Guarantees (Tables)

12 Months Ended

Dec. 31, 2015

The following table shows our outstanding guarantees:



	Total Amounts Committed		Expiration
(in millions)	at December 31, 2015		Less Than 1 Year		1 to 3 Years		Over 3 Years
Guarantees
Guarantees supporting commodity transactions of subsidiaries ⁽¹⁾	$	174.5	$	95.0	$	—	$	79.5
Standby letters of credit ⁽²⁾	28.4		18.5		9.7		0.2
Surety bonds⁽³⁾	38.6		38.6		—		—
Other guarantees⁽⁴⁾	70.5		20.6		0.1		49.8
Total guarantees	$	312.0	$	172.7	$	9.8	$	129.5


⁽¹⁾	Consists of (a) $5.0 million and $11.0 million to support the business operations of WBS and PDL, respectively; and (b) $117.6 million, $40.3 million, and $0.6 million related to natural gas supply at MERC, MGU, and ITF, respectively. These amounts are not reflected on our balance sheets.


⁽²⁾	At our request or the request of our subsidiaries, financial institutions have issued standby letters of credit for the benefit of third parties that have extended credit to our subsidiaries. These amounts are not reflected on our balance sheets.


⁽³⁾	Primarily for the construction and operation of CNG fueling stations by ITF, workers compensation self-insurance programs, and obtaining various licenses, permits, and rights-of-way. These amounts are not reflected on our balance sheets.

⁽⁴⁾

Consists of (a) $19.1 million to support PDL's future payment obligations related to its distributed solar generation projects, of which $6.6 million is covered by a reciprocal guarantee from a third party; (b) $20.0 million for an interconnection agreement between WPS and ATC; (c) $10.0 million related to the sale of a nonregulated retail marketing business previously owned by Integrys; (d) $11.2 million related to the performance of an operating and maintenance agreement by ITF; and (e) $10.2 million related to other indemnifications. The amounts discussed in items (a), (b) and (d) are not reflected on our balance sheets. An insignificant liability was recorded for item (c) related to the possible imposition of additional miscellaneous gross receipts tax in the event of a change in law or interpretation of the law. In addition, a liability of $9.6 million related to workers compensation coverage was recorded for item (e).