v2.4.1.9
Assets and Liabilities with Recurring Fair Value Measurements Fair Value Hierarchy (Details) (USD $)
In Millions, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents $ 965us-gaap_CashAndCashEquivalentsFairValueDisclosure [1] $ 896us-gaap_CashAndCashEquivalentsFairValueDisclosure [1]
Margin deposits 107us-gaap_MarginDepositAssets [2] 96us-gaap_MarginDepositAssets [2]
Commodity futures contracts 2,037cpn_CommodityFuturesContractsAssetsFairValueDisclosure 2,134cpn_CommodityFuturesContractsAssetsFairValueDisclosure
Commodity forward contracts 528cpn_CommodityForwardContractsAssetsFairValueDisclosure [3] 359cpn_CommodityForwardContractsAssetsFairValueDisclosure [3]
Interest Rate Swap Assets, Fair Value Disclosure 4cpn_InterestRateSwapAssetsFairValueDisclosure 4cpn_InterestRateSwapAssetsFairValueDisclosure
Total assets 3,641us-gaap_AssetsFairValueDisclosure 3,489us-gaap_AssetsFairValueDisclosure
Margin deposits held by us posted by our counterparties 40us-gaap_SecurityDepositLiability [2],[4] 47us-gaap_SecurityDepositLiability [2],[4]
Commodity futures contracts 1,814cpn_CommodityFuturesContractsLiabilitiesFairValueDisclosure 1,870cpn_CommodityFuturesContractsLiabilitiesFairValueDisclosure
Commodity forward contracts 283cpn_CommodityForwardContractsLiabilitiesFairValueDisclosure [3] 242cpn_CommodityForwardContractsLiabilitiesFairValueDisclosure [3]
Interest rate swaps 118cpn_InterestRateSwapLiabilitiesFairValueDisclosure 114cpn_InterestRateSwapLiabilitiesFairValueDisclosure
Liabilities, Fair Value Disclosure 2,255us-gaap_LiabilitiesFairValueDisclosure 2,273us-gaap_LiabilitiesFairValueDisclosure
Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 965us-gaap_CashAndCashEquivalentsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
[1] 896us-gaap_CashAndCashEquivalentsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
[1]
Margin deposits 107us-gaap_MarginDepositAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
96us-gaap_MarginDepositAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
Commodity futures contracts 2,037cpn_CommodityFuturesContractsAssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
2,134cpn_CommodityFuturesContractsAssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
Commodity forward contracts 0cpn_CommodityForwardContractsAssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
[3] 0cpn_CommodityForwardContractsAssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
[3]
Interest Rate Swap Assets, Fair Value Disclosure 0cpn_InterestRateSwapAssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
0cpn_InterestRateSwapAssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
Total assets 3,109us-gaap_AssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
3,126us-gaap_AssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
Margin deposits held by us posted by our counterparties 40us-gaap_SecurityDepositLiability
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
47us-gaap_SecurityDepositLiability
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
Commodity futures contracts 1,814cpn_CommodityFuturesContractsLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
1,870cpn_CommodityFuturesContractsLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
Commodity forward contracts 0cpn_CommodityForwardContractsLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
[3] 0cpn_CommodityForwardContractsLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
[3]
Interest rate swaps 0cpn_InterestRateSwapLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
0cpn_InterestRateSwapLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
Liabilities, Fair Value Disclosure 1,854us-gaap_LiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
1,917us-gaap_LiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 0us-gaap_CashAndCashEquivalentsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
[1] 0us-gaap_CashAndCashEquivalentsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
[1]
Margin deposits 0us-gaap_MarginDepositAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
0us-gaap_MarginDepositAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
Commodity futures contracts 0cpn_CommodityFuturesContractsAssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
0cpn_CommodityFuturesContractsAssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
Commodity forward contracts 295cpn_CommodityForwardContractsAssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
[3] 195cpn_CommodityForwardContractsAssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
[3]
Interest Rate Swap Assets, Fair Value Disclosure 4cpn_InterestRateSwapAssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
4cpn_InterestRateSwapAssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
Total assets 299us-gaap_AssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
199us-gaap_AssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
Margin deposits held by us posted by our counterparties 0us-gaap_SecurityDepositLiability
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
0us-gaap_SecurityDepositLiability
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
Commodity futures contracts 0cpn_CommodityFuturesContractsLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
0cpn_CommodityFuturesContractsLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
Commodity forward contracts 253cpn_CommodityForwardContractsLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
[3] 163cpn_CommodityForwardContractsLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
[3]
Interest rate swaps 118cpn_InterestRateSwapLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
114cpn_InterestRateSwapLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
Liabilities, Fair Value Disclosure 371us-gaap_LiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
277us-gaap_LiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 0us-gaap_CashAndCashEquivalentsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
[1] 0us-gaap_CashAndCashEquivalentsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
[1]
Margin deposits 0us-gaap_MarginDepositAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
0us-gaap_MarginDepositAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
Commodity futures contracts 0cpn_CommodityFuturesContractsAssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
0cpn_CommodityFuturesContractsAssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
Commodity forward contracts 233cpn_CommodityForwardContractsAssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
[3] 164cpn_CommodityForwardContractsAssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
[3]
Interest Rate Swap Assets, Fair Value Disclosure 0cpn_InterestRateSwapAssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
0cpn_InterestRateSwapAssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
Total assets 233us-gaap_AssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
164us-gaap_AssetsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
Margin deposits held by us posted by our counterparties 0us-gaap_SecurityDepositLiability
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
0us-gaap_SecurityDepositLiability
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
Commodity futures contracts 0cpn_CommodityFuturesContractsLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
0cpn_CommodityFuturesContractsLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
Commodity forward contracts 30cpn_CommodityForwardContractsLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
[3] 79cpn_CommodityForwardContractsLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
[3]
Interest rate swaps 0cpn_InterestRateSwapLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
0cpn_InterestRateSwapLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
Liabilities, Fair Value Disclosure $ 30us-gaap_LiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
$ 79us-gaap_LiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
[1] As of March 31, 2015 and December 31, 2014, we had cash equivalents of $757 million and $679 million included in cash and cash equivalents and $208 million and $217 million included in restricted cash, respectively.
[2] Balances are subject to master netting arrangements and presented on a gross basis on our Consolidated Condensed Balance Sheets. We do not offset fair value amounts recognized for derivative instruments executed with the same counterparty under a master netting arrangement for financial statement presentation, and we do not offset amounts recognized for the right to reclaim, or the obligation to return, cash collateral with corresponding derivative instrument fair values. See Note 5 for further discussion of our derivative instruments subject to master netting arrangements.
[3] Includes OTC swaps and options.
[4] Included in other current liabilities on our Consolidated Condensed Balance Sheets.