Regulatory Matters and Accounting for Regulatory Activities

Regulatory Assets and Liabilities

Regulatory assets and liabilities represent probable future revenues or expenses associated with certain charges and credits that will be recovered from or refunded to customers through the ratemaking process. We included the amounts of our regulatory assets and liabilities within “Other current assets,” “Deferred charges and other assets,” “Accrued other current liabilities,” and “Other long-term liabilities and deferred credits” respectively, in our accompanying consolidated balance sheets. The recovery period for these regulatory assets is approximately one year to forty-three years.

The following table summarizes our regulatory asset and liability balances (in millions):



	March 31, 2013		December 31, 2012
Current regulatory assets	$	73	$	62
Non-current regulatory assets	393		402
Total Regulatory Assets	$	466	$	464

Current regulatory liabilities	$	7	$	7
Non-current regulatory liabilities	104		113
Total Regulatory Liabilities	$	111	$	120

More information about our regulatory matters can be found in Note 17 “Regulatory Matters” to our consolidated financial statements that were included in our 2012 Form 10-K.