Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2016

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
	2016			2015			2014			2016			2015			2014		2016			2015			2014

Beginning balance	$	47		$	51		$	60		$	4		$	—		$	—	$	44		$	45		$	44
Changes included in earnings	8			19			19			121			87			—		5			—			—
Changes in fair value recognized in OCI	(2		)	(7		)	—			—			—			—		8			(1		)	1
Changes in fair value recognized in net regulatory assets	(11		)	(19		)	5			—			—			—		—			—			—
Purchases	1			1			1			—			—			—		—			—			—
Redemptions	—			—			—			—			—			—		(57		)	—			—
Settlements	17			2			1			(119		)	(86		)	—		—			—			—
Transfers from Level 2	—			—			(35		)	—			3			—		—			—			—
Ending balance	$	60		$	47		$	51		$	6		$	4		$	—	$	—		$	44		$	45

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

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, 2016:
Assets:
Commodity derivatives	$	5		$	49		$	87		$	(22	)	$	119
Interest rate derivatives	—			16			7			—			23
Mortgage loans held for sale	—			359			—			—			359
Money market mutual funds⁽²⁾	586			—			—			—			586
Debt securities:
United States government obligations	161			—			—			—			161
International government obligations	—			3			—			—			3
Corporate obligations	—			36			—			—			36
Municipal obligations	—			2			—			—			2
Agency, asset and mortgage-backed obligations	—			2			—			—			2
Equity securities:
United States companies	250			—			—			—			250
International companies	1,190			—			—			—			1,190
Investment funds	147			—			—			—			147
	$	2,339		$	467		$	94		$	(22	)	$	2,878
Liabilities:
Commodity derivatives	$	(2	)	$	(199	)	$	(27	)	$	96		$	(132	)
Interest rate derivatives	(1		)	(11		)	(1		)	—			(13		)
	$	(3	)	$	(210	)	$	(28	)	$	96		$	(145	)



As of December 31, 2015:
Assets:
Commodity derivatives	$	—		$	16		$	93		$	(16	)	$	93
Interest rate derivatives	—			5			5			—			10
Mortgage loans held for sale	—			327			—			—			327
Money market mutual funds⁽²⁾	421			—			—			—			421
Debt securities:
United States government obligations	133			—			—			—			133
International government obligations	—			2			—			—			2
Corporate obligations	—			39			—			—			39
Municipal obligations	—			1			—			—			1
Agency, asset and mortgage-backed obligations	—			3			—			—			3
Auction rate securities	—			—			44			—			44
Equity securities:
United States companies	239			—			—			—			239
International companies	1,244			—			—			—			1,244
Investment funds	136			—			—			—			136
	$	2,173		$	393		$	142		$	(16	)	$	2,692
Liabilities:
Commodity derivatives	$	(13	)	$	(283	)	$	(46	)	$	119		$	(223	)
Interest rate derivatives	—			(13		)	(1		)	—			(14		)
	$	(13	)	$	(296	)	$	(47	)	$	119		$	(237	)


(1)	Represents netting under master netting arrangements and a net cash collateral receivable of $74 million and $103 million as of December 31, 2016 and 2015, 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):



	2016				2015
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value

Long-term debt	$	36,116	$	40,718	$	37,972	$	41,785

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, 2016:
Assets:
Money market mutual funds⁽¹⁾	$	220	$	—	$	—		$	220
Investment funds	6		—		—			6
	$	226	$	—	$	—		$	226

Liabilities - commodity derivatives	$	—	$	—	$	(14	)	$	(14	)

As of December 31, 2015:
Assets - investment funds	$	5	$	—	$	—		$	5

Liabilities - commodity derivatives	$	—	$	—	$	(22	)	$	(22	)

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 commodity derivative liabilities measured at fair value on a recurring basis using significant Level 3 inputs for the years ended December 31 (in millions):



	2016			2015			2014
Beginning balance	$	(22	)	$	(30	)	$	(47	)
Changes in fair value recognized in regulatory assets	(4		)	—			9
Settlements	12			8			8
Ending balance	$	(14	)	$	(22	)	$	(30	)

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):



	2016				2015
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value

Long-term debt	$	2,581	$	3,040	$	2,788	$	3,240

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, 2016:
Cash equivalents	$	—	$	10	$	—	$	10
Debt securities:
United States government obligations	25		—		—		25
Corporate obligations	—		36		—		36
Municipal obligations	—		6		—		6
Agency, asset and mortgage-backed obligations	—		37		—		37
Equity securities:
United States companies	389		—		—		389
International companies	15		—		—		15
Investment funds⁽²⁾	83		—		—		83
Total assets in the fair value hierarchy	$	512	$	89	$	—	601
Investment funds⁽²⁾measured at net asset value							337
Limited partnership interests⁽³⁾measured at net asset value							61
Investments at fair value							$	999

As of December 31, 2015:
Cash equivalents	$	—	$	10	$	—	$	10
Debt securities:
United States government obligations	19		—		—		19
Corporate obligations	—		42		—		42
Municipal obligations	—		5		—		5
Agency, asset and mortgage-backed obligations	—		43		—		43
Equity securities:
United States companies	408		—		—		408
International companies	17		—		—		17
Investment funds⁽²⁾	83		—		—		83
Total assets in the fair value hierarchy	$	527	$	100	$	—	627
Investment funds⁽²⁾measured at net asset value							351
Limited partnership interests⁽³⁾measured at net asset value							65
Investments at fair value							$	1,043


(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 54% and 46% respectively, for 2016 and 53% and 47%, respectively, for 2015, and are invested in United States and international securities of approximately 39% and 61%, respectively, for 2016 and 40% and 60%, respectively, for 2015.


(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, 2016:
Cash and cash equivalents	$	4	$	1	$	—	$	5
Debt securities:
United States government obligations	11		—		—		11
Corporate obligations	—		13		—		13
Municipal obligations	—		2		—		2
Agency, asset and mortgage-backed obligations	—		13		—		13
Equity securities:
United States companies	93		—		—		93
International companies	4		—		—		4
Investment funds⁽²⁾	32		—		—		32
Total assets in the fair value hierarchy	$	144	$	29	$	—	173
Investment funds⁽²⁾measured at net asset value							125
Limited partnership interests⁽³⁾measured at net asset value							4
Investments at fair value							$	302

As of December 31, 2015:
Cash and cash equivalents	$	4	$	1	$	—	$	5
Debt securities:
United States government obligations	9		—		—		9
Corporate obligations	—		15		—		15
Municipal obligations	—		1		—		1
Agency, asset and mortgage-backed obligations	—		14		—		14
Equity securities:
United States companies	95		—		—		95
International companies	4		—		—		4
Investment funds⁽²⁾	32		—		—		32
Total assets in the fair value hierarchy	$	144	$	31	$	—	175
Investment funds⁽²⁾measured at net asset value							126
Limited partnership interests⁽³⁾measured at net asset value							4
Investments at fair value							$	305


(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 62% and 38%, respectively, for 2016 and 61% and 39%, respectively, for 2015, and are invested in United States and international securities of approximately 71% and 29%, respectively, for 2016 and 67% and 33%, respectively, for 2015.


(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, 2016:
Assets:
Commodity derivatives	$	—	$	27		$	—	$	(7	)	$	20
Money market mutual funds⁽²⁾	13		—			—		—			13
Investment funds	17		—			—		—			17
	$	30	$	27		$	—	$	(7	)	$	50

Liabilities - Commodity derivatives	$	—	$	(104	)	$	—	$	76		$	(28	)

As of December 31, 2015:
Assets:
Commodity derivatives	$	—	$	9		$	3	$	(3	)	$	9
Money market mutual funds ⁽²⁾	13		—			—		—			13
Investment funds	15		—			—		—			15
	$	28	$	9		$	3	$	(3	)	$	37

Liabilities - Commodity derivatives	$	—	$	(148	)	$	—	$	78		$	(70	)


(1)	Represents netting under master netting arrangements and a net cash collateral receivable of $69 million and $75 million as of December 31, 2016 and 2015, 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):



	2016				2015
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value

Long-term debt	$	7,052	$	8,204	$	7,114	$	8,210

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, 2016:
Cash equivalents	$	—	$	17	$	—	$	17
Debt securities:
United States government obligations	9		—		—		9
Corporate obligations	—		53		—		53
Municipal obligations	—		6		—		6
Agency, asset and mortgage-backed obligations	—		22		—		22
Equity securities:
United States companies	130		—		—		130
International equity securities	39		—		—		39
Investment funds⁽²⁾	63		—		—		63
Total assets in the hierarchy	$	241	$	98	$	—	339
Investment funds⁽²⁾ measured at net asset value							295
Real estate funds measured at net asset value							50
Total assets measured at fair value							$	684

As of December 31, 2015:
Cash equivalents	$	—	$	16	$	—	$	16
Debt securities:
United States government obligations	5		—		—		5
Corporate obligations	—		57		—		57
Municipal obligations	—		6		—		6
Agency, asset and mortgage-backed obligations	—		27		—		27
Equity securities:
United States companies	130		—		—		130
International equity securities	40		—		—		40
Investment funds⁽²⁾	61		—		—		61
Total assets in the hierarchy	$	236	$	106	$	—	342
Investment funds⁽²⁾ measured at net asset value							296
Real estate funds measured at net asset value							40
Total assets measured at fair value							$	678


(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 74% and 26%, respectively, for 2016 and 72% and 28%, respectively, for 2015. Additionally, these funds are invested in United States and international securities of approximately 71% and 29%, respectively, for 2016 and 73% and 27%, respectively, for 2015.

