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Non-Controlling Interests (Tables)
 12 Months Ended
Dec. 31, 2018
Interests In Other Entities [Abstract]  
Share of ownership and equity participation in TransAlta Renewables
The Corporation’s subsidiaries and operations that have non-controlling interests are as follows:
Subsidiary/Operation
Non-controlling interest as at Dec. 31, 2018
TransAlta Cogeneration L.P.
49.99% - Canadian Power Holdings Inc.
TransAlta Renewables
39.1% - Public shareholders
Kent Hills Wind LP(1)
17% - Natural Forces Technologies Inc.
 (1) Owned by TransAlta Renewables.
Subsidiaries and operations with non-controlling interests
As a result of the conversion of Class B shares, the DRIP and the transactions described in Note 4, the Corporation’s share of ownership and equity participation in TransAlta Renewables has fluctuated since its formation as follows:
Period
Ownership and voting
rights percentage
Equity participation
percentage
April 29, 2014 to May 6, 2015
70.3
70.3
May 7, 2015 to Nov. 25, 2015
76.1
72.8
Nov. 26, 2015 to Jan. 5, 2016
66.6
62.0
Jan. 6, 2016 to July 31, 2017
64.0
59.8
Aug. 1, 2017 to June 21, 2018
64.0
64.0
June 22, 2018 to July 30, 2018
61.1
61.1
July 31, 2018 to Nov. 29, 2018
61.0
61.0
Nov. 30, 2018 to Dec. 31, 2018
60.9
60.9
Disclosure of interests in subsidiaries
Year ended Dec. 31
2018

2017

2016

Revenues
462

459

259

Net earnings
241

13

1

Total comprehensive income
281

(24
)
40

Amounts attributable to the non-controlling interests:
 
 

 

Net earnings
94

11

2

Total comprehensive income
110

—

18

Distributions paid to non-controlling interests
79

85

83

As at Dec. 31
2018

2017

Current assets
250

145

Long-term assets
3,497

3,483

Current liabilities
(159
)
(356
)
Long-term liabilities
(1,192
)
(1,075
)
Total equity
(2,396
)
(2,197
)
Equity attributable to non-controlling interests
(961
)
(812
)
Non-controlling interests’ share (per cent)
39.1

36.0

B. TA Cogen
Year ended Dec. 31
2018

2017

2016

Results of operations
 

 

 

Revenues
185

175

274

Net earnings
29

61

211

Total comprehensive income
29

61

258

Amounts attributable to the non-controlling interest:
 

 

 

Net earnings
14

31

105

Total comprehensive income
14

31

128

Distributions paid to Canadian Power Holdings Inc.
86

87

68

As at Dec. 31
2018

2017

Current assets
82

193

Long-term assets
354

404

Current liabilities
(54
)
(73
)
Long-term liabilities
(28
)
(26
)
Total equity
(354
)
(498
)
Equity attributable to Canadian Power Holdings Inc.
(176
)
(247
)
Non-controlling interest share (per cent)
49.99

49.99

Details of the Corporation’s principal operating subsidiaries at Dec. 31, 2018, are as follows:
Subsidiary
Country
Ownership
(per cent)
Principal activity
TransAlta Generation Partnership
Canada
100
Generation and sale of electricity
TransAlta Cogeneration, L.P.
Canada
50.01
Generation and sale of electricity
TransAlta Centralia Generation, LLC
US
100
Generation and sale of electricity
TransAlta Energy Marketing Corp.
Canada
100
Energy marketing
TransAlta Energy Marketing (U.S.), Inc.
US
100
Energy marketing
TransAlta Energy (Australia), Pty Ltd.
Australia
100
Generation and sale of electricity
TransAlta Renewables Inc.
Canada
60.9
Generation and sale of electricity