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Segment Disclosures (Tables) | 12 Months Ended
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Dec. 31, 2021
Disclosure of operating segments [abstract] |
Disclosure of operating segments |
Year ended Dec. 31, 2021 | Hydro | Wind & Solar(1) | Gas(2) | Energy Transition(3) | Energy Marketing | Corporate | Total | Equity investments(1) | Reclass adjustments | IFRS financials
Revenues | 383 |  | 323 |  | 1,109 |  | 709 |  | 211 |  | 4 |  | 2,739 |  | (18) |  | — |  | 2,721 |
Reclassifications and adjustments: |  |  |  |  |  |  |  |  |  |
Unrealized mark-to-market (gain) loss | — |  | 25 |  | (40) |  | 19 |  | (38) |  | — |  | (34) |  | — |  | 34 |  | — |
Decrease in finance lease receivable | — |  | — |  | 41 |  | — |  | — |  | — |  | 41 |  | — |  | (41) |  | — |
Finance lease income | — |  | — |  | 25 |  | — |  | — |  | — |  | 25 |  | — |  | (25) |  | — |
Unrealized foreign exchange gain on commodity | — |  | — |  | (3) |  | — |  | — |  | — |  | (3) |  | — |  | 3 |  | — |
Adjusted revenues | 383 |  | 348 |  | 1,132 |  | 728 |  | 173 |  | 4 |  | 2,768 |  | (18) |  | (29) |  | 2,721 |
Fuel and purchased power | 16 |  | 17 |  | 457 |  | 560 |  | — |  | 4 |  | 1,054 |  | — |  | — |  | 1,054 |
Reclassifications and adjustments: |  |  |  |  |  |  |  |  |  |
Australian interest income | — |  | — |  | (4) |  | — |  | — |  | — |  | (4) |  | — |  | 4 |  | — |
Mine depreciation | — |  | — |  | (79) |  | (111) |  | — |  | — |  | (190) |  | — |  | 190 |  | — |
Coal inventory write-down | — |  | — |  | — |  | (17) |  | — |  | — |  | (17) |  | — |  | 17 |  | — |
Adjusted fuel and purchased power | 16 |  | 17 |  | 374 |  | 432 |  | — |  | 4 |  | 843 |  | — |  | 211 |  | 1,054 |
Carbon compliance(4) | — |  | — |  | 118 |  | 60 |  | — |  | — |  | 178 |  | — |  | — |  | 178 |
Gross margin | 367 |  | 331 |  | 640 |  | 236 |  | 173 |  | — |  | 1,747 |  | (18) |  | (240) |  | 1,489 |
OM&A | 42 |  | 59 |  | 175 |  | 117 |  | 36 |  | 84 |  | 513 |  | (2) |  | — |  | 511 |
Reclassifications and adjustments: |  |  |  |  |  |  |  |  |  |
Parts and materials write-down | — |  | — |  | (2) |  | (26) |  | — |  | — |  | (28) |  | — |  | 28 |  | — |
Curtailment gain | — |  | — |  | — |  | 6 |  | — |  | — |  | 6 |  | — |  | (6) |  | — |
Adjusted OM&A | 42 |  | 59 |  | 173 |  | 97 |  | 36 |  | 84 |  | 491 |  | (2) |  | 22 |  | 511 |
Taxes, other than income taxes | 3 |  | 10 |  | 13 |  | 6 |  | — |  | 1 |  | 33 |  | (1) |  | — |  | 32 |
Net other operating expense (income) | — |  | — |  | (40) |  | 48 |  | — |  | — |  | 8 |  | — |  | — |  | 8 |
Reclassifications and adjustments: |  |  |  |  |  |  |  |  |  |
Royalty onerous contract and contract termination penalties | — |  | — |  | — |  | (48) |  | — |  | — |  | (48) |  | — |  | 48 |  | — |
Adjusted net other operating income | — |  | — |  | (40) |  | — |  | — |  | — |  | (40) |  | — |  | 48 |  | 8 |
Adjusted EBITDA | 322 |  | 262 |  | 494 |  | 133 |  | 137 |  | (85) |  | 1,263 |  |  |  |
Equity income from associate |  |  |  |  |  |  |  |  |  | 9 |
Finance lease income |  |  |  |  |  |  |  |  |  | 25 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  | (529) |
Asset impairment |  |  |  |  |  |  |  |  |  | (648) |
Net interest expense(6) |  |  |  |  |  |  |  |  |  | (245) |
Foreign exchange gain |  |  |  |  |  |  |  |  |  | 16 |
Gain on sale of assets and other |  |  |  |  |  |  |  |  |  | 54 |
Loss before income taxes |  |  |  |  |  |  |  |  |  | (380) |
(1) Skookumchuck has been included on a proportionate basis in the Wind and Solar segment. (2) Includes the segments previously known as Australian Gas and North American Gas and the gas generation assets from the segment previously known as Alberta Thermal. (3) Includes the segment previously known as Centralia and the coal generation assets from the segment previously known as Alberta Thermal. (4) As of the first quarter of 2021, carbon compliance costs have been reclassified from fuel and purchase power costs and disclosed separately. Prior periods have been adjusted for comparative purposes. (5) Adjusted EBITDA is not defined and has no standardized meaning under IFRS. (6) Includes accretion by segment and interest expense is not allocated as its related to Corporate debt and borrowings.
