InfraREIT (HIFR) 10-Q 3 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 29, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	HIFR
Entity Registrant Name	InfraREIT, Inc.
Entity Central Index Key	1,506,401
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		43,764,471

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 10,806	$ 9,471
Restricted cash	1,682	1,682
Due from affiliates	24,600	31,172
Inventory	6,648	6,731
Prepaids and other current assets	1,050	560
Total current assets	44,786	49,616
Electric Plant, net	1,539,722	1,434,531
Goodwill	138,384	138,384
Other Assets	39,638	40,979
Total Assets	1,762,530	1,663,510
Current Liabilities
Accounts payable and accrued liabilities	35,537	22,943
Short-term borrowings	48,500	54,000
Current portion of long-term debt	7,633	7,423
Dividends and distributions payable	15,158	13,634
Accrued taxes	3,791	3,312
Total current liabilities	110,619	101,312
Long-Term Debt, Less Deferred Financing Costs	713,452	617,305
Regulatory Liability	16,024	10,625
Total liabilities	840,095	729,242
Commitments and Contingencies
Equity
Common stock, $0.01 par value; 450,000,000 shares authorized; 43,575,727 and 43,565,495 issued and outstanding as of June 30, 2016 and December 31, 2015, respectively	436	436
Additional paid-in capital	702,391	702,213
Accumulated deficit	(33,389)	(24,526)
Total InfraREIT, Inc. equity	669,438	678,123
Noncontrolling interest	252,997	256,145
Total equity	922,435	934,268
Total Liabilities and Equity	$ 1,762,530	$ 1,663,510

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Statement Of Financial Position [Abstract]
Common stock, par or stated value per share	$ 0.01	$ 0.01
Common stock, shares authorized	450,000,000	450,000,000
Common stock, shares issued	43,575,727	43,565,495
Common stock, shares, outstanding	43,575,727	43,565,495

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Lease revenue	$ 33,785	$ 29,458	$ 67,450	$ 58,830
Operating costs and expenses
General and administrative expense	4,980	4,728	10,525	53,461
Depreciation	11,410	9,671	22,484	19,179
Total operating costs and expenses	16,390	14,399	33,009	72,640
Income (loss) from operations	17,395	15,059	34,441	(13,810)
Other (expense) income
Interest expense, net	(9,055)	(6,939)	(17,897)	(14,361)
Other income, net	1,137	847	1,896	1,473
Total other expense	(7,918)	(6,092)	(16,001)	(12,888)
Income (loss) before income taxes	9,477	8,967	18,440	(26,698)
Income tax expense	293	124	479	332
Net income (loss)	9,184	8,843	17,961	(27,030)
Less: Net income (loss) attributable to noncontrolling interest	2,576	2,481	5,038	(6,519)
Net income (loss) attributable to InfraREIT, Inc.	$ 6,608	$ 6,362	$ 12,923	$ (20,511)
Net income (loss) attributable to InfraREIT, Inc. common stockholders per share:
Basic	$ 0.15	$ 0.15	$ 0.30	$ (0.48)
Diluted	0.15	0.15	0.30	(0.48)
Cash dividends declared per common share	$ 0.250	$ 0.225	$ 0.500	$ 0.625

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities
Net income (loss)	$ 17,961	$ (27,030)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	22,484	19,179
Amortization of deferred financing costs	2,007	1,824
Allowance for funds used during construction — other funds	(1,896)	(1,481)
Reorganization structuring fee		44,897
Realized gain on sale of marketable securities		(66)
Equity based compensation	520	308
Changes in assets and liabilities:
Due from affiliates	6,572	6,046
Inventory	83	455
Prepaids and other current assets	(490)	(855)
Accounts payable and accrued liabilities	13,308	7,683
Net cash provided by operating activities	60,549	50,960
Cash flows from investing activities
Additions to electric plant	(120,615)	(115,627)
Proceeds from sale of assets		41,211
Sale of marketable securities		1,065
Cash paid to InfraREIT, L.L.C. investors in the merger, net of cash assumed		(172,400)
Net cash used in investing activities	(120,615)	(245,751)
Cash flows from financing activities
Net proceeds from issuance of common stock upon initial public offering		493,722
Proceeds from short-term borrowings	50,500	33,000
Repayments of short-term borrowings	(56,000)	(253,000)
Proceeds from borrowings of long-term debt	100,000
Repayments of long-term debt	(3,660)	(9,569)
Deferred financing costs	(649)	(153)
Dividends and distributions paid	(28,790)	(34,326)
Net cash provided by financing activities	61,401	229,674
Net increase in cash and cash equivalents	1,335	34,883
Cash and cash equivalents at beginning of period	9,471	15,612
Cash and cash equivalents at end of period	$ 10,806	$ 50,495

Description of Business and Pre

Description of Business and Presentation of Financial Statements	6 Months Ended
	Jun. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Description of Business and Presentation of Financial Statements	1. Description of Business and Presentation of Financial Statements Basis of Presentation InfraREIT, Inc. is a Maryland corporation and the surviving corporation of a merger (Merger) with InfraREIT, L.L.C., a Delaware limited liability company, completed on February 4, 2015 in connection with the initial public offering (IPO) of InfraREIT, Inc. and related transactions effected during the first quarter of 2015 (collectively, the Reorganization). For additional information related to our IPO and Reorganization, refer to the consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2015 filed with the U.S. Securities and Exchange Commission (SEC) on March 3, 2016. The Merger was accounted for as a reverse acquisition, which means for accounting purposes we treated the assets and liabilities of InfraREIT, Inc. as assumed and incorporated with the assets and liabilities of InfraREIT, L.L.C. The accompanying unaudited interim financial statements of InfraREIT, Inc. (which may be referred to as the “Company,” “InfraREIT,” “we,” “our” and “us”) include our accounts and the accounts of all other entities in which we have a controlling financial interest with noncontrolling interest of consolidated subsidiaries reported separately. This Quarterly Report on Form 10-Q presents the operations of InfraREIT, L.L.C. prior to the Merger and the operations of InfraREIT, Inc. after the Merger. These unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. For further information, refer to the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2015 filed with the SEC on March 3, 2016. We held 71.9% of the outstanding partnership units (OP Units) in InfraREIT Partners, LP (Operating Partnership or InfraREIT LP) as of June 30, 2016 and are its general partner. We include the accounts of the Operating Partnership and its subsidiaries in our consolidated financial statements. MC Transmission Holdings, Inc., which is a subsidiary of Marubeni Corporation (Marubeni), seven members of our board of directors and affiliates of Hunt Consolidated, Inc. (HCI) held the other 28.1% of the outstanding OP Units as of June 30, 2016. Recent Accounting Guidance Recently Adopted Accounting Guidance In February 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) 2015-02, Consolidation (Topic 810) – Amendments to the Consolidation Analysis In April 2015, the FASB issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30), Simplifying the Presentation of Debt Issuance Costs In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805), Simplifying the Accounting for Measurement-Period Adjustments Recent Accounting Guidance Not Yet Adopted In February 2016, the FASB issued ASU 2016-02, Leases

