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v3.19.3.a.u2

Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2019
Disclosure of detailed information about financial instruments [abstract] |
Disclosure of financial assets | The following table outlines the carrying amounts and classifications of the financial assets and liabilities:
Carrying value as at Dec. 31, 2019 |  |  |  |  |
| Derivatives used for hedging | Derivatives held for trading (FVTPL) | Amortized cost |  | Total
Financial assets |  |  |  |  |
Cash and cash equivalents(1) | — |  | — |  | 411 |  |  | 411 |
Restricted cash | — |  | — |  | 32 |  |  | 32 |
Trade and other receivables | — |  | — |  | 462 |  |  | 462 |
Long-term portion of finance lease receivable | — |  | — |  | 176 |  |  | 176 |
Risk management assets |  |  |  |  |
Current | 71 |  | 95 |  | — |  |  | 166 |
Long-term | 607 |  | 33 |  | — |  |  | 640 |
Other assets (Note 21) | — |  | — |  | 47 |  |  | 47 |
Financial liabilities |  |  |  |  |
Accounts payable and accrued liabilities | — |  | — |  | 413 |  |  | 413 |
Dividends payable | — |  | — |  | 37 |  |  | 37 |
Risk management liabilities |  |  |  |  |
Current | 1 |  | 80 |  | — |  |  | 81 |
Long-term | 1 |  | 28 |  | — |  |  | 29 |
Credit facilities, long-term debt and finance lease obligations(2) | — |  | — |  | 3,212 |  |  | 3,212 |
Exchangeable securities | — |  | — |  | 326 |  |  | 326 |
(1) Includes cash equivalents of nil. (2) Includes current portion.
Carrying value as at Dec. 31, 2018 |  |  |  |  |
| Derivatives used for hedging | Derivatives held for trading (FVTPL) | Amortized cost | Other financial assets (FVTPL) | Total
Financial assets |  |  |  |  |
Cash and cash equivalents(1) | — |  | — |  | 89 |  | — |  | 89 |
Restricted cash | — |  | — |  | 66 |  | — |  | 66 |
Trade and other receivables | — |  | — |  | 731 |  | 25 |  | 756 |
Long-term portion of finance lease receivables | — |  | — |  | 191 |  | — |  | 191 |
Risk management assets |  |  |  |  |
Current | 60 |  | 86 |  | — |  | — |  | 146 |
Long-term | 629 |  | 33 |  | — |  | — |  | 662 |
Other assets | — |  | — |  | 37 |  | 15 |  | 52 |
Financial liabilities |  |  |  |  |
Accounts payable and accrued liabilities | — |  | — |  | 496 |  | — |  | 496 |
Dividends payable | — |  | — |  | 58 |  | — |  | 58 |
Risk management liabilities |  |  |  |  |
Current | 1 |  | 89 |  | — |  | — |  | 90 |
Long-term | 1 |  | 40 |  | — |  | — |  | 41 |
Credit facilities, long-term debt and finance lease obligations(2) | — |  | — |  | 3,267 |  | — |  | 3,267 |
Disclosure of financial liabilities | The following table outlines the carrying amounts and classifications of the financial assets and liabilities:
Carrying value as at Dec. 31, 2019 |  |  |  |  |
| Derivatives used for hedging | Derivatives held for trading (FVTPL) | Amortized cost |  | Total
Financial assets |  |  |  |  |
Cash and cash equivalents(1) | — |  | — |  | 411 |  |  | 411 |
Restricted cash | — |  | — |  | 32 |  |  | 32 |
Trade and other receivables | — |  | — |  | 462 |  |  | 462 |
Long-term portion of finance lease receivable | — |  | — |  | 176 |  |  | 176 |
Risk management assets |  |  |  |  |
Current | 71 |  | 95 |  | — |  |  | 166 |
Long-term | 607 |  | 33 |  | — |  |  | 640 |
Other assets (Note 21) | — |  | — |  | 47 |  |  | 47 |
Financial liabilities |  |  |  |  |
Accounts payable and accrued liabilities | — |  | — |  | 413 |  |  | 413 |
Dividends payable | — |  | — |  | 37 |  |  | 37 |
Risk management liabilities |  |  |  |  |
Current | 1 |  | 80 |  | — |  |  | 81 |
Long-term | 1 |  | 28 |  | — |  |  | 29 |
Credit facilities, long-term debt and finance lease obligations(2) | — |  | — |  | 3,212 |  |  | 3,212 |
Exchangeable securities | — |  | — |  | 326 |  |  | 326 |
(1) Includes cash equivalents of nil. (2) Includes current portion.
