Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Feb. 18, 2015 | Jun. 30, 2014 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | FALSE | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | BERKSHIRE HATHAWAY ENERGY CO | ||
Entity Central Index Key | 1081316 | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 77,391,144 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $0 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Millions, unless otherwise specified | ||||
Current assets: | ||||
Cash and cash equivalents | $617 | $1,175 | ||
Trade receivables, net | 1,837 | 1,769 | ||
Income taxes receivable | 1,156 | 44 | ||
Inventories | 826 | 853 | ||
Other current assets | 1,507 | 1,061 | ||
Total current assets | 5,943 | 4,902 | ||
Property, plant and equipment, net | 59,248 | 50,119 | ||
Goodwill | 9,343 | 7,527 | ||
Regulatory assets | 4,000 | 3,322 | ||
Investments and restricted cash and investments | 2,803 | 3,236 | ||
Other assets | 967 | 894 | ||
Total assets | 82,304 | 70,000 | ||
Current liabilities: | ||||
Accounts payable | 1,991 | 1,636 | ||
Accrued interest | 454 | 431 | ||
Accrued property, income and other taxes | 366 | 362 | ||
Accrued employee expenses | 255 | 228 | ||
Short-term debt | 1,445 | [1] | 232 | [1] |
Current portion of long-term debt | 1,232 | 1,188 | ||
Other current liabilities | 1,369 | 887 | ||
Total current liabilities | 7,112 | 4,964 | ||
Regulatory liabilities | 2,669 | 2,498 | ||
BHE senior debt | 7,860 | 6,366 | ||
BHE junior subordinated debentures | 3,794 | 2,594 | ||
Subsidiary debt | 25,763 | 21,864 | ||
Deferred income taxes | 11,802 | 10,158 | ||
Other long-term liabilities | 2,731 | 2,740 | ||
Total liabilities | 61,731 | 51,184 | ||
Commitments and contingencies (Note 16) | ||||
BHE shareholders' equity: | ||||
Common stock - 115 shares authorized, no par value, 77 shares issued and outstanding | 0 | 0 | ||
Additional paid-in capital | 6,423 | 6,390 | ||
Retained earnings | 14,513 | 12,418 | ||
Accumulated other comprehensive loss, net | -494 | -97 | ||
Total BHE shareholders' equity | 20,442 | 18,711 | ||
Noncontrolling interests | 131 | 105 | ||
Total equity | 20,573 | 18,816 | ||
Total liabilities and equity | $82,304 | $70,000 | ||
[1] | The above table does not include unused credit facilities and letters of credit for investments that are accounted for under the equity method. |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, except Per Share data, unless otherwise specified | ||
BHE shareholders' equity: | ||
Common stock, par value | $0 | $0 |
Common stock, shares authorized | 115 | 115 |
Common stock, shares issued | 77 | 77 |
Common stock, shares outstanding | 77 | 77 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating revenue: | |||
Energy | $15,182 | $10,826 | $10,236 |
Real estate | 2,144 | 1,809 | 1,312 |
Total operating revenue | 17,326 | 12,635 | 11,548 |
Energy: | |||
Cost of sales | 5,732 | 3,799 | 3,517 |
Operating expense | 3,501 | 2,794 | 2,778 |
Depreciation and amortization | 2,028 | 1,527 | 1,436 |
Real estate | 2,019 | 1,680 | 1,250 |
Total operating costs and expenses | 13,280 | 9,800 | 8,981 |
Operating income | 4,046 | 2,835 | 2,567 |
Other income (expense): | |||
Interest expense | -1,711 | -1,222 | -1,176 |
Capitalized interest | 89 | 84 | 54 |
Allowance for equity funds | 98 | 78 | 74 |
Other, net | 80 | 66 | 56 |
Total other income (expense) | -1,444 | -994 | -992 |
Income before income tax expense and equity income (loss) | 2,602 | 1,841 | 1,575 |
Income tax expense | 589 | 130 | 148 |
Equity income (loss) | 109 | -35 | 68 |
Net income | 2,122 | 1,676 | 1,495 |
Net income attributable to noncontrolling interests | 27 | 40 | 23 |
Net income attributable to BHE shareholders | $2,095 | $1,636 | $1,472 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net income | $2,122 | $1,676 | $1,495 |
Other comprehensive (loss) income, net of tax: | |||
Unrecognized amounts on retirement benefits, net of tax of $19, $7 and $(28) | 69 | 16 | -84 |
Foreign currency translation adjustment | -314 | 74 | 135 |
Unrealized (losses) gains on available-for-sale securities, net of tax of $(84), $178 and $79 | -134 | 263 | 119 |
Unrealized (losses) gains on cash flow hedges, net of tax of $(13), $10 and $5 | -18 | 13 | 8 |
Total other comprehensive (loss) income, net of tax | -397 | 366 | 178 |
Comprehensive income | 1,725 | 2,042 | 1,673 |
Comprehensive income attributable to noncontrolling interests | 27 | 40 | 23 |
Comprehensive income attributable to BHE shareholders | $1,698 | $2,002 | $1,650 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income tax effect - unrecognized amounts on retirement benefits | $19 | $7 | ($28) |
Income tax effect - unrealized (losses) gains on available-for-sale securities | -84 | 178 | 79 |
Income tax effect - unrealized (losses) gains on cash flow hedges | ($13) | $10 | $5 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Equity (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interest [Member] |
In Millions, except Share data, unless otherwise specified | ||||||
Balance at Dec. 31, 2011 | $14,265 | $0 | $5,423 | $9,310 | ($641) | $173 |
Balance (shares) at Dec. 31, 2011 | 75,000,000 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 1,494 | 0 | 0 | 1,472 | 0 | 22 |
Other comprehensive income (loss) | 178 | 0 | 0 | 0 | 178 | 0 |
Distributions | -26 | 0 | 0 | 0 | 0 | -26 |
Other equity transactions | -1 | 0 | 0 | 0 | 0 | -1 |
Balance at Dec. 31, 2012 | 15,910 | 0 | 5,423 | 10,782 | -463 | 168 |
Balance (shares) at Dec. 31, 2012 | 75,000,000 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 1,660 | 0 | 0 | 1,636 | 0 | 24 |
Other comprehensive income (loss) | 366 | 0 | 0 | 0 | 366 | 0 |
Distributions | -22 | 0 | 0 | 0 | 0 | -22 |
Redemption of preferred securities of subsidiaries | -68 | 0 | 0 | 0 | 0 | -68 |
Common stock issuances (shares) | 2,000,000 | |||||
Common stock issuances | 1,000 | 0 | 1,000 | 0 | 0 | 0 |
Other equity transactions | -30 | 0 | -33 | 0 | 0 | 3 |
Balance at Dec. 31, 2013 | 18,816 | 0 | 6,390 | 12,418 | -97 | 105 |
Balance (shares) at Dec. 31, 2013 | 77,000,000 | 77,000,000 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 2,112 | 0 | 0 | 2,095 | 0 | 17 |
Other comprehensive income (loss) | -397 | 0 | 0 | 0 | -397 | 0 |
Distributions | -22 | 0 | 0 | 0 | 0 | -22 |
Other equity transactions | 64 | 0 | 33 | 0 | 0 | 31 |
Balance at Dec. 31, 2014 | $20,573 | $0 | $6,423 | $14,513 | ($494) | $131 |
Balance (shares) at Dec. 31, 2014 | 77,000,000 | 77,000,000 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities: | |||
Net income | $2,122 | $1,676 | $1,495 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Depreciation and amortization | 2,057 | 1,560 | 1,455 |
Allowance for equity funds | -98 | -78 | -74 |
Equity (income) loss | -109 | 35 | -68 |
Changes in regulatory assets and liabilities | -168 | -6 | 9 |
Deferred income taxes and amortization of investment tax credits | 2,335 | 996 | 1,408 |
Other, net | 177 | 37 | 62 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | -44 | 75 | -122 |
Derivative collateral, net | -70 | 48 | 72 |
Pension and other postretirement benefit plans | 86 | -42 | -110 |
Accrued property, income and other taxes | -1,117 | 189 | 92 |
Accounts payable and other liabilities | -25 | 179 | 108 |
Net cash flows from operating activities | 5,146 | 4,669 | 4,327 |
Cash flows from investing activities: | |||
Capital expenditures | -6,555 | -4,307 | -3,380 |
Acquisitions, net of cash acquired | -2,956 | -5,536 | -591 |
Decrease (increase) in restricted cash and investments | 173 | -234 | -18 |
Purchases of available-for-sale securities | -150 | -228 | -110 |
Proceeds from sales of available-for-sale securities | 118 | 191 | 88 |
Equity method investments | -37 | -93 | -363 |
Other, net | -11 | 13 | 53 |
Net cash flows from investing activities | -9,418 | -10,194 | -4,321 |
Cash flows from financing activities: | |||
Proceeds from BHE senior debt | 1,493 | 1,994 | 0 |
Proceeds from BHE junior subordinated debentures | 1,500 | 2,594 | 0 |
Proceeds from issuance of BHE common stock | 0 | 1,000 | 0 |
Repayments of BHE senior and subordinated debt | -550 | 0 | -772 |
Proceeds from subsidiary debt | 1,272 | 2,496 | 2,199 |
Repayments of subsidiary debt | -971 | -1,156 | -887 |
Net proceeds from (repayments of) short-term debt | 1,055 | -849 | -6 |
Other, net | -74 | -153 | -57 |
Net cash flows from financing activities | 3,725 | 5,926 | 477 |
Effect of exchange rate changes | -11 | -2 | 7 |
Net change in cash and cash equivalents | -558 | 399 | 490 |
Cash and cash equivalents at beginning of period | 1,175 | 776 | 286 |
Cash and cash equivalents at end of period | $617 | $1,175 | $776 |
Schedule_I_Condensed_Balance_S
Schedule I Condensed Balance Sheets (Paranthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, except Per Share data, unless otherwise specified | ||
Condensed Financial Statements, Captions [Line Items] | ||
Common stock, par value | $0 | $0 |
Common stock, shares authorized | 115 | 115 |
Common stock, shares issued | 77 | 77 |
Common stock, shares outstanding | 77 | 77 |
Parent [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Common stock, par value | $0 | $0 |
Common stock, shares authorized | 115 | 115 |
Common stock, shares issued | 77 | 77 |
Common stock, shares outstanding | 77 | 77 |
Organization_and_Operations_No
Organization and Operations (Notes) | 12 Months Ended | |
Dec. 31, 2014 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Organization and Operations [Text Block] | ||
-1 | Organization and Operations | |
Berkshire Hathaway Energy Company ("BHE") is a holding company that owns subsidiaries principally engaged in energy businesses (collectively with its subsidiaries, the "Company"). BHE is a consolidated subsidiary of Berkshire Hathaway Inc. ("Berkshire Hathaway"). | ||
The Company's operations are organized and managed as eight business segments: PacifiCorp, MidAmerican Funding, LLC ("MidAmerican Funding") (which primarily consists of MidAmerican Energy Company ("MidAmerican Energy")), NV Energy, Inc. ("NV Energy") (which primarily consists of Nevada Power Company ("Nevada Power") and Sierra Pacific Power Company ("Sierra Pacific")), Northern Powergrid Holdings Company ("Northern Powergrid") (which primarily consists of Northern Powergrid (Northeast) Limited and Northern Powergrid (Yorkshire) plc), BHE Pipeline Group (which consists of Northern Natural Gas Company ("Northern Natural Gas") and Kern River Gas Transmission Company ("Kern River")), BHE Transmission (which consists of BHE AltaLink Ltd. ("AltaLink") (which primarily consists of AltaLink, L.P. ("ALP")) and BHE U.S. Transmission, LLC (formerly MidAmerican Transmission, LLC)), BHE Renewables (formerly MidAmerican Renewables) and HomeServices of America, Inc. (collectively with its subsidiaries, "HomeServices"). The Company, through these businesses, owns four utility companies in the United States serving customers in 11 states, two electricity distribution companies in Great Britain, two interstate natural gas pipeline companies in the United States, an electric transmission business in Canada, interests in electric transmission businesses in the United States, a renewable energy business primarily selling power generated from solar, wind, geothermal and hydro sources under long-term contracts, the second largest residential real estate brokerage firm in the United States and the second largest residential real estate brokerage franchise network in the United States. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies (Notes) | 12 Months Ended | |
Dec. 31, 2014 | ||
Accounting Policies [Abstract] | ||
Summary of Significant Accounting Policies [Text Block] | ||
-2 | Summary of Significant Accounting Policies | |
Basis of Consolidation and Presentation | ||
The Consolidated Financial Statements include the accounts of BHE and its subsidiaries in which it holds a controlling financial interest as of the financial statement date. The Consolidated Statements of Operations include the revenue and expenses of any acquired entities from the date of acquisition. Intercompany accounts and transactions have been eliminated. | ||
Use of Estimates in Preparation of Financial Statements | ||
The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. These estimates include, but are not limited to, the effects of regulation; impairment of goodwill; recovery of long-lived assets; certain assumptions made in accounting for pension and other postretirement benefits; asset retirement obligations ("AROs"); income taxes; unbilled revenue; fair value of assets acquired and liabilities assumed in business combinations; valuation of certain financial assets and liabilities, including derivative contracts; and accounting for contingencies. Actual results may differ from the estimates used in preparing the Consolidated Financial Statements. | ||
Accounting for the Effects of Certain Types of Regulation | ||
PacifiCorp, MidAmerican Energy, Nevada Power, Sierra Pacific, Northern Natural Gas, Kern River and AltaLink (the "Regulated Businesses") prepare their financial statements in accordance with authoritative guidance for regulated operations, which recognizes the economic effects of regulation. Accordingly, the Regulated Businesses defer the recognition of certain costs or income if it is probable that, through the ratemaking process, there will be a corresponding increase or decrease in future regulated rates. Regulatory assets and liabilities are established to reflect the impacts of these deferrals, which will be recognized in earnings in the periods the corresponding changes in regulated rates occur. | ||
The Company continually evaluates the applicability of the guidance for regulated operations and whether its regulatory assets and liabilities are probable of inclusion in future regulated rates by considering factors such as a change in the regulator's approach to setting rates from cost-based ratemaking to another form of regulation, other regulatory actions or the impact of competition that could limit the Regulated Businesses' ability to recover their costs. The Company believes the application of the guidance for regulated operations is appropriate and its existing regulatory assets and liabilities are probable of inclusion in future regulated rates. The evaluation reflects the current political and regulatory climate at both the federal, state and provincial levels. If it becomes no longer probable that the deferred costs or income will be included in future regulated rates, the related regulatory assets and liabilities will be written off to net income, returned to customers or re-established as accumulated other comprehensive income (loss) ("AOCI"). | ||
Fair Value Measurements | ||
As defined under GAAP, fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in the principal market or in the most advantageous market when no principal market exists. Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in order to estimate fair value. Different valuation techniques may be appropriate under the circumstances to determine the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction. Market participants are assumed to be independent, knowledgeable, able and willing to transact an exchange and not under duress. Nonperformance or credit risk is considered in determining fair value. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange. | ||
Cash Equivalents and Restricted Cash and Investments | ||
Cash equivalents consist of funds invested in money market mutual funds, United States Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted amounts are included in other current assets and investments and restricted cash and investments on the Consolidated Balance Sheets. | ||
Investments | ||
The Company's management determines the appropriate classification of investments in debt and equity securities at the acquisition date and reevaluates the classification at each balance sheet date. Investments and restricted cash and investments that management does not intend to use or is restricted from using in current operations are presented as noncurrent on the Consolidated Balance Sheets. | ||
Available-for-sale securities are carried at fair value with realized gains and losses, as determined on a specific identification basis, recognized in earnings and unrealized gains and losses recognized in AOCI, net of tax. Realized and unrealized gains and losses on securities in a trust related to the decommissioning of nuclear generation assets are recorded as a net regulatory liability since the Company expects to recover costs for these activities through regulated rates. Trading securities are carried at fair value with realized and unrealized gains and losses recognized in earnings. Held-to-maturity securities are carried at amortized cost, reflecting the ability and intent to hold the securities to maturity. | ||
The Company utilizes the equity method of accounting with respect to investments when it possesses the ability to exercise significant influence, but not control, over the operating and financial policies of the investee. The ability to exercise significant influence is presumed when an investor possesses more than 20% of the voting interests of the investee. This presumption may be overcome based on specific facts and circumstances that demonstrate the ability to exercise significant influence is restricted. In applying the equity method, the Company records the investment at cost and subsequently increases or decreases the carrying value of the investment by the Company's proportionate share of the net earnings or losses and other comprehensive income (loss) ("OCI") of the investee. The Company records dividends or other equity distributions as reductions in the carrying value of the investment. Certain equity investments are presented on the Consolidated Balance Sheets net of related investment tax credits. | ||
Investments gains and losses arise when investments are sold (as determined on a specific identification basis) or are other-than-temporarily impaired. If a decline in value of an investment below cost is deemed other than temporary, the cost of the investment is written down to fair value, with a corresponding charge to earnings. Factors considered in judging whether an impairment is other than temporary include: the financial condition, business prospects and creditworthiness of the issuer; the relative amount of the decline; the Company's ability and intent to hold the investment until the fair value recovers; and the length of time that fair value has been less than cost. Impairment losses on equity securities are charged to earnings. With respect to an investment in a debt security, any resulting impairment loss is recognized in earnings if the Company intends to sell, or expects to be required to sell, the debt security before its amortized cost is recovered. If the Company does not expect to ultimately recover the amortized cost basis even if it does not intend to sell the security, the credit loss component is recognized in earnings and any difference between fair value and the amortized cost basis, net of the credit loss, is reflected in OCI. For regulated investments, any impairment charge is offset by the establishment of a regulatory asset to the extent recovery in regulated rates is probable. | ||
Allowance for Doubtful Accounts | ||
Trade receivables are stated at the outstanding principal amount, net of an estimated allowance for doubtful accounts. The allowance for doubtful accounts is based on the Company's assessment of the collectibility of amounts owed to the Company by its customers. This assessment requires judgment regarding the ability of customers to pay or the outcome of any pending disputes. As of December 31, 2014 and 2013, the allowance for doubtful accounts totaled $37 million and $33 million, respectively, and is included in trade receivables, net on the Consolidated Balance Sheets. | ||
Derivatives | ||
The Company employs a number of different derivative contracts, which may include forwards, futures, options, swaps and other agreements, to manage its commodity price, interest rate, and foreign currency exchange rate risk. Derivative contracts are recorded on the Consolidated Balance Sheets as either assets or liabilities and are stated at estimated fair value unless they are designated as normal purchases or normal sales and qualify for the exception afforded by GAAP. Derivative balances reflect offsetting permitted under master netting agreements with counterparties and cash collateral paid or received under such agreements. Cash collateral received from or paid to counterparties to secure derivative contract assets or liabilities in excess of amounts offset is included in other current assets on the Consolidated Balance Sheets. | ||
Commodity derivatives used in normal business operations that are settled by physical delivery, among other criteria, are eligible for and may be designated as normal purchases or normal sales. Normal purchases or normal sales contracts are not marked-to-market and settled amounts are recognized as operating revenue or cost of sales on the Consolidated Statements of Operations. | ||
For the Company's derivatives not designated as hedging contracts, the settled amount is generally included in regulated rates. Accordingly, the net unrealized gains and losses associated with interim price movements on contracts that are accounted for as derivatives and probable of inclusion in regulated rates are recorded as regulatory assets and liabilities. For the Company's derivatives not designated as hedging contracts and for which changes in fair value are not recorded as regulatory assets and liabilities, unrealized gains and losses are recognized on the Consolidated Statements of Operations as operating revenue for sales contracts; cost of sales and operating expense for purchase contracts and electricity, natural gas and fuel swap contracts; and other, net for interest rate swap derivatives. | ||
For the Company's derivatives designated as hedging contracts, the Company formally assesses, at inception and thereafter, whether the hedging contract is highly effective in offsetting changes in the hedged item. The Company formally documents hedging activity by transaction type and risk management strategy. | ||
Changes in the estimated fair value of a derivative contract designated and qualified as a cash flow hedge, to the extent effective, are included on the Consolidated Statements of Changes in Equity as AOCI, net of tax, until the contract settles and the hedged item is recognized in earnings. The Company discontinues hedge accounting prospectively when it has determined that a derivative contract no longer qualifies as an effective hedge, or when it is no longer probable that the hedged forecasted transaction will occur. When hedge accounting is discontinued because the derivative contract no longer qualifies as an effective hedge, future changes in the estimated fair value of the derivative contract are charged to earnings. Gains and losses related to discontinued hedges that were previously recorded in AOCI will remain in AOCI until the contract settles and the hedged item is recognized in earnings, unless it becomes probable that the hedged forecasted transaction will not occur at which time associated deferred amounts in AOCI are immediately recognized in earnings. | ||
Inventories | ||
Inventories consist mainly of fuel, which includes coal stocks, stored gas and fuel oil, totaling $320 million and $407 million as of December 31, 2014 and 2013, respectively, and materials and supplies totaling $506 million and $446 million as of December 31, 2014 and 2013, respectively. The cost of materials and supplies, coal stocks and fuel oil is determined primarily using the average cost method. The cost of stored gas is determined using either the last-in-first-out ("LIFO") method or the lower of average cost or market. With respect to inventories carried at LIFO cost, the replacement cost would be $41 million and $36 million higher as of December 31, 2014 and 2013, respectively. | ||
Property, Plant and Equipment, Net | ||
General | ||
Additions to property, plant and equipment are recorded at cost. The Company capitalizes all construction-related material, direct labor and contract services, as well as indirect construction costs. Indirect construction costs include capitalized interest, including debt allowance for funds used during construction ("AFUDC"), and equity AFUDC, as applicable to the Regulated Businesses. The cost of additions and betterments are capitalized, while costs incurred that do not improve or extend the useful lives of the related assets are generally expensed. Additionally, MidAmerican Energy has regulatory arrangements in Iowa in which the carrying cost of certain utility plant has been reduced for amounts associated with electric returns on equity exceeding specified thresholds. | ||
Depreciation and amortization are generally computed by applying the composite or straight-line method based on either estimated useful lives or mandated recovery periods as prescribed by the Company's various regulatory authorities. Depreciation studies are completed by the Regulated Businesses to determine the appropriate group lives, net salvage and group depreciation rates. These studies are reviewed and rates are ultimately approved by the applicable regulatory commission. Net salvage includes the estimated future residual values of the assets and any estimated removal costs recovered through approved depreciation rates. Estimated removal costs are recorded as either a cost of removal regulatory liability or an ARO liability on the Consolidated Balance Sheets, depending on whether the obligation meets the requirements of an ARO. As actual removal costs are incurred, the associated liability is reduced. | ||
Generally when the Company retires or sells a component of regulated property, plant and equipment, it charges the original cost, net of any proceeds from the disposition, to accumulated depreciation. Any gain or loss on disposals of all other assets is recorded through earnings. | ||
Debt and equity AFUDC, which represent the estimated costs of debt and equity funds necessary to finance the construction of regulated facilities, is capitalized by the Regulated Businesses as a component of property, plant and equipment, with offsetting credits to the Consolidated Statements of Operations. AFUDC is computed based on guidelines set forth by the Federal Energy Regulatory Commission ("FERC") and the Alberta Utilities Commission ("AUC"). After construction is completed, the Company is permitted to earn a return on these costs as a component of the related assets, as well as recover these costs through depreciation expense over the useful lives of the related assets. | ||
Asset Retirement Obligations | ||
The Company recognizes AROs when it has a legal obligation to perform decommissioning, reclamation or removal activities upon retirement of an asset. The Company's AROs are primarily related to the decommissioning of nuclear generating facilities and obligations associated with its other generating facilities and offshore natural gas pipelines. The fair value of an ARO liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made, and is added to the carrying amount of the associated asset, which is then depreciated over the remaining useful life of the asset. Subsequent to the initial recognition, the ARO liability is adjusted for any revisions to the original estimate of undiscounted cash flows (with corresponding adjustments to property, plant and equipment, net) and for accretion of the ARO liability due to the passage of time. For the Regulated Businesses, the difference between the ARO liability, the corresponding ARO asset included in property, plant and equipment, net and amounts recovered in rates to satisfy such liabilities is recorded as a regulatory asset or liability. | ||
Impairment | ||
The Company evaluates long-lived assets for impairment, including property, plant and equipment, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or the assets are being held for sale. Upon the occurrence of a triggering event, the asset is reviewed to assess whether the estimated undiscounted cash flows expected from the use of the asset plus the residual value from the ultimate disposal exceeds the carrying value of the asset. If the carrying value exceeds the estimated recoverable amounts, the asset is written down to the estimated fair value and any resulting impairment loss is reflected on the Consolidated Statements of Operations. The impacts of regulation are considered when evaluating the carrying value of regulated assets. | ||
Goodwill | ||
Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations. The Company evaluates goodwill for impairment at least annually and completed its annual review as of October 31. When evaluating goodwill for impairment, the Company estimates the fair value of the reporting unit. If the carrying amount of a reporting unit, including goodwill, exceeds the estimated fair value, then the identifiable assets, including identifiable intangible assets, and liabilities of the reporting unit are estimated at fair value as of the current testing date. The excess of the estimated fair value of the reporting unit over the current estimated fair value of net assets establishes the implied value of goodwill. The excess of the recorded goodwill over the implied goodwill value is charged to earnings as an impairment loss. Significant judgment is required in estimating the fair value of the reporting unit and performing goodwill impairment tests. The Company uses a variety of methods to estimate a reporting unit's fair value, principally discounted projected future net cash flows. Key assumptions used include, but are not limited to, the use of estimated future cash flows; multiples of earnings; and an appropriate discount rate. In estimating future cash flows, the Company incorporates current market information, as well as historical factors. As such, the determination of fair value incorporates significant unobservable inputs. During 2014 and 2012, the Company did not record any goodwill impairments. The Company recognized a goodwill impairment of $53 million during 2013. | ||
The Company records goodwill adjustments for (a) the tax benefit associated with the excess of tax-deductible goodwill over the reported amount of goodwill and (b) changes to the purchase price allocation prior to the end of the measurement period, which is not to exceed one year from the acquisition date. | ||
Revenue Recognition | ||
Energy Businesses | ||
Revenue from energy business customers is recognized as electricity or natural gas is delivered or services are provided. Revenue recognized includes billed and unbilled amounts. As of December 31, 2014 and 2013, unbilled revenue was $666 million and $686 million, respectively, and is included in trade receivables, net on the Consolidated Balance Sheets. Rates for energy businesses are established by regulators or contractual arrangements. When preliminary regulated rates are permitted to be billed prior to final approval by the applicable regulator, certain revenue collected may be subject to refund and a liability for estimated refunds is accrued. The Company records sales, franchise and excise taxes collected directly from customers and remitted directly to the taxing authorities on a net basis on the Consolidated Statements of Operations. | ||
Real Estate Commission Revenue, Mortgage Revenue and Franchise Royalty Fees | ||
Commission revenue from real estate brokerage transactions and related amounts due to agents are recognized when a real estate transaction is closed. Title and escrow closing fee revenue from real estate transactions and related amounts due to the title insurer are recognized at closing. Mortgage fee revenue consists of amounts earned related to application and underwriting fees, and fees on canceled loans. Fees associated with the origination and acquisition of mortgage loans are recognized as earned. Franchise royalty fees are based on a percentage of commissions earned by franchisees on real estate sales and are recognized when the sale closes. | ||
Unamortized Debt Premiums, Discounts and Financing Costs | ||
Premiums, discounts and financing costs incurred for the issuance of long-term debt are amortized over the term of the related financing using the effective interest method. | ||
Foreign Currency | ||
The accounts of foreign-based subsidiaries are measured in most instances using the local currency of the subsidiary as the functional currency. Revenue and expenses of these businesses are translated into United States dollars at the average exchange rate for the period. Assets and liabilities are translated at the exchange rate as of the end of the reporting period. Gains or losses from translating the financial statements of foreign-based operations are included in equity as a component of AOCI. Gains or losses arising from transactions denominated in a currency other than the functional currency of the entity that is party to the transaction are included in earnings. | ||
Income Taxes | ||
Berkshire Hathaway includes the Company in its United States federal income tax return. The Company's provision for income taxes has been computed on a stand-alone basis. | ||
Deferred income tax assets and liabilities are based on differences between the financial statement and income tax basis of assets and liabilities using estimated income tax rates expected to be in effect for the year in which the differences are expected to reverse. Changes in deferred income tax assets and liabilities that are associated with components of OCI are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities that are associated with income tax benefits and expense for certain property-related basis differences and other various differences that PacifiCorp, MidAmerican Energy, Nevada Power and Sierra Pacific (the "Utilities") are required to pass on to their customers in most state jurisdictions are charged or credited directly to a regulatory asset or liability. As of December 31, 2014 and 2013, these amounts were recognized as regulatory assets of $1.4 billion and $1.4 billion, respectively, and regulatory liabilities of $24 million and $34 million, respectively, and will be included in regulated rates when the temporary differences reverse. Other changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted income tax rates are charged or credited to income tax expense or a regulatory asset or liability in the period of enactment. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount that is more-likely-than-not to be realized. Investment tax credits are generally deferred and amortized over the estimated useful lives of the related properties or as prescribed by various regulatory jurisdictions. | ||
The Company has not established deferred income taxes on the undistributed foreign earnings of Northern Powergrid or AltaLink or the related currency translation adjustment that have been determined by management to be reinvested indefinitely. The cumulative undistributed foreign earnings were approximately $3.1 billion as of December 31, 2014. The Company periodically evaluates its capital requirements. If circumstances change in the future and a portion of Northern Powergrid's or AltaLink's undistributed earnings were repatriated, the dividends would be subject to taxation in the United States. However, any United States income tax liability would be offset, in part, by available United States income tax credits with respect to corporate income taxes previously paid principally in the United Kingdom. Because of the availability of foreign income tax credits, it is not practicable to determine the United States income tax liability that would be recognized if such cumulative earnings were not reinvested indefinitely. The Company has established deferred income taxes on all other undistributed foreign earnings. If opportunities become available to repatriate cash without triggering incremental United States income tax expense, the Company may distribute certain foreign earnings of Northern Powergrid. | ||
In determining the Company's income taxes, management is required to interpret complex income tax laws and regulations, which includes consideration of regulatory implications imposed by the Company's various regulatory jurisdictions. The Company's income tax returns are subject to continuous examinations by federal, state, local and foreign income tax authorities that may give rise to different interpretations of these complex laws and regulations. Due to the nature of the examination process, it generally takes years before these examinations are completed and these matters are resolved. The Company recognizes the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Consolidated Financial Statements from such a position are measured based on the largest benefit that is more-likely-than-not to be realized upon ultimate settlement. Although the ultimate resolution of the Company's federal, state, local and foreign income tax examinations is uncertain, the Company believes it has made adequate provisions for these income tax positions. The aggregate amount of any additional income tax liabilities that may result from these examinations, if any, is not expected to have a material impact on the Company's consolidated financial results. The Company's unrecognized tax benefits are primarily included in accrued property, income and other taxes and other long-term liabilities on the Consolidated Balance Sheets. Estimated interest and penalties, if any, related to uncertain tax positions are included as a component of income tax expense on the Consolidated Statements of Operations. | ||
New Accounting Pronouncements | ||
In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, which creates FASB Accounting Standards Codification ("ASC") Topic 606, "Revenue from Contracts with Customers" and supersedes ASC Topic 605, "Revenue Recognition." The guidance replaces industry-specific guidance and establishes a single five-step model to identify and recognize revenue. The core principle of the guidance is that an entity should recognize revenue upon transfer of control of promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. Additionally, the guidance requires the entity to disclose further quantitative and qualitative information regarding the nature and amount of revenues arising from contracts with customers, as well as other information about the significant judgments and estimates used in recognizing revenues from contracts with customers. This guidance is effective for interim and annual reporting periods beginning after December 15, 2016. Early application is not permitted. This guidance may be adopted retrospectively or under a modified retrospective method where the cumulative effect is recognized at the date of initial application. The Company is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. | ||
In January 2014, the FASB issued ASU No. 2014-05, which amends FASB ASC Topic 853, "Service Concession Arrangements". The amendments in this guidance require an entity to not account for service concession arrangements as a lease and should also not recognize them as property, plant and equipment. This guidance is effective for interim and annual reporting periods beginning after December 15, 2014. This guidance should be adopted under a modified retrospective method where the cumulative effect is recognized at the date of initial application. The Company does not believe the adoption of this guidance will have a material impact on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. | ||
In February 2013, the FASB issued ASU No. 2013-04, which amends FASB ASC Topic 405, "Liabilities." The amendments in this guidance require an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date as the amount the reporting entity agreed to pay plus any additional amounts the reporting entity expects to pay on behalf of its co-obligor. Additionally, the guidance requires the entity to disclose the nature and amount of the obligation, as well as other information about those obligations. The Company adopted this guidance on January 1, 2014. The adoption of this guidance did not have a material impact on the Company's disclosures included within Notes to Consolidated Financial Statements. |
Business_Acquisitions_Notes
Business Acquisitions (Notes) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Business Combinations [Abstract] | ||||||||
Business Acquisitions [Text Block] | (3) Business Acquisitions | |||||||
BHE owns a highly diversified portfolio of businesses comprised primarily of regulated utilities. Consistent with BHE's strategy to grow and further diversify through a disciplined acquisition approach, the Company closed on several acquisitions during 2014 and 2013. | ||||||||
AltaLink | ||||||||
Transaction Description | ||||||||
On December 1, 2014, BHE completed its acquisition of AltaLink and AltaLink became an indirect wholly owned subsidiary of BHE. Under the terms of the Share Purchase Agreement, dated May 1, 2014, among BHE and SNC-Lavalin Group Inc., BHE paid C$3.1 billion (US$2.7 billion) in cash to SNC-Lavalin Group Inc. ("SNC-Lavalin") for 100% of the equity interests of AltaLink. BHE funded the total purchase price with $1.5 billion of junior subordinated debentures issued and sold to subsidiaries of Berkshire Hathaway, $1.0 billion borrowed under its commercial paper program and cash on hand. | ||||||||
ALP is a regulated electric transmission business, headquartered in Calgary, Alberta. ALP owns 7,800 miles of transmission lines and 300 substations in Alberta and operates under a cost-of-service regulatory model, including a forward test year, overseen by the AUC. | ||||||||
The transaction was approved by both the SNC-Lavalin and BHE boards of directors in May 2014. In June 2014, an Advance Ruling Certificate was received from the Commissioner of Competition, providing clearance for the AltaLink acquisition. In July 2014, the Canadian Minister of Industry approved the transaction under the Investment Canada Act, determining that the AltaLink transaction constitutes a net benefit to Canada. In November 2014, approval by the Alberta Utilities Commission ("AUC") was received. In connection with the approval of the transaction under the Investment Canada Act, various commitments were made to the Canadian Minister of Industry. The commitments included, among others: | ||||||||
• | AltaLink will remain locally managed and incorporated under the laws of Canada, with its headquarters, senior management team and operations located in Alberta. | |||||||
• | AltaLink's independent board of directors will continue to be comprised of a majority of Canadians. | |||||||
• | There will be no reductions in employment levels at AltaLink as a result of the transaction. | |||||||
• | Reinvest 100% of AltaLink’s earnings back into AltaLink, elsewhere in Alberta or other regions of Canada for five years. This commitment will support AltaLink’s C$2.7 billion investment in Alberta's energy infrastructure planned over the next three years, subject to continued oversight by the AUC and the Alberta Electric System Operator. | |||||||
• | Spend at least C$27 million to pursue joint development opportunities with Canadian partners in Canada and the United States. | |||||||
• | Invest at least C$3 million of new funds to support Alberta-based academic programs focused on energy-related topics, cultural organizations and community-based programs. | |||||||
• | Maintain AltaLink's commitment to provide C$3 million over three years in community and charitable contributions across Alberta. | |||||||
• | Share best practices with AltaLink on safety, customer satisfaction, cybersecurity and supplier diversity at no cost. | |||||||
• | Provide opportunities for Albertan and other Canadian companies to supply products and services to other BHE businesses. | |||||||
Included in BHE's Consolidated Statement of Operations within the BHE Transmission reportable segment for the year ended December 31, 2014 is $13 million of net income as a result of including AltaLink's revenue and expenses from December 1, 2014. Additionally, BHE incurred $3 million of direct transaction costs associated with the AltaLink Transaction that are included in operating expense on the Consolidated Statement of Operations for the year ended December 31, 2014. | ||||||||
Allocation of Purchase Price | ||||||||
The operations of ALP are subject to the rate-setting authority of the AUC and are accounted for pursuant to GAAP, including the authoritative guidance for regulated operations. The rate-setting and cost recovery provisions establish rates on a cost-of-service basis designed to allow AltaLink an opportunity to recover its costs of providing service and a return on its investment in rate base. Except for certain assets not currently in rates, the fair value of AltaLink's assets acquired and liabilities assumed subject to these rate-setting provisions are assumed to approximate their carrying values and, therefore, no fair value adjustments have been reflected related to these amounts. | ||||||||
The fair value of AltaLink's assets acquired and liabilities assumed not subject to the rate-setting provisions discussed above was determined using an income approach. This approach is based on significant estimates and assumptions, including Level 3 inputs, which are judgmental in nature. The estimates and assumptions include the projected timing and amount of future cash flows, discount rates reflecting the risk inherent in the future cash flows and future market prices. The fair value of certain contracts, deferred tax amounts and certain contingencies, among other items, are provisional and are subject to revision for up to 12 months following the acquisition date until the related valuations are completed. These items may be adjusted through regulatory assets or liabilities, to the extent recoverable in rates, or goodwill provided additional information is obtained about the facts and circumstances that existed as of the acquisition date. Such information includes, but is not limited to, further information regarding the fair value of the contracts and the resolution of contingency related items. | ||||||||
AltaLink's non-regulated assets acquired and liabilities assumed consist principally of AltaLink Investments, L.P.'s and AltaLink Holdings, L.P.'s senior bonds and debentures. The fair value of these liabilities was determined based on quoted market prices. | ||||||||
The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date (in millions): | ||||||||
Fair Value | ||||||||
Current assets, including cash and cash equivalents of $15 | $ | 174 | ||||||
Property, plant and equipment | 5,610 | |||||||
Goodwill | 1,700 | |||||||
Other long-term assets | 120 | |||||||
Total assets | 7,604 | |||||||
Current liabilities, including current portion of long-term debt of $79 | 843 | |||||||
Subsidiary debt, less current portion | 3,772 | |||||||
Deferred income taxes | 79 | |||||||
Other long-term liabilities | 182 | |||||||
Total liabilities | 4,876 | |||||||
Net assets acquired | $ | 2,728 | ||||||
Goodwill | ||||||||
The excess of the purchase price paid over the estimated fair values of the identifiable assets acquired and liabilities assumed totaled $1.7 billion and is reflected as goodwill in the BHE Transmission reportable segment. The goodwill reflects the value for the opportunities to invest in Alberta's electric transmission infrastructure and to develop solutions to meet the long-term energy needs of Alberta. Goodwill is not amortized, but rather is reviewed annually for impairment or more frequently if indicators of impairment exist. None of the goodwill recognized is deductible for income tax purposes, and no deferred income taxes have been recorded related to the goodwill. | ||||||||
Pro Forma Financial Information | ||||||||
The following unaudited pro forma financial information reflects the consolidated results of operations of BHE, non-recurring transaction costs incurred by both BHE and AltaLink during 2014 and the amortization of the purchase price adjustments each assuming the acquisition had taken place on January 1, 2013 (in millions): | ||||||||
2014 | 2013 | |||||||
Operating revenue | $ | 17,888 | $ | 13,130 | ||||
Net income attributable to BHE shareholders | $ | 2,155 | $ | 1,667 | ||||
The unaudited pro forma financial information has been presented for illustrative purposes only and is not necessarily indicative of the consolidated results of operations that would have been achieved or the future consolidated results of operations of BHE. The information is provisional in nature and subject to change based on final purchase accounting adjustments. | ||||||||
NV Energy, Inc. | ||||||||
Transaction Description | ||||||||
On December 19, 2013, BHE completed the merger contemplated by the Agreement and Plan of Merger dated May 29, 2013, among BHE, Silver Merger Sub, Inc. ("Merger Sub"), BHE's wholly-owned subsidiary, and NV Energy, Inc. ("NV Energy"), whereby Merger Sub was merged into NV Energy and NV Energy became an indirect wholly-owned subsidiary of BHE ("NV Energy Transaction"). BHE funded the total purchase price of $5.6 billion, or $23.75 per share for 100% of NV Energy’s outstanding common stock, by issuing $1.0 billion of common stock on December 19, 2013, issuing $2.6 billion of junior subordinated debentures to certain Berkshire Hathaway subsidiaries on December 19, 2013, and using $2.0 billion of cash, including certain proceeds from BHE's $2.0 billion senior debt issuance on November 8, 2013. | ||||||||
NV Energy owns two regulated public utilities, Nevada Power and Sierra Pacific (together, the "Nevada Utilities"), that provide electric service to 1.2 million regulated retail electric customers and 0.2 million regulated retail natural gas customers in Nevada. | ||||||||
The transaction was approved by the boards of directors of both NV Energy and BHE and the shareholders of NV Energy and received various regulatory approvals, including from the Public Utilities Commission of Nevada ("PUCN"), subject to certain stipulations. The stipulations included, among others: | ||||||||
• | A one-time bill credit to retail customers of the Nevada Utilities totaling $20 million credited to retail customers over one billing cycle beginning within 30 days of the close of the NV Energy Transaction. | |||||||
• | BHE and NV Energy agreed to not seek recovery of the acquisition premium, transaction and transition costs associated with the NV Energy Transaction from customers. | |||||||
• | NV Energy agreed that it will base any rate case filed in 2014 with a requested change in revenue requirement on a return on common equity not to exceed 10%. | |||||||
• | The Nevada Utilities will not seek to collect lost revenues as described in section 704.9524 of the Nevada Administrative Code in 2014, and will not seek collection of lost revenues in excess of 50% of what the Nevada Utilities could otherwise request in 2015. NV Energy also agreed to work cooperatively with PUCN staff and the Nevada Bureau of Consumer Protection ("BCP") to develop a legislative or administrative alternative to the current mechanism that would retain the objective of encouraging investment in energy efficiency and that is acceptable to NV Energy, PUCN staff and the BCP. NV Energy and the BCP also agree to work in good faith to have a legislative or administrative alternative adopted. | |||||||
• | Normal rate case rules and procedures apply to costs and revenues, and any under or over earnings will accrue to the Nevada Utilities until the next rate case filing after 2014, subject to specified adjustments for intercompany charges from BHE and its other subsidiaries as described in the PUCN Joint Application and the exclusion of the $20 million one-time bill credit from the test period. The commitment does not preclude parties from proposing any other adjustments to test year or certification period results. | |||||||
Included in BHE's Consolidated Statement of Operations within the NV Energy reportable segment for the year ended December 31, 2013 are costs totaling $38 million, consisting of $22 million for amounts payable under NV Energy's change in control policy and $16 million for donations to NV Energy's charitable foundation, and, as a result of the PUCN stipulations discussed above, a $20 million one-time bill credit to retail customers included as a reduction to operating revenue. Additionally, BHE incurred $5 million of direct transaction costs associated with the NV Energy Transaction that are included in operating expense on the Consolidated Statement of Operations for the year ended December 31, 2013. | ||||||||
Allocation of Purchase Price | ||||||||
The operations of the Nevada Utilities are subject to the rate-setting authority of the PUCN and the FERC and are accounted for pursuant to GAAP, including the authoritative guidance for regulated operations. The rate-setting and cost recovery provisions establish retail rates on a cost-of-service basis designed to allow the Nevada Utilities an opportunity to recover their costs of providing service and a return on their investments in rate base. Except for regulatory assets not earning a return and certain assets not currently in rates, the fair value of the Nevada Utilities' assets acquired and liabilities assumed subject to these rate-setting provisions are assumed to approximate their carrying values and, therefore, no fair value adjustments have been reflected related to these amounts. | ||||||||
The fair value of NV Energy's assets acquired and liabilities assumed not subject to the rate-setting provisions discussed above was determined using an income approach. This approach is based on significant estimates and assumptions, including Level 3 inputs, which are judgmental in nature. The estimates and assumptions include the projected timing and amount of future cash flows, discount rates reflecting the risk inherent in the future cash flows and future market prices. | ||||||||
NV Energy's non-regulated assets acquired and liabilities assumed consist principally of NV Energy's 6.25% senior notes due in 2020 and NV Energy’s variable-rate term loan that was paid in 2014. The fair value of these liabilities was determined based on quoted market prices. | ||||||||
The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date (in millions): | ||||||||
Fair Value | ||||||||
Current assets, including cash and cash equivalents of $304 | $ | 1,159 | ||||||
Property, plant and equipment | 9,511 | |||||||
Goodwill | 2,369 | |||||||
Other long-term assets | 1,347 | |||||||
Total assets | 14,386 | |||||||
Current liabilities, including current portion of long-term debt of $218 | 880 | |||||||
Subsidiary debt, less current portion | 5,116 | |||||||
Deferred income taxes | 1,731 | |||||||
Other long-term liabilities | 1,063 | |||||||
Total liabilities | 8,790 | |||||||
Net assets acquired | $ | 5,596 | ||||||
During 2014, the Company made revisions to regulatory assets not earning a return, certain assets not currently in rates and certain environmental and other contingencies based upon the receipt of additional information about the facts and circumstances that existed as of the acquisition date. Provisional amounts were subject to further revision for up to 12 months following the acquisition date until the related valuations were completed. | ||||||||
Goodwill | ||||||||
The excess of the purchase price paid over the estimated fair values of the identifiable assets acquired and liabilities assumed totaled $2.4 billion and is reflected as goodwill in the NV Energy reportable segment. The goodwill reflects the value paid primarily for the long-term opportunity to improve operating results through the efficient management of operating expenses and the deployment of capital, as well as the opportunity to improve regulatory relationships and develop customer solutions to meet the long-term needs of the Nevada Utilities. Goodwill is not amortized, but rather is reviewed annually for impairment or more frequently if indicators of impairment exist. None of the goodwill recognized is deductible for income tax purposes, and no deferred income taxes have been recorded related to the goodwill. | ||||||||
Pro Forma Financial Information | ||||||||
The following unaudited pro forma financial information reflects the consolidated results of operations of BHE, non-recurring transaction, integration and other costs incurred by both BHE and NV Energy during 2013 totaling $74 million, after-tax, a one-time bill credit to retail customers of $13 million, after-tax, and the amortization of the purchase price adjustments each assuming the acquisition had taken place on January 1, 2012 (in millions): | ||||||||
2013 | 2012 | |||||||
Operating revenue | $ | 15,561 | $ | 14,369 | ||||
Net income attributable to BHE shareholders | $ | 1,867 | $ | 1,638 | ||||
The unaudited pro forma financial information has been presented for illustrative purposes only and is not necessarily indicative of the consolidated results of operations that would have been achieved or the future consolidated results of operations of BHE. | ||||||||
Other | ||||||||
In 2014, the Company completed various other acquisitions totaling $243 million. The purchase price for each acquisition was allocated to the assets acquired and liabilities assumed, which related primarily to property, plant and equipment of $641 million, goodwill of $80 million, long-term debt of $231 million and noncurrent deferred income tax liabilities of $170 million for the remaining 50% interest in CE Generation, LLC ("CE Generation"), development and construction costs for the 300-megawatt ("MW") TX Jumbo Road Wind, LLC wind-powered generation project ("Jumbo Road Project") and real estate brokerage and mortgage businesses. There were no other material assets acquired or liabilities assumed. | ||||||||
In 2013, the Company completed various other acquisitions of residential real estate brokerage and mortgage businesses totaling $240 million. The purchase prices were allocated to the assets acquired and liabilities assumed in each acquisition. The assets acquired consisted of loans receivable and other working capital items, goodwill of $188 million and other identifiable intangible assets. The liabilities assumed totaled $271 million primarily related to mortgage lines of credit secured by the loans receivable acquired and other working capital items. | ||||||||
In 2012, the Company completed various other acquisitions totaling $591 million. The purchase price for each acquisition was allocated to the assets acquired, which relate primarily to development and construction costs for the 550-megawatt ("MW") Topaz solar project ("Topaz Project"), the 81-MW Bishop Hill II wind-powered generation project ("Bishop Hill Project"), the 168-MW Pinyon Pines I and 132-MW Pinyon Pines II wind-generating facilities ("Pinyon Pines Projects") and the 309-MW Solar Star I and 270-MW Solar Star II solar projects ("Solar Star Projects"), and goodwill of $112 million and intangible franchise contracts of $92 million for a 66.7% interest in a real estate brokerage franchise business and five real estate brokerage businesses. The Company assumed long-term debt of $590 million and recognized a redeemable noncontrolling interest of $65 million. The noncontrolling interest member has the right to put the remaining 33.3% interest in the franchise business to HomeServices after March 2015 and HomeServices has the right to purchase the remaining 33.3% interest in the franchise business after March 2018 at a predetermined option exercise price. There were no other material liabilities assumed. |
Property_Plant_and_Equipment_N
Property, Plant and Equipment, Net (Notes) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Property, Plant and Equipment, Net [Abstract] | ||||||||||
Property, Plant and Equipment, Net [Text Block] | (4) Property, Plant and Equipment, Net | |||||||||
Property, plant and equipment, net consists of the following as of December 31 (in millions): | ||||||||||
Depreciable | ||||||||||
Life | 2014 | 2013 | ||||||||
Regulated assets: | ||||||||||
Utility generation, distribution and transmission system | 5-80 years | $ | 64,645 | $ | 57,490 | |||||
Interstate pipeline assets | 3-80 years | 6,660 | 6,448 | |||||||
71,305 | 63,938 | |||||||||
Accumulated depreciation and amortization | (21,447 | ) | (19,874 | ) | ||||||
Regulated assets, net | 49,858 | 44,064 | ||||||||
Nonregulated assets: | ||||||||||
Independent power plants | 5-30 years | 4,362 | 1,994 | |||||||
Other assets | 3-30 years | 673 | 522 | |||||||
5,035 | 2,516 | |||||||||
Accumulated depreciation and amortization | (839 | ) | (678 | ) | ||||||
Nonregulated assets, net | 4,196 | 1,838 | ||||||||
Net operating assets | 54,054 | 45,902 | ||||||||
Construction work-in-progress | 5,194 | 4,217 | ||||||||
Property, plant and equipment, net | $ | 59,248 | $ | 50,119 | ||||||
Construction work-in-progress includes $4.3 billion and $2.8 billion as of December 31, 2014 and 2013, respectively, related to the construction of regulated assets. | ||||||||||
As a result of PacifiCorp's depreciation study approved by its state regulatory commissions, PacifiCorp revised its depreciation rates effective January 1, 2014. The approved depreciation rates resulted in an increase in depreciation expense of $35 million for the year ended December 31, 2014 as compared to the year ended December 31, 2013. | ||||||||||
During the third quarter of 2012, MidAmerican Energy revised its depreciation rates for certain coal-fueled generation facilities reflecting shorter estimated useful lives. The effect of this change increased depreciation and amortization expense by $5 million in 2012 and $11 million annually based on depreciable plant balances at the time of the change. During the third quarter of 2013, MidAmerican Energy revised its depreciation rates for certain electric generating facilities based on the results of a new depreciation study. The new rates reflect longer estimated useful lives for wind-powered generating facilities placed in-service in 2011 and 2012 and a lower accrual rate for the cost of removal regulatory liability related to coal-fueled generating facilities. The effect of this change was to reduce depreciation and amortization expense by $20 million in 2013 and $49 million annually based on depreciable plant balances at the time of the change. Effective January 1, 2014, MidAmerican Energy revised depreciation rates for certain electric generating facilities based on the results of its 2013 Iowa electric retail rate case. The new depreciation rates reflect longer estimated useful lives for certain generating facilities. The effect of this change was to reduce depreciation and amortization expense by $50 million annually based on depreciable plant balances at the time of the change. |
Jointly_Owned_Utility_Faciliti
Jointly Owned Utility Facilities (Notes) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Jointly Owned Utility Facilities [Abstract] | |||||||||||||||
Jointly Owned Utility Facilities [Text Block] | |||||||||||||||
-5 | Jointly Owned Utility Facilities | ||||||||||||||
Under joint facility ownership agreements, the Domestic Regulated Businesses, as tenants in common, have undivided interests in jointly owned generation, transmission, distribution and pipeline common facilities. The Company accounts for its proportionate share of each facility, and each joint owner has provided financing for its share of each facility. Operating costs of each facility are assigned to joint owners based on their percentage of ownership or energy production, depending on the nature of the cost. Operating costs and expenses on the Consolidated Statements of Operations include the Company's share of the expenses of these facilities. | |||||||||||||||
The amounts shown in the table below represent the Company's share in each jointly owned facility as of December 31, 2014 (dollars in millions): | |||||||||||||||
Accumulated | Construction | ||||||||||||||
Company | Facility In | Depreciation and | Work-in- | ||||||||||||
Share | Service | Amortization | Progress | ||||||||||||
PacifiCorp: | |||||||||||||||
Jim Bridger Nos. 1-4 | 67 | % | $ | 1,134 | $ | 554 | $ | 116 | |||||||
Hunter No. 1 | 94 | 467 | 144 | — | |||||||||||
Hunter No. 2 | 60 | 290 | 88 | 1 | |||||||||||
Wyodak | 80 | 450 | 183 | 5 | |||||||||||
Colstrip Nos. 3 and 4 | 10 | 231 | 125 | 1 | |||||||||||
Hermiston(1) | 50 | 175 | 67 | 1 | |||||||||||
Craig Nos. 1 and 2 | 19 | 323 | 203 | 7 | |||||||||||
Hayden No. 1 | 25 | 55 | 27 | 12 | |||||||||||
Hayden No. 2 | 13 | 33 | 18 | 3 | |||||||||||
Foote Creek | 79 | 37 | 22 | — | |||||||||||
Transmission and distribution facilities | Various | 347 | 65 | — | |||||||||||
Total PacifiCorp | 3,542 | 1,496 | 146 | ||||||||||||
MidAmerican Energy: | |||||||||||||||
Louisa No. 1 | 88 | % | 747 | 392 | 4 | ||||||||||
Quad Cities Nos. 1 and 2(2) | 25 | 656 | 316 | 27 | |||||||||||
Walter Scott, Jr. No. 3 | 79 | 561 | 287 | 7 | |||||||||||
Walter Scott, Jr. No. 4(3) | 60 | 446 | 82 | 3 | |||||||||||
George Neal No. 4 | 41 | 303 | 142 | — | |||||||||||
Ottumwa No. 1 | 52 | 530 | 171 | 2 | |||||||||||
George Neal No. 3 | 72 | 390 | 141 | 3 | |||||||||||
Transmission facilities | Various | 243 | 81 | 17 | |||||||||||
Total MidAmerican Energy | 3,876 | 1,612 | 63 | ||||||||||||
NV Energy: | |||||||||||||||
Navajo | 11 | % | 198 | 135 | 2 | ||||||||||
Silverhawk | 75 | 241 | 55 | 5 | |||||||||||
Valmy | 50 | 343 | 213 | 27 | |||||||||||
Transmission facilities | Various | 221 | 32 | 2 | |||||||||||
Total NV Energy | 1,003 | 435 | 36 | ||||||||||||
BHE Pipeline Group - common facilities | Various | 311 | 175 | 2 | |||||||||||
Total | $ | 8,732 | $ | 3,718 | $ | 247 | |||||||||
-1 | PacifiCorp has contracted to purchase the remaining 50% of the output of the Hermiston generating facility. | ||||||||||||||
-2 | Includes amounts related to nuclear fuel. | ||||||||||||||
-3 | Facility in-service and accumulated depreciation and amortization amounts are net of credits applied under Iowa revenue sharing arrangements totaling $320 million and $60 million, respectively. |
Regulatory_Matters_Notes
Regulatory Matters (Notes) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Regulatory Assets and Liabilities Disclosure [Abstract] | ||||||||||
Regulatory Matters [Text Block] | (6) Regulatory Matters | |||||||||
Utah Mine Disposition | ||||||||||
Due to quality issues with the coal reserves at PacifiCorp's Deer Creek mine in Utah and rising costs at PacifiCorp's wholly owned subsidiary, Energy West Mining Company, PacifiCorp believes the Deer Creek coal reserves are no longer able to be economically mined. As a result, in December 2014, PacifiCorp filed applications with the Utah Public Service Commission, the Oregon Public Utility Commission ("OPUC"), the Wyoming Public Service Commission and the Idaho Public Utilities Commission seeking certain approvals, prudence determinations and accounting orders to close its Deer Creek mining operations, sell certain Utah mining assets, enter into a replacement coal supply agreement, amend an existing coal supply agreement, withdraw from the United Mine Workers of America ("UMWA") 1974 Pension Trust and settle PacifiCorp's other postretirement benefit obligation for UMWA participants (collectively, the "Utah Mine Disposition"). PacifiCorp also filed an advice letter with the California Public Utilities Commission ("CPUC"). The asset sales and coal supply agreements are contingent upon regulatory approvals for which orders are expected to be issued in the second quarter of 2015. As a result of the Utah Mine Disposition, PacifiCorp believes abandonment of the Deer Creek mine assets, sale of the specified Utah mining assets and withdrawal from the UMWA 1974 Pension Trust are probable. PacifiCorp expects to transfer funds from its other postretirement plan assets to the UMWA in June 2015 to effectuate the settlement of the portion of the obligation related to UMWA participants. | ||||||||||
Regulatory Assets | ||||||||||
Regulatory assets represent costs that are expected to be recovered in future regulated rates. The Company's regulatory assets reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): | ||||||||||
Weighted | ||||||||||
Average | ||||||||||
Remaining Life | 2014 | 2013 | ||||||||
Deferred income taxes(1) | 26 years | $ | 1,468 | $ | 1,413 | |||||
Employee benefit plans(2) | 9 years | 747 | 589 | |||||||
Asset disposition costs(3) | Various | 329 | 23 | |||||||
Deferred net power costs | 1 year | 277 | 303 | |||||||
Asset retirement obligations | 10 years | 239 | 193 | |||||||
Unrealized loss on regulated derivative contracts | 5 years | 223 | 182 | |||||||
Abandoned projects | 5 years | 159 | 80 | |||||||
Unamortized contract values | 8 years | 123 | 146 | |||||||
Other | Various | 688 | 586 | |||||||
Total regulatory assets | $ | 4,253 | $ | 3,515 | ||||||
Reflected as: | ||||||||||
Current assets | $ | 253 | $ | 193 | ||||||
Noncurrent assets | 4,000 | 3,322 | ||||||||
Total regulatory assets | $ | 4,253 | $ | 3,515 | ||||||
-1 | Amounts primarily represent income tax benefits related to state accelerated tax depreciation and certain property-related basis differences that were previously flowed through to customers and will be included in regulated rates when the temporary differences reverse. | |||||||||
-2 | Represents amounts not yet recognized as a component of net periodic benefit cost that are expected to be included in regulated rates when recognized. | |||||||||
-3 | Includes amounts established as a result of the Utah Mine Disposition for the net property, plant and equipment not considered probable of disallowance and for the portion of losses associated with the assets held for sale, UMWA 1974 Pension Trust withdrawal and closure costs incurred to date considered probable of recovery. | |||||||||
The Company had regulatory assets not earning a return on investment of $2.6 billion and $2.2 billion as of December 31, 2014 and 2013, respectively. | ||||||||||
Regulatory Liabilities | ||||||||||
Regulatory liabilities represent income to be recognized or amounts to be returned to customers in future periods. The Company's regulatory liabilities reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): | ||||||||||
Weighted | ||||||||||
Average | ||||||||||
Remaining Life | 2014 | 2013 | ||||||||
