Fortis (FTS) 6-K 29 Jul 21 2021 Q2 Fortis Inc. Releases Second Quarter 2021 Results and Financial data

Cover Page

Cover Page	6 Months Ended
	Jun. 30, 2021
Cover [Abstract]
Document Type	6-K
Entity Registrant Name	Fortis Inc.
Entity Address, Address Line Three	Fortis Place
Entity Address, Address Line Two	Suite 1100
Entity Address, Address Line One	5 Springdale Street
Entity Address, City or Town	St. John's
Entity Address, State or Province	NL
Entity Address, Country	CA
Entity Address, Postal Zip Code	A1E 0E4
Entity Central Index Key	0001666175
Current Fiscal Year End Date	--12-31
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Interim

Condensed Consolidated Interim Balance Sheets (Unaudited) - CAD ($) $ in Millions		Jun. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents		$ 599	$ 249
Accounts receivable and other current assets (Note 5)		1,370	1,369
Prepaid expenses		77	102
Inventories		415	422
Regulatory assets (Note 6)		570	470
Total current assets		3,031	2,612
Other assets		706	670
Regulatory assets (Note 6)		3,128	3,118
Property, plant and equipment, net		36,230	35,998
Intangible assets, net		1,274	1,291
Goodwill		11,526	11,792
Total assets		55,895	55,481
Current liabilities
Short-term borrowings (Note 7)		269	132
Accounts payable and other current liabilities		2,058	2,321
Regulatory liabilities (Note 6)		430	441
Current installments of long-term debt (Note 7)		723	1,254
Total current liabilities		3,480	4,148
Other liabilities		1,542	1,599
Regulatory liabilities (Note 6)		2,643	2,662
Deferred income taxes		3,436	3,344
Long-term debt (Note 7)		23,942	23,113
Finance leases		330	331
Total liabilities		35,373	35,197
Commitments and contingencies (Note 14)
Equity
Common shares	[1]	14,040	13,819
Preference shares (Note 8)		1,623	1,623
Additional paid-in capital		8	11
Accumulated other comprehensive income		(299)	34
Retained earnings		3,581	3,210
Shareholders' equity		18,953	18,697
Non-controlling interests		1,569	1,587
Total equity		20,522	20,284
Total liabilities and equity		$ 55,895	$ 55,481
[1]	No par value. Unlimited authorized shares. 471.2 million and 466.8 million issued and outstanding as at June 30, 2021 and December 31, 2020, respectively.

Condensed Consolidated Interi_2

Condensed Consolidated Interim Balance Sheets (Unaudited) (Parenthetical) - shares shares in Millions	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock, shares issued (in shares)	471.2	466.8
Common stock, shares outstanding (in shares)	471.2	466.8

Condensed Consolidated Interi_3

Condensed Consolidated Interim Statements of Earnings (Unaudited) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenue	$ 2,130	$ 2,077	$ 4,669	$ 4,468
Expenses
Energy supply costs	593	514	1,442	1,264
Operating expenses	611	599	1,261	1,225
Depreciation and amortization	369	366	741	723
Total expenses	1,573	1,479	3,444	3,212
Operating income	557	598	1,225	1,256
Other income, net (Note 10)	42	47	92	56
Finance charges	255	263	507	519
Earnings before income tax expense	344	382	810	793
Income tax expense	48	58	118	116
Net earnings	296	324	692	677
Net earnings attributable to:
Non-controlling interests	27	33	52	58
Preference equity shareholders	16	17	32	33
Common equity shareholders	253	274	608	586
Net earnings	$ 296	$ 324	$ 692	$ 677
Earnings per common share (Note 11)
Basic (CAD per share)	$ 0.54	$ 0.59	$ 1.30	$ 1.26
Diluted (CAD per share)	$ 0.54	$ 0.59	$ 1.30	$ 1.26

Condensed Consolidated Interi_4

Condensed Consolidated Interim Statements of Comprehensive Income (Unaudited) - CAD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net earnings		$ 296	$ 324	$ 692	$ 677
Other comprehensive (loss) income
Unrealized foreign currency translation (losses) gains	[1]	(188)	(545)	(377)	657
Other	[2]	2	(1)	4	(22)
Other comprehensive (loss) income		(186)	(546)	(373)	635
Comprehensive income (loss)		110	(222)	319	1,312
Comprehensive income attributable to:
Non-controlling interests		7	(26)	12	124
Preference equity shareholders		16	17	32	33
Common equity shareholders		87	(213)	275	1,155
Comprehensive income (loss)		$ 110	$ (222)	$ 319	$ 1,312
[1]	Net of hedging activities and income tax expense of $2 million and $4 million for the three and six months ended June 30, 2021, respectively (three and six months ended June 30, 2020 - income tax (expense) recovery of $(6) million and $6 million, respectively)
[2]	Net of income tax expense of $1 million for the three and six months ended June 30, 2021 (three and six months ended June 30, 2020 - income tax recovery of $nil and $9 million, respectively)

Condensed Consolidated Interi_5

Condensed Consolidated Interim Statements of Comprehensive Income (Unaudited) (Parenthetical) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Unrealized foreign currency translation, tax (expense) recovery	$ (2)	$ (6)	$ (4)	$ 6
Other, tax recovery	$ (1)	$ 0	$ (1)	$ 9

Condensed Consolidated Interi_6

Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Operating activities
Net earnings	$ 296	$ 324	$ 692	$ 677
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation - property, plant and equipment	322	329	646	650
Amortization - intangible assets	34	34	68	66
Amortization - other	13	3	27	7
Deferred income tax expense	19	60	65	119
Equity component, allowance for funds used during construction (Note 10)	(17)	(21)	(39)	(35)
Other	47	23	67	70
Change in long-term regulatory assets and liabilities	(14)	0	0	(58)
Change in working capital (Note 12)	40	(27)	(47)	(181)
Cash from operating activities	740	725	1,479	1,315
Investing activities
Capital expenditures - property, plant and equipment	(751)	(725)	(1,515)	(1,836)
Capital expenditures - intangible assets	(39)	(50)	(79)	(101)
Contributions in aid of construction	20	16	34	33
Other	(50)	(49)	(98)	(93)
Cash used in investing activities	(820)	(808)	(1,658)	(1,997)
Financing activities
Proceeds from long-term debt, net of issuance costs	1,032	1,685	1,126	2,044
Repayments of long-term debt and finance leases	(116)	(585)	(122)	(602)
Borrowings under committed credit facilities	1,001	1,251	2,268	3,007
Repayments under committed credit facilities	(1,417)	(1,491)	(2,572)	(2,754)
Net change in short-term borrowings	38	(394)	144	(526)
Issue of common shares, net of costs and dividends reinvested	9	10	44	44
Dividends
Common shares, net of dividends reinvested	(150)	(211)	(297)	(424)
Preference shares	(16)	(17)	(32)	(33)
Subsidiary dividends paid to non-controlling interests	(10)	(9)	(28)	(34)
Other	(14)	(38)	(5)	(35)
Cash from financing activities	357	201	526	687
Effect of exchange rate changes on cash and cash equivalents	5	(10)	3	5
Change in cash and cash equivalents	282	108	350	10
Cash and cash equivalents, beginning of period	317	272	249	370
Cash and cash equivalents, end of period	$ 599	$ 380	$ 599	$ 380

Condensed Consolidated Interi_7

Condensed Consolidated Interim Statements of Changes in Equity (Unaudited) - CAD ($) shares in Millions, $ in Millions	Total	Common Shares	Preference Shares (Note 8)	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Non-Controlling Interests
Balance, beginning of period (shares) at Dec. 31, 2019		463.3
Balance, beginning of period at Dec. 31, 2019	$ 20,113	$ 13,645	$ 1,623	$ 11	$ 336	$ 2,916	$ 1,582
Increase (Decrease) in Equity [Roll Forward]
Net earnings	677					619	58
Other comprehensive (loss) income	635				569		66
Common shares issued (shares)		1.3
Common shares issued	61	$ 63		(2)
Subsidiary dividends paid to non-controlling interests	(34)						(34)
Dividends declared on common shares	(223)					(223)
Dividends on preference shares	(33)					(33)
Other	(13)			1			(14)
Balance, end of period (shares) at Jun. 30, 2020		464.6
Balance, end of period at Jun. 30, 2020	21,183	$ 13,708	1,623	10	905	3,279	1,658
Balance, beginning of period (shares) at Mar. 31, 2020		464.2
Balance, beginning of period at Mar. 31, 2020	21,419	$ 13,688	1,623	10	1,392	3,005	1,701
Increase (Decrease) in Equity [Roll Forward]
Net earnings	324					291	33
Other comprehensive (loss) income	(546)				(487)		(59)
Common shares issued (shares)		0.4
Common shares issued	20	$ 20
Subsidiary dividends paid to non-controlling interests	(9)						(9)
Dividends on preference shares	(17)					(17)
Other	(8)						(8)
Balance, end of period (shares) at Jun. 30, 2020		464.6
Balance, end of period at Jun. 30, 2020	21,183	$ 13,708	1,623	10	905	3,279	1,658
Balance, beginning of period (shares) at Dec. 31, 2020		466.8
Balance, beginning of period at Dec. 31, 2020	20,284	$ 13,819	1,623	11	34	3,210	1,587
Increase (Decrease) in Equity [Roll Forward]
Net earnings	692					640	52
Other comprehensive (loss) income	(373)				(333)		(40)
Common shares issued (shares)		4.4
Common shares issued	219	$ 221		(2)
Subsidiary dividends paid to non-controlling interests	(28)						(28)
Dividends declared on common shares	(237)					(237)
Dividends on preference shares	(32)					(32)
Other	(3)			(1)			(2)
Balance, end of period (shares) at Jun. 30, 2021		471.2
Balance, end of period at Jun. 30, 2021	20,522	$ 14,040	1,623	8	(299)	3,581	1,569
Balance, beginning of period (shares) at Mar. 31, 2021		469.4
Balance, beginning of period at Mar. 31, 2021	20,346	$ 13,944	1,623	10	(133)	3,328	1,574
Increase (Decrease) in Equity [Roll Forward]
Net earnings	296					269	27
Other comprehensive (loss) income	(186)				(166)		(20)
Common shares issued (shares)		1.8
Common shares issued	96	$ 96
Subsidiary dividends paid to non-controlling interests	(10)						(10)
Dividends on preference shares	(16)					(16)
Other	(4)			(2)			(2)
Balance, end of period (shares) at Jun. 30, 2021		471.2
Balance, end of period at Jun. 30, 2021	$ 20,522	$ 14,040	$ 1,623	$ 8	$ (299)	$ 3,581	$ 1,569

Condensed Consolidated Interi_8

Condensed Consolidated Interim Statements of Changes in Equity (Unaudited) (Parenthetical) - $ / shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement of Stockholders' Equity [Abstract]
Dividends declared on common shares (CAD per share)	$ 0.505	$ 0.4775

