N-12025 Financial Statement
9 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.
NSP Maritime Link Inc. Consolidated Statement of Cash Flows Year Ended December 31 millions of Canadian dollars 2025 2024 Operating activities Net income $ 41.1 $ 44.7 Adjustments to reconcile net income to net cash provided by operating a...
AI summary The consolidated statement of cash flows for NSP Maritime Link Inc. shows net cash provided by operating activities of 114.7 million Canadian dollars in 2025, compared to (387.6) million in 2024. Net income decreased from 44.7 million to 41.1 million during the same period. Significant adjustments include depreciation and amortization, and changes in regulatory assets and liabilities.
NSP Maritime Link Inc. Consolidated Statement of Changes in Equity millions of Canadian dollars Common Stock Retained Earnings Total Equity Balance December 31, 2024 $ 375.3 $ 99.9 $ 475.2 Net income - 41.1 41.1 Reduction of stated capital...
AI summary The document presents the consolidated statement of changes in equity for NSP Maritime Link Inc. for the years ending December 31, 2025 and 2024. It shows changes in common stock, retained earnings, and total equity, including net income, reductions in stated capital, and dividends declared.
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.
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.
16. VARIABLE INTEREST ENTITY The Company performs ongoing analysis to assess whether it holds any VIEs or whether any reconsideration events have arisen with respect to existing VIEs. To identify potential VIEs, management reviews contract...
AI summary The document discusses the Company's ongoing analysis of variable interest entities (VIEs), including the identification of potential VIEs through contract reviews. NSPML is identified as the primary beneficiary of MLFT, requiring consolidation of MLFT into NSPML's financial statements.
The following table provides information about NSPML's consolidated VIE, MLFT: As at December 31, 2025 December 31, 2024 Carrying Maximum Carrying Maximum millions of Canadian dollars amount exposure to loss amount exposure to loss VIE Lia...
AI summary The document provides details on NSPML's consolidated variable interest entity (VIE), MLFT, including its liabilities and the purpose of the entity. MLFT was established to obtain financing for a project, with proceeds used for construction costs under a federal loan guarantee. The entity amended its FLG to refund NSPI for prior assessment payments.
N-5NSPML (NSEB) RIR 1 to 19 - Redacted
29 passages
1 Request IR-03: 2 3 Please provide a detailed breakdown of all balances due to and from related parties and 4 reconcile differences between the presentation of these balances in the regulated and 5 consolidated financial statements. 6 7 R...
AI summary The request asks for a detailed breakdown of balances due to and from related parties and a reconciliation of these balances between regulated and consolidated financial statements. The response refers to tables provided for this information.
NON-CONFIDENTIAL Request IR-04: Provide a reconciliation of interest expense between regulated and consolidated financial statements for 2025. Response IR-04: The variance between the regulated and consolidated financial statement interest...
AI summary The response to Request IR-04 explains a $23.2 million variance in interest expense between regulated and consolidated financial statements for 2025, primarily due to FLG2 interest adjustments and unregulated interest from disallowed ML project costs.
Request IR-05: - a) Please provide a detailed breakdown of the deferred income tax regulatory asset balance of $188.3 million as reported for 2025. - b) In addition, include supporting schedules that show the changes in the balance during...
AI summary The document requests a detailed breakdown and supporting schedules for the deferred income tax regulatory asset balance of $188.3 million as reported for 2025, with a response indicating a reconciliation of a $17.5 million change in the balance.
NSP Maritime Link Incorporated Change in Deferred Income Tax Regulatory Asset For the year ended December 31, 2025 In millions 2024 Deferred Income Tax 2024 Deferred Income Tax 2025 Deferred Income Tax 2025 Deferred Income Tax Change in Re...
AI summary The document details changes in the deferred income tax regulatory asset for NSP Maritime Link Incorporated for the year ended December 31, 2025. It includes a breakdown of changes in various components such as property, plant and equipment, net operating loss carryforwards, and regulatory assets. Additionally, it outlines a response to a request regarding changes in common stock, attributing the change to the return of stated capital linked to FLG1 debt payments.
14 b) The engineering and inspection activity that was deferred to 2026 is currently scheduled to 15 be completed in May 2026. 1 Request IR-08: 2 a) Please provide the unconsolidated financial statements for the year ended December 3 31, 2...
AI summary The engineering and inspection activity deferred to 2026 is now scheduled for completion in May 2026. The request for unconsolidated financial statements and related reconciliations for the year ended December 31, 2025, has been addressed with attachments providing the required financial information in Excel format.
11 Description Total ($m) Accrued interest on long term debt relating to FLG1 3.2 Employee compensation; including payroll, incentive, performance share units, restricted share units, and deferred share units 3.0 derivative instrument (hed...
AI summary The text presents a table with descriptions and associated monetary values, primarily detailing accrued interest on long-term debt, employee compensation, and various short-term liabilities. The table appears to be part of a financial report or regulatory filing.
