Fair Value Measurements (Tables)

3 Months Ended

12 Months Ended

15 Months Ended

Mar. 31, 2013

Dec. 31, 2012

Mar. 31, 2013

Fair Value and Cost of Non-Derivative Instruments



	At March 31,				At December 31,
	2013				2012
$ in millions	Cost		Fair Value		Cost		Fair Value
Assets
Money Market Funds	$	0.2	$	0.2	$	0.2	$	0.2
Equity Securities		4.0		5.7		4.0		5.1
Debt Securities		4.5		4.9		4.6		5.0
Multi-Strategy Fund		0.3		0.3		0.3		0.3
Total Assets	$	9.0	$	11.1	$	9.1	$	10.6

Liabilities
Debt	$	2,605.1	$	2,705.4	$	2,609.9	$	2,707.1

Fair Value and Redemption Frequency



Fair Value Estimated Using Net Asset Value per Unit

$ in millions	Fair Value at March 31, 2013		Fair Value at December 31, 2012		Unfunded Commitments		Redemption Frequency

Money Market Fund ^(a)	$	0.2	$	0.2	$	-	Immediate
Equity Securities ^(b)		5.7		5.1		-	Immediate
Debt Securities ^(c)		4.9		5.0		-	Immediate
Multi-Strategy Fund ^(d)		0.3		0.3		-	Immediate
Total	$	11.1	$	10.6	$	-

Fair Value of Assets and Liabilities Measured on Recurring Basis



Assets and Liabilities Measured at Fair Value on a Recurring Basis
			Level 1		Level 2		Level 3
$ in millions	Fair Value at March 31, 2013		Based on Quoted Prices in Active Markets		Other Observable Inputs		Unobservable Inputs
Assets
Master Trust Assets
Money Market Funds	$	0.2	$	0.2	$	-	$	-
Equity Securities		5.7		-		5.7		-
Debt Securities		4.9		-		4.9		-
Multi-Strategy Fund		0.3		-		0.3		-
Total Master Trust Assets		11.1		0.2		10.9		-

Derivative Assets
Heating Oil Futures		0.2		0.2		-		-
Forward Power Contracts		5.8		-		5.8		-
Total Derivative Assets		6.0		0.2		5.8		-

Total Assets	$	17.1	$	0.4	$	16.7	$	-

Liabilities
Derivative Liabilities
Interest Rate Hedge	$	23.2	$	-	$	23.2	$	-
Forward Power Contracts		23.3		-		23.3		-
Total Derivative Liabilities		46.5		-		46.5		-

Long-term Debt		2,705.4		-		2,686.6		18.8

Total Liabilities	$	2,751.9	$	-	$	2,733.1	$	18.8



Assets and Liabilities Measured at Fair Value on a Recurring Basis
			Level 1		Level 2		Level 3
$ in millions	Fair Value at December 31, 2012		Based on Quoted Prices in Active Markets		Other Observable Inputs		Unobservable Inputs
Assets
Master Trust Assets
Money Market Funds	$	0.2	$	0.2	$	-	$	-
Equity Securities		5.1		-		5.1		-
Debt Securities		5.0		-		5.0		-
Multi-Strategy Fund		0.3		-		0.3		-
Total Master Trust Assets		10.6		0.2		10.4		-

Derivative Assets
Heating Oil Futures		0.2		0.2		-		-
Forward Power Contracts		6.3		-		6.3		-
Total Derivative Assets		6.5		0.2		6.3		-

Total Assets	$	17.1	$	0.4	$	16.7	$	-

Liabilities
Derivative Liabilities
FTRs	$	0.1	$	-	$	-	$	0.1
Interest Rate Hedge		29.5		-		29.5		-
Forward Power Contracts		13.1		-		13.1		-
Total Derivative Liabilities		42.7		-		42.6		0.1

Long-term debt		2,707.1		-		2,688.2		18.9

Total Liabilities	$	2,749.8	$	-	$	2,730.8	$	19.0

DP&L [Member]

