Summary of Significant Accounting and Reporting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES Restricted Cash - At September 30, 2015 and December 31, 2014 , approximately $13 million and $55 million , respectively, of current restricted cash on NEP's condensed consolidated balance sheets represents cash to fund certain construction costs. In addition, at December 31, 2014 approximately $22 million of current restricted cash, also included in due to related parties on NEP's condensed consolidated balance sheets, represents CITC proceeds due to NEECH. The remaining current restricted cash and approximately $3 million o f other non-current assets on NEPās condensed consolidated balance sheets as of both September 30, 2015 and December 31, 2014 , are held by subsidiaries to pay for certain capital or operating expenditures as well as to fund required equity contributions pursuant to restrictions contained in the debt agreements. Restricted cash reported as current assets are recorded as such based on the anticipated use of these funds. Revenue Recognition - In July 2015, the Financial Accounting Standards Board (FASB) approved the deferral of the effective date of the new accounting standard related to the recognition of revenue from contracts with customers and required disclosures. The standard is now effective for NEP beginning January 1, 2018. NEP is currently evaluating the effect the adoption of this standard will have, if any, on its financial statements. Noncontrolling Interests - After the completion of NEP's IPO, NEP owned a controlling, non-economic general partnership interest and a 20.1% limited partnership interest in NEP OpCo and NEE Equity owned a noncontrolling 79.9% limited partnership interest in NEP OpCo. NEP's limited partnership interest in NEP OpCo increased to 22.6% as of September 30, 2015 . See Equity below. The following table reflects the changes in NEP's noncontrolling interest balance: Nine Months Ended September 30, 2015 2014 (a) (millions) Noncontrolling interest at December 31, 2014 (b) and December 31, 2013 $ 732 $ ā Payments to NEE for acquisitions of projects (716 ) (288 ) NEE purchase of NEP OpCo's common units 702 ā Cash distributions (47 ) ā Noncash distributions (7 ) ā Member contributions, net (c) 103 1,372 Comprehensive income attributable to noncontrolling interest, including pre-acquisition net income of the 2015 acquisitions 21 14 Noncash member contribution upon transition from predecessor method 3 (60 ) Noncontrolling interest at September 30 $ 791 $ 1,038 ____________________ (a) Prior-period financial information has been retrospectively adjusted as discussed in Note 2. (b) As reported in the 2014 Consolidated Financial Statements. (c) For 2015, primarily construction-related contributions between January 1, 2015 and the respective acquisition dates. Equity - In May 2015, NEP completed the sale of 2,594,948 common units representing limited partnership interests in NEP in a private placement for an aggregate purchase price of approximately $109 million , or $41.87 per common unit. NEP used the proceeds, net of approximately $3 million in fees and expenses relating to the offering, from this private placement to fund a portion of the purchase price payable in the May 2015 project acquisitions discussed in Note 2. The issuance of these additional common units resulted in an increase of NEP's limited partnership interest in NEP OpCo to 22.2% . In September 2015, NEP completed the sale of 8,375,907 common units representing limited partnership interests in NEP in a public offering for an aggregate purchase price of approximately $218 million , or $26.00 per common unit. NEP used the proceeds, net of approximately $5 million in fees and expenses relating to the offering, to repay amounts owed under the $313 million term loan. Also in September 2015, a subsidiary of NEE purchased 27,000,000 of NEP OpCo's common units for $702 million . Approximately $110 million of the proceeds were used to repay amounts owed under the $313 million term loan and the balance of the proceeds was used to finance a portion of the acquisition of NET Midstream discussed in Note 2 and for general partnership purposes. After giving effect to the issuance of the NEP common units and the sale of NEP OpCo common units to NEE, NEP's limited partnership interest in NEP OpCo is 22.6% as of September 30, 2015. On October 28, 2015, NEP announced a distribution of $0.27 per common unit payable on November 13, 2015 to its unitholders of record on November 5, 2015. Variable Interest Entities (VIEs) - At September 30, 2015 , NEP has two VIEs which it consolidates. Certain investors that hold no equity interest in these VIEs hold differential membership interests, which give them the right to receive a portion of the economic attributes of these wind electric generating facilities, including certain tax attributes. The assets and liabilities of the VIEs, consisting primarily of property, plant and equipment and deferral related to differential membership interests, totaled approximately $758 million and $464 million at September 30, 2015 , respectively, and approximately $812 million and $555 million at December 31, 2014 , respectively. At September 30, 2015 and December 31, 2014 , the equity investment described in Note 2 totaled approximately $18 million and $19 million , respectively, and is reflected as investments in equity method investees - VIEs on the condensed consolidated balance sheets and is attributable to the noncontrolling interest. All equity in earnings of the equity method investees is allocated to net income attributable to noncontrolling interest. NEP is not the primary beneficiary and therefore does not consolidate these entities because it does not control any of the ongoing activities of these entities, was not involved in the initial design of these entities and does not have a controlling interest in these entities. Amendments to the Consolidation Analysis - In February 2015, the FASB issued a new accounting standard that will modify current consolidation guidance. The standard makes changes to both the variable interest entity model and the voting interest entity model, including modifying the evaluation of whether limited partnerships or similar legal entities are VIEs or voting interest entities and amending the guidance for assessing how relationships of related parties affect the consolidation analysis of VIEs. The standard is effective for NEP beginning January 1, 2016. NEP is currently evaluating the effect the adoption of this standard will have, if any, on its consolidated financial statements. Presentation of Debt Issuance Costs - In April 2015, the FASB issued a new accounting standard which changes the presentation of debt issuance costs in financial statements. The amendments in this standard require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this standard. The standard is effective for NEP beginning January 1, 2016. NEP is currently evaluating the effect the adoption of this standard will have on its consolidated financial statements. |