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Guarantees
9 Months Ended
Sep. 30, 2011
Guarantees [Abstract] 
GUARANTEES
GUARANTEES

We enter into various guarantees to provide financial and performance assurance to third parties on behalf of our affiliates. As of September 30, 2011, we had the following guarantees:

 
Maximum Potential
 
 
 
 
 
Future Payments
 
Outstanding
 
Liability Recorded
 
(Millions of Dollars)
Guarantees
$
2.8

 
$
0.1

 
$
—

Letters of Credit
$
1.6

 
$
0.7

 
$
—



We provide guarantees to support obligations of our affiliates to third parties under agreements and surety bonds. In the event our affiliates fail to perform, we would be responsible for the obligations.

Wisconsin Electric is subject to the potential retrospective premiums that could be assessed under its insurance program.