XML 53 R37.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Risk Management And Derivatives (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Contract or notional amounts and terms of marketing activities and derivative commodity instruments | The contract or notional amounts and terms of the natural gas derivative commodity instruments held by our utilities are comprised of both short and long positions. We had the following net long positions as of:
| December 31, 2021 | December 31, 2020
| Notional (MMBtus) | Maximum Term (months) (a) | Notional (MMBtus) | Maximum Term (months) (a)
Natural gas futures purchased | 590,000 |  | 3 | 620,000 |  | 3
Natural gas options purchased, net | 3,100,000 |  | 3 | 3,160,000 |  | 3
Natural gas basis swaps purchased | 870,000 |  | 3 | 900,000 |  | 3
Natural gas over-the-counter swaps, net (b) | 4,570,000 |  | 34 | 3,850,000 |  | 17
Natural gas physical commitments, net (c) | 16,416,677 |  | 24 | 17,513,061 |  | 22
Electric wholesale contracts (c) | — |  | 0 | 219,000 |  | 12
____________________ (a) Term reflects the maximum forward period hedged. (b) As of December 31, 2021, 1,830,000 of natural gas over-the-counter swaps purchased were designated as cash flow hedges. (c) Volumes exclude derivative contracts that qualify for the normal purchase, normal sales exception permitted by GAAP.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following tables present the fair value and balance sheet classification of our derivative instruments as of December 31, (in thousands):
| Balance Sheet Location | 2021 | 2020
Derivatives designated as hedges: |  |  |
Asset derivative instruments: |  |  |
Current commodity derivatives | Derivative assets - current | $ | 2,017 |  | $ | 181 |
Noncurrent commodity derivatives | Other assets, non-current | 18 |  | 43 |
Liability derivative instruments: |  |  |
Current commodity derivatives | Derivative liabilities - current | — |  | (108) |
Total derivatives designated as hedges | $ | 2,035 |  | $ | 116 |
Derivatives not designated as hedges: |  |  |
Asset derivative instruments: |  |  |
Current commodity derivatives | Derivative assets - current | $ | 2,356 |  | $ | 1,667 |
Noncurrent commodity derivatives | Other assets, non-current | 804 |  | 151 |
Liability derivative instruments: |  |  |
Current commodity derivatives | Derivative liabilities - current | (1,439) |  | (1,936) |
Noncurrent commodity derivatives | Other deferred credits and other liabilities | (20) |  | — |
Total derivatives not designated as hedges | $ | 1,701 |  | $ | (118) |
Derivative Instruments, Gain (Loss) | The impact of cash flow hedges on our Consolidated Statements of Income is presented below for the years ended December 31, 2021, 2020 and 2019. Note that this presentation does not reflect the gains or losses arising from the underlying physical transactions; therefore, it is not indicative of the economic profit or loss we realized when the underlying physical and financial transactions were settled.
| 2021 | 2020 | 2019 |  | 2021 | 2020 | 2019
Derivatives in Cash Flow Hedging Relationships | Amount of Gain/(Loss) Recognized in OCI | Income Statement Location | Amount of Gain/(Loss) Reclassified from AOCI into Income
| (in thousands) |  | (in thousands)
Interest rate swaps | $ | 2,851 |  | $ | 2,851 |  | $ | 2,851 |  | Interest expense | $ | (2,851) |  | $ | (2,851) |  | $ | (2,851) |
Commodity derivatives | 1,952 |  | 540 |  | (965) |  | Fuel, purchased power and cost of natural gas sold | 2,051 |  | (601) |  | 417 |
Total | $ | 4,803 |  | $ | 3,391 |  | $ | 1,886 |  |  | $ | (800) |  | $ | (3,452) |  | $ | (2,434) |
The following table summarizes the impacts of derivative instruments not designated as hedge instruments on our Consolidated Statements of Income for the years ended December 31, 2021, 2020 and 2019. Note that this presentation does not reflect the expected gains or losses arising from the underlying physical transactions; therefore, it is not indicative of the economic gross profit we realized when the underlying physical and financial transactions were settled.
|  | 2021 | 2020 | 2019
Derivatives Not Designated as Hedging Instruments | Income Statement Location | Amount of Gain/(Loss) on Derivatives Recognized in Income
|  | (in thousands)
Commodity derivatives - Electric | Fuel, purchased power and cost of natural gas sold | $ | (144) |  | $ | 144 |  | $ | — |
Commodity derivatives - Natural Gas | Fuel, purchased power and cost of natural gas sold | 2,599 |  | 1,640 |  | (1,100) |
|  | $ | 2,455 |  | $ | 1,784 |  | $ | (1,100) |

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration