2.	Accounting Pronouncements

Recently Issued

Fair Value Measurement - In May 2011, the Financial Accounting Standards Board (FASB) issued Fair Value Measurement (Topic 820) - Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs (Accounting Standards Update (ASU) No. 2011-04), which provides additional guidance for fair value measurements. These updates to the FASB Accounting Standards Codification (ASC or Codification) include clarifications regarding existing fair value measurement principles and disclosure requirements, and also specific new guidance for items such as measurement of instruments classified within stockholders' equity and disclosures regarding the sensitivity of Level 3 measurements to changes in valuation model inputs. These updates to the Codification are effective for interim and annual periods beginning after Dec. 15, 2011. NSP-Wisconsin does not expect the implementation of this guidance to have a material impact on its consolidated financial statements.

Comprehensive Income - In June 2011, the FASB issued Comprehensive Income (Topic 220) - Presentation of Comprehensive Income (ASU No. 2011-05), which updates the Codification to require the presentation of the components of net income, the components of other comprehensive income and total comprehensive income in either a single continuous statement of comprehensive income or in two separate, but consecutive statements of net income and comprehensive income. These updates do not affect the items reported in other comprehensive income or the guidance for reclassifying such items to net income. These updates to the Codification are effective for interim and annual periods beginning after Dec. 15, 2011. NSP-Wisconsin does not expect the implementation of this presentation guidance to have a material impact on its consolidated financial statements.

Multiemployer Plans - In September 2011, the FASB issued Multiemployer Plans (Subtopic 715-80) - Disclosures about an Employer's Participation in a Multiemployer Plan (ASU No. 2011-09), which updates the Codification to require certain disclosures about an entity's involvement with multiemployer pension and other postretirement benefit plans. These updates do not affect recognition and measurement guidance for an employer's participation in multiemployer plans, but rather require additional disclosure such as the nature of multiemployer plans and the employer's participation, contributions to the plans and details regarding significant plans. These updates to the Codification are effective for annual periods ending after Dec. 15, 2011. NSP-Wisconsin does not expect the implementation of this disclosure guidance to have a material impact on its consolidated financial statements.