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FAIR VALUE MEASUREMENTS | 3 Months Ended
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Mar. 31, 2019
Fair Value Disclosures [Abstract] |
FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS Values of Financial Instruments GAAP establishes a hierarchical framework for disclosing the transparency of the inputs utilized in measuring assets and liabilities at fair value. Management's assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the classification of assets and liabilities within the fair value hierarchy levels. In addition, the Evergy Companies measure certain investments that do not have a readily determinable fair value at net asset value (NAV), which are not included in the fair value hierarchy. Further explanation of these levels and NAV is summarized below. Level 1 – Quoted prices are available in active markets for identical assets or liabilities. The types of assets and liabilities included in Level 1 are highly liquid and actively traded instruments with quoted prices, such as equities listed on public exchanges. Level 2 – Pricing inputs are not quoted prices in active markets, but are either directly or indirectly observable. The types of assets and liabilities included in Level 2 are certain marketable debt securities, financial instruments traded in less than active markets or other financial instruments priced with models using highly observable inputs. Level 3 – Significant inputs to pricing have little or no transparency. The types of assets and liabilities included in Level 3 are those with inputs requiring significant management judgment or estimation. NAV - Investments that do not have a readily determinable fair value are measured at NAV. These investments do not consider the observability of inputs and, therefore, they are not included within the fair value hierarchy. The Evergy Companies include in this category investments in private equity, real estate and alternative investment funds that do not have a readily determinable fair value. The underlying alternative investments include collateralized debt obligations, mezzanine debt and a variety of other investments. The Evergy Companies record cash and cash equivalents, accounts receivable and short-term borrowings on their consolidated balance sheets at cost, which approximates fair value due to the short-term nature of these instruments. Interest Rate Derivatives The Evergy Companies are exposed to market risks arising from changes in interest rates and may use derivative instruments to manage these risks. From time to time, this may include entering into interest rate swap agreements to protect against unfavorable interest rate changes relating to forecasted debt transactions. These interest rate swap agreements can be designated as cash flow hedges, in which case gains and losses on the interest rate swaps are deferred in other comprehensive income to be recognized as an adjustment to interest expense over the same period that the hedged interest payments affect earnings. In December 2018, Evergy entered into an interest rate swap agreement with a notional amount of $500.0 million that has been designated as a cash flow hedge of interest payments from a forecasted debt issuance in 2019. As of March 31, 2019 and December 31, 2018, the interest rate swap had a fair value of $(19.2) million and $(5.4) million, respectively, and was recorded within other current liabilities on Evergy's consolidated balance sheet. For the three months ended March 31, 2019, Evergy recorded a $13.8 million pre-tax loss in other comprehensive loss on Evergy's consolidated statements of comprehensive income. Fair Value of Long-Term Debt The Evergy Companies measure the fair value of long-term debt using Level 2 measurements available as of the measurement date. The book value and fair value of the Evergy Companies' long-term debt and long-term debt of variable interest entities is summarized in the following table.
|  | March 31, 2019 |  | December 31, 2018
|  | Book Value |  | Fair Value |  | Book Value |  | Fair Value
Long-term debt(a) |  | (millions)
Evergy(b) |  | $ | 7,827.0 |  |  | $ | 8,130.5 |  |  | $ | 7,341.7 |  |  | $ | 7,412.1 |
Westar Energy |  | 3,690.0 |  |  | 3,884.4 |  |  | 3,689.8 |  |  | 3,771.3 |
KCP&L |  | 2,924.6 |  |  | 3,130.2 |  |  | 2,530.1 |  |  | 2,637.5 |
Long-term debt of variable interest entities(a) |  |  |  |  |  |  |  |
Evergy |  | $ | 51.1 |  |  | $ | 50.9 |  |  | $ | 81.4 |  |  | $ | 81.3 |
Westar Energy |  | 51.1 |  |  | 50.9 |  |  | 81.4 |  |  | 81.3 |
(a) Includes current maturities. (b) Book value as of March 31, 2019 and December 31, 2018, includes $136.8 million and $144.8 million, respectively, of fair value adjustments recorded in connection with purchase accounting for the Great Plains Energy and Westar Energy merger, which are not part of future principal payments and will amortize over the remaining life of the associated debt instrument. Recurring Fair Value Measurements The following tables include the Evergy Companies' balances of financial assets and liabilities measured at fair value on a recurring basis.
