Fair Value (Tables)

6 Months Ended

Jun. 30, 2020

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

Fair Value and Cost Of Non-Derivative Instruments

The following table presents the fair value, carrying value and cost of our non-derivative instruments at June 30, 2020 and December 31, 2019. Further information about the fair value of our derivative instruments can be found in Note 5 – Derivative Instruments and Hedging Activities.

	June 30, 2020				December 31, 2019
$ in millions	Cost		Fair Value		Cost		Fair Value
Assets
Money market funds	$	0.1	$	0.1	$	0.3	$	0.3
Equity securities	2.1		3.7		2.3		4.2
Debt securities	4.1		4.1		4.0		4.1
Hedge funds	—		—		0.1		0.1
Tangible assets	—		—		0.1		0.1
Total Assets	$	6.3	$	7.9	$	6.8	$	8.8
	Carrying Value		Fair Value		Carrying Value		Fair Value
Liabilities
Long-term debt	$	1,772.0	$	1,844.5	$	1,363.1	$	1,404.0

Fair Value of Assets and Liabilities Measured on Recurring Basis

The fair value of assets and liabilities at June 30, 2020 and December 31, 2019 and the respective category within the fair value hierarchy for DPL is as follows:

$ in millions	Fair value at June 30, 2020 (a)								Fair value at December 31, 2019 (a)
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Master Trust assets
Money market funds	$	0.1	$	—	$	—	$	0.1	$	0.3	$	—	$	—	$	0.3
Equity securities	—		3.7		—		3.7		—		4.2		—		4.2
Debt securities	—		4.1		—		4.1		—		4.1		—		4.1
Hedge funds	—		—		—		—		—		0.1		—		0.1
Tangible assets	—		—		—		—		—		0.1		—		0.1
Total Master Trust assets	0.1		7.8		—		7.9		0.3		8.5		—		8.8
Derivative assets
Interest rate hedges	—		—		—		—		—		0.1		—		0.1
Total Derivative assets	—		—		—		—		—		0.1		—		0.1
Total Assets	$	0.1	$	7.8	$	—	$	7.9	$	0.3	$	8.6	$	—	$	8.9
Liabilities
Derivative liabilities
Interest rate hedges	$	—	$	0.1	$	—	$	0.1	$	—	$	—	$	—	$	—
Long-term debt	—		1,827.1		17.4		1,844.5		—		1,386.5		17.5		1,404.0
Total Liabilities	$	—	$	1,827.2	$	17.4	$	1,844.6	$	—	$	1,386.5	$	17.5	$	1,404.0

(a) Includes credit valuation adjustment

THE DAYTON POWER AND LIGHT COMPANY [Member]

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

Fair Value and Cost Of Non-Derivative Instruments

The following table presents the fair value, carrying value and cost of our non-derivative instruments at June 30, 2020 and December 31, 2019. Further information about the fair value of our derivative instruments can be found in Note 5 – Derivative Instruments and Hedging Activities.

	June 30, 2020				December 31, 2019
$ in millions	Cost		Fair Value		Cost		Fair Value
Assets
Money market funds	$	0.1	$	0.1	$	0.3	$	0.3
Equity securities	2.1		3.7		2.3		4.2
Debt securities	4.1		4.1		4.0		4.1
Hedge funds	—		—		0.1		0.1
Tangible assets	—		—		0.1		0.1
Total assets	$	6.3	$	7.9	$	6.8	$	8.8
	Carrying Value		Fair Value		Carrying Value		Fair Value
Liabilities
Long-term debt	$	574.3	$	600.4	$	574.4	$	600.5

Fair Value of Assets and Liabilities Measured on Recurring Basis

The fair value of assets and liabilities at June 30, 2020 and December 31, 2019 and the respective category within the fair value hierarchy for DP&L is as follows:

$ in millions	Fair value at June 30, 2020 (a)								Fair value at December 31, 2019 (a)
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Master Trust assets
Money market funds	$	0.1	$	—	$	—	$	0.1	$	0.3	$	—	$	—	$	0.3
Equity securities	—		3.7		—		3.7		—		4.2		—		4.2
Debt securities	—		4.1		—		4.1		—		4.1		—		4.1
Hedge funds	—		—		—		—		—		0.1		—		0.1
Tangible assets	—		—		—		—		—		0.1		—		0.1
Total Master Trust assets	0.1		7.8		—		7.9		0.3		8.5		—		8.8
Derivative assets
Interest rate hedges	—		—		—		—		—		0.1		—		0.1
Total derivative assets	—		—		—		—		—		0.1		—		0.1
Total assets	$	0.1	$	7.8	$	—	$	7.9	$	0.3	$	8.6	$	—	$	8.9
Liabilities
Derivative liabilities
Interest rate hedges	$	—	$	0.1	$	—	$	0.1	$	—	$	—	$	—	$	—
Long-term debt	—		583.0		17.4		600.4		—		583.0		17.5		600.5
Total liabilities	$	—	$	583.1	$	17.4	$	600.5	$	—	$	583.0	$	17.5	$	600.5

(a) Includes credit valuation adjustment