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Investment in American Transmission Company
 9 Months Ended
Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]  
INVESTMENT IN AMERICAN TRANSMISSION COMPANY
INVESTMENT IN AMERICAN TRANSMISSION COMPANY

Due to the acquisition of Integrys on June 29, 2015, our ownership of ATC increased from 26.2% to approximately 60%. ATC is a for-profit, electric transmission company regulated by the FERC and certain state regulatory commissions. The following table shows changes to our investment in ATC:
 
 
Three Months Ended September 30
 
Nine Months Ended September 30
(in millions)
 
2016
 
2015
 
2016
 
2015
Balance at beginning of period
 
$
1,425.0

 
$
987.8

 
$
1,380.9

(1) 
$
424.1

Add: Earnings from equity method investment
 
38.3

 
40.0

 
107.7

 
70.4

Add: Capital contributions
 
15.0

 
3.0

 
27.1

 
5.5

Add: Acquisition of Integrys's investment in ATC
 
—

 
—

 
(1.0
)
(2) 
552.0

Add: Adjustment to equity method goodwill
 
—

 
—

 
10.4

 
—

Less: Distributions received
 
25.2

 
31.4

 
71.9

 
52.6

Less: Other
 
—

 
—

 
0.1

 
—

Balance at end of period
 
$
1,453.1

 
$
999.4

 
$
1,453.1

 
$
999.4


(1) 
Equity method goodwill of $395.8 million from the acquisition of Integrys was recorded in the fourth quarter of 2015.

(2) 
Amount reflects an adjustment to the allocation of the purchase price made in the second quarter of 2016.

We pay ATC for transmission and other related services it provides. In addition, we provide a variety of operational, maintenance, and project management work for ATC, for which we are reimbursed by ATC. We are required to pay the cost of needed transmission infrastructure upgrades for new generation projects while the projects are under construction. ATC reimburses us for these costs when the new generation is placed in service.

The following table summarizes our significant related party transactions with ATC:
 
 
Three Months Ended September 30
 
Nine Months Ended September 30
(in millions)
 
2016
 
2015
 
2016
 
2015
Charges to ATC for services and construction
 
$
4.4

 
$
5.5

 
$
12.8

 
$
10.5

Charges from ATC for network transmission services
 
89.3

 
82.2

 
271.4

 
201.4



Our balance sheets included the following receivables and payables related to ATC:
(in millions)
 
September 30, 2016
 
December 31, 2015
Accounts receivable
 
 
 
 
Services provided to ATC
 
$
1.5

 
$
1.0

Accounts payable
 
 
 
 
Services received from ATC
 
30.1

 
28.3



Summarized financial data for ATC is included in the following tables:
 
 
Three Months Ended September 30
 
Nine Months Ended September 30
(in millions)
 
2016
 
2015
 
2016
 
2015
Income statement data
 
 
 
 
 
 
 
 
Revenues
 
$
158.1

 
$
164.5

 
$
476.6

 
$
482.0

Operating expenses
 
80.2

 
78.0

 
241.0

 
238.3

Other expense
 
23.5

 
23.1

 
71.2

 
71.7

Net income
 
$
54.4

 
$
63.4

 
$
164.4


$
172.0



(in millions)
 
September 30, 2016
 
December 31, 2015
Balance sheet data
 
 
 
 
Current assets
 
$
86.3

 
$
80.5

Noncurrent assets
 
4,205.7

 
3,948.3

Total assets
 
$
4,292.0

 
$
4,028.8

 
 
 
 
 
Current liabilities
 
$
420.7

 
$
330.3

Long-term debt
 
1,791.2

 
1,790.7

Other noncurrent liabilities
 
318.7

 
245.0

Shareholders' equity
 
1,761.4

 
1,662.8

Total liabilities and shareholders' equity
 
$
4,292.0

 
$
4,028.8