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SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2017
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. During the second quarter of 2016, ITC Interconnection became a transmission owner in the FERC-approved RTO, PJM Interconnection. As a result, the newly regulated transmission business at ITC Interconnection is included in the Regulated Operating Subsidiaries, starting June 1, 2016. The following tables show our financial information by reportable segment:
 
 
Three months ended
OPERATING REVENUES:
 
March 31,
(in millions)
 
2017
 
2016
Regulated Operating Subsidiaries
 
$
305

 
$
280

Intercompany eliminations
 
(7
)
 
—

Total Operating Revenues
 
$
298

 
$
280

 
Three months ended
INCOME (LOSS) BEFORE INCOME TAXES:
March 31,
(in millions)
2017
 
2016
Regulated Operating Subsidiaries
$
162

 
$
153

ITC Holdings and other
(35
)
 
(49
)
Total Income Before Income Taxes
$
127

 
$
104

 
Three months ended
NET INCOME:
March 31,
(in millions)
2017
 
2016
Regulated Operating Subsidiaries
$
99

 
$
94

ITC Holdings and other
80

 
65

Intercompany eliminations
(99
)
 
(94
)
Total Net Income
$
80

 
$
65

TOTAL ASSETS:
March 31,
 
December 31,
(in millions)
2017
 
2016
Regulated Operating Subsidiaries
$
8,355

 
$
8,162

ITC Holdings and other
4,589

 
4,503

Reconciliations / Intercompany eliminations (a)
(4,524
)
 
(4,442
)
Total Assets
$
8,420

 
$
8,223

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