Redeemable Stocks of Subsidiaries (Notes)

3 Months Ended

Mar. 31, 2017

Redeemable Stock of Subsidiaries [Abstract]

Redeemable Noncontrolling Interest [Table Text Block]

REDEEMABLE STOCK OF SUBSIDIARIES

The following table is a reconciliation of changes in redeemable stock of subsidiaries (in millions):

	Three Months Ended March 31,
	2017			2016
Balance at the beginning of the period	$	782		$	538
Sale of redeemable stock of subsidiaries	—			134
Net loss attributable to redeemable stock of subsidiaries	(3		)	—
Other comprehensive income attributable to redeemable stock of subsidiaries	(1		)	—
Acquisition and reclassification of stock of subsidiaries	(4		)	—
Balance at the end of the period	$	774		$	672

The following table summarizes the Company’s redeemable stock of subsidiaries balances as of the periods indicated (in millions):

	March 31, 2017		December 31, 2016
IPALCO common stock	$	618	$	618
Colon quotas (1)	96		100
IPL preferred stock	60		60
Other common stock	—		4
Redeemable stock of subsidiaries	$	774	$	782

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⁽¹⁾  Characteristics of quotas are similar to common stock.

IPALCO — In March 2016, CDPQ exercised its remaining option by $134 million in IPALCO, which resulted in CDPQ’s combined direct and indirect interest in IPALCO of 30%. The company also recognized an increase to additional paid-in capital and a reduction to retained earnings of $84 million for the excess of the fair value of the shares over their book value. Any subsequent adjustments to allocate earnings and dividends to CDPQ will be classified as NCI within permanent equity as it is not probable that the shares will become redeemable.