Recently Issued or Adopted Accounting Pronouncements	6 Months Ended
Jun. 30, 2018
Recently Issued or Adopted Accounting Pronouncements
Recently Issued or Adopted Accounting Pronouncements	(E) Recently Issued or Adopted Accounting Pronouncements. In May 2014, the Financial Accounting Standards Board (FASB) issued "Revenue from Contracts with Customers" (Topic 606). The new revenue standard requires that an entity recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. In addition, Topic 606 requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. We adopted the new revenue standard effective January 1, 2018, using the full retrospective method, which required us to restate each prior reporting period presented. The adoption of the new revenue standard did not change the nature, amounts or timing of revenues we recognize within an annual reporting period. The most significant impact of the new revenue standard to us relates to the potential recognition of refund liabilities related to capacity revenues in interim reporting periods. Refund liabilities, if any, are included in accounts payable on our consolidated balance sheets. For the six months ended June 30, 2018 and 2017, we recognized refund liabilities totaling $5,650,000 and $5,750,000, respectively. Adoption of the new revenue standard had no impact to cash from or used in operating, financing, or investing on our consolidated cash flows statements. In January 2016, the FASB issued "Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities." The amendments in this update address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The new standard is effective for us for annual reporting periods beginning after December 15, 2017, and interim periods therein. Certain provisions within this update can be adopted early. Certain provisions within this update should be applied by means of a cumulative effect adjustment to the balance sheet of the fiscal year of adoption and certain provisions should be applied prospectively. One of the provisions in this standard requires our equity investments, except those accounted for under the equity method of accounting or those that result in consolidation of our subsidiary, to be measured at fair value with changes in fair value recognized in net income. None of the other provisions in this standard will have any impact to our consolidated financial statements. Effective December 31, 2017, we adopted regulatory accounting treatment with respect to unrealized gains and/or losses on our equity investments. Upon applying regulatory accounting treatment, unrealized gains on our equity investments will be recorded as a regulatory liability and, conversely, unrealized losses on our equity investments will be recorded as a regulatory asset, at the end of each reporting period. As of December 31, 2017, we recorded $618,000 of unrealized losses on our equity investments as a regulatory asset. On January 1, 2018, we adopted the amendments within this standard. The adoption of this standard did not have any impact to our consolidated financial statements due to our regulatory accounting treatment for unrealized gains and/or losses on our equity investments. In February 2016, the FASB issued "Leases (Topic 842)." The new leases standard requires a dual approach for lessee accounting under which a lessee would account for leases as finance leases or operating leases. Both finance leases and operating leases will result in the lessee recognizing a right-of-use (ROU) asset and a corresponding lease liability. For finance leases the lessee would recognize interest expense and amortization of the ROU asset and for operating leases the lessee would recognize a straight-line total lease expense. Quantitative and qualitative disclosures will also be required surrounding significant judgments made by management. The new lease standard does not substantially change lessor accounting. The new leases standard is effective for us on a modified retrospective approach for annual reporting periods beginning after December 15, 2018, and interim periods therein. Early adoption is permitted. In January 2018, the FASB issued "Land Easement Practical Expedient for Transition to Topic 842" that allows an entity to not evaluate existing and expired land easements that were not previously accounted for as leases upon adoption of Topic 842. Any land easements entered into prospectively or modified after adoption should be evaluated to assess whether they meet the definition of a lease. In July 2018, the FASB issued "Codification Improvements to Topic 842, Leases" to clarify certain narrow aspects of the guidance in Topic 842. The effective date and transition requirements in this standard are the same as the requirements in Topic 842. We are currently assessing the potential impacts of the amendments in this standard in context of the overall adoption of the new accounting guidance for leases. In addition, we continue to monitor both the FASB's ongoing standard-setting activities that may result in the issuance of additional targeted improvements, as well as potential industry implementation issues. In July 2018, the FASB issued "Leases (Topic 842): Targeted Improvements" to add a new transition method to the new leases standard that allows entities to not apply the new guidance in the comparative periods entities present in their financial statements in the year of adoption. The FASB also provided a practical expedient that gives lessors an option to combine non-lease and associated lease components when certain criteria are met and requires a lessor to account for the combined component in accordance with the new revenue standard if the associated non-lease components are the predominant component. While we have not fully completed our evaluation of the new leases standard, we expect that the adoption of such standard will not have a material impact on our consolidated financial statements. Our lease portfolio consists of our 60% undivided interest in Scherer Unit No. 2, railcars leases for the transportation of coal and various nominal leases. We account for the Scherer Unit No. 2 leases as capital leases and the railcars leases as operating leases under the current lease accounting model. At this time, we believe that the key changes in adopting the new leases standard will be how we account for our operating leases that are currently off-balance sheet. Our evaluation process includes, but is not limited to, reviewing all forms of leases, performing a completeness assessment over the lease population and analyzing the practical expedients available to us. We will adopt the new leases standard on January 1, 2019. In June 2016, the FASB issued "Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." The amendments in this update replace the current incurred loss impairment methodology with a methodology that reflects expected credit losses. The new standard is effective for us prospectively for annual reporting periods beginning after December 15, 2019, and interim periods therein. The amendments in this update can be adopted earlier as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We are currently evaluating the future impact of this standard on our consolidated financial statements. In March 2018, the FASB issued "Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118." In accordance with the standard, we recognized the provisional tax impacts related to the re-measurement of our deferred income tax assets and liabilities as of the year ended December 31, 2017. As of June 30, 2018, we have not made any additional measurement-period adjustments related to these items. Such adjustments may be necessary in future periods due to, among other things, the significant complexity of the Tax Cuts and Job Act signed into law in December 2017, and anticipated additional regulatory guidance that may be issued by the Internal Revenue Service, changes in analysis, interpretations and assumptions we made and actions we may take as a result of the Act. We are continuing to gather information to assess the application of the Act and expect to complete our analysis with the filing of our 2017 income tax returns during the fourth quarter of 2018.

