000166617512/316/30/20252025Q2falseiso4217:CADxbrli:sharesiso4217:CADxbrli:sharesxbrli:pureiso4217:USDiso4217:USDxbrli:sharesutr:GWhutr:GJfts:turbine00016661752025-01-012025-06-3000016661752025-06-3000016661752024-12-3100016661752025-04-012025-06-3000016661752024-04-012024-06-3000016661752024-01-012024-06-3000016661752025-03-3100016661752024-03-3100016661752023-12-3100016661752024-06-300001666175us-gaap:CommonStockMember2025-03-310001666175us-gaap:PreferredStockMember2025-03-310001666175us-gaap:AdditionalPaidInCapitalMember2025-03-310001666175us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-03-310001666175us-gaap:RetainedEarningsMember2025-03-310001666175us-gaap:NoncontrollingInterestMember2025-03-310001666175us-gaap:RetainedEarningsMember2025-04-012025-06-300001666175us-gaap:NoncontrollingInterestMember2025-04-012025-06-300001666175us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-04-012025-06-300001666175us-gaap:CommonStockMember2025-04-012025-06-300001666175us-gaap:CommonStockMember2025-06-300001666175us-gaap:PreferredStockMember2025-06-300001666175us-gaap:AdditionalPaidInCapitalMember2025-06-300001666175us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-06-300001666175us-gaap:RetainedEarningsMember2025-06-300001666175us-gaap:NoncontrollingInterestMember2025-06-300001666175us-gaap:CommonStockMember2024-03-310001666175us-gaap:PreferredStockMember2024-03-310001666175us-gaap:AdditionalPaidInCapitalMember2024-03-310001666175us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-03-310001666175us-gaap:RetainedEarningsMember2024-03-310001666175us-gaap:NoncontrollingInterestMember2024-03-310001666175us-gaap:RetainedEarningsMember2024-04-012024-06-300001666175us-gaap:NoncontrollingInterestMember2024-04-012024-06-300001666175us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-04-012024-06-300001666175us-gaap:CommonStockMember2024-04-012024-06-300001666175us-gaap:CommonStockMember2024-06-300001666175us-gaap:PreferredStockMember2024-06-300001666175us-gaap:AdditionalPaidInCapitalMember2024-06-300001666175us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-300001666175us-gaap:RetainedEarningsMember2024-06-300001666175us-gaap:NoncontrollingInterestMember2024-06-300001666175us-gaap:CommonStockMember2024-12-310001666175us-gaap:PreferredStockMember2024-12-310001666175us-gaap:AdditionalPaidInCapitalMember2024-12-310001666175us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-12-310001666175us-gaap:RetainedEarningsMember2024-12-310001666175us-gaap:NoncontrollingInterestMember2024-12-310001666175us-gaap:RetainedEarningsMember2025-01-012025-06-300001666175us-gaap:NoncontrollingInterestMember2025-01-012025-06-300001666175us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-01-012025-06-300001666175us-gaap:CommonStockMember2025-01-012025-06-300001666175us-gaap:AdditionalPaidInCapitalMember2025-01-012025-06-300001666175us-gaap:CommonStockMember2023-12-310001666175us-gaap:PreferredStockMember2023-12-310001666175us-gaap:AdditionalPaidInCapitalMember2023-12-310001666175us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310001666175us-gaap:RetainedEarningsMember2023-12-310001666175us-gaap:NoncontrollingInterestMember2023-12-310001666175us-gaap:RetainedEarningsMember2024-01-012024-06-300001666175us-gaap:NoncontrollingInterestMember2024-01-012024-06-300001666175us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-06-300001666175us-gaap:CommonStockMember2024-01-012024-06-300001666175us-gaap:AdditionalPaidInCapitalMember2024-01-012024-06-300001666175fts:ITCHoldingsCorpMember2025-06-300001666175fts:WataynikaneyapPowerLimitedPartnershipMember2025-06-300001666175fts:CaribbeanUtilitiesCompanyLtd.Member2025-06-300001666175fts:BelizeElectricityLimitedMember2025-06-300001666175fts:ITCHoldingsCorpMemberfts:USFederalEnergyRegulatoryCommissionMember2024-09-302