Description of Business

Description of Business	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	DESCRIPTION OF BUSINESS Nature of Operations Fortis Inc. ("Fortis" or the "Corporation") is a well-diversified North American regulated electric and gas utility holding company. Earnings for interim periods may not be indicative of annual results due to the impact of seasonal weather conditions on customer demand and market pricing and the timing and recognition of regulatory decisions. Earnings of the gas utilities tend to be highest in the first and fourth quarters due to space-heating requirements. Earnings of the electric distribution utilities in the United States tend to be highest in the second and third quarters due to the use of air conditioning and other cooling equipment. Entities within the reporting segments that follow operate with substantial autonomy. Regulated Utilities ITC: ITC Investment Holdings Inc., ITC Holdings Corp. and the electric transmission operations of its regulated operating subsidiaries, which include International Transmission Company, Michigan Electric Transmission Company, LLC, ITC Midwest LLC and ITC Great Plains, LLC. Fortis owns 80.1% of ITC and an affiliate of GIC Private Limited owns a 19.9% minority interest. UNS Energy: UNS Energy Corporation, which primarily includes Tucson Electric Power Company, UNS Electric, Inc. and UNS Gas, Inc. Central Hudson: CH Energy Group, Inc,. which primarily includes Central Hudson Gas & Electric Corporation. FortisBC Energy: FortisBC Energy Inc. FortisAlberta: FortisAlberta Inc. FortisBC Electric: FortisBC Inc. Other Electric: Eastern Canadian and Caribbean utilities, as follows: Newfoundland Power Inc.; Maritime Electric Company, Limited; FortisOntario Inc.; a 39% equity investment in Wataynikaneyap Power Limited Partnership; an approximate 60% controlling interest in Caribbean Utilities Company, Ltd. ("Caribbean Utilities"); FortisTCI Limited and Turks and Caicos Utilities Limited (collectively "FortisTCI"); and a 33% equity investment in Belize Electricity Limited ("Belize Electricity"). Non-Regulated Energy Infrastructure: Long-term contracted generation assets in Belize and the Aitken Creek natural gas storage facility ("Aitken Creek") in British Columbia. Corporate and Other : Captures expenses and revenues not specifically related to any reportable segment and those business operations that are below the required threshold for segmented reporting, including net corporate expenses of Fortis.

Regulatory Developments

Regulatory Developments	6 Months Ended
	Jun. 30, 2021
Regulated Operations [Abstract]
Regulatory Developments	REGULATORY DEVELOPMENTS Regulation of the Corporation's utilities is generally consistent with that disclosed in Note 2 of the Corporation's annual audited consolidated financial statements ("2020 Annual Financial Statements"). A summary of significant regulatory developments year-to-date 2021 follows. ITC Transmission Incentives: In April 2021, the Federal Energy Regulatory Commission ("FERC") issued a supplemental notice of proposed rulemaking ("NOPR") on transmission incentives modifying the proposal in the initial NOPR released in March 2020. The supplemental NOPR proposes to eliminate the 50-basis point regional transmission organization ("RTO") return on common equity ("ROE") incentive adder for existing RTO members that have been members longer than three years, like ITC. In June 2021, ITC filed its comments on the supplemental NOPR supporting the continuation of the ROE incentive adder for RTO members. The timeline for FERC to issue a final rule in this proceeding as well as the likely outcome and potential impacts to Fortis cannot be determined at this time. Central Hudson General Rate Application: In August 2020, Central Hudson filed a rate application with the New York State Public Service Commission ("PSC") requesting an increase in electric and natural gas delivery revenue of $44 million and $19 million, respectively, effective July 1, 2021. In January 2021, Central Hudson filed a notice of impending settlement negotiations and negotiations began in February 2021. An order from the PSC is expected in 2021. COVID-19 Proceeding: The generic proceeding initiated by the PSC in June 2020 to identify and address the financial effects of the novel coronavirus ("COVID-19") pandemic and any associated cost recovery is ongoing. The potential impacts of this proceeding are unknown at this time. FortisBC Energy and FortisBC Electric Generic Cost of Capital ("GCOC") Proceeding: In January 2021, the British Columbia Utilities Commission announced the initiation of a GCOC proceeding including a review of the common equity component of capital structure and the allowed ROE. The scope and timeline of the proceeding continues to evolve and the effective date of any change in the cost of capital is unknown at this time. FortisAlberta GCOC Proceeding: In March 2021, the Alberta Utilities Commission ("AUC") concluded the 2022 GCOC proceeding and extended the existing allowed ROE of 8.5% using a 37% equity component of capital structure through 2022. The Office of the Utilities Consumer Advocate ("UCA") has filed an application seeking permission to appeal the decision to the Alberta Court of Appeal. The Office of the UCA also filed an application with the AUC in April 2021 and a decision on whether the AUC will review, and potentially vary, its 2022 GCOC decision is expected in the third quarter of 2021. 2023 Generic Cost of Service ("COS") Application: The final year of FortisAlberta's second PBR term is 2022. In June 2021, the AUC issued a decision confirming the approach to be adopted by Alberta distribution utilities for the COS rebasing year in 2023. FortisAlberta is required to file its 2023 COS application in the fourth quarter of 2021. Third Performance-Based Rate-Setting ("PBR") Term : In July 2021, the AUC issued a decision confirming that Alberta distribution utilities will be subject to a third PBR term commencing in 2024 with going-in rates based on the 2023 COS rebasing. The AUC also initiated a new proceeding to consider the design of the third PBR term. FortisAlberta will submit comments with respect to the design of the third PBR term in 2022 and a decision from the AUC is expected in 2023. Independent System Operator Tariff Proceeding: In April 2021, the AUC issued a decision confirming that distribution facility owners, such as FortisAlberta, will no longer be permitted to earn a return on contributions made to the Alberta Electric System Operator on a prospective basis from the date of the decision. Contributions made prior to that date are not impacted. This decision is not expected to have a material financial impact on the Corporation.

Accounting Policies

Accounting Policies	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Accounting Policies	ACCOUNTING POLICIES These condensed consolidated interim financial statements ("Interim Financial Statements") have been prepared and presented in accordance with accounting principles generally accepted in the United States of America for rate-regulated entities and are in Canadian dollars unless otherwise indicated. The Interim Financial Statements include the accounts of the Corporation and its subsidiaries and reflect the equity method of accounting for entities in which Fortis has significant influence, but not control, and proportionate consolidation for assets that are jointly owned with non-affiliated entities. Intercompany transactions have been eliminated, except for transactions between non-regulated and regulated entities in accordance with US GAAP for rate-regulated entities. These Interim Financial Statements do not include all of the disclosures required in the annual financial statements and should be read in conjunction with the Corporation's 2020 Annual Financial Statements. In management's opinion, these Interim Financial Statements include all adjustments that are of a normal recurring nature, necessary for fair presentation. The preparation of the Interim Financial Statements requires management to make estimates and judgments, including those related to regulatory decisions, that affect the reported amounts of, and disclosures related to, assets, liabilities, revenues, expenses and contingencies. Actual results could differ materially from estimates. The accounting policies applied herein are consistent with those outlined in the Corporation's 2020 Annual Financial Statements. Future Accounting Pronouncements The Corporation considers the applicability and impact of all Accounting Standards Updates ("ASUs") issued by the Financial Accounting Standards Board. Any ASUs not included in these Interim Financial Statements were assessed and determined to be either not applicable to the Corporation or are not expected to have a material impact on the Interim Financial Statements.

Segmented Information

Segmented Information	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Segmented Information	SEGMENTED INFORMATION Fortis segments its business based on regulatory jurisdiction and service territory, as well as the information used by its President and Chief Executive Officer in deciding how to allocate resources. Segment performance is evaluated principally on net earnings attributable to common equity shareholders. Related-Party and Inter-Company Transactions Related-party transactions are in the normal course of operations and are measured at the amount of consideration agreed to by the related parties. There were no material related-party transactions for the three and six months ended June 30, 2021 and 2020. The lease of gas storage capacity and gas sales from Aitken Creek to FortisBC Energy of $7 million and $15 million for the three and six months ended June 30, 2021, respectively (three and six months ended June 30, 2020 - $5 million and $12 million, respectively) are inter-company transactions between non-regulated and regulated entities, which were not eliminated on consolidation. As at June 30, 2021, accounts receivable included approximately $30 million due from Belize Electricity (December 31, 2020 - $28 million). Fortis periodically provides short-term financing, the impacts of which are eliminated on consolidation, to subsidiaries to support capital expenditures, acquisitions and seasonal working capital requirements. There were inter-segment loans of $135 million outstanding as at June 30, 2021 (December 31, 2020 - nil). Interest charged on inter-segment loans was not material for the three and six months ended June 30, 2021 and 2020. Regulated Non-Regulated Energy Inter- Quarter ended June 30, 2021 UNS Central FortisBC Fortis FortisBC Other Sub Infra- Corporate segment ($ millions) ITC Energy Hudson Energy Alberta Electric Electric Total structure and Other eliminations Total Revenue 418 556 207 317 162 108 353 2,121 9 — — 2,130 Energy supply costs — 204 59 108 — 22 199 592 1 — — 593 Operating expenses 115 153 116 88 39 33 48 592 9 10 — 611 Depreciation and amortization 70 83 22 70 58 16 45 364 4 1 — 369 Operating income 233 116 10 51 65 37 61 573 (5) (11) — 557 Other income, net 12 11 8 3 — 2 1 37 1 4 — 42 Finance charges 78 31 11 37 27 18 18 220 — 35 — 255 Income tax expense 41 13 1 2 2 4 6 69 1 (22) — 48 Net earnings 126 83 6 15 36 17 38 321 (5) (20) — 296 Non-controlling interests 23 — — — — — 4 27 — — — 27 Preference share dividends — — — — — — — — — 16 — 16 Net earnings attributable to common equity shareholders 103 83 6 15 36 17 34 294 (5) (36) — 253 Goodwill 7,609 1,713 559 913 228 235 242 11,499 27 — — 11,526 Total assets 20,307 11,218 3,899 7,722 5,157 2,474 4,216 54,993 723 358 (179) 55,895 Capital expenditures 244 185 72 99 82 30 75 787 3 — — 790 Quarter ended June 30, 2020 ($ millions) Revenue 477 546 206 249 150 91 345 2,064 13 — — 2,077 Energy supply costs — 184 51 66 — 15 198 514 — — — 514 Operating expenses 113 157 125 76 34 26 49 580 7 12 — 599 Depreciation and amortization 75 85 24 59 56 15 47 361 4 1 — 366 Operating income 289 120 6 48 60 35 51 609 2 (13) — 598 Other income, net 13 16 8 2 — 1 2 42 — 5 — 47 Finance charges 79 34 12 35 25 18 21 224 — 39 — 263 Income tax expense 55 17 — (2) 2 1 6 79 (1) (20) — 58 Net earnings 168 85 2 17 33 17 26 348 3 (27) — 324 Non-controlling interests 30 — — 1 — — 2 33 — — — 33 Preference share dividends — — — — — — — — — 17 — 17 Net earnings attributable to common equity shareholders 138 85 2 16 33 17 24 315 3 (44) — 274 Goodwill 8,332 1,876 612 913 228 235 259 12,455 27 — — 12,482 Total assets 21,251 11,252 3,967 7,291 4,918 2,377 4,272 55,328 740 226 (89) 56,205 Capital expenditures 232 176 91 95 83 30 65 772 3 — — 775 4. SEGMENTED INFORMATION (cont'd) Regulated Non-Regulated Energy Inter- Year-to-date June 30, 2021 UNS Central FortisBC Fortis FortisBC Other Sub Infra- Corporate segment ($ millions) ITC Energy Hudson Energy Alberta Electric Electric Total structure and Other eliminations Total Revenue 844 1,078 492 903 320 228 766 4,631 38 — — 4,669 Energy supply costs — 404 140 362 — 61 473 1,440 2 — — 1,442 Operating expenses 232 330 247 172 78 63 97 1,219 18 24 — 1,261 Depreciation and amortization 142 166 45 141 115 32 90 731 8 2 — 741 Operating income 470 178 60 228 127 72 106 1,241 10 (26) — 1,225 Other income, net 21 27 17 5 1 3 1 75 1 16 — 92 Finance charges 157 59 23 73 53 36 36 437 — 70 — 507 Income tax expense 82 18 9 34 4 6 11 164 2 (48) — 118 Net earnings 252 128 45 126 71 33 60 715 9 (32) — 692 Non-controlling interests 46 — — — — — 6 52 — — — 52 Preference share dividends — — — — — — — — — 32 — 32 Net earnings attributable to common equity shareholders 206 128 45 126 71 33 54 663 9 (64) — 608 Goodwill 7,609 1,713 559 913 228 235 242 11,499 27 — — 11,526 Total assets 20,307 11,218 3,899 7,722 5,157 2,474 4,216 54,993 723 358 (179) 55,895 Capital expenditures 546 337 133 192 186 58 138 1,590 4 — — 1,594 Year-to-date June 30, 2020 ($ millions) Revenue 910 1,019 486 715 302 205 793 4,430 38 — — 4,468 Energy supply costs — 351 129 226 — 54 503 1,263 1 — — 1,264 Operating expenses 231 315 259 158 72 53 100 1,188 15 22 — 1,225 Depreciation and amortization 148 166 46 119 111 30 93 713 8 2 — 723 Operating income 531 187 52 212 119 68 97 1,266 14 (24) — 1,256 Other income, net 17 13 17 3 1 2 5 58 — (2) — 56 Finance charges 159 62 24 71 51 36 40 443 — 76 — 519 Income tax expense 98 25 8 21 4 2 10 168 2 (54) — 116 Net earnings 291 113 37 123 65 32 52 713 12 (48) — 677 Non-controlling interests 52 — — 1 — — 5 58 — — — 58 Preference share dividends — — — — — — — — — 33 — 33 Net earnings attributable to common equity shareholders 239 113 37 122 65 32 47 655 12 (81) — 586 Goodwill 8,332 1,876 612 913 228 235 259 12,455 27 — — 12,482 Total assets 21,251 11,252 3,967 7,291 4,918 2,377 4,272 55,328 740 226 (89) 56,205 Capital expenditures 481 685 164 216 204 58 122 1,930 7 — — 1,937

Allowance for Credit Losses

Allowance for Credit Losses	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Allowance for Credit Losses	ALLOWANCE FOR CREDIT LOSSES The allowance for credit losses balance, which is netted against accounts receivable and other current assets, changed as follows. Periods ended June 30 Quarter Year-to-Date ($ millions) 2021 2020 2021 2020 Beginning of period (64) (44) (64) (35) Credit loss expense (1) (5) (8) (14) Credit loss deferral — (8) — (8) Write-offs, net of recoveries 3 3 8 6 Foreign exchange — 1 2 (2) End of period (62) (53) (62) (53) See Note 13 for disclosure on the Corporation's credit risk.

Regulatory Assets and Liabiliti

Regulatory Assets and Liabilities	6 Months Ended
	Jun. 30, 2021
Regulated Operations [Abstract]
Regulatory Assets and Liabilities	REGULATORY ASSETS AND LIABILITIES Detailed information about the Corporation's regulatory assets and liabilities is provided in Note 8 to the 2020 Annual Financial Statements. A summary follows. As at June 30, December 31, ($ millions ) 2021 2020 Regulatory assets Deferred income taxes 1,732 1,697 Employee future benefits 553 588 Deferred energy management costs 349 334 Rate stabilization and related accounts 277 213 Deferred lease costs 124 122 Manufactured gas plant site remediation deferral 100 107 Derivatives 75 73 AESO charges deferral 52 35 Generation early retirement costs 50 55 Other regulatory assets 386 364 Total regulatory assets 3,698 3,588 Less: Current portion (570) (470) Long-term regulatory assets 3,128 3,118 Regulatory liabilities Deferred income taxes 1,309 1,361 Asset removal cost provision 1,189 1,206 Renewable energy surcharge 97 100 Rate stabilization and related accounts 94 104 Energy efficiency liability 77 83 Derivatives 55 17 Employee future benefits 16 43 Other regulatory liabilities 236 189 Total regulatory liabilities 3,073 3,103 Less: Current portion (430) (441) Long-term regulatory liabilities 2,643 2,662

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Long-Term Debt	LONG-TERM DEBT As at June 30, December 31, ($ millions) 2021 2020 Long-term debt 24,156 23,534 Credit facility borrowings 659 980 Total long-term debt 24,815 24,514 Less: Deferred financing costs and debt discounts (150) (147) Less: Current installments of long-term debt (723) (1,254) 23,942 23,113 Long-Term Debt Issuances Interest Year-to-Date June 30, 2021 Month Rate Use of ($ millions, except as noted) Issued (%) Maturity Amount Proceeds UNS Energy Unsecured senior notes May 3.25 2051 US 325 (1) (2) Central Hudson Unsecured senior notes March 3.29 2051 US 75 (1) (2) FortisBC Energy Unsecured debentures April 2.42 2031 150 (3) Fortis Unsecured senior notes May 2.18 2028 500 (1) (2) (3) (1) Repay maturing long-term debt (2) General corporate purposes (3) Repay credit facility borrowings In July 2021, ITC priced 30-year US$75 million series A secured senior notes at 2.90% with an expected issuance date in August 2021, with a delayed issuance of another US$75 million series B secured senior notes at 3.05% expected to be issued in May 2022. The net proceeds are expected to fund or refinance a portfolio of eligible green projects, repay credit facility borrowings, fund capital expenditures and be used for other general corporate purposes. As at Credit facilities Regulated Corporate June 30, December 31, ($ millions) Utilities and Other 2021 2020 Total credit facilities 3,556 1,380 4,936 5,581 Credit facilities utilized: Short-term borrowings (1) (269) — (269) (132) Long-term debt (including current portion) (2) (591) (68) (659) (980) Letters of credit outstanding (69) (47) (116) (130) Credit facilities unutilized 2,627 1,265 3,892 4,339 (1) The weighted average interest rate was 0.3% (December 31, 2020 - 0.8%). (2) The weighted average interest rate was 1.1% (December 31, 2020 - 0.9%). The current portion was $162 million (December 31, 2020 - $651 million). Credit facilities are syndicated primarily with large banks in Canada and the United States, with no one bank holding more than 20% of the total facilities. Approximately $4.7 billion of the total credit facilities are committed facilities with maturities ranging from 2022 through 2026. See Note 14 in the 2020 Annual Financial Statements for a description of the credit facilities as at December 31, 2020.

Preference Shares

Preference Shares	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Preference Shares	PREFERENCE SHARES On June 1, 2020, 267,341 First Preference Shares, Series H were converted on a one-for-one basis into First Preference Shares, Series I and 907,577 First Preference Shares, Series I were converted on a one-for-one basis into First Preference Shares, Series H. Also on June 1, 2020, the annual fixed dividend per share for the First Preference Shares, Series H was reset from $0.6250 to $0.45875 for the five-year period up to but excluding June 1, 2025.

Employee Future Benefits

Employee Future Benefits	6 Months Ended
	Jun. 30, 2021
Retirement Benefits [Abstract]
Employee Future Benefits	EMPLOYEE FUTURE BENEFITS Fortis and each subsidiary maintain one or a combination of defined benefit pension plans and defined contribution pension plans, as well as other post-employment benefit ("OPEB") plans, including health and dental coverage and life insurance benefits, for qualifying members. The net benefit cost is detailed below. Defined Benefit Pension Plans OPEB Plans ($ millions) 2021 2020 2021 2020 Quarter ended June 30 Service costs 27 25 9 8 Interest costs 24 29 4 5 Expected return on plan assets (43) (44) (4) (5) Amortization of actuarial losses (gains) 9 9 — (2) Amortization of past service credits/plan amendments (1) (1) — — Regulatory adjustments (1) (1) — 1 Net benefit cost 15 17 9 7 Year-to-date June 30 Service costs 55 50 18 16 Interest costs 49 57 9 11 Expected return on plan assets (88) (88) (9) (10) Amortization of actuarial losses (gains) 18 17 (1) (3) Amortization of past service credits/plan amendments (1) (1) — (1) Regulatory adjustments (1) (2) 1 2 Net benefit cost 32 33 18 15 Defined contribution pension plan expense for the three and six months ended June 30, 2021 was $10 million and $23 million (three and six months ended June 30, 2020 - $9 million and $22 million, respectively).

Other Income, Net

Other Income, Net	6 Months Ended
	Jun. 30, 2021
Other Income and Expenses [Abstract]
Other Income, Net	OTHER INCOME, NET Periods ended June 30 Quarter Year-to-Date ($ millions) 2021 2020 2021 2020 Equity component, allowance for funds used during construction 17 21 39 35 Non-service benefit cost 12 9 23 18 Derivative gains 4 7 13 — Interest income 2 3 4 8 Other 7 7 13 (5) 42 47 92 56

Earnings Per Common Share

Earnings Per Common Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Common Share	EARNINGS PER COMMON SHARE Diluted earnings per share ("EPS") was calculated using the treasury stock method for stock options. 2021 2020 Net Earnings Weighted Net Earnings Weighted to Common Average to Common Average Shareholders Shares EPS Shareholders Shares EPS ($ millions) (# millions) ($) ($ millions) (# millions) ($) Quarter ended June 30 Basic EPS 253 470.2 0.54 274 464.6 0.59 Potential dilutive effect of stock options — 0.4 — 0.6 Diluted EPS 253 470.6 0.54 274 465.2 0.59 Year-to-date June 30 Basic EPS 608 469.0 1.30 586 464.2 1.26 Potential dilutive effect of stock options — 0.4 — 0.6 Diluted EPS 608 469.4 1.30 586 464.8 1.26

Supplementary Cash Flow Informa

Supplementary Cash Flow Information	6 Months Ended
	Jun. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Supplementary Cash Flow Information	SUPPLEMENTARY CASH FLOW INFORMATION Periods ended June 30 Quarter Year-to-Date ($ millions) 2021 2020 2021 2020 Change in working capital Accounts receivable and other current assets 91 69 42 107 Prepaid expenses 26 29 23 25 Inventories (25) (45) — (1) Regulatory assets - current portion — 14 (69) 28 Accounts payable and other current liabilities (41) 14 (11) (194) Regulatory liabilities - current portion (11) (108) (32) (146) 40 (27) (47) (181) Non-cash investing and financing activities Accrued capital expenditures 327 367 327 367 Common share dividends reinvested 87 10 176 18 Contributions in aid of construction 13 8 13 8