Cost of removal(1) | 28 years | $ | 2,215 | $ | 2,009 | |||||
Asset retirement obligations | 23 years | 169 | 151 | |||||||
Levelized depreciation | 27 years | 169 | 144 | |||||||
Employee benefit plans(2) | 12 years | 20 | 74 | |||||||
Other | Various | 259 | 287 | |||||||
Total regulatory liabilities | $ | 2,832 | $ | 2,665 | ||||||
Reflected as: | ||||||||||
Current liabilities | $ | 163 | $ | 167 | ||||||
Noncurrent liabilities | 2,669 | 2,498 | ||||||||
Total regulatory liabilities | $ | 2,832 | $ | 2,665 | ||||||
-1 | Amounts represent estimated costs, as accrued through depreciation rates and exclusive of ARO liabilities, of removing regulated property, plant and equipment in accordance with accepted regulatory practices. Amounts are deducted from rate base or otherwise accrue a carrying cost. | |||||||||
-2 | Represents amounts not yet recognized as a component of net periodic benefit cost that are to be returned to customers in future periods when recognized. |
Investments_and_Restricted_Cas
Investments and Restricted Cash and Investments (Notes) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Investments and Restricted Cash and Investments [Abstract] | ||||||||
Investments and Restricted Cash and Investments [Text Block] | (7) Investments and Restricted Cash and Investments | |||||||
Investments and restricted cash and investments consists of the following as of December 31 (in millions): | ||||||||
2014 | 2013 | |||||||
Investments: | ||||||||
BYD Company Limited common stock | $ | 881 | $ | 1,103 | ||||
Rabbi trusts | 386 | 373 | ||||||
Other | 126 | 126 | ||||||
Total investments | 1,393 | 1,602 | ||||||
Equity method investments: | ||||||||
Electric Transmission Texas, LLC | 515 | 454 | ||||||
Bridger Coal Company | 192 | 178 | ||||||
Agua Caliente Solar, LLC | 81 | 41 | ||||||
CE Generation | — | 185 | ||||||
Other | 80 | 85 | ||||||
Total equity method investments | 868 | 943 | ||||||
Restricted cash and investments: | ||||||||
Quad Cities Station nuclear decommissioning trust funds | 424 | 394 | ||||||
Solar Star and Topaz Projects | 66 | 236 | ||||||
Other | 167 | 126 | ||||||
Total restricted cash and investments | 657 | 756 | ||||||
Total investments and restricted cash and investments | $ | 2,918 | $ | 3,301 | ||||
Reflected as: | ||||||||
Current assets | $ | 115 | $ | 65 | ||||
Noncurrent assets | 2,803 | 3,236 | ||||||
Total investments and restricted cash and investments | $ | 2,918 | $ | 3,301 | ||||
Investments | ||||||||
BHE's investment in BYD Company Limited common stock is accounted for as an available-for-sale security with changes in fair value recognized in AOCI. As of December 31, 2014 and 2013, the fair value of BHE's investment in BYD Company Limited common stock was $881 million and $1.1 billion, respectively, which resulted in a unrealized gain of $649 million and $871 million as of December 31, 2014 and 2013, respectively. | ||||||||
Rabbi trusts primarily hold corporate-owned life insurance on certain current and former key executives and directors. The Rabbi trusts were established to hold investments used to fund the obligations of various nonqualified executive and director compensation plans and to pay the costs of the trusts. The amount represents the cash surrender value of all of the policies included in the Rabbi trusts, net of amounts borrowed against the cash surrender value. | ||||||||
Equity Method Investments | ||||||||
BHE, through a subsidiary, owns 50% of Electric Transmission Texas, LLC, which owns and operates electric transmission assets in the Electric Reliability Council of Texas footprint. BHE, through a subsidiary, owns 66.67% of Bridger Coal Company ("Bridger Coal"), which is a coal mining joint venture that supplies coal to the Jim Bridger generating facility. Bridger Coal is being accounted for under the equity method of accounting as the power to direct the activities that most significantly impact Bridger Coal's economic performance are shared with the joint venture partner. BHE, through a subsidiary, owns 49% of Agua Caliente Solar, LLC ("Agua Caliente"), which owns a 290-MW solar project (the "Agua Caliente Project") in Arizona. In June 2014, BHE, through a subsidiary, acquired the remaining 50% interest in CE Generation, which is engaged in the independent power business, and through its subsidiaries, owns and operates geothermal generating facilities in the Imperial Valley of California and natural gas-fueled combined cycle cogeneration facilities in New York, Texas and Arizona. | ||||||||
During 2013, BHE recognized an impairment charge on its equity investment in CE Generation totaling $116 million. The impairment charge is reflected in equity income (loss) on the Consolidated Statements of Operations. | ||||||||
Restricted Cash and Investments | ||||||||
MidAmerican Energy has established a trust for the investment of funds for decommissioning the Quad Cities Nuclear Station Units 1 and 2 ("Quad Cities Station"). These investments in debt and equity securities are classified as available-for-sale and are reported at fair value. Funds are invested in the trust in accordance with applicable federal and state investment guidelines and are restricted for use as reimbursement for costs of decommissioning the Quad Cities Station, which are currently licensed for operation until December 2032. | ||||||||
As of December 31, 2014 and 2013, restricted cash and investments included $22 million and $201 million, respectively, restricted for construction of the Solar Star Projects and $44 million and $35 million, respectively, restricted for construction of the Topaz Project. |
ShortTerm_Debt_and_Credit_Faci
Short-Term Debt and Credit Facilities (Notes) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||
Line of Credit Facility [Abstract] | ||||||||||||||||||||||||||||||||
Short-term Debt and Credit Facilities [Text Block] | (8) Short-Term Debt and Credit Facilities | |||||||||||||||||||||||||||||||
The following table summarizes BHE's and its subsidiaries' availability under their credit facilities as of December 31, (in millions): | ||||||||||||||||||||||||||||||||
MidAmerican | NV | Northern | Home- | |||||||||||||||||||||||||||||
BHE | PacifiCorp | Funding | Energy | Powergrid | AltaLink | Services | Total(1) | |||||||||||||||||||||||||
2014:00:00 | ||||||||||||||||||||||||||||||||
Credit facilities | $ | 2,000 | $ | 1,200 | $ | 609 | $ | 650 | $ | 265 | $ | 1,119 | $ | 853 | $ | 6,696 | ||||||||||||||||
Less: | ||||||||||||||||||||||||||||||||
Short-term debt | (395 | ) | (20 | ) | (50 | ) | — | (215 | ) | (251 | ) | (514 | ) | (1,445 | ) | |||||||||||||||||
Tax-exempt bond support and letters of credit | (28 | ) | (398 | ) | (195 | ) | — | — | (4 | ) | — | (625 | ) | |||||||||||||||||||
Net credit facilities | $ | 1,577 | $ | 782 | $ | 364 | $ | 650 | $ | 50 | $ | 864 | $ | 339 | $ | 4,626 | ||||||||||||||||
2013:00:00 | ||||||||||||||||||||||||||||||||
Credit facilities | $ | 600 | $ | 1,200 | $ | 609 | $ | 750 | $ | 248 | $ | — | $ | 665 | $ | 4,072 | ||||||||||||||||
Less: | ||||||||||||||||||||||||||||||||
Short-term debt | — | — | — | — | (102 | ) | — | (130 | ) | (232 | ) | |||||||||||||||||||||
Tax-exempt bond support and letters of credit | (50 | ) | (321 | ) | (195 | ) | (6 | ) | — | — | — | (572 | ) | |||||||||||||||||||
Net credit facilities | $ | 550 | $ | 879 | $ | 414 | $ | 744 | $ | 146 | $ | — | $ | 535 | $ | 3,268 | ||||||||||||||||
-1 | The above table does not include unused credit facilities and letters of credit for investments that are accounted for under the equity method. | |||||||||||||||||||||||||||||||
As of December 31, 2014, the Company was in compliance with the covenants of its credit facilities and letter of credit arrangements. | ||||||||||||||||||||||||||||||||
BHE | ||||||||||||||||||||||||||||||||
In June 2014, BHE entered into a $1.4 billion senior unsecured credit facility expiring in June 2017 and has a $600 million senior unsecured credit facility expiring in June 2017. These credit facilities have a variable interest rate based on the London Interbank Offered Rate ("LIBOR") or a base rate, at BHE's option, plus a spread that varies based on BHE's credit ratings for its senior unsecured long-term debt securities. These credit facilities are for general corporate purposes and also supports BHE's commercial paper program and provides for the issuance of letters of credit. As of December 31, 2014, the weighted average interest rate on commercial paper borrowings outstanding was 0.49%. These credit facilities require that BHE's ratio of consolidated debt, including current maturities, to total capitalization not exceed 0.70 to 1.0 as of the last day of each quarter. | ||||||||||||||||||||||||||||||||
PacifiCorp | ||||||||||||||||||||||||||||||||
PacifiCorp has a $600 million unsecured credit facility expiring in June 2017 and a $600 million unsecured credit facility expiring in March 2018. These credit facilities, which support PacifiCorp's commercial paper program, certain series of its tax-exempt bond obligations and provide for the issuance of letters of credit, have a variable interest rate based on LIBOR or a base rate, at PacifiCorp's option, plus a spread that varies based on PacifiCorp's credit ratings for its senior unsecured long-term debt securities. As of December 31, 2014, the weighted average interest rate on commercial paper borrowings outstanding was 0.43%. These credit facilities require that PacifiCorp's ratio of consolidated debt, including current maturities, to total capitalization not exceed 0.65 to 1.0 as of the last day of each quarter. | ||||||||||||||||||||||||||||||||
As of December 31, 2014 and 2013, PacifiCorp had $451 million and $559 million, respectively, of fully available letters of credit issued under committed arrangements, of which $270 million as of December 31, 2014 and 2013 were issued under the credit facilities. These letters of credit support PacifiCorp's variable-rate tax-exempt bond obligations and expire through March 2017. | ||||||||||||||||||||||||||||||||
MidAmerican Funding | ||||||||||||||||||||||||||||||||
MidAmerican Energy has a $600 million unsecured credit facility expiring in March 2018. The credit facility, which supports MidAmerican Energy's commercial paper program and its variable-rate tax-exempt bond obligations and provides for the issuance of letters of credit, has a variable interest rate based on LIBOR or a base rate, at MidAmerican Energy's option, plus a spread that varies based on MidAmerican Energy's credit ratings for senior unsecured long-term debt securities. As of December 31, 2014, the weighted average interest rate on commercial paper borrowings outstanding was 0.35%. The credit facility requires that MidAmerican Energy's ratio of consolidated debt, including current maturities, to total capitalization not exceed 0.65 to 1.0 as of the last day of each quarter. | ||||||||||||||||||||||||||||||||
NV Energy | ||||||||||||||||||||||||||||||||
Nevada Power has a $400 million secured credit facility expiring in March 2018 and Sierra Pacific has a $250 million secured credit facility expiring in March 2018. These credit facilities, which are for general corporate purposes and provide for the issuance of letters of credit, have a variable interest rate based on LIBOR or a base rate, at each of the Nevada Utilities' option, plus a spread that varies based on each of the Nevada Utilities' credit ratings for its senior secured long-term debt securities. Amounts due under each credit facility are collateralized by each of the Nevada Utilities' general and refunding mortgage bonds. The credit facilities require that each of the Nevada Utilities' ratio of consolidated debt, including current maturities, to total capitalization not exceed 0.68 to 1.0 as of the last day of each quarter. | ||||||||||||||||||||||||||||||||
Northern Powergrid | ||||||||||||||||||||||||||||||||
Northern Powergrid has a £150 million unsecured credit facility expiring in August 2017. The credit facility has a variable interest rate based on sterling LIBOR plus a spread that varies based on its credit ratings. As of December 31, 2014 and 2013, $184 million and $102 million, respectively, were outstanding under the credit facility with weighted average interest rates of 1.75% and 1.74%, respectively. The credit facility requires that the ratio of consolidated senior total net debt, including current maturities, to regulated asset value not exceed 0.8 to 1.0 at Northern Powergrid and 0.65 to 1.0 at Northern Powergrid (Northeast) Limited and Northern Powergrid (Yorkshire) plc as of June 30 and December 31. Northern Powergrid's interest coverage ratio shall not be less than 2.5 to 1.0. Additionally, as of December 31, 2014 and 2013, Northern Powergrid has $31 million and $- million, respectively, drawn on uncommitted bank facilities totaling £42 million, with a weighted average interest rate of 2.0% as of December 31, 2014. | ||||||||||||||||||||||||||||||||
AltaLink | ||||||||||||||||||||||||||||||||
ALP has a C$925 million secured revolving credit facility expiring in December 2016, which provides support for borrowing under the unsecured commercial paper program and may also be used for general corporate purposes. The credit facility has a variable interest rate based on the Canadian bank prime lending rate or a spread above the Bankers' Acceptance rate, at ALP's option, based on ALP's credit ratings for its senior secured long-term debt securities. In addition, ALP has a C$75 million secured revolving credit facility expiring in December 2016, which may be used for general corporate purposes, capital expenditures and letters of credit. The credit facility has a variable interest rate based on the Canadian bank prime lending rate, United States base rate, United States LIBOR loan rate, or a spread above the Bankers' Acceptance rate, at ALP's option, based on ALP's credit ratings for its senior secured long-term debt securities. At the renewal date, ALP has the option to convert these facilities to one-year term facilities. The credit facilities require the consolidated indebtedness to total capitalization not exceed 0.75 to 1.0 measured as of the last day of each quarter. As of December 31, 2014, ALP had $104 million outstanding under these facilities at a weighted average interest rate of 1.26%. | ||||||||||||||||||||||||||||||||
AltaLink Investments, L.P. has a C$300 million unsecured revolving term credit facility expiring in December 2019, which may be used for operating expenses, capital expenditures, working capital needs and letters of credit to a maximum of C$10 million. The credit facility has a variable interest rate based on the Canadian bank prime lending rate, United States base rate, United States LIBOR loan rate, or a spread above the Bankers' Acceptance rate, at AltaLink Investments, L.P.'s option, based on AltaLink Investments, L.P.'s credit ratings for its senior unsecured long-term debt securities. The credit facility requires the consolidated total debt to capitalization to not exceed 0.8 to 1.0 and earnings before interest, taxes, depreciation and amortization to interest expense for the four fiscal quarters ended to not be less than 2.25 to 1.0 measured as of the last day of each quarter. As of December 31, 2014, AltaLink Investments, L.P. had $147 million outstanding under this facility at a weighted average interest rate of 1.30%. | ||||||||||||||||||||||||||||||||
HomeServices | ||||||||||||||||||||||||||||||||
HomeServices has a $350 million unsecured credit facility expiring in July 2018. The credit facility has a variable interest rate based on the prime lending rate or the LIBOR, at HomeServices' option, plus a spread that varies based on HomeServices' Total Leverage Ratio as defined in the agreement. As of December 31, 2014, HomeServices had $243 million outstanding under its credit facility with a weighted average interest rate of 1.41%. There were no borrowings outstanding under the credit facility as of December 31, 2013. | ||||||||||||||||||||||||||||||||
Through its subsidiaries, HomeServices maintains mortgage lines of credit totaling $478 million and $275 million as of December 31, 2014 and 2013, respectively, used for mortgage banking activities that currently expire beginning in May 2015 through December 2015. The mortgage lines of credit have variable rates based on LIBOR plus a spread. Collateral for these credit facilities is comprised of residential property being financed and is equal to the loans funded with the facilities. As of December 31, 2014 and 2013, HomeServices had $270 million and $124 million, respectively, outstanding under these mortgage lines of credit at a weighted average interest rate of 2.25% and 3.15%, respectively. | ||||||||||||||||||||||||||||||||
HomeServices has a subsidiary that maintains a mortgage line of credit totaling $25 million and $40 million as of December 31, 2014 and 2013, respectively, used for mortgage banking activities that is due on demand with a 90-day notice from either party. The mortgage line of credit has a variable rate based on LIBOR plus a spread, with a minimum rate of 3.375%. Collateral for this credit facility is equal to the loans funded with this warehouse credit and an additional $1 million of cash on deposit. As of December 31, 2014 and 2013, HomeServices had $1 million and $6 million, respectively, outstanding under its mortgage line at a weighted average interest rate of 3.375%. | ||||||||||||||||||||||||||||||||
BHE Renewables Letters of Credit | ||||||||||||||||||||||||||||||||
In connection with its bond offering, Topaz entered into a letter of credit and reimbursement facility in an aggregate principal amount of $345 million. Letters of credit issued under the letter of credit facility will be used to (a) provide security under the power purchase agreement and large generator interconnection agreements, (b) fund the debt service reserve requirement and the operation and maintenance debt service reserve requirement, (c) provide security for remediation and mitigation liabilities, and (d) provide security in respect of conditional use permit sales tax obligations. As of December 31, 2014, Topaz had $245 million of letters of credit issued under this facility. | ||||||||||||||||||||||||||||||||
As of December 31, 2014, BHE has a letter of credit outstanding of $43 million in support of the power purchase agreement associated with the Agua Caliente Project. | ||||||||||||||||||||||||||||||||
As of December 31, 2014, certain renewable projects collectively have letters of credit outstanding of $63 million primarily in support of the power purchase agreements associated with the projects. |
BHE_Debt_Notes
BHE Debt (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
MEHC Debt [Abstract] | ||||||||||||
BHE Debt [Text Block] | ||||||||||||
-9 | BHE Debt | |||||||||||
Senior Debt | ||||||||||||
BHE senior debt represents unsecured senior obligations of BHE and consists of the following, including unamortized premiums and discounts, as of December 31 (in millions): | ||||||||||||
Par Value | 2014 | 2013 | ||||||||||
5.00% Senior Notes, due 2014 | $ | — | $ | — | $ | 250 | ||||||
1.10% Senior Notes, due 2017 | 400 | 400 | 400 | |||||||||
5.75% Senior Notes, due 2018 | 650 | 649 | 649 | |||||||||
2.00% Senior Notes, due 2018 | 350 | 350 | 350 | |||||||||
2.40% Senior Notes, due 2020 | 350 | 350 | — | |||||||||
3.75% Senior Notes, due 2023 | 500 | 500 | 500 | |||||||||
3.50% Senior Notes, due 2025 | 400 | 400 | — | |||||||||
8.48% Senior Notes, due 2028 | 475 | 482 | 483 | |||||||||
6.125% Senior Bonds, due 2036 | 1,700 | 1,699 | 1,699 | |||||||||
5.95% Senior Bonds, due 2037 | 550 | 548 | 548 | |||||||||
6.50% Senior Bonds, due 2037 | 1,000 | 992 | 992 | |||||||||
5.15% Senior Notes, due 2043 | 750 | 746 | 745 | |||||||||
4.50% Senior Notes, due 2045 | 750 | 744 | — | |||||||||
Total BHE Senior Debt | $ | 7,875 | $ | 7,860 | $ | 6,616 | ||||||
Reflected as: | ||||||||||||
Current liabilities | $ | — | $ | 250 | ||||||||
Noncurrent liabilities | 7,860 | 6,366 | ||||||||||
Total BHE Senior Debt | $ | 7,860 | $ | 6,616 | ||||||||
Junior Subordinated Debentures | ||||||||||||
BHE junior subordinated debentures consists of the following as of December 31 (in millions): | ||||||||||||
Par Value | 2014 | 2013 | ||||||||||
Junior subordinated debentures, due 2043 | $ | 2,294 | $ | 2,294 | $ | 2,594 | ||||||
Junior subordinated debentures, due 2044 | 1,500 | 1,500 | — | |||||||||
Total BHE junior subordinated debentures - noncurrent | $ | 3,794 | $ | 3,794 | $ | 2,594 | ||||||
BHE issued junior subordinated debentures to certain subsidiaries of Berkshire Hathaway pursuant to an indenture, by and between BHE and The Bank of New York Mellon Trust Company, N.A., as trustee, dated as of December 19, 2013 and November 12, 2014. The junior subordinated debentures are unsecured and junior in right of payment to BHE's senior debt. The junior subordinated debentures (i) have a 30 year maturity; (ii) bear interest at a floating rate equal to (a) the greater of 1% and the LIBOR (the greater of such two rates, the "Base Rate") plus 200 basis points through the date prior to the third anniversary of the issuance date; (b) the Base Rate plus 300 basis points (or, if at least 50% of principal is repaid prior to the third anniversary of the issuance date, the Base Rate plus 200 basis points) from the third anniversary of the issuance date through the date prior to the seventh anniversary of the issuance date; and (c) the Base Rate plus 375 basis points from the seventh anniversary of the issuance date until the maturity of the junior subordinated debentures; and (iii) are redeemable at BHE's option from time to time at par plus accrued and unpaid interest. The holders are restricted from transferring the junior subordinated debentures except to Berkshire Hathaway and its subsidiaries. As of December 31, 2014 and 2013, the interest rate was 3.0%. Interest expense to Berkshire Hathaway for the years ended December 31, 2014, 2013 and 2012 was $78 million, $3 million and $- million, respectively. |
Subsidiary_Debt_Notes
Subsidiary Debt (Notes) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||
Subsidiary Debt | (10) Subsidiary Debt | |||||||||||||||||||||||||||
BHE's direct and indirect subsidiaries are organized as legal entities separate and apart from BHE and its other subsidiaries. Pursuant to separate financing agreements, substantially all of PacifiCorp's electric utility properties; the equity interest of MidAmerican Funding's subsidiary; MidAmerican Energy's electric utility properties in the state of Iowa; substantially all of Nevada Power's and Sierra Pacific's properties in the state of Nevada; the long-term customer contracts of Kern River; AltaLink's transmission properties; and substantially all of the assets of the subsidiaries of BHE Renewables are pledged or encumbered to support or otherwise provide the security for their related subsidiary debt. It should not be assumed that the assets of any subsidiary will be available to satisfy BHE's obligations or the obligations of its other subsidiaries. However, unrestricted cash or other assets which are available for distribution may, subject to applicable law, regulatory commitments and the terms of financing and ring-fencing arrangements for such parties, be advanced, loaned, paid as dividends or otherwise distributed or contributed to BHE or affiliates thereof. The long-term debt of subsidiaries may include provisions that allow BHE's subsidiaries to redeem it in whole or in part at any time. These provisions generally include make-whole premiums. | ||||||||||||||||||||||||||||
Distributions at these separate legal entities are limited by various covenants including, among others, leverage ratios, interest coverage ratios and debt service coverage ratios. As of December 31, 2014, all subsidiaries were in compliance with their long-term debt covenants. | ||||||||||||||||||||||||||||
Long-term debt of subsidiaries consists of the following, including fair value adjustments and unamortized premiums and discounts, as of December 31 (in millions): | ||||||||||||||||||||||||||||
Par Value | 2014 | 2013 | ||||||||||||||||||||||||||
PacifiCorp | $ | 7,102 | $ | 7,089 | $ | 6,933 | ||||||||||||||||||||||
MidAmerican Funding | 4,396 | 4,345 | 3,838 | |||||||||||||||||||||||||
NV Energy | 5,093 | 5,138 | 5,296 | |||||||||||||||||||||||||
Northern Powergrid | 2,267 | 2,334 | 2,487 | |||||||||||||||||||||||||
BHE Pipeline Group | 1,367 | 1,366 | 1,448 | |||||||||||||||||||||||||
BHE Transmission | 3,735 | 3,756 | — | |||||||||||||||||||||||||
BHE Renewables | 2,964 | 2,967 | 2,800 | |||||||||||||||||||||||||
Total subsidiary debt | $ | 26,924 | $ | 26,995 | $ | 22,802 | ||||||||||||||||||||||
Reflected as: | ||||||||||||||||||||||||||||
Current liabilities | $ | 1,232 | $ | 938 | ||||||||||||||||||||||||
Noncurrent liabilities | 25,763 | 21,864 | ||||||||||||||||||||||||||
Total subsidiary debt | $ | 26,995 | $ | 22,802 | ||||||||||||||||||||||||
PacifiCorp | ||||||||||||||||||||||||||||
PacifiCorp's long-term debt consists of the following, including unamortized premiums and discounts, as of December 31 (dollars in millions): | ||||||||||||||||||||||||||||
Par Value | 2014 | 2013 | ||||||||||||||||||||||||||
First mortgage bonds: | ||||||||||||||||||||||||||||
5.50% to 8.635%, due through 2019 | $ | 862 | $ | 861 | $ | 1,070 | ||||||||||||||||||||||
2.95% to 8.53%, due 2021 to 2024 | 1,899 | 1,897 | 1,472 | |||||||||||||||||||||||||
6.71% due 2026 | 100 | 100 | 100 | |||||||||||||||||||||||||
5.90% to 7.70%, due 2031 to 2034 | 500 | 499 | 499 | |||||||||||||||||||||||||
5.25% to 6.35%, due 2035 to 2039 | 2,800 | 2,792 | 2,791 | |||||||||||||||||||||||||
4.10% due 2042 | 300 | 299 | 299 | |||||||||||||||||||||||||
Variable-rate series, tax-exempt bond obligations (2014-0.02% to 0.28%; 2013-0.03% to 0.52%): | ||||||||||||||||||||||||||||
Due 2015 to 2025(1) | 223 | 223 | 325 | |||||||||||||||||||||||||
Due 2015 to 2024(1)(2) | 221 | 221 | 221 | |||||||||||||||||||||||||
Due 2016 to 2025(2) | 36 | 36 | 51 | |||||||||||||||||||||||||
Due 2017 to 2018 | 91 | 91 | — | |||||||||||||||||||||||||
Capital lease obligations - 8.75% to 15.678%, due through 2036 | 70 | 70 | 105 | |||||||||||||||||||||||||
Total PacifiCorp | $ | 7,102 | $ | 7,089 | $ | 6,933 | ||||||||||||||||||||||
-1 | Supported by $451 million and $559 million of fully available letters of credit issued under committed bank arrangements as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||
-2 | Secured by pledged first mortgage bonds registered to and held by the tax-exempt bond trustee generally with the same interest rates, maturity dates and redemption provisions as the tax-exempt bond obligations. | |||||||||||||||||||||||||||
The issuance of PacifiCorp's first mortgage bonds is limited by available property, earnings tests and other provisions of PacifiCorp's mortgage. Approximately $25 billion of PacifiCorp's eligible property (based on original cost) was subject to the lien of the mortgage as of December 31, 2014. | ||||||||||||||||||||||||||||
MidAmerican Funding | ||||||||||||||||||||||||||||
MidAmerican Funding's long-term debt consists of the following, including fair value adjustments and unamortized premiums and discounts, as of December 31 (dollars in millions): | ||||||||||||||||||||||||||||
Par Value | 2014 | 2013 | ||||||||||||||||||||||||||
MidAmerican Funding: | ||||||||||||||||||||||||||||
6.927% Senior Bonds, due 2029 | $ | 325 | $ | 289 | $ | 288 | ||||||||||||||||||||||
MidAmerican Energy: | ||||||||||||||||||||||||||||
Tax-exempt bond obligations - | ||||||||||||||||||||||||||||
Variable-rate series (2014-0.07%, 2013-0.08%), due 2016-2038 | 195 | 195 | 195 | |||||||||||||||||||||||||
First Mortgage Bonds: | ||||||||||||||||||||||||||||
2.40%, due 2019 | 500 | 500 | 350 | |||||||||||||||||||||||||
3.70%, due 2023 | 250 | 249 | 249 | |||||||||||||||||||||||||
3.50%, due 2024 | 300 | 299 | — | |||||||||||||||||||||||||
4.80%, due 2043 | 350 | 348 | 348 | |||||||||||||||||||||||||
4.40%, due 2044 | 400 | 398 | — | |||||||||||||||||||||||||
Notes: | ||||||||||||||||||||||||||||
4.65% Series, due 2014 | — | — | 350 | |||||||||||||||||||||||||
5.95% Series, due 2017 | 250 | 250 | 250 | |||||||||||||||||||||||||
5.3% Series, due 2018 | 350 | 350 | 349 | |||||||||||||||||||||||||
6.75% Series, due 2031 | 400 | 397 | 397 | |||||||||||||||||||||||||
5.75% Series, due 2035 | 300 | 300 | 300 | |||||||||||||||||||||||||
5.8% Series, due 2036 | 350 | 350 | 350 | |||||||||||||||||||||||||
Turbine purchase obligation, 1.43% due 2015(1) | 426 | 420 | 412 | |||||||||||||||||||||||||
Total MidAmerican Energy | 4,071 | 4,056 | 3,550 | |||||||||||||||||||||||||
Total MidAmerican Funding | $ | 4,396 | $ | 4,345 | $ | 3,838 | ||||||||||||||||||||||
-1 | In conjunction with the construction of wind-powered generating facilities, MidAmerican Energy has accrued as property, plant and equipment, net amounts it is not contractually obligated to pay until the future. The amounts ultimately payable were discounted and recognized upon delivery of the equipment as long-term debt. The discount is being amortized as interest expense over the period until payment is due using the effective interest method. | |||||||||||||||||||||||||||
Pursuant to MidAmerican Energy's mortgage dated September 9, 2013, MidAmerican Energy's first mortgage bonds, currently and from time to time outstanding, are secured by a first mortgage lien on substantially all of its electric generating, transmission and distribution property within the State of Iowa, subject to certain exceptions and permitted encumbrances. As of December 31, 2014, MidAmerican Energy's eligible property subject to the lien of the mortgage totaled approximately $12 billion based on original cost. Additionally, MidAmerican Energy's senior notes outstanding are equally and ratably secured with the first mortgage bonds as required by the indentures under which the senior notes were issued. | ||||||||||||||||||||||||||||
NV Energy | ||||||||||||||||||||||||||||
NV Energy's long-term debt consists of the following, including fair value adjustments and unamortized premiums and discounts, as of December 31 (dollars in millions): | ||||||||||||||||||||||||||||
Par Value | 2014 | 2013 | ||||||||||||||||||||||||||
NV Energy: | ||||||||||||||||||||||||||||
Variable-rate Term Loan, due 2014(1) | $ | — | $ | — | $ | 195 | ||||||||||||||||||||||
6.250% Senior Notes, due 2020 | 315 | 362 | 369 | |||||||||||||||||||||||||
Total NV Energy | 315 | 362 | 564 | |||||||||||||||||||||||||
Nevada Power: | ||||||||||||||||||||||||||||
General and Refunding Mortgage Securities: | ||||||||||||||||||||||||||||
5.875% Series L, due 2015 | 250 | 250 | 250 | |||||||||||||||||||||||||
5.950% Series M, due 2016 | 210 | 210 | 210 | |||||||||||||||||||||||||
6.500% Series O, due 2018 | 325 | 323 | 324 | |||||||||||||||||||||||||
6.500% Series S, due 2018 | 499 | 498 | 499 | |||||||||||||||||||||||||
7.125% Series V, due 2019 | 500 | 501 | 501 | |||||||||||||||||||||||||
6.650% Series N, due 2036 | 367 | 361 | 363 | |||||||||||||||||||||||||
6.750% Series R, due 2037 | 349 | 348 | 349 | |||||||||||||||||||||||||
5.375% Series X, due 2040 | 250 | 249 | 249 | |||||||||||||||||||||||||
5.450% Series Y, due 2041 | 250 | 250 | 250 | |||||||||||||||||||||||||
Variable-rate series (2014-0.455% to 0.464%, 2013 0.454% to 0.459%): | ||||||||||||||||||||||||||||
Pollution Control Revenue Bonds Series 2006A, due 2032 | 38 | 38 | 38 | |||||||||||||||||||||||||
Pollution Control Revenue Bonds Series 2006, due 2036 | 38 | 38 | 38 | |||||||||||||||||||||||||
Capital lease obligations - 2.75% to 11.6%, due through 2054 | 510 | 510 | 461 | |||||||||||||||||||||||||
Total Nevada Power | 3,586 | 3,576 | 3,532 | |||||||||||||||||||||||||
Sierra Pacific: | ||||||||||||||||||||||||||||
General and Refunding Mortgage Securities: | ||||||||||||||||||||||||||||
6.000% Series M, due 2016 | 450 | 452 | 453 | |||||||||||||||||||||||||
3.375% Series T, due 2023 | 250 | 250 | 250 | |||||||||||||||||||||||||
6.750% Series P, due 2037 | 252 | 258 | 259 | |||||||||||||||||||||||||
Variable-rate series (2014-0.464% to 0.466%, 2013-0.459% to 0.463%): | ||||||||||||||||||||||||||||
Pollution Control Revenue Bonds Series 2006A, due 2031 | 58 | 58 | 58 | |||||||||||||||||||||||||
Pollution Control Revenue Bonds Series 2006B, due 2036 | 75 | 75 | 75 | |||||||||||||||||||||||||
Pollution Control Revenue Bonds Series 2006C, due 2036 | 81 | 81 | 81 | |||||||||||||||||||||||||
Capital lease obligations - 2.7% to 8.814%, due through 2054 | 26 | 26 | 24 | |||||||||||||||||||||||||
Total Sierra Pacific | 1,192 | 1,200 | 1,200 | |||||||||||||||||||||||||
Total NV Energy | $ | 5,093 | $ | 5,138 | $ | 5,296 | ||||||||||||||||||||||
-1 | The term loan had a variable interest rate based on LIBOR plus a spread that varied during the term of the agreement. The variable interest rate as of December 31, 2013 was 1.92%. The Company had an interest rate swap that fixed the interest rate at 2.56% as of December 31, 2013. | |||||||||||||||||||||||||||
Utility plant of $3.5 billion and $1.5 billion is subject to the liens of the Nevada Power's and Sierra Pacific's, respectively, indentures under which its respective General and Refunding Mortgage Securities are issued. | ||||||||||||||||||||||||||||
Northern Powergrid | ||||||||||||||||||||||||||||
Northern Powergrid and its subsidiaries' long-term debt consists of the following, including fair value adjustments and unamortized premiums and discounts, as of December 31 (dollars in millions): | ||||||||||||||||||||||||||||
Par Value(1) | 2014 | 2013 | ||||||||||||||||||||||||||
8.875% Bonds, due 2020 | $ | 156 | $ | 174 | $ | 189 | ||||||||||||||||||||||
9.25% Bonds, due 2020 | 311 | 339 | 366 | |||||||||||||||||||||||||
3.901% to 4.586% European Investment Bank loans, due 2018 to 2022 | 420 | 420 | 444 | |||||||||||||||||||||||||
7.25% Bonds, due 2022 | 311 | 328 | 349 | |||||||||||||||||||||||||
7.25% Bonds, due 2028 | 290 | 299 | 319 | |||||||||||||||||||||||||
4.375% Bonds, due 2032 | 234 | 231 | 245 | |||||||||||||||||||||||||
5.125% Bonds, due 2035 | 311 | 310 | 328 | |||||||||||||||||||||||||
5.125% Bonds, due 2035 | 234 | 233 | 247 | |||||||||||||||||||||||||
Total Northern Powergrid | $ | 2,267 | $ | 2,334 | $ | 2,487 | ||||||||||||||||||||||
-1 | The par values for these debt instruments are denominated in sterling. | |||||||||||||||||||||||||||
BHE Pipeline Group | ||||||||||||||||||||||||||||
BHE Pipeline Group' long-term debt consists of the following, including unamortized premiums and discounts, as of December 31 (dollars in millions): | ||||||||||||||||||||||||||||
Par Value | 2014 | 2013 | ||||||||||||||||||||||||||
Northern Natural Gas: | ||||||||||||||||||||||||||||
5.125% Senior Notes, due 2015 | $ | 100 | $ | 100 | $ | 100 | ||||||||||||||||||||||
5.75% Senior Notes, due 2018 | 200 | 200 | 200 | |||||||||||||||||||||||||
4.25% Senior Notes, due 2021 | 200 | 200 | 200 | |||||||||||||||||||||||||
5.8% Senior Bonds, due 2037 | 150 | 150 | 150 | |||||||||||||||||||||||||
4.1% Senior Bonds, due 2042 | 250 | 249 | 250 | |||||||||||||||||||||||||
Total Northern Natural Gas | 900 | 899 | 900 | |||||||||||||||||||||||||
Kern River: | ||||||||||||||||||||||||||||
