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INVESTMENT IN TRANSMISSION AFFILIATES (Tables) | 9 Months Ended
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Sep. 30, 2021
Investment in transmission affiliates |
Schedule of changes to our investments in transmission affiliates | The following tables provide a reconciliation of the changes in our investments in ATC and ATC Holdco:
|  | Three Months Ended September 30, 2021
(in millions) |  | ATC |  | ATC Holdco |  | Total
Balance at beginning of period |  | $ | 1,749.7 |  |  | $ | 32.3 |  |  | $ | 1,782.0 |
Add: Earnings from equity method investment |  | 41.7 |  |  | 0.6 |  |  | 42.3 |
Less: Distributions |  | 33.0 |  |  | — |  |  | 33.0 |
Balance at end of period |  | $ | 1,758.4 |  |  | $ | 32.9 |  |  | $ | 1,791.3 |
|  | Three Months Ended September 30, 2020
(in millions) |  | ATC |  | ATC Holdco |  | Total
Balance at beginning of period |  | $ | 1,713.3 |  |  | $ | 31.4 |  |  | $ | 1,744.7 |
Add: Earnings from equity method investment |  | 39.6 |  |  | 0.5 |  |  | 40.1 |
Add: Capital contributions |  | 6.2 |  |  | — |  |  | 6.2 |
Less: Distributions |  | 39.9 |  |  | — |  |  | 39.9 |
Less: Return of capital |  | — |  |  | 0.6 |  |  | 0.6 |
Less: Other |  | 0.1 |  |  | — |  |  | 0.1 |
Balance at end of period |  | $ | 1,719.1 |  |  | $ | 31.3 |  |  | $ | 1,750.4 |
|  | Nine Months Ended September 30, 2021
(in millions) |  | ATC |  | ATC Holdco |  | Total
Balance at beginning of period |  | $ | 1,733.5 |  |  | $ | 30.8 |  |  | $ | 1,764.3 |
Add: Earnings from equity method investment |  | 124.1 |  |  | 2.1 |  |  | 126.2 |
Less: Distributions |  | 99.2 |  |  | — |  |  | 99.2 |
Balance at end of period |  | $ | 1,758.4 |  |  | $ | 32.9 |  |  | $ | 1,791.3 |
|  | Nine Months Ended September 30, 2020
(in millions) |  | ATC |  | ATC Holdco |  | Total
Balance at beginning of period |  | $ | 1,684.7 |  |  | $ | 36.1 |  |  | $ | 1,720.8 |
Add: Earnings from equity method investment |  | 131.7 |  |  | 1.1 |  |  | 132.8 |
Add: Capital contributions |  | 15.2 |  |  | — |  |  | 15.2 |
Less: Distributions |  | 112.5 |  |  | — |  |  | 112.5 |
Less: Return of capital |  | — |  |  | 5.9 |  |  | 5.9 |
Balance at end of period |  | $ | 1,719.1 |  |  | $ | 31.3 |  |  | $ | 1,750.4 |
ATC |
Investment in transmission affiliates |
Schedule of significant related party 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) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Charges to ATC for services and construction |  | $ | 5.5 |  |  | $ | 5.7 |  |  | $ | 17.2 |  |  | $ | 18.7 |
Charges from ATC for network transmission services |  | 90.3 |  |  | 87.8 |  |  | 270.7 |  |  | 262.7 |
Net refund from ATC related to FERC ROE orders |  | 8.7 |  |  | 2.3 |  |  | 7.4 |  |  | 10.7 |
Schedule of receivables and payables with ATC | Our balance sheets included the following receivables and payables for services provided to or received from ATC:
(in millions) |  | September 30, 2021 |  | December 31, 2020
Accounts receivable for services provided to ATC |  | $ | 2.1 |  |  | $ | 3.7 |
Accounts payable for services received from ATC |  | 26.9 |  |  | 29.3 |
Amounts due from ATC for transmission infrastructure upgrades (1) |  | 8.9 |  |  | 4.6 |
(1)The transmission infrastructure upgrades were primarily related to WE's and WPS's construction of their new solar projects, Badger Hollow II and Badger Hollow I, respectively.
Schedule of summarized income statement data for ATC | Summarized financial data for ATC is included in the tables below:
|  | Three Months Ended September 30 |  | Nine Months Ended September 30
(in millions) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Income statement data |  |  |  |  |  |  |  |
Operating revenues |  | $ | 186.8 |  |  | $ | 187.8 |  |  | $ | 561.4 |  |  | $ | 577.7 |
Operating expenses |  | 91.3 |  |  | 93.0 |  |  | 278.8 |  |  | 285.7 |
Other expense, net |  | 28.6 |  |  | 28.1 |  |  | 85.2 |  |  | 82.0 |
Net income |  | $ | 66.9 |  |  | $ | 66.7 |  |  | $ | 197.4 |  |  | $ | 210.0 |
Schedule of summarized balance sheet data for ATC |
(in millions) |  | September 30, 2021 |  | December 31, 2020
Balance sheet data |  |  |  |
Current assets |  | $ | 87.0 |  |  | $ | 92.7 |
Noncurrent assets |  | 5,539.8 |  |  | 5,400.6 |
Total assets |  | $ | 5,626.8 |  |  | $ | 5,493.3 |
Current liabilities |  | $ | 483.0 |  |  | $ | 310.8 |
Long-term debt |  | 2,412.8 |  |  | 2,512.2 |
Other noncurrent liabilities |  | 398.9 |  |  | 378.2 |
Members' equity |  | 2,332.1 |  |  | 2,292.1 |
Total liabilities and members' equity |  | $ | 5,626.8 |  |  | $ | 5,493.3 |

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