024-09-300001666175fts:ITCHoldingsCorpMemberfts:USFederalEnergyRegulatoryCommissionMember2024-10-012024-10-310001666175srt:MaximumMemberfts:ITCHoldingsCorpMemberfts:USFederalEnergyRegulatoryCommissionMember2024-10-012024-10-310001666175srt:ScenarioForecastMemberfts:TucsonElectricPowerCompanyMemberfts:ArizonaCorporationCommissionMember2026-09-012026-09-010001666175srt:ScenarioForecastMemberfts:TucsonElectricPowerCompanyMemberfts:ArizonaCorporationCommissionMember2026-09-010001666175fts:GeneralRateApplicationMemberfts:CentralHudsonGasandElectricCorporationMemberfts:NewYorkPublicServiceCommissionMember2025-05-012025-05-310001666175us-gaap:RelatedPartyMember2025-06-300001666175us-gaap:RelatedPartyMember2024-12-310001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:ITCHoldingsCorpMember2025-04-012025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:UNSEnergyCorporationMember2025-04-012025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:CentralHudsonGasandElectricCorporationMember2025-04-012025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:FortisBCEnergyInc.Member2025-04-012025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:FortisAlbertaInc.Member2025-04-012025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:FortisBCInc.Member2025-04-012025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:OtherElectricMember2025-04-012025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMember2025-04-012025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:UnregulatedOperationMemberus-gaap:CorporateAndOtherMember2025-04-012025-06-300001666175us-gaap:IntersegmentEliminationMember2025-04-012025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:ITCHoldingsCorpMember2025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:UNSEnergyCorporationMember2025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:CentralHudsonGasandElectricCorporationMember2025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:FortisBCEnergyInc.Member2025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:FortisAlbertaInc.Member2025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:FortisBCInc.Member2025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:OtherElectricMember2025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMember2025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:UnregulatedOperationMemberus-gaap:CorporateAndOtherMember2025-06-300001666175us-gaap:IntersegmentEliminationMember2025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:ITCHoldingsCorpMember2024-04-012024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:UNSEnergyCorporationMember2024-04-012024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:CentralHudsonGasandElectricCorporationMember2024-04-012024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:FortisBCEnergyInc.Member2024-04-012024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:FortisAlbertaInc.Member2024-04-012024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:FortisBCInc.Member2024-04-012024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:OtherElectricMember2024-04-012024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMember2024-04-012024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:UnregulatedOperationMemberus-gaap:CorporateAndOtherMember2024-04-012024-06-300001666175us-gaap:IntersegmentEliminationMember2024-04-012024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:ITCHoldingsCorpMember2024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:UNSEnergyCorporationMember2024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:CentralHudsonGasandElectricCorporationMember2024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:FortisBCEnergyInc.Member2024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:FortisAlbertaInc.Member2024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