N-12025 Annual Financial Statements - Redacted
41 passages
Regulated Balance Sheets As at December 31 December 31 December 31 December 31 millions of Canadian dollars 2025 2024 2025 2024 Assets Liabilities and Equity Current assets Current liabilities Receivables, net $ 557 $ 417 Bank indebtedness...
AI summary The document presents the regulated balance sheets for the years ending December 31, 2025, and December 31, 2024, showing changes in assets, liabilities, and equity. Key items include increases in current assets, long-term liabilities, and equity.
REDACTED 2025 Annual Financial Statements Attachment 1 Page 5 of 6 As at December 31 millions of Canadian dollars 2025 Unregulated Retained Earnings Unregulated retained earnings - December 31, 2024 $200.8 Unregulated compensation (includi...
AI summary The text presents a table from the 2025 Annual Financial Statements, focusing on unregulated retained earnings, property, plant, and equipment, as well as income taxes and related party transactions. It includes details on unregulated compensation, interest and depreciation expenses, and various adjustments affecting financial figures.
9. RECEIVABLES, NET As at December 31 December 31 millions of dollars 2025 2024 Customer accounts receivable – billed $ 195 $ 142 Customer accounts receivable – unbilled 260 202 Total customer accounts receivable 455 344 Allowance for cred...
AI summary The document presents financial data related to receivables and inventory for the years 2025 and 2024. It includes figures for customer accounts receivable, allowances for credit losses, cash collateral positions on derivative instruments, sales tax receivable, and inventory levels.
Derivative assets and liabilities receiving regulatory deferral consisted of the following: Derivative Assets Derivative Liabilities As at December 31 December 31 December 31 December 31 millions of dollars 2025 2024 2025 2024 Current Comm...
AI summary The text provides a breakdown of derivative assets and liabilities as of December 31, 2024, and 2025, categorized as current or long-term. It details the amounts related to commodity swaps, foreign exchange forwards, and the impact of master netting agreements.
For the Year ended December 31 millions of dollars 2025 2024 Commodity Foreign Commodity Foreign swaps and exchange swaps and exchange forwards forwards forwards forwards Unrealized gain (loss) in regulatory assets $ (34) $ 1 $ (25) $ 5 Un...
AI summary The text presents financial data related to unrealized and realized gains and losses in regulatory assets and liabilities, as well as changes in derivative instruments for the years ended December 31, 2025 and 2024. These figures include items such as unrealized gains in regulatory assets, realized losses in inventory, and total changes in derivative instruments.
13. PROPERTY, PLANT AND EQUIPMENT As at December 31 December 31 millions of dollars 2025 2024 Generation $ 4,010 $ 3,873 Transmission 1,495 1,276 Distribution 2,329 2,186 General plant and other 928 863 Total cost 8,762 8,198 Less: Accumul...
AI summary The document presents a table showing the changes in Property, Plant, and Equipment (PP&E) for the years 2024 and 2025, including categories like Generation, Transmission, Distribution, and General plant and other. The net book value of PP&E increased from $4,974 million to $5,385 million, with AFUDC of $17 million capitalized in 2025.
As a result of NSEB approved accounting policies and depreciation rates, NSPI recognizes or defers certain costs within "PP&E" that would not otherwise be recognized or deferred in the absence of rate regulation. Cumulative differences bet...
AI summary NSPI's accounting policies and depreciation rates, approved by NSEB, lead to the recognition or deferral of certain PP&E costs under rate regulation. Differences between rate-regulated and USGAAP accounting include depreciation rates, AFUDC, and overhead costs. The cumulative increase to accretion expense in accumulated depreciation was $1 million as of December 31, 2025.
The estimated useful lives, in years, for each major category of PP&E consist of the following: Generation 32 to 65 Generation - hydro 63 to 131 Generation - wind 25 Transmission 40 to 80 Distribution 14 to 65 General plant and other 5 to...
AI summary The document outlines the estimated useful lives for major categories of Property, Plant, and Equipment (PP&E), including generation, transmission, distribution, and general plant. It also provides the estimated average amortization expense for land rights and computer software over the next five years.
The changes in benefit obligation and plan assets, and the funded status for all plans for the years ended December 31 were as follows: millions of dollars 2025 2024 Change in Projected Benefit Obligation ("PBO") and Accumulated Post retir...
AI summary The document outlines the changes in benefit obligations and plan assets for pension and non-pension benefit plans for the years ended December 31, 2025 and 2024. It highlights actuarial losses due to updated salary assumptions, higher indexation, and member experience.
For the years ended December 31 the aggregate financial position for all pension plans where the PBO or, for post-retirement benefit plans, the APBO, exceeds the plan assets is as follows: millions of dollars 2025 2024 Plans with PBO/APBO...
AI summary The document presents the financial position of pension plans for the years ended December 31, 2025 and 2024, highlighting the unfunded status of defined benefit pension plans and non-pension benefit plans where the projected benefit obligation (PBO) or accumulated benefit obligation (ABO) exceeds plan assets.
Defined benefit pension plans millions of dollars 2025 2024 ABO $ 47 $ 49 Fair value of Plan Assets 5 5 Funded Status $ (42) $ (44) 2025 Annual Financial Statements Attachment 2 Page 32 of 48 REDACTED (CONFIDENTIAL INFORMATION REMOVED)
AI summary The table presents financial data related to defined benefit pension plans for 2025 and 2024, including the accumulated benefit obligation (ABO), fair value of plan assets, and funded status. The data shows a slight increase in ABO and a consistent fair value of plan assets, resulting in a funded status deficit.
The amounts recognized in the Consolidated Balance Sheets as at December 31 consisted of the following: millions of dollars 2024 Defined benefit Non-pension Defined benefit Non-pension pension plan benefit plans pension plan benefit plans...
AI summary The text provides details on the amounts recognized in the Consolidated Balance Sheets as of December 31, including current liabilities, long-term liabilities, other assets, and AOCI/AOCL. It also outlines changes in AOCI related to actuarial gains and losses for defined benefit pension plans and non-pension benefit plans.
NSPI's net periodic benefit cost (recovery) as at December 31 included the following: millions of dollars 2025 2024 Defined benefit pension plan Non-pension benefit plans Defined benefit pension plan Non-pension benefit plans Service cost...
AI summary The document outlines NSPI's net periodic benefit cost (recovery) for 2025 and 2024, including service cost, interest cost, expected return on plan assets, and actuarial losses. The expected return on plan assets is calculated using a five-year smoothed asset value and recognized on a straight-line basis over five years.
Pension Plan Asset Allocations NSPI's registered defined benefit pension plan employs a long-term strategic approach with respect to asset allocation, real return and risk. The underlying objective is to earn an appropriate return given th...
AI summary NSPI's pension plan uses a long-term strategic approach to asset allocation, focusing on achieving appropriate returns while preserving capital within acceptable risk levels. External investment managers handle the assets under the plan's investment policy and governance framework, with regular performance reviews to ensure compliance.
NSPI's target asset allocation for 2025 and 2024 was as follows: Asset Class 2025 Target Range at Market 2024 Target Range at Market Short-term securities 0% to 10% 0% to 10% Fixed Income 34% to 49% 34% to 49% Equities Canadian 5% to 15% 5...
AI summary NSPI's target asset allocation for 2025 and 2024 includes ranges for short-term securities, fixed income, and equities, with oversight by the NSPI Management Pension Committee and adherence to policies approved by the Board of Directors.
The fair value of investments as at December 31, 2025, by asset category, are as follows: millions of dollars NAV Level 1 Level 2 Total Percentage Cash and cash equivalents $ - $ 10 $ - $ 10 1% Equity Securities: Canadian equity - 114 - 11...
AI summary The fair value of investments as of December 31, 2025, is categorized by asset type, with the majority (74%) represented by open-ended investments measured at NAV, followed by international equity (18%) and Canadian equity (7%).
The fair value of investments as at December 31, 2024, by asset category, are as follows: millions of dollars NAV Level 1 Level 2 Total Percentage Cash and cash equivalents $ - $ 12 $ - $ 12 1% Equity Securities: Canadian equity - 107 - 10...
AI summary The fair value of investments as of December 31, 2024, is detailed by asset category. The largest portion is in open-ended investments measured at NAV, accounting for 68% of the total, while cash and cash equivalents make up 1%.
The following table shows the expected cash flows for defined benefit pension and other post-retirement benefit plans: millions of dollars Defined benefit pension plans Non-pension benefit plans Expected employer contributions 2026 Expecte...
AI summary The text presents a table outlining the expected cash flows for defined benefit pension and other post-retirement benefit plans, including employer contributions and benefit payments from 2026 to 2035. The assumptions section indicates that the data is based on projections and estimates.
As at December 31 December 31 millions of dollars Classification 2025 2024 Right-of-use asset Other long-term assets $ 20 $ 20 Lease liabilities: Current Other current liabilities 1 - Long-term Other long-term liabilities 21 21 Total lease...
AI summary The document provides a summary of lease-related financial figures for NSPI as of December 31, 2025, and 2024, including right-of-use assets, lease liabilities, and lease expenses. It also notes that a significant portion of the lease expense relates to variable costs for power generation facility finance leases recognized in 'Fuel for generation and purchased power'.
