CONSOLIDATED ENTITIES AND EQUITY METHOD INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Redeemable noncontrolling interest

The following table presents the changes in Southern Power's redeemable noncontrolling interests for the year ended December 31, 2017:

	2017
	(in millions)
Beginning balance	$	164
Net income attributable to redeemable noncontrolling interests	2
Distributions to redeemable noncontrolling interests	(2		)
Capital contributions from redeemable noncontrolling interests	2
Redemption of redeemable noncontrolling interests	(59		)
Reclassification to non-redeemable noncontrolling interests	(114		)
Change in fair value of redeemable noncontrolling interests	7
Ending balance	$	—

Condensed income statement

The following table presents the attribution of net income to Southern Power and the noncontrolling interests for the year ended December 31, 2017:

	2017
	(in millions)
Net income	$	1,117
Less: Net income attributable to noncontrolling interests	44
Less: Net income attributable to redeemable noncontrolling interests	2
Net income attributable to Southern Power	$	1,071

Equity method investments

Selected financial information of SNG at December 31, 2019 and 2018 and for the years ended December 31, 2019, 2018, and 2017 is as follows:

Balance Sheet Information	2019		2018
	(in millions)
Current assets	$	85	$	104
Property, plant, and equipment	2,570		2,606
Deferred charges and other assets	158		121
Total Assets	$	2,813	$	2,831
Current liabilities	$	227	$	103
Long-term debt	1,214		1,103
Other deferred charges and other liabilities	86		212
Total Liabilities	$	1,527	$	1,418
Total Stockholders' Equity	$	1,286	$	1,413
Total Liabilities and Stockholders' Equity	$	2,813	$	2,831

Income Statement Information	2019		2018		2017
	(in millions)
Revenues	$	630	$	604	$	544
Operating income	335		310		242
Net income	280		261		175

The carrying amounts of Southern Company Gas' equity method investments at December 31, 2019 and 2018 and related income from those investments for the years ended December 31, 2019, 2018, and 2017 were as follows:

Investment Balance	2019		2018
	(in millions)
SNG(a)	$	1,137	$	1,261
Atlantic Coast Pipeline(b)	—		83
PennEast Pipeline	82		71
Pivotal JAX LNG(b)	—		53
Other(c)	32		70
Total	$	1,251	$	1,538

(a) Decrease primarily relates to the continued amortization of deferred tax assets established upon acquisition, as well as distributions in excess of earnings.

(b) As a result of the proposed sale of Southern Company Gas' interests in Pivotal LNG and Atlantic Coast Pipeline, these amounts are classified as held for sale at December 31, 2019. See Note 3 under "Other Matters – Southern Company Gas" and Note 15 under "Southern Company Gas – Proposed Sale of Pivotal LNG and Atlantic Coast Pipeline" and "Assets Held for Sale," respectively, for additional information.

(c)

Decrease primarily relates to the sale of Triton. See Note 15 under "Southern Company Gas" for additional information.

Equity method investments related income

Earnings from Equity Method Investments	2019			2018		2017
	(in millions)
SNG	$	141		$	131	$	88
Atlantic Coast Pipeline(a)	13			7		6
PennEast Pipeline(a)	6			5		6
Other(b)	(3		)	5		6
Total	$	157		$	148	$	106

(a) Amounts primarily result from AFUDC equity recorded by the project entity.

(b)

Decrease primarily relates to the sale of Triton. See Note 15 under "Southern Company Gas" for additional information.