14 Description Total ($m) Long-term operating lease liabilities 1.4 Employee compensation; including restricted and deferred share units 0.4 Total 1.8 1 In 2025, Emera entered into a EUR hedging derivative on behalf of NSPML to de-risk cur...
AI summary The text discusses financial liabilities related to long-term operating leases and employee compensation for NSPML, including a EUR hedging derivative entered into by Emera in 2025 to manage currency exposure.
10 PPE Continuity 2025 2024 Opening CWIP Balance Additions 1,769.2 1,765.4 Converters, structures, and other ancillary equipment - 0.1 AC and DC Transmission 0.1 0.1 Submarine Cable Protection 7.4 3.6 Ending CWIP Balance 1,776.7 1,769.2 Ac...
AI summary The document presents a table showing the PPE Continuity for 2025 and 2024, including opening and ending CWIP balances and accumulated depreciation. It also includes a request (IR-12) and response related to tax returns, Notices of Assessment, and other tax-related information for NSPML and the Maritime Link Financing Trust.
NSPML - 2024 - T2.224 2024-12-31 NSP Maritime Link Incorporated 2025-06-11 15:24 82957 4318 RC0001 NSPML 2025 Financial Statements and Cost Containment Reports NSEB IR-12 Attachment 1 Page 2 of 79 REDACTED
AI summary The document contains a redacted page from the 2025 Financial Statements and Cost Containment Reports for NSP Maritime Link Incorporated, submitted to the NSEB as part of the IR-12 process.
NSPML 2025 Financial Statements and Cost Containment Reports NSEB IR-12 Attachment 1 Page 7 of 79 REDACTED NSP Maritime Link Incorporated 82957 4318 RC0001 ess deduction (continued) ———————————————————————————————————— tion 125(3.2) Specif...
AI summary The text includes a table related to specified corporate income deductions, showing columns for the name of the corporation receiving income, business numbers, income paid, and business limits assigned. The table appears to be part of financial reporting for NSP Maritime Link Incorporated.
- For more information, see Guide RC4088, General Index of Financial Information (GIFI), and Guide T4012, T2 Corporation Income Tax Guide. Part 1 – Information on the person primarily involved with the financial information Provided accoun...
AI summary The text outlines financial information reporting requirements, including the preparation of corporate income tax returns and the absence of reservations, notes to financial statements, subsequent events, contingent liabilities, commitments, and investments in joint ventures or partnerships.
GENERAL INDEX OF FINANCIAL INFORMATION - GIFI Form identif fier 100 Name of co orporation Business Number Tax year-end Year Month Day NSP Mari time Link Incorporated 82957 4318 RC0001 2024-12-31 Assets – lines 1000 to 2599 1000 6,060,792 1...
AI summary The text presents a General Index of Financial Information (GIFI) for NSP Maritime Link Incorporated, detailing financial line items such as assets, liabilities, shareholder equity, and retained earnings for the tax year ending December 31, 2024.
Bond Hedge Amortization
AI summary The text refers to 'Bond Hedge Amortization,' which relates to financial practices involving bonds and their amortization. However, the content is limited and does not provide further details or context.
NSPML 2025 Financial Statements and Cost Containment Reports NSEB IR-12 Attachment 1 Page 19 of 79 REDACTED NSP Maritime Link Incorporated 82957 4318 RC0001 1 Description 705 2 Amount 395 4 Deduction under 20(1)(f) ITA 16,741 5 Lease Payme...
AI summary The document presents financial data related to NSP Maritime Link Incorporated, including deductions under the Income Tax Act, lease payments, marine survey costs deferral, and other financial line items. It includes a net income (loss) for income tax purposes, indicating a significant negative figure.
С NSPML - 2024 - T2.224 NSPML 2025 Financial Statements and Cost Containment Reports NSEB IR-12 Attachment 1 Page 22 of 79 REDACTED NSP Maritime Link Incorporated 2025-06-11 15:24
AI summary The document refers to the 2025 Financial Statements and Cost Containment Reports for NSP Maritime Link Incorporated, attached to NSEB IR-12, page 22 of 79, which is redacted.
82957 4318 RC0001 2025-06- 11 15:24 82957 4318 RC0001 – Part 1D – Information on loans and o ther financings an d related deriva tives ——— Comple te the following table if the corporation has a loan or other financing - 1 2 3 4 5 Relations...
AI summary The document contains a table related to financial information, specifically focusing on loans, financings, and derivatives. It also includes a section on IFE (Income from Eligible Partnerships) allocated from partners, with details on partnership accounts and income allocations.
023 - Part 2A – Interest and financing expenses (IFE) ———————————————————————————————————— Variable A: Total of all amounts (other than an amount included in exempt IFE), each of which is: An amount (other than excluded interest , deemed i...
AI summary This section outlines the calculation of interest and financing expenses (IFE) for a corporation, including amounts paid or payable on borrowings, other interest, and amounts related to agreements or arrangements affecting financing costs. Specific figures are provided for various categories of IFE.