As at December 31, 2025, future minimum lease payments under non-cancellable operating leases for each of the next five years and in aggregate thereafter are as follows: millions of dollars 2026 2027 2028 2029 2030 Thereafter Total Minimum...
AI summary The document provides details on future minimum lease payments for NSPI as of December 31, 2025, including the weighted average remaining lease term and discount rate for operating leases.
As at December 31, 2025, future minimum lease payments to be received for each of the next five years and in aggregate thereafter are as follows: millions of dollars 2026 2027 2028 2029 2030 Thereafter Total Minimum lease payments to be re...
AI summary The document provides a table outlining future minimum lease payments to be received by the entity from December 31, 2025, over the next five years and thereafter. It also mentions a section on related party transactions, indicating potential discussions around such financial relationships.
As at December 31, 2025, long-term debt maturities for each of the next five years and in aggregate thereafter are as follows: Years of maturity millions of dollars 2026 $ 40 2027 - 2028 - 2029 599 2030 - Greater than 5 years 3,034 Total $...
AI summary The text provides a summary of long-term debt maturities as of December 31, 2025, and introduces a section on asset retirement obligations. It outlines the distribution of debt maturities over the next five years and beyond, with significant amounts due in 2029 and after five years.
AROs mostly relate to the reclamation of land at the Company's thermal, hydro and combustion turbine sites; and the disposal of polychlorinated biphenyls in transmission and distribution equipment. Certain hydro, transmission and distribut...
AI summary The document discusses AROs related to land reclamation at thermal, hydro, and combustion turbine sites, as well as the disposal of polychlorinated biphenyls in transmission and distribution equipment. Some hydro and transmission assets have AROs that cannot be measured due to their indefinite use.
A. Commitments As at December 31, 2025, contractual commitments (excluding pensions and other post-retirement obligations, long-term debt, interest payment obligations, long-term payables and ARO) for each of the next five years and in agg...
AI summary The text outlines contractual commitments as of December 31, 2025, excluding pensions, long-term debt, and other obligations. It provides a breakdown of these commitments for the next five years and in aggregate thereafter.
25. INVESTMENTS SUBJECT TO SIGNIFICANT INFLUENCE Carrying Value as at December 31 December 31 Ownership (2) millions of dollars 2025 2024 2025 WTI (1) $ 9 $ - 50% (1) Equity earnings issued for the three months and year ended December 31,...
AI summary The section discusses investments subject to significant influence, specifically WTI with a 50% ownership stake as of December 31, 2025, and notes that equity earnings for the period were nil.
- (2) The compensatory and non-compensatory changes are described in more detail below. - (3) The accrued pension obligation is calculated following the method prescribed under USGAAP (section 715 of the standards of the Financial Accounti...
AI summary The text discusses the calculation of the accrued pension obligation under USGAAP and Canadian accounting standards, including the factors influencing compensatory changes such as new service accruals, salary increases, and plan changes. Mr. Blunden has frozen service under the defined benefit component of the Pension Plan.
Significant changes in the Consolidated Balance Sheets between December 31, 2024 and December 31, 2025 include: millions of dollars Total Increase (Decrease) Explanation of Other Increase (Decrease) Assets held for sale (current and long-t...
AI summary The Consolidated Balance Sheets show significant changes between December 31, 2024, and December 31, 2025. Key changes include a decrease in assets held for sale due to impairment charges and FX translation, an increase in PP&E due to capital additions, a decrease in goodwill from FX translation, and an increase in short-term and long-term debt due to new issuances and credit facility utilization.
The Company's net investment in direct finance and sales-type leases primarily relates to Brunswick Pipeline, Seacoast, compressed natural gas ("CNG") stations, a renewable natural gas ("RNG") facility and heat pumps. The Company manages i...
AI summary The company's net investment includes direct finance and sales-type leases related to infrastructure like the Brunswick Pipeline, CNG stations, and heat pumps. Risk management involves maintenance of the pipeline, and customers have options to purchase leased assets at the end of the lease term.
PP&E consisted of the following regulated and non-regulated assets: As at millions of dollars Estimated useful life December 31 2025 (1) December 31 2024 (1) Generation 10 to 131 $ 14,673 $ 14,297 Transmission 5 to 80 3,379 3,106 Distribut...
AI summary The document outlines the PP&E (Property, Plant, and Equipment) assets of regulated and non-regulated entities, including generation, transmission, distribution, and gas transmission and distribution, as of December 31, 2025 and 2024. It also notes the exclusion of NMGC's assets due to a pending sale announced by Emera.
The amounts recognized in the Consolidated Balance Sheets consisted of the following: As at millions of dollars December 31 2025 December 31 2024 DB pension plans Non-pension benefit plans DB pension plans Non-pension benefit plans Other c...
AI summary The Consolidated Balance Sheets show the recognition of various financial items, including liabilities, assets, and equity components, as of December 31, 2025, and December 31, 2024. Notably, there is a classification of assets and liabilities held for sale following Emera's agreement to sell NMGC in August 2024.
Amounts Recognized in AOCI and Regulatory Assets Unamortized gains and losses and past service costs arising on post-retirement benefits are recorded in AOCI or regulatory assets. The following table summarizes the change in AOCI and regul...
AI summary The document discusses the recognition of unamortized gains, losses, and past service costs related to post-retirement benefits in AOCI and regulatory assets, with a summary table provided.
millions of dollars Regulatory assets Actuarial (gains) losses Past service gains DB Pension Plans: Balance, January 1, 2025 $ 363 $ (17) $ — Amortized in current period (9) 1 — Current year changes (51) (158) — Change in FX rate (16) — —...
AI summary This document presents financial data related to pension and non-pension benefit plans, including regulatory assets, actuarial gains and losses, and deferred income tax expenses for the years ending December 31, 2025 and 2024. It also mentions the classification of NMGC's assets and liabilities as held for sale following an agreement announced in August 2024.
27. Asset Retirement Obligations AROs mostly relate to reclamation of land at the thermal, hydro and combustion turbine sites; and the disposal of polychlorinated biphenyls in transmission and distribution equipment and a pipeline site. Ce...
AI summary Asset Retirement Obligations (AROs) pertain to the reclamation of land at various sites and the disposal of polychlorinated biphenyls. Some assets may not have measurable AROs due to indefinite usage and the inability to estimate future values.
The change in ARO for the years ended December 31 is as follows: millions of dollars 2025 2024 Balance, January 1 $ 217 $ 192 Accretion included in depreciation expense 11 10 Additions 5 11 Revisions in estimated cash flows — 2 Classified...
AI summary The document outlines the change in Asset Retirement Obligation (ARO) for the years ended December 31, 2025 and 2024, including balances, accretion, additions, revisions, and changes in foreign exchange rates. On August 5, 2024, Emera announced the sale of NMGC, leading to the classification of its assets and liabilities as held for sale starting in Q3 2024.
A. Commitments As at December 31, 2025, contractual commitments (excluding pensions and other post-retirement obligations, long-term debt and asset retirement obligations) for each of the next five years and in aggregate thereafter consist...
AI summary The text outlines contractual commitments as of December 31, 2025, excluding pensions, long-term debt, and asset retirement obligations, detailing commitments for the next five years and in aggregate thereafter.
30. Non-Controlling Interest in Subsidiaries As at millions of dollars December 31 2025 December 31 2024 Preferred shares of GBPC $ 14 $ 14 Preferred shares of GBPC
AI summary This section discusses the preferred shares of GBPC as of December 31, 2025, and December 31, 2024, showing a value of $14 million in both years.
ACCOUNT SEGMENT Account Segment Value Account Segment Description 128400 ST DERIV ASSET HFT TREASURY 130050 ST REG ASSETS OTHER 130060 ST REG ASSET HYDRO GENERATION FACILITIES 130100 ST REG ASSET UNAMORT DEFEAS ISSUE COSTS 130200 ST REG AS...
AI summary The text provides a list of account segments with corresponding descriptions, including items related to assets, liabilities, and regulatory accounting. These segments include derivatives, prepaid items, long-term assets, and deferred costs associated with regulatory processes.
2025 Annual Financial Statements Attachment 10 Page 1 of 1 REDACTED (CONFIDENTIAL INFORMATION REMOVED) Nova Scotia Power Inc. Rate Base Years Ended December 31st Millions of Dollars 2025 Actual 1 2 3 4 15 Net Plant in Service 447 Less: Imp...
AI summary This document presents the 2025 Annual Financial Statements for Nova Scotia Power Inc., focusing on the Rate Base and related financial components. It includes details on Net Plant in Service, Deferred Charges & Credits, and various asset-related items such as Asset Retirement Obligations and Deferred income taxes. The document also outlines regulated rate base calculations and financial metrics like weighted average cost of debt and return on equity.
- 2) Allowance for materials and supplies is the ending balance as at December 31. Gross Book Value, Asset Additions Accet Transfero Accet Datiromento Total Bassaya baginning Asset Retirements Depreciation & Salvage & Cost of Reclassify to...
AI summary The text discusses the Allowance for materials and supplies as of December 31, presenting a detailed table that outlines various asset categories, their depreciation rates, additions, retirements, and other financial adjustments related to Property, Plant, and Equipment for Distribution Plant - D.
$ millions Funding Project Number Funding Project Description ARO Settled C0060749 2024 Padmount Replacment Program (0.3) 23120-T003-820 PROVINCIAL-TRANS SUBSTATION PRIMARY (0.1) O0000370 Substation Ops Converted Projects (0.1) 23361-D008-...
AI summary The document presents a table of funding projects and their associated asset retirement obligations (ARO) settled amounts, along with a second table detailing the 2025 Cost of Removal Continuity for various asset categories. It notes a correction related to the salvage amounts collected for Distribution assets, which will be addressed in the 2026 financial statements and does not impact the rate base.
2025 Cost of Removal (COR) Incurred by Capital Item $ millions CI Number Funding Project Description COR Incurred 2025 Depreciation & (Accumulated 2025 Depreciation Expense Accretion Expense Depreciation) Cost of Removal Accretion Expense...
AI summary The text presents a table detailing the 2025 Cost of Removal (COR) incurred by various capital items, including depreciation and accretion expenses for different types of generation and distribution plants, along with related financial figures.
N-2Refiled Statements - NSPI - Redacted
37 passages
Regulated Balance Sheets As at December 31 December 31 December 31 December 31 millions of Canadian dollars 2025 2024 2025 2024 Assets Liabilities and Equity Current assets Current liabilities Receivables, net $ 557 $ 417 Bank indebtedness...
AI summary The document presents the regulated balance sheets for the period ending December 31, 2025, and December 31, 2024, showing changes in assets, liabilities, and equity. Key figures include increases in current assets, liabilities, and long-term debt, as well as changes in equity components such as common stock and retained earnings.
REDACTED 2025 Annual Financial Statements Attachment 1 Page 5 of 6 December 31 millions of Canadian dollars 2025 Unregulated Retained Earnings Unregulated retained earnings - December 31, 2024 $200.8 Unregulated compensation (including dir...
AI summary This document presents the unregulated retained earnings and related financial details for the 2025 Annual Financial Statements. It includes figures for compensation, interest, depreciation, and various adjustments, as well as property, plant, and equipment values for unregulated assets. The data also reflects income tax adjustments, related party liabilities, and equity issuance related to an investment.
Derivative assets and liabilities receiving regulatory deferral consisted of the following: Derivative Assets Derivative Liabilities As at December 31 December 31 December 31 December 31 millions of dollars 2025 2024 2025 2024 Current Comm...
AI summary The document outlines the derivative assets and liabilities of Nova Scotia Power Inc. (NSPI) as of December 31, 2025, and 2024, categorized as current or long-term based on contract maturities. The figures include commodity swaps, foreign exchange forwards, and the impact of master netting agreements.
13. PROPERTY, PLANT AND EQUIPMENT As at December 31 December 31 millions of dollars 2025 2024 Generation $ 4,010 $ 3,873 Transmission 1,495 1,276 Distribution 2,329 2,186 General plant and other 928 863 Total cost 8,762 8,198 Less: Accumul...
AI summary The document provides a detailed breakdown of Property, Plant, and Equipment (PP&E) as of December 31, 2025, and 2024, including categories such as Generation, Transmission, Distribution, and General plant and other. It also notes the accumulated depreciation and construction work in progress, along with the AFUDC capitalized for the year ended December 31, 2025.
As a result of NSEB approved accounting policies and depreciation rates, NSPI recognizes or defers certain costs within "PP&E" that would not otherwise be recognized or deferred in the absence of rate regulation. Cumulative differences bet...
AI summary The text discusses how NSPI's accounting policies and depreciation rates, approved by the NSEB, affect the recognition and deferral of costs in PP&E. These policies lead to differences between rate-regulated accounting and USGAAP, with a cumulative increase in accretion expense of $1 million as of December 31, 2025. No asset impairments occurred in 2025 or 2024.
The estimated useful lives, in years, for each major category of PP&E consist of the following: Generation 32 to 65 Generation - hydro 63 to 131 Generation - wind 25 Transmission 40 to 80 Distribution 14 to 65 General plant and other 5 to...
AI summary The document outlines the estimated useful lives for various categories of Property, Plant and Equipment (PP&E), including generation, transmission, and distribution, along with the average amortization expense for land rights and computer software over the next five years.
The changes in benefit obligation and plan assets, and the funded status for all plans for the years ended December 31 were as follows: millions of dollars 2025 2024 Change in Projected Benefit Obligation ("PBO") and Accumulated Post retir...
AI summary The document outlines the changes in benefit obligations and plan assets for pension and non-pension benefit plans for the years ended December 31, 2025 and 2024. It details balances, contributions, benefits paid, and actuarial gains and losses, with actuarial losses attributed to updated salary assumptions, higher indexation, and member experience.
For the years ended December 31 the aggregate financial position for all pension plans where the PBO or, for post-retirement benefit plans, the APBO, exceeds the plan assets is as follows: millions of dollars 2025 2024 Plans with PBO/APBO...
AI summary The document outlines the financial position of pension plans for the years ended December 31, 2025 and 2024. It shows that the projected benefit obligation (PBO) or accumulated post-retirement benefit obligation (APBO) exceeds plan assets, resulting in a negative funded status for both defined benefit pension plans and non-pension benefit plans.
The ABO for the defined benefit pension plans was $1,240 million as at December 31, 2025 (2024 – $1,270 million). The aggregate financial position for those plans with an ABO in excess of the plan assets for the years ended December 31 is...
AI summary The ABO for the defined benefit pension plans was reported as $1,240 million as of December 31, 2025, a decrease from $1,270 million in 2024. The financial position of these plans, where the ABO exceeds plan assets, is outlined for the years ended December 31.
The amounts recognized in the Consolidated Balance Sheets as at December 31 consisted of the following: millions of dollars 2025 2024 Defined benefit Non-pension Defined benefit Non-pension pension plan benefit plans pension plan benefit p...
AI summary The text presents financial data from the Consolidated Balance Sheets, including liabilities, assets, and AOCI related to defined benefit pension and non-pension benefit plans. It outlines changes in AOCI for 2025 and 2024, showing significant actuarial gains and losses.
NSPI's net periodic benefit cost (recovery) as at December 31 included the following: millions of dollars 2025 2024 Defined benefit pension plan Non-pension benefit plans Defined benefit pension plan Non-pension benefit plans Service cost...
AI summary NSPI's net periodic benefit cost (recovery) for 2025 and 2024 includes service cost, interest cost, and expected return on plan assets. The expected return is calculated based on the market-related value of plan assets, adjusted for interest and smoothed over five years.
Pension Plan Asset Allocations NSPI's registered defined benefit pension plan employs a long-term strategic approach with respect to asset allocation, real return and risk. The underlying objective is to earn an appropriate return given th...
AI summary NSPI's defined benefit pension plan follows a long-term strategic approach to asset allocation, aiming to achieve appropriate returns while preserving capital within acceptable risk levels. Investments are managed by external managers under the plan's investment policy, covering Canadian and global equities, bonds, and short-term assets.
NSPI's target asset allocation for 2025 and 2024 was as follows: Asset Class 2025 Target Range at Market 2024 Target Range at Market Short-term securities 0% to 10% 0% to 10% Fixed Income 34% to 49% 34% to 49% Equities Canadian 5% to 15% 5...
AI summary NSPI's target asset allocation for 2024 and 2025 includes ranges for short-term securities, fixed income, and equities, with oversight by the NSPI Management Pension Committee and adherence to Board-approved investment policies.
The fair value of investments as at December 31, 2025, by asset category, are as follows: millions of dollars NAV Level 1 Level 2 Total Percentage Cash and cash equivalents $ - $ 10 $ - $ 10 1% Equity Securities: Canadian equity - 114 - 11...
AI summary The fair value of investments as of December 31, 2025, is detailed by asset category. The majority of the investments are in open-ended funds measured at NAV, with significant portions in international equity and Canadian equity securities.
The fair value of investments as at December 31, 2024, by asset category, are as follows: millions of dollars NAV Level 1 Level 2 Total Percentage Cash and cash equivalents $ - $ 12 $ - $ 12 1% Equity Securities: Canadian equity - 107 - 10...
AI summary The fair value of investments as of December 31, 2024, is detailed by asset category, showing cash and cash equivalents, equity securities, fixed income, and open-ended investments measured at NAV. The total fair value is $1,464 million, with the largest portion (68%) in open-ended investments.
The following table shows the expected cash flows for defined benefit pension and other post-retirement benefit plans: millions of dollars Defined benefit pension plans Non-pension benefit plans Expected employer contributions 2026 $ 10 $...
AI summary The text presents a table outlining expected cash flows for defined benefit pension and other post-retirement benefit plans, including employer contributions and benefit payments from 2026 to 2035. Assumptions underpinning these projections are also mentioned.
As at December 31, 2025, future minimum lease payments under non-cancellable operating leases for each of the next five years and in aggregate thereafter are as follows: millions of dollars 2026 2027 2028 2029 2030 Thereafter Total Minimum...
AI summary The document outlines future minimum lease payments for NSPI as of December 31, 2025, with payments expected to decrease over the next five years and increase significantly thereafter. It also provides details on the weighted average remaining lease term and discount rate for operating leases.