Description | March 31, 2019 |  | Level 1 |  | Level 2 | Level 3 | NAV
Westar Energy |  | (millions)
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nuclear decommissioning trust(a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic equity funds |  | $ | 80.1 |  |  |  | $ | 73.6 |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | 6.5 |  |
International equity funds |  | 46.5 |  |  |  | 46.5 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Core bond fund |  | 34.6 |  |  |  | 34.6 |  |  |  | — |  |  |  | — |  |  |  | — |  |
High-yield bond fund |  | 20.6 |  |  |  | 20.6 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Emerging markets bond fund |  | 16.4 |  |  |  | 16.4 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Combination debt/equity/other fund |  | 14.7 |  |  |  | 14.7 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Alternative investments fund |  | 23.3 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 23.3 |  |
Real estate securities fund |  | 12.0 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 12.0 |  |
Cash equivalents |  | 0.2 |  |  |  | 0.2 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Total nuclear decommissioning trust |  | 248.4 |  |  |  | 206.6 |  |  |  | — |  |  |  | — |  |  |  | 41.8 |  |
Rabbi trust |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Core bond fund |  | 24.7 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 24.7 |  |
Combination debt/equity/other fund |  | 6.2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6.2 |  |
Cash equivalents |  | 0.2 |  |  |  | 0.2 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Total rabbi trust |  | 31.1 |  |  |  | 0.2 |  |  |  | — |  |  |  | — |  |  |  | 30.9 |  |
Total |  | $ | 279.5 |  |  |  | $ | 206.8 |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | 72.7 |  |
KCP&L |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nuclear decommissioning trust(a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  | $ | 188.3 |  |  |  | $ | 188.3 |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |  |
Debt securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | 46.0 |  |  |  | 46.0 |  |  |  | — |  |  |  | — |  |  |  | — |  |
U.S. Agency |  | 0.4 |  |  |  | — |  |  |  | 0.4 |  |  |  | — |  |  |  | — |  |
State and local obligations |  | 2.1 |  |  |  | — |  |  |  | 2.1 |  |  |  | — |  |  |  | — |  |
Corporate bonds |  | 30.6 |  |  |  | — |  |  |  | 30.6 |  |  |  | — |  |  |  | — |  |
Foreign governments |  | 0.1 |  |  |  | — |  |  |  | 0.1 |  |  |  | — |  |  |  | — |  |
Cash equivalents |  | 2.9 |  |  |  | 2.9 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Other |  | (0.5 | ) |  |  | — |  |  |  | (0.5 | ) |  |  | — |  |  |  | — |  |
Total nuclear decommissioning trust |  | 269.9 |  |  |  | 237.2 |  |  |  | 32.7 |  |  |  | — |  |  |  | — |  |
Self-insured health plan trust(b) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  | 0.5 |  |  |  | 0.5 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Debt securities |  | 4.3 |  |  |  | 0.4 |  |  |  | 3.9 |  |  |  | — |  |  |  | — |  |
Cash and cash equivalents |  | 6.7 |  |  |  | 6.7 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Other |  | 1.1 |  |  |  | — |  |  |  | 1.1 |  |  |  | — |  |  |  | — |  |
Total self-insured health plan trust |  | 12.6 |  |  |  | 7.6 |  |  |  | 5.0 |  |  |  | — |  |  |  | — |  |
Total |  | $ | 282.5 |  |  |  | $ | 244.8 |  |  |  | $ | 37.7 |  |  |  | $ | — |  |  |  | $ | — |  |
