XML 85 R52.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Fair Value Measurements (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2016
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following tables present information about PSEG’s, PSE&G’s and Power’s respective assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2016 and December 31, 2015, including the fair value measurements and the levels of inputs used in determining those fair values. Amounts shown for PSEG include the amounts shown for PSE&G and Power.
|  |  | Recurring Fair Value Measurements as of December 31, 2016 |
| Description |  | Total |  | Netting (E) |  | Quoted Market Prices for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |
|  |  | Millions |
| PSEG |  |  |  |  |  |  |  |  |  |  |
| Assets: |  |  |  |  |  |  |  |  |  |  |
| Cash Equivalents (A) |  | $ | 365 |  |  | $ | — |  |  | $ | 365 |  |  | $ | — |  |  | $ | — |  |
| Derivative Contracts: |  |  |  |  |  |  |  |  |  |  |
| Energy-Related Contracts (B) |  | $ | 186 |  |  | $ | (371 | ) |  | $ | 17 |  |  | $ | 533 |  |  | $ | 7 |  |
| Interest Rate Swaps (C) |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |
| NDT Fund (D) |  |  |  |  |  |  |  |  |  |  |
| Equity Securities |  | $ | 957 |  |  | $ | — |  |  | $ | 954 |  |  | $ | 3 |  |  | $ | — |  |
| Debt Securities—US Treasury |  | $ | 227 |  |  | $ | — |  |  | $ | — |  |  | $ | 227 |  |  | $ | — |  |
| Debt Securities—Govt Other |  | $ | 293 |  |  | $ | — |  |  | $ | — |  |  | $ | 293 |  |  | $ | — |  |
| Debt Securities—Corporate |  | $ | 337 |  |  | $ | — |  |  | $ | — |  |  | $ | 337 |  |  | $ | — |  |
| Other Securities |  | $ | 44 |  |  | $ | — |  |  | $ | 44 |  |  | $ | — |  |  | $ | — |  |
| Rabbi Trust (D) |  |  |  |  |  |  |  |  |  |  |
| Equity Securities—Mutual Funds |  | $ | 22 |  |  | $ | — |  |  | $ | 22 |  |  | $ | — |  |  | $ | — |  |
| Debt Securities—US Treasury |  | $ | 37 |  |  | $ | — |  |  | $ | — |  |  | $ | 37 |  |  | $ | — |  |
| Debt Securities—Govt Other |  | $ | 66 |  |  | $ | — |  |  | $ | — |  |  | $ | 66 |  |  | $ | — |  |
| Debt Securities—Corporate |  | $ | 91 |  |  | $ | — |  |  | $ | — |  |  | $ | 91 |  |  | $ | — |  |
| Other Securities |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |
| Liabilities: |  |  |  |  |  |  |  |  |  |  |
| Derivative Contracts: |  |  |  |  |  |  |  |  |  |  |
| Energy-Related Contracts (B) |  | $ | (16 | ) |  | $ | 372 |  |  | $ | (18 | ) |  | $ | (364 | ) |  | $ | (6 | ) |
| PSE&G |  |  |  |  |  |  |  |  |  |  |
| Assets: |  |  |  |  |  |  |  |  |  |  |
| Cash Equivalents (A) |  | $ | 365 |  |  | $ | — |  |  | $ | 365 |  |  | $ | — |  |  | $ | — |  |
| Derivative Contracts: |  |  |  |  |  |  |  |  |  |  |
| Energy Related Contracts (B) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |
| Rabbi Trust (D) |  |  |  |  |  |  |  |  |  |  |
| Equity Securities—Mutual Funds |  | $ | 5 |  |  | $ | — |  |  | $ | 5 |  |  | $ | — |  |  | $ | — |  |
| Debt Securities—US Treasury |  | $ | 7 |  |  | $ | — |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |  |
| Debt Securities—Govt Other |  | $ | 13 |  |  | $ | — |  |  | $ | — |  |  | $ | 13 |  |  | $ | — |  |
| Debt Securities—Corporate |  | $ | 18 |  |  | $ | — |  |  | $ | — |  |  | $ | 18 |  |  | $ | — |  |