As at December 31, 2025, future minimum lease payments to be received for each of the next five years and in aggregate thereafter are as follows: millions of dollars 2026 2027 2028 2029 2030 Thereafter Total Minimum lease payments to be re...
AI summary The document presents future minimum lease payments to be received from December 31, 2025, over the next five years and in aggregate thereafter. It also references a section on related party transactions, indicating a focus on financial obligations and relationships.
As at December 31, 2025, long-term debt maturities for each of the next five years and in aggregate thereafter are as follows: Years of maturity millions of dollars 2026 $ 40 2027 2028 2029 599 2030 Greater than 5 years 3,034 Total $ 3,673...
AI summary The document outlines long-term debt maturities for the next five years and beyond as of December 31, 2025, with a significant amount due in 2029 and beyond. It also references a section on Asset Retirement Obligations (ARO).
AROs mostly relate to the reclamation of land at the Company's thermal, hydro and combustion turbine sites; and the disposal of polychlorinated biphenyls in transmission and distribution equipment. Certain hydro, transmission and distribut...
AI summary Asset Retirement Obligations (AROs) are primarily related to land reclamation at thermal, hydro, and combustion turbine sites, as well as the disposal of polychlorinated biphenyls in transmission and distribution equipment. Some assets, such as hydro, transmission, and distribution assets, may have AROs that cannot be measured due to their indefinite use.
A. Commitments As at December 31, 2025, contractual commitments (excluding pensions and other post-retirement obligations, long-term debt, interest payment obligations, long-term payables and ARO) for each of the next five years and in agg...
AI summary This section outlines contractual commitments as of December 31, 2025, excluding certain obligations such as pensions, long-term debt, and ARO. It provides a breakdown of these commitments for the next five years and in aggregate thereafter.
Significant changes in the Consolidated Balance Sheets between December 31, 2025 and December 31, 2024 include: Increase millions of dollars (Decrease) Explanation Assets Receivables, net $ 140 Increased due to timing of billing and receip...
AI summary The Consolidated Balance Sheets show significant changes between December 31, 2025, and December 31, 2024, including increases in assets like receivables and property, plant and equipment, and changes in liabilities such as bank indebtedness and short-term debt. These changes are attributed to factors like timing of billing, capital investments, and regulatory deferrals.
Defined Benefit The following table shows years of credited service, estimated pension amounts and changes to accrued obligations from January 1, 2025 to December 31, 2025 for the NEOs who participated in the Pension Plan on a defined bene...
AI summary The text presents a table showing the estimated pension amounts and changes to accrued obligations for NEOs participating in the Pension Plan on a defined benefit basis from January 1, 2025, to December 31, 2025.
Revenues: (based on country of origin of the product or service sold) For the Year ended December 31 millions of dollars 2025 2024 United States $ 6,185 $ 4,712 Canada 2,014 1,922 Barbados 415 427 The Bahamas 162 139 $ 8,776 $ 7,200 PP&E:...
AI summary The text provides revenue and property, plant, and equipment (PP&E) data for the years 2025 and 2024, segmented by country. Revenue from the United States increased significantly, while PP&E in the United States also rose. A note mentions the sale of NMGC, which was classified as held for sale starting in Q3 2024.
The Company's net investment in direct finance and sales-type leases primarily relates to Brunswick Pipeline, Seacoast, compressed natural gas ("CNG") stations, a renewable natural gas ("RNG") facility and heat pumps. The Company manages i...
AI summary The Company's net investment includes direct finance and sales-type leases related to infrastructure like the Brunswick Pipeline, CNG stations, RNG facilities, and heat pumps. Risk management involves routine maintenance, and customers can purchase leased assets at the end of the lease term for a nominal fee or through a make-whole payment. Unearned income from these leases is recognized over the lease term and recorded as operating revenues and other income.
millions of dollars Regulatory assets Actuarial (gains) losses Past service gains DB Pension Plans: Balance, January 1, 2025 $ 363 $ (17) $ — Amortized in current period (9) 1 — Current year changes (51) (158) — Change in FX rate (16) — —...
AI summary The document provides a summary of financial changes in pension and non-pension benefit plans for Nova Scotia Power, including balances, amortizations, and changes in foreign exchange rates for the years ending December 31, 2025, and December 31, 2024. It also notes the classification of NMGC's assets and liabilities as held for sale following an announced agreement in August 2024.
27. Asset Retirement Obligations AROs mostly relate to reclamation of land at the thermal, hydro and combustion turbine sites; and the disposal of polychlorinated biphenyls in transmission and distribution equipment and a pipeline site. Ce...
AI summary Asset Retirement Obligations (AROs) primarily involve the reclamation of land at various sites and the disposal of polychlorinated biphenyls. Some assets, due to their indefinite use, make it difficult to estimate the fair value of related AROs.
