Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value Assets and Liabilities Net Measured On Recurring Basis Unobservable Input Reconciliation [Table Text Block]

The following table reconciles the beginning and ending balances of the Company's assets and liabilities measured at fair value on a recurring basis using significant Level 3 inputs for the years ended December 31 (in millions):



	Commodity Derivatives									Interest Rate Derivatives									Auction Rate Securities
	2018			2017			2016			2018			2017			2016			2018		2017		2016

Beginning balance	$	94		$	60		$	47		$	9		$	6		$	4		$	—	$	—	$	44
Changes included in earnings	1			23			8			181			147			121			—		—		5
Changes in fair value recognized in OCI	2			(3		)	(2		)	—			—			—			—		—		8
Changes in fair value recognized in net regulatory assets	3			(1		)	(11		)	—			—			—			—		—		—
Purchases	3			1			1			—			4			—			—		—		—
Redemptions	—			—			—			—			—			—			—		—		(57		)
Settlements	(4		)	14			17			(180		)	(148		)	(119		)	—		—		—
Ending balance	$	99		$	94		$	60		$	10		$	9		$	6		$	—	$	—	$	—

Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following table presents the fair value of the UK Plan assets, by major category (in millions):



	Input Levels for Fair Value Measurements⁽¹⁾
	Level 1		Level 2		Level 3		Total
As of December 31, 2018:
Cash equivalents	$	3	$	59	$	—	$	62
Debt securities:
United Kingdom government obligations	891		—		—		891
Equity securities:
Investment funds⁽²⁾	—		697		—		697
Real estate funds	—		—		239		239
Total	$	894	$	756	$	239	1,889
Investment funds⁽²⁾ measured at net asset value							100
Total assets measured at fair value							$	1,989

As of December 31, 2017:
Cash equivalents	$	4	$	30	$	—	$	34
Debt securities:
United Kingdom government obligations	870		—		—		870
Equity securities:
Investment funds⁽²⁾	—		1,027		—		1,027
Real estate funds	—		—		230		230
Total	$	874	$	1,057	$	230	2,161
Investment funds⁽²⁾ measured at net asset value							207
Total assets measured at fair value							$	2,368


(1)	Refer to Note 14 for additional discussion regarding the three levels of the fair value hierarchy.


(2)	Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 36% and 64%, respectively, for 2018 and 21% and 79%, respectively, for 2017.

The following table presents the fair value of plan assets, by major category, for the Company's defined benefit pension plans (in millions):



	Input Levels for Fair Value Measurements⁽¹⁾
	Level 1		Level 2		Total
As of December 31, 2018:
Cash equivalents	$	8	$	41	$	49
Debt securities:
United States government obligations	160		—		160
International government obligations	—		5		5
Corporate obligations	—		373		373
Municipal obligations	—		29		29
Agency, asset and mortgage-backed obligations	—		123		123
Equity securities:
United States companies	492		1		493
International companies	108		—		108
Investment funds⁽²⁾	119		—		119
Total assets in the fair value hierarchy	$	887	$	572	1,459
Investment funds⁽²⁾ measured at net asset value					792
Limited partnership interests⁽³⁾ measured at net asset value					104
Real estate funds measured at net asset value					41
Total assets measured at fair value					$	2,396

As of December 31, 2017:
Cash equivalents	$	10	$	76	$	86
Debt securities:
United States government obligations	218		—		218
Corporate obligations	—		350		350
Municipal obligations	—		16		16
Agency, asset and mortgage-backed obligations	—		110		110
Equity securities:
United States companies	622		—		622
International companies	136		—		136
Investment funds⁽²⁾	83		20		103
Total assets in the fair value hierarchy	$	1,069	$	572	1,641
Investment funds⁽²⁾ measured at net asset value					1,019
Limited partnership interests⁽³⁾ measured at net asset value					63
Real estate funds measured at net asset value					38
Total assets measured at fair value					$	2,761


(1)	Refer to Note 14 for additional discussion regarding the three levels of the fair value hierarchy.


(2)	Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 59% and 41%, respectively, for 2018 and 62% and 38%, respectively, for 2017. Additionally, these funds are invested in United States and international securities of approximately 73% and 27%, respectively, for 2018 and 68% and 32%, respectively, for 2017.


(3)	Limited partnership interests include several funds that invest primarily in real estate, buyout, growth equity and venture capital.

The following table presents the fair value of plan assets, by major category, for the Company's defined benefit other postretirement plans (in millions):



	Input Levels for Fair Value Measurements⁽¹⁾
	Level 1		Level 2		Total
As of December 31, 2018:
Cash equivalents	$	10	$	2	$	12
Debt securities:
United States government obligations	13		—		13
Corporate obligations	—		42		42
Municipal obligations	—		45		45
Agency, asset and mortgage-backed obligations	—		30		30
Equity securities:
United States companies	158		—		158
International companies	6		—		6
Investment funds	202		1		203
Total assets in the fair value hierarchy	$	389	$	120	509
Investment funds measured at net asset value					149
Limited partnership interests measured at net asset value					6
Total assets measured at fair value					$	664

As of December 31, 2017:
Cash equivalents	$	11	$	3	$	14
Debt securities:
United States government obligations	20		—		20
Corporate obligations	—		36		36
Municipal obligations	—		46		46
Agency, asset and mortgage-backed obligations	—		29		29
Equity securities:
United States companies	185		—		185
International companies	8		—		8
Investment funds⁽²⁾	219		1		220
Total assets in the fair value hierarchy	$	443	$	115	558
Investment funds⁽²⁾ measured at net asset value					174
Limited partnership interests⁽³⁾ measured at net asset value					4
Total assets measured at fair value					$	736


(1)	Refer to Note 14 for additional discussion regarding the three levels of the fair value hierarchy.


(2)	Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 65% and 35%, respectively, for 2018 and 68% and 32%, respectively, for 2017. Additionally, these funds are invested in United States and international securities of approximately 79% and 21%, respectively, for 2018 and 73% and 27%, respectively, for 2017.


(3)	Limited partnership interests include several funds that invest primarily in real estate, buyout, growth equity and venture capital.

The following table presents the Company's assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions):



	Input Levels for Fair Value Measurements
	Level 1			Level 2			Level 3			Other⁽¹⁾			Total
As of December 31, 2018:
Assets:
Commodity derivatives	$	1		$	91		$	108		$	(52	)	$	148
Interest rate derivatives	1			13			10			—			24
Mortgage loans held for sale	—			468			—			—			468
Money market mutual funds⁽²⁾	409			—			—			—			409
Debt securities:
United States government obligations	187			—			—			—			187
International government obligations	—			4			—			—			4
Corporate obligations	—			46			—			—			46
Municipal obligations	—			2			—			—			2
Agency, asset and mortgage-backed obligations	—			1			—			—			1
Equity securities:
United States companies	256			—			—			—			256
International companies	1,441			—			—			—			1,441
Investment funds	128			—			—			—			128
	$	2,423		$	625		$	118		$	(52	)	$	3,114
Liabilities:
Commodity derivatives	$	(1	)	$	(180	)	$	(9	)	$	111		$	(79	)
Interest rate derivatives	—			(32		)	—			—			(32		)
	$	(1	)	$	(212	)	$	(9	)	$	111		$	(111	)



As of December 31, 2017:
Assets:
Commodity derivatives	$	1		$	42		$	104		$	(29	)	$	118
Interest rate derivatives	—			15			9			—			24
Mortgage loans held for sale	—			465			—			—			465
Money market mutual funds⁽²⁾	685			—			—			—			685
Debt securities:
United States government obligations	176			—			—			—			176
International government obligations	—			5			—			—			5
Corporate obligations	—			36			—			—			36
Municipal obligations	—			2			—			—			2
Equity securities:
United States companies	288			—			—			—			288
International companies	1,968			—			—			—			1,968
Investment funds	178			—			—			—			178
	$	3,296		$	565		$	113		$	(29	)	$	3,945
Liabilities:
Commodity derivatives	$	(3	)	$	(167	)	$	(10	)	$	105		$	(75	)
Interest rate derivatives	—			(8		)	—			—			(8		)
	$	(3	)	$	(175	)	$	(10	)	$	105		$	(83	)


(1)	Represents netting under master netting arrangements and a net cash collateral receivable of $59 million and $76 million as of December 31, 2018 and 2017, respectively.


