Fair Value Disclosures (Tables)

6 Months Ended

Jun. 30, 2011

Fair Value Disclosures Tables Abstract

Available for sale securities

The following table summarizes our available-for-sale securities at June 30, 2011 and December 31, 2010:

(in millions)		Fair Value		Unrealized Losses		Unrealized Gains
June 30, 2011
Common stock equity		$	1,098	$	13	$	462
Preferred stock and other equity			53		-		12
Corporate debt			94		-		5
U.S. state and municipal debt			109		2		3
U.S. and foreign government debt			249		-		11
Money market funds and other			95		-		1
	Total	$	1,698	$	15	$	494
December 31, 2010
Common stock equity		$	1,021	$	13	$	408
Preferred stock and other equity			28		-		11
Corporate debt			90		-		6
U.S. state and municipal debt			132		4		3
U.S. and foreign government debt			264		2		10
Money market funds and other			52		-		1
	Total	$	1,587	$	19	$	439

Available for sale debt securities by contractual maturity

At June 30, 2011, the fair value of our available-for-sale debt securities by contractual maturity was:

(in millions)
Due in one year or less	$	54
Due after one through five years		132
Due after five through 10 years		205
Due after 10 years		68
Total	$	459

Sales of available for sale securities

The following table presents selected information about our sales of available-for-sale securities during the three and six months ended June 30, 2011 and 2010. Realized gains and losses were determined on a specific identification basis.

	Three months ended June 30				Six months ended June 30
(in millions)		2011		2010		2011		2010
Proceeds	$	1,448	$	1,755	$	3,192	$	3,692
Realized gains		6		6		14		10
Realized losses		6		10		10		16

Fair value measurements - assets

PROGRESS ENERGY
(in millions)				Level 1		Level 2		Level 3		Total
June 30, 2011
Assets
	Nuclear decommissioning trust funds
		Common stock equity	$	1,098	$	-	$	-	$	1,098
		Preferred stock and other equity		26		27		-		53
		Corporate debt		-		93		-		93
		U.S. state and municipal debt		-		110		-		110
		U.S. and foreign government debt		100		149		-		249
		Money market funds and other		2		81		-		83
	Total nuclear decommissioning trust funds			1,226		460		-		1,686
	Derivatives
		Commodity forward contracts		-		18		-		18
		Interest rate contracts		-		1		-		1
	Other marketable securities
		Money market and other		21		7		-		28
		Total assets	$	1,247	$	486	$	-	$	1,733

(in millions)				Level 1		Level 2		Level 3		Total
December 31, 2010
Assets
	Nuclear decommissioning trust funds
		Common stock equity	$	1,021	$	-	$	-	$	1,021
		Preferred stock and other equity		22		6		-		28
		Corporate debt		-		86		-		86
		U.S. state and municipal debt		-		132		-		132
		U.S. and foreign government debt		79		182		-		261
		Money market funds and other		1		42		-		43
	Total nuclear decommissioning trust funds			1,123		448		-		1,571
	Derivatives
		Commodity forward contracts		-		15		-		15
		Interest rate contracts		-		4		-		4
	Other marketable securities
		Corporate debt		-		4		-		4
		U.S. and foreign government debt		-		3		-		3
		Money market and other		18		-		-		18
		Total assets	$	1,141	$	474	$	-	$	1,615

Fair value measurements - liabilities

Liabilities
	Derivatives
		Commodity forward contracts	$	-	$	376	$	36	$	412
		Interest rate contracts		-		35		-		35
		Contingent value obligations		-		11		-		11
		Total liabilities	$	-	$	422	$	36	$	458

Liabilities
	Derivatives
		Commodity forward contracts	$	-	$	458	$	36	$	494
		Interest rate contracts		-		39		-		39
		Contingent value obligations		-		15		-		15
		Total liabilities	$	-	$	512	$	36	$	548

Fair value measurements - unobservable input reconciliation

PROGRESS ENERGY
		Three months ended June 30				Six months ended June 30
(in millions)			2011		2010		2011		2010
Derivatives, net at beginning of period		$	32	$	52	$	36	$	39
Total losses, realized and unrealized
	deferred as regulatory assets and liabilities, net		5		10		1		23
Derivatives, net at end of period		$	37	$	62	$	37	$	62