Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2012

The tables below include disclosure of the Regulatory Asset and reclassifications from the Regulatory Asset into Purchased Gas.

Fair Value Amount (millions) Offset in Regulatory Assets⁽¹⁾, as of:


		Fair Value
Description	Balance Sheet Location	December 31, 2012		December 31, 2011
Natural Gas Futures Contracts	Other Current Liabilities	$	0.7	$	1.7
Natural Gas Futures Contracts	Other Noncurrent Liabilities		—		0.6

Total		$	0.7	$	2.3

⁽¹⁾	The current portion of Regulatory Assets is recorded as Accrued Revenue on the Company’s Consolidated Balance Sheets.

Components of Accrued Revenue

The following table shows the components of Accrued Revenue as of December 31, 2012 and 2011.


Accrued Revenue (millions)	December 31,
Accrued Revenue (millions)	2012		2011
Regulatory Assets—Current	$	46.6	$	43.6
Unbilled Revenues		11.5		10.6

Total Accrued Revenue	$	58.1	$	54.2

Regulatory Assets and Reclassification From Regulatory Asset into Purchased Gas


	Twelve Months Ended December 31,
(millions)	2012		2011
Amount of (Gain) / Loss Recognized in Regulatory Assets for Derivatives:
Natural Gas Futures Contracts	$	1.0	$	2.9

Amount of Loss Reclassified into Consolidated Statements of Earnings⁽²⁾:
Purchased Gas	$	2.6	$	1.6

⁽²⁾	These amounts are offset in the Consolidated Statements of Earnings with the recognition of accrued revenue as a component of Gas Operating Revenue and therefore there is no effect on earnings.

Components of Energy Supply Obligations


	December 31,
Energy Supply Obligations consist of the following: (millions)	2012		2011
Current:
Gas Inventory Obligation	$	8.7	$	12.4
Power Supply Contract Divestitures		0.9		8.7
Renewable Energy Portfolio Standards		4.2		3.4

Total Energy Supply Obligations—Current	$	13.8	$	24.5

Long-Term:
Power Supply Contract Divestitures	$	3.3	$	4.2

Total Energy Supply Obligations	$	17.1	$	28.7

Non Current Regulatory Asset For Utility Derivatives

Fair Value Offset in Regulatory Assets


	December 31,
Regulatory Assets consist of the following (millions)	2012		2011
Energy Supply Obligations	$	8.5	$	16.2
Deferred Restructuring Costs		20.1		21.8
Retirement Benefit Obligations		62.5		55.3
Income Taxes		10.2		10.9
Environmental Obligations		16.8		17.5
Deferred Storm Charges		27.8		28.6
Regulatory Tracker Mechanisms		24.7		23.5
Other		12.0		12.0

Total Regulatory Assets	$	182.6	$	185.8
Less: Current Portion of Regulatory Assets⁽¹⁾		46.6		43.6

Regulatory Assets—noncurrent	$	136.0	$	142.2

⁽¹⁾

Reflects amounts included in Accrued Revenue on the Company’s Consolidated Balance Sheets.

- Definition

Tabular disclosure of assets that are created when regulatory agencies permit public utilities to defer certain costs included in rate-setting to the balance sheet.

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