(2)	Amounts are included in cash and cash equivalents; other current assets; and noncurrent investments and restricted cash and investments on the Consolidated Balance Sheets. The fair value of these money market mutual funds approximates cost.

Fair Value, by Balance Sheet Grouping [Table Text Block]

The following table presents the carrying value and estimated fair value of the Company's long-term debt as of December 31 (in millions):



	2018				2017
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value

Long-term debt	$	36,774	$	39,398	$	35,193	$	40,522

Nevada Power Company [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following table presents Nevada Power's assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions):



	Input Levels for Fair Value Measurements
	Level 1		Level 2		Level 3			Total
As of December 31, 2018:
Assets:
Commodity derivatives	$	—	$	—	$	7		$	7
Money market mutual funds⁽¹⁾	104		—		—			104
Investment funds	1		—		—			1
	$	105	$	—	$	7		$	112

Liabilities - commodity derivatives	$	—	$	—	$	(4	)	$	(4	)

As of December 31, 2017:
Assets - investment funds	$	2	$	—	$	—		$	2

Liabilities - commodity derivatives	$	—	$	—	$	(3	)	$	(3	)


(1)	Amounts are included in cash and cash equivalents on the Consolidated Balance Sheets. The fair value of these money market mutual funds approximates cost.

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table reconciles the beginning and ending balances of Nevada Power's net commodity derivative assets or liabilities measured at fair value on a recurring basis using significant Level 3 inputs for the years ended December 31 (in millions):



	2018			2017			2016
Beginning balance	$	(3	)	$	(14	)	$	(22	)
Changes in fair value recognized in regulatory assets or liabilities	4			(3		)	(4		)
Settlements	2			14			12
Ending balance	$	3		$	(3	)	$	(14	)

Fair Value, by Balance Sheet Grouping [Table Text Block]

The following table presents the carrying value and estimated fair value of Nevada Power's long-term debt as of December 31 (in millions):



	2018				2017
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value

Long-term debt	$	2,353	$	2,651	$	2,600	$	3,088

PacifiCorp [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following table presents the fair value of plan assets, by major category, for PacifiCorp's defined benefit pension plan (in millions):



	Input Levels for Fair Value Measurements
	Level 1⁽¹⁾		Level 2⁽¹⁾		Level 3⁽¹⁾		Total
As of December 31, 2018:
Cash equivalents	$	—	$	11	$	—	$	11
Debt securities:
United States government obligations	4		—		—		4
International government obligations	—		1		—		1
Corporate obligations	—		88		—		88
Municipal obligations	—		10		—		10
Agency, asset and mortgage-backed obligations	—		43		—		43
Equity securities:
United States companies	327		—		—		327
International companies	15		—		—		15
Investment funds⁽²⁾	54		—		—		54
Total assets in the fair value hierarchy	$	400	$	153	$	—	553
Investment funds⁽²⁾measured at net asset value							285
Limited partnership interests⁽³⁾measured at net asset value							104
Investments at fair value							$	942

As of December 31, 2017:
Cash equivalents	$	—	$	43	$	—	$	43
Debt securities:
United States government obligations	45		—		—		45
Corporate obligations	—		60		—		60
Municipal obligations	—		9		—		9
Agency, asset and mortgage-backed obligations	—		37		—		37
Equity securities:
United States companies	416		—		—		416
International companies	22		—		—		22
Total assets in the fair value hierarchy	$	483	$	149	$	—	632
Investment funds⁽²⁾measured at net asset value							416
Limited partnership interests⁽³⁾measured at net asset value							63
Investments at fair value							$	1,111


(1)	Refer to Note 12 for additional discussion regarding the three levels of the fair value hierarchy.


