Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2015

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value and Cost Of Non-Derivative Instruments

The following table presents the fair value and cost of our non-derivative instruments at September 30, 2015 and December 31, 2014. Information about the fair value of our derivative instruments can be found in Note 9.

	September 30, 2015				December 31, 2014
$ in millions	Cost		Fair Value		Cost		Fair Value
Assets
Money market funds	$	0.2	$	0.2	$	0.1	$	0.1
Equity securities	2.7		3.4		2.7		3.7
Debt securities	4.5		4.4		4.7		4.7
Hedge funds	0.7		0.7		0.8		0.8
Real estate	0.3		0.3		0.4		0.4
Total Assets	$	8.4	$	9.0	$	8.7	$	9.7
Liabilities
Debt	$	2,009.4	$	2,033.7	$	2,159.7	$	2,204.8

Fair Value of Assets and Liabilities Measured on Recurring Basis

The fair value of assets and liabilities at September 30, 2015 and December 31, 2014 and the respective category within the fair value hierarchy for DPL was determined as follows:

Assets and Liabilities at Fair Value
			Level 1		Level 2		Level 3
$ in millions	Fair value at September 30, 2015		Based on Quoted Prices in Active Markets		Other Observable Inputs		Unobservable Inputs
Assets
Master Trust assets
Money market funds	$	0.2	$	0.2	$	—	$	—
Equity securities	3.4		—		3.4		—
Debt securities	4.4		—		4.4		—
Hedge funds	0.7		—		0.7		—
Real estate	0.3		—		0.3		—
Total Master Trust assets	9.0		0.2		8.8		—
Derivative Assets
FTRs	0.4		—		—		0.4
Forward power contracts	30.0		—		30.0		—
Total Derivative assets	30.4		—		30.0		0.4
Total Assets	$	39.4	$	0.2	$	38.8	$	0.4
Liabilities
Derivative Liabilities
FTRs	0.7		—		—		0.7
Forward power contracts	24.4		—		22.2		2.2
Total Derivative liabilities	25.1		—		22.2		2.9
Debt	2,033.7		—		2,015.6		18.1
Total Liabilities	$	2,058.8	$	—	$	2,037.8	$	21.0

Assets and Liabilities at Fair Value
			Level 1		Level 2		Level 3
$ in millions	Fair value at December 31, 2014		Based on Quoted Prices in Active Markets		Other Observable Inputs		Unobservable Inputs
Assets
Master Trust assets
Money market funds	$	0.1	$	0.1	$	—	$	—
Equity securities	3.7		—		3.7		—
Debt securities	4.7		—		4.7		—
Hedge funds	0.8		—		0.8		—
Real estate	0.4		—		0.4		—
Total Master Trust assets	9.7		0.1		9.6		—
Derivative assets
Forward power contracts	14.9		—		13.7		1.2
Total Derivative assets	14.9		—		13.7		1.2
Total Assets	$	24.6	$	0.1	$	23.3	$	1.2
Liabilities
Derivative liabilities
FTRs	$	0.6	$	—	$	—	0.6
Heating oil futures	0.4		0.4		—		—
Natural gas futures	0.1		0.1		—		—
Forward power contracts	11.1		—		11.1		—
Total Derivative liabilities	12.2		0.5		11.1		0.6
Debt	2,204.8		—		2,186.6		18.2
Total Liabilities	$	2,217.0	$	0.5	$	2,197.7	$	18.8

Fair Value Measurements, Nonrecurring

The following table summarizes Goodwill and Long-lived assets measured at fair value on a non-recurring basis during the period and their level within the fair value hierarchy (there were no impairments during the nine months ended September 30, 2015):

$ in millions	Nine months ended September 30, 2014
	Carrying		Fair Value						Gross
	Amount (c)		Level 1		Level 2		Level 3		Loss
Assets
Long-lived assets (a)
DP&L (East Bend)	$	14.2	$	—	$	—	$	2.7	$	11.5
Goodwill (b)
DPLER Reporting unit	$	135.8	$	—	$	—	$	—	$	135.8

(a)See Note 9 for further information

(b)See Note 12 for further information

(c)Carrying amount at date of valuation

THE DAYTON POWER AND LIGHT COMPANY [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value and Cost Of Non-Derivative Instruments

The following table presents the fair value and cost of our non-derivative instruments at September 30, 2015 and December 31, 2014. Information about the fair value of our derivative instruments can be found in Note 9.

	September 30, 2015				December 31, 2014
$ in millions	Cost		Fair Value		Cost		Fair Value
Assets
Money market funds	$	0.2	$	0.2	$	0.1	$	0.1
Equity securities	2.7		3.4		2.7		3.7
Debt securities	4.5		4.4		4.7		4.7
Hedge funds	0.7		0.7		0.8		0.8
Real estate	0.3		0.3		0.4		0.4
Total assets	$	8.4	$	9.0	$	8.7	$	9.7
Liabilities
Debt	$	762.9	$	764.3	$	877.1	$	882.5

Fair Value of Assets and Liabilities Measured on Recurring Basis

The fair value of assets and liabilities at September 30, 2015 and December 31, 2014 and the respective category within the fair value hierarchy for DP&L was determined as follows:

Assets and Liabilities at Fair Value
			Level 1		Level 2		Level 3
$ in millions	Fair value at September 30, 2015		Based on Quoted Prices in Active Markets		Other Observable Inputs		Unobservable Inputs
Assets
Master Trust assets
Money market funds	$	0.2	$	0.2	$	—	$	—
Equity securities	3.4		—		3.4		—
Debt securities	4.4		—		4.4		—
Hedge funds	0.7		—		0.7		—
Real estate	0.3		—		0.3		—
Total Master Trust assets	9.0		0.2		8.8		—
Derivative assets
FTRs	0.4		—		—		0.4
Forward power contracts	30.2		—		30.2		—
Total derivative assets	30.6		—		30.2		0.4
Total assets	$	39.6	$	0.2	$	39.0	$	0.4
Liabilities
Derivative liabilities
FTRs	$	0.7	$	—	$	—	$	0.7
Forward power contracts	24.5		—		22.3		2.2
Total derivative liabilities	25.2		—		22.3		2.9
Debt	764.3		—		746.2		18.1
Total liabilities	$	789.5	$	—	$	768.5	$	21.0

Assets and Liabilities at Fair Value
			Level 1		Level 2		Level 3
$ in millions	Fair value at December 31, 2014		Based on Quoted Prices in Active Markets		Other Observable Inputs		Unobservable Inputs
Assets
Master Trust assets
Money market funds	$	0.1	$	0.1	$	—	$	—
Equity securities	3.7		—		3.7		—
Debt securities	4.7		—		4.7		—
Hedge funds	0.8		—		0.8		—
Real estate	0.4		—		0.4		—
Total Master Trust assets	9.7		0.1		9.6		—
Derivative assets
Forward power contracts	15.1		—		13.9		1.2
Total Derivative assets	15.1		—		13.9		1.2
Total assets	$	24.8	$	0.1	$	23.5	$	1.2
Liabilities
Derivative liabilities
FTRs	$	0.6	$	—	$	—	$	0.6
Heating oil futures	0.4		0.4		—		—
Natural gas futures	0.1		0.1		—		—
Forward power contracts	11.2		—		11.2		—
Total Derivative liabilities	12.3		0.5		11.2		0.6
Debt	882.5		—		864.3		18.2
Total liabilities	$	894.8	$	0.5	$	875.5	$	18.8