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	2 . Related Party Transactions Our subsidiary, Sharyland Distribution & Transmission, L.L.C. (SDTS), is party to several lease agreements with Sharyland Utilities, L.P. (Sharyland) through which we lease all of our electric transmission and distribution assets (T&D assets) to Sharyland. Under the leases we have agreed to fund capital expenditures for footprint projects. Our leases define “footprint projects” to be transmission or distribution projects primarily situated within our distribution service territory, that physically hang from our existing transmission assets or that are physically located within one of our substations. We earned lease revenues from Sharyland under these agreements of $33.8 million and $29.5 million during the three months ended June 30, 2016 and 2015, respectively. We earned $67.5 million and $58.8 million from Sharyland during the six months ended June 30, 2016 and 2015, respectively. In connection with our leases with Sharyland, we recorded a deferred rent liability of $24.0 million and $11.5 million as of June 30, 2016 and December 31, 2015, respectively, which is included in accounts payable and accrued liabilities on the Consolidated Balance Sheets. In addition to rent payments that Sharyland makes to us, we and Sharyland also make payments to each other under the leases that primarily consist of payments to reimburse Sharyland for the costs of gross plant and equipment added to our T&D assets. For the six months ended June 30, 2016 and 2015, the net amount of the payments we made to Sharyland was $120.1 million and $121.3 million, respectively. As of June 30, 2016 and December 31, 2015, accounts payable and accrued liabilities on the Consolidated Balance Sheets included $7.7 million and $9.2 million, respectively, related to amounts owed to Sharyland. As of June 30, 2016 and December 31, 2015, amounts due from affiliates on the Consolidated Balance Sheets included $24.6 million and $31.2 million, respectively, related to amounts owed by Sharyland associated with our leases. Our management fee paid to Hunt Utility Services, LLC (Hunt Manager) for the six months ended June 30, 2016 and 2015 was $6.8 million and $5.8 million, respectively. As of June 30, 2016 and December 31, 2015, there were no prepaid or accrued amounts associated with management fees on the Consolidated Balance Sheets. Additionally, during the six months ended June 30, 2016 and 2015, we paid Hunt Manager less than $0.1 million and $0.3 million, respectively, for reimbursement of annual software license and maintenance fees and other expenses in accordance with our management agreement. Our current management agreement with Hunt Manager provided for an annual base fee, or management fee, of $10.0 million through April 1, 2015. Effective as of April 1, 2015, the annual base fee was automatically adjusted to $13.1 million annually through March 31, 2016. Effective as of April 1, 2016, the annual base fee was automatically adjusted to $14.0 million annually through March 31, 2017. The base fee and each base fee going forward for the twelve month period beginning on each April 1 thereafter will equal 1.50% of our total equity (including noncontrolling interest) as of December 31 of the immediately preceding year, subject to a $30.0 million cap, unless a greater amount is approved by a majority of our independent directors or a committee comprised solely of independent directors. The term of the management agreement expires December 31, 2019 and will automatically renew for successive five-year terms unless a majority of our independent directors decides to terminate the agreement. In connection with the organization of InfraREIT, L.L.C. in November 2010, our Operating Partnership agreed to issue deemed capital credits and Class A OP Units to Hunt-InfraREIT, L.L.C. (Hunt-InfraREIT), a subsidiary of HCI. Our Operating Partnership agreed to issue up to $82.5 million to Hunt-InfraREIT, pro-rata, as we funded the capital expenditures related to our competitive renewable energy zones (CREZ) project up to $737.0 million. In addition, our Operating Partnership also agreed to issue to Hunt-InfraREIT deemed capital credits in an amount equal to 5% of our capital expenditures on certain development projects. As of December 31, 2014, our Operating Partnership issued Hunt-InfraREIT an aggregate of 6.8 million Class A OP Units in respect of these obligations. On January 1, 2015, our Operating Partnership issued an additional 70,846 Class A OP Units to Hunt-InfraREIT, and, upon completion of our IPO, our Operating Partnership issued Hunt-InfraREIT an accelerated deemed capital credit equal to 983,418 Class A OP Units, which settled the related obligations to Hunt-InfraREIT. Following this issuance, our Operating Partnership no longer has the obligation to issue deemed capital credits or related equity to Hunt-InfraREIT. We recorded these capital account credits as asset acquisition costs included as part of the capital project in our construction work in progress (CWIP) balance. In connection with the IPO, Reorganization and related transactions, we incurred an aggregate of $5.0 million of legal fees, a portion of which was paid to reimburse HCI and its subsidiaries (collectively, Hunt), to reimburse certain of our pre-IPO investors and to reimburse certain of our pre-IPO independent directors, in each case for legal expenses they incurred in connection with such transactions. Of the total legal fees incurred, $0.1 million of the legal fees were recorded during the first quarter of 2015. There were no such costs incurred after the completion of our IPO. For additional information related to our IPO and Reorganization refer to the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2015 filed with the SEC on March 3, 2016. In November 2014, InfraREIT, Inc. borrowed $1.0 million from HCI pursuant to a promissory note. The note accrued interest at 2.5% per year and was due on November 1, 2015. This note and accrued interest were repaid in February 2015 with proceeds from our IPO for a total of $1.0 million. Effective January 15, 2015, we sold all the assets related to the Cross Valley transmission line (Cross Valley Project) to a newly formed development company owned by Hunt and certain of its affiliates for cash of $34.2 million, which equaled the CWIP of the project on the date of sale, plus reimbursement of out of pocket expenses associated with the project financing. Also on January 15, 2015, we sold all the assets related to the Golden Spread Electric Cooperative interconnection (Golden Spread Project) to Hunt for cash of $7.0 million, which equaled the CWIP of the project on the date of sale. In November 2015 and February 2016, the Conflicts Committee of our board of directors received an offer for the purchase of the Golden Spread Project and Cross Valley Project, respectively. On March 10, 2016, we announced our decision to postpone the consideration of the purchase of the Golden Spread Project and Cross Valley Project.

Electric Plant and Depreciation

Electric Plant and Depreciation	6 Months Ended
	Jun. 30, 2016
Public Utilities Property Plant And Equipment [Abstract]
Electric Plant and Depreciation	3 . Electric Plant and Depreciation The major classes of electric plant are as follows: (In thousands) June 30, 2016 December 31, 2015 Electric plant: Transmission plant $ 1,134,030 $ 1,080,050 Distribution plant 519,953 457,988 General plant 15,951 15,655 Total plant in service 1,669,934 1,553,693 CWIP 122,612 121,602 Total electric plant 1,792,546 1,675,295 Accumulated depreciation (252,824 ) (240,764 ) Electric plant, net $ 1,539,722 $ 1,434,531 General plant consists primarily of a warehouse, buildings and associated assets. CWIP relates to various transmission and distribution projects underway. The capitalized amounts of CWIP consist primarily of route development expenditures, labor and materials expenditures, right of way acquisitions, engineering services and legal fees. Electric plant, net includes plant acquisition adjustments of $28.1 million and $28.6 million at June 30, 2016 and December 31, 2015, respectively. In 2013, SDTS purchased from Southwestern Public Service Company approximately 66 miles of existing transmission lines and two substations located near Stanton, Texas for $37.1 million. SDTS holds legal title to the assets and they are subject to a lease with Sharyland. Sharyland has the responsibility for operating these T&D assets and complying with all applicable regulatory requirements. As of December 31, 2014, these transmission lines and substations were classified as electric plant held for future use within electric plant, net. During August 2015, the assets classified as electric plant held for future use were placed in service and reclassified to transmission plant within electric plant, net on the Consolidated Balance Sheets and began depreciating.

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	4 . Goodwill Goodwill represents the excess of costs of an acquired business over the fair value of the assets acquired, less liabilities assumed. We conduct an impairment test of goodwill at least annually. As of June 30, 2016 and December 31, 2015, $138.4 million was recorded as goodwill on the Consolidated Balance Sheets.

Other Assets

Other Assets	6 Months Ended
	Jun. 30, 2016
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Other Assets	5 . Other Assets Other assets are as follows: June 30, 2016 December 31, 2015 (In thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Deferred financing costs on undrawn revolver $ 967 $ (300 ) $ 667 $ 967 $ (204 ) $ 763 Other regulatory assets: Deferred financing costs 27,761 (15,102 ) 12,659 27,112 (13,208 ) 13,904 Deferred costs recoverable in future years 23,793 — 23,793 23,793 — 23,793 Other regulatory assets, net 51,554 (15,102 ) 36,452 50,905 (13,208 ) 37,697 Investments 2,519 — 2,519 2,519 — 2,519 Other assets $ 55,040 $ (15,402 ) $ 39,638 $ 54,391 $ (13,412 ) $ 40,979 Deferred financing costs on undrawn revolver consist of costs incurred in connection with the establishment of the InfraREIT LP revolving credit facility, see Note 6, Borrowings Under Credit Facilities Other regulatory assets consist of deferred financing costs within our regulated entities. These assets are classified as regulatory assets and amortized over the length of the related loan. These costs will be included in the costs to be recovered in connection with a future rate case. Deferred financing costs included in other regulatory assets primarily consist of debt issuance costs incurred in connection with the construction credit agreement entered into in 2011 by Sharyland Projects, LLC (SPLLC), which was at the time one of our subsidiaries; refinancing costs incurred in connection with the amended and restated revolving credit facility entered into by SDTS in 2013; refinancing costs incurred to amend and restate the SDTS credit facility in order to increase the revolving credit facility to a total of $250.0 million in 2014 and financing costs incurred in connection with SDTS’s senior secured notes, series A and series B in December 2015 and January 2016. See Note 6, Borrowings Under Credit Facilities Long-Term Debt Deferred costs recoverable in future years of $23.8 million at June 30, 2016 and December 31, 2015 represent operating costs incurred from inception of Sharyland through 2007. We have determined that these costs are probable of recovery through future rates based on orders of the Public Utility Commission of Texas (PUCT) in Sharyland’s prior rate cases and regulatory precedent. In connection with the acquisition of Cap Rock Holding Corporation (Cap Rock) in 2010, we received a participation in the National Rural Cooperative Corporation (NRUCFC). We account for this investment under the cost method of accounting. We believe that the investment is not impaired at June 30, 2016 and December 31, 2015.

