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INVESTMENT IN AMERICAN TRANSMISSION COMPANY (Tables) - ATC | 9 Months Ended
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Sep. 30, 2017
Investment in ATC |
Schedule of changes to our investment in ATC | The following table shows changes to our investment in ATC:
|  | Three Months Ended September 30 |  | Nine Months Ended September 30
(in millions) |  | 2017 |  | 2016 |  | 2017 |  | 2016
Balance at beginning of period |  | $ | 1,544.0 |  |  | $ | 1,425.0 |  |  | $ | 1,443.9 |  |  | $ | 1,380.9 |  |
Add: Earnings from equity method investment |  | 39.2 |  |  | 38.3 |  |  | 122.9 |  |  | 107.7 |  |
Add: Capital contributions |  | 12.8 |  |  | 15.0 |  |  | 63.3 |  |  | 27.1 |  |
Add: Acquisition of Integrys's investment in ATC |  | — |  |  | — |  |  | — |  |  | (1.0 | ) | (1)
Add: Adjustment to equity method goodwill |  | — |  |  | — |  |  | — |  |  | 10.4 |  |
Less: Distributions |  | 35.2 |  |  | 25.2 |  |  | 69.2 |  | (2) | 71.9 |  |
Less: Other |  | — |  |  | — |  |  | 0.1 |  |  | 0.1 |  |
Balance at end of period |  | $ | 1,560.8 |  |  | $ | 1,453.1 |  |  | $ | 1,560.8 |  |  | $ | 1,453.1 |  |
(1) | Amount reflects an adjustment to the allocation of the purchase price for Integrys made in the second quarter of 2016.
(2) | Distributions of $35.2 million, received in the first quarter of 2017, were approved and recorded in December 2016
Schedule of significant transactions with ATC | The following table summarizes our significant related party transactions with ATC:
|  | Three Months Ended September 30 |  | Nine Months Ended September 30
(in millions) |  | 2017 |  | 2016 |  | 2017 |  | 2016
Charges to ATC for services and construction |  | $ | 4.4 |  |  | $ | 4.4 |  |  | $ | 12.3 |  |  | $ | 12.8 |
Charges from ATC for network transmission services |  | 87.4 |  |  | 89.3 |  |  | 262.0 |  |  | 271.4 |
Refund from ATC per FERC ROE order |  | — |  |  | — |  |  | (28.3 | ) |  | — |
Schedule of receivables and payables with ATC | Our balance sheets included the following receivables and payables related to ATC:
(in millions) |  | September 30, 2017 |  | December 31, 2016
Accounts receivable |  |  |  |
Services provided to ATC |  | $ | 1.5 |  |  | $ | 2.2 |
Accounts payable |  |  |  |
Services received from ATC |  | 29.1 |  |  | 28.7 |
Schedule of summarized income statement data for ATC | Summarized financial data for ATC is included in the following tables:
|  | Three Months Ended September 30 |  | Nine Months Ended September 30
(in millions) |  | 2017 |  | 2016 |  | 2017 |  | 2016
Income statement data |  |  |  |  |  |  |  |
Revenues |  | $ | 171.1 |  |  | $ | 158.1 |  |  | $ | 522.4 |  |  | $ | 476.6 |
Operating expenses |  | 85.0 |  |  | 80.2 |  |  | 250.1 |  |  | 241.0 |
Other expense |  | 27.5 |  |  | 23.5 |  |  | 79.6 |  |  | 71.2 |
Net income |  | $ | 58.6 |  |  | $ | 54.4 |  |  | $ | 192.7 |  |  | $ | 164.4 |
Schedule of summarized balance sheet data for ATC |
(in millions) |  | September 30, 2017 |  | December 31, 2016
Balance sheet data |  |  |  |
Current assets |  | $ | 89.0 |  |  | $ | 75.8 |
Noncurrent assets |  | 4,564.9 |  |  | 4,312.9 |
Total assets |  | $ | 4,653.9 |  |  | $ | 4,388.7 |
Current liabilities |  | $ | 772.1 |  |  | $ | 495.1 |
Long-term debt |  | 1,740.8 |  |  | 1,865.3 |
Other noncurrent liabilities |  | 213.8 |  |  | 271.5 |
Shareholders' equity |  | 1,927.2 |  |  | 1,756.8 |
Total liabilities and shareholders' equity |  | $ | 4,653.9 |  |  | $ | 4,388.7 |

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