Segmented information

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Segmented information

Segmented information

The Company’s management’s reporting structure is aligned under three business units: Generation, Transmission and Distribution. During the fourth quarter, Management determined that each business unit represents a reporting segment. The comparative information for 2014 has been reclassified to conform with the composition of the reporting segments presented in the current year.

Generation, owns or has interests in hydroelectric, solar, wind power facilities and co-generation. Distribution operates electric, natural gas and water distribution utilities. Finally, Transmission invests in rate regulated electric transmission and natural gas pipeline systems. The Transmission segment includes the equity method investment in the Natural Gas Pipeline Development (note 8(c)) which is not yet significant and as a result is not presented separately in the tables below but grouped within Corporate.

For purposes of evaluating divisional performance, the Company allocates the realized portion of any gains or losses on financial instruments to specific divisions. The unrealized portion of any gains or losses on derivative instruments not designated in a hedging relationship is not considered in management’s evaluation of divisional performance and is therefore allocated and reported in the corporate segment. The results of operations and assets for these segments are reflected in the tables below.

	Year ended December 31, 2015
	Generation			Distribution			Corporate			Total
Revenue	$	244,751		$	783,104		$	—		$	1,027,855
Fuel and power purchased	27,990			348,883			—			376,873
Net revenue	216,761			434,221			—			650,982
Operating expenses	63,601			213,750			1,210			278,561
Administrative expenses	10,822			21,570			8,283			40,675
Depreciation and amortization	67,293			82,513			—			149,806
Gain on foreign exchange	—			—			(2,631		)	(2,631		)
Operating income (loss) from continuing operations	75,045			116,388			(6,862		)	184,571
Interest expense	29,395			34,971			1,627			65,993
Interest, dividend, equity and other income	(1,154		)	(3,974		)	(3,967		)	(9,095		)
Other expenses (gain)	(5,623		)	391			2,656			(2,576		)
Earnings (loss) before income taxes	$	52,427		$	85,000		$	(7,178	)	$	130,249
Property, plant and equipment	$	1,895,617		$	1,914,980		$	63,087		$	3,873,684
Equity-method investees	44,638			769			7,066			52,473
Total assets	2,345,905			2,532,894			112,926			4,991,725
Capital expenditures	55,992			141,445			6,758			204,195

21. Segmented information (continued)

	Year ended December 31, 2014
	Generation			Distribution			Corporate			Total
Revenue	$	218,765		$	722,849		$	—		$	941,614
Fuel and power purchased	39,264			381,622			—			420,886
Net revenue	179,501			341,227			—			520,728
Operating expenses	55,482			178,248			308			234,038
Administrative expenses	13,457			19,947			1,288			34,692
Depreciation and amortization	58,248			53,671			2,128			114,047
Gain on foreign exchange	—			—			(1,112		)	(1,112		)
	52,314			89,361			(2,612		)	139,063
Interest expense	33,868			27,139			1,411			62,418
Interest, dividend and other income	(1,187		)	(3,369		)	(3,202		)	(7,758		)
Other expense (gain)	48			300			11,606			11,954
Earnings (loss) before income taxes	$	19,585		$	65,291		$	(12,427	)	$	72,449
Property, plant and equipment	$	1,687,465		$	1,531,166		$	59,791		$	3,278,422
Equity-method investees	3,520			500			2,578			6,598
Total assets	1,896,265			2,098,244			108,339			4,102,848
Capital expenditures	201,063			176,849			54,461			432,373

The majority of non-regulated energy sales are earned from contracts with large public utilities. The following utilities contributed more than 10% of these total revenues in either 2015 or 2014: Hydro Québec 13% (2014 - 11%); Manitoba Hydro 13% (2014 - 13%); PJM 14% (2014 - 10%); and ComEd 11% (2014 - 10%). The Company has mitigated its credit risk to the extent possible by selling energy to large utilities in various North American locations.

APUC operates in the independent power and utility industries in both Canada and the United States. Information on operations by geographic area is as follows:

	2015		2014
Revenue
Canada	$	86,977	$	92,267
United States	940,878		849,347
	$	1,027,855	$	941,614
Property, plant and equipment
Canada	$	592,598	$	590,580
United States	3,281,086		2,687,842
	$	3,873,684	$	3,278,422
Intangible assets
Canada	$	40,186	$	25,601
United States	37,777		28,410
	$	77,963	$	54,011

Revenue is attributed to the two countries based on the location of the underlying generating and utility facilities.