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Variable Interest Entities | 3 Months Ended
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Mar. 31, 2022
Variable Interest Entities [Abstract] |
Variable Interest Entities | Variable Interest Entities A VIE is an entity in which the controlling interest is determined through means other than a majority voting interest. We control decisions that are significant to Rosewater and Indiana Crossroads Wind's ongoing operations and economic results. Therefore, we have concluded that we are the primary beneficiary and have consolidated both. Members of the respective joint ventures are NIPSCO (who is the managing member) and tax equity partners. Earnings, tax attributes and cash flows are allocated to both NIPSCO and the tax equity partner in varying percentages by category and over the life of the partnership. Once the tax equity partner has earned their negotiated rate of return and we have reached the agreed upon contractual date, NIPSCO has the option to purchase at fair market value from the tax equity partner the remaining interest in the respective joint venture. NIPSCO has an obligation to purchase, through a PPA at established market rates, 100% of the electricity generated by the joint ventures. Rosewater Rosewater owns and operates 102 MW of nameplate capacity wind generation assets. NIPSCO and the tax equity partner have made total contributions of $170.1 million, per the equity capital contribution agreement. NIPSCO and the tax equity partner contributed cash and NIPSCO also assumed an obligation to the developer of the wind generation assets representing the remaining economic interest, which comes due in 2023. The developer of the facility is not a partner in the joint venture for federal income tax purposes and does not receive any share of earnings, tax attributes, or cash flows of Rosewater. Indiana Crossroads Wind Indiana Crossroads Wind owns and operates 302 MW of nameplate capacity wind generation assets. NIPSCO and the tax equity partner have made total contributions of $511.8 million, per the equity capital contribution agreement. NIPSCO and the tax equity partner contributed cash and NIPSCO also assumed an obligation to the developer of the wind generation assets representing the remaining economic interest, which comes due in 2023. The developer of the facility is not a partner in the joint venture for federal income tax purposes and does not receive any share of earnings, tax attributes, or cash flows of Indiana Crossroads Wind. The following table displays the Noncontrolling interest in consolidated subsidiaries included in the Condensed Consolidated Balance Sheets (unaudited):
(in millions) | March 31, 2022 |  | December 31, 2021
Rosewater | $ | 88.8 |  |  | $ | 88.2 |
Indiana Crossroads Wind | 240.7 |  | 237.4 |
Total | $ | 329.5 |  |  | $ | 325.6 |
The following table displays the Net income attributable to noncontrolling interest included in the Condensed Statements of Consolidated Income (unaudited):
| Three Months Ended March 31,
(in millions) | 2022 |  | 2021
Rosewater | $ | 1.1 |  |  | $ | 1.0 |
Indiana Crossroads Wind | 3.4 |  |  | — |
Total | $ | 4.5 |  |  | $ | 1.0 |
We did not provide any financial or other support during the quarter that was not previously contractually required, nor do we expect to provide such support in the future. Our Condensed Consolidated Balance Sheets (unaudited) included the following assets and liabilities associated with VIEs.
(in millions) | March 31, 2022 |  | December 31, 2021
| Rosewater |  | Indiana Crossroads Wind |  | Rosewater |  | Indiana Crossroads Wind
Net Property, Plant and Equipment | $ | 168.7 |  |  | $ | 521.7 |  |  | $ | 170.1 |  |  | $ | 525.8 |
Current assets | 8.8 |  |  | 18.6 |  |  | 6.2 |  |  | 8.1 |
Total assets(1) | 177.5 |  |  | 540.3 |  |  | 176.3 |  |  | 533.9 |
Current liabilities | 4.3 |  |  | 12.4 |  |  | 2.5 |  |  | 7.5 |
Asset retirement obligations | 5.7 |  |  | 14.9 |  |  | 5.7 |  |  | 14.8 |
Total liabilities | $ | 10.0 |  |  | $ | 27.3 |  |  | $ | 8.2 |  |  | $ | 22.3 |
(1)The assets of Rosewater and Indiana Crossroads represent assets of a consolidated VIE that can be used only to settle obligations of the respective consolidated VIE. The creditors of the liabilities of Rosewater and Indiana Crossroads do not have recourse, to the general credit of the primary beneficiary.

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- Definition Variable Interest Entities + References No definition available. + Details
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- Definition The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI http://asc.fasb.org/topic&trid=2197479 + Details
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