Year ended Dec. 31, 2020 | Hydro | Wind & Solar(1) | Gas(2) | Energy Transition(3) | Energy Marketing | Corporate | Total | Equity accounted investments(1) | Reclass adjustments | IFRS financials
Revenues | 152 |  | 332 |  | 787 |  | 704 |  | 122 |  | 7 |  | 2,104 |  | (3) |  | — |  | 2,101 |
Reclassifications and adjustments: |  |  |  |  |  |  |  |  |  |
Unrealized mark-to-market (gain) loss | — |  | 2 |  | 33 |  | (14) |  | 21 |  | — |  | 42 |  | — |  | (42) |  | — |
Decrease in finance lease receivable | — |  | — |  | 17 |  | — |  | — |  | — |  | 17 |  | — |  | (17) |  | — |
Finance lease income | — |  | — |  | 7 |  | — |  | — |  | — |  | 7 |  | — |  | (7) |  | — |
Unrealized foreign exchange loss on commodity | — |  | — |  | 4 |  | — |  | — |  | — |  | 4 |  | — |  | (4) |  | — |
Adjusted revenues | 152 |  | 334 |  | 848 |  | 690 |  | 143 |  | 7 |  | 2,174 |  | (3) |  | (70) |  | 2,101 |
Fuel and purchased power | 8 |  | 25 |  | 325 |  | 435 |  | — |  | 12 |  | 805 |  | — |  | — |  | 805 |
Reclassifications and adjustments: |  |  |  |  |  |  |  |  |  |
Australian interest income | — |  | — |  | (4) |  | — |  | — |  | — |  | (4) |  | — |  | 4 |  | — |
Mine depreciation | — |  | — |  | (100) |  | (46) |  | — |  | — |  | (146) |  | — |  | 146 |  | — |
Coal inventory write-down | — |  | — |  | — |  | (37) |  | — |  | — |  | (37) |  | — |  | 37 |  | — |
Adjusted fuel and purchased power | 8 |  | 25 |  | 221 |  | 352 |  | — |  | 12 |  | 618 |  | — |  | 187 |  | 805 |
Carbon compliance(4) | — |  | — |  | 120 |  | 48 |  | — |  | (5) |  | 163 |  | — |  | — |  | 163 |
Gross margin | 144 |  | 309 |  | 507 |  | 290 |  | 143 |  | — |  | 1,393 |  | (3) |  | (257) |  | 1,133 |
OM&A | 37 |  | 53 |  | 166 |  | 106 |  | 30 |  | 80 |  | 472 |  | — |  | — |  | 472 |
Taxes, other than income taxes | 2 |  | 8 |  | 13 |  | 9 |  | — |  | 1 |  | 33 |  | — |  | — |  | 33 |
Net other operating expense (income) | — |  | — |  | (11) |  | — |  | — |  | — |  | (11) |  | — |  | — |  | (11) |
Reclassifications and adjustments: |  |  |  |  |  |  |  |  |  |
Impact of Sheerness going off-coal | — |  | — |  | (28) |  | — |  | — |  | — |  | (28) |  | — |  | 28 |  | — |
Adjusted net other operating income |  |  | (39) |  | — |  | — |  | — |  | (39) |  | — |  | 28 |  | (11) |
Adjusted EBITDA(5) | 105 |  | 248 |  | 367 |  | 175 |  | 113 |  | (81) |  | 927 |  |  |  |
Equity income from associate |  |  |  |  |  |  |  |  |  | 1 |
Finance lease income |  |  |  |  |  |  |  |  |  | 7 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  | (654) |
Asset impairment |  |  |  |  |  |  |  |  |  | (84) |
Net interest expense(6) |  |  |  |  |  |  |  |  |  | (238) |
Foreign exchange loss |  |  |  |  |  |  |  |  |  | 17 |
Gain on sale of assets and other |  |  |  |  |  |  |  |  |  | 9 |
Loss before income taxes |  |  |  |  |  |  |  |  |  | (303) |
(1) Skookumchuck has been included on a proportionate basis in the Wind and Solar segment. (2) Includes the segments previously known as Australian Gas and North American Gas and the gas generation assets from the segment previously known as Alberta Thermal. (3) Includes the segment previously known as Centralia and the coal generation assets from the segment previously known as Alberta Thermal. (4) As of the first quarter of 2021, carbon compliance costs have been reclassified from fuel and purchase power costs and disclosed separately. Prior periods have been adjusted for comparative purposes. (5) Adjusted EBITDA is not defined and has no standardized meaning under IFRS. (6) Includes accretion by segment and interest expense is not allocated as its related to Corporate debt and borrowings.
