Fair Value Measurements (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2012

Dec. 31, 2011

Fair Value and Cost of Non-Derivative Instruments


		Successor
		At March 31,				At December 31,
$ in millions		2012				2011
		Cost	Fair Value			Cost	Fair Value
Assets
Money Market Funds	$	0.2	$	0.2	$	0.2	$	0.2
Equity Securities		3.9		5.0		3.9		4.4
Debt Securities		5.1		5.5		5.0		5.5
Multi-Strategy Fund		0.3		0.3		0.3		0.2
Total Assets	$	9.5	$	11.0	$	9.4	$	10.3

Liabilities
Debt	$	2,624.5	$	2,723.4	$	2,629.3	$	2,710.6

Fair Value and Redemption Frequency


		Fair Value Estimated Using Net Asset Value per Unit (Successor)
				Fair Value at
		Fair Value at	December 31,			Unfunded
$ in millions		March 31, 2012		2011		Commitments
Money Market Fund (a)	$	0.2	$	0.2	$	-
Equity Securities (b)		5.0		4.4		-
Debt Securities (c)		5.5		5.5		-
Multi-Strategy Fund (d)		0.3		0.2		-
Total	$	11.0	$	10.3	$	-

Fair Value of Assets and Liabilities Measured on Recurring Basis


		Assets and Liabilities Measured at Fair Value on a Recurring Basis (Successor)
					Level 1		Level 2				Level 3
																Fair Value on
		Fair Value at		Based on Quoted			Other						Collateral and			Balance Sheet
		March 31,		Prices in Active			Observable			Unobservable			Counterparty			at March 31,
$ in millions		2012	*		Markets		Inputs				Inputs			Netting			2012
Assets
Master Trust Assets
Money Market Funds	$	0.2		$	-		$	0.2		$	-		$	-		$	0.2
Equity Securities		5.0			-			5.0			-			-			5.0
Debt Securities		5.5			-			5.5			-			-			5.5
Multi-Strategy Fund		0.3			-			0.3			-			-			0.3
Total Master Trust Assets		11.0			-			11.0			-			-			11.0
Derivative Assets
FTRs		0.1			-			0.1			-			-			0.1
Heating Oil Futures		1.6			1.6			-			-			(1.6	)		-
Forward Power Contracts		18.2			-			18.2			-			(0.7	)		17.5
Total Derivative Assets		19.9			1.6			18.3			-			(2.3	)		17.6

Total Assets	$	30.9		$	1.6		$	29.3		$	-		$	(2.3	)	$	28.6

Liabilities
Derivative Liabilities
Interest Rate Hedge	$	(16.8	)	$	-		$	(16.8	)	$	-		$	-		$	(16.8	)
Forward NYMEX Coal Contracts		(22.3	)		-			(22.3	)		-			16.0			(6.3	)
Forward Power Contracts		(16.0	)		-			(16.0	)		-			10.7			(5.3	)
Total Derivative Liabilities		(55.1	)		-			(55.1	)		-			26.7			(28.4	)

Long-term Debt		(2,723.4	)		-		(2,704.2		)		(19.2	)		-			(2,723.4	)

Total Liabilities	$	(2,778.5	)	$	-	$	(2,759.3		)	$	(19.2	)	$	26.7		$	(2,751.8	)


		Assets and Liabilities Measured at Fair Value on a Recurring Basis (Successor)
					Level 1	Level 2				Level 3
															Fair Value on
		Fair Value at		Based on Quoted		Other					Collateral and			Balance Sheet at
		December 31,		Prices in Active		Observable				Unobservable		Counterparty			December 31,
$ in millions		2011 *		Markets		Inputs				Inputs		Netting			2011
Assets
Master Trust Assets
Money Market Funds	$	0.2		$	-	$	0.2		$	-	$	-		$	0.2
Equity Securities		4.4			-		4.4			-		-			4.4
Debt Securities		5.5			-		5.5			-		-			5.5
Multi-Strategy Fund		0.2			-		0.2			-		-			0.2
Total Master Trust Assets		10.3			-		10.3			-		-			10.3
Derivative Assets
FTRs		0.1			-		0.1			-		-			0.1
Heating Oil Futures		1.8			1.8		-			-		(1.8	)		-
Forward Power Contracts		17.3			-		17.3			-		(1.0	)		16.3
Total Derivative Assets		19.2			1.8		17.4			-		(2.8	)		16.4

Total Assets	$	29.5		$	1.8	$	27.7		$	-	$	(2.8	)	$	26.7

Liabilities
Derivative Liabilities
Interest Rate Hedge	$	(32.5	)	$	-	$	(32.5	)	$	-	$	-		$	(32.5	)
Forward NYMEX Coal Contracts		(14.5	)		-		(14.5	)		-		10.8			(3.7	)
Forward Power Contracts		(13.3	)		-		(13.3	)		-		5.6			(7.7	)
Total Derivative Liabilities		(60.3	)		-		(60.3	)		-		16.4			(43.9	)

