Fair Value of Financial Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2013

Fair Value Disclosures [Abstract]

Gross Notional Amounts of Commodity Forwards and Options

The following table details the gross notional amounts of commodity forwards and options at Sept. 30, 2013 and Dec. 31, 2012:

(Amounts in Thousands)(a)(b)	Sept. 30, 2013	Dec. 31, 2012
Million British thermal units (MMBtu) of natural gas	853	53

^(a)  Amounts are not reflective of net positions in the underlying commodities.

^(b)  Notional amounts for options are included on a gross basis, but are weighted for the probability of exercise.

Financial Impact of Qualifying Cash Flow Hedges on Accumulated Other Comprehensive Loss

Financial Impact of Qualifying Cash Flow Hedges — The impact of qualifying interest rate cash flow hedges on NSP-Wisconsin’s accumulated other comprehensive loss, included as a component of common stockholder’s equity and in the consolidated statement of comprehensive income, is detailed in the following table: 

	Three Months Ended Sept. 30
(Thousands of Dollars)	2013			2012
Accumulated other comprehensive loss related to cash flow hedges at July 1	$	(400	)	$	(476	)
After-tax net realized losses on derivative transactions reclassified into earnings	20			20
Accumulated other comprehensive loss related to cash flow hedges at Sept. 30	$	(380	)	$	(456	)

	Nine Months Ended Sept. 30
(Thousands of Dollars)	2013			2012
Accumulated other comprehensive loss related to cash flow hedges at Jan. 1	$	(437	)	$	(514	)
After-tax net realized losses on derivative transactions reclassified into earnings	57			58
Accumulated other comprehensive loss related to cash flow hedges at Sept. 30	$	(380	)	$	(456	)

Derivative Assets and Liabilities Measured at Fair Value on a Recurring Basis by Hierarchy Level

Recurring Fair Value Measurements — The following table presents for each of the fair value hierarchy levels, NSP-Wisconsin’s derivative assets and liabilities measured at fair value on a recurring basis at Sept. 30, 2013 and Dec. 31, 2012:

	Sept. 30, 2013
	Fair Value
(Thousands of Dollars)	Level 1		Level 2		Level 3		Fair Value Total		Counterparty Netting(a)		Total(b)
Current derivative assets
Natural gas commodity	$	—	$	346	$	—	$	346	$	—	$	346

	Dec. 31, 2012
	Fair Value
(Thousands of Dollars)	Level 1		Level 2		Level 3		Fair Value Total		Counterparty Netting(a)		Total(c)
Current derivative liabilities
Natural gas commodity	$	—	$	11	$	—	$	11	$	—	$	11

^(a)  NSP-Wisconsin nets derivative instruments and related collateral in its consolidated balance sheet when supported by a legally enforceable master netting agreement, and all derivative instruments and related collateral amounts were subject to master netting agreements at Sept. 30, 2013 and Dec. 31, 2012.  The counterparty netting amounts presented exclude settlement receivables and payables and non-derivative amounts that may be subject to the same master netting agreements.

^(b)  Included in other current assets balance of $2.9 million at Sept. 30, 2013 in the consolidated balance sheets.

^(c)  Included in other current liabilities balance of $11.0 million at Dec. 31, 2012 in the consolidated balance sheets.

Carrying Amount and Fair Value of Long-term Debt

As of Sept. 30, 2013 and Dec. 31, 2012, other financial instruments for which the carrying amount did not equal fair value were as follows:

	Sept. 30, 2013				Dec. 31, 2012
(Thousands of Dollars)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Long-term debt, including current portion	$	468,614	$	531,932	$	468,563	$	576,353