Other Evergy |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rabbi trusts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed income fund |  | $ | 13.1 |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | 13.1 |  |
Cash and cash equivalents |  | 0.4 |  |  |  | 0.4 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Total rabbi trusts |  | $ | 13.5 |  |  |  | $ | 0.4 |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | 13.1 |  |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps(c) |  | $ | 19.2 |  |  |  | $ | — |  |  |  | $ | 19.2 |  |  |  | $ | — |  |  |  | $ | — |  |
Total |  | $ | 19.2 |  |  |  | $ | — |  |  |  | $ | 19.2 |  |  |  | $ | — |  |  |  | $ | — |  |
Evergy |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nuclear decommissioning trust(a) |  | $ | 518.3 |  |  |  | $ | 443.8 |  |  |  | $ | 32.7 |  |  |  | $ | — |  |  |  | $ | 41.8 |  |
Rabbi trusts |  | 44.6 |  |  |  | 0.6 |  |  |  | — |  |  |  | — |  |  |  | 44.0 |  |
Self-insured health plan trust(b) |  | 12.6 |  |  |  | 7.6 |  |  |  | 5.0 |  |  |  | — |  |  |  | — |  |
Total |  | $ | 575.5 |  |  |  | $ | 452.0 |  |  |  | $ | 37.7 |  |  |  | $ | — |  |  |  | $ | 85.8 |  |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps(c) |  | $ | 19.2 |  |  |  | $ | — |  |  |  | $ | 19.2 |  |  |  | $ | — |  |  |  | $ | — |  |
Total |  | $ | 19.2 |  |  |  | $ | — |  |  |  | $ | 19.2 |  |  |  | $ | — |  |  |  | $ | — |  |
Description | December 31, 2018 | Level 1 | Level 2 | Level 3 | NAV
Westar Energy |  | (millions)
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nuclear decommissioning trust(a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic equity funds |  | $ | 70.6 |  |  |  | $ | 63.9 |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | 6.7 |  |
International equity funds |  | 36.2 |  |  |  | 36.2 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Core bond fund |  | 37.5 |  |  |  | 37.5 |  |  |  | — |  |  |  | — |  |  |  | — |  |
High-yield bond fund |  | 18.9 |  |  |  | 18.9 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Emerging markets bond fund |  | 15.4 |  |  |  | 15.4 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Combination debt/equity/other fund |  | 12.9 |  |  |  | 12.9 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Alternative investments fund |  | 24.1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 24.1 |  |
Real estate securities fund |  | 11.8 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 11.8 |  |
Cash equivalents |  | 0.1 |  |  |  | 0.1 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Total nuclear decommissioning trust |  | 227.5 |  |  |  | 184.9 |  |  |  | — |  |  |  | — |  |  |  | 42.6 |  |
Rabbi trust |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Core bond fund |  | 24.8 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 24.8 |  |
Combination debt/equity/other fund |  | 5.6 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5.6 |  |
Cash equivalents |  | 0.2 |  |  |  | 0.2 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Total rabbi trust |  | 30.6 |  |  |  | 0.2 |  |  |  | — |  |  |  | — |  |  |  | 30.4 |  |
Total |  | $ | 258.1 |  |  |  | $ | 185.1 |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | 73.0 |  |
KCP&L |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nuclear decommissioning trust(a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  | $ | 166.6 |  |  |  | $ | 166.6 |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |  |
Debt securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | 42.1 |  |  |  | 42.1 |  |  |  | — |  |  |  | — |  |  |  | — |  |
