XML 59 R19.htm IDEA: XBRL DOCUMENT v2.4.0.8
SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2013
Segment Reporting [Abstract]  
SEGMENT INFORMATION
SEGMENT INFORMATION
We identify reportable segments based on the criteria set forth by the FASB regarding disclosures about segments of an enterprise, including the regulatory environment of our subsidiaries and the business activities performed to earn revenues and incur expenses. The following tables show our financial information by reportable segment:
 
Three months ended
 
Nine months ended
OPERATING REVENUES:
September 30,
 
September 30,
(in thousands)
2013
 
2012
 
2013
 
2012
Regulated Operating Subsidiaries
$
238,857

 
$
214,821

 
$
686,128

 
$
608,950

ITC Holdings and other
152

 
151

 
455

 
455

Intercompany eliminations
(227
)
 
(171
)
 
(680
)
 
(516
)
Total Operating Revenues
$
238,782

 
$
214,801

 
$
685,903

 
$
608,889

 
Three months ended
 
Nine months ended
INCOME BEFORE INCOME TAXES:
September 30,
 
September 30,
(in thousands)
2013
 
2012
 
2013
 
2012
Regulated Operating Subsidiaries
$
131,939

 
$
111,849

 
$
376,398

 
$
307,067

ITC Holdings and other
(38,267
)
 
(32,328
)
 
(124,477
)
 
(90,756
)
Total Income Before Income Taxes
$
93,672

 
$
79,521

 
$
251,921

 
$
216,311

 
Three months ended
 
Nine months ended
NET INCOME:
September 30,
 
September 30,
(in thousands)
2013
 
2012
 
2013
 
2012
Regulated Operating Subsidiaries
$
82,291

 
$
69,537

 
$
234,168

 
$
190,576

ITC Holdings and other
58,984

 
51,183

 
156,569

 
139,620

Intercompany eliminations
(82,291
)
 
(69,537
)
 
(234,168
)
 
(190,576
)
Total Net Income
$
58,984

 
$
51,183

 
$
156,569

 
$
139,620

TOTAL ASSETS:
September 30,
 
December 31,
(in thousands)
2013
 
2012
Regulated Operating Subsidiaries
$
6,028,346

 
$
5,440,401

ITC Holdings and other
3,556,794

 
3,252,047

Reconciliations / Intercompany eliminations (a)
(3,412,740
)
 
(3,127,639
)
Total Assets
$
6,172,400

 
$
5,564,809

____________________________
(a)
Reconciliation of total assets results primarily from differences in the netting of deferred tax assets and liabilities at our Regulated Operating Subsidiaries as compared to the classification in our condensed consolidated statements of financial position.