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DERIVATIVE INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative assets and liabilities

The following table shows our derivative assets and derivative liabilities. None of the derivatives shown below were designated as hedging instruments.

						June 30, 2022												December 31, 2021
(in millions)						Derivative Assets						Derivative Liabilities						Derivative Assets						Derivative Liabilities
Current
Natural gas contracts (1)						$	116.4					$	30.0					$	60.6					$	14.0
FTRs and TCRs						19.9						—						2.4						—
Coal contracts						53.5						—						44.0						—
Total current						189.8						30.0						107.0						14.0
Long-term
Natural gas contracts (1)						8.9						5.4						4.0						1.1
Coal contracts						21.3						—						9.0						—
Total long-term						30.2						5.4						13.0						1.1
Total						$	220.0					$	35.4					$	120.0					$	15.1

(1)Our natural gas derivative assets increased from December 31, 2021 to June 30, 2022 primarily due to the significant increase in natural gas prices.

Schedule of estimated notional sales volumes and realized gains (losses)

Our estimated notional sales volumes and realized gains and losses were as follows:

						Three Months Ended June 30, 2022												Three Months Ended June 30, 2021
(in millions)						Volumes						Gains						Volumes						Gains
Natural gas contracts						41.1 Dth						$	108.9					47.9 Dth						$	4.8
FTRs and TCRs						7.0 MWh						4.3						7.4 MWh						10.2
Total												$	113.2											$	15.0
						Six Months Ended June 30, 2022												Six Months Ended June 30, 2021
(in millions)						Volumes						Gains						Volumes						Gains (Losses)
Natural gas contracts						100.6 Dth						$	140.5					107.7 Dth						$	(2.7)
FTRs and TCRs						14.0 MWh						5.3						15.8 MWh						12.3
Total												$	145.8											$	9.6

Schedule of net derivative instruments

The following table shows derivative assets and derivative liabilities if derivative instruments by counterparty were presented net on our balance sheets:

						June 30, 2022												December 31, 2021
(in millions)						Derivative Assets						Derivative Liabilities						Derivative Assets						Derivative Liabilities
Gross amount recognized on the balance sheet						$	220.0					$	35.4					$	120.0					$	15.1
Gross amount not offset on the balance sheet						(110.1)			(1)			(27.8)			(2)			(15.2)			(3)			(9.2)			(4)
Net amount						$	109.9					$	7.6					$	104.8					$	5.9

(1)Includes cash collateral received of $84.2 million.

(2)Includes cash collateral posted of $1.9 million.

(3)Includes cash collateral received of $6.4 million.

(4)Includes cash collateral posted of $0.4 million.

Schedule of cash flow hedges reclassified to interest expense and total interest expense

The table below shows the amounts related to these cash flow hedges that were reclassified to interest expense, along with our total interest expense on the income statements:

						Three Months Ended June 30												Six Months Ended June 30
(in millions)						2022						2021						2022						2021
Net derivative gain (loss) reclassified from accumulated other comprehensive loss to interest expense						$	0.1					$	(1.3)					$	0.2					$	(2.7)
Total interest expense line item on the income statements						119.8						120.0						237.4						239.5

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Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

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-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.

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Tabular disclosure of the amount of the realized gain (loss) and notional volumes for derivative instruments not designated as hedging instruments.

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