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Fair Value Of Financial Assets And Liabilities

9 Months Ended

Sep. 30, 2012

Fair Value Of Financial Assets And Liabilities

9. Fair Value of Financial Assets and Liabilities

Under existing accounting guidance, fair value is considered to be the exchange price in an orderly transaction between market participants to sell an asset or transfer a liability at the measurement date. The fair value definition focuses on an exit price, which is the price that would be received to sell an asset or paid to transfer a liability versus an entry price, which would be the price paid to acquire an asset or received to assume a liability.

The Duke Energy Registrants classify recurring and non-recurring fair value measurements based on the following fair value hierarchy, as prescribed by the accounting guidance for fair value, which prioritizes the inputs to valuation techniques used to measure fair value into three levels:

Level 1—unadjusted quoted prices in active markets for identical assets or liabilities that Duke Energy has the ability to access. An active market for the asset or liability is one in which transactions for the asset or liability occurs with sufficient frequency and volume to provide ongoing pricing information. Duke Energy does not adjust quoted market prices on Level 1 for any blockage factor.

Level 2—a fair value measurement utilizing inputs other than a quoted market price that are observable, either directly or indirectly, for the asset or liability. Level 2 inputs include, but are not limited to, quoted prices for similar assets or liabilities in an active market, quoted prices for identical or similar assets or liabilities in markets that are not active and inputs other than quoted market prices that are observable for the asset or liability, such as interest rate curves and yield curves observable at commonly quoted intervals, volatilities, credit risk and default rates. A Level 2 measurement cannot have more than an insignificant portion of the valuation based on unobservable inputs.

Level 3—any fair value measurements which include unobservable inputs for the asset or liability for more than an insignificant portion of the valuation. A level 3 measurement may be based primarily on Level 2 inputs.

The fair value accounting guidance for financial instruments permits entities to elect to measure many financial instruments and certain other items at fair value that are not required to be accounted for at fair value under other GAAP. There are no financial assets or financial liabilities that are not required to be accounted for at fair value under GAAP for which the option to record at fair value has been elected by the Duke Energy Registrants. However, in the future, the Duke Energy Registrants may elect to measure certain financial instruments at fair value in accordance with this accounting guidance.

Transfers into (out of) Levels 1, 2 or 3 represent existing assets or liabilities previously categorized as a higher level for which the inputs to the estimate became less observable or assets and liabilities that were previously classified as Level 2 or 3 for which the lowest significant input became more observable during the period. The Duke Energy Registrant's Policy for the recognition of transfers between levels of the fair value hierarchy is to recognize the transfer at the end of the period. There were no transfers into (out of) Levels 1, 2 and 3 during the period.

Valuation methods of the primary fair value measurements disclosed below are as follows:

Investments in equity securities. Investments in equity securities, other than those accounted for as equity and cost method investments, are typically valued at the closing price in the principal active market as of the last business day of the quarter. Principal active markets for equity prices include published exchanges such as NASDAQ and NYSE. Foreign equity prices are translated from their trading currency using the currency exchange rate in effect at the close of the principal active market. Prices have not been adjusted to reflect for after-hours market activity. The majority of investments in equity securities are valued using Level 1 measurements. For certain investments that are valued on a net asset value per share (or its equivalent), or the net asset value basis, when Duke Energy does not have the ability to redeem the investment in the near term at net asset value per share (or its equivalent), or the net asset value is not available as of the measurement date, the fair value measurement of the investment is categorized as Level 3.

Investments in available-for-sale auction rate securities. Duke Energy holds auction rate securities for which an active market does not currently exist. During the nine months ended September 30, 2012, $39 million of these investments in auction rate securities were redeemed at full par value plus accrued interest. Auction rate securities held are student loan securities for which approximately 90% is ultimately backed by the U.S. government. Approximately 18% of these securities are AAA rated. As of September 30, 2012 and December 31, 2011 all of these auction rate securities are classified as long-term investments and are valued as Level 3 measurements. The methods and significant assumptions used to determine the fair values of the investment in auction rate debt securities represent estimations of fair value using internal discounted cash flow models which incorporate primarily management's own assumptions as to the term over which such investments will be recovered at par (ranging from 7 to 17 years), the current level of interest rates (less than 0.5%), and the appropriate risk-adjusted discount rates (up to 5.0% reflecting a tenor of up to 17 years). In preparing the valuations, all significant value drivers were considered, including the underlying collateral (primarily evaluated on the basis of credit ratings, parity ratios and the percentage of loans backed by the U.S. government). Auction rate securities which are classified as Short-term investments are valued using Level 2 measurements, as they are valued at par based on a commitment by the issuer to redeem at par value. There were no auction rate securities classified as Short-term investments as of September 30, 2012 or December 31, 2011.

There were no other-than-temporary impairments associated with investments in auction rate debt securities during the three months ended and nine months ended September 30, 2012 or 2011.

Investments in debt securities. Most debt investments (including those held in the Nuclear Decommissioning Trust Funds (NDTF)) are valued based on a calculation using interest rate curves and credit spreads applied to the terms of the debt instrument (maturity and coupon interest rate) and consider the counterparty credit rating. Most debt valuations are Level 2 measurements. If the market for a particular fixed income security is relatively inactive or illiquid, the measurement is a Level 3 measurement. U.S. Treasury debt is typically a Level 1 measurement.

Commodity derivatives. The pricing for commodity derivatives is primarily a calculated value which incorporates the forward price and is adjusted for liquidity (bid-ask spread), credit or non-performance risk (after reflecting credit enhancements such as collateral) and discounted to present value. The primary difference between a Level 2 and a Level 3 measurement has to do with the level of activity in forward markets for the commodity. If the market is relatively inactive, the measurement is deemed to be a Level 3 measurement. Commodity derivatives with clearinghouses are classified as Level 1 measurements.

Duke Energy

	The following tables provide the fair value measurement amounts for financial assets and liabilities recorded at fair value on Duke Energy's Condensed
Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral amounts which are disclosed in Note ##RMDIHA. See Note ##INV for additional information related to investments by major security type.

		Total Fair Value Amounts at
(in millions)		September 30, 2012		Level 1		Level 2		Level 3
Investments in available-for-sale auction rate securities^(a)		$	41	$	―	$	―	$	41
Nuclear decommissioning trust fund equity securities			2,779		2,707		53		19
Nuclear decommissioning trust fund debt securities			1,376		234		1,095		47
Other long-term trading and available-for-sale equity securities^(b)			77		68		9		―
Other trading and available-for-sale debt securities^(c)			650		66		584		―
Derivative assets^(b)			89		―		10		79
	Total Assets		5,012		3,075		1,751		186
Derivative liabilities^(d)			(776)		(24)		(598)		(154)
	Net Assets	$	4,236	$	3,051	$	1,153	$	32

		Total Fair Value Amounts at
(in millions)		December 31, 2011		Level 1		Level 2		Level 3
Investments in available-for-sale auction rate securities^(a)		$	71	$	―	$	―	$	71
Nuclear decommissioning trust fund equity securities			1,337		1,285		46		6
Nuclear decommissioning trust fund debt securities			723		109		567		47
Other long-term trading and available-for-sale equity securities^(b)			68		61		7		―
Other trading and available-for-sale debt securities^(c)			382		22		360		―
Derivative assets^(b)			74		43		6		25
	Total Assets		2,655		1,520		986		149
Derivative liabilities^(d)			(264)		(36)		(164)		(64)
	Net Assets	$	2,391	$	1,484	$	822	$	85

(a)	Included in Other within Investments and Other Assets on the Condensed Consolidated Balance Sheets.
(b)	Included in Other within Current Assets and Other within Investments and Other Assets on the Condensed Consolidated Balance Sheet.
(c)	Included in Other within Investments and Other Assets and Short-term Investments on the Condensed Consolidated Balance Sheets.
(d)	Included in Other within Current Liabilities and Other within Deferred Credits and Other Liabilities on the Condensed Consolidated Balance Sheets.

	The following tables provide a reconciliation of beginning and ending balances of assets and liabilities measured at fair value on a
recurring basis where the determination of fair value includes significant unobservable inputs (Level 3):

(in millions)			Available-for-Sale Auction Rate Securities		Available-for-Sale NDTF Investments		Derivatives (net)		Total
Three Months Ended September 30, 2012
Balance at June 30, 2012			$	41	$	64	$	(19)	$	86
Amounts acquired in Progress Energy Merger				―		―		(30)		(30)
	Total pre-tax realized or unrealized losses included in earnings:
		Regulated electric		―		―		12		12
		Revenue, non-regulated electric, natural gas, and other		―		―		(6)		(6)
	Purchases, sales, issuances and settlements:
		Purchases		―		1		―		1
		Issuances		―		―		(24)		(24)
		Settlements		―		―		(10)		(10)
	Total gains included on the Condensed Consolidated Balance Sheet as regulatory asset or liability			―		1		2		3
Balance at September 30, 2012			$	41	$	66	$	(75)	$	32
Three Months Ended September 30, 2011
Balance at June 30, 2011			$	90	$	53	$	(22)	$	121
	Total pre-tax realized or unrealized gains (losses) included in earnings:
		Revenue, non-regulated electric, natural gas, and other		―		―		8		8
	Total pre-tax losses included in other comprehensive income:
		Gains on available for sale securities and other		8		―		―		8
	Purchases, sales, issuances and settlements:
		Purchases		―		―		8		8
		Settlements		(1)		―		(2)		(3)
	Total gains (losses) included on the Condensed Consolidated Balance Sheet as regulatory asset or liability			―		1		(16)		(15)
	Transfers out of Level 3			(25)		―		―		(25)
Balance at September 30, 2011			$	72	$	54	$	(24)	$	102

(in millions)			Available-for-Sale Auction Rate Securities		Available-for-Sale NDTF Investments		Derivatives (net)		Total
Nine Months Ended September 30, 2012
Balance at December 31, 2011			$	71	$	53	$	(39)	$	85
Amounts acquired in Progress Energy Merger				―		―		(30)		(30)
	Total pre-tax realized or unrealized losses included in earnings:
		Regulated electric		―		―		37		37
		Revenue, non-regulated electric, natural gas, and other		―		―		(9)		(9)
	Total pre-tax gains included in other comprehensive income:
		Gains on available for sale securities and other		9		―		―		9
	Purchases, sales, issuances and settlements:
		Purchases		―		10		22		32
		Issuances		―		―		(24)		(24)
		Settlements		(39)		―		(34)		(73)
	Total gains included on the Condensed Consolidated Balance Sheet as regulatory asset or liability			―		3		2		5
Balance at September 30, 2012			$	41	$	66	$	(75)	$	32
Pre-tax amounts included in the Condensed Consolidated Statements of Comprehensive Income related to Level 3 measurements outstanding at September 30, 2012
		Revenue, non-regulated electric, natural gas, and other		―		―		5		5
Total			$	―	$	―	$	5	$	5
Nine Months Ended September 30, 2011
Balance at December 31, 2010			$	118	$	47	$	(19)	$	146
	Total pre-tax realized or unrealized gains (losses) included in earnings:
		Regulated electric		―		―		8		8
		Revenue, non-regulated electric, natural gas, and other		―		―		(19)		(19)
	Total pre-tax gains included in other comprehensive income:
		Gains on available for sale securities and other		13		―		―		13
	Purchases, sales, issuances and settlements:
		Purchases		―		7		8		15
		Sales		―		(3)		―		(3)
		Settlements		(25)		―		(5)		(30)
	Total gains included on the Condensed Consolidated Balance Sheet as regulatory asset or liability			―		3		3		6
	Transfers out of Level 3			(34)		―		―		(34)
Balance at September 30, 2011			$	72	$	54	$	(24)	$	102
Pre-tax amounts included in the Condensed Consolidated Statements of Comprehensive Income related to Level 3 measurements outstanding at September 30, 2011
		Revenue, non-regulated electric, natural gas, and other		―		―		(12)		(12)
Total			$	―	$	―	$	(12)	$	(12)

Duke Energy Carolinas

	The following tables provide the fair value measurement amounts for assets and liabilities recorded on Duke Energy Carolinas’
Condensed Consolidated Balance Sheets at fair value. Derivative amounts in the table below exclude cash collateral amounts which are disclosed in Note ##RMDIHA. See Note ##INV for additional information related to investments by major security type.

			Total Fair Value Amounts at
(in millions)			September 30, 2012	Level 1		Level 2		Level 3
Investments in available-for-sale auction rate securities^(a)		$	6	$	―	$	―	$	6
Nuclear decommissioning trust fund equity securities			1,553		1,487		47		19
Nuclear decommissioning trust fund debt securities			758		102		609		47
	Total Assets	$	2,317	$	1,589	$	656	$	72
Derivative liabilities^(c)			(12)		―		―		(12)
	Net Assets	$	2,305	$	1,589	$	656	$	60

		Total Fair Value Amounts at
(in millions)		December 31, 2011		Level 1		Level 2		Level 3
Investments in available-for-sale auction rate securities^(a)		$	12	$	―	$	―	$	12
Nuclear decommissioning trust fund equity securities			1,337		1,285		46		6
Nuclear decommissioning trust fund debt securities			723		109		567		47
Derivative assets^(b)			1		―		1		―
	Total Assets	$	2,073	$	1,394	$	614	$	65

(a)	Included in Other within Investments and Other Assets on the Condensed Consolidated Balance Sheets.
(b)	Included in Other within Current Assets and Other within Investments and Other Assets on the Condensed Consolidated Balance Sheets.

	The following tables provide a reconciliation of beginning and ending balances of assets and liabilities measured at fair value
on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3):

(in millions)			Available-for-Sale Auction Rate Securities		Available-for-Sale NDTF Investments		Derivatives (net)		Total
Three Months Ended September 30, 2012
Balance at June 30, 2012			$	6	$	64	$	―	$	70
	Purchases, sales, issuances and settlements:
		Purchases		―		1		―		1
		Issuances		―		―		(14)		(14)
		Settlements		―		―		2		2
	Total gains included on the Condensed Consolidated Balance Sheet as regulatory asset or liability			―		1		―		1
Balance at September 30, 2012				6	$	66	$	(12)	$	60
Three Months Ended September 30, 2011
Balance at June 30, 2011			$	12	$	53	$	―	$	65
	Total gains included on the Condensed Consolidated Balance Sheet as regulatory asset or liability			―		1		―		1
Balance at September 30, 2011			$	12	$	54	$	―	$	66

			Available-for-Sale Auction Rate Securities		Available-for-Sale NDTF Investments		Derivatives (net)		Total
Nine Months Ended September 30, 2012
Balance at December 31, 2011			$	12	$	53	$	―	$	65
	Total pre-tax gains included in other comprehensive income:
		Gains on available for sale securities and other		2		―		―		2
	Purchases, sales, issuances and settlements:
		Purchases		―		10		―		10
		Issuances		―		―		(14)		(14)
		Settlements		(8)		―		2		(6)
	Total gains included on the Condensed Consolidated Balance Sheet as regulatory asset or liability			―		3		―		3
Balance at September 30, 2012			$	6	$	66	$	(12)	$	60
Nine Months Ended September 30, 2011
Balance at December 31, 2010			$	12	$	47	$	―	$	59
	Purchases, sales, issuances and settlements:
		Purchases		―		7		―		7
		Sales		―		(3)		―		(3)
	Total gains included on the Condensed Consolidated Balance Sheet as regulatory asset or liability			―		3		―		3
Balance at September 30, 2011			$	12	$	54	$	―	$	66

Duke Energy Ohio

	The following tables provide the fair value measurement amounts for assets and liabilities recorded on Duke Energy Ohio’s
Condensed Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral amounts which are disclosed in Note ##RMDIHA.

		Total Fair Value Amounts at
(in millions)		September 30, 2012		Level 1		Level 2		Level 3
Derivative assets^(a)		$	40	$	27	$	4	$	9
Derivative liabilities^(b)			(46)		(20)		(9)		(17)
	Net Assets (Liabilities)	$	(6)	$	7	$	(5)	$	(8)

		Total Fair Value Amounts at
(in millions)		December 31, 2011		Level 1		Level 2		Level 3
Derivative assets^(a)		$	56	$	42	$	5	$	9
Derivative liabilities^(b)			(30)		(10)		(8)		(12)
	Net Assets (Liabilities)	$	26	$	32	$	(3)	$	(3)

(a)	Included in Other within Current Assets and Other within Investments and Other Assets on the Condensed Consolidated Balance Sheets.
(b)	Included in Other within Current Liabilities and Other within Deferred Credits and Other Liabilities on the Condensed Consolidated Balance Sheets.

	The following tables provide a reconciliation of beginning and ending balances of assets and liabilities measured at fair value on a
recurring basis where the determination of fair value includes significant unobservable inputs (Level 3):

(in millions)			Derivatives (net)
Three Months Ended September 30, 2012
Balance at June 30, 2012			$	(2)
	Total pre-tax realized or unrealized gains (losses) included in earnings:
		Regulated electric		1
		Revenue, non-regulated electric, natural gas, and other		(6)
	Purchases, sales, issuances and settlements:
		Settlements		(1)
Balance at September 30, 2012			$	(8)
Three Months Ended September 30, 2011
Balance at June 30, 2011			$	7
	Total pre-tax realized or unrealized gains (losses) included in earnings:
		Revenue, non-regulated electric, natural gas, and other		(1)
	Purchases, sales, issuances and settlements:
		Settlements		(1)
	Total gains included on the Condensed Consolidated Balance Sheet as regulatory asset or liability			2
Balance at September 30, 2011			$	7

(in millions)			Derivatives (net)
Nine Months Ended September 30, 2012
Balance at December 31, 2011			$	(3)
	Total pre-tax realized or unrealized gains (losses) included in earnings:
		Regulated Electric		1
		Revenue, non-regulated electric, natural gas, and other		(5)
	Purchases, sales, issuances and settlements:
		Settlements		1
	Total gains included on the Condensed Consolidated Balance Sheet as regulatory asset or liability			(2)
Balance at September 30, 2012			$	(8)
Pre-tax amounts included in the Condensed Consolidated Statements of Comprehensive Income related to Level 3 measurements outstanding at September 30, 2012:
		Revenue, non-regulated electric and other	$	1
Total			$	1
Nine Months Ended September 30, 2011
Balance at December 31, 2010			$	13
	Total pre-tax realized or unrealized gains (losses) included in earnings:
		Revenue, non-regulated electric, natural gas, and other		(7)
	Purchases, sales, issuances and settlements:
		Settlements		(2)
	Total gains included on the Condensed Consolidated Balance Sheet as regulatory asset or liability			3
Balance at September 30, 2011			$	7
Pre-tax amounts included in the Condensed Consolidated Statements of Comprehensive Income related to Level 3 measurements outstanding at September 30, 2011:
		Revenue, non-regulated electric and other	$	1
Total			$	1

Duke Energy Indiana

The following tables provide the fair value measurement amounts for assets and liabilities recorded on Duke Energy Indiana’s
Condensed Consolidated Balance Sheets. Derivative amounts in the table below exclude cash collateral amounts which are disclosed in Note ##RMDIHA. See Note ##INV for additional information related to investments by major security type.

		Total Fair Value Amounts at
(in millions)		September 30, 2012		Level 1		Level 2		Level 3
Available-for-sale equity securities^(a)		$	49	$	49	$	―	$	―
Available-for-sale debt securities^(a)			28		―		28		―
Derivative assets^(b)			17		―		―		17
	Total Assets		94		49		28	$	17
Derivative liabilities^(c)			(71)		―		(71)		―
	Net Assets (Liabilities)	$	23	$	49	$	(43)	$	17

		Total Fair Value Amounts at
(in millions)		December 31, 2011		Level 1		Level 2		Level 3
Available-for-sale equity securities^(a)		$	46	$	46	$	―	$	―
Available-for-sale debt securities^(a)			28		―		28		―
Derivative assets^(b)			4		―		―		4
	Total Assets		78		46		28	$	4
Derivative liabilities^(c)			(69)		(1)		(68)		―
	Net Assets (Liabilities)	$	9	$	45	$	(40)	$	4

(a)	Included in Other within Investments and Other Assets on the Condensed Consolidated Balance Sheets.
(b)	Included in Other within Current Assets on the Condensed Consolidated Balance Sheets.
(c)	Included in Other within Current Liabilities and Other within Deferred Credits and Other Liabilities on the Condensed Consolidated Balance Sheets.

	The following tables provide a reconciliation of beginning and ending balances of assets and liabilities measured at fair value
on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3):

			Derivatives
(in millions)			(net)
Three Months Ended September 30, 2012
Balance at June 30, 2012			$	22
	Total pre-tax realized or unrealized gains (losses) included in earnings:
		Regulated electric		11
	Purchases, sales, issuances and settlements:
		Settlements		(16)
Balance at September 30, 2012			$	17
Three Months Ended September 30, 2011
Balance at June 30, 2011			$	10
	Total pre-tax realized or unrealized gains (losses) included in earnings:
		Regulated electric		8
	Purchases, sales, issuances and settlements:
		Purchases		8
		Settlements		(2)
	Total losses included on the Condensed Consolidated Balance Sheet as regulatory asset or liability			(18)
Balance at September 30, 2011			$	6

			Derivatives
(in millions)			(net)
Nine Months Ended September 30, 2012
Balance at December 31, 2011			$	4
	Total pre-tax realized or unrealized gains (losses) included in earnings:
		Regulated electric		35
	Purchases, sales, issuances and settlements:
		Sales		22
		Settlements		(45)
	Total gains included on the Condensed Consolidated Balance Sheet as regulatory asset or liability			1
Balance at September 30, 2012			$	17
Nine Months Ended September 30, 2011
Balance at December 31, 2010			$	4
	Total pre-tax realized or unrealized gains (losses) included in earnings:
		Regulated electric		8
	Purchases, sales, issuances and settlements:
		Purchases		8
		Settlements		(14)
Balance at September 30, 2011			$	6

Additional Fair Value Disclosures—Long-term debt, including current maturities:

The fair value of long-term debt is summarized in the following table. Judgment is required in interpreting market data to develop the estimates of fair value. Accordingly, the estimates determined are not necessarily indicative of the amounts the Duke Energy Registrants could have settled in current markets. The fair value of the long-term debt is determined using Level 2 measurements.

		As of September 30, 2012				As of December 31, 2011
(in millions)		Book Value		Fair Value		Book Value		Fair Value
Duke Energy ^(a)		$	38,597	$	43,908	$	20,573	$	23,053
Duke Energy Carolinas^(b)		$	9,166	$	10,744	$	9,274	$	10,629
Duke Energy Ohio		$	2,046	$	2,236	$	2,555	$	2,688
Duke Energy Indiana		$	3,704	$	4,427	$	3,459	$	4,048

(a)	Includes book value of Non-recourse long-term debt of variable interest entities of $911 million and $949 million September 30, 2012 and December 31, 2011, respectively.
(b)	Includes book value of Non-recourse long-term debt of variable interest entities of $300 million at both September 30, 2012 and December 31, 2011, respectively.

At both September 30, 2012 and December 31, 2011, the fair value of cash and cash equivalents, accounts and notes receivable, accounts payable, notes payable and commercial paper and non-recourse notes payable of variable interest entities are not materially different from their carrying amounts because of the short-term nature of these instruments and/or because the stated rates approximate market rates.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19296-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 17-22, 27, 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

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