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Segmented information (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Schedule of Results of Operations and Assets for Segments |
| Three months ended June 30, 2023
| Regulated Services Group |  | Renewable Energy Group |  | Corporate |  | Total
Revenue (1)(2) | $ | 532,233 |  |  | $ | 71,694 |  |  | $ | — |  |  | $ | 603,927 |
Other revenue | 14,200 |  |  | 9,380 |  |  | 364 |  |  | 23,944 |
Fuel, power and water purchased | 138,374 |  |  | 3,782 |  |  | — |  |  | 142,156 |
Net revenue | 408,059 |  |  | 77,292 |  |  | 364 |  |  | 485,715 |
Operating expenses (recovery) | 213,891 |  |  | 27,737 |  |  | (146) |  |  | 241,482 |
Administrative expenses | 13,548 |  |  | 11,044 |  |  | 1,100 |  |  | 25,692 |
Depreciation and amortization | 84,754 |  |  | 33,291 |  |  | 403 |  |  | 118,448 |
Loss on foreign exchange | — |  |  | — |  |  | 6,379 |  |  | 6,379 |
Operating income (loss) | 95,866 |  |  | 5,220 |  |  | (7,372) |  |  | 93,714 |
Interest expense | (42,724) |  |  | (16,420) |  |  | (30,519) |  |  | (89,663) |
Income (loss) from long-term investments | 9,332 |  |  | 26,259 |  |  | (313,287) |  |  | (277,696) |
Other expenses | (41,010) |  |  | (1,197) |  |  | (2,427) |  |  | (44,634) |
Earnings (loss) before income taxes | $ | 21,464 |  |  | $ | 13,862 |  |  | $ | (353,605) |  |  | $ | (318,279) |
Capital expenditures | $ | 225,505 |  |  | $ | 19,704 |  |  | $ | — |  |  | $ | 245,209 |
(1) Renewable Energy Group revenue includes $4,328 related to net hedging gain from energy derivative contracts and availability credits for the three months ended June 30, 2023 that do not represent revenue recognized from contracts with customers. (2) Regulated Services Group revenue includes $9,083 related to alternative revenue programs for the three months ended June 30, 2023 that do not represent revenue recognized from contracts with customers. 18.Segmented information (continued)
| Three months ended June 30, 2022
| Regulated Services Group |  | Renewable Energy Group |  | Corporate |  | Total
Revenue (1)(2) | $ | 507,095 |  |  | $ | 92,141 |  |  | $ | — |  |  | $ | 599,236 |
Other revenue | 12,559 |  |  | 7,208 |  |  | 382 |  |  | 20,149 |
Fuel, power and water purchased | 159,256 |  |  | 9,646 |  |  | — |  |  | 168,902 |
Net revenue | 360,398 |  |  | 89,703 |  |  | 382 |  |  | 450,483 |
Operating expenses | 179,258 |  |  | 27,053 |  |  | 19 |  |  | 206,330 |
Administrative expenses | 10,966 |  |  | 8,510 |  |  | 631 |  |  | 20,107 |
Depreciation and amortization | 76,228 |  |  | 36,057 |  |  | 262 |  |  | 112,547 |
Loss on foreign exchange | — |  |  | — |  |  | 4,464 |  |  | 4,464 |
Operating income (loss) | 93,946 |  |  | 18,083 |  |  | (4,994) |  |  | 107,035 |
Interest expense | (23,860) |  |  | (14,862) |  |  | (25,851) |  |  | (64,573) |
Income (loss) from long-term investments | 5,265 |  |  | 26,675 |  |  | (145,320) |  |  | (113,380) |
Other expenses | (2,898) |  |  | (4,723) |  |  | (6,602) |  |  | (14,223) |
Earnings (loss) before income taxes | $ | 72,453 |  |  | $ | 25,173 |  |  | $ | (182,767) |  |  | $ | (85,141) |
Capital expenditures | $ | 179,878 |  |  | $ | 67,660 |  |  | $ | — |  |  | $ | 247,538 |
(1) Renewable Energy Group revenue includes $25,062 related to net hedging loss from energy derivative contracts and availability credits for the three months ended June 30, 2022 that do not represent revenue recognized from contracts with customers. (2) Regulated Services Group revenue includes $8,811 related to alternative revenue programs for the three months ended June 30, 2022 that do not represent revenue recognized from contracts with customers. 18.Segmented information (continued)
| Six months ended June 30, 2023
| Regulated Services Group |  | Renewable Energy Group |  | Corporate |  | Total
Revenue (1)(2) | 1,206,394 |  |  | 150,410 |  |  | $ | — |  |  | $ | 1,356,804 |
Other revenue | 28,218 |  |  | 20,751 |  |  | 725 |  |  | 49,694 |
Fuel, power and water purchased | 405,524 |  |  | 11,588 |  |  | — |  |  | 417,112 |
Net revenue | 829,088 |  |  | 159,573 |  |  | 725 |  |  | 989,386 |
Operating expenses | 401,315 |  |  | 60,447 |  |  | 7 |  |  | 461,769 |
Administrative expenses | 21,873 |  |  | 18,474 |  |  | 3,178 |  |  | 43,525 |
Depreciation and amortization | 170,611 |  |  | 68,836 |  |  | 642 |  |  | 240,089 |
Loss on foreign exchange | — |  |  | — |  |  | 7,815 |  |  | 7,815 |
Operating income (loss) | 235,289 |  |  | 11,816 |  |  | (10,917) |  |  | 236,188 |