Borrowings Under Credit Facilit

Borrowings Under Credit Facilities	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Borrowings Under Credit Facilities	6 . Borrowings Under Credit Facilities InfraREIT LP Revolving Credit Facility In December 2014, InfraREIT LP entered into a $75.0 million revolving credit facility, led by Bank of America, N.A., as administrative agent, with up to $15.0 million available for issuance of letters of credit and a maturity date of December 10, 2019. The revolving credit facility is secured by substantially all of the assets of InfraREIT LP. In addition, Transmission and Distribution Company, LLC (TDC) guarantees the revolving credit facility and this guarantee is secured by the assets of, and InfraREIT LP’s equity interests in, TDC on materially the same basis as with TDC’s senior secured notes described below. Upon consummation of the IPO and Merger, InfraREIT, Inc. became a guarantor under this revolving credit facility. The credit agreement requires InfraREIT LP to comply with coverage ratios on a consolidated basis and contains affirmative and negative covenants, including: limitations on additional debt, liens, investments, mergers, acquisitions, dispositions or entry into any line of business other than the business of the transmission and distribution of electric power and the provision of ancillary services and certain restrictions on the payment of dividends. The credit agreement also contains restrictions on the amount of Sharyland’s indebtedness and other restrictions on, and covenants applicable to, Sharyland. Borrowings and other extensions of credit under the revolving credit facility bear interest, at InfraREIT LP’s election, at a rate equal to (1) the one, two, three or six month London Interbank Offered Rate (LIBOR) plus 2.5%, or (2) a base rate (equal to the highest of (a) the Federal Funds Rate plus ½ of 1%, (b) the Bank of America prime rate and (c) LIBOR plus 1%) plus 1.5%. Letters of credit are subject to a letter of credit fee equal to the daily amount available to be drawn multiplied by 2.5%. InfraREIT LP is also required to pay a commitment fee and other customary fees under the revolving credit facility. InfraREIT LP may prepay amounts outstanding under the revolving credit facility in whole or in part without premium or penalty. At June 30, 2016 and December 31, 2015, there were no outstanding borrowings or letters of credit and there was $75.0 million of borrowing capacity available under the revolving credit facility. As of June 30, 2016 and December 31, 2015, InfraREIT LP was in compliance with all covenants under the credit agreement. SDTS Revolving Credit Facility SDTS’s revolving credit facility has a borrowing capacity of up to $250.0 million and a maturity date of December 10, 2019. Up to $25.0 million of the revolving credit facility is available for issuance of letters of credit, and up to $5.0 million of the revolving facility is available for swingline loans. The revolving credit facility is secured by SDTS’s T&D assets, the leases, certain accounts and TDC’s equity interests in SDTS on the same basis as SDTS’s various senior secured note obligations described below in Note 7, Long-Term Debt The interest rate for the revolving credit facility is based, at SDTS’s option, at a rate equal to either (1) a base rate, determined as the greatest of (a) the administrative agent’s prime rate, (b) the federal funds effective rate plus ½ of 1% and (c) LIBOR plus 1.00% per annum, plus a margin of either 0.75% or 1.00% per annum, depending on the total debt to capitalization ratio of SDTS on a consolidated basis or (2) LIBOR plus a margin of either 1.75% or 2.00% per annum, depending on the total debt to capitalization ratio of SDTS on a consolidated basis. SDTS is also required to pay a commitment fee and other customary fees under its revolving credit facility. SDTS is entitled to prepay amounts outstanding under the revolving credit facility with no prepayment penalty. At June 30, 2016, SDTS had $48.5 million of borrowings outstanding at a weighted average interest rate of 2.21%, no letters of credit outstanding and $201.5 million of remaining borrowing capacity available under this revolving credit facility. At December 31, 2015, SDTS had $54.0 million of borrowings outstanding at a weighted average interest rate of 2.05% with no letters of credit outstanding and $196.0 million of remaining borrowing capacity under this revolving credit facility. As of June 30, 2016 and December 31, 2015, SDTS was in compliance with all covenants under its credit agreement. The revolving credit facilities of InfraREIT LP and SDTS are subject to customary events of default. If an event of default occurs under either facility and is continuing, the lenders may accelerate amounts due under such revolving credit facility (except in the case of a bankruptcy event of default, in which case such amounts will automatically become due and payable).

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2016
Debt Instruments [Abstract]
Long-Term Debt	7 . Long-Term Debt Long-term debt consisted of the following: June 30, 2016 December 31, 2015 (In thousands) Maturity Date Amount Outstanding Interest Rate Amount Outstanding Interest Rate TDC Senior secured notes - $25.0 million December 30, 2020 $ 18,125 8.50% $ 18,750 8.50% SDTS Senior secured notes - $60.0 million June 20, 2018 60,000 5.04% 60,000 5.04% Senior secured notes - $400.0 million December 3, 2025 400,000 3.86% 400,000 3.86% Senior secured notes - $100.0 million January 14, 2026 100,000 3.86% — N/A Senior secured notes - $53.5 million December 30, 2029 43,574 7.25% 44,512 7.25% Senior secured notes - $110.0 million September 30, 2030 99,531 6.47% 101,627 6.47% Total SDTS debt 703,105 606,139 Total long-term debt 721,230 624,889 Less unamortized deferred financing costs (145 ) (161 ) Total long-term debt, less deferred financing costs 721,085 624,728 Less current portion of long-term debt (7,633 ) (7,423 ) Debt classified as long-term debt, less deferred financing costs $ 713,452 $ 617,305 Senior Secured Notes – In 2010, in connection with the acquisition of Cap Rock, TDC issued $25.0 million aggregate principal amount of 8.50% per annum senior secured notes to The Prudential Insurance Company of America and affiliates. Principal and interest on these senior secured notes are payable quarterly and these senior secured notes are collateralized by the equity interest of TDC and substantially all of the assets of TDC on materially the same basis as with lenders under InfraREIT LP’s revolving credit facility described above in Note 6, . In connection with the issuance of these senior secured notes, TDC incurred deferred financing costs which are shown as a reduction of the senior secured notes balance. The amount of unamortized deferred financing costs associated with these senior secured notes was $0.1 million and $0.2 million as of June 30, 2016 and December 31, 2015, respectively. These costs were reclassified from other assets to long-term debt, less deferred financing costs on the Consolidated Balance Sheets in accordance with new accounting guidance adopted January 1, 2016, see Note 1, . In December 2015, SDTS issued $400.0 million in 10 year senior secured notes, series A (Series A Notes), due December 3, 2025, and on January 14, 2016 issued an additional $100.0 million in 10 year senior secured notes, series B (Series B Notes), due January 14, 2026. These senior secured notes were issued through a private placement conducted pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended, and bear interest at a rate of 3.86% per annum, payable semi-annually. The Series A Notes are due at maturity with outstanding accrued interest payable each June and December. The Series B Notes are due at maturity with outstanding accrued interest payable each January and July. In 2009, SDTS issued $53.5 million aggregate principal amount of 7.25% per annum senior secured notes to The Prudential Insurance Company of America and affiliates (2009 Notes). Principal and interest on these senior secured notes are payable quarterly. In 2010, in connection with the acquisition of Cap Rock, SDTS issued $110.0 million aggregate principal amount of 6.47% per annum senior secured notes to The Prudential Insurance Company of America (2010 Notes). Principal and interest on these senior secured notes are payable quarterly. SDTS and TDC are entitled to prepay amounts outstanding under their senior secured notes, subject to a prepayment penalty equal to the excess of the discounted value of the remaining scheduled payments with respect to such notes over the amount of the prepaid notes. The agreements governing the senior secured notes contain certain default triggers related to the failure to maintain compliance with financial and other covenants contained in the agreements, such as limitations on liens, investments and the incurrence of additional indebtedness. As of June 30, 2016 and December 31, 2015, SDTS and TDC were in compliance with all covenants under the applicable agreements. Senior Secured Credit Facilities - In 2011, SPLLC entered into a construction term loan agreement syndicated broadly to a group of international banks, and issued fixed rate notes to The Prudential Insurance Company of America and affiliates (Fixed Rate Notes). The $447.0 million construction term loan was converted into a term loan with a balance of $407.0 million in May 2014. After this conversion, interest accrued at LIBOR plus 2.25%. Interest under the term loan was payable the last day of the selected interest period for interest periods of three months or less, and every three months for interest periods greater than three months. Amortized principal amounts of the term loan were payable quarterly after the conversion. The term loan had an interest rate of 2.44% at June 30, 2015. In December 2015, the outstanding principal and interest on the term loan were paid in full with proceeds from the SDTS Series A Notes. Also in December 2015, the Fixed Rate Notes were assumed by SDTS in connection with the merger of SPLLC into SDTS. The Fixed Rate Notes have a principal balance of $60.0 million which is due in full on June 20, 2018. Interest is payable quarterly at an interest rate of 5.04% per annum. The Fixed Rate Notes do not provide for any principal payments. The credit agreement governing the Fixed Rate Notes contains certain default triggers related to the failure to maintain compliance with financial and other covenants contained in the agreements, such as limitations on liens, investments and the incurrence of additional indebtedness. SDTS was in compliance with all covenants for the Fixed Rate Notes as of June 30, 2016 and December 31, 2015. SDTS’s Series A Notes, Series B Notes, 2009 Notes, 2010 Notes and Fixed Rate Notes are secured by SDTS’s T&D assets, the leases, certain accounts and TDC’s equity interests in SDTS on the same basis as SDTS’s revolving credit facility described above in Note 6, Borrowings Under Credit Facilities