U.S. Agency |  | 0.4 |  |  |  | — |  |  |  | 0.4 |  |  |  | — |  |  |  | — |  |
State and local obligations |  | 2.1 |  |  |  | — |  |  |  | 2.1 |  |  |  | — |  |  |  | — |  |
Corporate bonds |  | 30.9 |  |  |  | — |  |  |  | 30.9 |  |  |  | — |  |  |  | — |  |
Foreign governments |  | 0.1 |  |  |  | — |  |  |  | 0.1 |  |  |  | — |  |  |  | — |  |
Cash equivalents |  | 1.7 |  |  |  | 1.7 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Other |  | 0.7 |  |  |  | 0.7 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Total nuclear decommissioning trust |  | 244.6 |  |  |  | 211.1 |  |  |  | 33.5 |  |  |  | — |  |  |  | — |  |
Self-insured health plan trust(b) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  | 0.5 |  |  |  | 0.5 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Debt securities |  | 3.9 |  |  |  | 0.3 |  |  |  | 3.6 |  |  |  | — |  |  |  | — |  |
Cash and cash equivalents |  | 8.0 |  |  |  | 8.0 |  |  |  | — |  |  |  | — |  |  |  | — |  |
Total self-insured health plan trust |  | 12.4 |  |  |  | 8.8 |  |  |  | 3.6 |  |  |  | — |  |  |  | — |  |
Total |  | $ | 257.0 |  |  |  | $ | 219.9 |  |  |  | $ | 37.1 |  |  |  | $ | — |  |  |  | $ | — |  |
Other Evergy |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rabbi trusts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed income fund |  | $ | 13.2 |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | 13.2 |  |
Total rabbi trusts |  | $ | 13.2 |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | 13.2 |  |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps(c) |  | $ | 5.4 |  |  |  | $ | — |  |  |  | $ | 5.4 |  |  |  | $ | — |  |  |  | $ | — |  |
Total |  | $ | 5.4 |  |  |  | $ | — |  |  |  | $ | 5.4 |  |  |  | $ | — |  |  |  | $ | — |  |
Evergy |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nuclear decommissioning trust(a) |  | $ | 472.1 |  |  |  | $ | 396.0 |  |  |  | $ | 33.5 |  |  |  | $ | — |  |  |  | $ | 42.6 |  |
Rabbi trust |  | 43.8 |  |  |  | 0.2 |  |  |  | — |  |  |  | — |  |  |  | 43.6 |  |
Self-insured health plan trust(b) |  | 12.4 |  |  |  | 8.8 |  |  |  | 3.6 |  |  |  | — |  |  |  | — |  |
Total |  | $ | 528.3 |  |  |  | $ | 405.0 |  |  |  | $ | 37.1 |  |  |  | $ | — |  |  |  | $ | 86.2 |  |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps(c) |  | $ | 5.4 |  |  |  | $ | — |  |  |  | $ | 5.4 |  |  |  | $ | — |  |  |  | $ | — |  |
Total |  | $ | 5.4 |  |  |  | $ | — |  |  |  | $ | 5.4 |  |  |  | $ | — |  |  |  | $ | — |  |
(a) | Fair value is based on quoted market prices of the investments held by the trust and/or valuation models.
(b) | Fair value is based on quoted market prices of the investments held by the trust. Debt securities classified as Level 1 are comprised of U.S. Treasury securities. Debt securities classified as Level 2 are comprised of corporate bonds, U.S. Agency, state and local obligations, and other asset-backed securities.
(c) | The fair value of interest rate swaps are determined by calculating the net present value of expected payments and receipts under the interest rate swaps using observable market inputs including interest rates and LIBOR swap rates.
Certain Evergy and Westar Energy investments included in the table above are measured at NAV as they do not have readily determinable fair values. In certain situations, these investments may have redemption restrictions. The following table provides additional information on these Evergy and Westar Energy investments.
