Regulatory Matters (Notes)

12 Months Ended

Dec. 31, 2012

Regulatory Assets and Liabilities Disclosure [Abstract]

Regulatory Matters [Text Block]

(6)Regulatory Matters

Regulatory assets represent costs that are expected to be recovered in future regulated rates. The Company's regulatory assets reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions):

	Weighted
	Average
	Remaining Life	2012		2011
Deferred income taxes(1)	27 years	$	1,139	$	1,057
Employee benefit plans(2)	9 years	900		834
Unrealized loss on regulated derivative contracts	4 years	240		421
Unamortized contract values	9 years	166		187
Other	Various	464		419
Total regulatory assets		$	2,909	$	2,918
Reflected as:
Current assets		$	69	$	83
Noncurrent assets		2,840		2,835
Total regulatory assets		$	2,909	$	2,918

(1) Amounts primarily represent income tax benefits related to state accelerated tax depreciation and certain property-related basis differences that were previously flowed through to customers and will be included in regulated rates when the temporary differences reverse.

(2) Represents amounts not yet recognized as a component of net periodic benefit cost that are expected to be included in regulated rates when recognized.

The Company had regulatory assets not earning a return on investment of $2.6 billion as of December 31, 2012 and 2011.

Regulatory liabilities represent income to be recognized or amounts to be returned to customers in future periods. The Company's regulatory liabilities reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions):

	Weighted
	Average
	Remaining Life	2012		2011
Cost of removal(1)	28 years	$	1,461	$	1,404
Asset retirement obligations	25 years	106		88
Levelized depreciation	27 years	105		81
Employee benefit plans(2)	12 years	13		12
Unrealized gain on regulated derivative contracts	1 year	5		21
Other	Various	123		125
Total regulatory liabilities		$	1,813	$	1,731
Reflected as:
Current liabilities		$	64	$	68
Noncurrent liabilities		1,749		1,663
Total regulatory liabilities		$	1,813	$	1,731

(1) Amounts represent estimated costs, as accrued through depreciation rates and exclusive of ARO liabilities, of removing regulated property, plant and equipment in accordance with accepted regulatory practices. Amounts are deducted from rate base or otherwise accrue a carrying cost.

(2) Represents amounts not yet recognized as a component of net periodic benefit cost that are to be returned to customers in future periods when recognized.