Fair Value and Cost of Non-Derivative Instruments



	At March 31,				At December 31,
	2013				2012
$ in millions	Cost		Fair Value		Cost		Fair Value
Assets
Money Market Funds	$	0.2	$	0.2	$	0.2	$	0.2
Equity Securities		4.0		5.7		4.0		5.1
Debt Securities		4.5		4.9		4.6		5.0
Multi-Strategy Fund		0.3		0.3		0.3		0.3
Total Assets	$	9.0	$	11.1	$	9.1	$	10.6

Liabilities
Debt	$	903.1	$	921.8	$	903.1	$	926.9

Fair Value and Redemption Frequency



Fair Value Estimated Using Net Asset Value per Unit
$ in millions	Fair Value at March 31, 2013		Fair Value at December 31, 2012		Unfunded Commitments		Redemption Frequency

Money Market Fund ^(a)	$	0.2	$	0.2	$	-	Immediate
Equity Securities ^(b)		5.7		5.1		-	Immediate
Debt Securities ^(c)		4.9		5.0		-	Immediate
Multi-Strategy Fund ^(d)		0.3		0.3		-	Immediate
Total	$	11.1	$	10.6	$	-

Fair Value of Assets and Liabilities Measured on Recurring Basis



Assets and Liabilities Measured at Fair Value on a Recurring Basis
			Level 1		Level 2		Level 3
$ in millions	Fair Value at March 31, 2013		Based on Quoted Prices in Active Markets		Other Observable Inputs		Unobservable Inputs
Assets
Master Trust Assets
Money Market Funds	$	0.2	$	0.2	$	-	$	-
Equity Securities		5.7		-		5.7		-
Debt Securities		4.9		-		4.9		-
Multi-Strategy Fund		0.3		-		0.3		-
Total Master Trust Assets		11.1		0.2		10.9		-

Derivative Assets
Heating Oil Futures		0.2		0.2		-		-
Forward Power Contracts		6.6		-		6.6		-
Total Derivative Assets		6.8		0.2		6.6		-

Total Assets	$	17.9	$	0.4	$	17.5	$	-

Liabilities
Derivative Liabilities
Forward Power Contracts	$	22.9	$	-	$	22.9	$	-
Total Derivative Liabilities		22.9		-		22.9		-

Long-term Debt		921.8		-		903.0		18.8

Total Liabilities	$	944.7	$	-	$	925.9	$	18.8



Assets and Liabilities Measured at Fair Value on a Recurring Basis
			Level 1		Level 2		Level 3
$ in millions	Fair Value at December 31, 2012		Based on Quoted Prices in Active Markets		Other Observable Inputs		Unobservable Inputs
Assets
Master Trust Assets
Money Market Funds	$	0.2	$	0.2	$	-	$	-
Equity Securities		5.1		-		5.1		-
Debt Securities		5.0		-		5.0		-
Multi-Strategy Fund		0.3		-		0.3		-
Total Master Trust Assets		10.6		0.2		10.4		-

Derivative Assets
Heating Oil Futures		0.2		0.2		-		-
Forward Power Contracts		7.3		-		7.3		-
Total Derivative Assets		7.5		0.2		7.3		-

Total Assets	$	18.1	$	0.4	$	17.7	$	-

Liabilities
Derivative Liabilities
FTRs	$	0.1	$	-	$	-	$	0.1
Forward Power Contracts		11.6		-		11.6		-
Total Derivative Liabilities		11.7		-		11.6		0.1

Long-term debt		926.9		-		908.0		18.9

Total Liabilities	$	938.6	$	-	$	919.6	$	19.0

- Definition

Tabular disclosure of the fair value of investees that calculate net asset value per share (including by unit, membership interest, or other equity (ownership interest) unit measure) (alternative investments), whether measured at fair value on a recurring or nonrecurring basis, by major category of assets and liabilities (as defined), including, for example, (i) fair value measurements at the reporting date, (ii) the level within the fair value hierarchy in which the fair value measurements fall, (iii) a reconciliation of beginning and ending balances for those alternative investments that are measured at fair value using unobservable inputs (Level 3 - fair value hierarchy fair value measurement inputs), (iv) the inputs and valuation techniques used to measure fair value, (v) a discussion of changes to valuation techniques and inputs, if any, during the period, (vi) a description of the nature and risk associated with the alternative investments, and (vii) a discussion of the probability that any of the alternative investments are to be sold.

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