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Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Dec. 31, 2011

Schedule of Notional Amounts of Outstanding Derivative Positions


						Net Purchases/
	Accounting		Purchases	Sales		(Sales)
Commodity	Treatment	Unit	(in thousands)	(in thousands)		(in thousands)
FTRs	Mark to Market	MWh	2.8	-		2.8
Heating Oil Futures	Mark to Market	Gallons	1,680.0	-		1,680.0
Forward Power Contracts	Cash Flow Hedge	MWh	881.1	(107.2	)	773.9
Forward Power Contracts	Mark to Market	MWh	1,195.4	(1,213.5	)	(18.1	)
NYMEX-quality Coal Contracts*	Mark to Market	Tons	1,410.5	-		1,410.5
Interest Rate Swaps	Cash Flow Hedge	USD	$160,000.0	$-		$160,000.0


						Net Purchases/
	Accounting		Purchases	Sales		(Sales)
Commodity	Treatment	Unit	(in thousands)	(in thousands)		(in thousands)
FTRs	Mark to Market	MWh	7.1	(0.7	)	6.4
Heating Oil Futures	Mark to Market	Gallons	2,772.0	-		2,772.0
Forward Power Contracts	Cash Flow Hedge	MWh	886.2	(341.6	)	544.6
Forward Power Contracts	Mark to Market	MWh	1,769.4	(1,739.5	)	29.9
NYMEX-quality Coal Contracts*	Mark to Market	Tons	2,015.0	-		2,015.0
Interest Rate Swaps	Cash Flow Hedge	USD	$160,000.0	$-		$160,000.0

Gains or Losses Recognized in AOCI for the Cash Flow Hedges


		March 31,						March 31,
		2012						2011
		Successor						Predecessor
				Interest						Interest
$ in millions (net of tax)		Power		Rate Hedge				Power		Rate Hedge

Beginning accumulated derivative
gain / (loss) in AOCI	$	0.3		$	(0.8	)	$	(1.8	)	$	21.4

Net gains / (losses) associated with current
period hedging transactions		(1.5	)		9.1			0.5			1.6

Net gains reclassified to earnings
Interest expense		-			0.2			-			(0.6	)
Revenues		(1.2	)		-			(0.1	)		-
Purchased power		0.1			-			(0.2	)		-

Ending accumulated derivative
gain / (loss) in AOCI	$	(2.3	)	$	8.5		$	(1.6	)	$	22.4

Net gains / (losses) associated with the
ineffective portion of the hedging transaction
Interest expense		-			(1.6	)		-			-
Revenues		-			-			-			-
Purchased power		-			-

Portion expected to be reclassified to
earnings in the next twelve months*	$	(0.3	)	$	-

Maximum length of time that we are hedging
our exposure to variability in future cash flows
related to forecasted transactions (in months)		33			18

Schedule of Derivative Assets and Liabilities at Fair Value


									Fair Value on
$ in millions		Fair Value¹			Netting²		Balance Sheet Location		Balance Sheet
Short-term Derivative Positions
FTRs in an Asset position	$	0.1		$	-		Other prepayments and current assets	$	0.1
Forward Power Contracts in an Asset position		9.9			-		Other prepayments and current assets		9.9
Forward Power Contracts in a Liability position		(6.5	)		2.6		Other current liabilities		(3.9	)
NYMEX Quality Coal Forwards in a Liability position		(8.3	)		4.6		Other current liabilities		(3.7	)
Heating Oil Futures in an Asset position		1.8			(1.8	)	Other prepayments and current assets		-
Total short-term derivative MTM positions		(3.0	)		5.4				2.4

Long-term Derivative Positions
Forward Power Contracts in an Asset position		5.8			-		Other deferred assets		5.8
Forward Power Contracts in a Liability position		(4.0	)		1.3		Other deferred credits		(2.7	)
NYMEX Quality Coal Forwards in a Liability position		(6.2	)		6.2		Other deferred credits		-
Total long-term derivative MTM positions		(4.4	)		7.5				3.1

Total MTM Position	$	(7.4	)	$	12.9			$	5.5

DP&L [Member]

Schedule of Notional Amounts of Outstanding Derivative Positions


						Net Purchases/
	Accounting		Purchases	Sales		(Sales)
Commodity	Treatment	Unit	(in thousands)	(in thousands)		(in thousands)
FTRs	Mark to Market	MWh	2.8	-		2.8
Heating Oil Futures	Mark to Market	Gallons	1,680.0	-		1,680.0
Forward Power Contracts	Cash Flow Hedge	MWh	881.0	(107.2	)	773.8
Forward Power Contracts	Mark to Market	MWh	618.7	(618.7	)	-
NYMEX-quality Coal Contracts*	Mark to Market	Tons	1,410.5	-		1,410.5


						Net Purchases/
	Accounting		Purchases	Sales		(Sales)
Commodity	Treatment	Unit	(in thousands)	(in thousands)		(in thousands)
FTRs	Mark to Market	MWh	7.1	(0.7	)	6.4
Heating Oil Futures	Mark to Market	Gallons	2,772.0	-		2,772.0
Forward Power Contracts	Cash Flow Hedge	MWh	886.2	(341.6	)	544.6
Forward Power Contracts	Mark to Market	MWh	525.1	(525.1	)	-
NYMEX-quality Coal Contracts*	Mark to Market	Tons	2,015.0	-		2,015.0

Gains or Losses Recognized in AOCI for the Cash Flow Hedges


		March 31,						March 31,
		2012						2011
					Interest						Interest
$ in millions (net of tax)		Power		Rate Hedge				Power		Rate Hedge

Beginning accumulated
derivative gain / (loss) in AOCI	$	(0.8	)	$	9.8		$	(1.8	)	$	12.2

Net gains / (losses) associated with current period
hedging transactions		(1.5	)		-			0.5			-

Net (gains) / losses reclassified to earnings
Interest Expense		-			(0.6	)		-			(0.6	)
Revenues		(1.2	)		-			(0.1	)		-
Purchased Power		0.1			-			(0.2	)		-
Ending accumulated
derivative gain / (loss) in AOCI	$	(3.4	)	$	9.2		$	(1.6	)	$	11.6


Net gains / (losses) associated with the
ineffective portion of the hedging transaction:
Interest expense	$	-		$	-		$	-		$	-
Revenues	$	-		$	-		$	-		$	-

Portion expected to be reclassified to earnings in the
next twelve months*	$	(0.5	)	$	(2.4	)

Maximum length of time that we are hedging our
exposure to variability in future cash flows related to
forecasted transactions (in months)		33			-

Schedule of Gains and Losses on Derivatives Not Designated as Hedging Instruments


		NYMEX			Heating
$ in millions		Coal			Oil			FTRs			Power			Total
Change in unrealized gain / (loss)	$	(7.8	)	$	(0.1	)	$	(0.1	)	$	-		$	(8.0	)
Realized gain / (loss)		(5.0	)		0.9			(0.2	)		-			(4.3	)
Total	$	(12.8	)	$	0.8		$	(0.3	)	$	-		$	(12.3	)
Recorded on Balance Sheet:
Partners' share of gain / (loss)	$	(3.5	)	$	-		$	-		$	-		$	(3.5	)
Regulatory (asset) / liability		(1.1	)		0.1			-			-			(1.0	)

Recorded in Income Statement: gain / (loss)
Purchased power		-			-			(0.3	)		(1.6	)		(1.9	)
Revenue		-			-			-			1.6			1.6
Fuel		(8.2	)		0.6			-			-			(7.6	)
O&M		-			0.1			-			-			0.1
Total	$	(12.8	)	$	0.8		$	(0.3	)	$	-		$	(12.3	)


		NYMEX			Heating
$ in millions		Coal			Oil		FTRs			Power			Total
Change in unrealized gain / (loss)	$	(3.5	)	$	3.0	$	(0.1	)	$	(0.1	)	$	(0.7	)
Realized gain / (loss)		2.4			0.4		(0.8	)		(0.3	)		1.7
Total	$	(1.1	)	$	3.4	$	(0.9	)	$	(0.4	)	$	1.0
Recorded on Balance Sheet:
Partners' share of gain / (loss)	$	(2.4	)	$	-	$	-		$	-		$	(2.4	)
Regulatory (asset) / liability		0.3			1.6		-			-			1.9

Recorded in Income Statement: gain / (loss)
Purchased power		-			-		(0.9	)		(0.4	)		(1.3	)
Revenue		-			-		-			-			-
Fuel		1.0			1.7		-			-			2.7
O&M		-			0.1		-			-			0.1
Total	$	(1.1	)	$	3.4	$	(0.9	)	$	(0.4	)	$	1.0

Not Designated as Hedging Instrument [Member]

Schedule of Derivative Assets and Liabilities at Fair Value


									Fair Value on
$ in millions		Fair Value¹			Netting²		Balance Sheet Location		Balance Sheet
Short-term Derivative Positions
FTRs in an Asset position	$	0.1		$	-		Other prepayments and current assets	$	0.1
Forward Power Contracts in an Asset position		13.3			-		Other prepayments and current assets		13.3
Forward Power Contracts in a Liability position		(7.7	)		5.7		Other current liabilities		(2.0	)
NYMEX Quality Coal Forwards in an Asset position		(16.7	)		10.3		Other prepayments and current assets		(6.4	)
Heating Oil Futures in an Asset position		1.6			(1.6	)	Other prepayments and current assets		-
Total short-term derivative MTM positions		(9.4	)		14.4				5.0

Long-term Derivative Positions
Forward Power Contracts in an Asset position		4.0			-		Other deferred assets		4.0
Forward Power Contracts in a Liability position		(2.3	)		1.0		Other deferred credits		(1.3	)
NYMEX Quality Coal Forwards in an Asset position		(5.6	)		5.6		Other deferred assets		-
Total long-term derivative MTM positions		(3.9	)		6.6				2.7

Total MTM Position	$	(13.3	)	$	21.0			$	7.7

Schedule of Gains and Losses on Derivatives Not Designated as Hedging Instruments


		NYMEX			Heating
$ in millions		Coal			Oil			FTRs			Power			Total
Change in unrealized gain / (loss)	$	(7.8	)	$	(0.1	)	$	(0.1	)	$	1.4		$	(6.6	)
Realized gain / (loss)		(5.0	)		0.9			(0.2	)		(2.3	)		(6.6	)
Total	$	(12.8	)	$	0.8		$	(0.3	)	$	(0.9	)	$	(13.2	)
Recorded on Balance Sheet:
Partners' share of gain / (loss)	$	(3.5	)	$	-		$	-		$	-		$	(3.5	)
Regulatory (asset) / liability		(1.1	)		0.1			-			-			(1.0	)

Recorded in Income Statement: gain / (loss)
Revenue		-			-			-			3.4			3.4
Purchased power		-			-			(0.3	)		(4.3	)		(4.6	)
Fuel		(8.2	)		0.6			-			-			(7.6	)
O&M		-			0.1			-			-			0.1
Total	$	(12.8	)	$	0.8		$	(0.3	)	$	(0.9	)	$	(13.2	)


		NYMEX			Heating
$ in millions		Coal			Oil		FTRs			Power			Total
Change in unrealized gain / (loss)	$	(3.5	)	$	3.0	$	(0.1	)	$	0.6		$	-
Realized gain / (loss)		2.4			0.4		(0.8	)		(0.8	)		1.2
Total	$	(1.1	)	$	3.4	$	(0.9	)	$	(0.2	)	$	1.2
Recorded on Balance Sheet:
Partners' share of gain / (loss)	$	(2.4	)	$	-	$	-		$	-		$	(2.4	)
Regulatory (asset) / liability		0.3			1.6		-			-			1.9

Recorded in Income Statement: gain / (loss)
Revenue		-			-		-			(1.6	)		(1.6	)
Purchased power		-			-		(0.9	)		1.4			0.5
Fuel		1.0			1.7		-						2.7
O&M		-			0.1		-						0.1
Total	$	(1.1	)	$	3.4	$	(0.9	)	$	(0.2	)	$	1.2

Not Designated as Hedging Instrument [Member] | DP&L [Member]

Schedule of Derivative Assets and Liabilities at Fair Value


									Fair Value on
$ in millions		Fair Value¹			Netting²		Balance Sheet Location		Balance Sheet
Short-term Derivative Positions
FTRs in an Asset position	$	0.1		$	-		Other prepayments and current assets	$	0.1
Forward Power Contracts in an Asset position		2.3			-		Other prepayments and current assets		2.3
Forward Power Contracts in a Liability position		(2.2	)		-		Other current liabilities		(2.2	)
NYMEX-Quality Coal Forwards in a Liability position		(16.7	)		10.3		Other current liabilities		(6.4	)
Heating Oil Futures in an Asset position		1.6			(1.6	)	Other prepayments and current assets		-
Total short-term derivative MTM positions		(14.9	)		8.7				(6.2	)

Long-term Derivative Positions
Forward Power Contracts in an Asset position		1.4			-		Other deferred assets		1.4
Forward Power Contracts in a Liability position		(1.3	)		-		Other deferred credits		(1.3	)
NYMEX-Quality Coal Forwards in a Liability position		(5.6	)		5.6		Other deferred credits		-
Total long-term derivative MTM positions		(5.5	)		5.6				0.1

Total MTM Position	$	(20.4	)	$	14.3			$	(6.1	)


								Fair Value on
$ in millions		Fair Value¹			Netting²		Balance Sheet Location	Balance Sheet
Short-term Derivative Positions
FTRs in an Asset position	$	0.1		$	-		Other prepayments and current assets	$	0.1
Forward Power Contracts in an Asset position		1.0			-		Other prepayments and current assets		1.0
Forward Power Contracts in a Liability position		(0.9	)		-		Other current liabilities		(0.9	)
NYMEX-Quality Coal Forwards in a Liability position		(8.3	)		4.6		Other current liabilities		(3.7	)
Heating Oil Futures in an Asset position		1.8			(1.8	)	Other prepayments and current assets		-
Total short-term derivative MTM positions		(6.3	)		2.8				(3.5	)

Long-term Derivative Positions
Forward Power Contracts in an Asset position		1.5			-		Other deferred assets		1.5
Forward Power Contracts in a Liability position		(1.3	)		-		Other deferred credits		(1.3	)
NYMEX-Quality Coal Forwards in a Liability position		(6.2	)		6.2		Other deferred credits		-
Total long-term derivative MTM positions		(6.0	)		6.2				0.2

Total MTM Position	$	(12.3	)	$	9.0			$	(3.3	)

Cash Flow Hedge [Member]

Schedule of Derivative Assets and Liabilities at Fair Value


									Fair Value on
$ in millions		Fair Value¹			Netting ²		Balance Sheet Location		Balance Sheet
Short-term Derivative Positions
Forward Power Contracts in an Asset Position	$	1.0		$	(0.6	)	Other current assets	$	0.4
Forward Power Contracts in a Liability Position		(1.5	)		1.1		Other current liabilities		(0.4	)
Total short-term cash flow hedges		(0.5	)		0.5				-
Long-term Derivative Positions
Forward Power Contracts in a Liability Position		(4.7	)		3.0		Other deferred credits		(1.7	)
Interest Rate Hedges in a Liability Position		(16.8	)		-		Other deferred credits		(16.8	)
Total long-term cash flow hedges		(21.5	)		3.0				(18.5	)
Total cash flow hedges	$	(22.0	)	$	3.5			$	(18.5	)
¹Includes credit valuation adjustment.
²Includes counterparty and collateral netting.


									Fair Value on
$ in millions		Fair Value¹			Netting ²		Balance Sheet Location		Balance Sheet
Short-term Derivative Positions
Forward Power Contracts in an Asset Position	$	1.5		$	(0.9	)	Other current assets	$	0.6
Forward Power Contracts in a Liability Position		(0.2	)		-		Other current liabilities		(0.2	)
Total short-term cash flow hedges		1.3			(0.9	)			0.4
Long-term Derivative Positions
Forward Power Contracts in an Asset Position		0.1			(0.1	)	Other deferred assets		-
Forward Power Contracts in a Liability Position		(2.6	)		1.7		Other deferred credits		(0.9	)
Interest Rate Hedges in a Liability Position		(32.5	)		-		Other deferred credits		(32.5	)
Total long-term cash flow hedges		(35.0	)		1.6				(33.4	)
Total cash flow hedges	$	(33.7	)	$	0.7			$	(33.0	)

Cash Flow Hedge [Member] | DP&L [Member]

Schedule of Derivative Assets and Liabilities at Fair Value


									Fair Value on
$ in millions		Fair Value¹			Netting²		Balance Sheet Location		Balance Sheet
Short-term Derivative Positions
							Other prepayments and
Forward Power Contracts in an Asset Position	$	1.0		$	(0.6	)	current assets	$	0.4
Forward Power Contracts in a Liability Position		(1.5	)		1.1		Other current liabilities		(0.4	)
Total short-term cash flow hedges		(0.5	)		0.5				-
Long-term Derivative Positions
Forward Power Contracts in a Liability Position		(4.7	)		3.0		Other deferred credits		(1.7	)
Total long-term cash flow hedges		(4.7	)		3.0				(1.7	)
Total cash flow hedges	$	(5.2	)	$	3.5			$	(1.7	)
¹Includes credit valuation adjustment.
²Includes counterparty and collateral netting.


									Fair Value on
$ in millions		Fair Value¹			Netting²		Balance Sheet Location		Balance Sheet
Short-term Derivative Positions
Forward Power Contracts in an Asset Position	$	1.5		$	(0.9	)	Other deferred assets	$	0.6
Forward Power Contracts in a Liability Position		(0.2	)		-		Other current liabilities		(0.2	)
Total short-term cash flow hedges		1.3			(0.9	)			0.4
Long-term Derivative Positions
Forward Power Contracts in an Asset Position		0.1			(0.1	)	Other deferred assets		-
Forward Power Contracts in a Liability Position		(2.6	)		1.7		Other deferred credits		(0.9	)
Total long-term cash flow hedges		(2.5	)		1.6				(0.9	)
Total cash flow hedges	$	(1.2	)	$	0.7			$	(0.5	)