6.676% Senior Notes, due 2016 | 167 | 167 | 197 | |||||||||||||||||||||||||
4.893% Senior Notes, due 2018 | 300 | 300 | 351 | |||||||||||||||||||||||||
Total Kern River | 467 | 467 | 548 | |||||||||||||||||||||||||
Total BHE Pipeline Group | $ | 1,367 | $ | 1,366 | $ | 1,448 | ||||||||||||||||||||||
Kern River's long-term debt amortizes monthly. Kern River provides a debt service reserve letter of credit in amounts that approximate the next six months of principal and interest payments due on the loans, which were equal to $56 million as of December 31, 2014 and 2013. | ||||||||||||||||||||||||||||
BHE Transmission | ||||||||||||||||||||||||||||
BHE Transmission's long-term debt consists of the following, including fair value adjustments and unamortized premiums and discounts, as of December 31, (dollars in millions): | ||||||||||||||||||||||||||||
Par Value(1) | 2014 | 2013 | ||||||||||||||||||||||||||
AltaLink Investments, L.P.: | ||||||||||||||||||||||||||||
Series 09-1 Senior Bonds, 5.207%, due 2016 | $ | 128 | $ | 136 | $ | — | ||||||||||||||||||||||
Series 12-1 Senior Bonds, 3.674%, due 2019 | 172 | 181 | — | |||||||||||||||||||||||||
Series 13-1 Senior Bonds, 3.265%, due 2020 | 172 | 177 | — | |||||||||||||||||||||||||
Total AltaLink Investments, L.P. | 472 | 494 | — | |||||||||||||||||||||||||
AltaLink Holdings, L.P. Senior debentures, 10.5%, due 2015 | 78 | 78 | — | |||||||||||||||||||||||||
ALP: | ||||||||||||||||||||||||||||
Series 2008-1 Notes, 5.243%, due 2018 | 172 | 171 | — | |||||||||||||||||||||||||
Series 2013-2 Notes, 3.621%, due 2020 | 108 | 108 | — | |||||||||||||||||||||||||
Series 2012-2 Notes, 2.978%, due 2022 | 237 | 237 | — | |||||||||||||||||||||||||
Series 2013-4 Notes, 3.668%, due 2023 | 430 | 430 | — | |||||||||||||||||||||||||
Series 2014-1 Notes, 3.399%, due 2024 | 301 | 301 | — | |||||||||||||||||||||||||
Series 2006-1 Notes, 5.249%, due 2036 | 129 | 129 | — | |||||||||||||||||||||||||
Series 2010-1 Notes, 5.381%, due 2040 | 108 | 108 | — | |||||||||||||||||||||||||
Series 2010-2 Notes, 4.872%, due 2040 | 129 | 129 | — | |||||||||||||||||||||||||
Series 2011-1 Notes, 4.462%, due 2041 | 237 | 237 | — | |||||||||||||||||||||||||
Series 2012-1 Notes, 3.99%, due 2042 | 452 | 452 | — | |||||||||||||||||||||||||
Series 2013-3 Notes, 4.922%, due 2043 | 301 | 301 | — | |||||||||||||||||||||||||
Series 2014-3 Notes, 4.054%, due 2044 | 254 | 254 | — | |||||||||||||||||||||||||
Series 2013-1 Notes, 4.446%, due 2053 | 215 | 215 | — | |||||||||||||||||||||||||
Series 2014-2 Notes, 4.274%, due 2064 | 112 | 112 | — | |||||||||||||||||||||||||
Total AltaLink, L.P. | 3,185 | 3,184 | — | |||||||||||||||||||||||||
Total BHE Transmission | $ | 3,735 | $ | 3,756 | $ | — | ||||||||||||||||||||||
-1 | The par values for these debt instruments are denominated in Canadian dollars. | |||||||||||||||||||||||||||
BHE Renewables | ||||||||||||||||||||||||||||
BHE Renewables' long-term debt consists of the following, including fair value adjustments, as of December 31 (dollars in millions): | ||||||||||||||||||||||||||||
Par Value | 2014 | 2013 | ||||||||||||||||||||||||||
Fixed-rate(1): | ||||||||||||||||||||||||||||
CE Generation Bonds, 7.416%, due 2018 | $ | 123 | $ | 125 | $ | — | ||||||||||||||||||||||
Salton Sea Funding Corporation Bonds, 7.475%, due 2018 | 69 | 71 | — | |||||||||||||||||||||||||
Cordova Funding Corporation Bonds, 8.48% to 9.07%, due 2019 | 126 | 125 | 139 | |||||||||||||||||||||||||
Bishop Hill Holdings Senior Notes, 5.125%, due 2032 | 109 | 109 | 114 | |||||||||||||||||||||||||
Solar Star Funding Senior Notes, 5.375%, due 2035 | 1,000 | 1,000 | 1,000 | |||||||||||||||||||||||||
Topaz Solar Farms Senior Notes, 5.750%, due 2039 | 850 | 850 | 850 | |||||||||||||||||||||||||
Topaz Solar Farms Senior Notes, 4.875%, due 2039 | 250 | 250 | 250 | |||||||||||||||||||||||||
Other | 27 | 27 | 30 | |||||||||||||||||||||||||
Variable-rate(1): | ||||||||||||||||||||||||||||
Pinyon Pines I and II Term Loans, due 2019(2) | 401 | 401 | 417 | |||||||||||||||||||||||||
Wailuku Special Purpose Revenue Bonds, 0.09%, due 2021 | 9 | 9 | — | |||||||||||||||||||||||||
Total BHE Renewables | $ | 2,964 | $ | 2,967 | $ | 2,800 | ||||||||||||||||||||||
-1 | Amortizes quarterly or semiannually. | |||||||||||||||||||||||||||
-2 | The term loans have variable interest rates based on LIBOR plus a spread that varies during the term of the agreement. The weighted average variable interest rate as of December 31, 2014 and 2013 was 1.88% and 2.87%, respectively. The Company has entered into interest rate swaps that fix the interest rate on 75% of the outstanding debt. The weighted average fixed interest rate for the 75% portion is fixed at 3.55% and 4.53% as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||
Annual Repayments of Long-Term Debt | ||||||||||||||||||||||||||||
The annual repayments of BHE and subsidiary debt for the years beginning January 1, 2015 and thereafter, excluding fair value adjustments and unamortized premiums and discounts, are as follows (in millions): | ||||||||||||||||||||||||||||
2020 and | ||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | ||||||||||||||||||||||
BHE senior notes | $ | — | $ | — | $ | 400 | $ | 1,000 | $ | — | $ | 6,475 | $ | 7,875 | ||||||||||||||
BHE junior subordinated debentures | — | — | — | — | — | 3,794 | 3,794 | |||||||||||||||||||||
PacifiCorp | 157 | 71 | 58 | 589 | 353 | 5,874 | 7,102 | |||||||||||||||||||||
MidAmerican Funding | 426 | 34 | 254 | 350 | 500 | 2,832 | 4,396 | |||||||||||||||||||||
NV Energy | 265 | 673 | 16 | 840 | 519 | 2,780 | 5,093 | |||||||||||||||||||||
Northern Powergrid | — | — | — | 62 | 62 | 2,143 | 2,267 | |||||||||||||||||||||
BHE Pipeline Group | 185 | 191 | 62 | 329 | — | 600 | 1,367 | |||||||||||||||||||||
BHE Transmission | 78 | 129 | — | 172 | 172 | 3,184 | 3,735 | |||||||||||||||||||||
BHE Renewables | 121 | 168 | 172 | 179 | 463 | 1,861 | 2,964 | |||||||||||||||||||||
Totals | $ | 1,232 | $ | 1,266 | $ | 962 | $ | 3,521 | $ | 2,069 | $ | 29,543 | $ | 38,593 | ||||||||||||||
Income_Taxes_Notes
Income Taxes (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Income Taxes [Text Block] | (11) Income Taxes | |||||||||||
Income tax expense (benefit) consists of the following for the years ended December 31 (in millions): | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Current: | ||||||||||||
Federal | $ | (1,872 | ) | $ | (985 | ) | $ | (1,314 | ) | |||
State | (3 | ) | (2 | ) | (67 | ) | ||||||
Foreign | 129 | 121 | 121 | |||||||||
(1,746 | ) | (866 | ) | (1,260 | ) | |||||||
Deferred: | ||||||||||||
Federal | 2,296 | 1,306 | 1,475 | |||||||||
State | 37 | (247 | ) | (11 | ) | |||||||
Foreign | 11 | (59 | ) | (51 | ) | |||||||
2,344 | 1,000 | 1,413 | ||||||||||
Investment tax credits - the Utilities | (9 | ) | (4 | ) | (5 | ) | ||||||
Total | $ | 589 | $ | 130 | $ | 148 | ||||||
A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income before income tax expense is as follows for the years ended December 31: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Federal statutory income tax rate | 35 | % | 35 | % | 35 | % | ||||||
Income tax credits | (10 | ) | (14 | ) | (14 | ) | ||||||
State income tax, net of federal income tax benefit | 1 | (9 | ) | (3 | ) | |||||||
Income tax effect of foreign income | (3 | ) | (6 | ) | (7 | ) | ||||||
Equity income (loss) | 2 | (1 | ) | 2 | ||||||||
Other, net | (2 | ) | 2 | (4 | ) | |||||||
Effective income tax rate | 23 | % | 7 | % | 9 | % | ||||||
Income tax credits relate primarily to production tax credits earned by wind-powered generating facilities owned by MidAmerican Energy, PacifiCorp, and Bishop Hill Energy II LLC. Federal renewable electricity production tax credits are earned as energy from qualifying wind-powered generating facilities is produced and sold and are based on a per-kilowatt hour rate pursuant to the applicable federal income tax law. Wind-powered generating facilities are eligible for the credits for 10 years from the date the qualifying generating facilities are placed in-service. | ||||||||||||
State income tax benefits increased for 2013 compared to 2012 primarily due to one-time deferred income tax benefits recognized from a reduction in the apportioned state tax rate of $161 million, in part, as a result of BHE's acquisition of NV Energy. | ||||||||||||
Income tax effect of foreign income includes, among other items, deferred income tax benefits of $54 million in 2013 and $38 million in 2012 related to the enactment of reductions in the United Kingdom corporate income tax rate. In July 2013, the corporate income tax rate was reduced from 23% to 21% effective April 1, 2014, with a further reduction to 20% effective April 1, 2015. In July 2012, the corporate income tax rate was reduced from 25% to 24% effective April 1, 2012, with a further reduction to 23% effective April 1, 2013. | ||||||||||||
Berkshire Hathaway includes the Company in its United States federal income tax return. As of December 31, 2014 and 2013, the Company had current income taxes receivable from Berkshire Hathaway of $1.1 billion and $25 million, respectively. | ||||||||||||
The net deferred income tax liability consists of the following as of December 31 (in millions): | ||||||||||||
2014 | 2013 | |||||||||||
Deferred income tax assets: | ||||||||||||
Federal and state carryforwards | $ | 781 | $ | 1,001 | ||||||||
Regulatory liabilities | 812 | 825 | ||||||||||
AROs | 249 | 234 | ||||||||||
Employee benefits | 187 | 75 | ||||||||||
Derivative contracts | 62 | 28 | ||||||||||
Other | 781 | 740 | ||||||||||
Total deferred income tax assets | 2,872 | 2,903 | ||||||||||
Valuation allowances | (23 | ) | (29 | ) | ||||||||
Total deferred income tax assets, net | 2,849 | 2,874 | ||||||||||
Deferred income tax liabilities: | ||||||||||||
Property-related items | (11,989 | ) | (10,727 | ) | ||||||||
Regulatory assets | (1,374 | ) | (1,047 | ) | ||||||||
Investments | (699 | ) | (767 | ) | ||||||||
Other | (301 | ) | (287 | ) | ||||||||
Total deferred income tax liabilities | (14,363 | ) | (12,828 | ) | ||||||||
Net deferred income tax liability | $ | (11,514 | ) | $ | (9,954 | ) | ||||||
Reflected as: | ||||||||||||
Current assets - other | $ | 291 | $ | 211 | ||||||||
Current liabilities - other | (3 | ) | (7 | ) | ||||||||
Deferred income taxes | (11,802 | ) | (10,158 | ) | ||||||||
$ | (11,514 | ) | $ | (9,954 | ) | |||||||
The following table provides the Company's net operating loss and tax credit carryforwards and expiration dates as of December 31, 2014 (in millions): | ||||||||||||
Federal | State | |||||||||||
Net operating loss carryforwards(1) | $ | 409 | $ | 8,629 | ||||||||
Deferred income taxes on net operating loss carryforwards | $ | 155 | $ | 474 | ||||||||
Expiration dates | 2023-2034 | 2015-2034 | ||||||||||
Foreign and other tax credits(2) | $ | 122 | $ | 30 | ||||||||
Expiration dates | 2023- indefinite | 2016- indefinite | ||||||||||
-1 | The federal net operating loss carry forwards relate principally to net operating loss carryforwards of NV Energy generated prior to BHE's ownership. | |||||||||||
-2 | Includes $74 million of deferred foreign tax credits associated with the federal income tax on unremitted tax earnings and profit pools that will begin to be creditable and expire 10 years after the date the foreign earnings are repatriated through actual or deemed dividends. As of December 31, 2014 the statute of limitation had not begun on the foreign tax credit carryforwards. | |||||||||||
The United States Internal Revenue Service has effectively settled its examination of the Company's income tax returns through December 31, 2009. Most state tax agencies have closed their examinations of the Company's income tax returns through February 9, 2006, except for (i) Iowa, which is closed through December 31, 2012, (ii) Illinois, which is closed through December 31, 2008, and (iii) examinations of PacifiCorp's state returns, which have been closed through March 31, 2006 (except for the December 1995 and 1997 tax years in Utah and the March 2004, 2005 and 2006 tax years in Colorado and Utah). Examinations have been closed in the United Kingdom through at least 2010 and in the Philippines through at least 2010. | ||||||||||||
A reconciliation of the beginning and ending balances of the Company's net unrecognized tax benefits is as follows for the years ended December 31 (in millions): | ||||||||||||
2014 | 2013 | |||||||||||
Beginning balance | $ | 211 | $ | 223 | ||||||||
Additions based on tax positions related to the current year | 11 | 18 | ||||||||||
Additions for tax positions of prior years | 48 | 80 | ||||||||||
Reductions for tax positions of prior years | (50 | ) | (106 | ) | ||||||||
Statute of limitations | (1 | ) | 4 | |||||||||
Settlements | — | (10 | ) | |||||||||
Interest and penalties | 1 | 2 | ||||||||||
Ending balance | $ | 220 | $ | 211 | ||||||||
As of December 31, 2014 and 2013, the Company had unrecognized tax benefits totaling $188 million and $179 million, respectively, that if recognized, would have an impact on the effective tax rate. The remaining unrecognized tax benefits relate to tax positions for which ultimate deductibility is highly certain but for which there is uncertainty as to the timing of such deductibility. Recognition of these tax benefits, other than applicable interest and penalties, would not affect the Company's effective income tax rate. |
Employee_Benefit_Plans_Notes
Employee Benefit Plans (Notes) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Employee Benefit Plans [Abstract] | ||||||||||||||||||||||||
Employee Benefit Plans [Text Block] | (12) Employee Benefit Plans | |||||||||||||||||||||||
Defined Benefit Plans | ||||||||||||||||||||||||
Domestic Operations | ||||||||||||||||||||||||
The Utilities sponsor defined benefit pension plans that cover a majority of all employees of BHE and its domestic energy subsidiaries. These pension plans include noncontributory defined benefit pension plans, supplemental executive retirement plans ("SERP") and a restoration plan for certain executives of NV Energy. The Utilities also provide certain postretirement healthcare and life insurance benefits through various plans to eligible retirees. | ||||||||||||||||||||||||
Net Periodic Benefit Cost | ||||||||||||||||||||||||
For purposes of calculating the expected return on plan assets, a market-related value is used. The market-related value of plan assets is calculated by spreading the difference between expected and actual investment returns over a five-year period beginning after the first year in which they occur. | ||||||||||||||||||||||||
Net periodic benefit cost for the plans included the following components for the years ended December 31 (in millions): | ||||||||||||||||||||||||
Pension | Other Postretirement | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Service cost | $ | 36 | $ | 24 | $ | 25 | $ | 14 | $ | 14 | $ | 11 | ||||||||||||
Interest cost | 131 | 87 | 98 | 46 | 33 | 36 | ||||||||||||||||||
Expected return on plan assets | (164 | ) | (119 | ) | (119 | ) | (53 | ) | (44 | ) | (43 | ) | ||||||||||||
Net amortization | 44 | 58 | 37 | (3 | ) | 6 | 1 | |||||||||||||||||
Net periodic benefit cost | $ | 47 | $ | 50 | $ | 41 | $ | 4 | $ | 9 | $ | 5 | ||||||||||||
Funded Status | ||||||||||||||||||||||||
The following table is a reconciliation of the fair value of plan assets for the years ended December 31 (in millions): | ||||||||||||||||||||||||
Pension | Other Postretirement | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Plan assets at fair value, beginning of year | $ | 2,711 | $ | 1,655 | $ | 852 | $ | 650 | ||||||||||||||||
NV Energy Transaction | — | 818 | — | 110 | ||||||||||||||||||||
Employer contributions | 37 | 71 | 2 | 8 | ||||||||||||||||||||
Participant contributions | — | — | 11 | 8 | ||||||||||||||||||||
Actual return on plan assets | 188 | 359 | 54 | 127 | ||||||||||||||||||||
Benefits paid | (218 | ) | (192 | ) | (61 | ) | (51 | ) | ||||||||||||||||
Plan assets at fair value, end of year | $ | 2,718 | $ | 2,711 | $ | 858 | $ | 852 | ||||||||||||||||
The following table is a reconciliation of the benefit obligations for the years ended December 31 (in millions): | ||||||||||||||||||||||||
Pension | Other Postretirement | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Benefit obligation, beginning of year | $ | 2,821 | $ | 2,237 | $ | 987 | $ | 845 | ||||||||||||||||
NV Energy Transaction | — | 823 | — | 154 | ||||||||||||||||||||
Service cost | 36 | 24 | 14 | 14 | ||||||||||||||||||||
Interest cost | 131 | 87 | 46 | 33 | ||||||||||||||||||||
Participant contributions | — | — | 11 | 8 | ||||||||||||||||||||
Actuarial loss (gain) | 349 | (158 | ) | (61 | ) | (16 | ) | |||||||||||||||||
Benefits paid | (218 | ) | (192 | ) | (61 | ) | (51 | ) | ||||||||||||||||
Benefit obligation, end of year | $ | 3,119 | $ | 2,821 | $ | 936 | $ | 987 | ||||||||||||||||
Accumulated benefit obligation, end of year | $ | 3,086 | $ | 2,747 | ||||||||||||||||||||
In conjunction with the Utah Mine Disposition described in Note 6, in December 2014, Energy West Mining Company reached a labor settlement with the UMWA covering union employees at PacifiCorp’s Deer Creek mining operations. As a result of the labor settlement, the UMWA agreed to assume PacifiCorp's other postretirement benefit obligation associated with UMWA plan participants in exchange for PacifiCorp transferring $150 million to the UMWA. Transfer of the assets to the UMWA and settlement of this obligation is expected to occur in June 2015, which will result in a remeasurement of the other postretirement plan assets and benefit obligation. No curtailment accounting will be triggered as a result of the settlement due to an insignificant impact to the average remaining service lives in the plan. The actuarial gain associated with the other postretirement benefit obligation during the year ended December 31, 2014 includes a gain that reduced the benefit obligation resulting from the $150 million to be transferred to the UMWA in June 2015 as a result of the contractually binding labor settlement. | ||||||||||||||||||||||||
The funded status of the plans and the amounts recognized on the Consolidated Balance Sheets as of December 31 are as follows (in millions): | ||||||||||||||||||||||||
Pension | Other Postretirement | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Plan assets at fair value, end of year | $ | 2,718 | $ | 2,711 | $ | 858 | $ | 852 | ||||||||||||||||
Benefit obligation, end of year | 3,119 | 2,821 | 936 | 987 | ||||||||||||||||||||
Funded status | $ | (401 | ) | $ | (110 | ) | $ | (78 | ) | $ | (135 | ) | ||||||||||||
Amounts recognized on the Consolidated Balance Sheets: | ||||||||||||||||||||||||
Other assets | $ | 12 | $ | 98 | $ | 10 | $ | 21 | ||||||||||||||||
Other current liabilities | (14 | ) | (19 | ) | — | — | ||||||||||||||||||
Other long-term liabilities | (399 | ) | (189 | ) | (88 | ) | (156 | ) | ||||||||||||||||
Amounts recognized | $ | (401 | ) | $ | (110 | ) | $ | (78 | ) | $ | (135 | ) | ||||||||||||
The SERPs and restoration plan have no plan assets; however, the Company has Rabbi trusts that hold corporate-owned life insurance and other investments to provide funding for the future cash requirements of the SERPs and restoration plan. The cash surrender value of all of the policies included in the Rabbi trusts, net of amounts borrowed against the cash surrender value, plus the fair market value of other Rabbi trust investments, was $247 million and $235 million as of December 31, 2014 and 2013, respectively. These assets are not included in the plan assets in the above table, but are reflected in noncurrent investments and restricted cash and investments on the Consolidated Balance Sheets. | ||||||||||||||||||||||||
The fair value of plan assets, projected benefit obligation and accumulated benefit obligation for (1) pension and other postretirement benefit plans with a projected benefit obligation in excess of the fair value of plan assets and (2) pension plans with an accumulated benefit obligation in excess of the fair value of plan assets as of December 31 are as follows (in millions): | ||||||||||||||||||||||||
Pension | Other Postretirement | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Fair value of plan assets | $ | 1,987 | $ | 1,171 | $ | 598 | $ | 596 | ||||||||||||||||
Projected benefit obligation | $ | 2,401 | $ | 1,379 | $ | 686 | $ | 751 | ||||||||||||||||
Accumulated benefit obligation | $ | 2,380 | $ | 1,374 | ||||||||||||||||||||
Unrecognized Amounts | ||||||||||||||||||||||||
The portion of the funded status of the plans not yet recognized in net periodic benefit cost as of December 31 is as follows (in millions): | ||||||||||||||||||||||||
Pension | Other Postretirement | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Net loss | $ | 757 | $ | 487 | $ | 108 | $ | 183 | ||||||||||||||||
Prior service credit | (31 | ) | (42 | ) | (87 | ) | (102 | ) | ||||||||||||||||
Regulatory deferrals | (3 | ) | (4 | ) | 2 | 2 | ||||||||||||||||||
Total | $ | 723 | $ | 441 | $ | 23 | $ | 83 | ||||||||||||||||
A reconciliation of the amounts not yet recognized as components of net periodic benefit cost for the years ended December 31, 2014 and 2013 is as follows (in millions): | ||||||||||||||||||||||||
Accumulated | ||||||||||||||||||||||||
Other | ||||||||||||||||||||||||
Regulatory | Regulatory | Comprehensive | ||||||||||||||||||||||
Asset | Liability | Loss | Total | |||||||||||||||||||||
Pension | ||||||||||||||||||||||||
Balance, December 31, 2012 | $ | 712 | $ | — | $ | 25 | $ | 737 | ||||||||||||||||
NV Energy acquisition | 161 | — | — | 161 | ||||||||||||||||||||
Net gain arising during the year | (334 | ) | (51 | ) | (14 | ) | (399 | ) | ||||||||||||||||
Net amortization | (49 | ) | (7 | ) | (2 | ) | (58 | ) | ||||||||||||||||
Total | (222 | ) | (58 | ) | (16 | ) | (296 | ) | ||||||||||||||||
Balance, December 31, 2013 | 490 | (58 | ) | 9 | 441 | |||||||||||||||||||
Net loss arising during the year | 258 | 52 | 16 | 326 | ||||||||||||||||||||
Net amortization | (38 | ) | — | (6 | ) | (44 | ) | |||||||||||||||||
Total | 220 | 52 | 10 | 282 | ||||||||||||||||||||
Balance, December 31, 2014 | $ | 710 | $ | (6 | ) | $ | 19 | $ | 723 | |||||||||||||||
Regulatory | Regulatory | |||||||||||||||||||||||
Asset | Liability | Total | ||||||||||||||||||||||
Other Postretirement | ||||||||||||||||||||||||
Balance, December 31, 2012 | $ | 188 | $ | (13 | ) | $ | 175 | |||||||||||||||||
NV Energy Acquisition | 12 | — | 12 | |||||||||||||||||||||
Net gain arising during the year | (94 | ) | (4 | ) | (98 | ) | ||||||||||||||||||
Net amortization | (7 | ) | 1 | (6 | ) | |||||||||||||||||||
Total | (89 | ) | (3 | ) | (92 | ) | ||||||||||||||||||
Balance, December 31, 2013 | 99 | (16 | ) | 83 | ||||||||||||||||||||
Net (gain) loss arising during the year | (64 | ) | 1 | (63 | ) | |||||||||||||||||||
Net amortization | 2 | 1 | 3 | |||||||||||||||||||||
Total | (62 | ) | 2 | (60 | ) | |||||||||||||||||||
Balance, December 31, 2014 | $ | 37 | $ | (14 | ) | $ | 23 | |||||||||||||||||
The net loss, prior service credit and regulatory deferrals that will be amortized in 2015 into net periodic benefit cost are estimated to be as follows (in millions): | ||||||||||||||||||||||||
Net | Prior Service | Regulatory | ||||||||||||||||||||||
Loss | Credit | Deferrals | Total | |||||||||||||||||||||
Pension | $ | 65 | $ | (10 | ) | $ | (1 | ) | $ | 54 | ||||||||||||||
Other postretirement | 4 | (16 | ) | 1 | (11 | ) | ||||||||||||||||||
Total | $ | 69 | $ | (26 | ) | $ | — | $ | 43 | |||||||||||||||
Plan Assumptions | ||||||||||||||||||||||||
Weighted-average assumptions used to determine benefit obligations and net periodic benefit cost were as follows: | ||||||||||||||||||||||||
Pension | Other Postretirement | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Benefit obligations as of December 31: | ||||||||||||||||||||||||
Discount rate | 4 | % | 4.81 | % | 4.03 | % | 3.88 | % | 4.82 | % | 4.01 | % | ||||||||||||
Rate of compensation increase | 2.75 | % | 3 | % | 3 | % | N/A | N/A | N/A | |||||||||||||||
Net periodic benefit cost for the years ended December 31: | ||||||||||||||||||||||||
Discount rate | 4.81 | % | 4.03 | % | 4.84 | % | 4.82 | % | 4.01 | % | 4.9 | % | ||||||||||||
Expected return on plan assets | 6.86 | % | 7.5 | % | 7.5 | % | 7.34 | % | 7.44 | % | 7.5 | % | ||||||||||||
Rate of compensation increase | 3 | % | 3 | % | 3.5 | % | N/A | N/A | N/A | |||||||||||||||
In establishing its assumption as to the expected return on plan assets, the Company utilizes the expected asset allocation and return assumptions for each asset class based on historical performance and forward-looking views of the financial markets. | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Assumed healthcare cost trend rates as of December 31: | ||||||||||||||||||||||||
Healthcare cost trend rate assumed for next year | 8 | % | 7.88 | % | ||||||||||||||||||||
Rate that the cost trend rate gradually declines to | 5 | % | 4.96 | % | ||||||||||||||||||||
Year that the rate reaches the rate it is assumed to remain at | 2025 | 2019, 2029 | ||||||||||||||||||||||
A one percentage-point change in assumed healthcare cost trend rates would have the following effects (in millions): | ||||||||||||||||||||||||
One Percentage-Point | ||||||||||||||||||||||||
Increase | Decrease | |||||||||||||||||||||||
Increase (decrease) in: | ||||||||||||||||||||||||
Total service and interest cost for the year ended December 31, 2014 | $ | 4 | $ | (3 | ) | |||||||||||||||||||
Other postretirement benefit obligation as of December 31, 2014 | 7 | (6 | ) | |||||||||||||||||||||
Contributions and Benefit Payments | ||||||||||||||||||||||||
Employer contributions to the pension and other postretirement benefit plans are expected to be $34 million and $- million, respectively, during 2015. Funding to the established pension trusts is based upon the actuarially determined costs of the plans and the requirements of the Internal Revenue Code, the Employee Retirement Income Security Act of 1974 and the Pension Protection Act of 2006, as amended. The Company considers contributing additional amounts from time to time in order to achieve certain funding levels specified under the Pension Protection Act of 2006, as amended. The Company's funding policy for its other postretirement benefit plans is to generally contribute an amount equal to the net periodic benefit cost. | ||||||||||||||||||||||||
The expected benefit payments to participants in the Company's pension and other postretirement benefit plans for 2015 through 2019 and for the five years thereafter are summarized below (in millions): | ||||||||||||||||||||||||
Projected Benefit | ||||||||||||||||||||||||
Payments | ||||||||||||||||||||||||
Other | ||||||||||||||||||||||||
Pension | Postretirement | |||||||||||||||||||||||
2015 | $ | 216 | $ | 210 | ||||||||||||||||||||
2016 | 225 | 56 | ||||||||||||||||||||||
2017 | 223 | 56 | ||||||||||||||||||||||
2018 | 225 | 58 | ||||||||||||||||||||||
2019 | 225 | 58 | ||||||||||||||||||||||
2020-2024 | 1,073 | 283 | ||||||||||||||||||||||
Projected benefit payments for the other postretirement plan in 2015 include the $150 million to be transferred to the UMWA in June 2015 as a result of the contractually binding labor settlement with the UMWA. | ||||||||||||||||||||||||
Plan Assets | ||||||||||||||||||||||||
Investment Policy and Asset Allocations | ||||||||||||||||||||||||
The Company's investment policy for its pension and other postretirement benefit plans is to balance risk and return through a diversified portfolio of debt securities, equity securities and other alternative investments. Maturities for debt securities are managed to targets consistent with prudent risk tolerances. The plans retain outside investment advisors to manage plan investments within the parameters outlined by each plan's Pension and Employee Benefits Plans Administrative Committee. The investment portfolio is managed in line with the investment policy with sufficient liquidity to meet near-term benefit payments. The return on assets assumption for each plan is based on a weighted-average of the expected historical performance for the types of assets in which the plans invest. | ||||||||||||||||||||||||
The target allocations (percentage of plan assets) for the Company's pension and other postretirement benefit plan assets are as follows as of December 31, 2014: | ||||||||||||||||||||||||
Other | ||||||||||||||||||||||||
Pension | Postretirement | |||||||||||||||||||||||
% | % | |||||||||||||||||||||||
PacifiCorp: | ||||||||||||||||||||||||
Debt securities(1) | 33-37 | 33-37 | ||||||||||||||||||||||
Equity securities(1) | 53-57 | 61-65 | ||||||||||||||||||||||
Limited partnership interests | 12-Aug | 3-Jan | ||||||||||||||||||||||
Other | 0-1 | 0-1 | ||||||||||||||||||||||
MidAmerican Energy: | ||||||||||||||||||||||||
Debt securities(1) | 20-40 | 25-45 | ||||||||||||||||||||||
Equity securities(1) | 60-80 | 50-80 | ||||||||||||||||||||||
Real estate funds | 8-Feb | — | ||||||||||||||||||||||
Other | 0-5 | 0-5 | ||||||||||||||||||||||
NV Energy: | ||||||||||||||||||||||||
Debt securities(1) | 53-77 | 40 | ||||||||||||||||||||||
Equity securities(1) | 23-47 | 60 | ||||||||||||||||||||||
-1 | For purposes of target allocation percentages and consistent with the plans' investment policy, investment funds are allocated based on the underlying investments in debt and equity securities. | |||||||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||||||
The following table presents the fair value of plan assets, by major category, for the Company's defined benefit pension plans (in millions): | ||||||||||||||||||||||||
Input Levels for Fair Value Measurements(1) | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||
Cash equivalents | $ | 15 | $ | 54 | $ | — | $ | 69 | ||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United States government obligations | 166 | — | — | 166 | ||||||||||||||||||||
International government obligations | — | 11 | — | 11 | ||||||||||||||||||||
Corporate obligations | — | 268 | — | 268 | ||||||||||||||||||||
Municipal obligations | — | 27 | — | 27 | ||||||||||||||||||||
Agency, asset and mortgage-backed obligations | — | 94 | — | 94 | ||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
United States companies | 698 | — | — | 698 | ||||||||||||||||||||
International companies | 122 | — | — | 122 | ||||||||||||||||||||
Investment funds(2) | 301 | 852 | — | 1,153 | ||||||||||||||||||||
Limited partnership interests(3) | — | — | 70 | 70 | ||||||||||||||||||||
Real estate funds | — | — | 40 | 40 | ||||||||||||||||||||
Total | $ | 1,302 | $ | 1,306 | $ | 110 | $ | 2,718 | ||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||
Cash equivalents | $ | 2 | $ | 78 | $ | — | $ | 80 | ||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United States government obligations | 129 | — | — | 129 | ||||||||||||||||||||
International government obligations | — | 4 | — | 4 | ||||||||||||||||||||
Corporate obligations | — | 242 | — | 242 | ||||||||||||||||||||
Municipal obligations | — | 28 | — | 28 | ||||||||||||||||||||
Agency, asset and mortgage-backed obligations | — | 132 | — | 132 | ||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
United States companies | 709 | — | — | 709 | ||||||||||||||||||||
International companies | 133 | — | — | 133 | ||||||||||||||||||||
Investment funds(2) | 320 | 817 | — | 1,137 | ||||||||||||||||||||
Limited partnership interests(3) | — | — | 86 | 86 | ||||||||||||||||||||
Real estate funds | — | — | 31 | 31 | ||||||||||||||||||||
Total | $ | 1,293 | $ | 1,301 | $ | 117 | $ | 2,711 | ||||||||||||||||
-1 | Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy. | |||||||||||||||||||||||
-2 | Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 61% and 39%, respectively, for 2014 and 60% and 40%, respectively, for 2013. Additionally, these funds are invested in United States and international securities of approximately 64% and 36%, respectively, for 2014 and 65% and 35%, respectively, for 2013. | |||||||||||||||||||||||
-3 | Limited partnership interests include several funds that invest primarily in buyout, growth equity and venture capital. | |||||||||||||||||||||||
The following table presents the fair value of plan assets, by major category, for the Company's defined benefit other postretirement plans (in millions): | ||||||||||||||||||||||||
Input Levels for Fair Value Measurements(1) | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||
Cash equivalents(2) | $ | 145 | $ | 1 | $ | — | $ | 146 | ||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United States government obligations | 17 | — | — | 17 | ||||||||||||||||||||
Corporate obligations | — | 34 | — | 34 | ||||||||||||||||||||
Municipal obligations | — | 43 | — | 43 | ||||||||||||||||||||
Agency, asset and mortgage-backed obligations | — | 31 | — | 31 | ||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
United States companies | 243 | — | — | 243 | ||||||||||||||||||||
International companies | 6 | — | — | 6 | ||||||||||||||||||||
Investment funds(3) | 202 | 131 | — | 333 | ||||||||||||||||||||
Limited partnership interests(4) | — | — | 5 | 5 | ||||||||||||||||||||
Total | $ | 613 | $ | 240 | $ | 5 | $ | 858 | ||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||
Cash equivalents | $ | 5 | $ | 4 | $ | — | $ | 9 | ||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United States government obligations | 11 | — | — | 11 | ||||||||||||||||||||
Corporate obligations | — | 18 | — | 18 | ||||||||||||||||||||
Municipal obligations | — | 38 | — | 38 | ||||||||||||||||||||
Agency, asset and mortgage-backed obligations | — | 19 | — | 19 | ||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
United States companies | 294 | — | — | 294 | ||||||||||||||||||||
International companies | 8 | — | — | 8 | ||||||||||||||||||||
Investment funds(3) | 296 | 153 | — | 449 | ||||||||||||||||||||
Limited partnership interests(4) | — | — | 6 | 6 | ||||||||||||||||||||
Total | $ | 614 | $ | 232 | $ | 6 | $ | 852 | ||||||||||||||||
-1 | Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy. | |||||||||||||||||||||||
-2 | In December 2014, PacifiCorp began to migrate funds to cash and cash equivalents in anticipation of the $150 million to be transferred to the UMWA in June 2015 as a result of the other postretirement settlement. Remaining investments were rebalanced to align to PacifiCorp's target investment allocations. | |||||||||||||||||||||||
-3 | Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 63% and 37%, respectively, for 2014 and 57% and 43%, respectively, for 2013. Additionally, these funds are invested in United States and international securities of approximately 69% and 31%, respectively, for 2014 and 72% and 28%, respectively, for 2013. | |||||||||||||||||||||||
-4 | Limited partnership interests include several funds that invest primarily in buyout, growth equity and venture capital. | |||||||||||||||||||||||
