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Investment in American Transmission Company | 12 Months Ended
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Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract] |
INVESTMENT IN AMERICAN TRANSMISSION COMPANY | INVESTMENT IN AMERICAN TRANSMISSION COMPANY Due to the acquisition of Integrys, our ownership of ATC increased from 26.2% to approximately 60%. ATC is a for-profit, transmission-only company regulated by the FERC and certain state regulatory commissions. We have one representative on ATC's ten-member board of directors. Each member of the board has only one vote. Due to voting requirements, no individual board member has more than 10% of the voting control. The following table shows changes to our investment in ATC during the years ended December 31:
(in millions) |  | 2016 |  | 2015 |  | 2014
Balance at beginning of period |  | $ | 1,380.9 |  |  | $ | 424.1 |  |  | $ | 402.7 |
Add: Earnings from equity method investment |  | 146.5 |  |  | 96.1 |  |  | 66.0 |
Add: Capital contributions |  | 42.3 |  |  | 8.7 |  |  | 13.1 |
Add: Acquisition of Integrys's investment in ATC |  | (1.0 | ) |  | 541.5 |  |  | — |
Add: Equity method goodwill from the acquisition of Integrys (1) |  | 10.4 |  |  | 395.8 |  |  | — |
Less: Distributions |  | 135.1 |  | (2) | 85.1 |  |  | 57.5 |
Less: Other |  | 0.1 |  |  | 0.2 |  |  | 0.2 |
Balance at end of period |  | $ | 1,443.9 |  |  | $ | 1,380.9 |  |  | $ | 424.1 |
(1) | Represents the purchase price allocated to Integrys's investment in ATC in excess of the recorded value.
(2) | Of this amount, $35.2 million was recorded as a receivable at December 31, 2016.
We pay ATC for transmission and other related services it provides. In addition, we provide a variety of operational, maintenance, and project management work for ATC, which are reimbursed by ATC. We are required to pay the cost of needed transmission infrastructure upgrades for new generation projects while the projects are under construction. ATC reimburses us for these costs when the new generation is placed in service. The following table summarizes our significant related party transactions with ATC during the years ended December 31:
(in millions) |  | 2016 |  | 2015 |  | 2014
Charges to ATC for services and construction |  | $ | 18.5 |  |  | $ | 15.4 |  |  | $ | 8.1 |
Charges from ATC for network transmission services |  | 357.3 |  |  | 289.2 |  |  | 231.4 |
As of December 31, 2016 and 2015, our balance sheets included the following receivables and payables related to ATC:
(in millions) |  | 2016 |  | 2015
Accounts receivable |  |  |  |
Services provided to ATC |  | $ | 2.2 |  |  | $ | 1.0 |
Accounts payable |  |  |  |
Services received from ATC |  | 28.7 |  |  | 28.3 |
Summarized financial data for ATC is included in the tables below:
(in millions) |  | 2016 |  | 2015 |  | 2014
Income statement data |  |  |  |  |  |
Revenues |  | $ | 650.8 |  |  | $ | 615.8 |  |  | $ | 635.0 |
Operating expenses |  | 322.5 |  |  | 319.3 |  |  | 307.4 |
Other expense |  | 95.5 |  |  | 96.1 |  |  | 88.9 |
Net income |  | $ | 232.8 |  |  | $ | 200.4 |  |  | $ | 238.7 |
(in millions) |  | December 31, 2016 |  | December 31, 2015
Balance sheet data |  |  |  |
Current assets |  | $ | 75.8 |  |  | $ | 80.5 |
Noncurrent assets |  | 4,312.9 |  |  | 3,948.3 |
Total assets |  | $ | 4,388.7 |  |  | $ | 4,028.8 |
Current liabilities |  | $ | 495.1 |  |  | $ | 330.3 |
Long-term debt |  | 1,865.3 |  |  | 1,790.7 |
Other noncurrent liabilities |  | 271.5 |  |  | 245.0 |
Shareholders' equity |  | 1,756.8 |  |  | 1,662.8 |
Total liabilities and shareholders' equity |  | $ | 4,388.7 |  |  | $ | 4,028.8 |

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66011266&loc=d3e33918-111571 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=64825282&loc=d3e32847-111569 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=64825282&loc=d3e32787-111569 + Details
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