(E) Recently Issued or Adopted Accounting Pronouncements. In May 2014, the Financial Accounting Standards Board (FASB) issued "Revenue from Contracts with Customers" (Topic 606). The new revenue standard requires that an entity recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. In addition, Topic 606 requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers.

We adopted the new revenue standard effective January 1, 2018, using the full retrospective method, which required us to restate each prior reporting period presented. The adoption of the new revenue standard did not change the nature, amounts or timing of revenues we recognize within an annual reporting period. The most significant impact of the new revenue standard to us relates to the potential recognition of refund liabilities related to capacity revenues in interim reporting periods. Refund liabilities, if any, are included in accounts payable on our consolidated balance sheets. For the six months ended June 30, 2018 and 2017, we recognized refund liabilities totaling $5,650,000 and $5,750,000, respectively. Adoption of the new revenue standard had no impact to cash from or used in operating, financing, or investing on our consolidated cash flows statements.

In January 2016, the FASB issued "Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities." The amendments in this update address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The new standard is effective for us for annual reporting periods beginning after December 15, 2017, and interim periods therein. Certain provisions within this update can be adopted early. Certain provisions within this update should be applied by means of a cumulative effect adjustment to the balance sheet of the fiscal year of adoption and certain provisions should be applied prospectively. One of the provisions in this standard requires our equity investments, except those accounted for under the equity method of accounting or those that result in consolidation of our subsidiary, to be measured at fair value with changes in fair value recognized in net income. None of the other provisions in this standard will have any impact to our consolidated financial statements. Effective December 31, 2017, we adopted regulatory accounting treatment with respect to unrealized gains and/or losses on our equity investments. Upon applying regulatory accounting treatment, unrealized gains on our equity investments will be recorded as a regulatory liability and, conversely, unrealized losses on our equity investments will be recorded as a regulatory asset, at the end of each reporting period. As of December 31, 2017, we recorded $618,000 of unrealized losses on our equity investments as a regulatory asset. On January 1, 2018, we adopted the amendments within this standard. The adoption of this standard did not have any impact to our consolidated financial statements due to our regulatory accounting treatment for unrealized gains and/or losses on our equity investments.

In February 2016, the FASB issued "Leases (Topic 842)." The new leases standard requires a dual approach for lessee accounting under which a lessee would account for leases as finance leases or operating leases. Both finance leases and operating leases will result in the lessee recognizing a right-of-use (ROU) asset and a corresponding lease liability. For finance leases the lessee would recognize interest expense and amortization of the ROU asset and for operating leases the lessee would recognize a straight-line total lease expense. Quantitative and qualitative disclosures will also be required surrounding significant judgments made by management. The new lease standard does not substantially change lessor accounting. The new leases standard is effective for us on a modified retrospective approach for annual reporting periods beginning after December 15, 2018, and interim periods therein. Early adoption is permitted.

In January 2018, the FASB issued "Land Easement Practical Expedient for Transition to Topic 842" that allows an entity to not evaluate existing and expired land easements that were not previously accounted for as leases upon adoption of Topic 842. Any land easements entered into prospectively or modified after adoption should be evaluated to assess whether they meet the definition of a lease.

In July 2018, the FASB issued "Codification Improvements to Topic 842, Leases" to clarify certain narrow aspects of the guidance in Topic 842. The effective date and transition requirements in this standard are the same as the requirements in Topic 842. We are currently assessing the potential impacts of the amendments in this standard in context of the overall adoption of the new accounting guidance for leases. In addition, we continue to monitor both the FASB's ongoing standard-setting activities that may result in the issuance of additional targeted improvements, as well as potential industry implementation issues.

In July 2018, the FASB issued "Leases (Topic 842): Targeted Improvements" to add a new transition method to the new leases standard that allows entities to not apply the new guidance in the comparative periods entities present in their financial statements in the year of adoption. The FASB also provided a practical expedient that gives lessors an option to combine non-lease and associated lease components when certain criteria are met and requires a lessor to account for the combined component in accordance with the new revenue standard if the associated non-lease components are the predominant component.

While we have not fully completed our evaluation of the new leases standard, we expect that the adoption of such standard will not have a material impact on our consolidated financial statements. Our lease portfolio consists of our 60% undivided interest in Scherer Unit No. 2, railcars leases for the transportation of coal and various nominal leases.

We account for the Scherer Unit No. 2 leases as capital leases and the railcars leases as operating leases under the current lease accounting model. At this time, we believe that the key changes in adopting the new leases standard will be how we account for our operating leases that are currently off-balance sheet. Our evaluation process includes, but is not limited to, reviewing all forms of leases, performing a completeness assessment over the lease population and analyzing the practical expedients available to us.

We will adopt the new leases standard on January 1, 2019.

In June 2016, the FASB issued "Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." The amendments in this update replace the current incurred loss impairment methodology with a methodology that reflects expected credit losses. The new standard is effective for us prospectively for annual reporting periods beginning after December 15, 2019, and interim periods therein. The amendments in this update can be adopted earlier as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We are currently evaluating the future impact of this standard on our consolidated financial statements.

In March 2018, the FASB issued "Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118." In accordance with the standard, we recognized the provisional tax impacts related to the re-measurement of our deferred income tax assets and liabilities as of the year ended December 31, 2017. As of June 30, 2018, we have not made any additional measurement-period adjustments related to these items. Such adjustments may be necessary in future periods due to, among other things, the significant complexity of the Tax Cuts and Job Act signed into law in December 2017, and anticipated additional regulatory guidance that may be issued by the Internal Revenue Service, changes in analysis, interpretations and assumptions we made and actions we may take as a result of the Act. We are continuing to gather information to assess the application of the Act and expect to complete our analysis with the filing of our 2017 income tax returns during the fourth quarter of 2018.