SAB Topic 10.C (codified as ASC 980-360-S99-1) requires a participating utility with an interest in joint plant to disclose the extent of its interest(s). The disclosure should include a table that presents the following amounts separately for each interest:

Public utilities may further disaggregate amounts presented for plant in service or plant under construction to show amounts applicable to plant subcategories such as production, transmission, and distribution. Information concerning two or more generating plants on the same site may be combined if appropriate (e.g., the level of ownership interests is similar). The disclosure should specifically state that the dollar amounts disclosed represent the participating utility’s share in each joint plant and that each participant is responsible for its own financing.

According to SAB topic 10.C, the disclosure should also state that the public utility’s share of direct expenses of the joint plant is included in the corresponding category of operating expenses in the income statement (e.g., fuel, maintenance of plant, other operating expense). Alternatively, if a public utility classifies its share of direct expenses as part of purchased power, it should disclose the amount included in purchased power as well as the proportionate amounts charged to specific operating expenses in the joint plant’s records.

A public utility should also disclose any commitments or unconditional purchase obligations relating to its share of joint plant contracts in its disclosure of long-term commitments in accordance with ASC 440, Commitments, as applicable.