Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

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
	2019			2018			2017			2019			2018			2017

Beginning balance	$	99		$	94		$	60		$	10		$	9		$	6
Changes included in earnings	10			1			23			479			181			147
Changes in fair value recognized in OCI	(1		)	2			(3		)	—			—			—
Changes in fair value recognized in net regulatory assets	(26		)	3			(1		)	—			—			—
Purchases	6			3			1			—			—			4
Settlements	9			(4		)	14			(475		)	(180		)	(148		)
Ending balance	$	97		$	99		$	94		$	14		$	10		$	9

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, 2019:
Cash equivalents	$	3	$	24	$	—	$	27
Debt securities:
United Kingdom government obligations	960		—		—		960
Equity securities:
Investment funds⁽²⁾	—		818		—		818
Real estate funds	—		—		243		243
Total	$	963	$	842	$	243	2,048
Investment funds⁽²⁾ measured at net asset value							103
Total assets measured at fair value							$	2,151

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


(1)	Refer to Note 15 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 38% and 62%, respectively, for 2019 and 36% and 64%, respectively, for 2018.

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, 2019:
Cash equivalents	$	27	$	36	$	63
Debt securities:
United States government obligations	210		—		210
International government obligations	—		5		5
Corporate obligations	—		376		376
Municipal obligations	—		28		28
Agency, asset and mortgage-backed obligations	—		115		115
Equity securities:
United States companies	547		1		548
International companies	136		—		136
Investment funds⁽²⁾	125		—		125
Total assets in the fair value hierarchy	$	1,045	$	561	1,606
Investment funds⁽²⁾ measured at net asset value					915
Limited partnership interests⁽³⁾ measured at net asset value					93
Real estate funds measured at net asset value					42
Total assets measured at fair value					$	2,656

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


(1)	Refer to Note 15 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 62% and 38%, respectively, for 2019 and 59% and 41%, respectively, for 2018. Additionally, these funds are invested in United States and international securities of approximately 66% and 34%, respectively, for 2019 and 73% and 27%, respectively, for 2018.


(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, 2019:
Cash equivalents	$	17	$	1	$	18
Debt securities:
United States government obligations	23		—		23
Corporate obligations	—		44		44
Municipal obligations	—		57		57
Agency, asset and mortgage-backed obligations	—		33		33
Equity securities:
United States companies	151		—		151
International companies	6		—		6
Investment funds	236		—		236
Total assets in the fair value hierarchy	$	433	$	135	568
Investment funds measured at net asset value					169
Limited partnership interests measured at net asset value					5
Total assets measured at fair value					$	742

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⁽²⁾	202		1		203
Total assets in the fair value hierarchy	$	389	$	120	509
Investment funds⁽²⁾ measured at net asset value					149
Limited partnership interests⁽³⁾ measured at net asset value					6
Total assets measured at fair value					$	664


(1)	Refer to Note 15 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 58% and 42%, respectively, for 2019 and 65% and 35%, respectively, for 2018. Additionally, these funds are invested in United States and international securities of approximately 75% and 25%, respectively, for 2019 and 79% and 21%, respectively, for 2018.


(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, 2019:
Assets:
Commodity derivatives	$	—		$	45		$	108		$	(24	)	$	129
Interest rate derivatives	—			2			14			—			16
Mortgage loans held for sale	—			1,039			—			—			1,039
Money market mutual funds⁽²⁾	824			—			—			—			824
Debt securities:
United States government obligations	189			—			—			—			189
International government obligations	—			4			—			—			4
Corporate obligations	—			58			—			—			58
Municipal obligations	—			1			—			—			1
Agency, asset and mortgage-backed obligations	—			1			—			—			1
Equity securities:
United States companies	336			—			—			—			336
International companies	1,131			—			—			—			1,131
Investment funds	169			—			—			—			169
	$	2,649		$	1,150		$	122		$	(24	)	$	3,897
Liabilities:
Commodity derivatives	$	(4	)	$	(143	)	$	(11	)	$	103		$	(55	)
Interest rate derivatives	(2		)	(19		)	—			—			(21		)
	$	(6	)	$	(162	)	$	(11	)	$	103		$	(76	)



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	)


(1)	Represents netting under master netting arrangements and a net cash collateral receivable of $79 million and $59 million as of December 31, 2019 and 2018, 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):



	2019				2018
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value

Long-term debt	$	39,353	$	46,004	$	36,774	$	39,398

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, 2019:
Cash equivalents	$	—	$	24	$	—	$	24
Debt securities:
United States government obligations	21		—		—		21
Corporate obligations	—		94		—		94
Municipal obligations	—		10		—		10
Agency, asset and mortgage-backed obligations	—		42		—		42
Equity securities:
United States companies	355		—		—		355
International companies	15		—		—		15
Investment funds⁽²⁾	55		—		—		55
Total assets in the fair value hierarchy	$	446	$	170	$	—	616
Investment funds⁽²⁾measured at net asset value							327
Limited partnership interests⁽³⁾measured at net asset value							93
Investments at fair value							$	1,036

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


(1)	Refer to Note 13 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 both 2019 and 2018, and are invested in United States and international securities of approximately 51% and 49%, respectively, for 2019 and 68% and 32%, respectively, for 2018.


