Fair Value Measurements (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2012

Dec. 31, 2011

Fair Value and Cost of Non-Derivative Instruments


	Successor
	At June 30, 2012				At December 31, 2011
$ in millions	Cost		Fair Value		Cost		Fair Value
Assets
Money Market Funds	$	0.2	$	0.2	$	0.2	$	0.2
Equity Securities		4.0		4.9		3.9		4.4
Debt Securities		5.0		5.5		5.0		5.5
Multi-Strategy Fund		0.3		0.2		0.3		0.2
Total Assets	$	9.5	$	10.8	$	9.4	$	10.3

Liabilities
Debt	$	2,619.6	$	2,744.4	$	2,629.3	$	2,710.6

Fair Value and Redemption Frequency


Fair Value Estimated Using Net Asset Value per Unit (Successor)
$ in millions	Fair Value at June 30, 2012		Fair Value at December 31, 2011		Unfunded Commitments
Money Market Fund (a)	$	0.2	$	0.2	$	-
Equity Securities (b)		4.9		4.4		-
Debt Securities (c)		5.5		5.5		-
Multi-Strategy Fund (d)		0.2		0.2		-
Total	$	10.8	$	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
$ in millions	Fair Value at June 30, 2012*			Based on Quoted Prices in Active Markets		Other Observable Inputs			Unobservable Inputs			Collateral and Counterparty Netting			Fair Value on Balance Sheet at June 30, 2012
Assets
Master Trust Assets
Money Market Funds	$	0.2		$	-	$	0.2		$	-		$	-		$	0.2
Equity Securities		4.9			-		4.9			-			-			4.9
Debt Securities		5.5			-		5.5			-			-			5.5
Multi-Strategy Fund		0.2			-		0.2			-			-			0.2
Total Master Trust Assets		10.8			-		10.8			-			-			10.8
Derivative Assets
Heating Oil Futures		0.3			0.3		-			-			(0.3	)		-
Forward Power Contracts		18.3			-		18.3			-			(3.3	)		15.0
Total Derivative Assets		18.6			0.3		18.3			-			(3.6	)		15.0

Total Assets	$	29.4		$	0.3	$	29.1		$	-		$	(3.6	)	$	25.8

Liabilities
Derivative Liabilities
Interest Rate Hedge	$	(39.5	)	$	-	$	(39.5	)	$	-		$	-		$	(39.5	)
FTRs		(0.1	)		-		-			(0.1	)		-			(0.1	)
Forward NYMEX Coal Contracts		(16.5	)		-		(16.5	)		-			11.4			(5.1	)
Forward Power Contracts		(16.0	)		-		(16.0	)		-			11.5			(4.5	)
Total Derivative Liabilities		(72.1	)		-		(72.0	)		(0.1	)		22.9			(49.2	)

Long-term Debt		(2,744.4	)		-		(2,725.2	)		(19.2	)		-			(2,744.4	)

Total Liabilities	$	(2,816.5	)	$	-	$	(2,797.2	)	$	(19.3	)	$	22.9		$	(2,793.6	)


	Assets and Liabilities Measured at Fair Value on a Recurring Basis (Successor)
				Level 1		Level 2			Level 3
$ in millions	Fair Value at December 31, 2011 *			Based on Quoted Prices in Active Markets		Other Observable Inputs			Unobservable Inputs		Collateral and Counterparty Netting			Fair Value on Balance Sheet at December 31, 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 June 30, 2012				At December 31, 2011
$ in millions	Cost		Fair Value		Cost		Fair Value

Assets
Money Market Funds	$	0.2	$	0.2	$	0.2	$	0.2
Equity Securities ^(a)		4.0		4.9		3.9		4.4
Debt Securities		5.0		5.5		5.0		5.5
Multi-Strategy Fund		0.3		0.2		0.3		0.2
	$	9.5	$	10.8	$	9.4	$	10.3

Liabilities
Debt	$	903.2	$	938.9	$	903.4	$	934.5

Fair Value and Redemption Frequency


Fair Value Estimated Using Net Asset Value per Unit
$ in millions	Fair Value at June 30, 2012		Fair Value at December 31, 2011		Unfunded Commitments		Redemption Frequency
Money Market Fund (a)	$	0.2	$	0.2	$	-	Immediate
Equity Securities (b)		4.9		4.4		-	Immediate
Debt Securities (c)		5.5		5.5		-	Immediate
Multi-Strategy Fund (d)		0.2		0.2		-	Immediate
Total	$	10.8	$	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
$ in millions	Fair Value at June 30, 2012*			Based on Quoted Prices in Active Markets		Other Observable Inputs			Unobservable Inputs			Collateral and Counterparty Netting			Fair Value on Balance Sheet at June 30, 2012
Assets
Master Trust Assets
Money Market Funds	$	0.2		$	-	$	0.2		$	-		$	-		$	0.2
Equity Securities (a)		4.9			-		4.9			-			-			4.9
Debt Securities		5.5			-		5.5			-			-			5.5
Multi-Strategy Fund		0.2			-		0.2			-			-			0.2
Total Master Trust Assets		10.8			-		10.8			-			-			10.8
Derivative Assets
Heating Oil Futures		0.3			0.3		-			-			(0.3	)		-
Forward Power Contracts		7.8			-		7.8			-			(3.4	)		4.4
Total Derivative Assets		8.1			0.3		7.8			-			(3.7	)		4.4
Total Assets	$	18.9		$	0.3	$	18.6		$	-		$	(3.7	)	$	15.2

Liabilities
Derivative Liabilities
FTRs	$	(0.1	)	$	-	$	-		$	(0.1	)	$	-		$	(0.1	)
Forward Power Contracts		(12.0	)		-		(11.9	)		-			7.2			(4.8	)
Forward NYMEX Coal Contracts		(16.5	)		-		(16.5	)		-			11.4			(5.1	)
Total Derivative Liabilities		(28.6	)		-		(28.4	)		(0.1	)		18.6			(10.0	)

Long-term Debt		(938.9	)		-		(919.7	)		(19.2	)		-			(938.9	)

Total Liabilities	$	(967.5	)	$	-	$	(948.1	)	$	(19.3	)	$	18.6		$	(948.9	)


	Assets and Liabilities Measured at Fair Value on a Recurring Basis
				Level 1		Level 2			Level 3
$ in millions	Fair Value at December 31, 2011 *			Based on Quoted Prices in Active Markets		Other Observable Inputs			Unobservable Inputs		Collateral and Counterparty Netting			Fair Value on Balance Sheet at December 31, 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