Investment in ATC

9 Months Ended

Sep. 30, 2015

Equity Method Investments and Joint Ventures [Abstract]

INVESTMENT IN ATC

INVESTMENT IN ATC

Due to the acquisition of Integrys on June 29, 2015, our ownership of ATC increased from 26.2% to approximately 60%. ATC is a for-profit, transmission-only company regulated by the FERC. The following table shows changes to our investment in ATC:

	Three Months Ended September 30				Nine Months Ended September 30
(in millions)	2015		2014		2015		2014
Balance at beginning of period	$	987.8	$	416.8	$	424.1	$	402.7
Add: Earnings from equity method investment	40.0		18.0		70.4		52.8
Add: Capital contributions	3.0		2.6		5.5		10.4
Add: Acquisition of Integrys's investment in ATC	—		—		552.0		—
Less: Distributions received	31.4		14.1		52.6		42.6
Balance at end of period	$	999.4	$	423.3	$	999.4	$	423.3

Summarized financial data for ATC is included in the following tables:

	Three Months Ended September 30				Nine Months Ended September 30
(in millions)	2015		2014		2015		2014
Income statement data
Revenues	$	164.5	$	163.7	$	482.0	$	487.0
Operating expenses	78.0		76.6		238.3		229.6
Other expense	23.1		21.6		71.7		65.1
Net income	$	63.4	$	65.5	$	172.0	$	192.3

(in millions)	September 30, 2015		December 31, 2014
Balance sheet data
Current assets	$	80.8	$	66.4
Noncurrent assets	3,900.9		3,728.7
Total assets	$	3,981.7	$	3,795.1
Current liabilities	$	294.8	$	313.1
Long-term debt	1,800.0		1,701.0
Other noncurrent liabilities	207.1		163.8
Shareholders' equity	1,679.8		1,617.2
Total liabilities and shareholders' equity	$	3,981.7	$	3,795.1