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Financial instruments (Tables)
6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Financial Instruments Fair value of financial instruments
June 30, 2024Carrying
amount
Fair
value
Level 1Level 2Level 3
Long-term investments carried at fair value$1,128,171 $1,128,171 $1,076,642 $ $51,529 
Development loans and other receivables31,479 43,491  43,491  
Derivative instruments:
Interest rate swaps designated as a hedge95,723 95,723  95,723  
Congestion revenue rights not designated as hedge10,971 10,971   10,971 
Cross-currency swap designated as a net investment hedge10,064 10,064  10,064  
Commodity contracts for regulatory operations75 75  75  
Total derivative instruments116,833 116,833  105,862 10,971 
Total financial assets$1,276,483 $1,288,495 $1,076,642 $149,353 $62,500 
Long-term debt$8,292,649 $8,783,756 $2,223,829 $6,559,927 $ 
Convertible debentures229 262 262   
Derivative instruments:
Energy contracts designated as a cash flow hedge85,630 85,630   85,630 
Energy contracts not designated as hedge6,505 6,505   6,505 
Cross-currency swap designated as a net investment hedge23,203 23,203  23,203  
Cross-currency swap designated as a cash flow hedge13,783 13,783  13,783  
Commodity contracts for regulated operations936 936  936  
Total derivative instruments130,057 130,057  37,922 92,135 
Total financial liabilities$8,422,935 $8,914,075 $2,224,091 $6,597,849 $92,135 
21. Financial instruments (continued)
(a)Fair value of financial instruments (continued)
December 31, 2023Carrying
amount
Fair
value
Level 1Level 2Level 3
Long-term investments carried at fair value$1,115,729 $1,115,729 $1,054,665 $— $61,064 
Development loans and other receivables158,110 155,735 — 155,735 — 
Derivative instruments:
Interest rate swap designated as a hedge72,936 72,936 — 72,936 — 
Interest rate cap not designated as a hedge
1,854 1,854 — 1,854 — 
Congestion revenue
rights not designated as hedge
8,458 8,458 — — 8,458 
Total derivative instruments83,248 83,248 — 74,790 8,458 
Total financial assets$1,357,087 $1,354,712 $1,054,665 $230,525 $69,522 
Long-term debt$8,516,030 $7,423,318 $2,532,608 $4,890,710 $— 
Notes payable to related party25,808 15,320 — 15,320 — 
Convertible debentures230 276 276 — — 
Derivative instruments:
Energy contracts designated as a cash flow hedge68,070 68,070 — — 68,070 
Energy contracts not designated as hedge5,593 5,593 — — 5,593 
Cross-currency swap designated as a net investment hedge10,533 10,533 — 10,533 — 
Currency forward contract designated as hedge6,779 6,779 — 6,779 — 
Interest rate swaps designated as a hedge11,790 11,790 — 11,790 — 
Cross-currency swap designated as a cash flow hedge5,547 5,547 — 5,547 — 
Commodity contracts for regulated operations2,564 2,564 — 2,564 — 
Total derivative instruments110,876 110,876 — 37,213 73,663 
Total financial liabilities$8,652,944 $7,549,790 $2,532,884 $4,943,243 $73,663 
Schedule of Long-Term Energy Derivative Contracts
The Company has sought to reduce the price risk on the expected future sale of power generation at the Sandy Ridge, Senate, Minonk and Sugar Creek Wind Facilities by entering into the following long-term energy derivative contracts. 
Notional quantity
(MW-hrs)
ExpiryReceive average
prices (per MW-hr)
Pay floating price
(per MW-hr)
3,245,679 September 2030$24.54Illinois Hub
287,686  December 2028$29.14PJM Western HUB
1,220,001  December 2027$21.31NI HUB
1,137,027  December 2027$36.46ERCORT North HUB
Schedule of Derivative Instruments Designated as Amortized into Hedged Activity Disclosure
Derivative
Notional quantity
Expiry
Hedged item
Forward-starting interest rate swap
$350,000 
July 2029
$350,000 subordinated unsecured notes
Cross-currency interest rate swap
C$400,000 
January 2032
C$400,000 subordinated unsecured notes
Forward-starting interest rate swap
$750,000 
April 2032
$750,000 subordinated unsecured notes
Forward-starting interest rate swap$575,000 June 2026
First $575,000 of the $1,150,000 senior unsecured notes issuance
Schedule of Derivative Financial Instruments Designated as Cash Flow Hedge, Effect on Consolidated Statement of Operations
The following table summarizes OCI attributable to derivative financial instruments designated as a cash flow hedge: 
Three months endedSix months ended
June 30June 30
2024202320242023
Effective portion of cash flow hedge$29,771 $29,949 $45,698 $52,435 
Amortization of cash flow hedge(539)(1,421)(1,078)(4,908)
Amounts reclassified from AOCI(42)7,893 (5,968)6,759 
OCI attributable to shareholders of AQN$29,190 $36,421 $38,652 $54,286 
Schedule of Effects on Statement of Operations of Derivative Financial Instruments Not Designated as Hedges
The effects on the unaudited interim condensed consolidated statements of operations of derivative financial instruments not designated as hedges consist of the following:
Three months endedSix months ended
June 30June 30
2024202320242023
Unrealized gain (loss) on derivative financial instruments:
Energy derivative contracts$1,843 84 $1,147 $62 
Commodity contracts — (890)1,128 
$1,843 $84 $257 $1,190 
Realized loss on derivative financial instruments:
Energy derivative contracts(1,887)(1,537)(1,783)(3,830)
$(1,887)$(1,537)$(1,783)$(3,830)
Loss on derivative financial instruments not accounted for as hedges(44)(1,453)(1,526)(2,640)
Amortization of AOCI gains frozen as a result of hedge dedesignation17 997 999 1,994 
$(27)$(456)$(527)$(646)
Unaudited interim condensed consolidated statements of operations classification:
Gain on derivative financial instruments$58 $1,039 $191 $3,205 
Renewable energy sales
(85)(1,495)(718)(3,851)
$(27)$(456)$(527)$(646)