When available, a readily observable quoted market price or net asset value of an identical security in an active market is used to record the fair value. In the absence of a quoted market price or net asset value of an identical security, the fair value is determined using pricing models or net asset values based on observable market inputs and quoted market prices of securities with similar characteristics. When observable market data is not available, the fair value is determined using unobservable inputs, such as estimated future cash flows, purchase multiples paid in other comparable third-party transactions or other information. Investments in limited partnerships are valued at estimated fair value based on the Plan's proportionate share of the partnerships' fair value as recorded in the partnerships' most recently available financial statements adjusted for recent activity and forecasted returns. The fair values recorded in the partnerships' financial statements are generally determined based on closing public market prices for publicly traded securities and as determined by the general partners for other investments based on factors including estimated future cash flows, purchase multiples paid in other comparable third-party transactions, comparable public company trading multiples and other information. The real estate funds determine fair value of their underlying assets using independent appraisals given there is no current liquid market for the underlying assets. | ||||||||||||||||||||||||
The following table reconciles the beginning and ending balances of the Company's plan assets measured at fair value using significant Level 3 inputs for the years ended December 31 (in millions): | ||||||||||||||||||||||||
Other | ||||||||||||||||||||||||
Pension | Postretirement- | |||||||||||||||||||||||
Limited | Real | Limited | ||||||||||||||||||||||
Partnership | Estate | Partnership | ||||||||||||||||||||||
Interests | Funds | Interests | ||||||||||||||||||||||
Balance, December 31, 2011 | $ | 71 | $ | 24 | $ | 6 | ||||||||||||||||||
Actual return on plan assets still held at period end | 7 | 2 | 1 | |||||||||||||||||||||
Purchases, sales, distributions and settlements | 18 | — | — | |||||||||||||||||||||
Balance, December 31, 2012 | 96 | 26 | 7 | |||||||||||||||||||||
Actual return on plan assets still held at period end | 16 | 5 | 1 | |||||||||||||||||||||
Purchases, sales, distributions and settlements | (26 | ) | — | (2 | ) | |||||||||||||||||||
Balance, December 31, 2013 | 86 | 31 | 6 | |||||||||||||||||||||
Actual return on plan assets still held at period end | (1 | ) | 4 | — | ||||||||||||||||||||
Purchases, sales, distributions and settlements | (15 | ) | 5 | (1 | ) | |||||||||||||||||||
Balance, December 31, 2014 | $ | 70 | $ | 40 | $ | 5 | ||||||||||||||||||
Foreign Operations | ||||||||||||||||||||||||
Certain wholly-owned subsidiaries of Northern Powergrid participate in the Northern Powergrid group of the United Kingdom industry-wide Electricity Supply Pension Scheme (the "UK Plan"), which provides pension and other related defined benefits, based on final pensionable pay, to the majority of the employees of Northern Powergrid. The UK Plan is closed to employees hired after July 23, 1997. Employees hired after that date are covered by a defined contribution plan sponsored by a wholly-owned subsidiary of Northern Powergrid. | ||||||||||||||||||||||||
Net Periodic Benefit Cost | ||||||||||||||||||||||||
For purposes of calculating the expected return on pension plan assets, a market-related value is used. The market-related value of plan assets is calculated by spreading the difference between expected and actual investment returns over a five-year period beginning after the first year in which they occur. | ||||||||||||||||||||||||
Net periodic benefit cost for the UK Plan included the following components for the years ended December 31 (in millions): | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Service cost | $ | 24 | $ | 22 | $ | 19 | ||||||||||||||||||
Interest cost | 95 | 85 | 85 | |||||||||||||||||||||
Expected return on plan assets | (124 | ) | (101 | ) | (104 | ) | ||||||||||||||||||
Net amortization | 51 | 53 | 43 | |||||||||||||||||||||
Net periodic benefit cost | $ | 46 | $ | 59 | $ | 43 | ||||||||||||||||||
Funded Status | ||||||||||||||||||||||||
The following table is a reconciliation of the fair value of plan assets for the years ended December 31 (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Plan assets at fair value, beginning of year | $ | 2,177 | $ | 1,996 | ||||||||||||||||||||
Employer contributions | 89 | 79 | ||||||||||||||||||||||
Participant contributions | 2 | 3 | ||||||||||||||||||||||
Actual return on plan assets | 337 | 138 | ||||||||||||||||||||||
Benefits paid | (92 | ) | (83 | ) | ||||||||||||||||||||
Foreign currency exchange rate changes | (145 | ) | 44 | |||||||||||||||||||||
Plan assets at fair value, end of year | $ | 2,368 | $ | 2,177 | ||||||||||||||||||||
The following table is a reconciliation of the benefit obligation for the years ended December 31 (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Benefit obligation, beginning of year | $ | 2,185 | $ | 2,047 | ||||||||||||||||||||
Service cost | 24 | 22 | ||||||||||||||||||||||
Interest cost | 95 | 85 | ||||||||||||||||||||||
Participant contributions | 2 | 3 | ||||||||||||||||||||||
Actuarial loss | 205 | 70 | ||||||||||||||||||||||
Benefits paid | (92 | ) | (83 | ) | ||||||||||||||||||||
Foreign currency exchange rate changes | (140 | ) | 41 | |||||||||||||||||||||
Benefit obligation, end of year | $ | 2,279 | $ | 2,185 | ||||||||||||||||||||
Accumulated benefit obligation, end of year | $ | 2,019 | $ | 1,917 | ||||||||||||||||||||
The funded status of the UK Plan and the amounts recognized on the Consolidated Balance Sheets as of December 31 are as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Plan assets at fair value, end of year | $ | 2,368 | $ | 2,177 | ||||||||||||||||||||
Benefit obligation, end of year | 2,279 | 2,185 | ||||||||||||||||||||||
Funded status | $ | 89 | $ | (8 | ) | |||||||||||||||||||
Amounts recognized on the Consolidated Balance Sheets: | ||||||||||||||||||||||||
Other assets | $ | 89 | $ | — | ||||||||||||||||||||
Other long-term liabilities | — | (8 | ) | |||||||||||||||||||||
Amounts recognized | $ | 89 | $ | (8 | ) | |||||||||||||||||||
Unrecognized Amounts | ||||||||||||||||||||||||
The portion of the funded status of the UK Plan not yet recognized in net periodic benefit cost as of December 31 is as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Net loss | $ | 655 | $ | 750 | ||||||||||||||||||||
Prior service cost | — | 1 | ||||||||||||||||||||||
Total | $ | 655 | $ | 751 | ||||||||||||||||||||
A reconciliation of the amounts not yet recognized as components of net periodic benefit cost, which are included in accumulated other comprehensive loss on the Consolidated Balance Sheets, for the years ended December 31 is as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Balance, beginning of year | $ | 751 | $ | 759 | ||||||||||||||||||||
Net (gain) loss arising during the year | (8 | ) | 32 | |||||||||||||||||||||
Net amortization | (51 | ) | (53 | ) | ||||||||||||||||||||
Foreign currency exchange rate changes | (37 | ) | 13 | |||||||||||||||||||||
Total | (96 | ) | (8 | ) | ||||||||||||||||||||
Balance, end of year | $ | 655 | $ | 751 | ||||||||||||||||||||
The net loss that will be amortized from accumulated other comprehensive loss in 2015 into net periodic benefit cost is estimated to be $63 million. | ||||||||||||||||||||||||
Plan Assumptions | ||||||||||||||||||||||||
Assumptions used to determine benefit obligations and net periodic benefit cost were as follows: | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Benefit obligations as of December 31: | ||||||||||||||||||||||||
Discount rate | 3.6 | % | 4.4 | % | 4.4 | % | ||||||||||||||||||
Rate of compensation increase | 2.8 | % | 3.15 | % | 2.8 | % | ||||||||||||||||||
Rate of future price inflation | 2.8 | % | 3.15 | % | 2.8 | % | ||||||||||||||||||
Net periodic benefit cost for the years ended December 31: | ||||||||||||||||||||||||
Discount rate | 4.4 | % | 4.4 | % | 4.8 | % | ||||||||||||||||||
Expected return on plan assets | 6.1 | % | 5.7 | % | 6.1 | % | ||||||||||||||||||
Rate of compensation increase | 3.15 | % | 2.8 | % | 2.8 | % | ||||||||||||||||||
Rate of future price inflation | 3.15 | % | 2.8 | % | 2.8 | % | ||||||||||||||||||
Contributions and Benefit Payments | ||||||||||||||||||||||||
Employer contributions to the UK Plan are expected to be £50 million during 2015. The expected benefit payments to participants in the UK Plan for 2015 through 2019 and for the five years thereafter, using the foreign currency exchange rate as of December 31, 2014, are summarized below (in millions): | ||||||||||||||||||||||||
2015 | $ | 89 | ||||||||||||||||||||||
2016 | 91 | |||||||||||||||||||||||
2017 | 93 | |||||||||||||||||||||||
2018 | 95 | |||||||||||||||||||||||
2019 | 97 | |||||||||||||||||||||||
2020-2024 | 553 | |||||||||||||||||||||||
Plan Assets | ||||||||||||||||||||||||
Investment Policy and Asset Allocations | ||||||||||||||||||||||||
The investment policy for the UK Plan is to balance risk and return through a diversified portfolio of debt securities, equity securities and real estate. Maturities for debt securities are managed to targets consistent with prudent risk tolerances. The UK Plan retains outside investment advisors to manage plan investments within the parameters set by the trustees of the UK Plan in consultation with Northern Powergrid. The investment portfolio is managed in line with the investment policy with sufficient liquidity to meet near-term benefit payments. The return on assets assumption is based on a weighted-average of the expected historical performance for the types of assets in which the UK Plan invests. | ||||||||||||||||||||||||
The target allocations (percentage of plan assets) for the UK Plan assets are as follows as of December 31, 2014: | ||||||||||||||||||||||||
% | ||||||||||||||||||||||||
Debt securities(1) | 50-55 | |||||||||||||||||||||||
Equity securities(1) | 35-40 | |||||||||||||||||||||||
Real estate funds | 15-May | |||||||||||||||||||||||
-1 | For purposes of target allocation percentages and consistent with the plans' investment policy, investment funds have been allocated based on the underlying investments in debt and equity securities. | |||||||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||||||
The following table presents the fair value of the UK Plan assets, by major category, (in millions): | ||||||||||||||||||||||||
Input Levels for Fair Value Measurements(1) | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||
Cash equivalents | $ | 43 | $ | — | $ | — | $ | 43 | ||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United Kingdom government obligations | 452 | — | — | 452 | ||||||||||||||||||||
Other international government obligations | — | 14 | — | 14 | ||||||||||||||||||||
Corporate obligations | — | 196 | — | 196 | ||||||||||||||||||||
Investment funds(2) | 114 | 1,350 | — | 1,464 | ||||||||||||||||||||
Real estate funds | — | — | 199 | 199 | ||||||||||||||||||||
Total | $ | 609 | $ | 1,560 | $ | 199 | $ | 2,368 | ||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||
Cash equivalents | $ | 23 | $ | — | $ | — | $ | 23 | ||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United States government obligations | 5 | — | — | 5 | ||||||||||||||||||||
United Kingdom government obligations | 375 | — | — | 375 | ||||||||||||||||||||
Other international government obligations | — | 2 | — | 2 | ||||||||||||||||||||
Corporate obligations | — | 206 | — | 206 | ||||||||||||||||||||
Investment funds(2) | 122 | 1,265 | — | 1,387 | ||||||||||||||||||||
Real estate funds | — | — | 179 | 179 | ||||||||||||||||||||
Total | $ | 525 | $ | 1,473 | $ | 179 | $ | 2,177 | ||||||||||||||||
-1 | Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy. | |||||||||||||||||||||||
-2 | Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 44% and 56%, respectively, for 2014 and 45% and 55%, respectively, for 2013. | |||||||||||||||||||||||
The fair value of the UK Plan's assets are determined similar to the plan assets of the domestic plans as previously discussed. | ||||||||||||||||||||||||
The following table reconciles the beginning and ending balances of the UK Plan assets measured at fair value using significant Level 3 inputs for the years ended December 31 (in millions): | ||||||||||||||||||||||||
Real Estate Funds | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Beginning balance | $ | 179 | $ | 163 | $ | 158 | ||||||||||||||||||
Actual return on plan assets still held at period end | 33 | 12 | (3 | ) | ||||||||||||||||||||
Foreign currency exchange rate changes | (13 | ) | 4 | 8 | ||||||||||||||||||||
Ending balance | $ | 199 | $ | 179 | $ | 163 | ||||||||||||||||||
Defined Contribution Plans | ||||||||||||||||||||||||
The Company sponsors various defined contribution plans covering substantially all employees. The Company's contributions vary depending on the plan, but are based primarily on each participant's level of contribution and cannot exceed the maximum allowable for tax purposes. Certain employees now receive enhanced benefits in these plans and no longer accrue benefits in the noncontributory defined benefit pension plans. The Company's contributions to these plans were $83 million, $63 million and $62 million for the years ended December 31, 2014, 2013 and 2012, respectively. |
Asset_Retirement_Obligations_N
Asset Retirement Obligations (Notes) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Asset Retirement Obligation Disclosure [Abstract] | ||||||||
Asset Retirement Obligations [Text Block] | ||||||||
-13 | Asset Retirement Obligations | |||||||
The Company estimates its ARO liabilities based upon detailed engineering calculations of the amount and timing of the future cash spending for a third party to perform the required work. Spending estimates are escalated for inflation and then discounted at a credit-adjusted, risk-free rate. Changes in estimates could occur for a number of reasons, including changes in laws and regulations, plan revisions, inflation and changes in the amount and timing of the expected work. | ||||||||
The Company does not recognize liabilities for AROs for which the fair value cannot be reasonably estimated. Due to the indeterminate removal date, the fair value of the associated liabilities on certain generation, transmission, distribution and other assets cannot currently be estimated, and no amounts are recognized on the Consolidated Financial Statements other than those included in the cost of removal regulatory liability established via approved depreciation rates in accordance with accepted regulatory practices. These accruals totaled $2.2 billion and $2.0 billion as of December 31, 2014 and 2013, respectively. | ||||||||
The following table presents the Company's ARO liabilities by asset type as of December 31 (in millions): | ||||||||
2014 | 2013 | |||||||
Fossil fuel facilities | $ | 334 | $ | 315 | ||||
Quad Cities Station | 265 | 254 | ||||||
Wind generating facilities | 75 | 59 | ||||||
Offshore pipeline facilities | 31 | 35 | ||||||
Solar generating facilities | 9 | 5 | ||||||
Other | 39 | 28 | ||||||
Total asset retirement obligations | $ | 753 | $ | 696 | ||||
Quad Cities Station nuclear decommissioning trust funds | $ | 424 | $ | 394 | ||||
The following table reconciles the beginning and ending balances of the Company's ARO liabilities for the years ended December 31 (in millions): | ||||||||
2014 | 2013 | |||||||
Beginning balance | $ | 696 | $ | 490 | ||||
Acquisitions | 12 | 80 | ||||||
Change in estimated costs | 3 | 88 | ||||||
Additions | 15 | 18 | ||||||
Retirements | (8 | ) | (6 | ) | ||||
Accretion | 35 | 26 | ||||||
Ending balance | $ | 753 | $ | 696 | ||||
Reflected as: | ||||||||
Other current liabilities | $ | 66 | $ | 18 | ||||
Other long-term liabilities | 687 | 678 | ||||||
Total ARO liability | $ | 753 | $ | 696 | ||||
The Nuclear Regulatory Commission regulates the decommissioning of nuclear power plants, which includes the planning and funding for the decommissioning. In accordance with these regulations, MidAmerican Energy submits a biennial report to the Nuclear Regulatory Commission providing reasonable assurance that funds will be available to pay for its share of the Quad Cities Station decommissioning. The decommissioning costs are included in base rates in MidAmerican Energy's Iowa tariffs. | ||||||||
The 2013 change in estimated costs is primarily due to an increase of $98 million in ARO liabilities as a result of changes in the amount and timing of cash flow for ash pond closures at some of MidAmerican Energy's thermal generating facilities. | ||||||||
Certain of the Company's decommissioning and reclamation obligations relate to jointly owned facilities and mine sites, and as such, each subsidiary is committed to pay a proportionate share of the decommissioning or reclamation costs. In the event of a default by any of the other joint participants, the respective subsidiary may be obligated to absorb, directly or by paying additional sums to the entity, a proportionate share of the defaulting party's liability. The Company's estimated share of the decommissioning and reclamation obligations are primarily recorded as ARO liabilities. | ||||||||
In December 2014, the Environmental Protection Agency released its final rule regulating the management and disposal of coal combustion byproducts resulting from the operation of coal-fueled generating facilities, including requirements for the operation and closure of surface impoundment and ash landfill facilities. The final rule will be effective 180 days after it is published in the Federal Register. Under the final rule, surface impoundments and landfills utilized for coal combustion byproducts may need to be closed unless they can meet the more stringent regulatory requirements. The Company is currently evaluating the requirements and costs of the new rule and cannot determine the impact on its ARO liabilities at this time. |
Risk_Management_and_Hedging_Ac
Risk Management and Hedging Activities (Notes) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||
Risk Management and Hedging Activities [Text Block] | (14) Risk Management and Hedging Activities | |||||||||||||||||||
The Company is exposed to the impact of market fluctuations in commodity prices, interest rates and foreign currency exchange rates. The Company is principally exposed to electricity, natural gas, coal and fuel oil commodity price risk primarily through BHE's ownership of the Utilities as they have an obligation to serve retail customer load in their regulated service territories. MidAmerican Energy also provides nonregulated retail electricity and natural gas services in competitive markets. The Utilities' load and generating facilities represent substantial underlying commodity positions. Exposures to commodity prices consist mainly of variations in the price of fuel required to generate electricity, wholesale electricity that is purchased and sold, and natural gas supply for retail customers. Commodity prices are subject to wide price swings as supply and demand are impacted by, among many other unpredictable items, weather, market liquidity, generating facility availability, customer usage, storage, and transmission and transportation constraints. Interest rate risk exists on variable-rate debt, future debt issuances and mortgage commitments. Additionally, the Company is exposed to foreign currency exchange rate risk from its business operations and investments in Great Britain and Canada. The Company does not engage in a material amount of proprietary trading activities. | ||||||||||||||||||||
Each of the Company's business platforms has established a risk management process that is designed to identify, assess, monitor, report, manage and mitigate each of the various types of risk involved in its business. To mitigate a portion of its commodity price risk, the Company uses commodity derivative contracts, which may include forwards, futures, options, swaps and other agreements, to effectively secure future supply or sell future production generally at fixed prices. The Company manages its interest rate risk by limiting its exposure to variable interest rates primarily through the issuance of fixed-rate long-term debt and by monitoring market changes in interest rates. Additionally, the Company may from time to time enter into interest rate derivative contracts, such as interest rate swaps or locks, forward sale commitments, or mortgage interest rate lock commitments, to mitigate the Company's exposure to interest rate risk. The Company does not hedge all of its commodity price, interest rate and foreign currency exchange rate risks, thereby exposing the unhedged portion to changes in market prices. | ||||||||||||||||||||
There have been no significant changes in the Company's accounting policies related to derivatives. Refer to Notes 2, 6 and 15 for additional information on derivative contracts. | ||||||||||||||||||||
The following table, which reflects master netting arrangements and excludes contracts that have been designated as normal under the normal purchases or normal sales exception afforded by GAAP, summarizes the fair value of the Company's derivative contracts, on a gross basis, and reconciles those amounts to the amounts presented on a net basis on the Consolidated Balance Sheets (in millions): | ||||||||||||||||||||
Other | Other | Other | ||||||||||||||||||
Current | Other | Current | Long-term | |||||||||||||||||
Assets | Assets | Liabilities | Liabilities | Total | ||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||
Not designated as hedging contracts: | ||||||||||||||||||||
Commodity assets(1) | $ | 47 | $ | 66 | $ | 21 | $ | 1 | $ | 135 | ||||||||||
Commodity liabilities(1) | (11 | ) | — | (146 | ) | (134 | ) | (291 | ) | |||||||||||
Interest rate assets | 4 | — | — | — | 4 | |||||||||||||||
Interest rate liabilities | — | — | (2 | ) | (4 | ) | (6 | ) | ||||||||||||
Total | 40 | 66 | (127 | ) | (137 | ) | (158 | ) | ||||||||||||
Designated as hedging contracts: | ||||||||||||||||||||
Commodity assets | 1 | — | 5 | 2 | 8 | |||||||||||||||
Commodity liabilities | — | — | (27 | ) | (17 | ) | (44 | ) | ||||||||||||
Interest rate assets | — | 1 | — | — | 1 | |||||||||||||||
Interest rate liabilities | — | — | (4 | ) | — | (4 | ) | |||||||||||||
Total | 1 | 1 | (26 | ) | (15 | ) | (39 | ) | ||||||||||||
Total derivatives | 41 | 67 | (153 | ) | (152 | ) | (197 | ) | ||||||||||||
Cash collateral (payable) receivable | — | — | 56 | 19 | 75 | |||||||||||||||
Total derivatives - net basis | $ | 41 | $ | 67 | $ | (97 | ) | $ | (133 | ) | $ | (122 | ) | |||||||
As of December 31, 2013 | ||||||||||||||||||||
Not designated as hedging contracts: | ||||||||||||||||||||
Commodity assets(1) | $ | 16 | $ | 62 | $ | 18 | $ | 2 | $ | 98 | ||||||||||
Commodity liabilities(1) | (2 | ) | (1 | ) | (78 | ) | (145 | ) | (226 | ) | ||||||||||
Interest rate assets | 3 | 5 | — | — | 8 | |||||||||||||||
Interest rate liabilities | — | — | (1 | ) | — | (1 | ) | |||||||||||||
Total | 17 | 66 | (61 | ) | (143 | ) | (121 | ) | ||||||||||||
Designated as hedging contracts: | ||||||||||||||||||||
Commodity assets | 1 | — | 1 | — | 2 | |||||||||||||||
Commodity liabilities | (1 | ) | — | (5 | ) | (8 | ) | (14 | ) | |||||||||||
Interest rate assets | — | 6 | — | — | 6 | |||||||||||||||
Interest rate liabilities | — | — | (6 | ) | — | (6 | ) | |||||||||||||
Total | — | 6 | (10 | ) | (8 | ) | (12 | ) | ||||||||||||
Total derivatives | 17 | 72 | (71 | ) | (151 | ) | (133 | ) | ||||||||||||
Cash collateral receivable | (2 | ) | — | 1 | 13 | 12 | ||||||||||||||
Total derivatives - net basis | $ | 15 | $ | 72 | $ | (70 | ) | $ | (138 | ) | $ | (121 | ) | |||||||
-1 | The Company's commodity derivatives not designated as hedging contracts are generally included in regulated rates, and as of December 31, 2014 and 2013, a net regulatory asset of $223 million and $182 million, respectively, was recorded related to the net derivative liability of $156 million and $128 million, respectively. | |||||||||||||||||||
Not Designated as Hedging Contracts | ||||||||||||||||||||
The following table reconciles the beginning and ending balances of the Company's net regulatory assets and summarizes the pre-tax gains and losses on commodity derivative contracts recognized in net regulatory assets, as well as amounts reclassified to earnings for the years ended December 31 (in millions): | ||||||||||||||||||||
Commodity Derivatives | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
Beginning balance | $ | 182 | $ | 235 | $ | 400 | ||||||||||||||
NV Energy Transaction | — | 47 | — | |||||||||||||||||
Changes in fair value recognized in net regulatory assets | 96 | 29 | 69 | |||||||||||||||||
Net (losses) gains reclassified to operating revenue | (32 | ) | 8 | 63 | ||||||||||||||||
Net losses reclassified to cost of sales | (23 | ) | (137 | ) | (297 | ) | ||||||||||||||
Ending balance | $ | 223 | $ | 182 | $ | 235 | ||||||||||||||
Designated as Hedging Contracts | ||||||||||||||||||||
The Company uses commodity derivative contracts accounted for as cash flow hedges to hedge electricity and natural gas commodity prices for delivery to nonregulated customers, spring operational sales, natural gas storage and other transactions. The following table reconciles the beginning and ending balances of the Company's AOCI (pre-tax) and summarizes pre-tax gains and losses on commodity derivative contracts designated and qualifying as cash flow hedges recognized in OCI, as well as amounts reclassified to earnings for the years ended December 31 (in millions): | ||||||||||||||||||||
Commodity Derivatives | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
Beginning balance | $ | 12 | $ | 32 | $ | 46 | ||||||||||||||
Changes in fair value recognized in OCI | (6 | ) | (9 | ) | 20 | |||||||||||||||
Net gains reclassified to operating revenue | — | — | 4 | |||||||||||||||||
Net gains (losses) reclassified to cost of sales | 26 | (11 | ) | (38 | ) | |||||||||||||||
Ending balance | $ | 32 | $ | 12 | $ | 32 | ||||||||||||||
Certain derivative contracts, principally interest rate locks, have settled and the fair value at the date of settlement remains in AOCI and is recognized in earnings when the forecasted transactions impact earnings. Realized gains and losses on hedges and hedge ineffectiveness are recognized in income as operating revenue, cost of sales, operating expense or interest expense depending upon the nature of the item being hedged. For the years ended December 31, 2014, 2013 and 2012, hedge ineffectiveness was insignificant. As of December 31, 2014, the Company had cash flow hedges with expiration dates extending through December 2019 and $22 million of pre-tax unrealized losses are forecasted to be reclassified from AOCI into earnings over the next twelve months as contracts settle. | ||||||||||||||||||||
Derivative Contract Volumes | ||||||||||||||||||||
The following table summarizes the net notional amounts of outstanding derivative contracts with fixed price terms that comprise the mark-to-market values as of December 31 (in millions): | ||||||||||||||||||||
Unit of | ||||||||||||||||||||
Measure | 2014 | 2013 | ||||||||||||||||||
Electricity purchases (sales) | Megawatt hours | 6 | (5 | ) | ||||||||||||||||
Natural gas purchases | Decatherms | 308 | 322 | |||||||||||||||||
Fuel purchases | Gallons | 2 | 9 | |||||||||||||||||
Interest rate swaps | US$ | 443 | 650 | |||||||||||||||||
Mortgage sale commitments, net | US$ | (264 | ) | (121 | ) | |||||||||||||||
Credit Risk | ||||||||||||||||||||
The Utilities are exposed to counterparty credit risk associated with wholesale energy supply and marketing activities with other utilities, energy marketing companies, financial institutions and other market participants. Additionally, MidAmerican Energy participates in the regional transmission organization ("RTO") markets and has indirect credit exposure related to other participants, although RTO credit policies are designed to limit exposure to credit losses from individual participants. Credit risk may be concentrated to the extent the Utilities' counterparties have similar economic, industry or other characteristics and due to direct or indirect relationships among the counterparties. Before entering into a transaction, the Utilities analyze the financial condition of each significant wholesale counterparty, establish limits on the amount of unsecured credit to be extended to each counterparty and evaluate the appropriateness of unsecured credit limits on an ongoing basis. To further mitigate wholesale counterparty credit risk, the Utilities enter into netting and collateral arrangements that may include margining and cross-product netting agreements and obtain third-party guarantees, letters of credit and cash deposits. If required, the Utilities exercise rights under these arrangements, including calling on the counterparty's credit support arrangement. | ||||||||||||||||||||
Collateral and Contingent Features | ||||||||||||||||||||
In accordance with industry practice, certain wholesale derivative contracts contain credit support provisions that in part base certain collateral requirements on credit ratings for senior unsecured debt as reported by one or more of the three recognized credit rating agencies. These derivative contracts may either specifically provide bilateral rights to demand cash or other security if credit exposures on a net basis exceed specified rating-dependent threshold levels ("credit-risk-related contingent features") or provide the right for counterparties to demand "adequate assurance," or in some cases terminate the contract, in the event of a material adverse change in creditworthiness. These rights can vary by contract and by counterparty. As of December 31, 2014, the applicable credit ratings from the three recognized credit rating agencies were investment grade. | ||||||||||||||||||||
The aggregate fair value of the Company's derivative contracts in liability positions with specific credit-risk-related contingent features totaled $243 million and $176 million as of December 31, 2014 and 2013, respectively, for which the Company had posted collateral of $28 million and $12 million, respectively, in the form of cash deposits. If all credit-risk-related contingent features for derivative contracts in liability positions had been triggered as of December 31, 2014 and 2013, the Company would have been required to post $182 million and $147 million, respectively, of additional collateral. The Company's collateral requirements could fluctuate considerably due to market price volatility, changes in credit ratings, changes in legislation or regulation, or other factors. |
Fair_Value_Measurements_Notes
Fair Value Measurements (Notes) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||
Fair Value Measurements [Text Block] | (15) Fair Value Measurements | |||||||||||||||||||||||
The carrying value of the Company's cash, certain cash equivalents, receivables, payables, accrued liabilities and short-term borrowings approximates fair value because of the short-term maturity of these instruments. The Company has various financial assets and liabilities that are measured at fair value on the Consolidated Financial Statements using inputs from the three levels of the fair value hierarchy. A financial asset or liability classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The three levels are as follows: | ||||||||||||||||||||||||
• | Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. | |||||||||||||||||||||||
• | Level 2 - Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). | |||||||||||||||||||||||
• | Level 3 - Unobservable inputs reflect the Company's judgments about the assumptions market participants would use in pricing the asset or liability since limited market data exists. The Company develops these inputs based on the best information available, including its own data. | |||||||||||||||||||||||
The following table presents the Company's assets and liabilities recognized on the Consolidated 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 December 31, 2014 | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Commodity derivatives | $ | 1 | $ | 48 | $ | 94 | $ | (40 | ) | $ | 103 | |||||||||||||
Interest rate derivatives | — | 5 | — | — | 5 | |||||||||||||||||||
Mortgage loans held for sale | — | 279 | — | — | 279 | |||||||||||||||||||
Money market mutual funds(2) | 320 | — | — | — | 320 | |||||||||||||||||||
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 | — | — | 45 | — | 45 | |||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
United States companies | 238 | — | — | — | 238 | |||||||||||||||||||
International companies | 886 | — | — | — | 886 | |||||||||||||||||||
Investment funds | 137 | — | — | — | 137 | |||||||||||||||||||
$ | 1,718 | $ | 376 | $ | 139 | $ | (40 | ) | $ | 2,193 | ||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Commodity derivatives | $ | (18 | ) | $ | (274 | ) | $ | (43 | ) | $ | 115 | $ | (220 | ) | ||||||||||
Interest rate derivatives | — | (10 | ) | — | — | (10 | ) | |||||||||||||||||
$ | (18 | ) | $ | (284 | ) | $ | (43 | ) | $ | 115 | $ | (230 | ) | |||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Commodity derivatives | $ | 3 | $ | 28 | $ | 69 | $ | (27 | ) | $ | 73 | |||||||||||||
Interest rate derivatives | — | 14 | — | — | 14 | |||||||||||||||||||
Mortgage loans held for sale | — | 130 | — | — | 130 | |||||||||||||||||||
Money market mutual funds(2) | 809 | — | — | — | 809 | |||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United States government obligations | 134 | — | — | — | 134 | |||||||||||||||||||
International government obligations | — | 1 | — | — | 1 | |||||||||||||||||||
Corporate obligations | — | 38 | — | — | 38 | |||||||||||||||||||
Municipal obligations | — | 2 | — | — | 2 | |||||||||||||||||||
Agency, asset and mortgage-backed obligations | — | 2 | — | — | 2 | |||||||||||||||||||
Auction rate securities | — | — | 44 | — | 44 | |||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
United States companies | 214 | — | — | — | 214 | |||||||||||||||||||
International companies | 1,107 | — | — | — | 1,107 | |||||||||||||||||||
Investment funds | 114 | — | — | — | 114 | |||||||||||||||||||
$ | 2,381 | $ | 215 | $ | 113 | $ | (27 | ) | $ | 2,682 | ||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Commodity derivatives | $ | (1 | ) | $ | (230 | ) | $ | (9 | ) | $ | 39 | $ | (201 | ) | ||||||||||
Interest rate derivatives | — | (7 | ) | — | — | $ | (7 | ) | ||||||||||||||||
$ | (1 | ) | $ | (237 | ) | $ | (9 | ) | $ | 39 | $ | (208 | ) | |||||||||||
-1 | Represents netting under master netting arrangements and a net cash collateral receivable of $75 million and $12 million as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||
-2 | Amounts are included in cash and cash equivalents; other current assets; and noncurrent investments and restricted cash and investments on the Consolidated Balance Sheets. The fair value of these money market mutual funds approximates cost. | |||||||||||||||||||||||
