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Derivative Accounting (Tables) | 3 Months Ended
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Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Outstanding gross notional amount of derivatives, which represents both purchases and sales (does not reflect net position) | As of March 31, 2020 and December 31, 2019, we had the following outstanding gross notional volume of derivatives, which represent both purchases and sales (does not reflect net position):
|  |  | Quantity
Commodity |  | Unit of Measure | March 31, 2020 |  | December 31, 2019
Power |  | GWh | 477 |  |  | 193 |
Gas |  | Billion cubic feet | 263 |  |  | 257 |
Gains and losses from derivative instruments in designated cash flow accounting hedges relationships | The following table provides information about gains and losses from derivative instruments in designated cash flow accounting hedging relationships during the three months ended March 31, 2020 and 2019 (dollars in thousands):
|  | Financial Statement Location |  | Three Months Ended March 31,
Commodity Contracts |  |  | 2020 |  | 2019
Loss Reclassified from Accumulated OCI into Income (Effective Portion Realized) (a) |  | Fuel and purchased power (b) |  | $ | (414 | ) |  | $ | (436 | )
(a) | During the three months ended March 31, 2020 and 2019, we had no gains or losses reclassified from accumulated OCI to earnings related to discontinued cash flow hedges.
(b) Amounts are before the effect of PSA deferrals.
Gains and losses from derivative instruments not designated as accounting hedges instruments | The following table provides information about gains and losses from derivative instruments not designated as accounting hedging instruments during the three months ended March 31, 2020 and 2019 (dollars in thousands):
|  | Financial Statement Location |  | Three Months Ended March 31,
Commodity Contracts |  |  | 2020 |  | 2019
Net Gain (Loss) Recognized in Income |  | Fuel and purchased power (a) |  | $ | (30,078 | ) |  | $ | 8,170 |
(a) Amounts are before the effect of PSA deferrals.
Schedule of offsetting assets | The following tables provide information about the fair value of our risk management activities reported on a gross basis, and the impacts of offsetting as of March 31, 2020 and December 31, 2019. These amounts relate to commodity contracts and are located in the assets and liabilities from risk management activities lines of our Condensed Consolidated Balance Sheets.
As of March 31, 2020: (dollars in thousands) |  | Gross Recognized Derivatives (a) |  | Amounts Offset (b) |  | Net Recognized Derivatives |  | Other (c) |  | Amount Reported on Balance Sheets
Current assets |  | $ | 2,778 |  |  | $ | (1,482 | ) |  | $ | 1,296 |  |  | $ | 812 |  |  | $ | 2,108 |
Investments and other assets |  | 50 |  |  | (50 | ) |  | — |  |  | — |  |  | — |
Total assets |  | 2,828 |  |  | (1,532 | ) |  | 1,296 |  |  | 812 |  |  | 2,108 |
Current liabilities |  | (55,081 | ) |  | 1,482 |  |  | (53,599 | ) |  | (1,185 | ) |  | (54,784 | )
Deferred credits and other |  | (32,627 | ) |  | 50 |  |  | (32,577 | ) |  | — |  |  | (32,577 | )
Total liabilities |  | (87,708 | ) |  | 1,532 |  |  | (86,176 | ) |  | (1,185 | ) |  | (87,361 | )
Total |  | $ | (84,880 | ) |  | $ | — |  |  | $ | (84,880 | ) |  | $ | (373 | ) |  | $ | (85,253 | )
(a) | All of our gross recognized derivative instruments were subject to master netting arrangements.
(b) | No cash collateral has been provided to counterparties, or received from counterparties, that is subject to offsetting.
(c) | Represents cash collateral and cash margin that is not subject to offsetting. Amounts relate to non-derivative instruments, derivatives qualifying for scope exceptions, or collateral and margin posted in excess of the recognized derivative instrument. Includes cash collateral received from counterparties of $1,185 and cash margin provided to counterparties of $812.
As of December 31, 2019: (dollars in thousands) |  | Gross Recognized Derivatives (a) |  | Amounts Offset (b) |  | Net Recognized Derivatives |  | Other (c) |  | Amount Reported on Balance Sheets
Current assets |  | $ | 584 |  |  | $ | (474 | ) |  | $ | 110 |  |  | $ | 405 |  |  | $ | 515 |
Total assets |  | 584 |  |  | (474 | ) |  | 110 |  |  | 405 |  |  | 515 |
Current liabilities |  | (38,235 | ) |  | 474 |  |  | (37,761 | ) |  | (1,185 | ) |  | (38,946 | )
Deferred credits and other |  | (33,186 | ) |  | — |  |  | (33,186 | ) |  | — |  |  | (33,186 | )
Total liabilities |  | (71,421 | ) |  | 474 |  |  | (70,947 | ) |  | (1,185 | ) |  | (72,132 | )
Total |  | $ | (70,837 | ) |  | $ | — |  |  | $ | (70,837 | ) |  | $ | (780 | ) |  | $ | (71,617 | )
(a) | All of our gross recognized derivative instruments were subject to master netting arrangements.
(b) | No cash collateral has been provided to counterparties, or received from counterparties, that is subject to offsetting.
(c) Represents cash collateral and cash margin that is not subject to offsetting. Amounts relate to non-derivative instruments, derivatives qualifying for scope exceptions, or collateral and margin posted in excess of the recognized derivative instrument. Includes cash collateral received from counterparties of $1,185 and cash margin provided to counterparties of $405.
Schedule of offsetting liabilities | The following tables provide information about the fair value of our risk management activities reported on a gross basis, and the impacts of offsetting as of March 31, 2020 and December 31, 2019. These amounts relate to commodity contracts and are located in the assets and liabilities from risk management activities lines of our Condensed Consolidated Balance Sheets.
As of March 31, 2020: (dollars in thousands) |  | Gross Recognized Derivatives (a) |  | Amounts Offset (b) |  | Net Recognized Derivatives |  | Other (c) |  | Amount Reported on Balance Sheets
Current assets |  | $ | 2,778 |  |  | $ | (1,482 | ) |  | $ | 1,296 |  |  | $ | 812 |  |  | $ | 2,108 |
Investments and other assets |  | 50 |  |  | (50 | ) |  | — |  |  | — |  |  | — |
Total assets |  | 2,828 |  |  | (1,532 | ) |  | 1,296 |  |  | 812 |  |  | 2,108 |
Current liabilities |  | (55,081 | ) |  | 1,482 |  |  | (53,599 | ) |  | (1,185 | ) |  | (54,784 | )
Deferred credits and other |  | (32,627 | ) |  | 50 |  |  | (32,577 | ) |  | — |  |  | (32,577 | )
Total liabilities |  | (87,708 | ) |  | 1,532 |  |  | (86,176 | ) |  | (1,185 | ) |  | (87,361 | )
Total |  | $ | (84,880 | ) |  | $ | — |  |  | $ | (84,880 | ) |  | $ | (373 | ) |  | $ | (85,253 | )
(a) | All of our gross recognized derivative instruments were subject to master netting arrangements.
(b) | No cash collateral has been provided to counterparties, or received from counterparties, that is subject to offsetting.
(c) | Represents cash collateral and cash margin that is not subject to offsetting. Amounts relate to non-derivative instruments, derivatives qualifying for scope exceptions, or collateral and margin posted in excess of the recognized derivative instrument. Includes cash collateral received from counterparties of $1,185 and cash margin provided to counterparties of $812.
As of December 31, 2019: (dollars in thousands) |  | Gross Recognized Derivatives (a) |  | Amounts Offset (b) |  | Net Recognized Derivatives |  | Other (c) |  | Amount Reported on Balance Sheets
Current assets |  | $ | 584 |  |  | $ | (474 | ) |  | $ | 110 |  |  | $ | 405 |  |  | $ | 515 |
Total assets |  | 584 |  |  | (474 | ) |  | 110 |  |  | 405 |  |  | 515 |
Current liabilities |  | (38,235 | ) |  | 474 |  |  | (37,761 | ) |  | (1,185 | ) |  | (38,946 | )
Deferred credits and other |  | (33,186 | ) |  | — |  |  | (33,186 | ) |  | — |  |  | (33,186 | )
Total liabilities |  | (71,421 | ) |  | 474 |  |  | (70,947 | ) |  | (1,185 | ) |  | (72,132 | )
Total |  | $ | (70,837 | ) |  | $ | — |  |  | $ | (70,837 | ) |  | $ | (780 | ) |  | $ | (71,617 | )
(a) | All of our gross recognized derivative instruments were subject to master netting arrangements.
(b) | No cash collateral has been provided to counterparties, or received from counterparties, that is subject to offsetting.
(c) Represents cash collateral and cash margin that is not subject to offsetting. Amounts relate to non-derivative instruments, derivatives qualifying for scope exceptions, or collateral and margin posted in excess of the recognized derivative instrument. Includes cash collateral received from counterparties of $1,185 and cash margin provided to counterparties of $405.
Information about derivative instruments that have credit-risk-related contingent features | The following table provides information about our derivative instruments that have credit-risk-related contingent features at March 31, 2020 (dollars in thousands):
| March 31, 2020
Aggregate fair value of derivative instruments in a net liability position | $ | 86,955 |
Cash collateral posted | — |
Additional cash collateral in the event credit-risk-related contingent features were fully triggered (a) | 81,719 |
(a) This amount is after counterparty netting and includes those contracts which qualify for scope exceptions, which are excluded from the derivative details above.

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