Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2012

Inventory is recorded at actual cost when purchased and then expensed at weighted-average cost as used. Inventory consisted of the following:



(in millions)	June 30, 2012		December 31, 2011
Coal, fuel oil and other raw materials	$	142	$	188
Spare parts, materials and supplies	90		86
Total inventory	$	232	$	274

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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