Carrying value as at Dec. 31, 2018 |  |  |  |  |
| Derivatives used for hedging | Derivatives held for trading (FVTPL) | Amortized cost | Other financial assets (FVTPL) | Total
Financial assets |  |  |  |  |
Cash and cash equivalents(1) | — |  | — |  | 89 |  | — |  | 89 |
Restricted cash | — |  | — |  | 66 |  | — |  | 66 |
Trade and other receivables | — |  | — |  | 731 |  | 25 |  | 756 |
Long-term portion of finance lease receivables | — |  | — |  | 191 |  | — |  | 191 |
Risk management assets |  |  |  |  |
Current | 60 |  | 86 |  | — |  | — |  | 146 |
Long-term | 629 |  | 33 |  | — |  | — |  | 662 |
Other assets | — |  | — |  | 37 |  | 15 |  | 52 |
Financial liabilities |  |  |  |  |
Accounts payable and accrued liabilities | — |  | — |  | 496 |  | — |  | 496 |
Dividends payable | — |  | — |  | 58 |  | — |  | 58 |
Risk management liabilities |  |  |  |  |
Current | 1 |  | 89 |  | — |  | — |  | 90 |
Long-term | 1 |  | 40 |  | — |  | — |  | 41 |
Credit facilities, long-term debt and finance lease obligations(2) | — |  | — |  | 3,267 |  | — |  | 3,267 |
Disclosure for sensitivity ranges for the base fair value |
As at Dec. 31 | 2019 |  | 2018 |
Description | Base fair value | Sensitivity | Base fair value | Sensitivity
Long-term power sale – US | 737 |  | +46 -139 | 801 |  | +116 -116
Unit contingent power purchases | (6) |  | +1 -1 | 18 |  | +4 -4
Structured products – Eastern US | 7 |  | +2 -2 | 6 |  | +5 -5
Full requirements – Eastern US | 10 |  | +3 -3 | — |  | — |
Long-term wind energy sale – Eastern US | (28) |  | +20 -20 | (39) |  | +21 -21 |
Others | — |  | +7 -7 | 9 |  | +3 -3
Disclosure of risk management strategy related to hedge accounting | The following tables summarize the key factors impacting the fair value of the Level III commodity risk management assets and liabilities by classification level during the years ended Dec. 31, 2019 and 2018, respectively:
| Year ended Dec. 31, 2019 |  |  |  | Year ended Dec. 31, 2018 |  |
| Hedge | Non-hedge | Total |  | Hedge | Non-hedge | Total
Opening balance | 689 |  | 6 |  | 695 |  |  | 719 |  | 52 |  | 771 |
Changes attributable to: |  |  |  |  |  |  |
Market price changes on existing contracts | 77 |  | 8 |  | 85 |  |  | (7) |  | (9) |  | (16) |
Market price changes on new contracts | — |  | 14 |  | 14 |  |  | — |  | 4 |  | 4 |
Contracts settled | (57) |  | (19) |  | (76) |  |  | (90) |  | (42) |  | (132) |
Change in foreign exchange rates | (31) |  | (1) |  | (32) |  |  | 67 |  | 5 |  | 72 |
Transfers into (out of) Level III | — |  | — |  | — |  |  | — |  | (4) |  | (4) |
Net risk management assets at end of period | 678 |  | 8 |  | 686 |  |  | 689 |  | 6 |  | 695 |
Additional Level III information: |  |  |  |  |  |  |
Gains recognized in other comprehensive income | 46 |  | — |  | 46 |  |  | 60 |  | — |  | 60 |
Total gains included in earnings before income taxes | 57 |  | 21 |  | 78 |  |  | 90 |  | — |  | 90 |
Unrealized gains (losses) included in earnings before income taxes relating to net assets held at period end | — |  | 2 |  | 2 |  |  | — |  | (42) |  | (42) |
Disclosure of fair value measurement of liabilities | The fair value of financial assets and liabilities measured at other than fair value is as follows:
| Fair value(1) |  |  |  | Total carrying
| Level I | Level II | Level III | Total | value(1)
Exchangeable securities - Dec. 31, 2019 | — |  | 342 |  | — |  | 342 |  | 326 |
Long-term debt - Dec. 31, 2019 | — |  | 3,157 |  | — |  | 3,157 |  | 3,070 |
Long-term debt - Dec. 31, 2018 | — |  | 3,181 |  | — |  | 3,181 |  | 3,204 |
(1) Includes current portion.
Disclosure of difference between transaction price and the fair value determined using valuation model | The difference between the transaction price and the fair value determined using a valuation model, yet to be recognized in net earnings, and a reconciliation of changes is as follows:
As at Dec. 31 | 2019 | 2018 | 2017
Unamortized net gain at beginning of year | 49 |  | 105 |  | 148 |
New inception gains (losses) | 3 |  | (14) |  | 12 |
Change in foreign exchange rates | — |  | 5 |  | (7) |
Amortization recorded in net earnings during the year | (43) |  | (47) |  | (48) |
Unamortized net gain at end of year | 9 |  | 49 |  | 105 |

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