Interest expense | (81,202) |  |  | (31,315) |  |  | (59,064) |  |  | (171,581) |
Income (loss) from long-term investments | 19,660 |  |  | 59,526 |  |  | (136,870) |  |  | (57,684) |
Other expenses | (45,259) |  |  | (1,197) |  |  | (4,435) |  |  | (50,891) |
Earnings (loss) before income taxes | $ | 128,488 |  |  | $ | 38,830 |  |  | $ | (211,286) |  |  | $ | (43,968) |
Capital expenditures | 372,886 |  |  | 42,072 |  |  | — |  |  | 414,958 |
| June 30, 2023
Property, plant and equipment | $ | 8,757,413 |  |  | $ | 3,550,202 |  |  | $ | 29,316 |  |  | $ | 12,336,931 |
Investments carried at fair value | 1,799 |  |  | 1,211,919 |  |  | — |  |  | 1,213,718 |
Equity-method investees | 57,586 |  |  | 322,141 |  |  | 8,789 |  |  | 388,516 |
Total assets | 12,247,694 |  |  | 5,401,782 |  |  | 319,237 |  |  | 17,968,713 |
(1) Renewable Energy Group revenue includes $11,527 related to net hedging gain from energy derivative contracts and availability credits for the six months ended June 30, 2023 that do not represent revenue recognized from contracts with customers. (2) Regulated Services Group revenue includes $12,789 related to alternative revenue programs for the six months ended June 30, 2023 that do not represent revenue recognized from contracts with customers. 18.Segmented information (continued)
| Six months ended June 30, 2022
| Regulated Services Group |  | Renewable Energy Group |  | Corporate |  | Total
Revenue (1)(2) | $ | 1,129,854 |  |  | $ | 177,901 |  |  | $ | — |  |  | $ | 1,307,755 |
Other revenue | 27,547 |  |  | 16,552 |  |  | 768 |  |  | 44,867 |
Fuel, power and water purchased | 393,828 |  |  | 22,585 |  |  | — |  |  | 416,413 |
Net revenue | 763,573 |  |  | 171,868 |  |  | 768 |  |  | 936,209 |
Operating expenses | 363,667 |  |  | 54,643 |  |  | 22 |  |  | 418,332 |
Administrative expenses | 19,036 |  |  | 16,055 |  |  | 2,468 |  |  | 37,559 |
Depreciation and amortization | 156,511 |  |  | 75,474 |  |  | 526 |  |  | 232,511 |
Loss on foreign exchange | — |  |  | — |  |  | 4,726 |  |  | 4,726 |
| 224,359 |  |  | 25,696 |  |  | (6,974) |  |  | 243,081 |
Gain on sale of renewable assets | — |  |  | 1,200 |  |  | — |  |  | 1,200 |
Operating income (loss) | 224,359 |  |  | 26,896 |  |  | (6,974) |  |  | 244,281 |
Interest expense | (45,286) |  |  | (30,575) |  |  | (46,655) |  |  | (122,516) |
Income (loss) from long-term investments | 9,774 |  |  | 54,301 |  |  | (188,144) |  |  | (124,069) |
Other expenses | (7,786) |  |  | (4,978) |  |  | (8,023) |  |  | (20,787) |
Earnings (loss) before income taxes | $ | 181,061 |  |  | $ | 45,644 |  |  | $ | (249,796) |  |  | $ | (23,091) |
Capital expenditures | 435,463 |  |  | 139,774 |  |  | — |  |  | 575,237 |
| December 31, 2022
Property, plant and equipment | $ | 8,554,938 |  |  | $ | 3,360,687 |  |  | $ | 29,260 |  |  | $ | 11,944,885 |
Investments carried at fair value | 1,984 |  |  | 1,342,223 |  |  | — |  |  | 1,344,207 |
Equity-method investees | 56,199 |  |  | 310,103 |  |  | 15,500 |  |  | 381,802 |
Total assets | 12,109,575 |  |  | 5,251,933 |  |  | 266,105 |  |  | 17,627,613 |
(1) Renewable Energy Group revenue includes $29,892 related to net hedging loss from energy derivative contracts and availability credits for the six months ended June 30, 2022 that do not represent revenue recognized from contracts with customers. (2) Regulated Services Group revenue includes $15,089 related to alternative revenue programs for the six months ended June 30, 2022 that do not represent revenue recognized from contracts with customers. The majority of non-regulated energy sales are earned from contracts with large public utilities. The Company has sought to mitigate its credit risk by selling energy to large utilities in various North American locations. None of the utilities contribute more than 10% of total revenue.
Schedule of Information on Operations by Geographic Area | Information on operations by geographic area is as follows:
| Three months ended June 30 |  | Six months ended June 30
| 2023 |  | 2022 |  | 2023 |  | 2022
Revenue |  |  |  |  |  |  |
United States | $ | 503,777 |  |  | $ | 492,373 |  |  | $ | 1,144,201 |  |  | $ | 1,091,246 |
Canada | 37,788 |  |  | 41,397 |  |  | 90,916 |  |  | 95,232 |
Other regions | 86,306 |  |  | 85,615 |  |  | 171,381 |  |  | 166,144 |
| $ | 627,871 |  |  | $ | 619,385 |  |  | $ | 1,406,498 |  |  | $ | 1,352,622 |

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