Fair Value of Financial Instrum

Fair Value of Financial Instruments and Risk Management	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments and Risk Management	FAIR VALUE OF FINANCIAL INSTRUMENTS AND RISK MANAGEMENT Derivatives The Corporation generally limits the use of derivatives to those that qualify as accounting, economic or cash flow hedges, or those that are approved for regulatory recovery. The Corporation records all derivatives at fair value, with certain exceptions including those derivatives that qualify for the normal purchase and normal sale exception. Fair values reflect estimates based on current market information about the derivatives as at the balance sheet dates. The estimates cannot be determined with precision as they involve uncertainties and matters of judgment and, therefore, may not be relevant in predicting the Corporation's future consolidated earnings or cash flow. 13. FAIR VALUE OF FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (cont'd) Cash flow associated with the settlement of all derivatives is included in operating activities on the condensed consolidated interim statements of cash flows. Energy Contracts Subject to Regulatory Deferral UNS Energy holds electricity power purchase contracts, customer supply contracts and gas swap contracts to reduce its exposure to energy price risk. Fair values are measured primarily under the market approach using independent third-party information, where possible. When published prices are not available, adjustments are applied based on historical price curve relationships, transmission costs and line losses. Central Hudson holds swap contracts for electricity and natural gas to minimize price volatility by fixing the effective purchase price. Fair values are measured using forward pricing provided by independent third-party information. FortisBC Energy holds gas supply contracts to fix the effective purchase price of natural gas. Fair values reflect the present value of future cash flows based on published market prices and forward natural gas curves. Unrealized gains or losses associated with changes in the fair value of these energy contracts are deferred as a regulatory asset or liability for recovery from, or refund to, customers in future rates, as permitted by the regulators. As at June 30, 2021, unrealized losses of $75 million (December 31, 2020 - $73 million) were recognized as regulatory assets and unrealized gains of $55 million (December 31, 2020 - $17 million) were recognized as regulatory liabilities. E nergy Contracts Not Subject to Regulatory Deferral UNS Energy holds wholesale trading contracts to fix power prices and realize potential margin, of which 10% of any realized gains is shared with customers through rate stabilization accounts. Fair values are measured using a market approach incorporating, where possible, independent third-party information. Aitken Creek holds gas swap contracts to manage its exposure to changes in natural gas prices, capture natural gas price spreads, and manage the financial risk posed by physical transactions. Fair values are measured using forward pricing from published market sources. Unrealized gains or losses associated with changes in the fair value of these energy contracts are recognized in revenue. For the three and six months ended June 30, 2021, unrealized losses of $8 million and $13 million, respectively, were recognized in revenue (three and six months ended June 30, 2020 - unrealized gains of $7 million and $4 million, respectively). Total Return Swaps The Corporation holds total return swaps to manage the cash flow risk associated with forecast future cash settlements of certain stock-based compensation obligations. The swaps have a combined notional amount of $112 million and terms of one Foreign Exchange Contracts The Corporation holds US dollar denominated foreign exchange contracts to help mitigate exposure to foreign exchange rate volatility. The contracts expire at varying dates through February 2022 and have a combined notional amount of $170 million. Fair value was measured using independent third-party information. During the three and six months ended June 30, 2021, unrealized losses of $4 million and $2 million, respectively were recognized in other income, net (three and six months ended June 30, 2020 - unrealized gains of $11 million and $2 million, respectively). 13. FAIR VALUE OF FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (cont'd) Other Investments ITC, UNS Energy and Central Hudson hold investments in trust associated with supplemental retirement benefit plans for select employees. These investments include mutual funds and money market accounts, which are recorded at fair value based on quoted market prices in active markets. During the three and six months ended June 30, 2021, unrealized gains of $4 million and $6 million, respectively were recognized in other income, net (three and six months ended June 30, 2020 - unrealized gains of $9 million and unrealized losses of $2 million, respectively). Recurring Fair Value Measures The following table presents assets and liabilities that are accounted for at fair value on a recurring basis. ($ millions) Level 1 (1) Level 2 (1) Level 3 (1) Total As at June 30, 2021 Assets Cash equivalents (2) 310 — — 310 Energy contracts subject to regulatory deferral (3) (4) — 80 — 80 Energy contracts not subject to regulatory deferral (3) — 3 — 3 Foreign exchange contracts and total return swaps (3) 17 — — 17 Other investments (5) 132 — — 132 459 83 — 542 Liabilities Energy contracts subject to regulatory deferral (4) (6) — (100) — (100) Energy contracts not subject to regulatory deferral (6) — (24) — (24) — (124) — (124) As at December 31, 2020 Assets Energy contracts subject to regulatory deferral (3) (4) — 38 — 38 Energy contracts not subject to regulatory deferral (3) — 6 — 6 Foreign exchange contracts and total return swaps (3) 16 — — 16 Other investments (5) 126 — — 126 142 44 — 186 Liabilities Energy contracts subject to regulatory deferral (4) (6) — (94) — (94) Energy contracts not subject to regulatory deferral (6) — (12) — (12) — (106) — (106) (1) Under the hierarchy, fair value is determined using: (i) level 1 - unadjusted quoted prices in active markets; (ii) level 2 - other pricing inputs directly or indirectly observable in the marketplace; and (iii) level 3 - unobservable inputs, used when observable inputs are not available. Classifications reflect the lowest level of input that is significant to the fair value measurement. (2) Represents amounts held in money market funds, which approximates fair market value and is included in cash and cash equivalents. (3) Included in accounts receivable and other current assets or other assets (4) Unrealized gains and losses arising from changes in fair value of these contracts are deferred as a regulatory asset or liability for recovery from, or refund to, customers in future rates as permitted by the regulators, with the exception of long-term wholesale trading contracts and certain gas swap contracts. (5) Included in other assets (6) Included in accounts payable and other current liabilities or other liabilities 13. FAIR VALUE OF FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (cont'd) Energy Contracts The Corporation has elected gross presentation for its derivative contracts under master netting agreements and collateral positions, which apply only to its energy contracts. The following table presents the potential offset of counterparty netting. Gross Amount Counterparty Cash Recognized Netting of Collateral on Balance Energy Received/ ($ millions) Sheet Contracts Posted Net Amount As at June 30, 2021 Derivative assets 83 39 6 38 Derivative liabilities (124) (39) (30) (55) As at December 31, 2020 Derivative assets 44 26 10 8 Derivative liabilities (106) (26) (9) (71) Volume of Derivative Activity As at June 30, 2021, the Corporation had various energy contracts that will settle on various dates through 2029. The volumes related to electricity and natural gas derivatives are outlined below. As at June 30, December 31, 2021 2020 Energy contracts subject to regulatory deferral (1) Electricity swap contracts (GWh) 246 522 Electricity power purchase contracts (GWh) 1,673 2,781 Gas swap contracts (PJ) 171 156 Gas supply contract premiums (PJ) 167 203 Energy contracts not subject to regulatory deferral (1) Wholesale trading contracts (GWh) 883 1,588 Gas swap contracts (PJ) 16 36 (1) GWh means gigawatt hours and PJ means petajoules. Credit Risk For cash equivalents, accounts receivable and other current assets, and long-term other receivables, credit risk is generally limited to the carrying value on the consolidated balance sheets. The Corporation's subsidiaries generally have a large and diversified customer base, which minimizes the concentration of credit risk. Policies in place to minimize credit risk include requiring customer deposits, prepayments and/or credit checks for certain customers, performing disconnections and/or using third-party collection agencies for overdue accounts. As a result of the impact of the COVID-19 pandemic, certain of the Corporation's utilities temporarily suspended non-payment disconnects. While the Corporation has seen an increase in accounts receivable and, accordingly, its allowance for credit losses since the start of the pandemic in March 2020, there has been no material change in credit loss expense for the three and six months ended June 30, 2021 (Note 5). ITC has a concentration of credit risk as approximately 70% of its revenue is derived from three customers. The customers have investment-grade credit ratings and credit risk is further managed by MISO by requiring a letter of credit or cash deposit equal to the credit exposure, which is determined by a credit-scoring model and other factors. 13. FAIR VALUE OF FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (cont'd) FortisAlberta has a concentration of credit risk as distribution service billings are to a relatively small group of retailers. Credit risk is managed by obtaining from the retailers either a cash deposit, letter of credit, an investment-grade credit rating, or a financial guarantee from an entity with an investment-grade credit rating. UNS Energy, Central Hudson, FortisBC Energy, Aitken Creek and the Corporation may be exposed to credit risk in the event of non-performance by counterparties to derivatives. Credit risk is managed by net settling payments, when possible, and dealing only with counterparties that have investment-grade credit ratings. At UNS Energy and Central Hudson, certain contractual arrangements require counterparties to post collateral. The value of derivatives in net liability positions under contracts with credit risk-related contingent features that, if triggered, could require the posting of a like amount of collateral was $94 million as at June 30, 2021 (December 31, 2020 - $88 million). Hedge of Foreign Net Investments The reporting currency of ITC, UNS Energy, Central Hudson, Caribbean Utilities, FortisTCI, Belize Electric Company Limited and Belize Electricity is, or is pegged to, the US dollar. The earnings and cash flow from, and net investments in, these entities are exposed to fluctuations in the US dollar-to-Canadian dollar exchange rate. The Corporation has limited this exposure through hedging. As at June 30, 2021, US$2.1 billion (December 31, 2020 - US$2.3 billion) of corporately issued US dollar-denominated long-term debt has been designated as an effective hedge of net investments, leaving approximately US$10.6 billion (December 31, 2020 - US$10.2 billion) unhedged. Exchange rate fluctuations associated with the hedged net investment in foreign subsidiaries and the debt serving as the hedge are recognized in accumulated other comprehensive income. Financial Instruments Not Carried at Fair Value Excluding long-term debt, the consolidated carrying value of the Corporation's remaining financial instruments approximates fair value, reflecting their short-term maturity, normal trade credit terms and/or nature. As at June 30, 2021, the carrying value of long-term debt, including current portion, was $24.8 billion (December 31, 2020 - $24.5 billion) compared to an estimated fair value of $28.1 billion (December 31, 2020 - $29.1 billion).

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Commitments There were no material changes in commitments from that disclosed in the Corporation's 2020 Annual Financial Statements. Contingencies In April 2013, FortisBC Holdings Inc. and Fortis were named as defendants in an action in the British Columbia Supreme Court by the Coldwater Indian Band ("Band") regarding interests in a pipeline right-of-way on reserve lands. The pipeline was transferred by FHI (then Terasen Inc.) to Kinder Morgan Inc. in April 2007. The Band seeks cancellation of the right-of-way and damages for wrongful interference with the Band's use and enjoyment of reserve lands. In May 2016, the Federal Court dismissed the Band's application for judicial review of the ministerial consent. In September 2017, the Federal Court of Appeal set aside the minister's consent and returned the matter to the minister for redetermination. No amount has been accrued in the Interim Financial Statements as the outcome cannot yet be reasonably determined.

Accounting Policies (Policies)

Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Accounting	These condensed consolidated interim financial statements ("Interim Financial Statements") have been prepared and presented in accordance with accounting principles generally accepted in the United States of America for rate-regulated entities and are in Canadian dollars unless otherwise indicated.
Consolidation	The Interim Financial Statements include the accounts of the Corporation and its subsidiaries and reflect the equity method of accounting for entities in which Fortis has significant influence, but not control, and proportionate consolidation for assets that are jointly owned with non-affiliated entities. Intercompany transactions have been eliminated, except for transactions between non-regulated and regulated entities in accordance with US GAAP for rate-regulated entities.
Use of Accounting Estimates	The preparation of the Interim Financial Statements requires management to make estimates and judgments, including those related to regulatory decisions, that affect the reported amounts of, and disclosures related to, assets, liabilities, revenues, expenses and contingencies. Actual results could differ materially from estimates.
Future Accounting Pronouncements	Future Accounting Pronouncements The Corporation considers the applicability and impact of all Accounting Standards Updates ("ASUs") issued by the Financial Accounting Standards Board. Any ASUs not included in these Interim Financial Statements were assessed and determined to be either not applicable to the Corporation or are not expected to have a material impact on the Interim Financial Statements.

Segmented Information (Tables)

Segmented Information (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Schedule of Information by Reportable Segment	Regulated Non-Regulated Energy Inter- Quarter ended June 30, 2021 UNS Central FortisBC Fortis FortisBC Other Sub Infra- Corporate segment ($ millions) ITC Energy Hudson Energy Alberta Electric Electric Total structure and Other eliminations Total Revenue 418 556 207 317 162 108 353 2,121 9 — — 2,130 Energy supply costs — 204 59 108 — 22 199 592 1 — — 593 Operating expenses 115 153 116 88 39 33 48 592 9 10 — 611 Depreciation and amortization 70 83 22 70 58 16 45 364 4 1 — 369 Operating income 233 116 10 51 65 37 61 573 (5) (11) — 557 Other income, net 12 11 8 3 — 2 1 37 1 4 — 42 Finance charges 78 31 11 37 27 18 18 220 — 35 — 255 Income tax expense 41 13 1 2 2 4 6 69 1 (22) — 48 Net earnings 126 83 6 15 36 17 38 321 (5) (20) — 296 Non-controlling interests 23 — — — — — 4 27 — — — 27 Preference share dividends — — — — — — — — — 16 — 16 Net earnings attributable to common equity shareholders 103 83 6 15 36 17 34 294 (5) (36) — 253 Goodwill 7,609 1,713 559 913 228 235 242 11,499 27 — — 11,526 Total assets 20,307 11,218 3,899 7,722 5,157 2,474 4,216 54,993 723 358 (179) 55,895 Capital expenditures 244 185 72 99 82 30 75 787 3 — — 790 Quarter ended June 30, 2020 ($ millions) Revenue 477 546 206 249 150 91 345 2,064 13 — — 2,077 Energy supply costs — 184 51 66 — 15 198 514 — — — 514 Operating expenses 113 157 125 76 34 26 49 580 7 12 — 599 Depreciation and amortization 75 85 24 59 56 15 47 361 4 1 — 366 Operating income 289 120 6 48 60 35 51 609 2 (13) — 598 Other income, net 13 16 8 2 — 1 2 42 — 5 — 47 Finance charges 79 34 12 35 25 18 21 224 — 39 — 263 Income tax expense 55 17 — (2) 2 1 6 79 (1) (20) — 58 Net earnings 168 85 2 17 33 17 26 348 3 (27) — 324 Non-controlling interests 30 — — 1 — — 2 33 — — — 33 Preference share dividends — — — — — — — — — 17 — 17 Net earnings attributable to common equity shareholders 138 85 2 16 33 17 24 315 3 (44) — 274 Goodwill 8,332 1,876 612 913 228 235 259 12,455 27 — — 12,482 Total assets 21,251 11,252 3,967 7,291 4,918 2,377 4,272 55,328 740 226 (89) 56,205 Capital expenditures 232 176 91 95 83 30 65 772 3 — — 775 4. SEGMENTED INFORMATION (cont'd) Regulated Non-Regulated Energy Inter- Year-to-date June 30, 2021 UNS Central FortisBC Fortis FortisBC Other Sub Infra- Corporate segment ($ millions) ITC Energy Hudson Energy Alberta Electric Electric Total structure and Other eliminations Total Revenue 844 1,078 492 903 320 228 766 4,631 38 — — 4,669 Energy supply costs — 404 140 362 — 61 473 1,440 2 — — 1,442 Operating expenses 232 330 247 172 78 63 97 1,219 18 24 — 1,261 Depreciation and amortization 142 166 45 141 115 32 90 731 8 2 — 741 Operating income 470 178 60 228 127 72 106 1,241 10 (26) — 1,225 Other income, net 21 27 17 5 1 3 1 75 1 16 — 92 Finance charges 157 59 23 73 53 36 36 437 — 70 — 507 Income tax expense 82 18 9 34 4 6 11 164 2 (48) — 118 Net earnings 252 128 45 126 71 33 60 715 9 (32) — 692 Non-controlling interests 46 — — — — — 6 52 — — — 52 Preference share dividends — — — — — — — — — 32 — 32 Net earnings attributable to common equity shareholders 206 128 45 126 71 33 54 663 9 (64) — 608 Goodwill 7,609 1,713 559 913 228 235 242 11,499 27 — — 11,526 Total assets 20,307 11,218 3,899 7,722 5,157 2,474 4,216 54,993 723 358 (179) 55,895 Capital expenditures 546 337 133 192 186 58 138 1,590 4 — — 1,594 Year-to-date June 30, 2020 ($ millions) Revenue 910 1,019 486 715 302 205 793 4,430 38 — — 4,468 Energy supply costs — 351 129 226 — 54 503 1,263 1 — — 1,264 Operating expenses 231 315 259 158 72 53 100 1,188 15 22 — 1,225 Depreciation and amortization 148 166 46 119 111 30 93 713 8 2 — 723 Operating income 531 187 52 212 119 68 97 1,266 14 (24) — 1,256 Other income, net 17 13 17 3 1 2 5 58 — (2) — 56 Finance charges 159 62 24 71 51 36 40 443 — 76 — 519 Income tax expense 98 25 8 21 4 2 10 168 2 (54) — 116 Net earnings 291 113 37 123 65 32 52 713 12 (48) — 677 Non-controlling interests 52 — — 1 — — 5 58 — — — 58 Preference share dividends — — — — — — — — — 33 — 33 Net earnings attributable to common equity shareholders 239 113 37 122 65 32 47 655 12 (81) — 586 Goodwill 8,332 1,876 612 913 228 235 259 12,455 27 — — 12,482 Total assets 21,251 11,252 3,967 7,291 4,918 2,377 4,272 55,328 740 226 (89) 56,205 Capital expenditures 481 685 164 216 204 58 122 1,930 7 — — 1,937

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Schedule of Allowance for Credit Losses	The allowance for credit losses balance, which is netted against accounts receivable and other current assets, changed as follows. Periods ended June 30 Quarter Year-to-Date ($ millions) 2021 2020 2021 2020 Beginning of period (64) (44) (64) (35) Credit loss expense (1) (5) (8) (14) Credit loss deferral — (8) — (8) Write-offs, net of recoveries 3 3 8 6 Foreign exchange — 1 2 (2) End of period (62) (53) (62) (53)

Regulatory Assets and Liabili_2

Regulatory Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2021
Regulated Operations [Abstract]
Schedule of Regulatory Assets	Detailed information about the Corporation's regulatory assets and liabilities is provided in Note 8 to the 2020 Annual Financial Statements. A summary follows. As at June 30, December 31, ($ millions ) 2021 2020 Regulatory assets Deferred income taxes 1,732 1,697 Employee future benefits 553 588 Deferred energy management costs 349 334 Rate stabilization and related accounts 277 213 Deferred lease costs 124 122 Manufactured gas plant site remediation deferral 100 107 Derivatives 75 73 AESO charges deferral 52 35 Generation early retirement costs 50 55 Other regulatory assets 386 364 Total regulatory assets 3,698 3,588 Less: Current portion (570) (470) Long-term regulatory assets 3,128 3,118 Regulatory liabilities Deferred income taxes 1,309 1,361 Asset removal cost provision 1,189 1,206 Renewable energy surcharge 97 100 Rate stabilization and related accounts 94 104 Energy efficiency liability 77 83 Derivatives 55 17 Employee future benefits 16 43 Other regulatory liabilities 236 189 Total regulatory liabilities 3,073 3,103 Less: Current portion (430) (441) Long-term regulatory liabilities 2,643 2,662
Schedule of Regulatory Liabilities	Detailed information about the Corporation's regulatory assets and liabilities is provided in Note 8 to the 2020 Annual Financial Statements. A summary follows. As at June 30, December 31, ($ millions ) 2021 2020 Regulatory assets Deferred income taxes 1,732 1,697 Employee future benefits 553 588 Deferred energy management costs 349 334 Rate stabilization and related accounts 277 213 Deferred lease costs 124 122 Manufactured gas plant site remediation deferral 100 107 Derivatives 75 73 AESO charges deferral 52 35 Generation early retirement costs 50 55 Other regulatory assets 386 364 Total regulatory assets 3,698 3,588 Less: Current portion (570) (470) Long-term regulatory assets 3,128 3,118 Regulatory liabilities Deferred income taxes 1,309 1,361 Asset removal cost provision 1,189 1,206 Renewable energy surcharge 97 100 Rate stabilization and related accounts 94 104 Energy efficiency liability 77 83 Derivatives 55 17 Employee future benefits 16 43 Other regulatory liabilities 236 189 Total regulatory liabilities 3,073 3,103 Less: Current portion (430) (441) Long-term regulatory liabilities 2,643 2,662

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	June 30, December 31, ($ millions) 2021 2020 Long-term debt 24,156 23,534 Credit facility borrowings 659 980 Total long-term debt 24,815 24,514 Less: Deferred financing costs and debt discounts (150) (147) Less: Current installments of long-term debt (723) (1,254) 23,942 23,113 Long-Term Debt Issuances Interest Year-to-Date June 30, 2021 Month Rate Use of ($ millions, except as noted) Issued (%) Maturity Amount Proceeds UNS Energy Unsecured senior notes May 3.25 2051 US 325 (1) (2) Central Hudson Unsecured senior notes March 3.29 2051 US 75 (1) (2) FortisBC Energy Unsecured debentures April 2.42 2031 150 (3) Fortis Unsecured senior notes May 2.18 2028 500 (1) (2) (3) (1) Repay maturing long-term debt (2) General corporate purposes (3) Repay credit facility borrowings
Schedule of Credit Facilities	As at Credit facilities Regulated Corporate June 30, December 31, ($ millions) Utilities and Other 2021 2020 Total credit facilities 3,556 1,380 4,936 5,581 Credit facilities utilized: Short-term borrowings (1) (269) — (269) (132) Long-term debt (including current portion) (2) (591) (68) (659) (980) Letters of credit outstanding (69) (47) (116) (130) Credit facilities unutilized 2,627 1,265 3,892 4,339 (1) The weighted average interest rate was 0.3% (December 31, 2020 - 0.8%).

