XML 49 R39.htm IDEA: XBRL DOCUMENT v3.21.1
Fair Value of Financial Assets and Liabilities - Recurring Fair Value Measurements (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Derivatives, Fair Value      
Return Cash Collateral $ 0   $ 0
Reclaim Cash Collateral 0   0
Commodity Contract [Member]      
Changes in Level 3 Commodity Derivatives      
Balance at beginning of period 7 $ 12  
Purchases 0 12  
Settlements (9) (5)  
Net gains recognized as regulatory assets and liabilities 14 (2)  
Balance at end of period 12 17  
Transfers Level 3, Net 0 $ 0  
Other Current Assets      
Derivatives, Fair Value      
Derivative asset, net 13   10
Other Noncurrent Assets      
Derivatives, Fair Value      
Derivative asset, net 11   9
Other Current Liabilities      
Derivatives, Fair Value      
Derivative liability, net 4   4
Other Noncurrent Liabilities      
Derivatives, Fair Value      
Derivative liability, net 8   9
Fair Value Measured on a Recurring Basis | Other Current Assets      
Derivatives, Fair Value      
Derivative asset, gross 10   7
Asset, netting [1] 0   0
Derivative asset, net 10   7
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 1      
Derivatives, Fair Value      
Derivative asset, gross 0   0
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 2      
Derivatives, Fair Value      
Derivative asset, gross 0   0
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 3      
Derivatives, Fair Value      
Derivative asset, gross 10   7
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Electric Commodity      
Derivatives, Fair Value      
Derivative asset, gross 10   7
Asset, netting [1] 0   0
Derivative asset, net 10   7
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 1 | Electric Commodity      
Derivatives, Fair Value      
Derivative asset, gross 0   0
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 2 | Electric Commodity      
Derivatives, Fair Value      
Derivative asset, gross 0   0
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 3 | Electric Commodity      
Derivatives, Fair Value      
Derivative asset, gross 10   7
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Other Derivative Instruments | Electric Commodity      
Derivatives, Fair Value      
Derivative asset, gross 2   0
Asset, netting [1] 0   0
Derivative asset, net 2   0
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Other Derivative Instruments | Level 1 | Electric Commodity      
Derivatives, Fair Value      
Derivative asset, gross 0   0
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Other Derivative Instruments | Level 2 | Electric Commodity      
Derivatives, Fair Value      
Derivative asset, gross 0   0
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Other Derivative Instruments | Level 3 | Electric Commodity      
Derivatives, Fair Value      
Derivative asset, gross 2   0
Fair Value, Measurements, Nonrecurring | Other Current Assets | PPAs      
Derivatives, Fair Value      
Derivative asset, net [2] 3   3
Fair Value, Measurements, Nonrecurring | Other Noncurrent Assets | PPAs      
Derivatives, Fair Value      
Derivative asset, net [2] 9   9
Fair Value, Measurements, Nonrecurring | Other Current Liabilities | PPAs      
Derivatives, Fair Value      
Derivative liability, net [2] 4   4
Fair Value, Measurements, Nonrecurring | Other Noncurrent Liabilities | PPAs      
Derivatives, Fair Value      
Derivative liability, net [2] $ 8   $ 9
[1] SPS nets derivative instruments and related collateral on its balance sheets when supported by a legally enforceable master netting agreement, and all derivative instruments and related collateral amounts were subject to master netting agreements at March 31, 2021 and Dec. 31, 2020. At March 31, 2021 and Dec. 31, 2020, derivative assets and liabilities include no obligations to return cash collateral or rights to reclaim cash collateral. The counterparty netting excludes settlement receivables and payables and non-derivative amounts that may be subject to the same master netting agreements.
[2] During 2006, SPS qualified these contracts under the normal purchase exception. Based on this qualification, the contracts are no longer adjusted to fair value and the previous carrying value of these contracts will be amortized over the remaining contract lives along with the offsetting regulatory assets and liabilities.