(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, 2019:
Cash and cash equivalents	$	8	$	1	$	—	$	9
Debt securities:
United States government obligations	12		—		—		12
Corporate obligations	—		26		—		26
Municipal obligations	—		2		—		2
Agency, asset and mortgage-backed obligations	—		22		—		22
Equity securities:
United States companies	74		—		—		74
International companies	4		—		—		4
Investment funds⁽²⁾	44		—		—		44
Total assets in the fair value hierarchy	142		51		—		193
Investment funds⁽²⁾ measured at net asset value							136
Limited partnership interests⁽³⁾ measured at net asset value							5
Investments at fair value							$	334

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


(1)	Refer to Note 13 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 56% and 44%, respectively, for 2019 and 59% and 41%, respectively, for 2018, and are invested in United States and international securities of approximately 79% and 21%, respectively, for 2019 and 90% and 10%, respectively, for 2018.


(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, 2019:
Assets:
Commodity derivatives	$	—	$	21		$	—	$	(7	)	$	14
Money market mutual funds⁽²⁾	23		—			—		—			23
Investment funds	25		—			—		—			25
	$	48	$	21		$	—	$	(7	)	$	62

Liabilities - Commodity derivatives	$	—	$	(84	)	$	—	$	54		$	(30	)

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	)


(1)	Represents netting under master netting arrangements and a net cash collateral receivable of $47 million and $59 million as of December 31, 2019 and 2018, 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):



	2019				2018
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value

Long-term debt	$	7,658	$	9,280	$	7,015	$	7,833

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, 2019:
Cash equivalents	$	21	$	—	$	—	$	21
Debt securities:
United States government obligations	16		—		—		16
Corporate obligations	—		61		—		61
Municipal obligations	—		5		—		5
Agency, asset and mortgage-backed obligations	—		33		—		33
Equity securities:
United States companies	129		—		—		129
International companies	42		—		—		42
Investment funds⁽²⁾	69		—		—		69
Total assets in the hierarchy	$	277	$	99	$	—	376
Investment funds⁽²⁾ measured at net asset value							299
Real estate funds measured at net asset value							42
Total assets measured at fair value							$	717

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	$	—	343
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


(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 69% and 31%, respectively, for 2019 and 65% and 35%, respectively, for 2018. Additionally, these funds are invested in United States and international securities of approximately 74% and 26%, respectively, for 2019 and 74% and 26%, respectively, for 2018.

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, 2019:
Cash equivalents	$	6	$	—	$	—	$	6
Debt securities:
United States government obligations	6		—		—		6
Corporate obligations	—		12		—		12
Municipal obligations	—		55		—		55
Agency, asset and mortgage-backed obligations	—		10		—		10
Equity securities:
United States companies	75		—		—		75
Investment funds⁽²⁾	108		—		—		108
Total assets measured at fair value	$	195	$	77	$	—	$	272

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


(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 77% and 23%, respectively, for 2019 and 78% and 22%, respectively, for 2018. Additionally, these funds are invested in United States and international securities of approximately 42% and 58%, respectively, for 2019 and 41% and 59%, respectively, for 2018.

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, 2019:
Assets:
Commodity derivatives	$	—	$	2		$	1		$	(1	)	$	2
Money market mutual funds⁽²⁾	274		—			—			—			274
Debt securities:
United States government obligations	189		—			—			—			189
International government obligations	—		4			—			—			4
Corporate obligations	—		58			—			—			58
Municipal obligations	—		1			—			—			1
Agency, asset and mortgage-backed obligations	—		1			—			—			1
Equity securities:
United States companies	336		—			—			—			336
International companies	9		—			—			—			9
Investment funds	15		—			—			—			15
	$	823	$	66		$	1		$	(1	)	$	889

Liabilities - commodity derivatives	$	—	$	(9	)	$	—		$	2		$	(7	)

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	)


(1)	Represents netting under master netting arrangements and a net cash collateral receivable of $1 million and $- million as of December 31, 2019 and 2018, respectively.


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


(3)	The interest rate derivatives were interest rate locks related to MidAmerican Energy's January 2019 issuance of first mortgage bonds.

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):



	2019				2018
	Carrying Value		Fair Value		Carrying Value		Fair Value

Long-term debt	$	7,208	$	8,283	$	5,379	$	5,644

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):



	2019				2018
	Carrying Value		Fair Value		Carrying Value		Fair Value

Long-term debt	$	7,448	$	8,599	$	5,619	$	5,941

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, 2019:
Assets:
Commodity derivatives	$	—	$	—	$	—		$	—
Money market mutual funds⁽¹⁾	10		—		—			10
Investment funds	2		—		—			2
	$	12	$	—	$	—		$	12

Liabilities - commodity derivatives	$	—	$	—	$	(8	)	$	(8	)

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	)


(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):



	2019			2018			2017
Beginning balance	$	3		$	(3	)	$	(14	)
Changes in fair value recognized in regulatory assets or liabilities	(21		)	4			(3		)
Settlements	10			2			14
Ending balance	$	(8	)	$	3		$	(3	)

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):



	2019				2018
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value

Long-term debt	$	2,351	$	2,848	$	2,353	$	2,651

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, 2019:
Assets - money market mutual funds⁽¹⁾	$	25	$	—	$	—		$	25

Liabilities - commodity derivatives	$	—	$	—	$	(1	)	$	(1	)

As of December 31, 2018:
Assets:
Commodity derivatives	$	—	$	—	$	2		$	2
Money market mutual funds⁽¹⁾	45		—		—			45
	$	45	$	—	$	2		$	47


(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):



	2019				2018
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value

Long-term debt	$	1,135	$	1,258	$	1,120	$	1,167