Employee Future Benefits (Table

Employee Future Benefits (Tables)	6 Months Ended
	Jun. 30, 2021
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The net benefit cost is detailed below. Defined Benefit Pension Plans OPEB Plans ($ millions) 2021 2020 2021 2020 Quarter ended June 30 Service costs 27 25 9 8 Interest costs 24 29 4 5 Expected return on plan assets (43) (44) (4) (5) Amortization of actuarial losses (gains) 9 9 — (2) Amortization of past service credits/plan amendments (1) (1) — — Regulatory adjustments (1) (1) — 1 Net benefit cost 15 17 9 7 Year-to-date June 30 Service costs 55 50 18 16 Interest costs 49 57 9 11 Expected return on plan assets (88) (88) (9) (10) Amortization of actuarial losses (gains) 18 17 (1) (3) Amortization of past service credits/plan amendments (1) (1) — (1) Regulatory adjustments (1) (2) 1 2 Net benefit cost 32 33 18 15

Other Income, Net (Tables)

Other Income, Net (Tables)	6 Months Ended
	Jun. 30, 2021
Other Income and Expenses [Abstract]
Schedule of Other Income, Net	Periods ended June 30 Quarter Year-to-Date ($ millions) 2021 2020 2021 2020 Equity component, allowance for funds used during construction 17 21 39 35 Non-service benefit cost 12 9 23 18 Derivative gains 4 7 13 — Interest income 2 3 4 8 Other 7 7 13 (5) 42 47 92 56

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of Net Earnings to Common Shareholders	Diluted earnings per share ("EPS") was calculated using the treasury stock method for stock options. 2021 2020 Net Earnings Weighted Net Earnings Weighted to Common Average to Common Average Shareholders Shares EPS Shareholders Shares EPS ($ millions) (# millions) ($) ($ millions) (# millions) ($) Quarter ended June 30 Basic EPS 253 470.2 0.54 274 464.6 0.59 Potential dilutive effect of stock options — 0.4 — 0.6 Diluted EPS 253 470.6 0.54 274 465.2 0.59 Year-to-date June 30 Basic EPS 608 469.0 1.30 586 464.2 1.26 Potential dilutive effect of stock options — 0.4 — 0.6 Diluted EPS 608 469.4 1.30 586 464.8 1.26

Supplementary Cash Flow Infor_2

Supplementary Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplementary Cash Flow Information	Periods ended June 30 Quarter Year-to-Date ($ millions) 2021 2020 2021 2020 Change in working capital Accounts receivable and other current assets 91 69 42 107 Prepaid expenses 26 29 23 25 Inventories (25) (45) — (1) Regulatory assets - current portion — 14 (69) 28 Accounts payable and other current liabilities (41) 14 (11) (194) Regulatory liabilities - current portion (11) (108) (32) (146) 40 (27) (47) (181) Non-cash investing and financing activities Accrued capital expenditures 327 367 327 367 Common share dividends reinvested 87 10 176 18 Contributions in aid of construction 13 8 13 8

Fair Value of Financial Instr_2

Fair Value of Financial Instruments and Risk Management (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Hierarchy	The following table presents assets and liabilities that are accounted for at fair value on a recurring basis. ($ millions) Level 1 (1) Level 2 (1) Level 3 (1) Total As at June 30, 2021 Assets Cash equivalents (2) 310 — — 310 Energy contracts subject to regulatory deferral (3) (4) — 80 — 80 Energy contracts not subject to regulatory deferral (3) — 3 — 3 Foreign exchange contracts and total return swaps (3) 17 — — 17 Other investments (5) 132 — — 132 459 83 — 542 Liabilities Energy contracts subject to regulatory deferral (4) (6) — (100) — (100) Energy contracts not subject to regulatory deferral (6) — (24) — (24) — (124) — (124) As at December 31, 2020 Assets Energy contracts subject to regulatory deferral (3) (4) — 38 — 38 Energy contracts not subject to regulatory deferral (3) — 6 — 6 Foreign exchange contracts and total return swaps (3) 16 — — 16 Other investments (5) 126 — — 126 142 44 — 186 Liabilities Energy contracts subject to regulatory deferral (4) (6) — (94) — (94) Energy contracts not subject to regulatory deferral (6) — (12) — (12) — (106) — (106) (1) Under the hierarchy, fair value is determined using: (i) level 1 - unadjusted quoted prices in active markets; (ii) level 2 - other pricing inputs directly or indirectly observable in the marketplace; and (iii) level 3 - unobservable inputs, used when observable inputs are not available. Classifications reflect the lowest level of input that is significant to the fair value measurement. (2) Represents amounts held in money market funds, which approximates fair market value and is included in cash and cash equivalents. (3) Included in accounts receivable and other current assets or other assets (4) Unrealized gains and losses arising from changes in fair value of these contracts are deferred as a regulatory asset or liability for recovery from, or refund to, customers in future rates as permitted by the regulators, with the exception of long-term wholesale trading contracts and certain gas swap contracts. (5) Included in other assets (6) Included in accounts payable and other current liabilities or other liabilities
Derivative Asset Contracts Under Master Netting Agreements and Collateral Positions	The Corporation has elected gross presentation for its derivative contracts under master netting agreements and collateral positions, which apply only to its energy contracts. The following table presents the potential offset of counterparty netting. Gross Amount Counterparty Cash Recognized Netting of Collateral on Balance Energy Received/ ($ millions) Sheet Contracts Posted Net Amount As at June 30, 2021 Derivative assets 83 39 6 38 Derivative liabilities (124) (39) (30) (55) As at December 31, 2020 Derivative assets 44 26 10 8 Derivative liabilities (106) (26) (9) (71)
Derivative Liability Contracts Under Master Netting Agreements and Collateral Positions	The Corporation has elected gross presentation for its derivative contracts under master netting agreements and collateral positions, which apply only to its energy contracts. The following table presents the potential offset of counterparty netting. Gross Amount Counterparty Cash Recognized Netting of Collateral on Balance Energy Received/ ($ millions) Sheet Contracts Posted Net Amount As at June 30, 2021 Derivative assets 83 39 6 38 Derivative liabilities (124) (39) (30) (55) As at December 31, 2020 Derivative assets 44 26 10 8 Derivative liabilities (106) (26) (9) (71)
Schedule of Volume of Derivative Activity	As at June 30, 2021, the Corporation had various energy contracts that will settle on various dates through 2029. The volumes related to electricity and natural gas derivatives are outlined below. As at June 30, December 31, 2021 2020 Energy contracts subject to regulatory deferral (1) Electricity swap contracts (GWh) 246 522 Electricity power purchase contracts (GWh) 1,673 2,781 Gas swap contracts (PJ) 171 156 Gas supply contract premiums (PJ) 167 203 Energy contracts not subject to regulatory deferral (1) Wholesale trading contracts (GWh) 883 1,588 Gas swap contracts (PJ) 16 36 (1) GWh means gigawatt hours and PJ means petajoules.

Description of Business - Regul

Description of Business - Regulated Utilities (Details)	Jun. 30, 2021
Wataynikaneyap Power Limited Partnership
Public Utilities, General Disclosures [Line Items]
Equity investment ownership (percent)	39.00%
Belize Electricity
Public Utilities, General Disclosures [Line Items]
Equity investment ownership (percent)	33.00%
ITC
Public Utilities, General Disclosures [Line Items]
Controlling ownership interest (percent)	80.10%
Noncontrolling ownership (percent)	19.90%
Caribbean Utilities
Public Utilities, General Disclosures [Line Items]
Controlling ownership interest (percent)	60.00%

Regulatory Developments (Detail

Regulatory Developments (Details) - CAD ($) $ in Millions	1 Months Ended		22 Months Ended
	Apr. 30, 2021	Aug. 31, 2020	Dec. 31, 2022
ITC | FERC | April 2021 FERC Transmission Incentives
Public Utilities, General Disclosures [Line Items]
Proposed ROE incentive elimination (basis points)	0.50%
Central Hudson | PSC | August 2020 Generate Rate Application | Electric Revenue
Public Utilities, General Disclosures [Line Items]
Requested increase in revenue		$ 44
Central Hudson | PSC | August 2020 Generate Rate Application | Natural Gas Delivery Revenue
Public Utilities, General Disclosures [Line Items]
Requested increase in revenue		$ 19
FortisAlberta | AUC | March 2021 GCOC Proceeding | Forecast
Public Utilities, General Disclosures [Line Items]
ROE (percent)			8.50%
Equity component of capital structure (percent)			37.00%

Segmented Information - Related

Segmented Information - Related-party and Inter-company Transactions (Details) - CAD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Related Party Transaction [Line Items]
Related party transactions	$ 0	$ 0	$ 0	$ 0
Inter-segment loans	135,000,000		135,000,000		$ 0
Equity Method Investee | Belize Electricity
Related Party Transaction [Line Items]
Due from related party	30,000,000		30,000,000		$ 28,000,000
Aitken Creek
Related Party Transaction [Line Items]
Inter-company revenue recognized	$ 7,000,000	$ 5,000,000	$ 15,000,000	$ 12,000,000

Segmented Information - Informa

Segmented Information - Information by Reportable Segment (Details) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Revenue	$ 2,130	$ 2,077	$ 4,669	$ 4,468
Energy supply costs	593	514	1,442	1,264
Operating expenses	611	599	1,261	1,225
Depreciation and amortization	369	366	741	723
Operating income	557	598	1,225	1,256
Other income, net	42	47	92	56
Finance charges	255	263	507	519
Income tax expense	48	58	118	116
Net earnings	296	324	692	677
Non-controlling interests	27	33	52	58
Preference share dividends	16	17	32	33
Common equity shareholders	253	274	608	586
Goodwill	11,526	12,482	11,526	12,482	$ 11,792
Total assets	55,895	56,205	55,895	56,205	$ 55,481
Capital expenditures	790	775	1,594	1,937
Inter-segment eliminations
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Energy supply costs	0	0	0	0
Operating expenses	0	0	0	0
Depreciation and amortization	0	0	0	0
Operating income	0	0	0	0
Other income, net	0	0	0	0
Finance charges	0	0	0	0
Income tax expense	0	0	0	0
Net earnings	0	0	0	0
Non-controlling interests	0	0	0	0
Preference share dividends	0	0	0	0
Common equity shareholders	0	0	0	0
Goodwill	0	0	0	0
Total assets	(179)	(89)	(179)	(89)
Capital expenditures	0	0	0	0
Regulated | Operating segments
Segment Reporting Information [Line Items]
Revenue	2,121	2,064	4,631	4,430
Energy supply costs	592	514	1,440	1,263
Operating expenses	592	580	1,219	1,188
Depreciation and amortization	364	361	731	713
Operating income	573	609	1,241	1,266
Other income, net	37	42	75	58
Finance charges	220	224	437	443
Income tax expense	69	79	164	168
Net earnings	321	348	715	713
Non-controlling interests	27	33	52	58
Preference share dividends	0	0	0	0
Common equity shareholders	294	315	663	655
Goodwill	11,499	12,455	11,499	12,455
Total assets	54,993	55,328	54,993	55,328
Capital expenditures	787	772	1,590	1,930
Regulated | Operating segments | ITC
Segment Reporting Information [Line Items]
Revenue	418	477	844	910
Energy supply costs	0	0	0	0
Operating expenses	115	113	232	231
Depreciation and amortization	70	75	142	148
Operating income	233	289	470	531
Other income, net	12	13	21	17
Finance charges	78	79	157	159
Income tax expense	41	55	82	98
Net earnings	126	168	252	291
Non-controlling interests	23	30	46	52
Preference share dividends	0	0	0	0
Common equity shareholders	103	138	206	239
Goodwill	7,609	8,332	7,609	8,332
Total assets	20,307	21,251	20,307	21,251
Capital expenditures	244	232	546	481
Regulated | Operating segments | UNS Energy
Segment Reporting Information [Line Items]
Revenue	556	546	1,078	1,019
Energy supply costs	204	184	404	351
Operating expenses	153	157	330	315
Depreciation and amortization	83	85	166	166
Operating income	116	120	178	187
Other income, net	11	16	27	13
Finance charges	31	34	59	62
Income tax expense	13	17	18	25
Net earnings	83	85	128	113
Non-controlling interests	0	0	0	0
Preference share dividends	0	0	0	0
Common equity shareholders	83	85	128	113
Goodwill	1,713	1,876	1,713	1,876
Total assets	11,218	11,252	11,218	11,252
Capital expenditures	185	176	337	685
Regulated | Operating segments | Central Hudson
Segment Reporting Information [Line Items]
Revenue	207	206	492	486
Energy supply costs	59	51	140	129
Operating expenses	116	125	247	259
Depreciation and amortization	22	24	45	46
Operating income	10	6	60	52
Other income, net	8	8	17	17
Finance charges	11	12	23	24
Income tax expense	1	0	9	8
Net earnings	6	2	45	37
Non-controlling interests	0	0	0	0
Preference share dividends	0	0	0	0
Common equity shareholders	6	2	45	37
Goodwill	559	612	559	612
Total assets	3,899	3,967	3,899	3,967
Capital expenditures	72	91	133	164
Regulated | Operating segments | FortisBC Energy
Segment Reporting Information [Line Items]
Revenue	317	249	903	715
Energy supply costs	108	66	362	226
Operating expenses	88	76	172	158
Depreciation and amortization	70	59	141	119
Operating income	51	48	228	212
Other income, net	3	2	5	3
Finance charges	37	35	73	71
Income tax expense	2	(2)	34	21
Net earnings	15	17	126	123
Non-controlling interests	0	1	0	1
Preference share dividends	0	0	0	0
Common equity shareholders	15	16	126	122
Goodwill	913	913	913	913
Total assets	7,722	7,291	7,722	7,291
Capital expenditures	99	95	192	216
Regulated | Operating segments | FortisAlberta
Segment Reporting Information [Line Items]
Revenue	162	150	320	302
Energy supply costs	0	0	0	0
Operating expenses	39	34	78	72
Depreciation and amortization	58	56	115	111
Operating income	65	60	127	119
Other income, net	0	0	1	1
Finance charges	27	25	53	51
Income tax expense	2	2	4	4
Net earnings	36	33	71	65
Non-controlling interests	0	0	0	0
Preference share dividends	0	0	0	0
Common equity shareholders	36	33	71	65
Goodwill	228	228	228	228
Total assets	5,157	4,918	5,157	4,918
Capital expenditures	82	83	186	204
Regulated | Operating segments | FortisBC Electric
Segment Reporting Information [Line Items]
Revenue	108	91	228	205
Energy supply costs	22	15	61	54
Operating expenses	33	26	63	53
Depreciation and amortization	16	15	32	30
Operating income	37	35	72	68
Other income, net	2	1	3	2
Finance charges	18	18	36	36
Income tax expense	4	1	6	2
Net earnings	17	17	33	32
Non-controlling interests	0	0	0	0
Preference share dividends	0	0	0	0
Common equity shareholders	17	17	33	32
Goodwill	235	235	235	235
Total assets	2,474	2,377	2,474	2,377
Capital expenditures	30	30	58	58
Regulated | Operating segments | Other Electric
Segment Reporting Information [Line Items]
Revenue	353	345	766	793
Energy supply costs	199	198	473	503
Operating expenses	48	49	97	100
Depreciation and amortization	45	47	90	93
Operating income	61	51	106	97
Other income, net	1	2	1	5
Finance charges	18	21	36	40
Income tax expense	6	6	11	10
Net earnings	38	26	60	52
Non-controlling interests	4	2	6	5
Preference share dividends	0	0	0	0
Common equity shareholders	34	24	54	47
Goodwill	242	259	242	259
Total assets	4,216	4,272	4,216	4,272
Capital expenditures	75	65	138	122
Non-Regulated | Operating segments | Energy Infrastructure
Segment Reporting Information [Line Items]
Revenue	9	13	38	38
Energy supply costs	1	0	2	1
Operating expenses	9	7	18	15
Depreciation and amortization	4	4	8	8
Operating income	(5)	2	10	14
Other income, net	1	0	1	0
Finance charges	0	0	0	0
Income tax expense	1	(1)	2	2
Net earnings	(5)	3	9	12
Non-controlling interests	0	0	0	0
Preference share dividends	0	0	0	0
Common equity shareholders	(5)	3	9	12
Goodwill	27	27	27	27
Total assets	723	740	723	740
Capital expenditures	3	3	4	7
Non-Regulated | Operating segments | Corporate and Other
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Energy supply costs	0	0	0	0
Operating expenses	10	12	24	22
Depreciation and amortization	1	1	2	2
Operating income	(11)	(13)	(26)	(24)
Other income, net	4	5	16	(2)
Finance charges	35	39	70	76
Income tax expense	(22)	(20)	(48)	(54)
Net earnings	(20)	(27)	(32)	(48)
Non-controlling interests	0	0	0	0
Preference share dividends	16	17	32	33
Common equity shareholders	(36)	(44)	(64)	(81)
Goodwill	0	0	0	0
Total assets	358	226	358	226
Capital expenditures	$ 0	$ 0	$ 0	$ 0

Allowance for Credit Losses (De

Allowance for Credit Losses (Details) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Allowance for Credit Losses [Roll Forward]
Beginning of period	$ (64)	$ (44)	$ (64)	$ (35)
Credit loss expense	(1)	(5)	(8)	(14)
Credit loss deferral	0	(8)	0	(8)
Write-offs, net of recoveries	3	3	8	6
Foreign exchange	0	1	2	(2)
End of period	$ (62)	$ (53)	$ (62)	$ (53)

Regulatory Assets and Liabili_3

Regulatory Assets and Liabilities - Schedule of Regulatory Assets and Liabilities (Details) - CAD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Regulatory Assets [Line Items]
Total regulatory assets	$ 3,698	$ 3,588
Less: Current portion	(570)	(470)
Long-term regulatory assets	3,128	3,118
Regulatory Liabilities [Line Items]
Total regulatory liabilities	3,073	3,103
Less: Current portion	(430)	(441)
Long-term regulatory liabilities	2,643	2,662
Deferred income taxes
Regulatory Liabilities [Line Items]
Total regulatory liabilities	1,309	1,361
Asset removal cost provision
Regulatory Liabilities [Line Items]
Total regulatory liabilities	1,189	1,206
Renewable energy surcharge
Regulatory Liabilities [Line Items]
Total regulatory liabilities	97	100
Rate stabilization and related accounts
Regulatory Liabilities [Line Items]
Total regulatory liabilities	94	104
Energy efficiency liability
Regulatory Liabilities [Line Items]
Total regulatory liabilities	77	83
Derivatives | Energy contracts subject to regulatory deferral
Regulatory Liabilities [Line Items]
Total regulatory liabilities	55	17
Employee future benefits
Regulatory Liabilities [Line Items]
Total regulatory liabilities	16	43
Other
Regulatory Liabilities [Line Items]
Total regulatory liabilities	236	189
Deferred income taxes
Regulatory Assets [Line Items]
Total regulatory assets	1,732	1,697
Employee future benefits
Regulatory Assets [Line Items]
Total regulatory assets	553	588
Deferred energy management costs
Regulatory Assets [Line Items]
Total regulatory assets	349	334
Rate stabilization and related accounts
Regulatory Assets [Line Items]
Total regulatory assets	277	213
Deferred lease costs
Regulatory Assets [Line Items]
Total regulatory assets	124	122
Manufactured gas plant site remediation deferral
Regulatory Assets [Line Items]
Total regulatory assets	100	107
Derivatives | Energy contracts subject to regulatory deferral
Regulatory Assets [Line Items]
Total regulatory assets	75	73
Regulatory Liabilities [Line Items]
Total regulatory liabilities	55	17
AESO charges deferral
Regulatory Assets [Line Items]
Total regulatory assets	52	35
Generation early retirement costs
Regulatory Assets [Line Items]
Total regulatory assets	50	55
Other
Regulatory Assets [Line Items]
Total regulatory assets	$ 386	$ 364

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - CAD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term debt, excluding credit facility borrowings	$ 24,156	$ 23,534
Long-term debt	24,815	24,514
Less: Deferred financing costs and debt discounts	(150)	(147)
Less: Current installments of long-term debt	(723)	(1,254)
Long-term debt less current portion and deferred financing costs and debt discounts	23,942	23,113
Credit facility
Debt Instrument [Line Items]
Less: Current installments of long-term debt	(162)	(651)
Credit facility | Long-term credit facility borrowings
Debt Instrument [Line Items]
Long-term debt	$ 659	$ 980

Long-Term Debt - Long-term Debt

Long-Term Debt - Long-term Debt Issuances (Details) $ in Millions, $ in Millions	1 Months Ended
	Jul. 31, 2021USD ($)	Apr. 30, 2021CAD ($)	May 31, 2022USD ($)	May 31, 2021USD ($)	May 31, 2021CAD ($)	Mar. 31, 2021USD ($)
UNS Energy | Unsecured | Three Point Two Five Percent Unsecured Senior Notes
Debt Instrument [Line Items]
Interest rate				3.25%	3.25%
Debt instrument, face amount				$ 325
Central Hudson | Unsecured | Three Point Two Nine Percent Unsecured Senior Notes
Debt Instrument [Line Items]
Interest rate						3.29%
Debt instrument, face amount						$ 75
FortisBC Energy | Unsecured | Two Point Four Two Percent Unsecured Debentures
Debt Instrument [Line Items]
Interest rate		2.42%
Debt instrument, face amount		$ 150
Fortis | Unsecured Revolving Committed Credit Facility
Debt Instrument [Line Items]
Debt instrument, term		1 year
Fortis | Unsecured | Two Point One Eight Percent Unsecured Senior Notes
Debt Instrument [Line Items]
Interest rate				2.18%	2.18%
Debt instrument, face amount					$ 500
ITC | Two Point Nine Zero Percent Secured Senior Notes | Subsequent Event
Debt Instrument [Line Items]
Interest rate	2.90%
Debt instrument, face amount	$ 75
Debt instrument, term	30 years
ITC | Three Point Zero Five Secured Senior Notes | Subsequent Event
Debt Instrument [Line Items]
Interest rate			3.05%
Debt instrument, face amount			$ 75

Long-Term Debt - Schedule of Cr

Long-Term Debt - Schedule of Credit Facilities (Details) - CAD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Line of Credit Facility [Line Items]
Total credit facilities	$ 4,936	$ 5,581
Credit facilities utilized:
Short-term borrowings	(269)	(132)
Long-term debt (including current portion)	(24,815)	(24,514)
Letters of credit outstanding	(116)	(130)
Credit facilities unutilized	3,892	4,339
Current installments of long-term debt	$ 723	$ 1,254
Credit facility
Credit facilities utilized:
Long-term debt (including current portion), weighted average interest rate (percent)	1.10%	0.90%
Current installments of long-term debt	$ 162	$ 651
Credit facility
Credit facilities utilized:
Short-term borrowings	$ (269)	$ (132)
Short-term borrowings, weighted average interest rate (percent)	0.30%	0.80%
Credit facility
Credit facilities utilized:
Long-term debt (including current portion)	$ (659)	$ (980)
Regulated Utilities
Line of Credit Facility [Line Items]
Total credit facilities	3,556
Credit facilities utilized:
Letters of credit outstanding	(69)
Credit facilities unutilized	2,627
Regulated Utilities | Credit facility
Credit facilities utilized:
Short-term borrowings	(269)
Regulated Utilities | Credit facility
Credit facilities utilized:
Long-term debt (including current portion)	(591)
Corporate and Other
Line of Credit Facility [Line Items]
Total credit facilities	1,380
Credit facilities utilized:
Letters of credit outstanding	(47)
Credit facilities unutilized	1,265
Corporate and Other | Credit facility
Credit facilities utilized:
Short-term borrowings	0
Corporate and Other | Credit facility
Credit facilities utilized:
Long-term debt (including current portion)	$ (68)