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	8 . Fair Value of Financial Instruments The carrying amounts of our cash and cash equivalents, restricted cash, due from affiliates and accounts payable approximate fair value due to the short-term nature of these assets and liabilities. We had borrowings totaling $721.2 million and $624.9 million under our senior secured notes with a weighted average interest rate of 4.64% and 4.78% per annum as of June 30, 2016 and December 31, 2015, respectively. The fair value of these borrowings is estimated using discounted cash flow analysis based on current market rates. Financial instruments, measured at fair value, by level within the fair value hierarchy were as follows: Carrying Fair Value (In thousands) Value Level 1 Level 2 Level 3 June 30, 2016 Long-term debt $ 721,230 $ — $ 790,687 $ — December 31, 2015 Long-term debt $ 624,889 $ — $ 657,270 $ —

Regulatory Liability

Regulatory Liability	6 Months Ended
	Jun. 30, 2016
Regulatory Assets And Liabilities Disclosure [Abstract]
Regulatory Liability	9 . Regulatory Liability Our regulatory liability is established through our depreciation rates related to cost of removal and represents amounts that we expect to incur in the future. As of June 30, 2016 and December 31, 2015, we recorded on the Consolidated Balance Sheets as a long-term liability $16.0 million and $10.6 million, respectively, net of actual removal costs incurred.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	1 0 . Commitments and Contingencies The amounts reported as regulatory assets as of June 30, 2016 and December 31, 2015 are subject to the review by the PUCT and as with all utility assets may change at a later date based on that review, see Note 5, Other Assets We are not a party to any legal proceedings other than legal proceedings arising in the ordinary course of business. We do not believe the resolution of these proceedings, individually or in the aggregate, will have a material impact on our business, financial condition or results of operations, liquidity and cash flows.

Equity

Equity	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Equity	1 1 . Equity On June 3, 2016, our board of directors approved a cash distribution by the Operating Partnership to all unit holders of record, including InfraREIT, Inc., on June 30, 2016 of $0.25 per unit for a total distribution of $15.2 million ($10.9 million to InfraREIT, Inc.). Also, on June 3, 2016, our board of directors approved a cash dividend to stockholders of record of InfraREIT, Inc. on June 30, 2016 of $0.25 per share for a total of $10.9 million. The cash distribution and cash dividend were paid on July 21, 2016. On March 2, 2016, our board of directors approved a cash distribution by the Operating Partnership to all unit holders of record, including InfraREIT, Inc., on March 31, 2016 of $0.25 per unit for a total distribution of $15.2 million ($10.9 million to InfraREIT, Inc.). Also, on March 2, 2016, our board of directors approved a cash dividend to stockholders of record of InfraREIT, Inc. on March 31, 2016 of $0.25 per share for a total of $10.9 million. The cash distribution and cash dividend were paid on April 21, 2016. On June 5, 2015, our board of directors approved a cash distribution by the Operating Partnership to all unit holders of record, including InfraREIT, Inc., on June 30, 2015 of $0.225 per unit for a total distribution of $13.6 million ($9.8 million to InfraREIT, Inc.). Also, on June 5, 2015, our board of directors approved a cash dividend to stockholders of record of InfraREIT, Inc. on June 30, 2015 of $0.225 per share for a total of $9.8 million. The cash distribution and cash dividend were paid on July 23, 2015. On March 6, 2015, our board of directors approved a cash distribution by the Operating Partnership to all unit holders of record, including InfraREIT, Inc., on March 31, 2015 of $0.14 per unit for a total distribution of $8.5 million ($6.1 million to InfraREIT, Inc.). Also, on March 6, 2015, our board of directors approved a cash dividend to stockholders of record of InfraREIT, Inc. on March 31, 2015 of $0.14 per share for a total of $6.1 million. The cash distribution and cash dividend were paid on April 23, 2015. On January 13, 2015, InfraREIT, L.L.C.’s board of directors approved a cash distribution by the Operating Partnership to all unit holders of record, including InfraREIT, L.L.C., on January 20, 2015 of $0.26 per unit for a total distribution of $11.7 million ($9.0 million to InfraREIT, L.L.C.). Also, on January 13, 2015, InfraREIT, L.L.C.’s board of directors approved a cash dividend to shareholders of record of InfraREIT, L.L.C. on January 20, 2015 of $0.26 per share for a total of $9.0 million. The cash distribution and cash dividend were paid on January 29, 2015. On December 18, 2014, InfraREIT, L.L.C.’s board of directors approved a cash distribution by the Operating Partnership to all unit holders of record, including InfraREIT, L.L.C., on December 18, 2014 of $0.31 per unit for a total distribution of $14.1 million ($10.8 million to InfraREIT, L.L.C.). Also, on December 18, 2014, InfraREIT, L.L.C.’s board of directors approved a cash dividend to shareholders of record of InfraREIT, L.L.C. on December 18, 2014 of $0.31 per share for a total of $10.8 million. The cash distribution and cash dividend were paid on January 16, 2015.

Noncontrolling Interest

Noncontrolling Interest	6 Months Ended
	Jun. 30, 2016
Noncontrolling Interest [Abstract]
Noncontrolling Interest	1 2 . Noncontrolling Interest We present as a noncontrolling interest the portion of any equity in entities that we control and consolidate but do not own. Generally, OP Units of our Operating Partnership participate in net income allocations and distributions and entitle their holder the right, subject to the terms set forth in the partnership agreement, to require the Operating Partnership to redeem all or a portion of the OP Units held by such limited partner. At our option, we may satisfy this redemption with cash or by exchanging shares of InfraREIT, Inc. common stock on a one-for-one basis. As of June 30, 2016 and December 31, 2015, there were a total of 17.1 million and 17.0 million OP Units, respectively, held by the limited partners of the Operating Partnership. During the six months ended June 30, 2016 and 2015, our Operating Partnership issued an aggregate of 29,722 and 28,000 long-term incentive units (LTIP Units), respectively, to seven members of our board of directors. For additional information, refer to Note 15, Share-Based Compensation We follow the guidance issued by the FASB regarding the classification and measurement of redeemable securities. Accordingly, we have determined that the OP Units meet the requirements to be classified as permanent equity. The Operating Partnership did not redeem any OP Units during the six months ended June 30, 2016. During the year ended December 31, 2015, we did not redeem any OP Units other than, in connection with the Reorganization: (1) 1,551,878 Class A OP Units held by Hunt-InfraREIT, which were exchanged with InfraREIT, Inc. for 1,551,878 shares of common stock of InfraREIT, Inc. and (2) 6,242,999 Class A OP Units in exchange for the assignment of a promissory note in the principal amount of $66.5 million.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	1 3 . Earnings Per Share Basic earnings per share is calculated by dividing net earnings after noncontrolling interest by the weighted average shares outstanding. Diluted earnings per share is calculated similarly, except that it includes the dilutive effect of the assumed redemption of OP Units for shares of common stock of InfraREIT, Inc. or common shares of InfraREIT, L.L.C., as applicable, if such redemption were dilutive. The redemption of OP Units would have been anti-dilutive during the three and six months ended June 30, 2016 and 2015. Earnings per share are calculated as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per share data) 2016 2015 2016 2015 Basic net income per share: Net income (loss) attributable to InfraREIT, Inc. $ 6,608 $ 6,362 $ 12,923 $ (20,511 ) Weighted average common shares outstanding 43,576 43,565 43,573 42,391 Basic net income (loss) per share $ 0.15 $ 0.15 $ 0.30 $ (0.48 ) Diluted net income per share: Net income (loss) attributable to InfraREIT, Inc. $ 6,608 $ 6,362 $ 12,923 $ (20,511 ) Weighted average common shares outstanding 43,576 43,565 43,573 42,391 Redemption of operating partnership units — — — — Weighted average dilutive shares outstanding 43,576 43,565 43,573 42,391 Diluted net income (loss) per share $ 0.15 $ 0.15 $ 0.30 $ (0.48 ) Due to the anti-dilutive effect, the computation of diluted earnings per share does not reflect the following adjustments: Net income (loss) attributable to noncontrolling interest $ 2,576 $ 2,481 $ 5,038 $ (6,519 ) Redemption of operating partnership units 17,058 17,028 17,057 15,424

Leases

Leases	6 Months Ended
	Jun. 30, 2016
Leases [Abstract]
Leases	1 4 . Leases The following table shows the composition of our lease revenue: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Base rent (straight-line) $ 33,785 $ 29,458 $ 67,450 $ 58,830 Percentage rent — — — — Total lease revenue $ 33,785 $ 29,458 $ 67,450 $ 58,830 SDTS has entered into various leases with Sharyland for all of our placed in service T&D assets. The master lease agreements, as amended, expire at various dates from December 31, 2017 through December 31, 2022. Each agreement includes annual base rent while all but one agreement includes additional percentage rent (based on an agreed upon percentage of the gross revenue of Sharyland, as defined in the lease agreements, in excess of annual specified breakpoints). The rate used for percentage rent for the reported time periods varies by lease and ranges from a high of 37% to a low of 23%. Because an annual specified breakpoint must be met under our leases before we can recognize any percentage rent, we anticipate our revenue will grow over the year with little to no percentage rent recognized in the first and second quarters of each year and with the largest amounts recognized during the third and fourth quarters of each year.

