N-12025 Financial Statement
6 passages
NSP Maritime Link Inc. Consolidated Balance Sheet As at December 31 millions of Canadian dollars 2025 2024 Assets Current assets Cash $ 15.3 $ 6.1 Restricted cash (note 1) 0.3 13.5 Due from related parties (note 10) 19.4 14.6 Regulatory as...
AI summary The consolidated balance sheet of NSP Maritime Link Inc. as of December 31, 2025, shows an increase in current assets, particularly in cash and regulatory assets, compared to 2024. Total assets decreased slightly, while liabilities increased, particularly long-term debt. Equity also decreased slightly over the same period.
Refund of prior year assessments to NSPI On November 29, 2024, the NSEB approved NSPML's application for the creation of a $500 million regulatory asset relating to a refund to NSPI for a portion of previous NSPML assessment payments to he...
AI summary The NSEB approved the creation of a $500 million regulatory asset for NSPML to refund NSPI for prior assessments related to the delayed Muskrat Falls project. The asset was amortized over 28 years, with $18.6 million amortized in 2025 and the unamortized balance at $481.4 million as of December 31, 2025.
Other current liabilities consisted of the following: As at December 31 December 31 millions of Canadian dollars 2025 2024 Accrued interest on long term debt (1) $ 5.2 $ 4.1 Other 3.3 2.8 $ 8.5 $ 6.9 (1) Accrued interest on long term debt...
AI summary The table outlines other current liabilities, specifically accrued interest on long-term debt and other liabilities, as of December 31, 2025, and 2024. Accrued interest on long-term debt is primarily composed of interest on bonds, with payments made semi-annually in accordance with the Maritime Link Credit Agreement.
12. LONG-TERM DEBT .
AI summary This section of the document discusses long-term debt, which is a key financial consideration for Nova Scotia Power and other entities involved in the regulatory proceeding.
Long-term debt as at December 31 consisted of the following: Stated Interest December 31 December 31 millions of Canadian dollars Rate Maturity 2025 2024 Series A Bond 3.5% 2052 $ 1,080.0 1,120.0 Series B Bond 4.048% 2052 482.9 500.0 $ Adj...
AI summary The text provides details on long-term debt as of December 31, 2024 and 2025, including bond series, interest rates, and maturity dates. It also describes the issuance of bonds by MLFT in 2014 to fund the Maritime Link Project.
On December 16, 2024 the MLFT amended the original FLG and completed an additional offering of $500 million aggregate principal amount of 4.048 per cent at a price of $999.57 per $1,000 principal amount of bonds for aggregate proceeds of a...
AI summary On December 16, 2024, MLFT amended the FLG and issued additional bonds totaling $500 million. The proceeds were used to refund NSPI for unrecovered replacement energy costs from the delayed Muskrat Falls project. The bonds are guaranteed by the Government of Canada and rated 'AAA'. Covenant requirements were amended, and the Company is in compliance. The debt is classified as 'Current portion of long-term debt' on the balance sheets.