XML 67 R64.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Financial Instruments (Tables)
 12 Months Ended
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 costTotal
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    
Current71  95  —  166  
Long-term607  33  —  640  
Other assets (Note 21)—  —  47  47  
Financial liabilities    
Accounts payable and accrued liabilities—  —  413  413  
Dividends payable—  —  37  37  
Risk management liabilities    
Current1  80  —  81  
Long-term1  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 costOther 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    
Current60  86  —  —  146  
Long-term629  33  —  —  662  
Other assets—  —  37  15  52  
Financial liabilities    
Accounts payable and accrued liabilities—  —  496  —  496  
Dividends payable—  —  58  —  58  
Risk management liabilities    
Current1  89  —  —  90  
Long-term1  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 costTotal
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    
Current71  95  —  166  
Long-term607  33  —  640  
Other assets (Note 21)—  —  47  47  
Financial liabilities    
Accounts payable and accrued liabilities—  —  413  413  
Dividends payable—  —  37  37  
Risk management liabilities    
Current1  80  —  81  
Long-term1  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 costOther 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    
Current60  86  —  —  146  
Long-term629  33  —  —  662  
Other assets—  —  37  15  52  
Financial liabilities    
Accounts payable and accrued liabilities—  —  496  —  496  
Dividends payable—  —  58  —  58  
Risk management liabilities    
Current1  89  —  —  90  
Long-term1  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. 3120192018
DescriptionBase fair valueSensitivityBase fair valueSensitivity
Long-term power sale – US737  +46
-139		801  +116
-116
Unit contingent power purchases(6) +1
-1		18  +4
-4
Structured products – Eastern US7  +2
-2		6  +5
-5
Full requirements – Eastern US10  +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, 2019Year ended Dec. 31, 2018
HedgeNon-hedgeTotalHedgeNon-hedgeTotal
 Opening balance689  6  695  719  52  771  
 Changes attributable to:
   Market price changes on existing contracts77  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 period678  8  686  689  6  695  
 Additional Level III information:
   Gains recognized in other comprehensive income46  —  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 ILevel IILevel IIITotal
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. 31201920182017
Unamortized net gain at beginning of year49  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 year9  49  105