Share Based Compensation

Share Based Compensation	6 Months Ended
	Jun. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	1 5 . Share-Based Compensation We currently utilize the InfraREIT, Inc. 2015 Equity Incentive Plan (2015 Equity Incentive Plan) to compensate the non-employee directors for their service on our board of directors. In January 2016, we issued an aggregate of 4,735 shares of common stock and 29,722 LTIP Units to members of our board of directors with a grant date fair value of $18.58 per common share or LTIP Unit and an aggregate fair value of $0.6 million. The 29,722 LTIP Units will vest in January 2017, subject to continued service, and the 4,735 shares of common stock fully vested upon issuance. In April 2016, we issued 5,497 shares of common stock to members of our board of directors with a grant date fair value of $16.81 per common share and an aggregate fair value of $0.1 million. These shares of common stock fully vested upon issuance. In February 2015, an aggregate of 28,000 LTIP Units were issued by the Operating Partnership with a grant date fair value of $26.41 per share to members of our board of directors which vested in full in February 2016. We recognized $0.2 million of compensation expense in general and administrative expense on the Consolidated Statements of Operations during the three months ended June 30, 2016 and 2015. We recognized $0.5 million and $0.3 million of compensation expense in general and administrative expense on the Consolidated Statements of Operations during the six months June 30, 2016 and 2015, respectively, related to these equity awards.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2016
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	1 6 . Supplemental Cash Flow Information Supplemental cash flow information and non-cash investing and financing activities are as follows: Six Months Ended June 30, (In thousands) 2016 2015 Supplemental cash flow information Cash paid during the period for interest $ 15,745 $ 13,569 Non-cash investing and financing activities Change in accrued additions to electric plant 1,544 5,475 Allowance for funds used during construction - debt 1,779 919 Net non-cash equity issuances related to the Merger and Reorganization — 97,193 Net non-cash noncontrolling equity issuances related to the Merger and Reorganization — 119,607 Non-cash noncontrolling interests equity issuance — 755 Dividends and distributions payable 15,158 13,634

Description of Business and P22

Description of Business and Presentation of Financial Statements (Policies)	6 Months Ended
	Jun. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation InfraREIT, Inc. is a Maryland corporation and the surviving corporation of a merger (Merger) with InfraREIT, L.L.C., a Delaware limited liability company, completed on February 4, 2015 in connection with the initial public offering (IPO) of InfraREIT, Inc. and related transactions effected during the first quarter of 2015 (collectively, the Reorganization). For additional information related to our IPO and Reorganization, refer to the consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2015 filed with the U.S. Securities and Exchange Commission (SEC) on March 3, 2016. The Merger was accounted for as a reverse acquisition, which means for accounting purposes we treated the assets and liabilities of InfraREIT, Inc. as assumed and incorporated with the assets and liabilities of InfraREIT, L.L.C. The accompanying unaudited interim financial statements of InfraREIT, Inc. (which may be referred to as the “Company,” “InfraREIT,” “we,” “our” and “us”) include our accounts and the accounts of all other entities in which we have a controlling financial interest with noncontrolling interest of consolidated subsidiaries reported separately. This Quarterly Report on Form 10-Q presents the operations of InfraREIT, L.L.C. prior to the Merger and the operations of InfraREIT, Inc. after the Merger. These unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. For further information, refer to the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2015 filed with the SEC on March 3, 2016. We held 71.9% of the outstanding partnership units (OP Units) in InfraREIT Partners, LP (Operating Partnership or InfraREIT LP) as of June 30, 2016 and are its general partner. We include the accounts of the Operating Partnership and its subsidiaries in our consolidated financial statements. MC Transmission Holdings, Inc., which is a subsidiary of Marubeni Corporation (Marubeni), seven members of our board of directors and affiliates of Hunt Consolidated, Inc. (HCI) held the other 28.1% of the outstanding OP Units as of June 30, 2016.
Recent Accounting Guidance	Recent Accounting Guidance Recently Adopted Accounting Guidance In February 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) 2015-02, Consolidation (Topic 810) – Amendments to the Consolidation Analysis In April 2015, the FASB issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30), Simplifying the Presentation of Debt Issuance Costs In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805), Simplifying the Accounting for Measurement-Period Adjustments Recent Accounting Guidance Not Yet Adopted In February 2016, the FASB issued ASU 2016-02, Leases

Electric Plant and Depreciati23

Electric Plant and Depreciation (Tables)	6 Months Ended
	Jun. 30, 2016
Public Utilities Property Plant And Equipment [Abstract]
Schedule of Major Classes of Electric Plant	The major classes of electric plant are as follows: (In thousands) June 30, 2016 December 31, 2015 Electric plant: Transmission plant $ 1,134,030 $ 1,080,050 Distribution plant 519,953 457,988 General plant 15,951 15,655 Total plant in service 1,669,934 1,553,693 CWIP 122,612 121,602 Total electric plant 1,792,546 1,675,295 Accumulated depreciation (252,824 ) (240,764 ) Electric plant, net $ 1,539,722 $ 1,434,531

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2016
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Summary of Other Assets	Other assets are as follows: June 30, 2016 December 31, 2015 (In thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Deferred financing costs on undrawn revolver $ 967 $ (300 ) $ 667 $ 967 $ (204 ) $ 763 Other regulatory assets: Deferred financing costs 27,761 (15,102 ) 12,659 27,112 (13,208 ) 13,904 Deferred costs recoverable in future years 23,793 — 23,793 23,793 — 23,793 Other regulatory assets, net 51,554 (15,102 ) 36,452 50,905 (13,208 ) 37,697 Investments 2,519 — 2,519 2,519 — 2,519 Other assets $ 55,040 $ (15,402 ) $ 39,638 $ 54,391 $ (13,412 ) $ 40,979

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Instruments [Abstract]
Components of Long-Term Debt	Long-term debt consisted of the following: June 30, 2016 December 31, 2015 (In thousands) Maturity Date Amount Outstanding Interest Rate Amount Outstanding Interest Rate TDC Senior secured notes - $25.0 million December 30, 2020 $ 18,125 8.50% $ 18,750 8.50% SDTS Senior secured notes - $60.0 million June 20, 2018 60,000 5.04% 60,000 5.04% Senior secured notes - $400.0 million December 3, 2025 400,000 3.86% 400,000 3.86% Senior secured notes - $100.0 million January 14, 2026 100,000 3.86% — N/A Senior secured notes - $53.5 million December 30, 2029 43,574 7.25% 44,512 7.25% Senior secured notes - $110.0 million September 30, 2030 99,531 6.47% 101,627 6.47% Total SDTS debt 703,105 606,139 Total long-term debt 721,230 624,889 Less unamortized deferred financing costs (145 ) (161 ) Total long-term debt, less deferred financing costs 721,085 624,728 Less current portion of long-term debt (7,633 ) (7,423 ) Debt classified as long-term debt, less deferred financing costs $ 713,452 $ 617,305

Fair Value of Financial Instr26

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Financial Instruments Measured at Fair Value	Financial instruments, measured at fair value, by level within the fair value hierarchy were as follows: Carrying Fair Value (In thousands) Value Level 1 Level 2 Level 3 June 30, 2016 Long-term debt $ 721,230 $ — $ 790,687 $ — December 31, 2015 Long-term debt $ 624,889 $ — $ 657,270 $ —

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Computation of Earnings Per Share	Earnings per share are calculated as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per share data) 2016 2015 2016 2015 Basic net income per share: Net income (loss) attributable to InfraREIT, Inc. $ 6,608 $ 6,362 $ 12,923 $ (20,511 ) Weighted average common shares outstanding 43,576 43,565 43,573 42,391 Basic net income (loss) per share $ 0.15 $ 0.15 $ 0.30 $ (0.48 ) Diluted net income per share: Net income (loss) attributable to InfraREIT, Inc. $ 6,608 $ 6,362 $ 12,923 $ (20,511 ) Weighted average common shares outstanding 43,576 43,565 43,573 42,391 Redemption of operating partnership units — — — — Weighted average dilutive shares outstanding 43,576 43,565 43,573 42,391 Diluted net income (loss) per share $ 0.15 $ 0.15 $ 0.30 $ (0.48 ) Due to the anti-dilutive effect, the computation of diluted earnings per share does not reflect the following adjustments: Net income (loss) attributable to noncontrolling interest $ 2,576 $ 2,481 $ 5,038 $ (6,519 ) Redemption of operating partnership units 17,058 17,028 17,057 15,424

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2016
Leases [Abstract]
Schedule of Composition of Lease Revenue	The following table shows the composition of our lease revenue: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Base rent (straight-line) $ 33,785 $ 29,458 $ 67,450 $ 58,830 Percentage rent — — — — Total lease revenue $ 33,785 $ 29,458 $ 67,450 $ 58,830

