Mergers and Acquisitions (Tables)

12 Months Ended

Dec. 31, 2015

Pro Forma Impact of Acquisition	For the year ended Dec. 31,
(millions, except per share amounts)	2014		2013
Revenues	$	2,806.6	$	2,704.0
Net income from continuing operations		223.8		216.8
Basic and diluted EPS from continuing operations		0.96		0.93

After-tax transaction and integration charges recognized in connection with the acquisition

The following after-tax transaction and integration charges were recognized in connection with the acquisition and are included in the TECO Energy Consolidated Statement of Income for the years ended Dec. 31, 2015 and 2014.

Transaction and Integration Costs	For the year ended Dec. 31,
(millions)	2015		2014
Legal and other consultants	$	0.5	$	8.0
Bridge loan costs		0.0		3.3
Severance and relocation costs		1.0		2.8
Other costs and tax benefit		0.4		(5.5	)
Total accounting charges	$	1.9	$	8.6

NMGI [Member]

Consideration in Acquisition

The total consideration in the acquisition was as follows:

Consideration Transferred

(millions)
Cash paid to seller	$	530.1
Cash paid to settle long-term debt, including accrued interest and fees		219.9
Long-term debt assumed		200.0
Total consideration transferred, excluding cash and working capital adjustments	$	950.0

NMGI and NMGC [Member]

Purchase Price Allocation

The final purchase price allocation of the acquisition of NMGI and NMGC was as follows:

Purchase Price Allocation
(millions)
Current assets ⁽¹⁾	$	48.7
Property, plant and equipment		616.4
OPEB regulatory asset		6.4
Debt-related regulatory asset		23.9
Goodwill		408.4
Deferred tax assets		52.8
Other assets		29.3
Total assets	$	1,185.9
Current liabilities	$	(38.2	)
Long-term debt fair value adjustment and interest assumed		(22.7	)
Cost of removal regulatory liability		(100.6	)
Deferred tax liabilities		(60.8	)
OPEB liability		(9.8	)
Deferred credits and other liabilities		(3.8	)
Total liabilities	$	(235.9	)
Total purchase price allocation, excluding cash and working capital adjustments	$	950.0

(1)	Includes accounts receivables with fair value of $18.9 million, gross contract value of $19.6 million, and $0.7 million of contractual receivables not expected to be collected.