The change in ARO for the years ended December 31 is as follows: millions of dollars 2025 2024 Balance, January 1 $ 217 $ 192 Accretion included in depreciation expense 11 10 Additions 5 11 Revisions in estimated cash flows — 2 Classified...
AI summary The document provides a summary of the change in ARO (Asset Retirement Obligation) for the years ended December 31, 2025 and 2024. It outlines key factors such as accretion, additions, revisions in estimated cash flows, and the impact of the sale of NMGC on the classification of assets and liabilities.
A. Commitments As at December 31, 2025, contractual commitments (excluding pensions and other post-retirement obligations, long-term debt and asset retirement obligations) for each of the next five years and in aggregate thereafter consist...
AI summary The text outlines contractual commitments as of December 31, 2025, excluding pensions, long-term debt, and asset retirement obligations, detailing commitments for each of the next five years and in aggregate thereafter.
30. Non-Controlling Interest in Subsidiaries As at millions of dollars December 31 2025 December 31 2024 Preferred shares of GBPC $ 14 $ 14 Preferred shares of GBPC
AI summary The document presents a table showing the preferred shares of GBPC as of December 31, 2025, and December 31, 2024, with no change in value between the two periods.
The following table provides information about Emera's portion of material unconsolidated VIEs: As at December 31, 2025 December 31, 2024 millions of dollars Total assets Maximum exposure to loss Total assets Maximum exposure to loss Uncon...
AI summary The table outlines Emera's portion of material unconsolidated VIEs, specifically NSPML, with details on total assets and maximum exposure to loss as of December 31, 2025 and 2024. The section 'Subsequent Events' indicates further information will be provided.
ACCOUNT SEGMENT Account Segment Value Account Segment Description 128400 ST DERIV ASSET HFT TREASURY 130050 ST REG ASSETS OTHER 130060 ST REG ASSET HYDRO GENERATION FACILITIES 130100 ST REG ASSET UNAMORT DEFEAS ISSUE COSTS 130200 ST REG AS...
AI summary The text presents a list of account segments with corresponding descriptions, highlighting various financial and regulatory assets, liabilities, and other related items. These segments include short-term and long-term assets, regulatory assets, deferred items, and other financial instruments.
2025 Actual 1 2 3 Amount 4 15 Net Plant in Service 5,045 447 Less: Impact of the Non-Regulated Adjustments (84) 448 Plus: Construction work in progress 340 449 Net Utility Fixed Assets 5,302 450 Add: 451 Deferred Charges & Credits 461 Fina...
AI summary The document presents a financial summary for 2025, detailing Net Plant in Service, Net Utility Fixed Assets, and various charges and credits. It includes figures for depreciation, amortization, income taxes, operating costs, and total revenue, highlighting key financial metrics for regulatory proceedings.
- 2) Allowance for materials and supplies is the ending balance as at December 31. No. Gross Book Value, Asset Additions Accest Transfers Accet Betiremente Total Bassaya baginning Asset Retirements Depreciation & Salvage & Cost of Reclassi...
AI summary This text refers to the ending balance of the allowance for materials and supplies as of December 31, followed by a table header that outlines various asset-related financial metrics, including gross book value, asset additions, retirements, depreciation, and adjustments.
2025 ARO Settled by Capital Item
AI summary The 2025 ARO Settled by Capital Item refers to the resolution of an asset retirement obligation in the year 2025, which was settled through a capital item. This indicates that the obligation was addressed by allocating capital rather than through other financial mechanisms.
$ millions Funding Project Number Funding Project Description ARO Settled C0060749 2024 Padmount Replacment Program (0.3) 23120-T003-820 PROVINCIAL-TRANS SUBSTATION PRIMARY (0.1) O0000370 Substation Ops Converted Projects (0.1) 23361-D008-...
AI summary This chunk outlines various funding projects and their associated costs, including replacement programs and infrastructure work. It also provides details on the 2025 Cost of Removal Continuity, including depreciation, salvage amounts, and settled costs for different asset categories. A correction is noted regarding the salvage amounts collected for Distribution assets, which will be addressed in the 2026 Financial Statements.
2025 Cost of Removal (COR) Incurred by Capital Item $ millions CI Number Funding Project Description COR Incurred Gas Turbine Generation Plant 5.7 5.1 0.1 0.4 General Plant 57.9 58.9 (1.0) - Hydro Generation Plant 15.4 13.5 0.4 1.4 Solar G...
AI summary The document presents the 2025 Cost of Removal (COR) incurred by various capital items, including gas turbine, hydro, solar, and wind generation plants, along with transmission and general plant categories. It includes figures for deferred accretion, accretion expense, and related liabilities.