Supplemental Cash Flow Inform29

Supplemental Cash Flow Information(Tables)	6 Months Ended
	Jun. 30, 2016
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information and Non-cash Investing and Financing Activities	Supplemental cash flow information and non-cash investing and financing activities are as follows: Six Months Ended June 30, (In thousands) 2016 2015 Supplemental cash flow information Cash paid during the period for interest $ 15,745 $ 13,569 Non-cash investing and financing activities Change in accrued additions to electric plant 1,544 5,475 Allowance for funds used during construction - debt 1,779 919 Net non-cash equity issuances related to the Merger and Reorganization — 97,193 Net non-cash noncontrolling equity issuances related to the Merger and Reorganization — 119,607 Non-cash noncontrolling interests equity issuance — 755 Dividends and distributions payable 15,158 13,634

Description of Business and P30

Description of Business and Presentation of Financial Statements - Additional Information (Details) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2016Director	Dec. 31, 2015USD ($)
Description Of Business And Presentation Of Financial Statements [Line Items]
Percentage of partnership units outstanding	71.90%
Number of directors | Director	7
Reclassification From Other Assets To Long-Term Debt
Description Of Business And Presentation Of Financial Statements [Line Items]
Retrospective change in deferred financing costs | $		$ 0.2
Hunt Consolidated Incorporation
Description Of Business And Presentation Of Financial Statements [Line Items]
Percentage of partnership units outstanding	28.10%

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)

1 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

Feb. 28, 2015

Jun. 30, 2016

Jun. 30, 2015

Mar. 31, 2015

Jun. 30, 2016

Jun. 30, 2015

Mar. 31, 2017

Mar. 31, 2016

Mar. 31, 2015

Dec. 31, 2015

Jan. 15, 2015

Jan. 01, 2015

Dec. 31, 2014

Nov. 30, 2014

Related Party Transaction [Line Items]

Due from affiliates

$ 24,600,000

$ 24,600,000

$ 31,172,000

CREZ Project

Related Party Transaction [Line Items]

Business combination, contingent consideration, cash payments

737,000,000

Hunt Utility Services L L C

Related Party Transaction [Line Items]

Payment for management fee

6,800,000

$ 5,800,000

Prepaid management fee

0

0

0

Accrued management fee

$ 0

$ 0

0

Reimbursement of annual software license and maintenance fees and other expenses

300,000

Management fee

$ 13,100,000

$ 10,000,000

Management agreement expiration date

Dec. 31, 2019

Agreement successive renewal terms

5 years

Management fee, description

The base fee and each base fee going forward for the twelve month period beginning on each April 1 thereafter will equal 1.50% of our total equity (including noncontrolling interest) as of December 31 of the immediately preceding year, subject to a $30.0 million cap, unless a greater amount is approved by a majority of our independent directors or a committee comprised solely of independent directors

Investment management fee equity multiplier

1.50%

1.50%

Management fee cap

$ 30,000,000

$ 30,000,000

Hunt Utility Services L L C | Scenario, Forecast

Related Party Transaction [Line Items]

Management fee

$ 14,000,000

Hunt Consolidated, Inc. and affiliates | Golden Spread Project

Related Party Transaction [Line Items]

Purchase price of assets sold

$ 7,000,000

Hunt Consolidated, Inc. and affiliates | Cross Valley

Related Party Transaction [Line Items]

Purchase price of assets sold

$ 34,200,000

Maximum | Hunt Utility Services L L C

Related Party Transaction [Line Items]

Reimbursement of annual software license and maintenance fees and other expenses

100,000

Sharyland

Related Party Transaction [Line Items]

Lease revenue from related party

33,800,000

$ 29,500,000

67,500,000

58,800,000

Deferred rent liability

24,000,000

24,000,000

11,500,000

Payments to acquire plant, and equipment

120,100,000

$ 121,300,000

Accounts payable and accrued liabilities

7,700,000

7,700,000

9,200,000

Due from affiliates

24,600,000

24,600,000

$ 31,200,000

Hunt-InfraREIT

Related Party Transaction [Line Items]

Common Unit, Issuance Value

$ 82,500,000

$ 82,500,000

$ 6,800,000

Percentage of capital expenditure agreed to issue upon operating partnership units

5.00%

Hunt-InfraREIT | Class A OP Units

Related Party Transaction [Line Items]

Members capital, shares issued

70,846

Merger of shares related obligation

983,418

Hunt And Affiliated Entity

Related Party Transaction [Line Items]

Aggregate legal fees

$ 100,000

$ 5,000,000

Hunt Consolidated Incorporation | Promissory Notes at 2.5% Accrued Percentage

Related Party Transaction [Line Items]

Borrowings from related parties

$ 1,000,000

Accrued interest bearing note

2.50%

Interest bearing note, maturity date

Nov. 1, 2015

Interest bearing note, maturity date, description

This note and accrued interest were repaid in February 2015 with proceeds from our IPO for a total of $1.0 million

Repayments of related party debt

$ 1,000,000

Electric Plant and Depreciati32

Electric Plant and Depreciation - Schedule of Major Classes of Electric Plant (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Electric plant:
Transmission plant	$ 1,134,030	$ 1,080,050
Distribution plant	519,953	457,988
General plant	15,951	15,655
Total plant in service	1,669,934	1,553,693
CWIP	122,612	121,602
Total electric plant	1,792,546	1,675,295
Accumulated depreciation	(252,824)	(240,764)
Electric plant, net	$ 1,539,722	$ 1,434,531

Electric Plant and Depreciati33

Electric Plant and Depreciation - Additional Information (Details) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2013USD ($)Substationsmi	Dec. 31, 2015USD ($)
Public Utility Property Plant And Equipment [Line Items]
Electric plant, net includes plant acquisition adjustments	$ 28,100			$ 28,600
Payments to acquire electric plant	$ 120,615	$ 115,627
Electric Plant Held For Future Use
Public Utility Property Plant And Equipment [Line Items]
Electric plant, transmission lines | mi			66
Electric Plant Held For Future Use | Stanton
Public Utility Property Plant And Equipment [Line Items]
Number of substations | Substations			2
Payments to acquire electric plant			$ 37,100

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	$ 138,384	$ 138,384

Other Assets - Summary of Other

Other Assets - Summary of Other Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Other Assets Noncurrent [Abstract]
Deferred financing costs, Gross Carrying Amount	$ 967	$ 967
Other regulatory assets Deferred financing costs, Gross Carrying Amount	27,761	27,112
Deferred costs recoverable in future years, Gross Carrying Amount	23,793	23,793
Other regulatory assets, Net Gross Carrying Amount	51,554	50,905
Investments, Gross Carrying Amount	2,519	2,519
Other assets, Gross Carrying Amount	55,040	54,391
Deferred financing costs, Accumulated Amortization	(300)	(204)
Other regulatory assets Deferred financing costs, Accumulated Amortization	(15,102)	(13,208)
Other regulatory assets, Net Accumulated Amortization	(15,102)	(13,208)
Other assets, Accumulated Amortization	(15,402)	(13,412)
Deferred financing costs, Net Carrying Amount	667	763
Other regulatory assets Deferred financing costs, Net Carrying Amount	12,659	13,904
Deferred costs recoverable in future years, Net Carrying Amount	23,793	23,793
Other regulatory assets, Net Carrying Amount	36,452	37,697
Investments, Net Carrying Amount	2,519	2,519
Other assets, Net Carrying Amount	$ 39,638	$ 40,979

Other Assets - Additional Infor

Other Assets - Additional Information (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015	Dec. 31, 2014
Other Assets [Line Items]
Deferred costs recoverable in future years	$ 23,793,000	$ 23,793,000
Revolving Credit Facility | Sharyland Distribution & Transmission Services
Other Assets [Line Items]
Credit facility, maximum borrowing capacity	$ 250,000,000		$ 250,000,000

Borrowings Under Credit Facil37

Borrowings Under Credit Facilities - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015	Dec. 31, 2014
Line Of Credit Facility [Line Items]
Amount of revolving credit facility under agreement	$ 0	$ 0
Line of credit facility, remaining borrowing capacity	$ 75,000,000	75,000,000
Revolving credit facility, interest rate description	a rate equal to (1) the one, two, three or six month London Interbank Offered Rate (LIBOR) plus 2.5%, or (2) a base rate (equal to the highest of (a) the Federal Funds Rate plus ½ of 1%, (b) the Bank of America prime rate and (c) LIBOR plus 1%) plus 1.5%. Letters of credit are subject to a letter of credit fee equal to the daily amount available to be drawn multiplied by 2.5%.
SDTS Credit Agreements
Line Of Credit Facility [Line Items]
Amount of revolving credit facility under agreement	$ 48,500,000	54,000,000
Line of credit facility, remaining borrowing capacity	$ 201,500,000
Revolving credit facility, interest rate description	a rate equal to either (1) a base rate, determined as the greatest of (a) the administrative agent’s prime rate, (b) the federal funds effective rate plus ½ of 1% and (c) LIBOR plus 1.00% per annum, plus a margin of either 0.75% or 1.00% per annum, depending on the total debt to capitalization ratio of SDTS on a consolidated basis or (2) LIBOR plus a margin of either 1.75% or 2.00% per annum
InfraREIT LP Revolving Credit Facility
Line Of Credit Facility [Line Items]
Amount of revolving credit facility under agreement			$ 75,000,000
Line of credit facility, remaining borrowing capacity			15,000,000
Credit facility, maturity date	Dec. 10, 2019
Revolving Credit Facility | SDTS Credit Agreements
Line Of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity	$ 250,000,000		$ 250,000,000
Credit facility, extended maturity date	Dec. 10, 2019
Revolving Credit Facility | Letter Of Credit | SDTS Credit Agreements
Line Of Credit Facility [Line Items]
Amount of revolving credit facility under agreement	$ 0	0
Line of credit facility, remaining borrowing capacity		$ 196,000,000
Credit facility, maximum borrowing capacity	$ 25,000,000
Debt, weighted average interest rate	2.21%	2.05%
Revolving Credit Facility | Swingline Loans | SDTS Credit Agreements
Line Of Credit Facility [Line Items]
Line of credit facility, remaining borrowing capacity	$ 5,000,000

Long-Term Debt - Components of

Long-Term Debt - Components of Long-Term Debt (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015	Dec. 31, 2010	Dec. 31, 2009
Debt Instrument [Line Items]
Long-term debt, Amount Outstanding	$ 721,230	$ 624,889
Less unamortized deferred financing costs	(145)	(161)
Total long-term debt, less deferred financing costs	721,085	624,728
Less current portion of long-term debt	(7,633)	(7,423)
Debt classified as long-term debt, less deferred financing costs	$ 713,452	$ 617,305
TDC [Member] | Senior Secured Notes, 8.50% [Member]
Debt Instrument [Line Items]
Long-term debt, Interest Rate	8.50%	8.50%	8.50%
Long-term debt, Amount Outstanding	$ 18,125	$ 18,750
Interest bearing note, maturity date	Dec. 30, 2020
SDTS Credit Agreements
Debt Instrument [Line Items]
Long-term debt, Amount Outstanding	$ 703,105	$ 606,139
SDTS Credit Agreements | Senior Secured Notes, 5.04% [Member]
Debt Instrument [Line Items]
Long-term debt, Interest Rate	5.04%	5.04%
Long-term debt, Amount Outstanding	$ 60,000	$ 60,000
Interest bearing note, maturity date	Jun. 20, 2018
SDTS Credit Agreements | Senior Secured Notes, 3.86% [Member]
Debt Instrument [Line Items]
Long-term debt, Interest Rate	3.86%	3.86%
Long-term debt, Amount Outstanding	$ 400,000	$ 400,000
Interest bearing note, maturity date	Dec. 3, 2025
SDTS Credit Agreements | Senior Secured Notes, 3.86% Maturing in 2026 [Member]
Debt Instrument [Line Items]
Long-term debt, Interest Rate	3.86%
Long-term debt, Amount Outstanding	$ 100,000
Interest bearing note, maturity date	Jan. 14, 2026
SDTS Credit Agreements | Senior Secured Notes, 7.25% [Member]
Debt Instrument [Line Items]
Long-term debt, Interest Rate	7.25%	7.25%		7.25%
Long-term debt, Amount Outstanding	$ 43,574	$ 44,512
Interest bearing note, maturity date	Dec. 30, 2029
SDTS Credit Agreements | Senior Secured Notes, 6.47% [Member]
Debt Instrument [Line Items]
Long-term debt, Interest Rate	6.47%	6.47%	6.47%
Long-term debt, Amount Outstanding	$ 99,531	$ 101,627
Interest bearing note, maturity date	Sep. 30, 2030

Long-Term Debt - Components o39

Long-Term Debt - Components of Long-Term Debt (Parenthetical) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2010	Dec. 31, 2009
TDC [Member] | Senior Secured Notes, 8.50% [Member]
Debt Instrument [Line Items]
Long-term debt, face amount	$ 25	$ 25
SDTS Credit Agreements | Senior Secured Notes, 5.04% [Member]
Debt Instrument [Line Items]
Long-term debt, face amount	60
SDTS Credit Agreements | Senior Secured Notes, 3.86% [Member]
Debt Instrument [Line Items]
Long-term debt, face amount	400
SDTS Credit Agreements | Senior Secured Notes, 3.86% Maturing in 2026 [Member]
Debt Instrument [Line Items]
Long-term debt, face amount	100
SDTS Credit Agreements | Senior Secured Notes, 7.25% [Member]
Debt Instrument [Line Items]
Long-term debt, face amount	53.5		$ 53.5
SDTS Credit Agreements | Senior Secured Notes, 6.47% [Member]
Debt Instrument [Line Items]
Long-term debt, face amount	$ 110	$ 110

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) - USD ($) $ in Thousands	Jan. 14, 2016	Jun. 30, 2015	Dec. 31, 2015	May 31, 2014	Jun. 30, 2016	Mar. 31, 2013	Dec. 31, 2010	Dec. 31, 2009
Debt Instrument [Line Items]
Deferred financing costs, Net Carrying Amount			$ 763		$ 667
TDC [Member] | Senior Secured Notes, 8.50% [Member]
Debt Instrument [Line Items]
Long-term debt, face amount					$ 25,000		$ 25,000
Long-term debt, stated interest rate			8.50%		8.50%		8.50%
Deferred financing costs, Net Carrying Amount			$ 200		$ 100
Interest bearing note, maturity date					Dec. 30, 2020
SDTS Credit Agreements | Series A Notes [Member]
Debt Instrument [Line Items]
Long-term debt, face amount			$ 400,000
Long-term debt, stated interest rate			3.86%
Long-Term Debt Maturity Period			10 years
Interest bearing note, maturity date					Dec. 3, 2025
SDTS Credit Agreements | Series B Notes [Member]
Debt Instrument [Line Items]
Long-term debt, face amount	$ 100,000
Long-term debt, stated interest rate	3.86%
Long-Term Debt Maturity Period	10 years
Interest bearing note, maturity date					Jan. 14, 2026
SDTS Credit Agreements | Senior Secured Notes, 7.25% [Member]
Debt Instrument [Line Items]
Long-term debt, face amount					$ 53,500			$ 53,500
Long-term debt, stated interest rate			7.25%		7.25%			7.25%
Interest bearing note, maturity date					Dec. 30, 2029
SDTS Credit Agreements | Senior Secured Notes, 6.47% [Member]
Debt Instrument [Line Items]
Long-term debt, face amount					$ 110,000		$ 110,000
Long-term debt, stated interest rate			6.47%		6.47%		6.47%
Interest bearing note, maturity date					Sep. 30, 2030
Sharyland Projects, L.L.C [Member] | Senior Secured Credit Facilities [Member]
Debt Instrument [Line Items]
Long-term debt, face amount					$ 60,000
Long-term debt, stated interest rate					5.04%
Interest bearing note, maturity date					Jun. 20, 2018
Construction-term loan						$ 447,000
Construction term loan outstanding converted into term loan				$ 407,000
Interest rate		2.44%
Sharyland Projects, L.L.C [Member] | Senior Secured Credit Facilities [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate					2.25%

Fair Value of Financial Instr41

Fair Value of Financial Instruments - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	$ 713,452	$ 617,305
Senior Secured Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	$ 721,200	$ 624,900
Debt, weighted average interest rate	4.64%	4.78%

Fair Value of Financial Instr42

Fair Value of Financial Instruments - Financial Instruments Measured at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Long-term debt	$ 721,230	$ 624,889
Level 2 | Fair Value
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Long-term debt	$ 790,687	$ 657,270

Regulatory Liability - Addition

Regulatory Liability - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Regulated Operations [Abstract]
Regulatory Liability	$ 16,024	$ 10,625