Derivative contracts are recorded on the Consolidated Balance Sheets as either assets or liabilities and are stated at estimated fair value unless they are designated as normal purchases or normal sales and qualify for the exception afforded by GAAP. When available, the fair value of derivative contracts is estimated using unadjusted quoted prices for identical contracts in the market in which the Company transacts. When quoted prices for identical contracts are not available, the Company uses forward price curves. Forward price curves represent the Company's estimates of the prices at which a buyer or seller could contract today for delivery or settlement at future dates. The Company bases its forward price curves upon market price quotations, when available, or internally developed and commercial models, with internal and external fundamental data inputs. Market price quotations are obtained from independent brokers, exchanges, direct communication with market participants and actual transactions executed by the Company. Market price quotations are generally readily obtainable for the applicable term of the Company's outstanding derivative contracts; therefore, the Company's forward price curves reflect observable market quotes. Market price quotations for certain electricity and natural gas trading hubs are not as readily obtainable due to the length of the contract. Given that limited market data exists for these contracts, as well as for those contracts that are not actively traded, the Company uses forward price curves derived from internal models based on perceived pricing relationships to major trading hubs that are based on unobservable inputs. The estimated fair value of these derivative contracts is a function of underlying forward commodity prices, interest rates, currency rates, related volatility, counterparty creditworthiness and duration of contracts. Refer to Note 14 for further discussion regarding the Company's risk management and hedging activities. | ||||||||||||||||||||||||
The Company's mortgage loans held for sale are valued based on independent quoted market prices, where available, or the prices of other mortgage whole loans with similar characteristics. As necessary, these prices are adjusted for typical securitization activities, including servicing value, portfolio composition, market conditions and liquidity. | ||||||||||||||||||||||||
The Company's investments in money market mutual funds and debt and equity securities are stated at fair value and are primarily accounted for as available-for-sale securities. When available, a readily observable quoted market price or net asset value of an identical security in an active market is used to record the fair value. In the absence of a quoted market price or net asset value of an identical security, the fair value is determined using pricing models or net asset values based on observable market inputs and quoted market prices of securities with similar characteristics. The fair value of the Company's investments in auction rate securities, where there is no current liquid market, is determined using pricing models based on available observable market data and the Company's judgment about the assumptions, including liquidity and nonperformance risks, which market participants would use when pricing the asset. | ||||||||||||||||||||||||
The following table reconciles the beginning and ending balances of the Company's assets and liabilities measured at fair value on a recurring basis using significant Level 3 inputs for the years ended December 31 (in millions): | ||||||||||||||||||||||||
Commodity Derivatives | Auction Rate Securities | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Beginning balance | $ | 60 | $ | 32 | $ | 23 | $ | 44 | $ | 41 | $ | 35 | ||||||||||||
Changes included in earnings | 19 | 34 | 10 | — | — | — | ||||||||||||||||||
Changes in fair value recognized in OCI | — | (2 | ) | — | 1 | 3 | 7 | |||||||||||||||||
Changes in fair value recognized in net regulatory assets | 5 | 1 | (2 | ) | — | — | — | |||||||||||||||||
Purchases | 1 | 4 | 27 | — | — | — | ||||||||||||||||||
Sales | — | — | — | — | — | (1 | ) | |||||||||||||||||
Settlements | 1 | (9 | ) | (26 | ) | — | — | — | ||||||||||||||||
Transfers from Level 2 | (35 | ) | — | — | — | — | — | |||||||||||||||||
Ending balance | $ | 51 | $ | 60 | $ | 32 | $ | 45 | $ | 44 | $ | 41 | ||||||||||||
The Company's long-term debt is carried at cost on the Consolidated Financial Statements. The fair value of the Company'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 the Company'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 the Company's long-term debt as of December 31 (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||||||||||
Value | Value | Value | Value | |||||||||||||||||||||
Long-term debt | $ | 38,649 | $ | 43,863 | $ | 32,012 | $ | 34,881 | ||||||||||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Notes) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||
Commitments and Contingencies | (16) Commitments and Contingencies | ||||||||||||||||||||||||||||
Legal Matters | |||||||||||||||||||||||||||||
The Company is party to a variety of legal actions arising out of the normal course of business. Plaintiffs occasionally seek punitive or exemplary damages. The Company does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. The Company is also involved in other kinds of legal actions, some of which assert or may assert claims or seek to impose fines, penalties and other costs in substantial amounts and are described below. | |||||||||||||||||||||||||||||
USA Power | |||||||||||||||||||||||||||||
In October 2005, prior to BHE's ownership of PacifiCorp, PacifiCorp was added as a defendant to a lawsuit originally filed in February 2005 in the Third District Court of Salt Lake County, Utah ("Third District Court") by USA Power, LLC, USA Power Partners, LLC and Spring Canyon Energy, LLC (collectively, the "Plaintiff"). The Plaintiff's complaint alleged that PacifiCorp misappropriated confidential proprietary information in violation of Utah's Uniform Trade Secrets Act and accused PacifiCorp of breach of contract and related claims in regard to the Plaintiff's 2002 and 2003 proposals to build a natural gas-fueled generating facility in Juab County, Utah. In October 2007, the Third District Court granted PacifiCorp's motion for summary judgment on all counts and dismissed the Plaintiff's claims in their entirety. In a May 2010 ruling on the Plaintiff's petition for reconsideration, the Utah Supreme Court reversed summary judgment and remanded the case back to the Third District Court for further consideration. In May 2012, a jury awarded damages to the Plaintiff for breach of contract and misappropriation of a trade secret in the amounts of $18 million for actual damages and $113 million for unjust enrichment. In May 2012, the Plaintiff filed a motion seeking exemplary damages. Under the Utah Uniform Trade Secrets law, the judge may award exemplary damages in an additional amount not to exceed twice the original award. The Plaintiff also filed a motion to seek recovery of attorneys' fees in an amount equal to 40% of all amounts ultimately awarded in the case. In October 2012, PacifiCorp filed post-trial motions for a judgment notwithstanding the verdict and a new trial. As a result of a hearing in December 2012, the trial judge denied PacifiCorp's post-trial motions with the exception of reducing the aggregate amount of damages to $113 million. In January 2013, the Plaintiff filed a motion for prejudgment interest. An initial judgment was entered in April 2013 in which the trial judge denied the Plaintiff's motions for exemplary damages and prejudgment interest and ruled that PacifiCorp must pay the Plaintiff's attorneys' fees based on applying a reasonable rate to hours worked. In May 2013, a final judgment was entered against PacifiCorp in the amount of $115 million, which includes the $113 million of aggregate damages previously awarded and amounts awarded for the Plaintiff's attorneys' fees. The final judgment also ordered that postjudgment interest accrue beginning as of the date of the April 2013 initial judgment. In May 2013, PacifiCorp posted a surety bond issued by a subsidiary of Berkshire Hathaway to secure its estimated obligation. PacifiCorp strongly disagrees with the jury's verdict and is vigorously pursuing all appellate measures. Both PacifiCorp and the Plaintiff filed appeals with the Utah Supreme Court. Briefing before the Utah Supreme Court is complete and oral arguments will most likely be held in 2015. As of December 31, 2014, PacifiCorp had accrued $119 million for the final judgment and postjudgment interest, and believes the likelihood of any additional material loss is remote; however, any additional awards against PacifiCorp could also have a material effect on the consolidated financial results. Any payment of damages will be at the end of the appeals process, which could take as long as several years. | |||||||||||||||||||||||||||||
Commitments | |||||||||||||||||||||||||||||
The Company has the following firm commitments that are not reflected on the Consolidated Balance Sheet. Minimum payments as of December 31, 2014 are as follows (in millions): | |||||||||||||||||||||||||||||
2020 and | |||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||||
Contract type: | |||||||||||||||||||||||||||||
Fuel, capacity and transmission contract commitments | $ | 2,327 | $ | 1,765 | $ | 1,553 | $ | 1,216 | $ | 1,140 | $ | 8,777 | $ | 16,778 | |||||||||||||||
Construction commitments | 1,280 | 117 | 18 | 8 | 3 | 9 | 1,435 | ||||||||||||||||||||||
Operating leases and easements | 143 | 120 | 102 | 84 | 67 | 861 | 1,377 | ||||||||||||||||||||||
Maintenance, service and other contracts | 187 | 160 | 161 | 153 | 161 | 966 | 1,788 | ||||||||||||||||||||||
$ | 3,937 | $ | 2,162 | $ | 1,834 | $ | 1,461 | $ | 1,371 | $ | 10,613 | $ | 21,378 | ||||||||||||||||
Fuel, Capacity and Transmission Contract Commitments | |||||||||||||||||||||||||||||
The Utilities have fuel supply and related transportation and lime contracts for their coal- and natural gas-fueled generating facilities. The Utilities expect to supplement these contracts with additional contracts and spot market purchases to fulfill their future fossil fuel needs. The Utilities acquire a portion of their electricity through long-term purchases and exchange agreements. The Utilities have several power purchase agreements with wind-powered generating facilities that are not included in the table above as the payments are based on the amount of energy generated and there are no minimum payments. The Utilities also have contracts for the right to transmit electricity over other entities' transmission lines to facilitate delivery to their customers. | |||||||||||||||||||||||||||||
In 2012, MidAmerican Energy signed new long-term rail transportation contracts with BNSF Railway Company ("BNSF"), an affiliate company, and Union Pacific Railroad Company ("UP") for the transportation of coal to all of the MidAmerican Energy-operated coal-fueled generating facilities. These contracts replaced a long-term contract with UP that expired December 31, 2012. For the years ended December 31, 2014 and 2013, $159 million and $174 million, respectively, were incurred for coal transportation services, the majority of which was related to the BNSF agreement. | |||||||||||||||||||||||||||||
Construction Commitments | |||||||||||||||||||||||||||||
The Company's firm construction commitments reflected in the table above include the following major construction projects: | |||||||||||||||||||||||||||||
• | The Topaz Project, which is a 550-MW solar project in California, and the Solar Star Projects, which are a combined 579-MW solar project in California, are in construction. BHE has committed to separately provide Topaz Solar Farms LLC and Solar Star Funding, LLC and its subsidiaries with equity to fund the costs of the projects in an amount up to $2.44 billion for the Topaz Project and $2.75 billion for the Solar Star Projects, less, among other things, the gross proceeds of long-term debt issuances, project revenue prior to completion and the total equity contributions made by BHE or its subsidiaries. As of December 31, 2014, the remaining equity commitment for the Topaz Project is $142 million and for the Solar Star Projects is $802 million. If BHE does not maintain a minimum credit rating from two of the following three ratings agencies of at least BBB- from Standard & Poor's Ratings Services or Fitch Ratings or Baa3 from Moody's Investors Service, BHE's obligations under the equity commitment agreements would be supported by cash collateral or a letter of credit issued by a financial institution that meets certain minimum criteria specified in the financing documents. Upon reaching project construction completion and other requirements under each of the project documents, BHE will have no further obligation to make any equity contributions and any unused equity contribution obligations will be canceled under each project's respective equity commitment agreement. | ||||||||||||||||||||||||||||
• | PacifiCorp's costs associated with investments in emissions control equipment and certain transmission and distribution projects. | ||||||||||||||||||||||||||||
• | MidAmerican Energy's costs consist primarily of contracts for the construction of wind-powered generating facilities in 2015 and the construction in 2015 through 2017 of four Multi-Value Projects approved by the Midcontinent Independent System Operator, Inc. for high voltage transmission lines in Iowa and Illinois. | ||||||||||||||||||||||||||||
Operating Leases and Easements | |||||||||||||||||||||||||||||
The Company has non-cancelable operating leases primarily for office equipment, office space, certain operating facilities, land and rail cars. These leases generally require the Company to pay for insurance, taxes and maintenance applicable to the leased property. Certain leases contain renewal options for varying periods and escalation clauses for adjusting rent to reflect changes in price indices. The Company also has non-cancelable easements for land on which its wind-powered generating facilities are located. Rent expense on non-cancelable operating leases totaled $146 million for 2014, $118 million for 2013 and $112 million for 2012. | |||||||||||||||||||||||||||||
Maintenance, Service and Other Contracts | |||||||||||||||||||||||||||||
The Company has entered into service agreements related to its nonregulated solar and wind-powered projects with third parties to operate and maintain the projects under fixed-fee operating and maintenance agreements. Additionally, the Company has various non-cancelable maintenance, service and other contracts primarily related to turbine and equipment maintenance and various other service agreements. | |||||||||||||||||||||||||||||
Environmental Laws and Regulations | |||||||||||||||||||||||||||||
The Company is subject to federal, state, local and foreign laws and regulations regarding air and water quality, renewable portfolio standards, emissions performance standards, climate change, coal combustion byproduct disposal, hazardous and solid waste disposal, protected species and other environmental matters that have the potential to impact the Company's current and future operations. The Company believes it is in material compliance with all applicable laws and regulations. | |||||||||||||||||||||||||||||
Hydroelectric Relicensing | |||||||||||||||||||||||||||||
PacifiCorp's Klamath hydroelectric system is currently operating under annual licenses with the FERC. In February 2010, PacifiCorp, the United States Department of the Interior, the United States Department of Commerce, the State of California, the State of Oregon and various other governmental and non-governmental settlement parties signed the Klamath Hydroelectric Settlement Agreement ("KHSA"). Among other things, the KHSA provides that the United States Department of the Interior conduct scientific and engineering studies to assess whether removal of the Klamath hydroelectric system's mainstem dams is in the public interest and will advance restoration of the Klamath Basin's salmonid fisheries. If it is determined that dam removal should proceed, dam removal is expected to commence no earlier than 2020. | |||||||||||||||||||||||||||||
Under the KHSA, PacifiCorp and its customers are protected from uncapped dam removal costs and liabilities. For dam removal to occur, federal legislation consistent with the KHSA must be enacted to provide, among other things, protection for PacifiCorp from all liabilities associated with dam removal activities. If Congress does not enact legislation, then PacifiCorp will resume relicensing with the FERC. In May 2014, a bill was introduced in the United States Senate that, if passed by both houses of Congress, would enact the KHSA and companion agreements that seek to resolve other water-related conflicts and restore habitat in the Klamath basin. A hearing on the bill before a Senate Energy and Natural Resources subcommittee was held in June 2014, and the bill was voted out of committee and referred to the full Senate for consideration in November 2014. However, the bill was not passed by Congress prior to the end of the 2014 session. In January 2015, the bill was re-introduced into Congress. | |||||||||||||||||||||||||||||
In addition, the KHSA limits PacifiCorp's contribution to dam removal costs to no more than $200 million, of which up to $184 million would be collected from PacifiCorp's Oregon customers with the remainder to be collected from PacifiCorp's California customers. Additional funding of up to $250 million for dam removal costs is to be provided by the State of California. California voters approved a water bond measure in November 2014 from which the State of California's contribution towards dam removal costs will be drawn. If dam removal costs exceed the combined funding that will be available from PacifiCorp's Oregon and California customers and the State of California, sufficient funds would need to be provided by an entity other than PacifiCorp in order for the KHSA and dam removal to proceed. | |||||||||||||||||||||||||||||
PacifiCorp has begun collection of surcharges from Oregon and California customers for their share of dam removal costs, as approved by the OPUC and the CPUC, and is depositing the proceeds into trust accounts maintained by the OPUC and the CPUC, respectively. PacifiCorp is authorized to collect the surcharges through 2019. | |||||||||||||||||||||||||||||
As of December 31, 2014, PacifiCorp's assets included $92 million of costs associated with the Klamath hydroelectric system's mainstem dams and the associated relicensing and settlement costs, which are being depreciated and amortized in accordance with state regulatory approvals through either December 31, 2019 or December 31, 2022. | |||||||||||||||||||||||||||||
Hydroelectric Commitments | |||||||||||||||||||||||||||||
Certain of PacifiCorp's hydroelectric licenses contain requirements for PacifiCorp to make certain capital and operating expenditures related to its hydroelectric facilities. PacifiCorp estimates it is obligated to make capital expenditures of approximately $203 million over the next 10 years related to these licenses. | |||||||||||||||||||||||||||||
Guarantees | |||||||||||||||||||||||||||||
The Company has entered into guarantees as part of the normal course of business and the sale of certain assets. These guarantees are not expected to have a material impact on the Company's consolidated financial results. |
BHE_Shareholders_Equity_Notes
BHE Shareholders' Equity (Notes) | 12 Months Ended | |
Dec. 31, 2014 | ||
Stockholders' Equity Note [Abstract] | ||
BHE Shareholders' Equity [Text Block] | ||
-17 | BHE Shareholders' Equity | |
Common Stock | ||
On March 14, 2000, and as amended on December 7, 2005, BHE's shareholders entered into a Shareholder Agreement that provides specific rights to certain shareholders. One of these rights allows certain shareholders the ability to put their common shares back to BHE at the then current fair value dependent on certain circumstances controlled by BHE. | ||
On December 19, 2013, Berkshire Hathaway and other existing shareholders invested $1.0 billion, in the aggregate, in 2,857,143 shares of BHE's common stock in order to provide equity funding for the NV Energy Transaction (see Note 3). The per-share value assigned to the shares of common stock issued, which were effected pursuant to a private placement and were exempt from the registration requirements of the Securities Act of 1933, as amended, was based on a per share value as agreed to by BHE's shareholders. | ||
On February 17, 2015, BHE repurchased from certain family interests of Mr. Walter Scott, Jr. 75,000 shares of its common stock for $36 million. | ||
Restricted Net Assets | ||
BHE has maximum debt-to-total capitalization percentage restrictions imposed by its senior unsecured credit facilities expiring in June 2017 which, in certain circumstances, limit BHE's ability to make cash dividends or distributions. As a result of this restriction, BHE has restricted net assets of $11.8 billion as of December 31, 2014. | ||
Certain of BHE's subsidiaries have restrictions on their ability to dividend, loan or advance funds to BHE due to specific legal or regulatory restrictions, including, but not limited to, maximum debt-to-total capitalization percentages and commitments made to state commissions or federal agencies in connection with past acquisitions. As a result of these restrictions, BHE's subsidiaries had restricted net assets of $17.4 billion as of December 31, 2014. |
Components_of_Accumulated_Othe
Components of Accumulated Other Comprehensive Loss, Net (Notes) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||||||||||||||||||
Components of Accumulated Other Comprehensive Loss, Net [Text Block] | (18) Components of Accumulated Other Comprehensive Loss, Net | ||||||||||||||||||||
The following table shows the change in accumulated other comprehensive loss attributable to BHE shareholders by each component of other comprehensive income (loss), net of applicable income taxes, for the year ended December 31, (in millions): | |||||||||||||||||||||
Accumulated | |||||||||||||||||||||
Unrealized | Other | ||||||||||||||||||||
Unrecognized | Foreign | Gains on | Unrealized | Comprehensive | |||||||||||||||||
Amounts on | Currency | Available- | Gains on | Loss Attributable | |||||||||||||||||
Retirement | Translation | For-Sale | Cash Flow | To BHE | |||||||||||||||||
Benefits | Adjustment | Securities | Hedges | Shareholders, Net | |||||||||||||||||
Balance, December 31, 2011 | $ | (491 | ) | $ | (307 | ) | $ | 142 | $ | 15 | $ | (641 | ) | ||||||||
Other comprehensive (loss) income | (84 | ) | 135 | 119 | 8 | 178 | |||||||||||||||
Balance, December 31, 2012 | (575 | ) | (172 | ) | 261 | 23 | (463 | ) | |||||||||||||
Other comprehensive income | 16 | 74 | 263 | 13 | 366 | ||||||||||||||||
Balance, December 31, 2013 | (559 | ) | (98 | ) | 524 | 36 | (97 | ) | |||||||||||||
Other comprehensive income (loss) | 69 | (314 | ) | (134 | ) | (18 | ) | (397 | ) | ||||||||||||
Balance, December 31, 2014 | $ | (490 | ) | $ | (412 | ) | $ | 390 | $ | 18 | $ | (494 | ) | ||||||||
Reclassifications from AOCI to net income for the years ended December 31, 2014, 2013 and 2012 were insignificant. For information regarding cash flow hedge reclassifications from AOCI to net income in their entirety, refer to Note 14. Additionally, refer to the "Foreign Operations" discussion in Note 12 for information about unrecognized amounts on retirement benefits reclassifications from AOCI that do not impact net income in their entirety. |
Noncontrolling_Interests_Notes
Noncontrolling Interests (Notes) | 12 Months Ended | |
Dec. 31, 2014 | ||
Noncontrolling Interest Represented by Preferred Stock [Abstract] | ||
Noncontrolling Interests [Text Block] | ||
-19 | Noncontrolling Interests | |
Included in noncontrolling interests on the Consolidated Balance Sheets are preferred securities of subsidiaries of $58 million as of December 31, 2014 and 2013, which are comprised of the following: | ||
The total outstanding preferred stock of PacifiCorp, which does not have mandatory redemption requirements, is $2 million as of December 31, 2014 and 2013 and accrues annual dividends of 6.0% and 7.0%. In 2013, PacifiCorp redeemed and canceled all outstanding shares of its redeemable preferred stock at stated redemption prices, which in aggregate totaled $40 million, plus accrued and unpaid dividends. In the event of voluntary liquidation, all preferred stock is entitled to stated value or a specified preference amount per share plus accrued dividends. Upon involuntary liquidation, all preferred stock is entitled to stated value plus accrued dividends. Dividends on all preferred stock are cumulative. Holders also have the right to elect members to the PacifiCorp Board of Directors in the event dividends payable are in default in an amount equal to four full quarterly payments. | ||
In April 2013, MidAmerican Energy redeemed and canceled all of the outstanding shares of each series of its preferred securities at the stated redemption prices, which in aggregate totaled $28 million including dividends. | ||
The total outstanding 8.061% cumulative preferred securities of Northern Electric plc., a subsidiary of Northern Powergrid, which are redeemable in the event of the revocation of Northern Electric plc.'s electricity distribution license by the Secretary of State, was $56 million as of December 31, 2014 and 2013. |
Other_Net_Notes
Other, Net (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Other Nonoperating Income (Expense) [Abstract] | ||||||||||||
Other, Net [Text Block] | (20) Other, Net | |||||||||||
Other, net, as shown on the Consolidated Statements of Operations, for the years ending December 31 consists of the following (in millions): | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Interest and dividend income | $ | 38 | $ | 15 | $ | 12 | ||||||
Corporate-owned life insurance income | 19 | 34 | 21 | |||||||||
Other, net | 23 | 17 | 23 | |||||||||
Total other, net | $ | 80 | $ | 66 | $ | 56 | ||||||
Supplemental_Cash_Flow_Disclos
Supplemental Cash Flow Disclosures (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Supplemental Cash Flow Elements [Abstract] | ||||||||||||
Supplemental Cash Flow Disclosures [Text Block] | (21) Supplemental Cash Flow Disclosures | |||||||||||
The summary of supplemental cash flow disclosures as of and for the years ending December 31 is as follows (in millions): | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Supplemental disclosure of cash flow information: | ||||||||||||
Interest paid, net of amounts capitalized | $ | 1,585 | $ | 1,073 | $ | 1,046 | ||||||
Income taxes received, net(1) | $ | 635 | $ | 1,105 | $ | 1,341 | ||||||
Supplemental disclosure of non-cash investing and financing transactions: | ||||||||||||
Accruals related to property, plant and equipment additions | $ | 1,143 | $ | 661 | $ | 606 | ||||||
Deferred payments on equipment purchased for wind-powered generation | $ | — | $ | — | $ | 406 | ||||||
at MidAmerican Energy(2) | ||||||||||||
-1 | Includes $764 million, $1.2 billion and $1.5 billion of income taxes received from Berkshire Hathaway in 2014, 2013 and 2012, respectively. | |||||||||||
-2 | In conjunction with the construction of wind-powered generating facilities, MidAmerican Energy accrued as property, plant and equipment, net certain amounts for which it was not contractually obligated to pay until a stated future date. Refer to Note 10 for additional information. |
Segment_Information_Notes
Segment Information (Notes) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||
Segment Information [Text Block] | (22) Segment Information | |||||||||||||||||||||||||||||||||||||||
The Company's reportable segments with foreign operations include Northern Powergrid, whose business is principally in the United Kingdom, BHE Transmission, whose business includes operations in Canada, and BHE Renewables, whose business includes operations in the Philippines. Intersegment eliminations and adjustments, including the allocation of goodwill, have been made. Information related to the Company's reportable segments is shown below (in millions): | ||||||||||||||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||
Operating revenue: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 5,252 | $ | 5,147 | $ | 4,882 | ||||||||||||||||||||||||||||||||||
MidAmerican Funding | 3,762 | 3,413 | 3,247 | |||||||||||||||||||||||||||||||||||||
NV Energy | 3,241 | (20 | ) | — | ||||||||||||||||||||||||||||||||||||
Northern Powergrid | 1,283 | 1,025 | 1,035 | |||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 1,078 | 952 | 968 | |||||||||||||||||||||||||||||||||||||
BHE Transmission | 62 | — | — | |||||||||||||||||||||||||||||||||||||
BHE Renewables | 623 | 355 | 166 | |||||||||||||||||||||||||||||||||||||
HomeServices | 2,144 | 1,809 | 1,312 | |||||||||||||||||||||||||||||||||||||
BHE and Other(1) | (119 | ) | (46 | ) | (62 | ) | ||||||||||||||||||||||||||||||||||
Total operating revenue | $ | 17,326 | $ | 12,635 | $ | 11,548 | ||||||||||||||||||||||||||||||||||
Depreciation and amortization: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 745 | $ | 692 | $ | 655 | ||||||||||||||||||||||||||||||||||
MidAmerican Funding | 351 | 403 | 393 | |||||||||||||||||||||||||||||||||||||
NV Energy | 379 | — | — | |||||||||||||||||||||||||||||||||||||
Northern Powergrid | 198 | 180 | 174 | |||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 196 | 190 | 193 | |||||||||||||||||||||||||||||||||||||
BHE Transmission | 13 | — | — | |||||||||||||||||||||||||||||||||||||
BHE Renewables | 152 | 71 | 33 | |||||||||||||||||||||||||||||||||||||
HomeServices | 29 | 33 | 19 | |||||||||||||||||||||||||||||||||||||
BHE and Other(1) | (6 | ) | (9 | ) | (12 | ) | ||||||||||||||||||||||||||||||||||
Total depreciation and amortization | $ | 2,057 | $ | 1,560 | $ | 1,455 | ||||||||||||||||||||||||||||||||||
Operating income: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 1,308 | $ | 1,275 | $ | 1,034 | ||||||||||||||||||||||||||||||||||
MidAmerican Funding | 423 | 357 | 369 | |||||||||||||||||||||||||||||||||||||
NV Energy | 791 | (42 | ) | — | ||||||||||||||||||||||||||||||||||||
Northern Powergrid | 674 | 501 | 565 | |||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 439 | 446 | 465 | |||||||||||||||||||||||||||||||||||||
BHE Transmission | 16 | (5 | ) | (2 | ) | |||||||||||||||||||||||||||||||||||
BHE Renewables | 314 | 223 | 93 | |||||||||||||||||||||||||||||||||||||
HomeServices | 125 | 129 | 62 | |||||||||||||||||||||||||||||||||||||
BHE and Other(1) | (44 | ) | (49 | ) | (19 | ) | ||||||||||||||||||||||||||||||||||
Total operating income | 4,046 | 2,835 | 2,567 | |||||||||||||||||||||||||||||||||||||
Interest expense | (1,711 | ) | (1,222 | ) | (1,176 | ) | ||||||||||||||||||||||||||||||||||
Capitalized interest | 89 | 84 | 54 | |||||||||||||||||||||||||||||||||||||
Allowance for equity funds | 98 | 78 | 74 | |||||||||||||||||||||||||||||||||||||
Other, net | 80 | 66 | 56 | |||||||||||||||||||||||||||||||||||||
Total income before income tax expense and equity income (loss) | $ | 2,602 | $ | 1,841 | $ | 1,575 | ||||||||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||
Interest expense: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 386 | $ | 390 | $ | 393 | ||||||||||||||||||||||||||||||||||
MidAmerican Funding | 197 | 174 | 167 | |||||||||||||||||||||||||||||||||||||
NV Energy | 283 | — | — | |||||||||||||||||||||||||||||||||||||
Northern Powergrid | 151 | 141 | 139 | |||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 76 | 80 | 92 | |||||||||||||||||||||||||||||||||||||
BHE Transmission | 14 | — | — | |||||||||||||||||||||||||||||||||||||
BHE Renewables | 175 | 138 | 70 | |||||||||||||||||||||||||||||||||||||
HomeServices | 4 | 3 | — | |||||||||||||||||||||||||||||||||||||
BHE and Other(1) | 425 | 296 | 315 | |||||||||||||||||||||||||||||||||||||
Total interest expense | $ | 1,711 | $ | 1,222 | $ | 1,176 | ||||||||||||||||||||||||||||||||||
Income tax expense (benefit): | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 310 | $ | 298 | $ | 196 | ||||||||||||||||||||||||||||||||||
MidAmerican Funding | (110 | ) | (110 | ) | (108 | ) | ||||||||||||||||||||||||||||||||||
NV Energy | 195 | (15 | ) | — | ||||||||||||||||||||||||||||||||||||
Northern Powergrid | 110 | 23 | 31 | |||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 149 | 149 | 152 | |||||||||||||||||||||||||||||||||||||
BHE Transmission | 28 | 10 | 8 | |||||||||||||||||||||||||||||||||||||
BHE Renewables | 65 | 57 | 37 | |||||||||||||||||||||||||||||||||||||
HomeServices | 44 | 48 | 32 | |||||||||||||||||||||||||||||||||||||
BHE and Other(1) | (202 | ) | (330 | ) | (200 | ) | ||||||||||||||||||||||||||||||||||
Total income tax expense (benefit) | $ | 589 | $ | 130 | $ | 148 | ||||||||||||||||||||||||||||||||||
Capital expenditures: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 1,066 | $ | 1,065 | $ | 1,346 | ||||||||||||||||||||||||||||||||||
MidAmerican Funding | 1,527 | 1,027 | 645 | |||||||||||||||||||||||||||||||||||||
NV Energy | 558 | — | — | |||||||||||||||||||||||||||||||||||||
Northern Powergrid | 675 | 675 | 454 | |||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 257 | 177 | 152 | |||||||||||||||||||||||||||||||||||||
BHE Transmission | 222 | — | — | |||||||||||||||||||||||||||||||||||||
BHE Renewables | 2,221 | 1,329 | 770 | |||||||||||||||||||||||||||||||||||||
HomeServices | 17 | 21 | 8 | |||||||||||||||||||||||||||||||||||||
BHE and Other | 12 | 13 | 5 | |||||||||||||||||||||||||||||||||||||
Total capital expenditures | $ | 6,555 | $ | 4,307 | $ | 3,380 | ||||||||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||
Property, plant and equipment, net: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 18,755 | $ | 18,563 | $ | 18,129 | ||||||||||||||||||||||||||||||||||
MidAmerican Funding | 10,535 | 9,353 | 8,647 | |||||||||||||||||||||||||||||||||||||
NV Energy | 9,648 | 9,623 | — | |||||||||||||||||||||||||||||||||||||
Northern Powergrid | 5,599 | 5,476 | 4,923 | |||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 4,286 | 4,147 | 4,119 | |||||||||||||||||||||||||||||||||||||
BHE Transmission | 5,567 | — | — | |||||||||||||||||||||||||||||||||||||
BHE Renewables | 4,897 | 3,020 | 1,903 | |||||||||||||||||||||||||||||||||||||
HomeServices | 68 | 61 | 47 | |||||||||||||||||||||||||||||||||||||
BHE and Other | (107 | ) | (124 | ) | (154 | ) | ||||||||||||||||||||||||||||||||||
Total property, plant and equipment, net | $ | 59,248 | $ | 50,119 | $ | 37,614 | ||||||||||||||||||||||||||||||||||
Total assets: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 23,466 | $ | 22,885 | $ | 22,973 | ||||||||||||||||||||||||||||||||||
MidAmerican Funding | 15,368 | 13,992 | 13,355 | |||||||||||||||||||||||||||||||||||||
NV Energy | 14,454 | 14,233 | — | |||||||||||||||||||||||||||||||||||||
Northern Powergrid | 7,076 | 6,874 | 6,418 | |||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 4,968 | 4,908 | 4,865 | |||||||||||||||||||||||||||||||||||||
BHE Transmission | 7,992 | 465 | 368 | |||||||||||||||||||||||||||||||||||||
BHE Renewables | 6,123 | 3,875 | 3,342 | |||||||||||||||||||||||||||||||||||||
HomeServices | 1,629 | 1,381 | 899 | |||||||||||||||||||||||||||||||||||||
BHE and Other | 1,228 | 1,387 | 247 | |||||||||||||||||||||||||||||||||||||
Total assets | $ | 82,304 | $ | 70,000 | $ | 52,467 | ||||||||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||
Operating revenue by country: | ||||||||||||||||||||||||||||||||||||||||
United States | $ | 15,857 | $ | 11,465 | $ | 10,388 | ||||||||||||||||||||||||||||||||||
United Kingdom | 1,281 | 1,023 | 1,033 | |||||||||||||||||||||||||||||||||||||
Canada | 78 | 16 | — | |||||||||||||||||||||||||||||||||||||
Philippines and other | 110 | 131 | 127 | |||||||||||||||||||||||||||||||||||||
Total operating revenue by country | $ | 17,326 | $ | 12,635 | $ | 11,548 | ||||||||||||||||||||||||||||||||||
Income (loss) before income tax expense and equity income (loss) by country: | ||||||||||||||||||||||||||||||||||||||||
United States | $ | 2,001 | $ | 1,388 | $ | 1,060 | ||||||||||||||||||||||||||||||||||
United Kingdom | 557 | 373 | 432 | |||||||||||||||||||||||||||||||||||||
Canada | 4 | — | (4 | ) | ||||||||||||||||||||||||||||||||||||
Philippines and other | 40 | 80 | 87 | |||||||||||||||||||||||||||||||||||||
Total income before income tax expense and equity income (loss) by country: | $ | 2,602 | $ | 1,841 | $ | 1,575 | ||||||||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||
Property, plant and equipment, net by country: | ||||||||||||||||||||||||||||||||||||||||
United States | $ | 47,918 | $ | 44,460 | $ | 32,491 | ||||||||||||||||||||||||||||||||||
United Kingdom | 5,584 | 5,463 | 4,915 | |||||||||||||||||||||||||||||||||||||
Canada | 5,570 | 3 | — | |||||||||||||||||||||||||||||||||||||
Philippines and other | 176 | 193 | 208 | |||||||||||||||||||||||||||||||||||||
Total property, plant and equipment, net by country | $ | 59,248 | $ | 50,119 | $ | 37,614 | ||||||||||||||||||||||||||||||||||
-1 | The differences between the reportable segment amounts and the consolidated amounts, described as BHE and Other, relate to other corporate entities, corporate functions and intersegment eliminations. | |||||||||||||||||||||||||||||||||||||||
The following table shows the change in the carrying amount of goodwill by reportable segment for the years ended December 31, 2014 and 2013 (in millions): | ||||||||||||||||||||||||||||||||||||||||
BHE | ||||||||||||||||||||||||||||||||||||||||
MidAmerican | NV | Northern | Pipeline | BHE | BHE | Home- | ||||||||||||||||||||||||||||||||||
PacifiCorp | Funding | Energy | Powergrid | Group | Transmission | Renewables | Services | Other | Total | |||||||||||||||||||||||||||||||
31-Dec-12 | $ | 1,126 | $ | 2,102 | $ | — | $ | 1,135 | $ | 179 | $ | — | $ | 71 | $ | 507 | $ | — | $ | 5,120 | ||||||||||||||||||||
Acquisitions | — | — | 2,280 | — | — | — | — | 188 | 4 | 2,472 | ||||||||||||||||||||||||||||||
Foreign currency translation | — | — | — | 14 | — | — | — | — | — | 14 | ||||||||||||||||||||||||||||||
Impairment (Note 7) | — | — | — | — | — | — | (53 | ) | — | — | (53 | ) | ||||||||||||||||||||||||||||
Other | 3 | — | — | — | (26 | ) | — | (3 | ) | — | — | (26 | ) | |||||||||||||||||||||||||||
31-Dec-13 | 1,129 | 2,102 | 2,280 | 1,149 | 153 | — | 15 | 695 | 4 | 7,527 | ||||||||||||||||||||||||||||||
Acquisitions | — | — | 89 | — | — | 1,700 | 80 | 66 | — | 1,935 | ||||||||||||||||||||||||||||||
Foreign currency translation | — | — | — | (49 | ) | — | (43 | ) | — | — | (1 | ) | (93 | ) | ||||||||||||||||||||||||||
Other | — | — | — | — | (26 | ) | — | — | — | — | (26 | ) | ||||||||||||||||||||||||||||
31-Dec-14 | $ | 1,129 | $ | 2,102 | $ | 2,369 | $ | 1,100 | $ | 127 | $ | 1,657 | $ | 95 | $ | 761 | $ | 3 | $ | 9,343 | ||||||||||||||||||||
Condensed_Financial_Statements
Condensed Financial Statements (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ||||||||||||
Condensed Financial Statements [Text Block] | Schedule I | |||||||||||
Berkshire Hathaway Energy Company | ||||||||||||
Parent Company Only | ||||||||||||
Condensed Balance Sheets | ||||||||||||
As of December 31, | ||||||||||||
(Amounts in millions) | ||||||||||||
2014 | 2013 | |||||||||||
ASSETS | ||||||||||||
Current assets: | ||||||||||||
Cash and cash equivalents | $ | 3 | $ | 292 | ||||||||
Accounts receivable | 22 | — | ||||||||||
Income tax receivable | 152 | 2 | ||||||||||
Other current assets | 1 | 7 | ||||||||||
Total current assets | 178 | 301 | ||||||||||
Investments in subsidiaries | 31,968 | 27,165 | ||||||||||
Other investments | 1,038 | 1,247 | ||||||||||
Goodwill | 1,221 | 1,221 | ||||||||||
Other assets | 1,226 | 980 | ||||||||||
Total assets | $ | 35,631 | $ | 30,914 | ||||||||
LIABILITIES AND EQUITY | ||||||||||||
Current liabilities: | ||||||||||||
Accounts payable and other current liabilities | $ | 308 | $ | 316 | ||||||||
Short-term debt | 395 | — | ||||||||||
Current portion of senior debt | — | 250 | ||||||||||
Total current liabilities | 703 | 566 | ||||||||||
BHE senior debt | 7,860 | 6,366 | ||||||||||
BHE junior subordinated debentures | 3,794 | 2,594 | ||||||||||
Notes payable - affiliate | 1,981 | 2,010 | ||||||||||
Other long-term liabilities | 839 | 657 | ||||||||||
Total liabilities | 15,177 | 12,193 | ||||||||||
Equity: | ||||||||||||
BHE shareholders' equity: | ||||||||||||
Common stock - 115 shares authorized, no par value, 77 shares issued and outstanding | — | — | ||||||||||
Additional paid-in capital | 6,423 | 6,390 | ||||||||||
Retained earnings | 14,513 | 12,418 | ||||||||||
Accumulated other comprehensive loss, net | (494 | ) | (97 | ) | ||||||||
Total BHE shareholders' equity | 20,442 | 18,711 | ||||||||||
Noncontrolling interest | 12 | 10 | ||||||||||
Total equity | 20,454 | 18,721 | ||||||||||
Total liabilities and equity | $ | 35,631 | $ | 30,914 | ||||||||
The accompanying notes are an integral part of this financial statement schedule. | ||||||||||||
Schedule I | ||||||||||||
Berkshire Hathaway Energy Company | ||||||||||||
Parent Company Only (continued) | ||||||||||||
Condensed Statements of Operations | ||||||||||||
For the years ended December 31, | ||||||||||||
(Amounts in millions) | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Operating costs and expenses: | ||||||||||||
General and administration | $ | 51 | $ | 64 | $ | 31 | ||||||
Depreciation and amortization | 3 | 1 | 1 | |||||||||
Total operating costs and expenses | 54 | 65 | 32 | |||||||||
Operating loss | (54 | ) | (65 | ) | (32 | ) | ||||||
Other income (expense): | ||||||||||||
Interest expense | (476 | ) | (347 | ) | (362 | ) | ||||||
Other, net | 4 | 25 | 10 | |||||||||
Total other income (expense) | (472 | ) | (322 | ) | (352 | ) | ||||||
Loss before income tax benefit and equity income | (526 | ) | (387 | ) | (384 | ) | ||||||
Income tax benefit | (221 | ) | (345 | ) | (201 | ) | ||||||
Equity income | 2,402 | 1,679 | 1,656 | |||||||||
Net income | 2,097 | 1,637 | 1,473 | |||||||||
Net income attributable to noncontrolling interest | 2 | 1 | 1 | |||||||||
Net income attributable to BHE shareholders | $ | 2,095 | $ | 1,636 | $ | 1,472 | ||||||
The accompanying notes are an integral part of this financial statement schedule. | ||||||||||||
Schedule I | ||||||||||||
Berkshire Hathaway Energy Company | ||||||||||||
Parent Company Only (continued) | ||||||||||||
Condensed Statements of Comprehensive Income | ||||||||||||
For the years ended December 31, | ||||||||||||
(Amounts in millions) | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Net income | $ | 2,097 | $ | 1,637 | $ | 1,473 | ||||||
Other comprehensive (loss) income, net of tax | (397 | ) | 366 | 178 | ||||||||
Comprehensive income | 1,700 | 2,003 | 1,651 | |||||||||
Comprehensive income attributable to noncontrolling interests | 2 | 1 | 1 | |||||||||
Comprehensive income attributable to BHE shareholders | $ | 1,698 | $ | 2,002 | $ | 1,650 | ||||||
The accompanying notes are an integral part of this financial statement schedule. | ||||||||||||
Schedule I | ||||||||||||
Berkshire Hathaway Energy Company | ||||||||||||
Parent Company Only (continued) | ||||||||||||
Condensed Statements of Cash Flows | ||||||||||||
For the years ended December 31, | ||||||||||||
(Amounts in millions) | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Cash flows from operating activities | $ | 1,937 | $ | 2,295 | $ | 1,019 | ||||||
Cash flows from investing activities: | ||||||||||||
Investments in subsidiaries | (4,937 | ) | (6,522 | ) | (1,164 | ) | ||||||
Purchases of available-for-sale securities | (56 | ) | (106 | ) | (46 | ) | ||||||
Proceeds from sale of available-for-sale securities | 35 | 89 | 42 | |||||||||
Notes receivable from affiliate, net | (55 | ) | (37 | ) | (15 | ) | ||||||
Other, net | (7 | ) | (16 | ) | (8 | ) | ||||||
Net cash flows from investing activities | (5,020 | ) | (6,592 | ) | (1,191 | ) | ||||||
Cash flows from financing activities: | ||||||||||||
Proceeds from BHE senior debt | 1,493 | 1,994 | — | |||||||||
Proceeds from BHE junior subordinated debentures | 1,500 | 2,594 | — | |||||||||
Proceeds from issuance of BHE common stock | — | 1,000 | — | |||||||||
Repayments of BHE senior debt | (250 | ) | — | (750 | ) | |||||||
Repayments of BHE subordinated debt | (300 | ) | — | (22 | ) | |||||||
Net proceeds from (repayments of) short-term debt | 395 | (825 | ) | 717 | ||||||||
Notes payable to affiliate, net | (30 | ) | (173 | ) | 220 | |||||||
Other, net | (14 | ) | (14 | ) | 7 | |||||||
Net cash flows from financing activities | 2,794 | 4,576 | 172 | |||||||||
Net change in cash and cash equivalents | (289 | ) | 279 | — | ||||||||
Cash and cash equivalents at beginning of year | 292 | 13 | 13 | |||||||||
Cash and cash equivalents at end of year | $ | 3 | $ | 292 | $ | 13 | ||||||
The accompanying notes are an integral part of this financial statement schedule. | ||||||||||||
Schedule I | ||||||||||||
BERKSHIRE HATHAWAY ENERGY COMPANY | ||||||||||||
NOTES TO CONDENSED FINANCIAL STATEMENTS | ||||||||||||
Incorporated by reference are Berkshire Hathaway Energy Company ("BHE") and Subsidiaries Consolidated Statements of Changes in Equity and Consolidated Statements of Comprehensive Income for the three years ended December 31, 2014 in Part II, Item 8. | ||||||||||||
Basis of Presentation - The condensed financial information of BHE investments in subsidiaries are presented under the equity method of accounting. Under this method, the assets and liabilities of subsidiaries are not consolidated. The investments in subsidiaries are recorded in the Condensed Balance Sheets. The income from operations of subsidiaries is reported on a net basis as equity income in the Condensed Statements of Operations. | ||||||||||||
Other investments - BHE's investment in BYD Company Limited ("BYD") common stock is accounted for as an available-for-sale security with changes in fair value recognized in AOCI. As of December 31, 2014 and 2013, the fair value of BHE's investment in BYD common stock was $881 million and $1.1 billion, respectively, which resulted in a unrealized gain of $649 million and $871 million as of December 31, 2014 and 2013, respectively. | ||||||||||||
Dividends and distributions from subsidiaries - Cash dividends paid to BHE by its subsidiaries for the years ended December 31, 2014, 2013 and 2012 were $2.3 billion, $2.5 billion and $1.1 billion, respectively. In January and February 2015, BHE received cash dividends from its subsidiaries totaling $58 million. | ||||||||||||
Guarantees | ||||||||||||
BHE has issued a limited guarantee of a specified portion of the final scheduled principal payment on December 15, 2019 on the Cordova Funding Corporation senior secured bonds in an amount up to a maximum of $37 million. | ||||||||||||
See the notes to the consolidated BHE financial statements in Part II, Item 8 for other disclosures. |
Schedule_II_Consolidated_Valua
Schedule II Consolidated Valuation and Qualifying Accounts (Notes) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Schedule II Consolidated Valuation and Qualifying Accounts [Abstract] | |||||||||||||||||||||
Consolidated Valuation and Qualifying Accounts [Text Block] | Schedule II | ||||||||||||||||||||
BERKSHIRE HATHAWAY ENERGY COMPANY | |||||||||||||||||||||
CONSOLIDATED VALUATION AND QUALIFYING ACCOUNTS | |||||||||||||||||||||
FOR THE THREE YEARS ENDED DECEMBER 31, 2014 | |||||||||||||||||||||
(Amounts in millions) | |||||||||||||||||||||
Column B | Column C | Column E | |||||||||||||||||||
Balance at | Charged | Balance | |||||||||||||||||||
Column A | Beginning | to | Acquisition | Column D | at End | ||||||||||||||||
Description | of Year | Income | Reserves(1) | Deductions | of Year | ||||||||||||||||
Reserves Deducted From Assets To Which They | |||||||||||||||||||||
Apply: | |||||||||||||||||||||
Reserve for uncollectible accounts receivable: | |||||||||||||||||||||
Year ended 2014 | $ | 33 | $ | 37 | $ | — | $ | (33 | ) | $ | 37 | ||||||||||
Year ended 2013 | 22 | 23 | 9 | (21 | ) | 33 | |||||||||||||||
Year ended 2012 | 21 | 22 | — | (21 | ) | 22 | |||||||||||||||
Reserves Not Deducted From Assets(2): | |||||||||||||||||||||
Year ended 2014 | $ | 9 | $ | 12 | $ | — | $ | (10 | ) | $ | 11 | ||||||||||
Year ended 2013 | 9 | 6 | — | (6 | ) | 9 | |||||||||||||||
Year ended 2012 | 8 | 6 | — | (5 | ) | 9 | |||||||||||||||
The notes to the consolidated BHE financial statements are an integral part of this financial statement schedule. | |||||||||||||||||||||
-1 | Acquisition reserves represent the reserves recorded at NV Energy, Inc. at the date of acquisition. | ||||||||||||||||||||
-2 | Reserves not deducted from assets relate primarily to estimated liabilities for losses retained by BHE for workers compensation, public liability and property damage claims. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Basis of consolidation and presentation [Policy Text Block] | Basis of Consolidation and Presentation |
The Consolidated Financial Statements include the accounts of BHE and its subsidiaries in which it holds a controlling financial interest as of the financial statement date. The Consolidated Statements of Operations include the revenue and expenses of any acquired entities from the date of acquisition. Intercompany accounts and transactions have been eliminated. | |
Use of estimates in preparation of financial statements [Policy Text Block] | Use of Estimates in Preparation of Financial Statements |
The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. These estimates include, but are not limited to, the effects of regulation; impairment of goodwill; recovery of long-lived assets; certain assumptions made in accounting for pension and other postretirement benefits; asset retirement obligations ("AROs"); income taxes; unbilled revenue; fair value of assets acquired and liabilities assumed in business combinations; valuation of certain financial assets and liabilities, including derivative contracts; and accounting for contingencies. Actual results may differ from the estimates used in preparing the Consolidated Financial Statements. | |
Accounting for the effects of certain types of regulation [Policy Text Block] | Accounting for the Effects of Certain Types of Regulation |
PacifiCorp, MidAmerican Energy, Nevada Power, Sierra Pacific, Northern Natural Gas, Kern River and AltaLink (the "Regulated Businesses") prepare their financial statements in accordance with authoritative guidance for regulated operations, which recognizes the economic effects of regulation. Accordingly, the Regulated Businesses defer the recognition of certain costs or income if it is probable that, through the ratemaking process, there will be a corresponding increase or decrease in future regulated rates. Regulatory assets and liabilities are established to reflect the impacts of these deferrals, which will be recognized in earnings in the periods the corresponding changes in regulated rates occur. | |
The Company continually evaluates the applicability of the guidance for regulated operations and whether its regulatory assets and liabilities are probable of inclusion in future regulated rates by considering factors such as a change in the regulator's approach to setting rates from cost-based ratemaking to another form of regulation, other regulatory actions or the impact of competition that could limit the Regulated Businesses' ability to recover their costs. The Company believes the application of the guidance for regulated operations is appropriate and its existing regulatory assets and liabilities are probable of inclusion in future regulated rates. The evaluation reflects the current political and regulatory climate at both the federal, state and provincial levels. If it becomes no longer probable that the deferred costs or income will be included in future regulated rates, the related regulatory assets and liabilities will be written off to net income, returned to customers or re-established as accumulated other comprehensive income (loss) ("AOCI"). | |
Fair value measurement [Policy Text Block] | Fair Value Measurements |
As defined under GAAP, fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in the principal market or in the most advantageous market when no principal market exists. Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in order to estimate fair value. Different valuation techniques may be appropriate under the circumstances to determine the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction. Market participants are assumed to be independent, knowledgeable, able and willing to transact an exchange and not under duress. Nonperformance or credit risk is considered in determining fair value. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange. | |
Cash equivalent and restricted cash and investments [Policy Text Block] | Cash Equivalents and Restricted Cash and Investments |
Cash equivalents consist of funds invested in money market mutual funds, United States Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted amounts are included in other current assets and investments and restricted cash and investments on the Consolidated Balance Sheets. | |
Investments [Policy Text Block] | Investments |
The Company's management determines the appropriate classification of investments in debt and equity securities at the acquisition date and reevaluates the classification at each balance sheet date. Investments and restricted cash and investments that management does not intend to use or is restricted from using in current operations are presented as noncurrent on the Consolidated Balance Sheets. | |
Available-for-sale securities are carried at fair value with realized gains and losses, as determined on a specific identification basis, recognized in earnings and unrealized gains and losses recognized in AOCI, net of tax. Realized and unrealized gains and losses on securities in a trust related to the decommissioning of nuclear generation assets are recorded as a net regulatory liability since the Company expects to recover costs for these activities through regulated rates. Trading securities are carried at fair value with realized and unrealized gains and losses recognized in earnings. Held-to-maturity securities are carried at amortized cost, reflecting the ability and intent to hold the securities to maturity. | |
The Company utilizes the equity method of accounting with respect to investments when it possesses the ability to exercise significant influence, but not control, over the operating and financial policies of the investee. The ability to exercise significant influence is presumed when an investor possesses more than 20% of the voting interests of the investee. This presumption may be overcome based on specific facts and circumstances that demonstrate the ability to exercise significant influence is restricted. In applying the equity method, the Company records the investment at cost and subsequently increases or decreases the carrying value of the investment by the Company's proportionate share of the net earnings or losses and other comprehensive income (loss) ("OCI") of the investee. The Company records dividends or other equity distributions as reductions in the carrying value of the investment. Certain equity investments are presented on the Consolidated Balance Sheets net of related investment tax credits. | |
Investments gains and losses arise when investments are sold (as determined on a specific identification basis) or are other-than-temporarily impaired. If a decline in value of an investment below cost is deemed other than temporary, the cost of the investment is written down to fair value, with a corresponding charge to earnings. Factors considered in judging whether an impairment is other than temporary include: the financial condition, business prospects and creditworthiness of the issuer; the relative amount of the decline; the Company's ability and intent to hold the investment until the fair value recovers; and the length of time that fair value has been less than cost. Impairment losses on equity securities are charged to earnings. With respect to an investment in a debt security, any resulting impairment loss is recognized in earnings if the Company intends to sell, or expects to be required to sell, the debt security before its amortized cost is recovered. If the Company does not expect to ultimately recover the amortized cost basis even if it does not intend to sell the security, the credit loss component is recognized in earnings and any difference between fair value and the amortized cost basis, net of the credit loss, is reflected in OCI. For regulated investments, any impairment charge is offset by the establishment of a regulatory asset to the extent recovery in regulated rates is probable. | |
Allowance for doubtful accounts [Policy Text Block] | Allowance for Doubtful Accounts |
Trade receivables are stated at the outstanding principal amount, net of an estimated allowance for doubtful accounts. The allowance for doubtful accounts is based on the Company's assessment of the collectibility of amounts owed to the Company by its customers. This assessment requires judgment regarding the ability of customers to pay or the outcome of any pending disputes. As of December 31, 2014 and 2013, the allowance for doubtful accounts totaled $37 million and $33 million, respectively, and is included in trade receivables, net on the Consolidated Balance Sheets. | |
Derivatives [Policy Text Block] | Derivatives |
The Company employs a number of different derivative contracts, which may include forwards, futures, options, swaps and other agreements, to manage its commodity price, interest rate, and foreign currency exchange rate risk. Derivative contracts are recorded on the Consolidated Balance Sheets as either assets or liabilities and are stated at estimated fair value unless they are designated as normal purchases or normal sales and qualify for the exception afforded by GAAP. Derivative balances reflect offsetting permitted under master netting agreements with counterparties and cash collateral paid or received under such agreements. Cash collateral received from or paid to counterparties to secure derivative contract assets or liabilities in excess of amounts offset is included in other current assets on the Consolidated Balance Sheets. | |
Commodity derivatives used in normal business operations that are settled by physical delivery, among other criteria, are eligible for and may be designated as normal purchases or normal sales. Normal purchases or normal sales contracts are not marked-to-market and settled amounts are recognized as operating revenue or cost of sales on the Consolidated Statements of Operations. | |
For the Company's derivatives not designated as hedging contracts, the settled amount is generally included in regulated rates. Accordingly, the net unrealized gains and losses associated with interim price movements on contracts that are accounted for as derivatives and probable of inclusion in regulated rates are recorded as regulatory assets and liabilities. For the Company's derivatives not designated as hedging contracts and for which changes in fair value are not recorded as regulatory assets and liabilities, unrealized gains and losses are recognized on the Consolidated Statements of Operations as operating revenue for sales contracts; cost of sales and operating expense for purchase contracts and electricity, natural gas and fuel swap contracts; and other, net for interest rate swap derivatives. | |
For the Company's derivatives designated as hedging contracts, the Company formally assesses, at inception and thereafter, whether the hedging contract is highly effective in offsetting changes in the hedged item. The Company formally documents hedging activity by transaction type and risk management strategy. | |
Changes in the estimated fair value of a derivative contract designated and qualified as a cash flow hedge, to the extent effective, are included on the Consolidated Statements of Changes in Equity as AOCI, net of tax, until the contract settles and the hedged item is recognized in earnings. The Company discontinues hedge accounting prospectively when it has determined that a derivative contract no longer qualifies as an effective hedge, or when it is no longer probable that the hedged forecasted transaction will occur. When hedge accounting is discontinued because the derivative contract no longer qualifies as an effective hedge, future changes in the estimated fair value of the derivative contract are charged to earnings. Gains and losses related to discontinued hedges that were previously recorded in AOCI will remain in AOCI until the contract settles and the hedged item is recognized in earnings, unless it becomes probable that the hedged forecasted transaction will not occur at which time associated deferred amounts in AOCI are immediately recognized in earnings. | |
Inventories [Policy Text Block] | Inventories |
Inventories consist mainly of fuel, which includes coal stocks, stored gas and fuel oil, totaling $320 million and $407 million as of December 31, 2014 and 2013, respectively, and materials and supplies totaling $506 million and $446 million as of December 31, 2014 and 2013, respectively. The cost of materials and supplies, coal stocks and fuel oil is determined primarily using the average cost method. The cost of stored gas is determined using either the last-in-first-out ("LIFO") method or the lower of average cost or market. With respect to inventories carried at LIFO cost, the replacement cost would be $41 million and $36 million higher as of December 31, 2014 and 2013, respectively. | |
Property, plant and equipment, net - general [Policy Text Block] | Property, Plant and Equipment, Net |
General | |
Additions to property, plant and equipment are recorded at cost. The Company capitalizes all construction-related material, direct labor and contract services, as well as indirect construction costs. Indirect construction costs include capitalized interest, including debt allowance for funds used during construction ("AFUDC"), and equity AFUDC, as applicable to the Regulated Businesses. The cost of additions and betterments are capitalized, while costs incurred that do not improve or extend the useful lives of the related assets are generally expensed. Additionally, MidAmerican Energy has regulatory arrangements in Iowa in which the carrying cost of certain utility plant has been reduced for amounts associated with electric returns on equity exceeding specified thresholds. | |
Depreciation and amortization are generally computed by applying the composite or straight-line method based on either estimated useful lives or mandated recovery periods as prescribed by the Company's various regulatory authorities. Depreciation studies are completed by the Regulated Businesses to determine the appropriate group lives, net salvage and group depreciation rates. These studies are reviewed and rates are ultimately approved by the applicable regulatory commission. Net salvage includes the estimated future residual values of the assets and any estimated removal costs recovered through approved depreciation rates. Estimated removal costs are recorded as either a cost of removal regulatory liability or an ARO liability on the Consolidated Balance Sheets, depending on whether the obligation meets the requirements of an ARO. As actual removal costs are incurred, the associated liability is reduced. | |
Generally when the Company retires or sells a component of regulated property, plant and equipment, it charges the original cost, net of any proceeds from the disposition, to accumulated depreciation. Any gain or loss on disposals of all other assets is recorded through earnings. | |
Debt and equity AFUDC, which represent the estimated costs of debt and equity funds necessary to finance the construction of regulated facilities, is capitalized by the Regulated Businesses as a component of property, plant and equipment, with offsetting credits to the Consolidated Statements of Operations. AFUDC is computed based on guidelines set forth by the Federal Energy Regulatory Commission ("FERC") and the Alberta Utilities Commission ("AUC"). After construction is completed, the Company is permitted to earn a return on these costs as a component of the related assets, as well as recover these costs through depreciation expense over the useful lives of the related assets. | |
Property, plant and equipment, net - asset retirement obligations [Policy Text Block] | Asset Retirement Obligations |
The Company recognizes AROs when it has a legal obligation to perform decommissioning, reclamation or removal activities upon retirement of an asset. The Company's AROs are primarily related to the decommissioning of nuclear generating facilities and obligations associated with its other generating facilities and offshore natural gas pipelines. The fair value of an ARO liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made, and is added to the carrying amount of the associated asset, which is then depreciated over the remaining useful life of the asset. Subsequent to the initial recognition, the ARO liability is adjusted for any revisions to the original estimate of undiscounted cash flows (with corresponding adjustments to property, plant and equipment, net) and for accretion of the ARO liability due to the passage of time. For the Regulated Businesses, the difference between the ARO liability, the corresponding ARO asset included in property, plant and equipment, net and amounts recovered in rates to satisfy such liabilities is recorded as a regulatory asset or liability. | |
Property, plant and equipment, net - impairment [Policy Text Block] | Impairment |
The Company evaluates long-lived assets for impairment, including property, plant and equipment, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or the assets are being held for sale. Upon the occurrence of a triggering event, the asset is reviewed to assess whether the estimated undiscounted cash flows expected from the use of the asset plus the residual value from the ultimate disposal exceeds the carrying value of the asset. If the carrying value exceeds the estimated recoverable amounts, the asset is written down to the estimated fair value and any resulting impairment loss is reflected on the Consolidated Statements of Operations. The impacts of regulation are considered when evaluating the carrying value of regulated assets. | |
Goodwill [Policy Text Block] | Goodwill |
Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations. The Company evaluates goodwill for impairment at least annually and completed its annual review as of October 31. When evaluating goodwill for impairment, the Company estimates the fair value of the reporting unit. If the carrying amount of a reporting unit, including goodwill, exceeds the estimated fair value, then the identifiable assets, including identifiable intangible assets, and liabilities of the reporting unit are estimated at fair value as of the current testing date. The excess of the estimated fair value of the reporting unit over the current estimated fair value of net assets establishes the implied value of goodwill. The excess of the recorded goodwill over the implied goodwill value is charged to earnings as an impairment loss. Significant judgment is required in estimating the fair value of the reporting unit and performing goodwill impairment tests. The Company uses a variety of methods to estimate a reporting unit's fair value, principally discounted projected future net cash flows. Key assumptions used include, but are not limited to, the use of estimated future cash flows; multiples of earnings; and an appropriate discount rate. In estimating future cash flows, the Company incorporates current market information, as well as historical factors. As such, the determination of fair value incorporates significant unobservable inputs. During 2014 and 2012, the Company did not record any goodwill impairments. The Company recognized a goodwill impairment of $53 million during 2013. | |
The Company records goodwill adjustments for (a) the tax benefit associated with the excess of tax-deductible goodwill over the reported amount of goodwill and (b) changes to the purchase price allocation prior to the end of the measurement period, which is not to exceed one year from the acquisition date. | |
Revenue recognition [Policy Text Block] | Revenue Recognition |
Energy Businesses | |
Revenue from energy business customers is recognized as electricity or natural gas is delivered or services are provided. Revenue recognized includes billed and unbilled amounts. As of December 31, 2014 and 2013, unbilled revenue was $666 million and $686 million, respectively, and is included in trade receivables, net on the Consolidated Balance Sheets. Rates for energy businesses are established by regulators or contractual arrangements. When preliminary regulated rates are permitted to be billed prior to final approval by the applicable regulator, certain revenue collected may be subject to refund and a liability for estimated refunds is accrued. The Company records sales, franchise and excise taxes collected directly from customers and remitted directly to the taxing authorities on a net basis on the Consolidated Statements of Operations. | |
Real Estate Commission Revenue, Mortgage Revenue and Franchise Royalty Fees | |
Commission revenue from real estate brokerage transactions and related amounts due to agents are recognized when a real estate transaction is closed. Title and escrow closing fee revenue from real estate transactions and related amounts due to the title insurer are recognized at closing. Mortgage fee revenue consists of amounts earned related to application and underwriting fees, and fees on canceled loans. Fees associated with the origination and acquisition of mortgage loans are recognized as earned. Franchise royalty fees are based on a percentage of commissions earned by franchisees on real estate sales and are recognized when the sale closes. | |
Unamortized debt premiums, discounts and financing costs [Policy Text Block] | Unamortized Debt Premiums, Discounts and Financing Costs |
Premiums, discounts and financing costs incurred for the issuance of long-term debt are amortized over the term of the related financing using the effective interest method. | |
Foreign currency [Policy Text Block] | Foreign Currency |