Year ended Dec. 31, 2019 | Hydro | Wind & Solar | Gas(1) | Energy Transition(2) | Energy Marketing | Corporate | Total |  | Reclass adjustments | IFRS financials
Revenues | 156 |  | 312 |  | 851 |  | 905 |  | 129 |  | (6) |  | 2,347 |  |  | — |  | 2,347 |
Reclassifications and adjustments: |  |  |  |  |  |  |  |  |  |
Unrealized mark-to-market (gain) loss | — |  | (17) |  | 6 |  | (12) |  | (10) |  | — |  | (33) |  |  | 33 |  | — |
Decrease in finance lease receivable | — |  | — |  | 24 |  | — |  | — |  | — |  | 24 |  |  | (24) |  | — |
Finance lease income | — |  | — |  | 6 |  | — |  | — |  | — |  | 6 |  |  | (6) |  | — |
Adjusted revenues | 156 |  | 295 |  | 887 |  | 893 |  | 119 |  | (6) |  | 2,344 |  |  | 3 |  | 2,347 |
Fuel and purchased power | 7 |  | 16 |  | 315 |  | 539 |  | — |  | 4 |  | 881 |  |  | — |  | 881 |
Reclassifications and adjustments: |  |  |  |  |  |  |  |  |  |
Australian interest income | — |  | — |  | (4) |  | — |  | — |  | — |  | (4) |  |  | 4 |  | — |
Mine depreciation | — |  | — |  | (81) |  | (40) |  | — |  | — |  | (121) |  |  | 121 |  | — |
Adjusted fuel and purchased power | 7 |  | 16 |  | 230 |  | 499 |  | — |  | 4 |  | 756 |  |  | 125 |  | 881 |
Carbon compliance | — |  | — |  | 138 |  | 77 |  | — |  | (10) |  | 205 |  |  | — |  | 205 |
Gross margin | 149 |  | 279 |  | 519 |  | 317 |  | 119 |  | — |  | 1,383 |  |  | (122) |  | 1,261 |
OM&A | 36 |  | 50 |  | 162 |  | 124 |  | 30 |  | 73 |  | 475 |  |  | — |  | 475 |
Taxes, other than income taxes | 3 |  | 8 |  | 9 |  | 8 |  | — |  | 1 |  | 29 |  |  | — |  | 29 |
Net other operating expense (income) | — |  | (10) |  | (41) |  | — |  | — |  | 2 |  | (49) |  |  | — |  | (49) |
Termination of Sundance B and C PPAs | — |  | — |  | (14) |  | (42) |  | — |  | — |  | (56) |  |  | — |  | (56) |
Adjusted EBITDA(3) | 110 |  | 231 |  | 403 |  | 227 |  | 89 |  | (76) |  | 984 |  |  |  |
Finance lease income |  |  |  |  |  |  |  |  |  | 6 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  | (590) |
Asset impairment |  |  |  |  |  |  |  |  |  | (25) |
Gain on termination of Keephills 3 coal rights contract |  |  |  |  |  |  |  |  |  | 88 |
Net interest expense(4) |  |  |  |  |  |  |  |  |  | (179) |
Foreign exchange loss |  |  |  |  |  |  |  |  |  | (15) |
Gain on sale of assets and other |  |  |  |  |  |  |  |  |  | 46 |
Earnings before income taxes |  |  |  |  |  |  |  |  |  | 193 |
(1) Includes the segments previously known as Australian Gas and North American Gas and the gas generation assets from the segment previously known as Alberta Thermal. (2) Includes the segment previously known as Centralia and the coal generation assets from the segment previously known as Alberta Thermal. (3) Adjusted EBITDA is not defined and has no standardized meaning under IFRS. (4) Includes accretion by segment and interest expense is not allocated as its related to Corporate debt and borrowings.