Equity - Additional Information

Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 03, 2016	Mar. 02, 2016	Jun. 05, 2015	Mar. 06, 2015	Jan. 13, 2015	Dec. 18, 2014	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Class Of Stock [Line Items]
Cash dividends declared per share to shareholders							$ 0.250	$ 0.225	$ 0.500	$ 0.625
Cash Distribution Approved on June 3, 2016
Class Of Stock [Line Items]
Cash distribution declaration date									Jun. 3, 2016
Cash distributions to unit holders, date of record									Jun. 30, 2016
Dividends Payable, date declared									Jun. 3, 2016
Dividends payable date of record									Jun. 30, 2016
Cash dividends declared per share to shareholders	$ 0.25
Cash distribution and dividend paid date									Jul. 21, 2016
Cash Distribution Approved on March 2, 2016
Class Of Stock [Line Items]
Cash distribution declaration date									Mar. 2, 2016
Cash distributions to unit holders, date of record									Mar. 31, 2016
Dividends Payable, date declared									Mar. 2, 2016
Dividends payable date of record									Mar. 31, 2016
Cash dividends declared per share to shareholders		$ 0.25
Cash distribution and dividend paid date									Apr. 21, 2016
Cash Distribution Approved on June 5, 2015
Class Of Stock [Line Items]
Cash distribution declaration date									Jun. 5, 2015
Cash distributions to unit holders, date of record									Jun. 30, 2015
Dividends Payable, date declared									Jun. 5, 2015
Dividends payable date of record									Jun. 30, 2015
Cash dividends declared per share to shareholders			$ 0.225
Cash distribution and dividend paid date									Jul. 23, 2015
Cash Distribution Approved on March 6, 2015
Class Of Stock [Line Items]
Cash distribution declaration date									Mar. 6, 2015
Cash distributions to unit holders, date of record									Mar. 31, 2015
Dividends Payable, date declared									Mar. 6, 2015
Dividends payable date of record									Mar. 31, 2015
Cash dividends declared per share to shareholders				$ 0.14
Cash distribution and dividend paid date									Apr. 23, 2015
Cash Distribution Approved on January 13, 2015
Class Of Stock [Line Items]
Cash distribution declaration date									Jan. 13, 2015
Cash distributions to unit holders, date of record									Jan. 20, 2015
Dividends Payable, date declared									Jan. 13, 2015
Dividends payable date of record									Jan. 20, 2015
Cash dividends declared per share to shareholders					$ 0.26
Cash distribution and dividend paid date									Jan. 29, 2015
Cash Distribution Approved on December 18, 2014
Class Of Stock [Line Items]
Cash distribution declaration date									Dec. 18, 2014
Cash distributions to unit holders, date of record									Dec. 18, 2014
Dividends Payable, date declared									Dec. 18, 2014
Dividends payable date of record									Dec. 18, 2014
Cash dividends declared per share to shareholders						$ 0.31
Cash distribution and dividend paid date									Jan. 16, 2015
Accumulated Deficit | Cash Distribution Approved on June 3, 2016
Class Of Stock [Line Items]
Cash dividends declared to shareholders	$ 10.9
Accumulated Deficit | Cash Distribution Approved on March 2, 2016
Class Of Stock [Line Items]
Cash dividends declared to shareholders		$ 10.9
Accumulated Deficit | Cash Distribution Approved on June 5, 2015
Class Of Stock [Line Items]
Cash dividends declared to shareholders			$ 9.8
Accumulated Deficit | Cash Distribution Approved on March 6, 2015
Class Of Stock [Line Items]
Cash dividends declared to shareholders				$ 6.1
Accumulated Deficit | Cash Distribution Approved on January 13, 2015
Class Of Stock [Line Items]
Cash dividends declared to shareholders					$ 9
Accumulated Deficit | Cash Distribution Approved on December 18, 2014
Class Of Stock [Line Items]
Cash dividends declared to shareholders						$ 10.8
InfraREIT, L.L.C. | Cash Distribution Approved on June 3, 2016
Class Of Stock [Line Items]
Cash distributions declared to unit holders, per unit	$ 0.25
Cash distribution to unit holders	$ 15.2
InfraREIT, L.L.C. | Cash Distribution Approved on March 2, 2016
Class Of Stock [Line Items]
Cash distributions declared to unit holders, per unit		$ 0.25
Cash distribution to unit holders		$ 15.2
InfraREIT, L.L.C. | Cash Distribution Approved on June 5, 2015
Class Of Stock [Line Items]
Cash distributions declared to unit holders, per unit			$ 0.225
Cash distribution to unit holders			$ 13.6
InfraREIT, L.L.C. | Cash Distribution Approved on March 6, 2015
Class Of Stock [Line Items]
Cash distributions declared to unit holders, per unit				$ 0.14
Cash distribution to unit holders				$ 8.5
InfraREIT, L.L.C. | Cash Distribution Approved on January 13, 2015
Class Of Stock [Line Items]
Cash distributions declared to unit holders, per unit					$ 0.26
Cash distribution to unit holders					$ 11.7
InfraREIT, L.L.C. | Cash Distribution Approved on December 18, 2014
Class Of Stock [Line Items]
Cash distributions declared to unit holders, per unit						$ 0.31
Cash distribution to unit holders						$ 14.1
InfraREIT, L.L.C. | Accumulated Deficit | Cash Distribution Approved on June 3, 2016
Class Of Stock [Line Items]
Cash dividends declared to shareholders	$ 10.9
InfraREIT, L.L.C. | Accumulated Deficit | Cash Distribution Approved on March 2, 2016
Class Of Stock [Line Items]
Cash dividends declared to shareholders		$ 10.9
InfraREIT, L.L.C. | Accumulated Deficit | Cash Distribution Approved on June 5, 2015
Class Of Stock [Line Items]
Cash dividends declared to shareholders			$ 9.8
InfraREIT, L.L.C. | Accumulated Deficit | Cash Distribution Approved on March 6, 2015
Class Of Stock [Line Items]
Cash dividends declared to shareholders				$ 6.1
InfraREIT, L.L.C. | Accumulated Deficit | Cash Distribution Approved on January 13, 2015
Class Of Stock [Line Items]
Cash dividends declared to shareholders					$ 9
InfraREIT, L.L.C. | Accumulated Deficit | Cash Distribution Approved on December 18, 2014
Class Of Stock [Line Items]
Cash dividends declared to shareholders						$ 10.8

Noncontrolling Interest - Addit

Noncontrolling Interest - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Minority Interest [Line Items]
Description of units redeemed for cash or, at option, exchanged for common shares	one-for-one basis
OP Units held by the limited partners	17,100,000		17,000,000
Class A OP Units
Minority Interest [Line Items]
Shares purchased consideration for promissory note			6,242,999
Principal amount of shares purchased consideration for promissory note			$ 66.5
Class A OP Units | Hunt-InfraREIT
Minority Interest [Line Items]
Operating partnership units redeem	0		1,551,878
Common shares received			1,551,878
LTIP Units
Minority Interest [Line Items]
Operating partnership units issued	29,722	28,000

Earnings Per Share - Computatio

Earnings Per Share - Computation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Basic net income per share:
Net income (loss) attributable to InfraREIT, Inc.	$ 6,608	$ 6,362	$ 12,923	$ (20,511)
Weighted average common shares outstanding	43,576	43,565	43,573	42,391
Basic net income (loss) per share	$ 0.15	$ 0.15	$ 0.30	$ (0.48)
Diluted net income per share:
Net income (loss) attributable to InfraREIT, Inc.	$ 6,608	$ 6,362	$ 12,923	$ (20,511)
Weighted average common shares outstanding	43,576	43,565	43,573	42,391
Weighted average dilutive shares outstanding	43,576	43,565	43,573	42,391
Diluted net income (loss) per share	$ 0.15	$ 0.15	$ 0.30	$ (0.48)
Due to the anti-dilutive effect, the computation of diluted earnings per share does not reflect the following adjustments:
Net income (loss) attributable to noncontrolling interest	$ 2,576	$ 2,481	$ 5,038	$ (6,519)
Redemption of operating partnership units	17,058	17,028	17,057	15,424

Leases - Schedule of Compositio

Leases - Schedule of Composition of Lease Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Leases [Abstract]
Base rent (straight-line)	$ 33,785	$ 29,458	$ 67,450	$ 58,830
Total lease revenue	$ 33,785	$ 29,458	$ 67,450	$ 58,830

Leases - Additional Information

Leases - Additional Information (Details)	6 Months Ended
	Jun. 30, 2016
Operating Leased Assets [Line Items]
Operating leases placed in services dates description	SDTS has entered into various leases with Sharyland for all of our placed in service T&D assets. The master lease agreements, as amended, expire at various dates from December 31, 2017 through December 31, 2022.
Lease expiration date range, start date	Dec. 31, 2017
Lease expiration date range, end date	Dec. 31, 2022
Maximum
Operating Leased Assets [Line Items]
Rate of rent used, Percentage	37.00%
Minimum
Operating Leased Assets [Line Items]
Rate of rent used, Percentage	23.00%

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended			3 Months Ended		6 Months Ended
	Apr. 30, 2016	Jan. 31, 2016	Feb. 28, 2015	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
LTIP Units
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Operating partnership units issued						29,722	28,000
2015 Equity Incentive Plan | General And Administrative Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Compensation Expenses				$ 0.2	$ 0.2	$ 0.5	$ 0.3
2015 Equity Incentive Plan | Director
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Aggregate common stock shares issued to directors	5,497	4,735
Grant date fair value per share	$ 16.81
Grant date fair value	$ 0.1
2015 Equity Incentive Plan | Director | LTIP Units
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
LTIP Units issued to directors		29,722
Grant date fair value per share		$ 18.58	$ 26.41
Grant date fair value		$ 0.6
Vesting period of LTIP Units		Jan. 1, 2017
Operating partnership units issued			28,000

Supplemental Cash Flow Inform50

Supplemental Cash Flow Information - Supplemental Cash Flow Information and Non-cash Investing and Financing Activities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Supplemental cash flow information
Cash paid during the period for interest	$ 15,745	$ 13,569
Non-cash investing and financing activities
Change in accrued additions to electric plant	1,544	5,475
Allowance for funds used during construction - debt	1,779	919
Net non-cash equity issuances related to the Merger and Reorganization		97,193
Net non-cash noncontrolling equity issuances related to the Merger and Reorganization		119,607
Non-cash noncontrolling interests equity issuance		755
Dividends and distributions payable	$ 15,158	$ 13,634	$ 13,634