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - CAD ($) $ in Millions	1 Months Ended	6 Months Ended
	Apr. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 4,936	$ 5,581
No one bank | Bank concentration risk | Credit facility
Debt Instrument [Line Items]
Concentration risk percentage		20.00%
Committed facilities with maturities ranging from 2022 through 2026
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 4,700
Unsecured Revolving Committed Credit Facility | Corporate
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 1,300
Termination of debt	$ 500
Debt instrument, term	1 year

Preference Shares (Details)

Preference Shares (Details) - $ / shares	Jun. 01, 2020	May 31, 2020	May 31, 2025
First Preference Shares, Series H
Conversion of Stock [Line Items]
Annual dividend (CAD per share)		$ 0.6250
First Preference Shares, Series H | Forecast
Conversion of Stock [Line Items]
Annual dividend (CAD per share)			$ 0.45875
First Preference Shares, Series H
Conversion of Stock [Line Items]
Number of shares converted (in shares)	267,341
Number of shares issued for each share of convertible preferred stock (in shares)	1
First Preference Shares, Series I
Conversion of Stock [Line Items]
Number of shares converted (in shares)	907,577
Number of shares issued for each share of convertible preferred stock (in shares)	1

Employee Future Benefits - Sche

Employee Future Benefits - Schedule of Net Benefit Costs (Details) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Defined Benefit Pension Plans
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service costs	$ 27	$ 25	$ 55	$ 50
Interest costs	24	29	49	57
Expected return on plan assets	(43)	(44)	(88)	(88)
Amortization of actuarial losses (gains)	9	9	18	17
Amortization of past service credits/plan amendments	(1)	(1)	(1)	(1)
Regulatory adjustments	(1)	(1)	(1)	(2)
Net benefit cost	15	17	32	33
OPEB Plans
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service costs	9	8	18	16
Interest costs	4	5	9	11
Expected return on plan assets	(4)	(5)	(9)	(10)
Amortization of actuarial losses (gains)	0	(2)	(1)	(3)
Amortization of past service credits/plan amendments	0	0	0	(1)
Regulatory adjustments	0	1	1	2
Net benefit cost	$ 9	$ 7	$ 18	$ 15

Employee Future Benefits - Narr

Employee Future Benefits - Narrative (Details) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Retirement Benefits [Abstract]
Defined contribution plan cost recognized	$ 10	$ 9	$ 23	$ 22

Other Income, Net (Details)

Other Income, Net (Details) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Other Income and Expenses [Abstract]
Equity component, allowance for funds used during construction	$ 17	$ 21	$ 39	$ 35
Non-service benefit cost	12	9	23	18
Derivative gains	4	7	13	0
Interest income	2	3	4	8
Other	7	7	13	(5)
Other income, net	$ 42	$ 47	$ 92	$ 56

Earnings Per Common Share - Sch

Earnings Per Common Share - Schedule of Earnings Per Share (EPS) (Details) - CAD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net Earnings to Common Shareholders
Basic EPS	$ 253	$ 274	$ 608	$ 586
Potential dilutive effect of stock options	0	0	0	0
Diluted EPS	$ 253	$ 274	$ 608	$ 586
Weighted Average Shares
Basic EPS (shares)	470.2	464.6	469	464.2
Potential dilutive effect of stock options (shares)	0.4	0.6	0.4	0.6
Diluted EPS (shares)	470.6	465.2	469.4	464.8
EPS
Basic (CAD per share)	$ 0.54	$ 0.59	$ 1.30	$ 1.26
Diluted (CAD per share)	$ 0.54	$ 0.59	$ 1.30	$ 1.26

Supplementary Cash Flow Infor_3

Supplementary Cash Flow Information (Details) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Change in working capital
Accounts receivable and other current assets	$ 91	$ 69	$ 42	$ 107
Prepaid expenses	26	29	23	25
Inventories	(25)	(45)	0	(1)
Regulatory assets - current portion	0	14	(69)	28
Accounts payable and other current liabilities	(41)	14	(11)	(194)
Regulatory liabilities - current portion	(11)	(108)	(32)	(146)
Changes in working capital	40	(27)	(47)	(181)
Non-cash investing and financing activities
Accrued capital expenditures	327	367	327	367
Common share dividends reinvested	87	10	176	18
Contributions in aid of construction	$ 13	$ 8	$ 13	$ 8

Fair Value of Financial Instr_3

Fair Value of Financial Instruments and Risk Management - Derivative Narrative (Details) - CAD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized losses recognized in regulatory assets	$ 3,698		$ 3,698		$ 3,588
Unrealized gains recognized as regulatory liabilities	3,073		3,073		3,103
Mutual funds and money market accounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized gains (losses) on investments	4	$ 9	$ 6	$ (2)
UNS Energy
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Realized gains, portion shared with customers (percent)			10.00%
Total return swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional amount	112		$ 112
Unrealized gains (losses) on derivatives	1	(5)	$ 3	(9)
Total return swaps | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative terms			1 year
Total return swaps | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative terms			3 years
Foreign exchange contracts | Not designated as hedging instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional amount	170		$ 170
Unrealized gains (losses) on derivatives	(4)	11	(2)	2
Energy contracts | Not designated as hedging instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized gains (losses) on energy contracts	(8)	$ 7	(13)	$ 4
Derivative instruments | Energy contracts subject to regulatory deferral
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized losses recognized in regulatory assets	75		75		73
Unrealized gains recognized as regulatory liabilities	$ 55		$ 55		$ 17

Fair Value of Financial Instr_4

Fair Value of Financial Instruments and Risk Management - Fair Value Hierarchy (Details) - Recurring - CAD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Assets
Cash equivalents	$ 310
Other investments	132	$ 126
Total Assets	542	186
Liabilities
Total Liabilities	(124)	(106)
Energy contracts subject to regulatory deferral
Assets
Derivative asset	80	38
Liabilities
Derivative liability	(100)	(94)
Energy contracts not subject to regulatory deferral
Assets
Derivative asset	3	6
Liabilities
Derivative liability	(24)	(12)
Foreign exchange contracts and total return swaps
Assets
Derivative asset	17	16
Level 1
Assets
Cash equivalents	310
Other investments	132	126
Total Assets	459	142
Liabilities
Total Liabilities	0	0
Level 1 | Energy contracts subject to regulatory deferral
Assets
Derivative asset	0	0
Liabilities
Derivative liability	0	0
Level 1 | Energy contracts not subject to regulatory deferral
Assets
Derivative asset	0	0
Liabilities
Derivative liability	0	0
Level 1 | Foreign exchange contracts and total return swaps
Assets
Derivative asset	17	16
Level 2
Assets
Cash equivalents	0
Other investments	0	0
Total Assets	83	44
Liabilities
Total Liabilities	(124)	(106)
Level 2 | Energy contracts subject to regulatory deferral
Assets
Derivative asset	80	38
Liabilities
Derivative liability	(100)	(94)
Level 2 | Energy contracts not subject to regulatory deferral
Assets
Derivative asset	3	6
Liabilities
Derivative liability	(24)	(12)
Level 2 | Foreign exchange contracts and total return swaps
Assets
Derivative asset	0	0
Level 3
Assets
Cash equivalents	0
Other investments	0	0
Total Assets	0	0
Liabilities
Total Liabilities	0	0
Level 3 | Energy contracts subject to regulatory deferral
Assets
Derivative asset	0	0
Liabilities
Derivative liability	0	0
Level 3 | Energy contracts not subject to regulatory deferral
Assets
Derivative asset	0	0
Liabilities
Derivative liability	0	0
Level 3 | Foreign exchange contracts and total return swaps
Assets
Derivative asset	$ 0	$ 0

Fair Value of Financial Instr_5

Fair Value of Financial Instruments and Risk Management - Derivative Contracts Under Master Netting Agreements and Collateral Positions (Details) (Details) - Energy contracts - CAD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Derivative assets
Gross Amount Recognized in Balance Sheet	$ 83	$ 44
Counterparty Netting of Energy Contracts	39	26
Cash Collateral Received/Posted	6	10
Net Amount	38	8
Derivative liabilities
Gross Amount Recognized in Balance Sheet	(124)	(106)
Counterparty Netting of Energy Contracts	(39)	(26)
Cash Collateral Received/Posted	(30)	(9)
Net Amount	$ (55)	$ (71)

Fair Value of Financial Instr_6

Fair Value of Financial Instruments and Risk Management - Volume of Derivative Activity (Details) kJ in Trillions	6 Months Ended	12 Months Ended
	Jun. 30, 2021kJGWh	Dec. 31, 2020kJGWh
Electricity swap contracts, Energy contracts subject to regulatory deferral
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Volume (gwh / kj) | GWh	246	522
Electricity power purchase contracts, Energy contracts subject to regulatory deferral
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Volume (gwh / kj) | GWh	1,673	2,781
Gas swap contracts, Energy contracts subject to regulatory deferral
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Volume (gwh / kj) | kJ	171	156
Gas supply contract premiums, Energy contracts subject to regulatory deferral
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Volume (gwh / kj) | kJ	167	203
Wholesale trading contracts, Energy contracts not subject to regulatory deferral
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Volume (gwh / kj) | GWh	883	1,588
Gas swap contracts, Energy Contracts not subject to regulatory deferral
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Volume (gwh / kj) | kJ	16	36

Fair Value of Financial Instr_7

Fair Value of Financial Instruments and Risk Management - Credit Risk Narrative (Details) - CAD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Value of derivative instruments in net liability positions	$ 94	$ 88
Revenue | Three Customers | Customer Concentration Risk | ITC
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Concentration risk percentage	70.00%

Fair Value of Financial Instr_8

Fair Value of Financial Instruments and Risk Management - Foreign Exchange Hedge Narrative (Details) - Foreign net investments - USD ($) $ in Billions	Jun. 30, 2021	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unhedged foreign net investments	$ 10.6	$ 10.2
Designated as hedging instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Long-term debt designated as an effective hedge	$ 2.1	$ 2.3

Fair Value of Financial Instr_9

Fair Value of Financial Instruments and Risk Management - Financial Instruments Not Carried At Fair Value Narrative (Details) - CAD ($) $ in Billions	Jun. 30, 2021	Dec. 31, 2020
Carrying Value
Debt Instrument [Line Items]
Long-term debt, including current portion	$ 24.8	$ 24.5
Estimated Fair Value
Debt Instrument [Line Items]
Long-term debt, including current portion	$ 28.1	$ 29.1

Commitments and Contingencies (

Commitments and Contingencies (Details)	Jun. 30, 2021CAD ($)
FortisBC Holdings and Fortis | Claim related to pipeline rights
Site Contingency [Line Items]
Contingency accrual	$ 0