Disclosure of selected consolidated statements of financial position information | Selected Consolidated Statements of Financial Position Information
As at Dec. 31, 2021 | Hydro | Wind and Solar | Gas(1) | Energy Transition(2) | Energy Marketing | Corporate | Total
PP&E | 466 |  | 2,304 |  | 2,036 |  | 481 |  | — |  | 33 |  | 5,320 |
Right-of-use assets | 5 |  | 64 |  | 7 |  | 1 |  | — |  | 18 |  | 95 |
Intangible assets | 3 |  | 147 |  | 56 |  | 9 |  | 5 |  | 36 |  | 256 |
Goodwill | 258 |  | 175 |  | — |  | — |  | 30 |  | — |  | 463 |
As at Dec. 31, 2020 | Hydro | Wind and Solar | Gas(1) | Energy Transition(2) | Energy Marketing | Corporate | Total
PP&E | 467 |  | 2,005 |  | 2,102 |  | 1,232 |  | — |  | 16 |  | 5,822 |
Right-of-use assets | 6 |  | 55 |  | 5 |  | 53 |  | — |  | 22 |  | 141 |
Intangible assets | 4 |  | 159 |  | 66 |  | 36 |  | 7 |  | 41 |  | 313 |
Goodwill | 258 |  | 175 |  | — |  | — |  | 30 |  | — |  | 463 |
(1) Includes the segments previously known as Australian Gas and North American Gas and the gas generation assets from the segment previously known as Alberta Thermal. (2) Includes the segment previously known as Centralia and the coal generation assets from the segment previously known as Alberta Thermal.
Disclosure of components in other non-current assets | Additions to non-current assets are as follows:
Year ended Dec. 31, 2021 | Hydro | Wind and Solar | Gas(1) | Energy Transition(2) |  |  |  |  | Energy Marketing | Corporate | Total
Additions to non-current assets: |  |  |  |  |  |  |  |  |  |  |
PP&E | 29 |  | 166 |  | 167 |  | 90 |  |  |  |  |  | — |  | 28 |  | 480 |
Intangible assets | — |  | — |  | — |  | 1 |  |  |  |  |  | — |  | 8 |  | 9 |
Year ended Dec. 31, 2020 | Hydro | Wind and Solar | Gas(1) | Energy Transition(2) |  |  |  |  | Energy Marketing | Corporate | Total
Additions to non-current assets: |  |  |  |  |  |  |  |  |  |  |
PP&E | 22 |  | 174 |  | 199 |  | 78 |  |  |  |  |  | — |  | 13 |  | 486 |
Intangible assets | — |  | — |  | — |  | 1 |  |  |  |  |  | — |  | 13 |  | 14 |
Year ended Dec. 31, 2019 | Hydro | Wind and Solar | Gas(1) | Energy Transition(2) |  |  |  |  | Energy Marketing | Corporate | Total
Additions to non-current assets: |  |  |  |  |  |  |  |  |  |  |
PP&E | 23 |  | 229 |  | 74 |  | 90 |  |  |  |  |  | — |  | 1 |  | 417 |
Intangible assets | — |  | — |  | — |  | 2 |  |  |  |  |  | — |  | 12 |  | 14 |
(1) Includes the segments previously known as Australian Gas and North American Gas and the gas generation assets from the segment previously known as Alberta Thermal. (2) Includes the segment previously known as Centralia and the coal generation assets from the segment previously known as Alberta Thermal.
Disclosure of reconciliation between depreciation and amortization | The reconciliation between depreciation and amortization reported on the Consolidated Statements of Earnings (Loss) and the Consolidated Statements of Cash Flows is presented below:
Year ended Dec. 31 | 2021 | 2020 | 2019
Depreciation and amortization expense on the Consolidated Statements of Earnings (Loss) | 529 |  | 654 |  | 590 |
Depreciation included in fuel, carbon compliance and purchased power (Note 6) | 190 |  | 144 |  | 119 |
Depreciation and amortization on the Consolidated Statements of Cash Flows | 719 |  | 798 |  | 709 |
Disclosure of geographical areas | Revenues
Year ended Dec. 31 | 2021 | 2020 | 2019
Canada | 1,854 |  | 1,227 |  | 1,460 |
US | 731 |  | 716 |  | 727 |
Australia | 136 |  | 158 |  | 160 |
Total revenue | 2,721 |  | 2,101 |  | 2,347 |
II. Non-Current Assets
| Property, plant and equipment | Right-of-use assets | Intangible assets | Other assets |
As at Dec. 31 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 |  |
Canada | 4,051 |  | 4,661 |  | 52 |  | 107 |  | 141 |  | 185 |  | 15 |  | 74 |  |  |
US | 860 |  | 737 |  | 39 |  | 30 |  | 85 |  | 94 |  | 61 |  | 61 |  |  |
Australia | 409 |  | 424 |  | 4 |  | 4 |  | 30 |  | 34 |  | 66 |  | 71 |  |  |
Total | 5,320 |  | 5,822 |  | 95 |  | 141 |  | 256 |  | 313 |  | 142 |  | 206 |  |  |

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