XML 41 R19.htm IDEA: XBRL DOCUMENT v2.4.0.6
Risk Management and Hedging Activities Risk Management and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2012
Risk Management and Hedging Activities [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
The following table, which reflects master netting arrangements and excludes contracts that have been designated as normal under the normal purchases or normal sales exception afforded by GAAP, summarizes the fair value of PacifiCorp's derivative contracts, on a gross basis, and reconciles those amounts to the amounts presented on a net basis on the Consolidated Balance Sheets (in millions):

 
 
 
 
 
Derivative
 
 
 
 
 
Other
 
 
 
Contracts -
 
Other
 
 
 
Current
 
Other
 
Liabilities
 
Long-term
 
 
 
Assets
 
Assets
 
Current
 
Liabilities
 
Total
 
 
 
 
 
 
 
 
 
 
As of June 30, 2012
 
 
 
 
 
 
 
 
 
Not designated as hedging contracts(1):
 
 
 
 
 
 
 
 
 
Commodity assets
$
19

 
$
1

 
$
50

 
$
12

 
$
82

Commodity liabilities
(7
)
 
—

 
(198
)
 
(94
)
 
(299
)
Total
12

 
1

 
(148
)
 
(82
)
 
(217
)
 
 

 
 

 
 

 
 

 
 

Total derivatives
12

 
1

 
(148
)
 
(82
)
 
(217
)
Cash collateral (payable) receivable
—

 
—

 
76

 
34

 
110

Total derivatives - net basis
$
12

 
$
1

 
$
(72
)
 
$
(48
)
 
$
(107
)
 
 
 
 
 
 
 
 
 
 
As of December 31, 2011
 
 
 
 
 
 
 
 
 
Not designated as hedging contracts(1):
 
 
 
 
 
 
 
 
 
Commodity assets
$
30

 
$
7

 
$
66

 
$
12

 
$
115

Commodity liabilities
(17
)
 
(3
)
 
(242
)
 
(117
)
 
(379
)
Total
13

 
4

 
(176
)
 
(105
)
 
(264
)
 
 
 
 
 
 
 
 
 
 
Total derivatives
13

 
4

 
(176
)
 
(105
)
 
(264
)
Cash collateral (payable) receivable
(2
)
 
—

 
86

 
39

 
123

Total derivatives - net basis
$
11

 
$
4

 
$
(90
)
 
$
(66
)
 
$
(141
)

(1)
PacifiCorp's commodity derivatives are generally included in rates and as of June 30, 2012 and December 31, 2011, a net regulatory asset of $217 million and $264 million, respectively, was recorded related to the net derivative liability of $217 million and $264 million, respectively.
Schedule of Regulatory Assets (Liabilities), Net, Unrealized Loss (Gain), Net, on Derivative Contracts [Table Text Block]
The following table reconciles the beginning and ending balances of PacifiCorp's net regulatory assets and summarizes the pre-tax gains and losses on commodity derivative contracts recognized in net regulatory assets, as well as amounts reclassified to earnings (in millions):

 
 
Three-Month Periods
 
Six-Month Periods
 
 
Ended June 30,
 
Ended June 30,
 
 
2012
 
2011
 
2012
 
2011
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
284

 
$
505

 
$
264

 
$
487

Changes in fair value recognized in net regulatory assets
 
(4
)
 
(64
)
 
48

 
(66
)
Net gains reclassified to operating revenue
 
4

 
2

 
18

 
10

Net (losses) gains reclassified to energy costs
 
(67
)
 
(5
)
 
(113
)
 
7

Ending balance
 
$
217

 
$
438

 
$
217

 
$
438
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]
The following table summarizes the net notional amounts of outstanding commodity derivative contracts with fixed price terms that comprise the mark-to-market values as of (in millions):

 
Unit of
 
June 30,
 
December 31,
 
Measure
 
2012
 
2011
Electricity sales
Megawatt hours
 
(2
)
 
(2
)
Natural gas purchases
Decatherms
 
77

 
96

Fuel oil purchases
Gallons
 
8

 
17