Total of column 5 (enter on line 031 in Part 2A) 7 8 9 10 Foreign exploration and development expenses (FEDE) – regular expenses FEDE – successor expenses Cumulative foreign resource expenses (CFRE) - regular expenses CFRE - successor expe...
AI summary The text includes a table with financial terms and expenses related to NSPML's 2025 financial statements and cost containment reports, including foreign exploration and development expenses and cumulative foreign resource expenses.
NSPML - 2024 - T2.224 2024-12-31 NSP Maritime Link Incorporated 2025-06-11 15:24 82957 4318 RC0001 NSPML 2025 Financial Statements and Cost Containment Reports NSEB IR-12 Attachment 1 Page 33 of 79 REDACTED
AI summary This document contains a redacted page from the 2025 Financial Statements and Cost Containment Reports of NSP Maritime Link Incorporated, submitted to NSEB IR-12 as Attachment 1.
NSPML 2025 Financial Statements and Cost Containment Reports NSEB IR-12 Attachment 1 Page 38 of 79 REDACTED 2024-12-31 NSP Maritime Link Incorporated 82957 4318 RC0001
AI summary The document contains redacted pages from NSPML's 2025 Financial Statements and Cost Containment Reports, specifically page 38 of 79, as of December 31, 2024.
82057-4318 RC0001 Year of origin: Federal Québec Alberta 1 prior year 2023-12-31 ———————————————————————————————————— 2025-06-11 15:24 – Amounts c carried forward – Addition al deduction for gifts of a medicine ——— 82957 4318 RC000 Total c...
AI summary The text appears to be a portion of a financial or accounting table, likely related to the recording of gifts of musical instruments and their adjustments. It includes line items such as 'Total current-year gifts of musical instruments' and 'Adjustment for an acquisition of control.'
NSPML 2025 Financial Statements and Cost Containment Reports NSEB IR-12 Attachment 1 Page 41 of 79 REDACTED NSP Maritime Link Incorporated 82957 4318 RC0001 Year of origin: Québec 1 st prior year 2023-12-31 2 nd prior year 2022-12-31 3 rd...
AI summary The document provides a table listing various years of origin, including dates from 2010 to 2023, with some years marked as 'REDACTED' or missing data. The table appears to be part of the NSPML 2025 Financial Statements and Cost Containment Reports, related to NSP Maritime Link Incorporated.
NSPML 2025 Financial Statements and Cost Containment Reports NSEB IR-12 Attachment 1 Page 45 of 79 REDACTED NSP Maritime Link Incorporated
AI summary The document contains financial statements and cost containment reports for NSPML in 2025, including information related to NSP Maritime Link Incorporated. The content is partially redacted.
Continuity of financial statement reserves (not deductible) Financial statement reserves (not deductible) Description Balance at the beginning of the year Transfer on an amalgamation or the wind-up of a subsidiary Add Deduct Balance at the...
AI summary This section presents a table detailing the continuity of financial statement reserves that are not deductible. It includes balances at the beginning and end of the year, as well as transfers and adjustments related to amalgamation or the wind-up of a subsidiary.
Line 112 is determined by the formula (A – B) x C/D (as per paragraph 181.2(3)(g)) where: - A is the total of all amounts that would be determined for lines 101, 107, 108, 109, and 111 in respect of the partnership for its last fiscal peri...
AI summary The text outlines a formula used to determine Line 112 in financial statements, involving adjustments for deferred unrealized foreign exchange losses and shares of income or loss. It references NSPML's 2025 Financial Statements and Cost Containment Reports.
Attached Schedule with Total Part 1 – All loans and advances to the corporation
AI summary The text begins with a heading 'Attached Schedule with Total' and lists 'Part 1 – All loans and advances to the corporation.' This section likely outlines financial details related to loans and advances made to the corporation, though the content is not fully provided.
NSPML 2025 Financial Statements and Cost Containment Reports NSEB IR-12 Attachment 1 Page 68 of 79 REDACTED NSP Maritime Link Incorporated 82957 4318 RC0001 NSPML - 2024 - T2.224 2025-06-11 15:24 Canada Revenue Agency Agence du revenu du C...
AI summary This document includes a redacted section from the 2025 Financial Statements and Cost Containment Reports of NSP Maritime Link Incorporated, along with a reference to Schedule 54 from the Canada Revenue Agency.
NSPML 2025 Financial Statements and Cost Containment Reports NSEB IR-12 Attachment 1 Page 71 of 79 REDACTED NSP Maritime Link Incorporated 82957 4318 RC0001 Adjustment date
AI summary The text provides a section from the 2025 Financial Statements and Cost Containment Reports for NSP Maritime Link Incorporated, including a partially redacted table with adjustment dates and financial data.
T3 RET E 25) Page 5 of 6 Step 5 – Summary of tax and credits (continued) Newfoundland and Labrador research and development tax credit 901 • 59 British Columbia mining exploration tax credit 903 + • 60 Federal environmental trust tax credi...
AI summary This table summarizes various provincial and federal tax credits, including research and development, environmental trust, and energy-related credits. It lists the credits along with their respective numbers and indicators, and provides a total of other credits.