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, 2016:
Cash equivalents	$	10	$	—	$	—	$	10
Debt securities:
United States government obligations	5		—		—		5
Corporate obligations	—		11		—		11
Municipal obligations	—		37		—		37
Agency, asset and mortgage-backed obligations	—		11		—		11
Equity securities:
United States companies	122		—		—		122
Investment funds⁽²⁾	56		—		—		56
Total assets measured at fair value	$	193	$	59	$	—	$	252

As of December 31, 2015:
Cash equivalents	$	5	$	—	$	—	$	5
Debt securities:
United States government obligations	5		—		—		5
Corporate obligations	—		12		—		12
Municipal obligations	—		39		—		39
Agency, asset and mortgage-backed obligations	—		12		—		12
Equity securities:
United States companies	120		—		—		120
Investment funds⁽²⁾	56		—		—		56
Total assets measured at fair value	$	186	$	63	$	—	$	249


(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 70% and 30%, respectively, for 2016 and 68% and 32%, respectively, for 2015. Additionally, these funds are invested in United States and international securities of approximately 30% and 70%, respectively, for 2016 and 32% and 68%, respectively, for 2015.

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, 2016:
Assets:
Commodity derivatives	$	—		$	9		$	1		$	(2	)	$	8
Money market mutual funds⁽²⁾	1			—			—			—			1
Debt securities:
United States government obligations	161			—			—			—			161
International government obligations	—			3			—			—			3
Corporate obligations	—			36			—			—			36
Municipal obligations	—			2			—			—			2
Agency, asset and mortgage-backed obligations	—			2			—			—			2
Equity securities:
United States companies	250			—			—			—			250
International companies	5			—			—			—			5
Investment funds	9			—			—			—			9
	$	426		$	52		$	1		$	(2	)	$	477

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

As of December 31, 2015
Assets:
Commodity derivatives	$	—		$	8		$	18		$	(13	)	$	13
Money market mutual funds⁽²⁾	56			—			—			—			56
Debt securities:
United States government obligations	133			—			—			—			133
International government obligations	—			2			—			—			2
Corporate obligations	—			39			—			—			39
Municipal obligations	—			1			—			—			1
Agency, asset and mortgage-backed obligations	—			3			—			—			3
Auction rate securities	—			—			26			—			26
Equity securities:
United States companies	239			—			—			—			239
International companies	6			—			—			—			6
Investment funds	4			—			—			—			4
	$	438		$	53		$	44		$	(13	)	$	522

Liabilities - commodity derivatives	$	(13	)	$	(61	)	$	(24	)	$	41		$	(57	)


(1)	Represents netting under master netting arrangements and a net cash collateral receivable of $1 million and $28 million as of December 31, 2016 and 2015, respectively.


(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
	2016			2015			2014			2016			2015		2014

Beginning balance	$	(6	)	$	12		$	(3	)	$	26		$	26	$	23
Transfer to affiliate	(4		)	—			—			—			—		—
Changes included in earnings⁽¹⁾	—			11			12			5			—		—
Changes in fair value recognized in OCI	—			(7		)	—			4			—		3
Changes in fair value recognized in net regulatory assets	(6		)	(25		)	6			—			—		—
Purchases	—			1			1			—			—		—
Redemptions	—			—			—			(35		)	—		—
Settlements	14			2			(4		)	—			—		—
Ending balance	$	(2	)	$	(6	)	$	12		$	—		$	26	$	26

(1)

Changes included in earnings related to MidAmerican Energy's unregulated retail services business that was transferred to an affiliate of BHE. Refer to Note 3 for a discussion of discontinued operations. Net unrealized (losses) gains included in earnings for the years ended December 31, 2015 and 2014, related to commodity derivatives held at December 31, 2015 and 2014, totaled $8 million and $16 million, respectively.

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):



	2016				2015
	Carrying Value		Fair Value		Carrying Value		Fair Value

Long-term debt	$	4,301	$	4,735	$	4,271	$	4,636

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):



	2016				2015
	Carrying Value		Fair Value		Carrying Value		Fair Value

Long-term debt	$	4,627	$	5,164	$	4,597	$	5,051

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 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, 2016:
Assets:
Money market mutual funds⁽¹⁾	$	35	$	—	$	—		$	35
Investment funds	1		—		—			1
	$	36	$	—	$	—		$	36

As of December 31, 2015:
Assets - investment funds	$	1	$	—	$	—		$	1

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


(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, 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):



	2016				2015
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value

Long-term debt	$	1,119	$	1,191	$	1,165	$	1,248