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Fair Value (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2017 | Sep. 30, 2016
Fair Value Disclosures [Abstract] |  |
Marketable Securities [Table Text Block] | The following table presents gross proceeds from the sale of AFS securities during the periods indicated (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Gross proceeds from sale of AFS securities | $ | 1,020 |  |  | $ | 812 |  |  | $ | 2,982 |  |  | $ | 3,216 |
Fair value hierarchy for recurring measurements table | The following table presents, by level within the fair value hierarchy, the Company’s financial assets and liabilities that were measured at fair value on a recurring basis as of the dates indicated (in millions). For the Company’s investments in marketable debt and equity securities, the security classes presented are determined based on the nature and risk of the security and are consistent with how the Company manages, monitors and measures its marketable securities:
| September 30, 2017 |  | December 31, 2016
| Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AVAILABLE FOR SALE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unsecured debentures | $ | — |  |  | $ | 157 |  |  | $ | — |  |  | $ | 157 |  |  | $ | — |  |  | $ | 360 |  |  | $ | — |  |  | $ | 360 |
Certificates of deposit | — |  |  | 340 |  |  | — |  |  | 340 |  |  | — |  |  | 372 |  |  | — |  |  | 372 |
Government debt securities | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9 |  |  | — |  |  | 9 |
Subtotal | — |  |  | 497 |  |  | — |  |  | 497 |  |  | — |  |  | 741 |  |  | — |  |  | 741 |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds | — |  |  | 54 |  |  | — |  |  | 54 |  |  | — |  |  | 49 |  |  | — |  |  | 49 |
Subtotal | — |  |  | 54 |  |  | — |  |  | 54 |  |  | — |  |  | 49 |  |  | — |  |  | 49 |
Total available for sale | — |  |  | 551 |  |  | — |  |  | 551 |  |  | — |  |  | 790 |  |  | — |  |  | 790 |
TRADING: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds | 20 |  |  | — |  |  | — |  |  | 20 |  |  | 16 |  |  | — |  |  | — |  |  | 16 |
Total trading | 20 |  |  | — |  |  | — |  |  | 20 |  |  | 16 |  |  | — |  |  | — |  |  | 16 |
DERIVATIVES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives | — |  |  | 13 |  |  | — |  |  | 13 |  |  | — |  |  | 18 |  |  | — |  |  | 18 |
Cross-currency derivatives | — |  |  | 14 |  |  | — |  |  | 14 |  |  | — |  |  | 4 |  |  | — |  |  | 4 |
Foreign currency derivatives | — |  |  | 37 |  |  | 242 |  |  | 279 |  |  | — |  |  | 54 |  |  | 255 |  |  | 309 |
Commodity derivatives | — |  |  | 44 |  |  | 8 |  |  | 52 |  |  | — |  |  | 38 |  |  | 7 |  |  | 45 |
Total derivatives — assets | — |  |  | 108 |  |  | 250 |  |  | 358 |  |  | — |  |  | 114 |  |  | 262 |  |  | 376 |
TOTAL ASSETS | $ | 20 |  |  | $ | 659 |  |  | $ | 250 |  |  | $ | 929 |  |  | $ | 16 |  |  | $ | 904 |  |  | $ | 262 |  |  | $ | 1,182 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DERIVATIVES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives | $ | — |  |  | $ | 104 |  |  | $ | 192 |  |  | $ | 296 |  |  | $ | — |  |  | $ | 121 |  |  | $ | 179 |  |  | $ | 300 |
Cross-currency derivatives | — |  |  | 5 |  |  | — |  |  | 5 |  |  | — |  |  | 18 |  |  | — |  |  | 18 |
Foreign currency derivatives | — |  |  | 42 |  |  | — |  |  | 42 |  |  | — |  |  | 64 |  |  | — |  |  | 64 |
Commodity derivatives | — |  |  | 16 |  |  | 2 |  |  | 18 |  |  | — |  |  | 40 |  |  | 2 |  |  | 42 |
Total derivatives — liabilities | — |  |  | 167 |  |  | 194 |  |  | 361 |  |  | — |  |  | 243 |  |  | 181 |  |  | 424 |
TOTAL LIABILITIES | $ | — |  |  | $ | 167 |  |  | $ | 194 |  |  | $ | 361 |  |  | $ | — |  |  | $ | 243 |  |  | $ | 181 |  |  | $ | 424 |
Fair Value, Net Derivative Assets (Liabilities) measured on a recurring basis, Unobservable Input Reconciliation Table |  | The following tables present a reconciliation of net derivative assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and nine months ended September 30, 2017 and 2016 (presented net by type of derivative in millions). Transfers between Level 3 and Level 2 are determined as of the end of the reporting period and principally result from changes in the significance of unobservable inputs used to calculate the credit valuation adjustment.
Three Months Ended September 30, 2017 | Interest Rate |  | Foreign Currency |  | Commodity |  | Total
Balance at July 1 | $ | (195 | ) |  | $ | 239 |  |  | $ | 9 |  |  | $ | 53 |
Total realized and unrealized gains (losses): |  |  |  |  |  |  |
Included in earnings | (5 | ) |  | 12 |  |  | — |  |  | 7 |
Included in other comprehensive income — derivative activity | (2 | ) |  | — |  |  | — |  |  | (2 | )
Settlements | 10 |  |  | (9 | ) |  | (3 | ) |  | (2 | )
Balance at September 30 | $ | (192 | ) |  | $ | 242 |  |  | $ | 6 |  |  | $ | 56 |
Total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities held at the end of the period | $ | (1 | ) |  | $ | 3 |  |  | $ | — |  |  | $ | 2 |
Three Months Ended September 30, 2016 | Interest Rate |  | Foreign Currency |  | Commodity |  | Total
Balance at July 1 | $ | (421 | ) |  | $ | 271 |  |  | $ | 11 |  |  | $ | (139 | )
Total realized and unrealized gains (losses): |  |  |  |  |  |  |
Included in earnings | (1 | ) |  | 12 |  |  | 1 |  |  | 12 |
Included in other comprehensive income — derivative activity | 6 |  |  | — |  |  | — |  |  | 6 |
Included in other comprehensive income — foreign currency translation activity | — |  |  | (5 | ) |  | — |  |  | (5 | )
Settlements | 17 |  |  | (4 | ) |  | (3 | ) |  | 10 |
Transfers of liabilities into Level 3 | (2 | ) |  | — |  |  | — |  |  | (2 | )
Transfers of liabilities out of Level 3 | 94 |  |  | — |  |  | — |  |  | 94 |
Balance at September 30 | $ | (307 | ) |  | $ | 274 |  |  | $ | 9 |  |  | $ | (24 | )
Total gains for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities held at the end of the period | $ | — |  |  | $ | 8 |  |  | $ | 1 |  |  | $ | 9 |
Nine Months Ended September 30, 2017 | Interest Rate |  | Foreign Currency |  | Commodity |  | Total
Balance at January 1 | $ | (179 | ) |  | $ | 255 |  |  | $ | 5 |  |  | $ | 81 |
Total realized and unrealized gains (losses): |  |  |  |  |  |  |
Included in earnings | (5 | ) |  | 12 |  |  | (1 | ) |  | 6 |
Included in other comprehensive income — derivative activity | (29 | ) |  | — |  |  | — |  |  | (29 | )
Included in regulatory liabilities | — |  |  | — |  |  | 10 |  |  | 10 |
Settlements | 28 |  |  | (25 | ) |  | (8 | ) |  | (5 | )
Transfers of liabilities into Level 3 | (7 | ) |  | — |  |  | — |  |  | (7 | )
Balance at September 30 | $ | (192 | ) |  | $ | 242 |  |  | $ | 6 |  |  | $ | 56 |
Total losses for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities held at the end of the period | $ | — |  |  | $ | (12 | ) |  | $ | — |  |  | $ | (12 | )
Nine Months Ended September 30, 2016 | Interest Rate |  | Foreign Currency |  | Commodity |  | Total
Balance at January 1 | $ | (304 | ) |  | $ | 277 |  |  | $ | 3 |  |  | $ | (24 | )
Total realized and unrealized gains (losses): |  |  |  |  |  |  |
Included in earnings | — |  |  | 30 |  |  | 3 |  |  | 33 |
Included in other comprehensive income — derivative activity | (172 | ) |  | 6 |  |  | — |  |  | (166 | )
Included in other comprehensive income — foreign currency translation activity | (3 | ) |  | (43 | ) |  | — |  |  | (46 | )
Included in regulatory liabilities | — |  |  | — |  |  | 11 |  |  | 11 |
Settlements | 56 |  |  | (8 | ) |  | (8 | ) |  | 40 |
Transfers of liabilities into Level 3 | (2 | ) |  | — |  |  | — |  |  | (2 | )
Transfers of assets out of Level 3 | 118 |  |  | 12 |  |  | — |  |  | 130 |
Balance at September 30 | $ | (307 | ) |  | $ | 274 |  |  | $ | 9 |  |  | $ | (24 | )
Total gains for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities held at the end of the period | $ | 5 |  |  | $ | 25 |  |  | $ | 3 |  |  | $ | 33 |
Derivative Assets, Significant unobservable inputs | The following table summarizes the significant unobservable inputs used for Level 3 derivative assets (liabilities) as of September 30, 2017 (in millions, except range amounts):
Type of Derivative |  | Fair Value |  | Unobservable Input |  | Amount or Range (Weighted Average)
Interest rate |  | $ | (192 | ) |  | Subsidiaries’ credit spreads |  | 2.4% to 5.1% (4.7%)
Foreign currency: |  |  |  |  |  |
Argentine Peso |  | 242 |  |  | Argentine Peso to USD currency exchange rate after one year (1) |  | 21.3 to 47.8 (33.8)
Commodity: |  |  |  |  |  |
Other |  | 6 |  |  |  |  |
Total |  | $ | 56 |  |  |  |  |
_____________________________
(1) | During the nine months ended September 30, 2017, the Company began utilizing the interest rate differential approach to construct the remaining portion of the forward curve after one year (beyond the traded points). In previous periods, the Company used the purchasing price parity approach to construct the forward curve.
The following table summarizes the significant unobservable inputs used in the Level 3 measurement on a nonrecurring basis during the nine months ended September 30, 2017 (in millions, except range amounts):
| Fair Value |  | Valuation Technique |  | Unobservable Input |  | Range (Weighted Average)
Long-lived assets held and used: |  |  |  |  |  |  |
DPL | $ | 11 |  |  | Discounted cash flow |  | Pretax operating margin (through remaining life) |  | 10% to 22% (15%)
|  |  |  |  | Weighted average cost of capital |  | 7%
Tait Energy Storage | 7 |  |  | Discounted cash flow |  | Annual pretax operating margin |  | 46% to 85% (80%)
|  |  |  |  | Weighted average cost of capital |  | 9%
Fair value hierarchy for nonrecurring measurements table | The following table summarizes our major categories of assets and liabilities measured at fair value on a nonrecurring basis and their level within the fair value hierarchy (in millions):
Nine Months Ended September 30, 2017 | Measurement Date |  | Carrying Amount (1) |  | Fair Value |  | Pretax Loss
Assets |  | Level 1 |  | Level 2 |  | Level 3 |
Long-lived assets held and used: (2) |  |  |  |  |  |  |  |  |  |  |
DPL | 02/28/2017 |  | $ | 77 |  |  | $ | — |  |  | $ | — |  |  | $ | 11 |  |  | $ | 66 |
Tait Energy Storage | 02/28/2017 |  | 15 |  |  | — |  |  | — |  |  | 7 |  |  | 8 |
Dispositions and held-for-sale businesses: (3) |  |  |  |  |  |  |  |  |  |  |
Kazakhstan Hydroelectric | 06/30/2017 |  | 190 |  |  | — |  |  | 92 |  |  | — |  |  | 92 |
Kazakhstan CHPs | 03/31/2017 |  | 171 |  |  | — |  |  | 29 |  |  | — |  |  | 94 |
Nine Months Ended September 30, 2016 | Measurement Date |  | Carrying Amount (1) |  | Fair Value |  | Pretax Loss
Assets |  | Level 1 |  | Level 2 |  | Level 3 |
Long-lived assets held and used: (2) |  |  |  |  |  |  |  |  |  |  |
Buffalo Gap I | 08/31/2016 |  | $ | 113 |  |  | $ | — |  |  | $ | — |  |  | $ | 35 |  |  | $ | 78 |
DPL | 06/30/2016 |  | 324 |  |  | — |  |  | — |  |  | 89 |  |  | 235 |
Buffalo Gap II | 03/31/2016 |  | 251 |  |  | — |  |  | — |  |  | 92 |  |  | 159 |
Discontinued operations and held-for-sale businesses: (3) |  |  |  |  |  |  |  |  |  |  |
Sul | 06/30/2016 |  | 1,581 |  |  | — |  |  | 470 |  |  | — |  |  | 783 |
_____________________________
(1) | Represents the carrying values at the dates of measurement, before fair value adjustment.
(2) | See Note 14—Asset Impairment Expense for further information.
(3) | Per the Company’s policy, pretax loss is limited to the impairment of long-lived assets. Any additional loss will be recognized on completion of the sale. See Note 16—Held-for-Sale Businesses and Dispositions for further information
Financial instruments not measured at fair value in the condensed consolidated balance sheets | The following table presents (in millions) the carrying amount, fair value and fair value hierarchy of the Company’s financial assets and liabilities that are not measured at fair value in the Condensed Consolidated Balance Sheets as of September 30, 2017 and December 31, 2016, but for which fair value is disclosed:
|  | September 30, 2017
|  | Carrying Amount |  | Fair Value
|  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: | Accounts receivable — noncurrent (1) | $ | 200 |  |  | $ | 262 |  |  | $ | — |  |  | $ | 6 |  |  | $ | 256 |
Liabilities: | Non-recourse debt | 17,079 |  |  | 17,706 |  |  | — |  |  | 15,479 |  |  | 2,227 |
| Recourse debt | 4,958 |  |  | 5,266 |  |  | — |  |  | 5,266 |  |  | — |
|  | December 31, 2016
|  | Carrying Amount |  | Fair Value
|  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: | Accounts receivable — noncurrent (1) | $ | 264 |  |  | $ | 350 |  |  | $ | — |  |  | $ | 20 |  |  | $ | 330 |
Liabilities: | Non-recourse debt | 15,792 |  |  | 16,188 |  |  | — |  |  | 15,120 |  |  | 1,068 |
| Recourse debt | 4,671 |  |  | 4,899 |  |  | — |  |  | 4,899 |  |  | — |
_____________________________
(1) | These amounts primarily relate to amounts due from CAMMESA, the administrator of the wholesale electricity market in Argentina, and are included in Other noncurrent assets in the accompanying Condensed Consolidated Balance Sheets. The fair value and carrying amount of these receivables exclude VAT of $38 million and $24 million as of September 30, 2017 and December 31, 2016, respectively.

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