Organization and Basis of Presentation

12 Months Ended

Dec. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Basis of Presentation

Organization and Basis of Presentation

General

AGL Resources Inc. is an energy services holding company that conducts substantially all of its operations through its subsidiaries. Unless the context requires otherwise, references to “we,” “us,” “our,” the “company,” or “AGL Resources” mean consolidated AGL Resources Inc. and its subsidiaries.

Basis of Presentation

Our consolidated financial statements as of and for the period ended December 31, 2015 are prepared in accordance with GAAP and under the rules of the SEC. Our consolidated financial statements include our accounts, the accounts of our wholly owned subsidiaries and the accounts of our VIE for which we are the primary beneficiary. For unconsolidated entities that we do not control, we use the equity method of accounting and our proportionate share of income or loss is recorded on our Consolidated Statements of Income. See Note 11 for additional information. We have eliminated intercompany profits and transactions in consolidation except for intercompany profits where recovery of such amounts is probable under the affiliates’ rate regulation process.

In September 2014, we closed on the sale of Tropical Shipping, which operated within our former cargo shipping segment and whose financial results for the years ended December 31, 2014 and 2013 are reflected as discontinued operations on the Consolidated Statements of Income. Amounts shown in the following notes, unless otherwise indicated, exclude discontinued operations. See Note 15 for additional information on the sale of Tropical Shipping.

Certain amounts from prior periods have been reclassified to conform to the current period presentation. The reclassifications had no material impact on our prior period balances.