(2)	Investment funds are substantially comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 55% and 45% respectively, for 2018 and 60% and 40%, respectively, for 2017, and are invested in United States and international securities of approximately 68% and 32%, respectively, for 2018 and 57% and 43%, respectively, for 2017.


(3)	Limited partnership interests include several funds that invest primarily in real estate, buyout, growth equity and venture capital.

The following table presents the fair value of plan assets, by major category, for PacifiCorp's defined benefit other postretirement plan (in millions):



	Input Levels for Fair Value Measurements
	Level 1(1)		Level 2(1)		Level 3(1)		Total
As of December 31, 2018:
Cash and cash equivalents	$	4	$	1	$	—	$	5
Debt securities:
United States government obligations	3		—		—		3
Corporate obligations	—		23		—		23
Municipal obligations	—		2		—		2
Agency, asset and mortgage-backed obligations	—		17		—		17
Equity securities:
United States companies	83		—		—		83
International companies	4		—		—		4
Investment funds⁽²⁾	38		—		—		38
Total assets in the fair value hierarchy	132		43		—		175
Investment funds⁽²⁾ measured at net asset value							116
Limited partnership interests⁽³⁾ measured at net asset value							6
Investments at fair value							$	297

As of December 31, 2017:
Cash and cash equivalents	$	4	$	3	$	—	$	7
Debt securities:
United States government obligations	11		—		—		11
Corporate obligations	—		16		—		16
Municipal obligations	—		2		—		2
Agency, asset and mortgage-backed obligations	—		16		—		16
Equity securities:
United States companies	98		—		—		98
International companies	6		—		—		6
Investment funds⁽²⁾	32		—		—		32
Total assets in the fair value hierarchy	151		37		—		188
Investment funds⁽²⁾ measured at net asset value							140
Limited partnership interests⁽³⁾ measured at net asset value							4
Investments at fair value							$	332


(1)	Refer to Note 12 for additional discussion regarding the three levels of the fair value hierarchy.


(2)	Investment funds are substantially comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 59% and 41%, respectively, for 2018 and 63% and 37%, respectively, for 2017, and are invested in United States and international securities of approximately 90% and 10%, respectively, for 2018 and 77% and 23%, respectively, for 2017.


(3)	Limited partnership interests include several funds that invest primarily in real estate, buyout, growth equity and venture capital.

The following table presents PacifiCorp's assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions):



	Input Levels for Fair Value Measurements
	Level 1		Level 2			Level 3		Other⁽¹⁾			Total
As of December 31, 2018:
Assets:
Commodity derivatives	$	—	$	51		$	—	$	(23	)	$	28
Money market mutual funds⁽²⁾	69		—			—		—			69
Investment funds	24		—			—		—			24
	$	93	$	51		$	—	$	(23	)	$	121

Liabilities - Commodity derivatives	$	—	$	(148	)	$	—	$	82		$	(66	)

As of December 31, 2017:
Assets:
Commodity derivatives	$	—	$	13		$	—	$	(4	)	$	9
Money market mutual funds ⁽²⁾	21		—			—		—			21
Investment funds	21		—			—		—			21
	$	42	$	13		$	—	$	(4	)	$	51

Liabilities - Commodity derivatives	$	—	$	(117	)	$	—	$	78		$	(39	)


(1)	Represents netting under master netting arrangements and a net cash collateral receivable of $59 million and $74 million as of December 31, 2018 and 2017, respectively.


(2)	Amounts are included in cash and cash equivalents, other current assets and other assets on the Consolidated Balance Sheets. The fair value of these money market mutual funds approximates cost.

Fair Value, by Balance Sheet Grouping [Table Text Block]

The following table presents the carrying value and estimated fair value of PacifiCorp's long-term debt as of December 31 (in millions):



	2018				2017
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value

Long-term debt	$	7,015	$	7,833	$	7,005	$	8,370

MidAmerican Energy Company [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following table presents the fair value of plan assets, by major category, for MidAmerican Energy's defined benefit pension plan (in millions):



	Input Levels for Fair Value Measurements⁽¹⁾
	Level 1		Level 2		Level 3		Total
As of December 31, 2018:
Cash equivalents	$	—	$	20	$	—	$	20
Debt securities:
United States government obligations	6		—		—		6
Corporate obligations	—		63		—		63
Municipal obligations	—		6		—		6
Agency, asset and mortgage-backed obligations	—		37		—		37
Equity securities:
United States companies	111		—		—		111
International companies	35		—		—		35
Investment funds⁽²⁾	65		—		—		65
Total assets in the hierarchy	$	217	$	126	$	—	—
Investment funds⁽²⁾ measured at net asset value							260
Real estate funds measured at net asset value							41
Total assets measured at fair value							$	644

As of December 31, 2017:
Cash equivalents	$	—	$	17	$	—	$	17
Debt securities:
United States government obligations	21		—		—		21
Corporate obligations	—		59		—		59
Municipal obligations	—		7		—		7
Agency, asset and mortgage-backed obligations	—		33		—		33
Equity securities:
United States companies	137		—		—		137
International companies	44		—		—		44
Investment funds⁽²⁾	74		—		—		74
Total assets in the hierarchy	$	276	$	116	$	—	392
Investment funds⁽²⁾ measured at net asset value							315
Real estate funds measured at net asset value							38
Total assets measured at fair value							$	745


(1)	Refer to Note 12 for additional discussion regarding the three levels of the fair value hierarchy.


(2)	Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 65% and 35%, respectively, for 2018 and 69% and 31%, respectively, for 2017. Additionally, these funds are invested in United States and international securities of approximately 74% and 26%, respectively, for 2018 and 72% and 28%, respectively, for 2017.

The following table presents the fair value of plan assets, by major category, for MidAmerican Energy's defined benefit other postretirement plans (in millions):



	Input Levels for Fair Value Measurements⁽¹⁾
	Level 1		Level 2		Level 3		Total
As of December 31, 2018:
Cash equivalents	$	5	$	—	$	—	$	5
Debt securities:
United States government obligations	6		—		—		6
Corporate obligations	—		12		—		12
Municipal obligations	—		43		—		43
Agency, asset and mortgage-backed obligations	—		12		—		12
Equity securities:
United States companies	73		—		—		73
Investment funds⁽²⁾	96		—		—		96
Total assets measured at fair value	$	180	$	67	$	—	$	247

As of December 31, 2017:
Cash equivalents	$	6	$	—	$	—	$	6
Debt securities:
United States government obligations	5		—		—		5
Corporate obligations	—		14		—		14
Municipal obligations	—		44		—		44
Agency, asset and mortgage-backed obligations	—		12		—		12
Equity securities:
United States companies	84		—		—		84
Investment funds⁽²⁾	112		—		—		112
Total assets measured at fair value	$	207	$	70	$	—	$	277


(1)	Refer to Note 12 for additional discussion regarding the three levels of the fair value hierarchy.


(2)	Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 78% and 22%, respectively, for 2018 and 81% and 19%, respectively, for 2017. Additionally, these funds are invested in United States and international securities of approximately 41% and 59%, respectively, for 2018 and 42% and 58%, respectively, for 2017.

The following table presents MidAmerican Energy's assets and liabilities recognized on the Balance Sheets and measured at fair value on a recurring basis (in millions):



	Input Levels for Fair Value Measurements
	Level 1		Level 2			Level 3			Other⁽¹⁾			Total
As of December 31, 2018:
Assets:
Commodity derivatives	$	—	$	4		$	2		$	(3	)	$	3
Money market mutual funds⁽²⁾	2		—			—			—			2
Debt securities:
United States government obligations	187		—			—			—			187
International government obligations	—		4			—			—			4
Corporate obligations	—		46			—			—			46
Municipal obligations	—		2			—			—			2
Agency, asset and mortgage-backed obligations	—		1			—			—			1
Equity securities:
United States companies	256		—			—			—			256
International companies	6		—			—			—			6
Investment funds	10		—			—			—			10
	$	461	$	57		$	2		$	(3	)	$	517
Liabilities:
Commodity derivatives	$	—	$	(4	)	$	(2	)	$	3		$	(3	)
Interest rate derivatives⁽³⁾	—		(19		)	—			—			(19		)
	$	—	$	(23	)	$	(2	)	$	3		$	(22	)

