v2.4.0.6

Derivative instruments and hedging activities (Tables)

3 Months Ended

Mar. 31, 2013

Derivative instruments and hedging activities

Schedule of notional volumes of forecasted transactions

		Units		March 31, 2013			December 31, 2012
Natural gas swaps		Natural Gas (MMBtu)			8.6			10.6
Gas purchase agreements		Natural Gas (GJ)			46.8			49.8
Interest rate swaps		Interest (US$)			170.6			172.0
Foreign currency forwards		Cdn$			153.7			176.6

Schedule of fair value of derivative instruments

		March 31, 2013
		Derivative Assets			Derivative Liabilities
		(in millions)
Derivative instruments designated as cash flow hedges:
Interest rate swaps current		$	—		$	1.3
Interest rate swaps long-term			—			4.7
Total derivative instruments designated as cash flow hedges			—			6.0
Derivative instruments not designated as cash flow hedges:
Interest rate swaps current			—			9.6
Interest rate swaps long-term			0.4			21.7
Foreign currency forward contracts current			8.9			0.1
Foreign currency forward contracts long-term			5.7			0.1
Natural gas swaps current			0.2			0.3
Natural gas swaps long-term			0.2			3.4
Gas purchase agreements current			—			14.7
Gas purchase agreements long-term			—			80.8
Total derivative instruments not designated as cash flow hedges			15.4			130.7
Total derivative instruments		$	15.4		$	136.7

		December 31, 2012
		Derivative Assets			Derivative Liabilities
Derivative instruments designated as cash flow hedges:
Interest rate swaps current		$	—		$	1.3
Interest rate swaps long-term			—			5.2
Total derivative instruments designated as cash flow hedges			—			6.5
Derivative instruments not designated as cash flow hedges:
Interest rate swaps current			—			7.3
Interest rate swaps long-term			0.1			27.7
Foreign currency forward contracts current			9.5			—
Foreign currency forward contracts long-term			11.0			—
Natural gas swaps current			—			—
Natural gas swaps long-term			0.1			3.9
Gas purchase agreements current			0.1			24.5
Gas purchase agreements long-term			—			81.4
Total derivative instruments not designated as cash flow hedges			20.8			144.8
Total derivative instruments		$	20.8		$	151.3

Schedule of changes in OCI attributable to derivative financial instruments

For the three months ended March 31, 2013		Interest Rate Swaps			Natural Gas Swaps			Total
		(in millions)
Accumulated OCI balance at December 31, 2012		$	(1.5	)	$	0.1		$	(1.4	)
Realized from OCI during the period			0.3			—			0.3
Accumulated OCI balance at March 31, 2013		$	(1.2	)	$	0.1		$	(1.1	)

For the three months ended March 31, 2012		Interest Rate Swaps			Natural Gas Swaps			Total
Accumulated OCI balance at December 31, 2011		$	(1.7	)	$	0.3		$	(1.4	)
Realized from OCI during the period			0.3			—			0.3
Accumulated OCI balance at March 31, 2012		$	(1.4	)	$	0.3		$	(1.1	)

Realized (gains) and losses

Gains and losses for derivative instruments

Schedule of gains and losses for derivative instruments not designated as cash flow hedges

				Three months ended March 31,
		Classification of (gain) loss recognized in income
				2013			2012
Gas purchase agreements		Fuel		$	16.3		$	10.8
Foreign currency forwards		Foreign exchange loss (gain)			(2.5	)		(11.9	)
Interest rate swaps		Interest, net			2.6			1.1

Unrealized gains and losses

Gains and losses for derivative instruments

Schedule of gains and losses for derivative instruments not designated as cash flow hedges

				Three months ended March 31,
		Classification of (gain) loss recognized in income
				2013			2012
Natural gas swaps		Change in fair value of derivatives		$	(0.4	)	$	0.9
Gas purchase agreements		Change in fair value of derivatives			(8.1	)		57.9
Interest rate swaps		Change in fair value of derivatives			(4.1	)		(1.6	)
Total change in fair value of derivative instruments				$	(12.6	)	$	57.2
Foreign currency forwards		Foreign exchange loss (gain)		$	6.0		$	9.2

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Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period.

+ References

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 205G

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

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-Section 50

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-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959



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-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 44C

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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Tabular disclosure of the notional amounts of outstanding derivative positions.

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Tabular disclosure for other derivative instruments not designated as hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

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-Section 50

-Paragraph 4C

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