v3.3.0.814

INVESTMENTS | 9 Months Ended
--- | ---
Sep. 30, 2015
Investments [Abstract] |
INVESTMENTS |
15. | INVESTMENTS
We own a 50 percent interest in several manufacturing joint ventures in both our building products and chlorovinyls segments. In our chlorovinyls segment, we have a 50 percent ownership interest in RS Cogen, LLC (“RS Cogen”), which produces electricity and steam that are primarily sold to Axiall and its joint venture partner under take‑or‑pay contracts with terms that extend to 2022 and is reported in our chlorovinyls segment. The joint venture was formed with a wholly‑owned subsidiary of Entergy Corporation (“Entergy”) in 2000 for the construction and operation of a 425 megawatt combined cycle, natural gas‑fired cogeneration facility in Lake Charles, Louisiana, the majority of which was financed by loans having terms that extend to 2022 from a syndicate of banks. Axiall’s future commitment to purchase electricity and steam from the joint venture per the take‑or‑pay contracts approximates $23.5 million per year subject to contractually defined inflation adjustments. As of September 30, 2015, our future commitment under the take‑or‑pay arrangement approximates $167.1 million in the aggregate, with purchases during the three and nine months ended September 30, 2015 totaling $6.5 million and $19.4 million, respectively, compared to purchases of $6.3 million and $18.7 million during the three and nine months ended September 30, 2014, respectively. RS Cogen is a variable interest entity under GAAP. The daily operations of the cogeneration facility are the activities of RS Cogen that most significantly impact its economic performance. These activities are directed by a management team with oversight by a management committee that has equal representation from Axiall and Entergy. By the terms of the joint venture agreement, all decisions of the management committee require approval by a majority of its members. Accordingly, the power to direct the activities of RS Cogen is equally shared between RS Cogen’s two owners and, thus, Axiall does not consider itself to be the joint venture’s primary beneficiary. Accordingly, Axiall accounts for its investment in RS Cogen under the equity method of accounting. We have recorded our investment in RS Cogen in other assets in the accompanying unaudited condensed consolidated balance sheets and our share of investee earnings in cost of goods sold in the unaudited condensed consolidated statements of operations. The following table summarizes our maximum exposure to loss associated with RS Cogen as of September 30, 2015 and December 31, 2014:
|  | September 30, |  |  | December 31, |
(In millions) |  | 2015 |  |  | 2014 |
Investment in and net advances to RS Cogen |  | $ | 12.1 |  |  | $ | 4.6 |
Supply contracts |  |  | 37.0 |  |  |  | 38.5 |
Maximum exposure to loss |  | $ | 49.1 |  |  | $ | 43.1 |
We produce chlorine, caustic soda, hydrogen, hydrochloric acid (“HCL”) and sodium hypochlorite (bleach) at our Kaohsiung, Taiwan facility. The Kaohsiung, Taiwan facility is operated by Taiwan Chlorine Industries, Ltd. (“TCI”), a joint venture in which we own a 60 percent interest and consolidate in our unaudited condensed consolidated financial statements in our chlorovinyls segment. The following table presents a reconciliation of our minority partner’s ownership interest, reported as noncontrolling interest:
|  | Nine Months Ended September 30, |
(In millions) |  | 2015 |  |  | 2014 |
Noncontrolling interest - beginning of period |  | $ | 107.9 |  |  | $ | 119.4 |
Net income (loss) attributable to noncontrolling interest |  |  | (19.8 | ) |  |  | 2.5 |
Other comprehensive loss attributable to noncontrolling interest |  |  | (3.8 | ) |  |  | (3.2 | )
Distribution to noncontrolling interest |  |  | (8.4 | ) |  |  | (7.7 | )
Noncontrolling interest - end of period |  | $ | 75.9 |  |  | $ | 111.0 |

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the information summarizing investments in and advances to majority-owned subsidiaries, other controlled companies, and other affiliates. It reflects specified information about ownership, financial results from, and financial position in such entities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611322-123010 + Details
Name: | us-gaap_InvestmentsInAndAdvancesToAffiliatesScheduleOfInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration