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Fair Value Measurements (MEC) Fair Value Measurements (MEC) (Tables) (MidAmerican Energy Company [Member])
 3 Months Ended
Mar. 31, 2015
MidAmerican Energy Company [Member]
  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following table presents MidAmerican Energy's assets and liabilities recognized on the Balance Sheets and measured at fair value on a recurring basis (in millions):
 
 
Input Levels for Fair Value Measurements
 
 
 
 
 
 
Level 1
 
Level 2
 
Level 3
 
Other(1)
 
Total
As of March 31, 2015:
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
Commodity derivatives
 
$
—

 
$
13

 
$
15

 
$
(14
)
 
$
14

Money market mutual funds(2)
 
1

 
—

 
—

 
—

 
1

Debt securities:
 
 
 
 
 
 
 
 
 
 
United States government obligations
 
140

 
—

 
—

 
—

 
140

International government obligations
 
—

 
1

 
—

 
—

 
1

Corporate obligations
 
—

 
38

 
—

 
—

 
38

Municipal obligations
 
—

 
2

 
—

 
—

 
2

Agency, asset and mortgage-backed obligations
 
—

 
2

 
—

 
—

 
2

Auction rate securities
 
—

 
—

 
26

 
—

 
26

Equity securities:
 
 
 
 
 
 
 
 
 
 
United States companies
 
241

 
—

 
—

 
—

 
241

International companies
 
5

 
—

 
—

 
—

 
5

Investment funds
 
4

 
—

 
—

 
—

 
4

 
 
$
391

 
$
56

 
$
41

 
$
(14
)
 
$
474

 
 
 
 
 
 
 
 
 
 
 
Liabilities - commodity derivatives
 
$
(17
)
 
$
(55
)
 
$
(6
)
 
$
43

 
$
(35
)
As of December 31, 2014:
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
Commodity derivatives
 
$
1

 
$
18

 
$
24

 
$
(26
)
 
$
17

Money market mutual funds(2)
 
1

 
—

 
—

 
—

 
1

Debt securities:
 
 
 
 
 
 
 
 
 
 
United States government obligations
 
136

 
—

 
—

 
—

 
136

International government obligations
 
—

 
1

 
—

 
—

 
1

Corporate obligations
 
—

 
39

 
—

 
—

 
39

Municipal obligations
 
—

 
2

 
—

 
—

 
2

Agency, asset and mortgage-backed obligations
 
—

 
2

 
—

 
—

 
2

Auction rate securities
 
—

 
—

 
26

 
—

 
26

Equity securities:
 
 
 
 
 
 
 
 
 
 
United States companies
 
238

 
—

 
—

 
—

 
238

International companies
 
5

 
—

 
—

 
—

 
5

 
 
$
381

 
$
62

 
$
50

 
$
(26
)
 
$
467

 
 
 
 
 
 
 
 
 
 
 
Liabilities - commodity derivatives
 
$
(18
)
 
$
(87
)
 
$
(12
)
 
$
73

 
$
(44
)

(1)
Represents netting under master netting arrangements and a net cash collateral receivable of $29 million and $47 million as of March 31, 2015 and December 31, 2014, respectively.
(2)
Amounts are included in cash and cash equivalents and investments and nonregulated property, net on the Balance Sheets. The fair value of these money market mutual funds approximates cost.
Fair Value Assets and Liabilities Net Measured On Recurring Basis Unobservable Input Reconciliation [Table Text Block]
The following table reconciles the beginning and ending balances of MidAmerican Energy's assets and liabilities measured at fair value on a recurring basis using significant Level 3 inputs (in millions):
 
Three-Month Periods
 
Ended March 31,
 
Commodity
Derivatives
 
Auction Rate
Securities
2015:
 
 
 
Beginning balance
$
12

 
$
26

Changes included in earnings(1)
2

 
—

Changes in fair value recognized in OCI
1

 
—

Settlements
(6
)
 
—

Ending balance
$
9

 
$
26

 
 
 
 
2014:
 
 
 
Beginning balance
$
(3
)
 
$
23

Changes included in earnings(1)
(6
)
 
—

Changes in fair value recognized in OCI
3

 
2

Changes in fair value recognized in net regulatory assets
3

 
—

Settlements
1

 
—

Ending balance
$
(2
)
 
$
25


(1)
Changes included in earnings are reported as nonregulated operating revenue on the Statements of Operations. For commodity derivatives held as of March 31, 2015 and 2014, net unrealized gains (losses) included in earnings for the three-month periods ended March 31, 2015 and 2014, totaled $3 million and $(1) million, respectively.
Fair Value, by Balance Sheet Grouping [Table Text Block]
MidAmerican Energy's long-term debt is carried at cost on the Financial Statements. The fair value of MidAmerican Energy's long-term debt is a Level 2 fair value measurement and has been estimated based upon quoted market prices, where available, or at the present value of future cash flows discounted at rates consistent with comparable maturities with similar credit risks. The carrying value of MidAmerican Energy's variable-rate long-term debt approximates fair value because of the frequent repricing of these instruments at market rates. The following table presents the carrying value and estimated fair value of MidAmerican Energy's long-term debt (in millions):
 
As of March 31, 2015
 
As of December 31, 2014
 
Carrying
Value
 
Fair
Value
 
Carrying
Value
 
Fair
Value
 
 
 
 
 
 
 
 
Long-term debt
$
4,060

 
$
4,653

 
$
4,056

 
$
4,581