| March 31, 2019 |  | December 31, 2018 |  | March 31, 2019
| Fair |  | Unfunded |  | Fair |  | Unfunded |  | Redemption |  | Length of
| Value |  | Commitments |  | Value |  | Commitments |  | Frequency |  | Settlement
Westar Energy | (millions) |  |  |  |
Nuclear decommissioning trust: |  |  |  |  |
Domestic equity funds | $ | 6.5 |  |  | $ | 4.0 |  |  | $ | 6.7 |  |  | $ | 4.3 |  |  | (a) |  | (a)
Alternative investments fund(b) | 23.3 |  |  | — |  |  | 24.1 |  |  | — |  |  | Quarterly |  | 65 days
Real estate securities fund(b) | 12.0 |  |  | — |  |  | 11.8 |  |  | — |  |  | Quarterly |  | 65 days
Total | $ | 41.8 |  |  | $ | 4.0 |  |  | $ | 42.6 |  |  | $ | 4.3 |  |  |  |  |
Rabbi trust: |  |  |  |  |  |  |  |  |  |  |
Core bond fund | $ | 24.7 |  |  | $ | — |  |  | $ | 24.8 |  |  | $ | — |  |  | (c) |  | (c)
Combination debt/equity/other fund | 6.2 |  |  | — |  |  | 5.6 |  |  | — |  |  | (c) |  | (c)
Total | $ | 30.9 |  |  | $ | — |  |  | $ | 30.4 |  |  | $ | — |  |  |  |  |
Other Evergy |  |  |  |  |  |  |  |  |  |  |
Rabbi trusts: |  |  |  |  |  |  |  |  |  |  |
Fixed income fund | $ | 13.1 |  |  | $ | — |  |  | $ | 13.2 |  |  | $ | — |  |  | (c) |  | (c)
Total Evergy investments at NAV | $ | 85.8 |  |  | $ | 4.0 |  |  | $ | 86.2 |  |  | $ | 4.3 |  |  |  |  |
(a) | This investment is in five long-term private equity funds that do not permit early withdrawal. Investments in these funds cannot be distributed until the underlying investments have been liquidated, which may take years from the date of initial liquidation. Three funds have begun to make distributions. The initial investment in the fourth and fifth fund occurred in the second quarter of 2016 and first quarter of 2018, respectively. The fourth fund's term is 15 years, subject to the general partner's right to extend the term for up to three additional one-year periods. The fifth fund's term will be 15 years after the initial closing date, subject to additional extensions approved by the Advisory Committee to provide for an orderly liquidation of fund investments and dissolution of the fund.
(b) | There is a holdback on final redemptions.
(c) | This investment can be redeemed immediately and is not subject to any restrictions on redemptions.
The Evergy Companies hold equity and debt investments classified as securities in various trusts including for the purposes of funding the decommissioning of Wolf Creek and for the benefit of certain retired executive officers of Westar Energy. The Evergy Companies record net realized and unrealized gains and losses on the nuclear decommissioning trusts in regulatory liabilities on their consolidated balance sheets and record net realized and unrealized gains and losses on Westar Energy's rabbi trust in the consolidated statements of income and comprehensive income. The following table summarizes the net unrealized gains (losses) for the Evergy Companies' nuclear decommissioning trusts and rabbi trusts.
Three Months Ended March 31 |  | 2019 |  | 2018 |
Westar Energy |  | (millions) |
Nuclear decommissioning trust - equity securities |  | $ | 17.2 |  |  | $ | (11.7 | ) |
Rabbi trust |  | 1.3 |  |  | (0.5 | ) |
Total |  | $ | 18.5 |  |  | $ | (12.2 | ) |
KCP&L(a) |  |  |  |  |
Nuclear decommissioning trust - equity securities |  | $ | 20.7 |  |  | $ | (3.6 | ) |
Nuclear decommissioning trust - debt securities |  | 2.1 |  |  | (1.6 | ) |
Total |  | $ | 22.8 |  |  | $ | (5.2 | ) |
Evergy |  |  |  |  |
Nuclear decommissioning trust - equity securities |  | $ | 37.9 |  |  | $ | (11.7 | ) |
Nuclear decommissioning trust - debt securities |  | 2.1 |  |  | — |  |
Rabbi trusts |  | 0.5 |  |  | (0.5 | ) |
Total |  | $ | 40.5 |  |  | $ | (12.2 | ) |
(a) KCP&L amounts are not included in consolidated Evergy for the three months ended March 31, 2018.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -URI http://asc.fasb.org/topic&trid=2155941 + Details
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