As of December 31, 2017
Assets:
Commodity derivatives	$	—	$	3		$	4		$	(2	)	$	5
Money market mutual funds⁽²⁾	133		—			—			—			133
Debt securities:
United States government obligations	176		—			—			—			176
International government obligations	—		5			—			—			5
Corporate obligations	—		36			—			—			36
Municipal obligations	—		2			—			—			2
Equity securities:
United States companies	288		—			—			—			288
International companies	7		—			—			—			7
Investment funds	15		—			—			—			15
	$	619	$	46		$	4		$	(2	)	$	667

Liabilities - commodity derivatives	$	—	$	(9	)	$	(1	)	$	2		$	(8	)


(1)	Represents netting under master netting arrangements and a net cash collateral receivable of $- million as of December 31, 2018 and 2017.


(2)	Amounts are included in cash and cash equivalents and investments and restricted cash and investments on the Balance Sheets. The fair value of these money market mutual funds approximates cost.

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table reconciles the beginning and ending balances of MidAmerican Energy's assets measured at fair value on a recurring basis using significant Level 3 inputs for the years ended December 31 (in millions):



	Commodity Derivatives									Auction Rate Securities
	2018			2017			2016			2018		2017		2016

Beginning balance	$	3		$	(2	)	$	(6	)	$	—	$	—	$	26
Transfer to affiliate⁽¹⁾	—			—			(4		)	—		—		—
Changes included in earnings	—			—			—			—		—		5
Changes in fair value recognized in OCI	—			—			—			—		—		4
Changes in fair value recognized in net regulatory assets	(3		)	2			(6		)	—		—		—
Redemptions	—			—			—			—		—		(35		)
Settlements	—			3			14			—		—		—
Ending balance	$	—		$	3		$	(2	)	$	—	$	—	$	—


(1)	On January 1, 2016, MidAmerican Energy transferred the assets and liabilities of its unregulated retail services business to a subsidiary of BHE.

Fair Value, by Balance Sheet Grouping [Table Text Block]

The following table presents the carrying value and estimated fair value of MidAmerican Energy's long-term debt as of December 31 (in millions):



	2018				2017
	Carrying Value		Fair Value		Carrying Value		Fair Value

Long-term debt	$	5,381	$	5,646	$	5,042	$	5,686

MidAmerican Funding, LLC and Subsidiaries [Domain]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, by Balance Sheet Grouping [Table Text Block]

The following table presents the carrying value and estimated fair value of MidAmerican Funding's long-term debt as of December 31 (in millions):



	2018				2017
	Carrying Value		Fair Value		Carrying Value		Fair Value

Long-term debt	$	5,621	$	5,943	$	5,282	$	6,006

Sierra Pacific Power Company [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following table presents Sierra Pacific's assets and liabilities recognized on the Balance Sheets and measured at fair value on a recurring basis (in millions):



	Input Levels for Fair Value Measurements
	Level 1		Level 2		Level 3		Total
As of December 31, 2018:
Assets:
Commodity derivatives	$	—	$	—	$	2	$	2
Money market mutual funds⁽¹⁾	45		—		—		45
	$	45	$	—	$	2	$	47

As of December 31, 2017:
Assets - investment funds	$	—	$	—	$	—	$	—


(1)	Amounts are included in cash and cash equivalents on the Balance Sheets. The fair value of these money market mutual funds approximates cost.

Fair Value, by Balance Sheet Grouping [Table Text Block]

The following table presents the carrying value and estimated fair value of Sierra Pacific's long-term debt as of December 31 (in millions):



	2018				2017
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value

Long-term debt	$	1,120	$	1,167	$	1,120	$	1,221