PROPERTY, PLANT, AND EQUIPMENT

Property, plant, and equipment consisted of the following utility and non-utility assets at December 31:



(in millions)	2018		2017
Electric – generation	$	2,831.2	$	2,624.9
Electric – distribution	1,510.0		1,361.9
Natural gas – distribution, storage, and transmission	910.6		846.4
Property, plant, and equipment to be retired	—		57.9
Other	351.9		287.6
Less: Accumulated depreciation	1,620.1		1,479.1
Net	3,983.6		3,699.6
CWIP	166.0		121.4
Net utility property, plant, and equipment	4,149.6		3,821.0

Non-utility property, plant, and equipment	0.9		2.3
Less: Accumulated depreciation	0.4		0.4
Net	0.5		1.9
CWIP	—		0.1
Net non-utility property, plant, and equipment	0.5		2.0

Total property, plant, and equipment	$	4,150.1	$	3,823.0

Utility Segment Plant to be Retired

We have evaluated future plans for our older and less efficient fossil fuel generating units and have retired our plants identified below. In December 2017, a severance liability in the amount of $3.6 million was recorded in other current liabilities related to these plant retirements.



(in millions)
Severance liability at December 31, 2017	$	3.6
Severance payments	(0.8		)
Total severance liability at December 31, 2018	$	2.8

Pulliam Power Plant

In connection with a MISO ruling, we retired Pulliam Units 7 and 8 effective October 21, 2018. The carrying value of the Pulliam units was $33.8 million at December 31, 2018. This amount included the net book value of $57.2 million at December 31, 2018, which was classified as a regulatory asset on our balance sheet. In addition, a $23.4 million cost of removal reserve related to the Pulliam units was classified as a regulatory liability at December 31, 2018. We continue to amortize this regulatory asset on a straight-line basis using the composite depreciation rates approved by the PSCW before these generating units were retired. Amortization is included in depreciation and amortization in the income statement. We have FERC approval to continue to collect the carrying value of the Pulliam power plant using the approved composite depreciation rates, in addition to a return on the remaining carrying value. FERC has completed its prudency review of Pulliam, concluding that the retirement of this plant was prudent. We will address the accounting and regulatory treatment related to the retirement of the Pulliam power plant with the PSCW in conjunction with our anticipated 2019 rate case. See Note 19, Commitments and Contingencies, for more information.

Edgewater Unit 4

The Edgewater 4 generating unit was retired effective September 28, 2018. The carrying value of the generating unit was $8.1 million at December 31, 2018. This amount included the net book value of our ownership share of this generating unit of $10.0 million, which was classified as a regulatory asset on our balance sheet. In addition, a $1.9 million cost of removal reserve related to the Edgewater 4 generating unit was classified as a regulatory liability at December 31, 2018. We continue to amortize this regulatory asset on a straight-line basis using the composite depreciation rates approved by the PSCW before this generating unit was retired. Amortization is included in depreciation and amortization in the income statement. We have FERC approval to continue to collect the carrying value of the Edgewater 4 generating unit using the approved composite depreciation rates, in addition to a return on the remaining carrying value. FERC has completed its prudency review of Edgewater 4, concluding that the retirement of this plant was prudent. We will address the accounting and regulatory treatment related to the retirement of the Edgewater 4 generating unit with the PSCW in conjunction with our anticipated 2019 rate case. See Note 19, Commitments and Contingencies, for more information.