Fair Value of FInancial Instruments Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2011

Fair Value of Financial Instruments [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The Company’s financial assets and liabilities whose values were recognized at fair value are as follows by level within the fair value hierarchy (in millions):



	As of December 31, 2011
	Level 1		Level 2		Level 3		Total
Assets:
Nuclear decommissioning trust ⁽¹⁾:
Money market funds	$	—	$	14	$	—	$	14
Debt securities:
Domestic government	3		9		—		12
Corporate credit	—		11		—		11
Non-qualified benefit plan trust ⁽²⁾:
Equity securities:
Domestic	7		2		—		9
International	1		—		—		1
Debt securities - domestic government	3		—		—		3
Assets from price risk management activities ^{(1) (3)}:
Electricity	—		2		—		2
Natural gas	—		17		—		17
	$	14	$	55	$	—	$	69
Liabilities - Liabilities from price risk management activities ^{(1) (3)}:
Electricity	$	—	$	108	$	29	$	137
Natural gas	—		201		50		251
	$	—	$	309	$	79	$	388


(1)	Activities are subject to regulation, with certain gains and losses deferred pursuant to regulatory accounting and included in regulatory assets or regulatory liabilities as appropriate.


(2)	Excludes insurance policies of $23 million, which are recorded at cash surrender value.


(3)	For further information, see Note 5, Price Risk Management.



	As of December 31, 2010
	Level 1		Level 2		Level 3		Total
Assets:
Nuclear decommissioning trust ⁽¹⁾:
Money market funds	$	—	$	13	$	—	$	13
Debt securities:
Domestic government	3		9		—		12
Corporate credit	—		9		—		9
Non-qualified benefit plan trust ⁽²⁾:
Equity securities:
Domestic	16		—		—		16
International	2		1		—		3
Debt securities - domestic government	2		—		—		2
Assets from price risk management activities ^{(1) (3)}:
Electricity	—		4		1		5
Natural gas	—		11		—		11
	$	23	$	47	$	1	$	71
Liabilities - Liabilities from price risk management activities ^{(1) (3)}:
Electricity	$	—	$	102	$	17	$	119
Natural gas	—		153		104		257
	$	—	$	255	$	121	$	376


(1)	Activities are subject to regulation, with certain gains and losses deferred pursuant to regulatory accounting and included in regulatory assets or regulatory liabilities as appropriate.


(2)	Excludes insurance policies of $23 million, which are recorded at cash surrender value.


(3)	For further information, see Note 5, Price Risk Management.

The fair values of the Company’s pension plan assets and other postretirement benefit plan assets by asset category are as follows (in millions):



	As of December 31, 2011
	Level 1		Level 2		Level 3		Total
Defined Benefit Pension Plan assets:
Money market funds	$	—	$	3	$	—	$	3
Equity securities:
Domestic	151		12		—		163
International	54		51		—		105
Debt securities:
Domestic government and corporate credit	—		78		—		78
Corporate credit	76		—		—		76
Private equity funds	—		—		32		32
Alternative investments	—		—		30		30
	$	281	$	144	$	62	$	487
Other Postretirement Benefit Plans assets:
Money market funds	$	—	$	7	$	—	$	7
Equity securities:
Domestic	12		1		—		13
International	2		2		—		4
Debt securities—Domestic government	3		—		—		3
	$	17	$	10	$	—	$	27



	As of December 31, 2010
	Level 1		Level 2		Level 3		Total
Defined Benefit Pension Plan assets:
Money market funds	$	—	$	15	$	—	$	15
Equity securities:
Domestic	52		111		—		163
International	53		53		—		106
Debt securities—Domestic government and corporate credit	68		70		—		138
Private equity funds	—		—		23		23
Alternative investments	—		—		28		28
	$	173	$	249	$	51	$	473
Other Postretirement Benefit Plans assets:
Money market funds	$	—	$	7	$	—	$	7
Equity securities:
Domestic	3		2		—		5
International	1		1		—		2
Debt securities—Domestic government	2		—		—		2
	$	6	$	10	$	—	$	16

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

Changes in the fair value of net liabilities from price risk management activities (net of assets from price risk management activities) classified as Level 3 in the fair value hierarchy were as follows for the year ended December 31, 2011 (in millions):



Net liabilities from price risk management activities as of December 31, 2010	$	120
Net realized and unrealized losses ⁽¹⁾	86
Purchases	3
Settlements	(1		)
Net transfers out of Level 3 to Level 2	(129		)
Net liabilities from price risk management activities as of December 31, 2011	$	79

Level 3 net unrealized losses that have been fully offset by the effect of regulatory accounting	$	88


(1)	Contains nominal amounts of realized losses, net.

The comparable information contained in the preceding table was as follows for the years ended December 31 (in millions):



	2010			2009
Net liabilities from price risk management activities as of beginning of year	$	154		$	123
Net realized and unrealized losses ⁽¹⁾	65			47
Purchases, issuances, and settlements, net	27			—
Net transfers out of Level 3 to Level 2	(126		)	(16		)
Net liabilities from price risk management activities as of end of year	$	120		$	154

Level 3 net unrealized losses that have been fully offset by the effect of regulatory accounting	$	95		$	49


(1)	Contains nominal amounts of realized losses, net.

- 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, 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, issuances, 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.

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