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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Schedule of financial assets and liabilities and other fair value measurements on a recurring basis

NEP’s financial assets and liabilities and other fair value measurements made on a recurring basis by fair value hierarchy level are as follows:

	March 31, 2018												December 31, 2017
	Level 1				Level 2				Total				Level 1				Level 2				Total
	(millions)
Assets:
Cash equivalents	$	19			$	—			$	19			$	61			$	—			$	61
Restricted cash equivalents(a)	21				—				21				31				—				31
Interest rate contracts	—				44				44				—				15				15
Total assets	$	40			$	44			$	84			$	92			$	15			$	107
Liabilities:
Interest rate contracts	$	—			$	125			$	125			$	—			$	44			$	44
Foreign currency contracts	—				1				1				—				3				3
Total liabilities	$	—			$	126			$	126			$	—			$	47			$	47

____________________

(a) At March 31, 2018 and December 31, 2017, approximately $9 million and $7 million, respectively, of restricted cash equivalents are included in other non-current assets on NEP's condensed consolidated balance sheets.

Schedule of other financial instrument, carrying amounts and estimated fair values

The carrying amounts and estimated fair values of other financial instruments recorded at other than fair value are as follows:

	March 31, 2018								December 31, 2017
	Carrying Value				Fair Value				Carrying Value				Fair Value
	(millions)
Long-term debt, including current maturities(a)	$	3,580			$	3,541			$	4,317			$	4,456

____________________

(a) At March 31, 2018 and December 31, 2017, approximately $3,051 million and $3,552 million, respectively, of the fair value is estimated using a market approach based on quoted market prices for the same or similar issues (Level 2); the balance is estimated using an income approach utilizing a discounted cash flow valuation technique, considering the current credit profile of the debtor (Level 3). The March 31, 2018 carrying value excludes debt totaling approximately $690 million which is reflected in liabilities associated with assets held for sale on NEP's condensed consolidated balance sheets for which the carrying value approximates fair value. See Note 10 - Assets and Liabilities Associated with Assets Held for Sale.

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13476-108611

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13467-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=75026489&loc=d3e13220-108610

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14172-108612

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13433-108611

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

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