:FortisBCInc.Member2024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:OtherElectricMember2024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMember2024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:UnregulatedOperationMemberus-gaap:CorporateAndOtherMember2024-06-300001666175us-gaap:IntersegmentEliminationMember2024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:ITCHoldingsCorpMember2025-01-012025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:UNSEnergyCorporationMember2025-01-012025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:CentralHudsonGasandElectricCorporationMember2025-01-012025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:FortisBCEnergyInc.Member2025-01-012025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:FortisAlbertaInc.Member2025-01-012025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:FortisBCInc.Member2025-01-012025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:OtherElectricMember2025-01-012025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMember2025-01-012025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:UnregulatedOperationMemberus-gaap:CorporateAndOtherMember2025-01-012025-06-300001666175us-gaap:IntersegmentEliminationMember2025-01-012025-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:ITCHoldingsCorpMember2024-01-012024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:UNSEnergyCorporationMember2024-01-012024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:CentralHudsonGasandElectricCorporationMember2024-01-012024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:FortisBCEnergyInc.Member2024-01-012024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:FortisAlbertaInc.Member2024-01-012024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:FortisBCInc.Member2024-01-012024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMemberfts:OtherElectricMember2024-01-012024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:RegulatedOperationMember2024-01-012024-06-300001666175us-gaap:OperatingSegmentsMemberus-gaap:UnregulatedOperationMemberus-gaap:CorporateAndOtherMember2024-01-012024-06-300001666175us-gaap:IntersegmentEliminationMember2024-01-012024-06-300001666175us-gaap:DeferredIncomeTaxChargesMember2025-06-300001666175us-gaap:DeferredIncomeTaxChargesMember2024-12-310001666175us-gaap:DeferredProjectCostsMember2025-06-300001666175us-gaap:DeferredProjectCostsMember2024-12-310001666175fts:RateStabilizationAndRelatedAccountsMember2025-06-300001666175fts:RateStabilizationAndRelatedAccountsMember2024-12-310001666175us-gaap:PensionAndOtherPostretirementPlansCostsMember2025-06-300001666175us-gaap:PensionAndOtherPostretirementPlansCostsMember2024-12-310001666175fts:DeferredLeaseCostsMember2025-06-300001666175fts:DeferredLeaseCostsMember2024-12-310001666175fts:StormRestorationCostsMember2025-06-300001666175fts:StormRestorationCostsMember2024-12-310001666175fts:EnergyRelatedDerivativesSubjecttoRegulatoryDeferralMemberus-gaap:DeferredDerivativeGainLossMember2025-06-300001666175fts:EnergyRelatedDerivativesSubjecttoRegulatoryDeferralMemberus-gaap:DeferredDerivativeGainLossMember2024-12-310001666175us-gaap:EnvironmentalRestorationCostsMember2025-06-300001666175us-gaap:EnvironmentalRestorationCostsMember2024-12-310001666175us-gaap:AssetRetirementObligationCostsMember2025-06-300001666175us-gaap:AssetRetirementObligationCostsMember2024-12-310001666175fts:RenewableNaturalGasAccountMember2025-06-300001666175fts:RenewableNaturalGasAccountMember2024-12-310001666175us-gaap:OtherRegulatoryAssetsLiabilitiesMember2025-06-300001666175us-gaap:OtherRegulatoryAssetsLiabilitiesMember2024-12-310001666175us-gaap:RemovalCostsMember2025-06-300001666175us-gaap:RemovalCostsMember2024-12-310001666175us-gaap:DeferredIncomeTaxChargesMember2025-06-300001666175us-gaap:DeferredIncomeTaxChargesMember2024-12-310001666175us-gaap:PensionAndOtherPostretirementPlansCostsMember2025-06-300001666175us-gaap:PensionAndOtherPostretirementPlansCostsMember2024-12-310001666175fts:RateStabilizationAndRelatedAccountsMember2025-06-300001666175fts:RateStabilizationAndRelatedAccountsMember2024-12-310001666175us-gaap:RenewableEnergyProgramMember2025-06-300001666175us-gaap:RenewableEnergyProgramMember2024-12-310001666175fts:EnergyEfficiencyLiabilityMember2025-06-300001666175fts:EnergyEfficiencyLiabilityMember2024-12-310001666175fts:ElectricAndGasModeratorAccountMember2025-06-300001666175fts:ElectricAndGasModeratorAccountMember2024-12-310001666175fts:AlbertaElectricSystemOperatorChargesDeferralMember2025-06-300001666175fts:AlbertaElectricSystemOperatorChargesDeferralMember2024-12-310001666175us-gaap:OtherRegulatoryAssetsLiabilitiesMember2025-06-300001666175us-gaap:OtherRegulatoryAssetsLiabilitiesMember2024-12-310001666175fts:LongtermCreditFacilityBorrowingsMemberus-gaap:LineOfCreditMember2025-06-300001666175fts:LongtermCreditFacilityBorrowingsMemberus-gaap:LineOfCreditMember2024-12-310001666175fts:UnsecuredSeniorNotesFebruaryIssuance2055MaturityMemberfts:UNSEnergyCorporationMemberus-gaap:UnsecuredDebtMember2025-02-280001666175fts:SeniorNotesAprilIssuance2035MaturityMemberfts:CentralHudsonGasandElectricCorporationMemberus-gaap:UnsecuredDebtMember2025-04-300001666175fts:SeniorNotesAprilIssuance2040MaturityMemberfts:CentralHudsonGasandElectricCorporationMemberus-gaap:UnsecuredDebtMember2025-04-300001666175fts:SeniorNotesAprilIssuance2045MaturityMemberfts:CentralHudsonGasandElectricCorporationMemberus-gaap:UnsecuredDebtMember2025-04-300001666175fts:UnsecuredSeniorNotesMarchIssuance2032MaturityMemberfts:FortisInc.Memberus-gaap:UnsecuredDebtMember2025-03-310001666175fts:SeniorUnsecuredDebenturesJulyIssuance2055MaturityMemberfts:FortisAlbertaInc.Memberus-gaap:UnsecuredDebtMemberus-gaap:SubsequentEventMember2025-07-310001666175fts:SeniorUnsecuredDebenturesJulyIssuance2055MaturityMemberfts:FortisAlbertaInc.Memberus-gaap:UnsecuredDebtMemberus-gaap:SubsequentEventMember2025-07-012025-07-310001666175fts:FirstMortgageBondsMaritimeElectricJulyIssuance2055MaturityMemberfts:MaritimeElectricCompanyLimitedMemberus-gaap:UnsecuredDebtMemberus-gaap:SubsequentEventMember2025-07-310001666175fts:FirstMortgageBondsMaritimeElectricJulyIssuance2055MaturityMemberfts:MaritimeElectricCompanyLimitedMemberus-gaap:UnsecuredDebtMemberus-gaap:SubsequentEventMember2025-07-012025-07-3100016661752024-12-012024-12-310001666175us-gaap:RegulatedOperationMember2025-06-300001666175us-gaap:UnregulatedOperationMember2025-06-300001666175us-gaap:LineOfCreditMemberus-gaap:RegulatedOperationMember2025-06-300001666175us-gaap:LineOfCreditMemberus-gaap:UnregulatedOperationMember2025-06-300001666175us-gaap:LineOfCreditMember2025-06-300001666175us-gaap:LineOfCreditMember2024-12-310001666175us-gaap:LineOfCreditMemberus-gaap:RegulatedOperationMember2025-06-300001666175us-gaap:LineOfCreditMemberus-gaap:UnregulatedOperationMember2025-06-300001666175us-gaap:LineOfCreditMember2025-06-300001666175us-gaap:LineOfCreditMember2024-12-310001666175us-gaap:LineOfCreditMember2025-06-300001666175us-gaap:LineOfCreditMember2024-12-310001666175fts:NoOneBankMemberus-gaap:LenderConcentrationRiskMemberus-gaap:LineOfCreditMember2025-01-012025-06-300001666175fts:CommittedCreditFacilitiesMaturing2024Through2028Member2025-06-300001666175fts:UnsecuredCommittedRevolvingCreditFacilitiesMemberfts:FortisAlbertaInc.Member2025-03-310001666175fts:UnsecuredCommittedRevolvingCreditFacilitiesMemberfts:FortisAlbertaInc.Member2025-04-300001666175fts:UnsecuredNonRevolvingFacility2026MaturityMemberfts:FortisInc.Member2025-04-300001666175fts:UnsecuredCommittedRevolvingCreditFacilitiesMemberfts:FortisInc.Member2025-05-310001666175us-gaap:SeriesHPreferredStockMember2025-05-312025-05-310001666175us-gaap:SeriesHPreferredStockMember2025-06-012025-06-010001666175fts:SeriesIPreferredStockMember2025-06-010001666175us-gaap:SeriesHPreferredStockMember2025-06-010001666175us-gaap:PensionPlansDefinedBenefitMember2025-04-012025-06-300001666175us-gaap:PensionPlansDefinedBenefitMember2024-04-012024-06-300001666175us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2025-04-012025-06-300001666175us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2024-04-012024-06-300001666175us-gaap:PensionPlansDefinedBenefitMember2025-01-012025-06-300001666175us-gaap:PensionPlansDefinedBenefitMember2024-01-012024-06-300001666175us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2025-01-012025-06-300001666175us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2024-01-012024-06-300001666175fts:UNSEnergyCorporationMember2025-01-012025-06-300001666175fts:EnergyRelatedDerivativesNotSubjecttoRegulatoryDeferralMember2025-04-012025-06-300001666175fts:EnergyRelatedDerivativesNotSubjecttoRegulatoryDeferralMember2025-01-012025-06-300001666175fts:EnergyRelatedDerivativesNotSubjecttoRegulatoryDeferralMember2024-04-012024-06-300001666175fts:EnergyRelatedDerivativesNotSubjecttoRegulatoryDeferralMember2024-01-012024-06-300001666175us-gaap:TotalReturnSwapMemberfts:FortisInc.Member2025-06-300001666175us-gaap:TotalReturnSwapMembersrt:MaximumMemberfts:FortisInc.Member2025-01-012025-06-300001666175us-gaap:TotalReturnSwapMemberfts:FortisInc.Member2025-04-012025-06-300001666175us-gaap:TotalReturnSwapMemberfts:FortisInc.Member2025-01-012025-06-300001666175us-gaap:TotalReturnSwapMemberfts:FortisInc.Member2024-04-012024-06-300001666175us-gaap:TotalReturnSwapMemberfts:FortisInc.Member2024-01-012024-06-300001666175us-gaap:ForeignExchangeContractMemberfts:FortisInc.Member2025-06-300001666175us-gaap:ForeignExchangeContractMemberfts:FortisInc.Member2025-04-012025-06-300001666175us-gaap:ForeignExchangeContractMemberfts:FortisInc.Member2025-01-012025-06-300001666175us-gaap:ForeignExchangeContractMemberfts:FortisInc.Member2024-04-012024-06-300001666175us-gaap:ForeignExchangeContractMemberfts:FortisInc.Member2024-01-012024-06-300001666175us-gaap:InterestRateSwapMemberfts:ITCHoldingsCorpMember2025-01-012025-06-300001666175us-gaap:InterestRateSwapMemberfts:ITCHoldingsCorpMember2025-06-300001666175us-gaap:InterestRateSwapMemberfts:ITCHoldingsCorpMember2025-04-012025-06-300001666175us-gaap:InterestRateSwapMemberfts:ITCHoldingsCorpMember2024-01-012024-06-300001666175us-gaap:InterestRateSwapMemberfts:ITCHoldingsCorpMember2024-04-012024-06-300001666175fts:UnsecuredSeniorNotes2029MaturityFortisMemberfts:FortisInc.Memberus-gaap:UnsecuredDebtMember2025-06-300001666175us-gaap:CrossCurrencyInterestRateContractMemberfts:FortisInc.Member2025-06-300001666175us-gaap:CrossCurrencyInterestRateContractMemberfts:FortisInc.Member2025-04-012025-06-300001666175us-gaap:CrossCurrencyInterestRateContractMemberfts:FortisInc.Member2025-01-012025-06-300001666175us-gaap:CrossCurrencyInterestRateContractMemberfts:FortisInc.Member2024-04-012024-06-300001666175us-gaap:CrossCurrencyInterestRateContractMemberfts:FortisInc.Member2024-01-012024-06-300001666175fts:EnergyRelatedDerivativesSubjecttoRegulatoryDeferralMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-06-300001666175fts:EnergyRelatedDerivativesSubjecttoRegulatoryDeferralMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-06-300001666175fts:EnergyRelatedDerivativesSubjecttoRegulatoryDeferralMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-06-300001666175fts:EnergyRelatedDerivativesSubjecttoRegulatoryDeferralMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300001666175fts:EnergyRelatedDerivativesNotSubjecttoRegulatoryDeferralMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-06-300001666175fts:EnergyRelatedDerivativesNotSubjecttoRegulatoryDeferralMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-06-300001666175fts:EnergyRelatedDerivativesNotSubjecttoRegulatoryDeferralMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-06-300001666175fts:EnergyRelatedDerivativesNotSubjecttoRegulatoryDeferralMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300001666175fts:ForeignExchangeContractsAndTotalReturnSwapsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-06-300001666175fts:ForeignExchangeContractsAndTotalReturnSwapsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-06-300001666175fts:ForeignExchangeContractsAndTotalReturnSwapsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-06-300001666175fts:ForeignExchangeContractsAndTotalReturnSwapsMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300001666175us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-06-300001666175us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-06-300001666175us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-06-300001666175us-gaap:FairValueMeasurementsRecurringMember2025-06-300001666175fts:CrossCurrencyInterestRateSwapsAndInterestRateContractsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-06-300001666175fts:CrossCurrencyInterestRateSwapsAndInterestRateContractsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-06-300001666175fts:CrossCurrencyInterestRateSwapsAndInterestRateContractsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-06-300001666175fts:CrossCurrencyInterestRateSwapsAndInterestRateContractsMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300001666175fts:EnergyRelatedDerivativesSubjecttoRegulatoryDeferralMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-12-310001666175fts:EnergyRelatedDerivativesSubjecttoRegulatoryDeferralMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-12-310001666175fts:EnergyRelatedDerivativesSubjecttoRegulatoryDeferralMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-12-310001666175fts:EnergyRelatedDerivativesSubjecttoRegulatoryDeferralMemberus-gaap:FairValueMeasurementsRecurringMember2024-12-310001666175fts:EnergyRelatedDerivativesNotSubjecttoRegulatoryDeferralMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-12-310001666175fts:EnergyRelatedDerivativesNotSubjecttoRegulatoryDeferralMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-12-310001666175fts:EnergyRelatedDerivativesNotSubjecttoRegulatoryDeferralMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-12-310001666175fts:EnergyRelatedDerivativesNotSubjecttoRegulatoryDeferralMemberus-gaap:FairValueMeasurementsRecurringMember2024-12-310001666175fts:TotalReturnSwapsAndInterestRateContractsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-12-310001666175fts:TotalReturnSwapsAndInterestRateContractsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-12-310001666175fts:TotalReturnSwapsAndInterestRateContractsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-12-310001666175fts:TotalReturnSwapsAndInterestRateContractsMemberus-gaap:FairValueMeasurementsRecurringMember2024-12-310001666175us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-12-310001666175us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-12-310001666175us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-12-310001666175us-gaap:FairValueMeasurementsRecurringMember2024-12-310001666175fts:ForeignExchangeContractsAndCrossCurrencyInterestRateSwapsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-12-310001666175fts:ForeignExchangeContractsAndCrossCurrencyInterestRateSwapsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-12-310001666175fts:ForeignExchangeContractsAndCrossCurrencyInterestRateSwapsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-12-310001666175fts:ForeignExchangeContractsAndCrossCurrencyInterestRateSwapsMemberus-gaap:FairValueMeasurementsRecurringMember2024-12-310001666175us-gaap:EnergyRelatedDerivativeMember2025-06-300001666175us-gaap:EnergyRelatedDerivativeMember2024-12-310001666175fts:ElectricitySwapContractsSubjecttoRegulatoryDeferralMember2025-01-012025-06-300001666175fts:ElectricitySwapContractsSubjecttoRegulatoryDeferralMember2024-01-012024-12-310001666175fts:ElectricityPowerPurchaseContractsSubjecttoRegulatoryDeferralMember2025-01-012025-06-300001666175fts:ElectricityPowerPurchaseContractsSubjecttoRegulatoryDeferralMember2024-01-012024-12-310001666175fts:GasSwapContractsSubjecttoRegulatoryDeferralMember2025-01-012025-06-300001666175fts:GasSwapContractsSubjecttoRegulatoryDeferralMember2024-01-012024-12-310001666175fts:GasSupplyContractSubjectToRegulatoryDeferralMember2025-01-012025-06-300001666175fts:GasSupplyContractSubjectToRegulatoryDeferralMember2024-01-012024-12-310001666175fts:WholesaleTradingContractsNotSubjecttoRegulatoryDeferralMember2025-01-012025-06-300001666175fts:WholesaleTradingContractsNotSubjecttoRegulatoryDeferralMember2024-01-012024-12-310001666175fts:GasSwapContractsNotSubjecttoRegulatoryDeferralMember2025-01-012025-06-300001666175fts:GasSwapContractsNotSubjecttoRegulatoryDeferralMember2024-01-012024-12-310001666175fts:ThreeCustomersMemberus-gaap:CustomerConcentrationRiskMemberfts:ITCHoldingsCorpMemberus-gaap:SalesRevenueNetMember2025-01-012025-06-300001666175us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2025-06-300001666175us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-12-310001666175us-gaap:NetInvestmentHedgingMember2025-06-300001666175us-gaap:NetInvestmentHedgingMember2024-12-310001666175us-gaap:CarryingReportedAmountFairValueDisclosureMember2025-06-300001666175us-gaap:CarryingReportedAmountFairValueDisclosureMember2024-12-310001666175us-gaap:EstimateOfFairValueFairValueDisclosureMember2025-06-300001666175us-gaap:EstimateOfFairValueFairValueDisclosureMember2024-12-310001666175fts:UNSElectricInc.Memberfts:EngineeringProcurementAndConstructionAgreementMember2025-05-31
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of August, 2025
Commission File Number: 001-37915
Fortis Inc.
Fortis Place, Suite 1100
5 Springdale Street
St. John's, Newfoundland and Labrador
Canada, A1E 0E4
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40F: Form 20-F o Form 40-F þ
INCORPORATION BY REFERENCE
The registrant's unaudited condensed consolidated interim financial statements as at and for the six months ended June 30, 2025, together with the notes thereto, furnished as Exhibit 99.2 to this report on Form 6-K, and the registrant's management discussion and analysis of financial condition and results of operations for the same period furnished as Exhibit 99.3 to this report on Form 6-K, are incorporated by reference into the following Registration Statements of the Registrant, as amended or supplemented: Form S-8 (File No. 333-226663), Form S-8 (File No. 333-236213), Form F-3 (File No. 333-279253), Form F-10 (File No. 333-283687), Form S-8 (File No. 333-264838), Form S-8 (File No. 333-276111) and Form S-8 (File No. 333-276112), and Form S-8 (File No. 333-281205).
EXHIBITS | | | | | |
| Exhibit | Description |
| |
99.1 | Fortis Inc. Press Release dated August 1, 2025 |
99.2 | Unaudited Condensed Consolidated Interim Financial Statements of Fortis Inc. as at and for the six months ended June 30, 2025, together with the notes thereto |
99.3 | Management Discussion and Analysis of financial condition and results of operations of Fortis Inc. as at and for the six months ended June 30, 2025 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| | | | | | | | | | | | | | | | | |
| | | | |
| Fortis Inc. (Registrant)
| |
| Date: August 1, 2025 | /s/ Jocelyn H. Perry |
| By: | Jocelyn H. Perry |
| Title: | Executive Vice President, Chief Financial Officer |
| | |