| Other Securities |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |
| Liabilities: |  |  |  |  |  |  |  |  |  |  |
| Derivative Contracts: |  |  |  |  |  |  |  |  |  |  |
| Energy-Related Contracts (B) |  | $ | (5 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (5 | ) |
| Power |  |  |  |  |  |  |  |  |  |  |
| Assets: |  |  |  |  |  |  |  |  |  |  |
| Derivative Contracts: |  |  |  |  |  |  |  |  |  |  |
| Energy-Related Contracts (B) |  | $ | 186 |  |  | $ | (371 | ) |  | $ | 17 |  |  | $ | 533 |  |  | $ | 7 |  |
| NDT Fund (D) |  |  |  |  |  |  |  |  |  |  |
| Equity Securities |  | $ | 957 |  |  | $ | — |  |  | $ | 954 |  |  | $ | 3 |  |  | $ | — |  |
| Debt Securities—US Treasury |  | $ | 227 |  |  | $ | — |  |  | $ | — |  |  | $ | 227 |  |  | $ | — |  |
| Debt Securities—Govt Other |  | $ | 293 |  |  | $ | — |  |  | $ | — |  |  | $ | 293 |  |  | $ | — |  |
| Debt Securities—Corporate |  | $ | 337 |  |  | $ | — |  |  | $ | — |  |  | $ | 337 |  |  | $ | — |  |
| Other Securities |  | $ | 44 |  |  | $ | — |  |  | $ | 44 |  |  | $ | — |  |  | $ | — |  |
| Rabbi Trust (D) |  |  |  |  |  |  |  |  |  |  |
| Equity Securities—Mutual Funds |  | $ | 5 |  |  | $ | — |  |  | $ | 5 |  |  | $ | — |  |  | $ | — |  |
| Debt Securities—US Treasury |  | $ | 9 |  |  | $ | — |  |  | $ | — |  |  | $ | 9 |  |  | $ | — |  |
| Debt Securities—Govt Other |  | $ | 16 |  |  | $ | — |  |  | $ | — |  |  | $ | 16 |  |  | $ | — |  |
| Debt Securities—Corporate |  | $ | 23 |  |  | $ | — |  |  | $ | — |  |  | $ | 23 |  |  | $ | — |  |
| Other Securities |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |
| Liabilities: |  |  |  |  |  |  |  |  |  |  |
| Derivative Contracts: |  |  |  |  |  |  |  |  |  |  |
| Energy-Related Contracts (B) |  | $ | (11 | ) |  | $ | 372 |  |  | $ | (18 | ) |  | $ | (364 | ) |  | $ | (1 | ) |
|  |  | Recurring Fair Value Measurements as of December 31, 2015 |
| Description |  | Total |  | Netting (E) |  | Quoted Market Prices for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |
|  |  | Millions |
| PSEG |  |  |  |  |  |  |  |  |  |  |
| Assets: |  |  |  |  |  |  |  |  |  |  |
| Cash Equivalents (A) |  | $ | 326 |  |  | $ | — |  |  | $ | 326 |  |  | $ | — |  |  | $ | — |  |
| Derivative Contracts: |  |  |  |  |  |  |  |  |  |  |
| Energy-Related Contracts (B) |  | $ | 313 |  |  | $ | (608 | ) |  | $ | — |  |  | $ | 896 |  |  | $ | 25 |  |
| Interest Rate Swaps (C) |  | $ | 6 |  |  | $ | — |  |  | $ | — |  |  | $ | 6 |  |  | $ | — |  |
| NDT Fund (D) |  |  |  |  |  |  |  |  |  |  |
| Equity Securities |  | $ | 865 |  |  | $ | — |  |  | $ | 865 |  |  | $ | — |  |  | $ | — |  |
| Debt Securities—US Treasury |  | $ | 177 |  |  | $ | — |  |  | $ | — |  |  | $ | 177 |  |  | $ | — |  |
| Debt Securities—Govt Other |  | $ | 311 |  |  | $ | — |  |  | $ | — |  |  | $ | 311 |  |  | $ | — |  |
| Debt Securities—Corporate |  | $ | 359 |  |  | $ | — |  |  | $ | — |  |  | $ | 359 |  |  | $ | — |  |
| Other Securities |  | $ | 42 |  |  | $ | — |  |  | $ | 42 |  |  | $ | — |  |  | $ | — |  |
| Rabbi Trust (D) |  |  |  |  |  |  |  |  |  |  |
| Equity Securities—Mutual Funds |  | $ | 22 |  |  | $ | — |  |  | $ | 22 |  |  | $ | — |  |  | $ | — |  |
| Debt Securities—US Treasury |  | $ | 48 |  |  | $ | — |  |  | $ | — |  |  | $ | 48 |  |  | $ | — |  |
| Debt Securities—Govt Other |  | $ | 60 |  |  | $ | — |  |  | $ | — |  |  | $ | 60 |  |  | $ | — |  |
| Debt Securities—Corporate |  | $ | 81 |  |  | $ | — |  |  | $ | — |  |  | $ | 81 |  |  | $ | — |  |
| Other Securities |  | $ | 2 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |  |
| Liabilities: |  |  |  |  |  |  |  |  |  |  |
| Derivative Contracts: |  |  |  |  |  |  |  |  |  |  |
| Energy-Related Contracts (B) |  | $ | (103 | ) |  | $ | 553 |  |  | $ | — |  |  | $ | (644 | ) |  | $ | (12 | ) |
| PSE&G |  |  |  |  |  |  |  |  |  |  |
| Assets: |  |  |  |  |  |  |  |  |  |  |
| Cash Equivalents (A) |  | $ | 160 |  |  | $ | — |  |  | $ | 160 |  |  | $ | — |  |  | $ | — |  |
| Derivative Contracts: |  |  |  |  |  |  |  |  |  |  |
| Energy Related Contracts (B) |  | $ | 13 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 13 |  |
| Rabbi Trust (D) |  |  |  |  |  |  |  |  |  |  |
| Equity Securities—Mutual Funds |  | $ | 5 |  |  | $ | — |  |  | $ | 5 |  |  | $ | — |  |  | $ | — |  |
| Debt Securities—US Treasury |  | $ | 9 |  |  | $ | — |  |  | $ | — |  |  | $ | 9 |  |  | $ | — |  |
| Debt Securities—Govt Other |  | $ | 12 |  |  | $ | — |  |  | $ | — |  |  | $ | 12 |  |  | $ | — |  |
| Debt Securities—Corporate |  | $ | 16 |  |  | $ | — |  |  | $ | — |  |  | $ | 16 |  |  | $ | — |  |
| Other Securities |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |
| Liabilities: |  |  |  |  |  |  |  |  |  |  |
| Derivative Contracts: |  |  |  |  |  |  |  |  |  |  |
| Energy-Related Contracts (B) |  | $ | (11 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (11 | ) |
| Power |  |  |  |  |  |  |  |  |  |  |
| Assets: |  |  |  |  |  |  |  |  |  |  |
| Derivative Contracts: |  |  |  |  |  |  |  |  |  |  |
| Energy-Related Contracts (B) |  | $ | 300 |  |  | $ | (608 | ) |  | $ | — |  |  | $ | 896 |  |  | $ | 12 |  |
| NDT Fund (D) |  |  |  |  |  |  |  |  |  |  |
| Equity Securities |  | $ | 865 |  |  | $ | — |  |  | $ | 865 |  |  | $ | — |  |  | $ | — |  |
| Debt Securities—US Treasury |  | $ | 177 |  |  | $ | — |  |  | $ | — |  |  | $ | 177 |  |  | $ | — |  |
| Debt Securities—Govt Other |  | $ | 311 |  |  | $ | — |  |  | $ | — |  |  | $ | 311 |  |  | $ | — |  |
| Debt Securities—Corporate |  | $ | 359 |  |  | $ | — |  |  | $ | — |  |  | $ | 359 |  |  | $ | — |  |
| Other Securities |  | $ | 42 |  |  | $ | — |  |  | $ | 42 |  |  | $ | — |  |  | $ | — |  |
| Rabbi Trust (D) |  |  |  |  |  |  |  |  |  |  |
| Equity Securities—Mutual Funds |  | $ | 5 |  |  | $ | — |  |  | $ | 5 |  |  | $ | — |  |  | $ | — |  |
| Debt Securities—US Treasury |  | $ | 12 |  |  | $ | — |  |  | $ | — |  |  | $ | 12 |  |  | $ | — |  |
| Debt Securities—Govt Other |  | $ | 14 |  |  | $ | — |  |  | $ | — |  |  | $ | 14 |  |  | $ | — |  |
| Debt Securities—Corporate |  | $ | 20 |  |  | $ | — |  |  | $ | — |  |  | $ | 20 |  |  | $ | — |  |
| Other Securities |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |
| Liabilities: |  |  |  |  |  |  |  |  |  |  |
| Derivative Contracts: |  |  |  |  |  |  |  |  |  |  |
| Energy-Related Contracts (B) |  | $ | (92 | ) |  | $ | 553 |  |  | $ | — |  |  | $ | (644 | ) |  | $ | (1 | ) |
(A) | Represents money market mutual funds.
(B) | Level 1—During 2016 a net fair value of $1 million relating to energy-related contracts was transferred from Level 2 into Level 1. These contracts represent natural gas futures contracts executed on NYMEX, and are being valued solely on settled pricing inputs which come directly from the exchange.
Level 2—Fair values for energy-related contracts are obtained primarily using a market-based approach. Most derivative contracts (forward purchase or sale contracts and swaps) are valued using settled prices from an exchange, such as NYMEX, Intercontinental Exchange and Nodal Exchange, or auction prices. Prices used in the valuation process are also corroborated independently by management to determine that values are based on actual transaction data or, in the absence of transactions, bid and offers for the day. Examples may include certain exchange and non-exchange traded capacity and electricity contracts and natural gas physical or swap contracts based on market prices, basis adjustments and other premiums where adjustments and premiums are not considered significant to the overall inputs. Level 3—For energy-related contracts, which include more complex agreements where limited observable inputs or pricing information are available, modeling techniques are employed using assumptions reflective of contractual terms, current market rates, forward price curves, discount rates and risk factors, as applicable. Fair values of other energy contracts may be based on broker quotes that we cannot corroborate with actual market transaction data.
(C) | Interest rate swaps are valued using quoted prices on commonly quoted intervals, which are interpolated for periods different than the quoted intervals, as inputs to a market valuation model. Market inputs can generally be verified and model selection does not involve significant management judgment.
(D) | The fair value measurement table excludes cash of $1 million which is part of the NDT Fund, The NDT Fund maintains investments in various equity and fixed income securities classified as “available for sale.” The Rabbi Trust maintains investments in an S&P 500 index fund and various fixed income securities classified as “available for sale.” These securities are generally valued with prices that are either exchange provided (equity securities) or market transactions for comparable securities and/or broker quotes (fixed income securities).
Level 1—Investments in marketable equity securities within the NDT Fund are primarily investments in common stocks across a broad range of industries and sectors. Most equity securities are priced utilizing the principal market close price or, in some cases, midpoint, bid or ask price. Certain open-ended mutual funds with mainly short-term investments are valued based on unadjusted quoted prices in active markets. The Rabbi Trust equity index fund is valued based on quoted prices in an active market. Level 2—NDT and Rabbi Trust fixed income securities include investment grade corporate bonds, collateralized mortgage obligations, asset-backed securities and certain government and US Treasury obligations or Federal Agency asset-backed securities and municipal bonds with a wide range of maturities. Since many fixed income securities do not trade on a daily basis, they are priced using an evaluated pricing methodology that varies by asset class and reflects observable market information such as the most recent exchange price or quoted bid for similar securities. Market-based standard inputs typically include benchmark yields, reported trades, broker/dealer quotes and issuer spreads. The preferred stocks are not actively traded on a daily basis and therefore, are also priced using an evaluated pricing methodology. Certain short-term investments are valued using observable market prices or market parameters such as time-to-maturity, coupon rate, quality rating and current yield.
