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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2011

Summary of Significant Accounting Policies (Tables) [Abstract]

Other Income and Deductions, Net: We recorded the following items in Other Income and Deductions, net for the years ended December 31:



Other Income and Deductions, net	2011		2010		2009
	(Millions of Dollars)

AFUDC - Equity	$	59.4	$	32.5	$	16.0
Gain on Property Sales	2.4		4.4		1.7
Other, net	0.9		3.3		10.8
Total Other Income and Deductions, net	$	62.7	$	40.2	$	28.5

Property In Service By Segment

We recorded the following property in service by segment as of December 31:



Property In Service	2011		2010
	(Millions of Dollars)

Utility Energy	$	9,817.7	$	9,221.1
Non-Utility Energy	3,067.5		2,283.4
Other	92.5		86.3
Total	$	12,977.7	$	11,590.8

Construction Work in Progress (CWIP) by segment

We recorded the following Construction Work in Progress (CWIP) by segment as of December 31:



CWIP	2011		2010
	(Millions of Dollars)

Utility Energy	$	910.3	$	806.9
Non-Utility Energy	8.9		761.3
Other	2.1		1.7
Total	$	921.3	$	1,569.9

Allowance For Funds Used During Construction

Our regulated segment recorded the following AFUDC for the years ended December 31:



	2011		2010		2009
	(Millions of Dollars)

AFUDC - Debt	$	24.7	$	13.5	$	6.7
AFUDC - Equity	$	59.4	$	32.5	$	16.0

Inventories

Materials, Supplies and Inventories: Our inventory as of December 31 consists of:



Materials, Supplies and Inventories	2011		2010
	(Millions of Dollars)

Fossil Fuel	$	169.2	$	182.4
Materials and Supplies	114.1		105.2
Natural Gas in Storage	98.7		91.5
Total	$	382.0	$	379.1

Substantially all fossil fuel, materials and supplies, and natural gas in storage inventories are recorded using the weighted-average cost method of accounting.

Fair value of stock options

The fair value of our stock options was calculated using a binomial option-pricing model using the following weighted-average assumptions:



	2011	2010	2009
Risk-free interest rate	0.2% - 3.4%	0.2% - 3.9%	0.3% - 2.5%
Dividend yield	3.9%	3.7%	3.0%
Expected volatility	19.0%	20.3%	25.9%
Expected life (years)	5.5	5.9	6.2
Expected forfeiture rate	2.0%	2.0%	2.0%
Weighted-average fair value
of our stock options granted	$3.17	$3.36	$4.01

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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