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REGULATORY MATTERS
 6 Months Ended
Jun. 30, 2017
Regulatory Assets and Liabilities Disclosure [Abstract]  
REGULATORY MATTERS

5. REGULATORY MATTERS

Regulatory Accounting

Due to over or under recovery adjustments made in accordance with the Federal Energy Regulatory Commission (FERC), authoritative guidance and our cost-of-service recovery model, we recognize assets and liabilities for regulatory purposes. The assets and liabilities that we recognize for regulatory purposes are recorded on a net basis in “Other current assets” or “Accounts payable and other,” respectively, on our consolidated statements of financial position. These regulatory assets and liabilities are amortized on a straight-line basis over a one-year recovery period. Our over and under recovery revenue adjustments and net regulatory asset amortization for the three and six months ended June 30, 2017 and 2016 are as follows:
 
 
 
Three months
ended June 30,
 
Six months
ended June 30,
  
 
2017
 
2016
 
2017
 
2016
  
 
(in millions)
Net regulatory asset (liability) balance at beginning of period
 
$
(34.1
) 
 
$
31.2
 
 
$
11.9
 
 
$
29.9
 
Current period (over) under recovery revenue adjustments
 
 
12.0
 
 
 
5.9
 
 
 
(27.0
) 
 
 
13.6
 
Amortization of prior year regulatory asset
 
 
(1.6
) 
 
 
(7.8
) 
 
 
(8.6
) 
 
 
(14.2
) 
Net regulatory asset (liability) balance at end of period
 
$
(23.7
) 
 
$
29.3
 
 
$
(23.7
) 
 
$
29.3