Fair Value (Tables)

9 Months Ended

Sep. 30, 2019

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, carrying value and cost of our non-derivative instruments at September 30, 2019 and December 31, 2018. Further information about the fair value of our derivative instruments can be found in Note 5 – Derivative Instruments and Hedging Activities.

	September 30, 2019				December 31, 2018
$ in millions	Cost		Fair Value		Cost		Fair Value
Assets
Money market funds	$	0.2	$	0.2	$	0.4	$	0.4
Equity securities	2.3		3.9		2.4		3.5
Debt securities	4.1		4.1		4.1		4.0
Hedge funds	0.1		0.1		0.1		0.1
Tangible assets	0.1		0.1		0.1		0.1
Total Assets	$	6.8	$	8.4	$	7.1	$	8.1
	Carrying Value		Fair Value		Carrying Value		Fair Value
Liabilities
Long-term debt	$	1,362.9	$	1,451.3	$	1,475.9	$	1,519.6

Fair Value of Assets and Liabilities Measured on Recurring Basis

The fair value of assets and liabilities at September 30, 2019 and December 31, 2018 and the respective category within the fair value hierarchy for DPL is as follows:

$ in millions	Fair value at September 30, 2019 (a)								Fair value at December 31, 2018 (a)
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Master Trust assets
Money market funds	$	0.2	$	—	$	—	$	0.2	$	0.4	$	—	$	—	$	0.4
Equity securities	—		3.9		—		3.9		—		3.5		—		3.5
Debt securities	—		4.1		—		4.1		—		4.0		—		4.0
Hedge funds	—		0.1		—		0.1		—		0.1		—		0.1
Tangible assets	—		0.1		—		0.1		—		0.1		—		0.1
Total Master Trust assets	0.2		8.2		—		8.4		0.4		7.7		—		8.1
Derivative assets
Interest rate hedges	—		0.2		—		0.2		—		1.5		—		1.5
Total Derivative assets	—		0.2		—		0.2		—		1.5		—		1.5
Total Assets	$	0.2	$	8.4	$	—	$	8.6	$	0.4	$	9.2	$	—	$	9.6
Liabilities
Long-term debt	$	—	$	1,433.7	$	17.6	$	1,451.3	$	—	$	1,501.9	$	17.7	$	1,519.6
Total Liabilities	$	—	$	1,433.7	$	17.6	$	1,451.3	$	—	$	1,501.9	$	17.7	$	1,519.6

(a)

Includes credit valuation adjustment

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, carrying value and cost of our non-derivative instruments at September 30, 2019 and December 31, 2018. Further information about the fair value of our derivative instruments can be found in Note 5 – Derivative Instruments and Hedging Activities.

	September 30, 2019				December 31, 2018
$ in millions	Cost		Fair Value		Cost		Fair Value
Assets
Money market funds	$	0.2	$	0.2	$	0.4	$	0.4
Equity securities	2.3		3.9		2.4		3.5
Debt securities	4.1		4.1		4.1		4.0
Hedge funds	0.1		0.1		0.1		0.1
Tangible assets	0.1		0.1		0.1		0.1
Total assets	$	6.8	$	8.4	$	7.1	$	8.1
	Carrying Value		Fair Value		Carrying Value		Fair Value
Liabilities
Long-term debt	$	574.2	$	631.0	$	586.1	$	593.8

Fair Value of Assets and Liabilities Measured on Recurring Basis

The fair value of assets and liabilities at September 30, 2019 and December 31, 2018 and the respective category within the fair value hierarchy for DP&L is as follows:

$ in millions	Fair value at September 30, 2019 (a)								Fair value at December 31, 2018 (a)
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Master Trust assets
Money market funds	$	0.2	$	—	$	—	$	0.2	$	0.4	$	—	$	—	$	0.4
Equity securities	—		3.9		—		3.9		—		3.5		—		3.5
Debt securities	—		4.1		—		4.1		—		4.0		—		4.0
Hedge funds	—		0.1		—		0.1		—		0.1		—		0.1
Tangible assets	—		0.1		—		0.1		—		0.1		—		0.1
Total Master Trust assets	0.2		8.2		—		8.4		0.4		7.7		—		8.1
Derivative assets
Interest rate hedges	—		0.2		—		0.2		—		1.5		—		1.5
Total derivative assets	—		0.2		—		0.2		—		1.5		—		1.5
Total assets	$	0.2	$	8.4	$	—	$	8.6	$	0.4	$	9.2	$	—	$	9.6
Liabilities
Long-term debt	$	—	$	613.4	$	17.6	631.0		$	—	$	576.1	$	17.7	$	593.8
Total liabilities	$	—	$	613.4	$	17.6	$	631.0	$	—	$	576.1	$	17.7	$	593.8

(a) Includes credit valuation adjustment