Recently Issued Accounting Guidance



Guidance	Description	Effective date	Effect on the financial statements or other significant matters
ASU 2014-09, May 2014, Revenue from Contracts with Customers (Topic 606)	Under the new standard, entities will recognize revenue to depict the transfer of goods and services to customers in amounts that reflect the payment to which the entity expects to be entitled in exchange for those goods or services. The disclosure requirements will provide information about the nature, amount, timing and uncertainty of revenue and cash flows from an entity’s contracts with customers.	Annual periods beginning after December 15, 2017 (beginning November 1, 2018 for us) and interim periods within that period, with early adoption permitted for annual periods beginning after December 15, 2016.	We are currently evaluating the effect on our financial position, results of operations and cash flows, as well as the transition approach we will take. The evaluation includes identifying revenue streams by like contracts to allow for ease of implementation. In our evaluation, we are following the efforts of an accounting utility subgroup and its issuance of a revenue implementation guide.



Guidance	Description	Effective date	Effect on the financial statements or other significant matters
ASU 2014-15, August 2014, Presentation of Financial Statements - Going Concern (Subtopic 205-40)	The Financial Accounting Standards Board (FASB) issued accounting guidance on determining when and how reporting entities must disclose going concern uncertainties in their financial statements. The new standard requires management to perform interim and annual assessments of an entity's ability to continue as a going concern within one year of the date of issuance of the entity's financial statements. An entity must provide certain disclosures if there is a "substantial doubt about the entity's ability to continue as a going concern."	Annual periods ending after December 15, 2016 (October 31, 2017 for us), and interim and annual periods thereafter; early adoption is permitted.	The adoption of this guidance will have no impact on our financial position, results of operations or cash flows. It will require establishing a going concern assessment process to meet the standard.
ASU 2015-01, January 2015, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20)	The FASB issued accounting guidance eliminating the concept of extraordinary items, thus eliminating the need to assess whether a particular event or transaction event is extraordinary. The presentation and disclosure guidance for items that are unusual in nature or occur infrequently will be retained and will be expanded to include items that are both unusual in nature and infrequently occurring, with the amendments being applicable either prospectively or retrospectively, to all prior periods presented in the financial statements.	Annual periods beginning after December 15, 2015 (November 1, 2016 for us), and interim periods within those periods, with early adoption permitted, provided that the guidance is applied from the beginning of the fiscal year of adoption.	The adoption of this guidance will be applied on a prospective basis. We have not had any extraordinary or unusual items that would impact our financial position, results of operations or cash flows.
ASU 2015-02, February 2015, Consolidation - Amendments to the Consolidation Analysis (Topic 810)	The FASB issued accounting guidance which amends the consolidation requirements in ASC 810. The amendments significantly change the consolidation analysis required under U.S. GAAP. The focus of this guidance is largely on the investment management industry related to limited partnerships becoming variable interest entities; however, it could have an impact on the consolidation conclusions of reporting entities in other industries.	Annual periods beginning after December 15, 2015 (November 1, 2016 for us), and interim periods within those periods, with early adoption permitted, provided that the guidance is applied from the beginning of the annual period containing the adoption date.	The adoption of this guidance will have no impact on our financial position, results of operations or cash flows.
ASU 2015-03, April 2015, Interest: Imputation of Interest - Simplifying the Presentation of Debt Issuance Costs (Subtopic 835-30)	The FASB issued accounting guidance as part of its simplification initiative to reduce complexity in accounting standards. The amendment requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this amendment.	Annual periods beginning after December 15, 2015 (November 1, 2016 for us), and interim periods within those fiscal years, with early adoption permitted for financial statements that have not been previously issued.	We plan to adopt this guidance in our fourth quarter of 2015. The adoption of this guidance will have no effect on the results of operations or cash flows. It will retrospectively affect the presentation of the balance sheet line items current and noncurrent "Regulatory assets," "Long-term debt" and "Short-term debt."



Guidance	Description	Effective date	Effect on the financial statements or other significant matters
ASU 2015-05, April 2015, Intangibles -Goodwill and Other - Internal-Use Software: Customer's Accounting for Fees Paid in a Cloud Computing Arrangement (Subtopic 350-40)	The FASB issued accounting guidance that amends ASC 350-40 to provide customers with guidance on determining whether a cloud computing arrangement contains a software license that should be accounted for as internal-use software. The guidance applies only to hosting arrangements if both of the following criteria are met: (a) the customer has the contractual right to take possession of the software at any time during the hosting period without significant penalty and (b) it is feasible for the customer to run the software on its own hardware or contract with another party to host the software.	Annual periods (and interim periods therein) beginning after December 15, 2015 (November 1, 2016 for us), with early adoption permitted. Entities may adopt the guidance (1) retrospectively or (2) prospectively to arrangements entered into, or materially modified, after the effective date.	We are currently evaluating the effect on our financial position, results of operations and cash flows.
ASU 2015-07, May 2015, Fair Value Measurement: Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) (Topic 820)	The FASB issued accounting guidance that amends the required disclosure of investments for which fair value is measured at net asset value per share (or its equivalent). The amendments remove the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the net asset value per share practical expedient.	Annual periods beginning after December 15, 2015 (November 1, 2016 for us), and interim periods within those fiscal years, with retrospective application to all periods presented and early adoption permitted.	The adoption of this guidance will have no impact on our financial position, results of operations or cash flows. We will disclose certain benefit plan assets under the new guidance.
ASU 2015-11, July 2015, Inventory: Simplifying the Measurement of Inventory (Topic 330)	The FASB issued accounting guidance which modifies existing requirements regarding measuring inventory at the lower of cost or market where market could be replacement cost, net realizable value (NRV) or NRV less an approximately normal profit margin. The new ASU replaces market with NRV, defined as estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The ASU applies to all inventory except inventory measured using last-in, first-out or the retail inventory method.	Annual periods beginning after December 15, 2016 (November 1, 2017 for us), and interim periods within those fiscal years applied prospectively, with early adoption permitted as of the beginning of an interim or annual reporting period.	The adoption of this guidance will have no impact on our financial position, results of operations or cash flows.
ASU 2015-12, July 2015, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962) and Health and Welfare Benefit Plans (Topic 965)	The FASB issued a three-part standard providing guidance on certain aspects of the accounting by employee benefit plans. The ASU: (1) requires a pension plan to use contract value as the only measure for fully benefit-responsive investment contracts; (2) simplifies and increases the effectiveness of the investment disclosure requirements for employee benefit plans by grouping investments by general type; and (3) provides benefit plans with a measurement-date practical expedient on a month-end date nearest to the employer's fiscal year end.	Annual periods beginning after December 15, 2015 (November 1, 2016 for us) with early adoption permitted. The amendments in parts (1) and (2) are retrospectively applied to all periods presented, while the amendment in part (3) is applied prospectively.	The adoption of this guidance will have no impact on our financial position, results of operations or cash flows. We will disclose certain benefit plan assets under the new guidance. Parts (1) and (2) are applicable to our Form 11-K filing; part (3) is not applicable to us.