(E) | Represents the netting of fair value balances with the same counterparty (where the right of offset exists) and the application of collateral. All cash collateral received or posted that has been allocated to derivative positions, where the right of offset exists, has been offset in the Condensed Consolidated Balance Sheets. As of December 31, 2016, net cash collateral (received) paid of $1 million was netted against the corresponding net derivative contract positions. Of the $1 million of cash collateral as of December 31, 2016, $(3) million was netted against assets, and $4 million was netted against liabilities. As of December 31, 2015, net cash collateral (received) paid of $(55) million was netted against the corresponding net derivative contract positions. Of the $(55) million of cash collateral as of December 31, 2015, $(69) million was netted against assets and $14 million was netted against liabilities.
Schedule Of Quantitative Information About Level 3 Fair Value Measurements | following tables provide details surrounding significant Level 3 valuations as of December 31, 2016 and 2015.
|  |  | Quantitative Information About Level 3 Fair Value Measurements |  |  |
| Commodity |  | Level 3 Position |  | Fair Value as of December 31, 2016 |  | Valuation Technique(s) |  | Significant Unobservable Input |  | Range |
|  |  |  |  | Assets |  | (Liabilities) |  |  |  |  |  |  |
|  |  |  |  | Millions |  |  |  |  |  |  |
| PSE&G |  |  |  |  |  |  |  |  |  |  |  |  |
| Gas |  | Natural Gas Supply Contract |  | $ | — |  |  | $ | (5 | ) |  | Discounted Cash Flow |  | Transportation Costs |  | $0.60 to $0.80/Dth |
| Total PSE&G |  |  |  | $ | — |  |  | $ | (5 | ) |  |  |  |  |  |  |
| Power |  |  |  |  |  |  |  |  |  |  |  |  |
| Electricity |  | Electric Load Contracts |  | $ | 7 |  |  | $ | (1 | ) |  | Discounted Cash flow |  | Historic Load Variability |  | 0% to +10% |
| Gas (A) |  | Other |  | — |  |  | — |  |  |  |  |  |  |  |
| Total Power |  |  |  | $ | 7 |  |  | $ | (1 | ) |  |  |  |  |  |  |
| Total PSEG |  |  |  | $ | 7 |  |  | $ | (6 | ) |  |  |  |  |  |  |
|  |  | Quantitative Information About Level 3 Fair Value Measurements |  |  |
| Commodity |  | Level 3 Position |  | Fair Value as of December 31, 2015 |  | Valuation Technique(s) |  | Significant Unobservable Input |  | Range |
|  |  |  |  | Assets |  | (Liabilities) |  |  |  |  |  |  |
|  |  |  |  | Millions |  |  |  |  |  |  |
| PSE&G |  |  |  |  |  |  |  |  |  |  |  |  |
| Gas |  | Natural Gas Supply Contract |  | $ | 13 |  |  | $ | (11 | ) |  | Discounted Cash Flow |  | Transportation Costs |  | $0.60 to $0.80/Dth |
| Total PSE&G |  |  |  | $ | 13 |  |  | $ | (11 | ) |  |  |  |  |  |  |
| Power |  |  |  |  |  |  |  |  |  |  |  |  |
| Electricity |  | Electric Load Contracts |  | $ | 11 |  |  | $ | (1 | ) |  | Discounted Cash Flow |  | Historic Load Variability |  | 0% to +10% |
| Electricity |  | Other |  | 1 |  |  | — |  |  |  |  |  |  |  |
| Total Power |  |  |  | $ | 12 |  |  | $ | (1 | ) |  |  |  |  |  |  |
| Total PSEG |  |  |  | $ | 25 |  |  | $ | (12 | ) |  |  |  |  |  |  |
(A) | Includes gas supply positions which were immaterial as of December 31, 2016.
Changes In Level 3 Assets And (Liabilities) Measured At Fair Value On A Recurring Basis | A reconciliation of the beginning and ending balances of Level 3 derivative contracts and securities for the years ended December 31, 2016 and 2015, respectively, follows: Changes in Level 3 Assets and (Liabilities) Measured at Fair Value on a Recurring Basis for the Year Ended December 31, 2016
|  |  |  |  | Total Gains or (Losses) Realized/Unrealized |  |  |  |  |  |  |  |  |
| Description |  | Balance as of January 1, 2016 |  | Included in Income (A) |  | Included in Regulatory Assets/ Liabilities (B) |  | Purchases, (Sales) |  | Issuances/ Settlements (C) |  | Transfers In/Out |  | Balance as of December 31, 2016 |
|  |  | Millions |
| PSEG |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Derivative Assets (Liabilities) |  | $ | 13 |  |  | $ | 13 |  |  | $ | (7 | ) |  | $ | 3 |  |  | $ | (21 | ) |  | $ | — |  |  | $ | 1 |  |
| PSE&G |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Derivative Assets (Liabilities) |  | $ | 2 |  |  | $ | — |  |  | $ | (7 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (5 | ) |
| Power |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Derivative Assets (Liabilities) |  | $ | 11 |  |  | $ | 13 |  |  | $ | — |  |  | $ | 3 |  |  | $ | (21 | ) |  | $ | — |  |  | $ | 6 |  |
Changes in Level 3 Assets and (Liabilities) Measured at Fair Value on a Recurring Basis for the Year Ended December 31, 2015
|  |  |  |  | Total Gains or (Losses) Realized/Unrealized |  |  |  |  |  |  |  |  |
| Description |  | Balance as of January 1, 2015 |  | Included in Income (A) |  | Included in Regulatory Assets/ Liabilities (B) |  | Purchases, (Sales) |  | Issuances/ Settlements (C) |  | Transfers In/Out |  | Balance as of December 31, 2015 |
|  |  | Millions |
| PSEG |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Derivative Assets (Liabilities) |  | $ | 37 |  |  | $ | 20 |  |  | $ | (24 | ) |  | $ | — |  |  | $ | (20 | ) |  | $ | — |  |  | $ | 13 |  |
| PSE&G |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Derivative Assets (Liabilities) |  | $ | 26 |  |  | $ | — |  |  | $ | (24 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |  |
| Power |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Derivative Assets (Liabilities) |  | $ | 11 |  |  | $ | 20 |  |  | $ | — |  |  | $ | — |  |  | $ | (20 | ) |  | $ | — |  |  | $ | 11 |  |
(A) | PSEG’s and Power’s gains and losses attributable to changes in net derivative assets and liabilities include $13 million and $20 million in Operating Income in 2016 and 2015, respectively. Of the $13 million in Operating Income in 2016 $(5) million is unrealized. The $20 million in Operating Income in 2015 is realized.
(B) | Mainly includes gains/losses on PSE&G’s derivative contracts that are not included in either earnings or Accumulated Other Comprehensive Income, as they are deferred as a Regulatory Asset/Liability and are expected to be recovered from/returned to PSE&G’s customers.
(C) | Represents $(21) million and $(20) million in settlements for derivative contracts in 2016 and 2015, respectively.

X
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, provide the aggregate carrying amount of ineligible items included in each line item in the balance sheet, if any; (b) the difference between the aggregate fair value and the aggregate unpaid principal balance (assuming contractual principal amounts and fair value option elected) of: (i) loans and long-term receivables (other than securities otherwise reported at fair value) and (ii) long-term debt instruments; (c) for loans held as assets for which the fair value option has been elected: (i) the aggregate fair value of loans that are 90 days or more past due, (ii) if the policy is to recognize interest income separately from other changes in fair value, the aggregate fair value of loans in nonaccrual status, and (iii) the difference between the aggregate fair value and the aggregate unpaid principal balance for loans that are 90 days or more past due, in nonaccrual status, or both; (2) for items included in the income statement: (a) the amounts of gains and losses from fair value changes included in earnings and in which line in the income statement those gains and losses are reported whether or not combined with gains and losses from items required to be accounted for at fair value; (b) for loans and other receivables held as assets, the estimated amount of gains or losses included in earnings attributable to changes in instrument-specific credit risk; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk, the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk; and (3) certain other disclosures as required or determined to be provided. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14217-108612 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -Subparagraph (c)(2),(d),(e) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a),(c)(1),(d)(1) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 + Details
Name: | us-gaap_FairValueOptionQuantitativeDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration