Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Measurements [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The carrying value of PacifiCorp's cash, certain cash equivalents, receivables, payables, accrued liabilities and short-term borrowings approximates fair value because of the short-term maturity of these instruments. PacifiCorp has various financial assets and liabilities that are measured at fair value on the Consolidated Financial Statements using inputs from the three levels of the fair value hierarchy. A financial asset or liability classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The three levels are as follows:

• Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that PacifiCorp has the ability to access at the measurement date.

• Level 2 - Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs).

• Level 3 - Unobservable inputs reflect PacifiCorp's judgments about the assumptions market participants would use in pricing the asset or liability since limited market data exists. PacifiCorp develops these inputs based on the best information available, including its own data.

The following table presents PacifiCorp's assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions):

	Input Levels for Fair Value Measurements
	Level 1		Level 2			Level 3		Other(1)			Total
As of June 30, 2012
Assets:
Commodity derivatives	$	—	$	80		$	2	$	(69	)	$	13
Money market mutual funds(2)	106		—			—		—			106
	$	106	$	80		$	2	$	(69	)	$	119
Liabilities - Commodity derivatives	$	—	$	(299	)	$	—	$	179		$	(120	)
As of December 31, 2011
Assets:
Commodity derivatives	$	—	$	114		$	1	$	(100	)	$	15
Money market mutual funds(2)	33		—			—		—			33
	$	33	$	114		$	1	$	(100	)	$	48
Liabilities - Commodity derivatives	$	—	$	(379	)	$	—	$	223		$	(156	)

(1) Represents netting under master netting arrangements and a net cash collateral receivable of $110 million and $123 million as of June 30, 2012 and December 31, 2011, respectively.

(2) Amounts are included in cash and cash equivalents, other current assets and other assets on the Consolidated Balance Sheets. The fair value of these money market mutual funds approximates cost.

Deriva

Fair Value Assets and Liabilities Net Measured On Recurring Basis Unobservable Input Reconciliation [Table Text Block]

The following table reconciles the beginning and ending balances of PacifiCorp's commodity derivative assets and liabilities measured at fair value on a recurring basis using significant Level 3 inputs (in millions):

	Three-Month Periods					Six-Month Periods
	Ended June 30,					Ended June 30,
	2012		2011			2012		2011
Beginning balance	$	2	$	(351	)	$	1	$	(345	)
Changes in fair value recognized in net regulatory assets	—		94			1		79
Settlements	—		17			—		26
Ending balance	$	2	$	(240	)	$	2	$	(240	)

Fair Value, by Balance Sheet Grouping [Table Text Block]

PacifiCorp's long-term debt is carried at cost on the Consolidated Financial Statements. The fair value of PacifiCorp's long-term debt is a Level 2 fair value measurement and has been estimated based upon quoted market prices, where available, or at the present value of future cash flows discounted at rates consistent with comparable maturities with similar credit risks. The carrying value of PacifiCorp's variable-rate long-term debt approximates fair value because of the frequent repricing of these instruments at market rates. The following table presents the carrying value and estimated fair value of PacifiCorp's long-term debt (in millions):

	As of June 30, 2012				As of December 31, 2011
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value
Long-term debt	$	6,817	$	8,321	$	6,157	$	7,804