Total Liabilities	$	(60.3	)	$	-	$	(60.3	)	$	-	$	16.4		$	(43.9	)

DP&L [Member]

Fair Value and Cost of Non-Derivative Instruments


		At March 31,				At December 31,
		2012				2011
$ in millions		Cost	Fair Value			Cost	Fair Value

Assets
Money Market Funds	$	0.2	$	0.2	$	0.2	$	0.2
Equity Securities ^(a)		3.9		5.0		3.9		4.4
Debt Securities		5.1		5.5		5.0		5.5
Multi-Strategy Fund		0.3		0.3		0.3		0.2
	$	9.5	$	11.0	$	9.4	$	10.3

Liabilities
Debt	$	903.3	$	930.6	$	903.4	$	934.5

Fair Value and Redemption Frequency


		Fair Value Estimated Using Net Asset Value per Unit
				Fair Value at
		Fair Value at		December 31,		Unfunded	Redemption
$ in millions		March 31, 2012		2011		Commitments	Frequency
Money Market Fund (a)	$	0.2	$	0.2	$	-	Immediate
Equity Securities (b)		5.0		4.4		-	Immediate
Debt Securities (c)		5.5		5.5		-	Immediate
Multi-Strategy Fund (d)		0.3		0.2		-	Immediate
Total	$	11.0	$	10.3	$	-

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

		Fair Value at			Based on Quoted		Other					Collateral and				Fair Value on
		March 31,			Prices in Active	Observable			Unobservable			Counterparty			Balance Sheet at
$ in millions		2012	*		Markets		Inputs			Inputs			Netting		March 31, 2012
Assets
Master Trust Assets
Money Market Funds	$	0.2		$	-	$	0.2		$	-		$	-		$	0.2
Equity Securities (a)		5.0			-		5.0			-			-			5.0
Debt Securities		5.5			-		5.5			-			-			5.5
Multi-Strategy Fund		0.3			-		0.3			-			-			0.3
Total Master Trust Assets		11.0			-		11.0			-			-			11.0
Derivative Assets
FTRs		0.1			-		0.1			-			-			0.1
Heating Oil Futures		1.6			1.6		-			-			(1.6	)		-
Forward Power Contracts		4.7			-		4.7			-			(0.7	)		4.0
Total Derivative Assets		6.4			1.6		4.8			-			(2.3	)		4.1
Total Assets	$	17.4		$	1.6	$	15.8		$	-		$	(2.3	)	$	15.1

Liabilities
Derivative Liabilities
Forward Power Contracts	$	(9.6	)	$	-	$	(9.6	)	$	-		$	4.1		$	(5.5	)
Forward NYMEX Coal Contracts		(22.3	)		-		(22.3	)		-			16.0			(6.3	)
Total Derivative Liabilities		(31.9	)		-		(31.9	)		-			20.1			(11.8	)

Long-term Debt		(930.6	)		-		(911.4	)		(19.2	)		-			(930.6	)

Total Liabilities	$	(962.5	)	$	-	$	(943.3	)	$	(19.2	)	$	20.1		$	(942.4	)


				Assets and Liabilities Measured at Fair Value on a Recurring Basis
					Level 1		Level 2			Level 3
															Fair Value on
		Fair Value at		Based on Quoted			Other				Collateral and			Balance Sheet at
		December 31,		Prices in Active		Observable				Unobservable		Counterparty			December 31,
$ in millions		2011 *		Markets			Inputs			Inputs		Netting			2011
Assets
Master Trust Assets
Money Market Funds	$	0.2		$	-	$	0.2		$	-	$	-		$	0.2
Equity Securities (a)		4.4			-		4.4			-		-			4.4
Debt Securities		5.5			-		5.5			-		-			5.5
Multi-Strategy Fund		0.2			-		0.2			-		-			0.2
Total Master Trust Assets		10.3			-		10.3			-		-			10.3
Derivative Assets
FTRs		0.1			-		0.1			-		-			0.1
Heating Oil Futures		1.8			1.8		-			-		(1.8	)		-
Forward Power Contracts		4.1			-		4.1			-		(1.0	)		3.1
Total Derivative Assets		6.0			1.8		4.2			-		(2.8	)		3.2
Total Assets	$	16.3		$	1.8	$	14.5		$	-	$	(2.8	)	$	13.5

Liabilities
Derivative Liabilities
Forward Power Contracts	$	(5.0	)	$	-	$	(5.0	)	$	-	$	1.7		$	(3.3	)
Forward NYMEX Coal Contracts		(14.5	)		-		(14.5	)		-		10.8			(3.7	)
Total Derivative Liabilities		(19.5	)		-		(19.5	)		-		12.5			(7.0	)

Total Liabilities	$	(19.5	)	$	-	$	(19.5	)	$	-	$	12.5		$	(7.0	)

- 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.

+ References+ Details