Leasing Activities (Tables)

12 Months Ended

Dec. 31, 2011

Leasing Activities [Abstract]

Cross-Border Energy Lease Investments

	2011			2010
	(millions of dollars)
Scheduled lease payments to PHI, net of non-recourse debt	$	2,120		$	2,265
Less: Unearned and deferred income		(771	)		(842	)
Investment in finance leases held in trust		1,349			1,423
Less: Deferred income tax liabilities		(793	)		(816	)
Net investment in finance leases held in trust	$	556		$	607

Income Recognized From Cross-Border Energy Lease Investments

	2011			2010			2009
	(millions of dollars)
Pre-tax income from PHI's cross-border energy lease investments (included in Other Revenue)	$	55		$	55		$	54
Non-cash charge to reduce equity value of PHI's cross-border energy lease investments		(7	)		(2	)		(3	)
Pre-tax income from PHI's cross-border energy lease investments after adjustment		48			53			51
Income tax expense		10			14			16
Net income from PHI's cross-border energy lease investments	$	38		$	39		$	35

Net Investment In Leases By The Published Credit Ratings

Lessee Rating (a)	2011		2010
	(millions of dollars)
Rated Entities
AA/Aa and above	$	737	$	709
A		612		549
Total		1,349		1,258
Non Rated Entities		—		165
Total	$	1,349	$	1,423

(a) Excludes the credit ratings of collateral posted by the lessees in these transactions.

Capital Lease Assets Recorded Within Property, Plant And Equipment

	Original Cost		Accumulated Amortization		Net Book Value
At December 31, 2011
Transmission	$	76	$	33	$	43
Distribution		76		33		43
General		3		3		—
Total	$	155	$	69	$	86
At December 31, 2010
Transmission	$	76	$	29	$	47
Distribution		76		29		47
General		3		3		—
Total	$	155	$	61	$	94