The accounts of foreign-based subsidiaries are measured in most instances using the local currency of the subsidiary as the functional currency. Revenue and expenses of these businesses are translated into United States dollars at the average exchange rate for the period. Assets and liabilities are translated at the exchange rate as of the end of the reporting period. Gains or losses from translating the financial statements of foreign-based operations are included in equity as a component of AOCI. Gains or losses arising from transactions denominated in a currency other than the functional currency of the entity that is party to the transaction are included in earnings. | |
Income taxes [Policy Text Block] | Income Taxes |
Berkshire Hathaway includes the Company in its United States federal income tax return. The Company's provision for income taxes has been computed on a stand-alone basis. | |
Deferred income tax assets and liabilities are based on differences between the financial statement and income tax basis of assets and liabilities using estimated income tax rates expected to be in effect for the year in which the differences are expected to reverse. Changes in deferred income tax assets and liabilities that are associated with components of OCI are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities that are associated with income tax benefits and expense for certain property-related basis differences and other various differences that PacifiCorp, MidAmerican Energy, Nevada Power and Sierra Pacific (the "Utilities") are required to pass on to their customers in most state jurisdictions are charged or credited directly to a regulatory asset or liability. As of December 31, 2014 and 2013, these amounts were recognized as regulatory assets of $1.4 billion and $1.4 billion, respectively, and regulatory liabilities of $24 million and $34 million, respectively, and will be included in regulated rates when the temporary differences reverse. Other changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted income tax rates are charged or credited to income tax expense or a regulatory asset or liability in the period of enactment. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount that is more-likely-than-not to be realized. Investment tax credits are generally deferred and amortized over the estimated useful lives of the related properties or as prescribed by various regulatory jurisdictions. | |
Unremitted earnings in foreign investment [Policy Text Block] | The Company has not established deferred income taxes on the undistributed foreign earnings of Northern Powergrid or AltaLink or the related currency translation adjustment that have been determined by management to be reinvested indefinitely. The cumulative undistributed foreign earnings were approximately $3.1 billion as of December 31, 2014. The Company periodically evaluates its capital requirements. If circumstances change in the future and a portion of Northern Powergrid's or AltaLink's undistributed earnings were repatriated, the dividends would be subject to taxation in the United States. However, any United States income tax liability would be offset, in part, by available United States income tax credits with respect to corporate income taxes previously paid principally in the United Kingdom. Because of the availability of foreign income tax credits, it is not practicable to determine the United States income tax liability that would be recognized if such cumulative earnings were not reinvested indefinitely. The Company has established deferred income taxes on all other undistributed foreign earnings. If opportunities become available to repatriate cash without triggering incremental United States income tax expense, the Company may distribute certain foreign earnings of Northern Powergrid. |
Income tax uncertainties [Policy Text Block] | In determining the Company's income taxes, management is required to interpret complex income tax laws and regulations, which includes consideration of regulatory implications imposed by the Company's various regulatory jurisdictions. The Company's income tax returns are subject to continuous examinations by federal, state, local and foreign income tax authorities that may give rise to different interpretations of these complex laws and regulations. Due to the nature of the examination process, it generally takes years before these examinations are completed and these matters are resolved. The Company recognizes the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Consolidated Financial Statements from such a position are measured based on the largest benefit that is more-likely-than-not to be realized upon ultimate settlement. Although the ultimate resolution of the Company's federal, state, local and foreign income tax examinations is uncertain, the Company believes it has made adequate provisions for these income tax positions. The aggregate amount of any additional income tax liabilities that may result from these examinations, if any, is not expected to have a material impact on the Company's consolidated financial results. The Company's unrecognized tax benefits are primarily included in accrued property, income and other taxes and other long-term liabilities on the Consolidated Balance Sheets. Estimated interest and penalties, if any, related to uncertain tax positions are included as a component of income tax expense on the Consolidated Statements of Operations. |
New accounting pronouncements [Policy Text Block] | New Accounting Pronouncements |
In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, which creates FASB Accounting Standards Codification ("ASC") Topic 606, "Revenue from Contracts with Customers" and supersedes ASC Topic 605, "Revenue Recognition." The guidance replaces industry-specific guidance and establishes a single five-step model to identify and recognize revenue. The core principle of the guidance is that an entity should recognize revenue upon transfer of control of promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. Additionally, the guidance requires the entity to disclose further quantitative and qualitative information regarding the nature and amount of revenues arising from contracts with customers, as well as other information about the significant judgments and estimates used in recognizing revenues from contracts with customers. This guidance is effective for interim and annual reporting periods beginning after December 15, 2016. Early application is not permitted. This guidance may be adopted retrospectively or under a modified retrospective method where the cumulative effect is recognized at the date of initial application. The Company is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. | |
In January 2014, the FASB issued ASU No. 2014-05, which amends FASB ASC Topic 853, "Service Concession Arrangements". The amendments in this guidance require an entity to not account for service concession arrangements as a lease and should also not recognize them as property, plant and equipment. This guidance is effective for interim and annual reporting periods beginning after December 15, 2014. This guidance should be adopted under a modified retrospective method where the cumulative effect is recognized at the date of initial application. The Company does not believe the adoption of this guidance will have a material impact on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. | |
In February 2013, the FASB issued ASU No. 2013-04, which amends FASB ASC Topic 405, "Liabilities." The amendments in this guidance require an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date as the amount the reporting entity agreed to pay plus any additional amounts the reporting entity expects to pay on behalf of its co-obligor. Additionally, the guidance requires the entity to disclose the nature and amount of the obligation, as well as other information about those obligations. The Company adopted this guidance on January 1, 2014. The adoption of this guidance did not have a material impact on the Company's disclosures included within Notes to Consolidated Financial Statements. |
Business_Acquisitions_Tables
Business Acquisitions (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Fair Value of Assets and Liabilities Assumed at the Acquisition Date [Abstract] | ||||||||
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date (in millions): | |||||||
Fair Value | ||||||||
Current assets, including cash and cash equivalents of $15 | $ | 174 | ||||||
Property, plant and equipment | 5,610 | |||||||
Goodwill | 1,700 | |||||||
Other long-term assets | 120 | |||||||
Total assets | 7,604 | |||||||
Current liabilities, including current portion of long-term debt of $79 | 843 | |||||||
Subsidiary debt, less current portion | 3,772 | |||||||
Deferred income taxes | 79 | |||||||
Other long-term liabilities | 182 | |||||||
Total liabilities | 4,876 | |||||||
Net assets acquired | $ | 2,728 | ||||||
The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date (in millions): | ||||||||
Fair Value | ||||||||
Current assets, including cash and cash equivalents of $304 | $ | 1,159 | ||||||
Property, plant and equipment | 9,511 | |||||||
Goodwill | 2,369 | |||||||
Other long-term assets | 1,347 | |||||||
Total assets | 14,386 | |||||||
Current liabilities, including current portion of long-term debt of $218 | 880 | |||||||
Subsidiary debt, less current portion | 5,116 | |||||||
Deferred income taxes | 1,731 | |||||||
Other long-term liabilities | 1,063 | |||||||
Total liabilities | 8,790 | |||||||
Net assets acquired | $ | 5,596 | ||||||
Business Acquisition, Pro Forma Information [Table Text Block] | The following unaudited pro forma financial information reflects the consolidated results of operations of BHE, non-recurring transaction, integration and other costs incurred by both BHE and NV Energy during 2013 totaling $74 million, after-tax, a one-time bill credit to retail customers of $13 million, after-tax, and the amortization of the purchase price adjustments each assuming the acquisition had taken place on January 1, 2012 (in millions): | |||||||
2013 | 2012 | |||||||
Operating revenue | $ | 15,561 | $ | 14,369 | ||||
Net income attributable to BHE shareholders | $ | 1,867 | $ | 1,638 | ||||
The following unaudited pro forma financial information reflects the consolidated results of operations of BHE, non-recurring transaction costs incurred by both BHE and AltaLink during 2014 and the amortization of the purchase price adjustments each assuming the acquisition had taken place on January 1, 2013 (in millions): | ||||||||
2014 | 2013 | |||||||
Operating revenue | $ | 17,888 | $ | 13,130 | ||||
Net income attributable to BHE shareholders | $ | 2,155 | $ | 1,667 | ||||
Property_Plant_and_Equipment_N1
Property, Plant and Equipment, Net (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Property, Plant and Equipment, Net [Abstract] | ||||||||||
Property, Plant and Equipment, Net [Table Text Block] | Property, plant and equipment, net consists of the following as of December 31 (in millions): | |||||||||
Depreciable | ||||||||||
Life | 2014 | 2013 | ||||||||
Regulated assets: | ||||||||||
Utility generation, distribution and transmission system | 5-80 years | $ | 64,645 | $ | 57,490 | |||||
Interstate pipeline assets | 3-80 years | 6,660 | 6,448 | |||||||
71,305 | 63,938 | |||||||||
Accumulated depreciation and amortization | (21,447 | ) | (19,874 | ) | ||||||
Regulated assets, net | 49,858 | 44,064 | ||||||||
Nonregulated assets: | ||||||||||
Independent power plants | 5-30 years | 4,362 | 1,994 | |||||||
Other assets | 3-30 years | 673 | 522 | |||||||
5,035 | 2,516 | |||||||||
Accumulated depreciation and amortization | (839 | ) | (678 | ) | ||||||
Nonregulated assets, net | 4,196 | 1,838 | ||||||||
Net operating assets | 54,054 | 45,902 | ||||||||
Construction work-in-progress | 5,194 | 4,217 | ||||||||
Property, plant and equipment, net | $ | 59,248 | $ | 50,119 | ||||||
Jointly_Owned_Utility_Faciliti1
Jointly Owned Utility Facilities (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Jointly Owned Utility Plant, Net Ownership Amount [Abstract] | |||||||||||||||
Jointly Owned Utility Facilities [Table Text Block] | The amounts shown in the table below represent the Company's share in each jointly owned facility as of December 31, 2014 (dollars in millions): | ||||||||||||||
Accumulated | Construction | ||||||||||||||
Company | Facility In | Depreciation and | Work-in- | ||||||||||||
Share | Service | Amortization | Progress | ||||||||||||
PacifiCorp: | |||||||||||||||
Jim Bridger Nos. 1-4 | 67 | % | $ | 1,134 | $ | 554 | $ | 116 | |||||||
Hunter No. 1 | 94 | 467 | 144 | — | |||||||||||
Hunter No. 2 | 60 | 290 | 88 | 1 | |||||||||||
Wyodak | 80 | 450 | 183 | 5 | |||||||||||
Colstrip Nos. 3 and 4 | 10 | 231 | 125 | 1 | |||||||||||
Hermiston(1) | 50 | 175 | 67 | 1 | |||||||||||
Craig Nos. 1 and 2 | 19 | 323 | 203 | 7 | |||||||||||
Hayden No. 1 | 25 | 55 | 27 | 12 | |||||||||||
Hayden No. 2 | 13 | 33 | 18 | 3 | |||||||||||
Foote Creek | 79 | 37 | 22 | — | |||||||||||
Transmission and distribution facilities | Various | 347 | 65 | — | |||||||||||
Total PacifiCorp | 3,542 | 1,496 | 146 | ||||||||||||
MidAmerican Energy: | |||||||||||||||
Louisa No. 1 | 88 | % | 747 | 392 | 4 | ||||||||||
Quad Cities Nos. 1 and 2(2) | 25 | 656 | 316 | 27 | |||||||||||
Walter Scott, Jr. No. 3 | 79 | 561 | 287 | 7 | |||||||||||
Walter Scott, Jr. No. 4(3) | 60 | 446 | 82 | 3 | |||||||||||
George Neal No. 4 | 41 | 303 | 142 | — | |||||||||||
Ottumwa No. 1 | 52 | 530 | 171 | 2 | |||||||||||
George Neal No. 3 | 72 | 390 | 141 | 3 | |||||||||||
Transmission facilities | Various | 243 | 81 | 17 | |||||||||||
Total MidAmerican Energy | 3,876 | 1,612 | 63 | ||||||||||||
NV Energy: | |||||||||||||||
Navajo | 11 | % | 198 | 135 | 2 | ||||||||||
Silverhawk | 75 | 241 | 55 | 5 | |||||||||||
Valmy | 50 | 343 | 213 | 27 | |||||||||||
Transmission facilities | Various | 221 | 32 | 2 | |||||||||||
Total NV Energy | 1,003 | 435 | 36 | ||||||||||||
BHE Pipeline Group - common facilities | Various | 311 | 175 | 2 | |||||||||||
Total | $ | 8,732 | $ | 3,718 | $ | 247 | |||||||||
-1 | PacifiCorp has contracted to purchase the remaining 50% of the output of the Hermiston generating facility. | ||||||||||||||
-2 | Includes amounts related to nuclear fuel. | ||||||||||||||
-3 | Facility in-service and accumulated depreciation and amortization amounts are net of credits applied under Iowa revenue sharing arrangements totaling $320 million and $60 million, respectively. |
Regulatory_Matters_Tables
Regulatory Matters (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Regulatory Assets and Liabilities Disclosure [Abstract] | ||||||||||
Regulatory Assets [Table Text Block] | Regulatory assets represent costs that are expected to be recovered in future regulated rates. The Company's regulatory assets reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): | |||||||||
Weighted | ||||||||||
Average | ||||||||||
Remaining Life | 2014 | 2013 | ||||||||
Deferred income taxes(1) | 26 years | $ | 1,468 | $ | 1,413 | |||||
Employee benefit plans(2) | 9 years | 747 | 589 | |||||||
Asset disposition costs(3) | Various | 329 | 23 | |||||||
Deferred net power costs | 1 year | 277 | 303 | |||||||
Asset retirement obligations | 10 years | 239 | 193 | |||||||
Unrealized loss on regulated derivative contracts | 5 years | 223 | 182 | |||||||
Abandoned projects | 5 years | 159 | 80 | |||||||
Unamortized contract values | 8 years | 123 | 146 | |||||||
Other | Various | 688 | 586 | |||||||
Total regulatory assets | $ | 4,253 | $ | 3,515 | ||||||
Reflected as: | ||||||||||
Current assets | $ | 253 | $ | 193 | ||||||
Noncurrent assets | 4,000 | 3,322 | ||||||||
Total regulatory assets | $ | 4,253 | $ | 3,515 | ||||||
-1 | Amounts primarily represent income tax benefits related to state accelerated tax depreciation and certain property-related basis differences that were previously flowed through to customers and will be included in regulated rates when the temporary differences reverse. | |||||||||
-2 | Represents amounts not yet recognized as a component of net periodic benefit cost that are expected to be included in regulated rates when recognized. | |||||||||
-3 | Includes amounts established as a result of the Utah Mine Disposition for the net property, plant and equipment not considered probable of disallowance and for the portion of losses associated with the assets held for sale, UMWA 1974 Pension Trust withdrawal and closure costs incurred to date considered probable of recovery. | |||||||||
Regulatory Liabilities [Table Text Block] | Regulatory liabilities represent income to be recognized or amounts to be returned to customers in future periods. The Company's regulatory liabilities reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): | |||||||||
Weighted | ||||||||||
Average | ||||||||||
Remaining Life | 2014 | 2013 | ||||||||
Cost of removal(1) | 28 years | $ | 2,215 | $ | 2,009 | |||||
Asset retirement obligations | 23 years | 169 | 151 | |||||||
Levelized depreciation | 27 years | 169 | 144 | |||||||
Employee benefit plans(2) | 12 years | 20 | 74 | |||||||
Other | Various | 259 | 287 | |||||||
Total regulatory liabilities | $ | 2,832 | $ | 2,665 | ||||||
Reflected as: | ||||||||||
Current liabilities | $ | 163 | $ | 167 | ||||||
Noncurrent liabilities | 2,669 | 2,498 | ||||||||
Total regulatory liabilities | $ | 2,832 | $ | 2,665 | ||||||
-1 | Amounts represent estimated costs, as accrued through depreciation rates and exclusive of ARO liabilities, of removing regulated property, plant and equipment in accordance with accepted regulatory practices. Amounts are deducted from rate base or otherwise accrue a carrying cost. | |||||||||
-2 | Represents amounts not yet recognized as a component of net periodic benefit cost that are to be returned to customers in future periods when recognized. |
Investments_and_Restricted_Cas1
Investments and Restricted Cash and Investments (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Investments and Restricted Cash and Investments [Abstract] | ||||||||
Investments and Restricted Cash and Investments [Table Text Block] | Investments and restricted cash and investments consists of the following as of December 31 (in millions): | |||||||
2014 | 2013 | |||||||
Investments: | ||||||||
BYD Company Limited common stock | $ | 881 | $ | 1,103 | ||||
Rabbi trusts | 386 | 373 | ||||||
Other | 126 | 126 | ||||||
Total investments | 1,393 | 1,602 | ||||||
Equity method investments: | ||||||||
Electric Transmission Texas, LLC | 515 | 454 | ||||||
Bridger Coal Company | 192 | 178 | ||||||
Agua Caliente Solar, LLC | 81 | 41 | ||||||
CE Generation | — | 185 | ||||||
Other | 80 | 85 | ||||||
Total equity method investments | 868 | 943 | ||||||
Restricted cash and investments: | ||||||||
Quad Cities Station nuclear decommissioning trust funds | 424 | 394 | ||||||
Solar Star and Topaz Projects | 66 | 236 | ||||||
Other | 167 | 126 | ||||||
Total restricted cash and investments | 657 | 756 | ||||||
Total investments and restricted cash and investments | $ | 2,918 | $ | 3,301 | ||||
Reflected as: | ||||||||
Current assets | $ | 115 | $ | 65 | ||||
Noncurrent assets | 2,803 | 3,236 | ||||||
Total investments and restricted cash and investments | $ | 2,918 | $ | 3,301 | ||||
ShortTerm_Debt_and_Credit_Faci1
Short-Term Debt and Credit Facilities (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||
Line of Credit Facility [Abstract] | ||||||||||||||||||||||||||||||||
Short-Term Debt and Credit Facilities [Table Text Block] | The following table summarizes BHE's and its subsidiaries' availability under their credit facilities as of December 31, (in millions): | |||||||||||||||||||||||||||||||
MidAmerican | NV | Northern | Home- | |||||||||||||||||||||||||||||
BHE | PacifiCorp | Funding | Energy | Powergrid | AltaLink | Services | Total(1) | |||||||||||||||||||||||||
2014:00:00 | ||||||||||||||||||||||||||||||||
Credit facilities | $ | 2,000 | $ | 1,200 | $ | 609 | $ | 650 | $ | 265 | $ | 1,119 | $ | 853 | $ | 6,696 | ||||||||||||||||
Less: | ||||||||||||||||||||||||||||||||
Short-term debt | (395 | ) | (20 | ) | (50 | ) | — | (215 | ) | (251 | ) | (514 | ) | (1,445 | ) | |||||||||||||||||
Tax-exempt bond support and letters of credit | (28 | ) | (398 | ) | (195 | ) | — | — | (4 | ) | — | (625 | ) | |||||||||||||||||||
Net credit facilities | $ | 1,577 | $ | 782 | $ | 364 | $ | 650 | $ | 50 | $ | 864 | $ | 339 | $ | 4,626 | ||||||||||||||||
2013:00:00 | ||||||||||||||||||||||||||||||||
Credit facilities | $ | 600 | $ | 1,200 | $ | 609 | $ | 750 | $ | 248 | $ | — | $ | 665 | $ | 4,072 | ||||||||||||||||
Less: | ||||||||||||||||||||||||||||||||
Short-term debt | — | — | — | — | (102 | ) | — | (130 | ) | (232 | ) | |||||||||||||||||||||
Tax-exempt bond support and letters of credit | (50 | ) | (321 | ) | (195 | ) | (6 | ) | — | — | — | (572 | ) | |||||||||||||||||||
Net credit facilities | $ | 550 | $ | 879 | $ | 414 | $ | 744 | $ | 146 | $ | — | $ | 535 | $ | 3,268 | ||||||||||||||||
-1 | The above table does not include unused credit facilities and letters of credit for investments that are accounted for under the equity method. |
BHE_Debt_Tables
BHE Debt (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
MEHC Debt [Abstract] | ||||||||||||
BHE Debt [Table Text Block] | Junior Subordinated Debentures | |||||||||||
BHE junior subordinated debentures consists of the following as of December 31 (in millions): | ||||||||||||
Par Value | 2014 | 2013 | ||||||||||
Junior subordinated debentures, due 2043 | $ | 2,294 | $ | 2,294 | $ | 2,594 | ||||||
Junior subordinated debentures, due 2044 | 1,500 | 1,500 | — | |||||||||
Total BHE junior subordinated debentures - noncurrent | $ | 3,794 | $ | 3,794 | $ | 2,594 | ||||||
Senior Debt | ||||||||||||
BHE senior debt represents unsecured senior obligations of BHE and consists of the following, including unamortized premiums and discounts, as of December 31 (in millions): | ||||||||||||
Par Value | 2014 | 2013 | ||||||||||
5.00% Senior Notes, due 2014 | $ | — | $ | — | $ | 250 | ||||||
1.10% Senior Notes, due 2017 | 400 | 400 | 400 | |||||||||
5.75% Senior Notes, due 2018 | 650 | 649 | 649 | |||||||||
2.00% Senior Notes, due 2018 | 350 | 350 | 350 | |||||||||
2.40% Senior Notes, due 2020 | 350 | 350 | — | |||||||||
3.75% Senior Notes, due 2023 | 500 | 500 | 500 | |||||||||
3.50% Senior Notes, due 2025 | 400 | 400 | — | |||||||||
8.48% Senior Notes, due 2028 | 475 | 482 | 483 | |||||||||
6.125% Senior Bonds, due 2036 | 1,700 | 1,699 | 1,699 | |||||||||
5.95% Senior Bonds, due 2037 | 550 | 548 | 548 | |||||||||
6.50% Senior Bonds, due 2037 | 1,000 | 992 | 992 | |||||||||
5.15% Senior Notes, due 2043 | 750 | 746 | 745 | |||||||||
4.50% Senior Notes, due 2045 | 750 | 744 | — | |||||||||
Total BHE Senior Debt | $ | 7,875 | $ | 7,860 | $ | 6,616 | ||||||
Reflected as: | ||||||||||||
Current liabilities | $ | — | $ | 250 | ||||||||
Noncurrent liabilities | 7,860 | 6,366 | ||||||||||
Total BHE Senior Debt | $ | 7,860 | $ | 6,616 | ||||||||
BHE Renewables | ||||||||||||
BHE Renewables' long-term debt consists of the following, including fair value adjustments, as of December 31 (dollars in millions): | ||||||||||||
Par Value | 2014 | 2013 | ||||||||||
Fixed-rate(1): | ||||||||||||
CE Generation Bonds, 7.416%, due 2018 | $ | 123 | $ | 125 | $ | — | ||||||
Salton Sea Funding Corporation Bonds, 7.475%, due 2018 | 69 | 71 | — | |||||||||
Cordova Funding Corporation Bonds, 8.48% to 9.07%, due 2019 | 126 | 125 | 139 | |||||||||
Bishop Hill Holdings Senior Notes, 5.125%, due 2032 | 109 | 109 | 114 | |||||||||
Solar Star Funding Senior Notes, 5.375%, due 2035 | 1,000 | 1,000 | 1,000 | |||||||||
Topaz Solar Farms Senior Notes, 5.750%, due 2039 | 850 | 850 | 850 | |||||||||
Topaz Solar Farms Senior Notes, 4.875%, due 2039 | 250 | 250 | 250 | |||||||||
Other | 27 | 27 | 30 | |||||||||
Variable-rate(1): | ||||||||||||
Pinyon Pines I and II Term Loans, due 2019(2) | 401 | 401 | 417 | |||||||||
Wailuku Special Purpose Revenue Bonds, 0.09%, due 2021 | 9 | 9 | — | |||||||||
Total BHE Renewables | $ | 2,964 | $ | 2,967 | $ | 2,800 | ||||||
-1 | Amortizes quarterly or semiannually. | |||||||||||
-2 | The term loans have variable interest rates based on LIBOR plus a spread that varies during the term of the agreement. The weighted average variable interest rate as of December 31, 2014 and 2013 was 1.88% and 2.87%, respectively. The Company has entered into interest rate swaps that fix the interest rate on 75% of the outstanding debt. The weighted average fixed interest rate for the 75% portion is fixed at 3.55% and 4.53% as of December 31, 2014 and 2013, respectively. | |||||||||||
BHE Pipeline Group' long-term debt consists of the following, including unamortized premiums and discounts, as of December 31 (dollars in millions): | ||||||||||||
Par Value | 2014 | 2013 | ||||||||||
Northern Natural Gas: | ||||||||||||
5.125% Senior Notes, due 2015 | $ | 100 | $ | 100 | $ | 100 | ||||||
5.75% Senior Notes, due 2018 | 200 | 200 | 200 | |||||||||
4.25% Senior Notes, due 2021 | 200 | 200 | 200 | |||||||||
5.8% Senior Bonds, due 2037 | 150 | 150 | 150 | |||||||||
4.1% Senior Bonds, due 2042 | 250 | 249 | 250 | |||||||||
Total Northern Natural Gas | 900 | 899 | 900 | |||||||||
Kern River: | ||||||||||||
6.676% Senior Notes, due 2016 | 167 | 167 | 197 | |||||||||
4.893% Senior Notes, due 2018 | 300 | 300 | 351 | |||||||||
Total Kern River | 467 | 467 | 548 | |||||||||
Total BHE Pipeline Group | $ | 1,367 | $ | 1,366 | $ | 1,448 | ||||||
Northern Powergrid | ||||||||||||
Northern Powergrid and its subsidiaries' long-term debt consists of the following, including fair value adjustments and unamortized premiums and discounts, as of December 31 (dollars in millions): | ||||||||||||
Par Value(1) | 2014 | 2013 | ||||||||||
8.875% Bonds, due 2020 | $ | 156 | $ | 174 | $ | 189 | ||||||
9.25% Bonds, due 2020 | 311 | 339 | 366 | |||||||||
3.901% to 4.586% European Investment Bank loans, due 2018 to 2022 | 420 | 420 | 444 | |||||||||
7.25% Bonds, due 2022 | 311 | 328 | 349 | |||||||||
7.25% Bonds, due 2028 | 290 | 299 | 319 | |||||||||
4.375% Bonds, due 2032 | 234 | 231 | 245 | |||||||||
5.125% Bonds, due 2035 | 311 | 310 | 328 | |||||||||
5.125% Bonds, due 2035 | 234 | 233 | 247 | |||||||||
Total Northern Powergrid | $ | 2,267 | $ | 2,334 | $ | 2,487 | ||||||
-1 | The par values for these debt instruments are denominated in sterling. | |||||||||||
NV Energy | ||||||||||||
NV Energy's long-term debt consists of the following, including fair value adjustments and unamortized premiums and discounts, as of December 31 (dollars in millions): | ||||||||||||
Par Value | 2014 | 2013 | ||||||||||
NV Energy: | ||||||||||||
Variable-rate Term Loan, due 2014(1) | $ | — | $ | — | $ | 195 | ||||||
6.250% Senior Notes, due 2020 | 315 | 362 | 369 | |||||||||
Total NV Energy | 315 | 362 | 564 | |||||||||
Nevada Power: | ||||||||||||
General and Refunding Mortgage Securities: | ||||||||||||
5.875% Series L, due 2015 | 250 | 250 | 250 | |||||||||
5.950% Series M, due 2016 | 210 | 210 | 210 | |||||||||
6.500% Series O, due 2018 | 325 | 323 | 324 | |||||||||
6.500% Series S, due 2018 | 499 | 498 | 499 | |||||||||
7.125% Series V, due 2019 | 500 | 501 | 501 | |||||||||
6.650% Series N, due 2036 | 367 | 361 | 363 | |||||||||
6.750% Series R, due 2037 | 349 | 348 | 349 | |||||||||
5.375% Series X, due 2040 | 250 | 249 | 249 | |||||||||
5.450% Series Y, due 2041 | 250 | 250 | 250 | |||||||||
Variable-rate series (2014-0.455% to 0.464%, 2013 0.454% to 0.459%): | ||||||||||||
Pollution Control Revenue Bonds Series 2006A, due 2032 | 38 | 38 | 38 | |||||||||
Pollution Control Revenue Bonds Series 2006, due 2036 | 38 | 38 | 38 | |||||||||
Capital lease obligations - 2.75% to 11.6%, due through 2054 | 510 | 510 | 461 | |||||||||
Total Nevada Power | 3,586 | 3,576 | 3,532 | |||||||||
Sierra Pacific: | ||||||||||||
General and Refunding Mortgage Securities: | ||||||||||||
6.000% Series M, due 2016 | 450 | 452 | 453 | |||||||||
3.375% Series T, due 2023 | 250 | 250 | 250 | |||||||||
6.750% Series P, due 2037 | 252 | 258 | 259 | |||||||||
Variable-rate series (2014-0.464% to 0.466%, 2013-0.459% to 0.463%): | ||||||||||||
Pollution Control Revenue Bonds Series 2006A, due 2031 | 58 | 58 | 58 | |||||||||
Pollution Control Revenue Bonds Series 2006B, due 2036 | 75 | 75 | 75 | |||||||||
Pollution Control Revenue Bonds Series 2006C, due 2036 | 81 | 81 | 81 | |||||||||
Capital lease obligations - 2.7% to 8.814%, due through 2054 | 26 | 26 | 24 | |||||||||
Total Sierra Pacific | 1,192 | 1,200 | 1,200 | |||||||||
Total NV Energy | $ | 5,093 | $ | 5,138 | $ | 5,296 | ||||||
-1 | The term loan had a variable interest rate based on LIBOR plus a spread that varied during the term of the agreement. The variable interest rate as of December 31, 2013 was 1.92%. The Company had an interest rate swap that fixed the interest rate at 2.56% as of December 31, 2013. | |||||||||||
PacifiCorp | ||||||||||||
PacifiCorp's long-term debt consists of the following, including unamortized premiums and discounts, as of December 31 (dollars in millions): | ||||||||||||
Par Value | 2014 | 2013 | ||||||||||
First mortgage bonds: | ||||||||||||
5.50% to 8.635%, due through 2019 | $ | 862 | $ | 861 | $ | 1,070 | ||||||
2.95% to 8.53%, due 2021 to 2024 | 1,899 | 1,897 | 1,472 | |||||||||
6.71% due 2026 | 100 | 100 | 100 | |||||||||
5.90% to 7.70%, due 2031 to 2034 | 500 | 499 | 499 | |||||||||
5.25% to 6.35%, due 2035 to 2039 | 2,800 | 2,792 | 2,791 | |||||||||
4.10% due 2042 | 300 | 299 | 299 | |||||||||
Variable-rate series, tax-exempt bond obligations (2014-0.02% to 0.28%; 2013-0.03% to 0.52%): | ||||||||||||
Due 2015 to 2025(1) | 223 | 223 | 325 | |||||||||
Due 2015 to 2024(1)(2) | 221 | 221 | 221 | |||||||||
Due 2016 to 2025(2) | 36 | 36 | 51 | |||||||||
Due 2017 to 2018 | 91 | 91 | — | |||||||||
Capital lease obligations - 8.75% to 15.678%, due through 2036 | 70 | 70 | 105 | |||||||||
Total PacifiCorp | $ | 7,102 | $ | 7,089 | $ | 6,933 | ||||||
-1 | Supported by $451 million and $559 million of fully available letters of credit issued under committed bank arrangements as of December 31, 2014 and 2013, respectively. | |||||||||||
-2 | Secured by pledged first mortgage bonds registered to and held by the tax-exempt bond trustee generally with the same interest rates, maturity dates and redemption provisions as the tax-exempt bond obligations. | |||||||||||
BHE Transmission's long-term debt consists of the following, including fair value adjustments and unamortized premiums and discounts, as of December 31, (dollars in millions): | ||||||||||||
Par Value(1) | 2014 | 2013 | ||||||||||
AltaLink Investments, L.P.: | ||||||||||||
Series 09-1 Senior Bonds, 5.207%, due 2016 | $ | 128 | $ | 136 | $ | — | ||||||
Series 12-1 Senior Bonds, 3.674%, due 2019 | 172 | 181 | — | |||||||||
Series 13-1 Senior Bonds, 3.265%, due 2020 | 172 | 177 | — | |||||||||
Total AltaLink Investments, L.P. | 472 | 494 | — | |||||||||
AltaLink Holdings, L.P. Senior debentures, 10.5%, due 2015 | 78 | 78 | — | |||||||||
ALP: | ||||||||||||
Series 2008-1 Notes, 5.243%, due 2018 | 172 | 171 | — | |||||||||
Series 2013-2 Notes, 3.621%, due 2020 | 108 | 108 | — | |||||||||
Series 2012-2 Notes, 2.978%, due 2022 | 237 | 237 | — | |||||||||
Series 2013-4 Notes, 3.668%, due 2023 | 430 | 430 | — | |||||||||
Series 2014-1 Notes, 3.399%, due 2024 | 301 | 301 | — | |||||||||
Series 2006-1 Notes, 5.249%, due 2036 | 129 | 129 | — | |||||||||
Series 2010-1 Notes, 5.381%, due 2040 | 108 | 108 | — | |||||||||
Series 2010-2 Notes, 4.872%, due 2040 | 129 | 129 | — | |||||||||
Series 2011-1 Notes, 4.462%, due 2041 | 237 | 237 | — | |||||||||
Series 2012-1 Notes, 3.99%, due 2042 | 452 | 452 | — | |||||||||
Series 2013-3 Notes, 4.922%, due 2043 | 301 | 301 | — | |||||||||
Series 2014-3 Notes, 4.054%, due 2044 | 254 | 254 | — | |||||||||
Series 2013-1 Notes, 4.446%, due 2053 | 215 | 215 | — | |||||||||
Series 2014-2 Notes, 4.274%, due 2064 | 112 | 112 | — | |||||||||
Total AltaLink, L.P. | 3,185 | 3,184 | — | |||||||||
Total BHE Transmission | $ | 3,735 | $ | 3,756 | $ | — | ||||||
-1 | The par values for these debt instruments are denominated in Canadian dollars. | |||||||||||
Long-term debt of subsidiaries consists of the following, including fair value adjustments and unamortized premiums and discounts, as of December 31 (in millions): | ||||||||||||
Par Value | 2014 | 2013 | ||||||||||
PacifiCorp | $ | 7,102 | $ | 7,089 | $ | 6,933 | ||||||
MidAmerican Funding | 4,396 | 4,345 | 3,838 | |||||||||
NV Energy | 5,093 | 5,138 | 5,296 | |||||||||
Northern Powergrid | 2,267 | 2,334 | 2,487 | |||||||||
BHE Pipeline Group | 1,367 | 1,366 | 1,448 | |||||||||
BHE Transmission | 3,735 | 3,756 | — | |||||||||
BHE Renewables | 2,964 | 2,967 | 2,800 | |||||||||
Total subsidiary debt | $ | 26,924 | $ | 26,995 | $ | 22,802 | ||||||
Reflected as: | ||||||||||||
Current liabilities | $ | 1,232 | $ | 938 | ||||||||
Noncurrent liabilities | 25,763 | 21,864 | ||||||||||
Total subsidiary debt | $ | 26,995 | $ | 22,802 | ||||||||
MidAmerican Funding | ||||||||||||
MidAmerican Funding's long-term debt consists of the following, including fair value adjustments and unamortized premiums and discounts, as of December 31 (dollars in millions): | ||||||||||||
Par Value | 2014 | 2013 | ||||||||||
MidAmerican Funding: | ||||||||||||
6.927% Senior Bonds, due 2029 | $ | 325 | $ | 289 | $ | 288 | ||||||
MidAmerican Energy: | ||||||||||||
Tax-exempt bond obligations - | ||||||||||||
Variable-rate series (2014-0.07%, 2013-0.08%), due 2016-2038 | 195 | 195 | 195 | |||||||||
First Mortgage Bonds: | ||||||||||||
2.40%, due 2019 | 500 | 500 | 350 | |||||||||
3.70%, due 2023 | 250 | 249 | 249 | |||||||||
3.50%, due 2024 | 300 | 299 | — | |||||||||
4.80%, due 2043 | 350 | 348 | 348 | |||||||||
4.40%, due 2044 | 400 | 398 | — | |||||||||
Notes: | ||||||||||||
4.65% Series, due 2014 | — | — | 350 | |||||||||
5.95% Series, due 2017 | 250 | 250 | 250 | |||||||||
5.3% Series, due 2018 | 350 | 350 | 349 | |||||||||
6.75% Series, due 2031 | 400 | 397 | 397 | |||||||||
5.75% Series, due 2035 | 300 | 300 | 300 | |||||||||
5.8% Series, due 2036 | 350 | 350 | 350 | |||||||||
Turbine purchase obligation, 1.43% due 2015(1) | 426 | 420 | 412 | |||||||||
Total MidAmerican Energy | 4,071 | 4,056 | 3,550 | |||||||||
Total MidAmerican Funding | $ | 4,396 | $ | 4,345 | $ | 3,838 | ||||||
-1 | In conjunction with the construction of wind-powered generating facilities, MidAmerican Energy has accrued as property, plant and equipment, net amounts it is not contractually obligated to pay until the future. The amounts ultimately payable were discounted and recognized upon delivery of the equipment as long-term debt. The discount is being amortized as interest expense over the period until payment is due using the effective interest method. |
Subsidiary_Debt_Tables
Subsidiary Debt (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||
Subsidiary Debt [Table Text Block] | Junior Subordinated Debentures | |||||||||||||||||||||||||||
BHE junior subordinated debentures consists of the following as of December 31 (in millions): | ||||||||||||||||||||||||||||
Par Value | 2014 | 2013 | ||||||||||||||||||||||||||
Junior subordinated debentures, due 2043 | $ | 2,294 | $ | 2,294 | $ | 2,594 | ||||||||||||||||||||||
Junior subordinated debentures, due 2044 | 1,500 | 1,500 | — | |||||||||||||||||||||||||
Total BHE junior subordinated debentures - noncurrent | $ | 3,794 | $ | 3,794 | $ | 2,594 | ||||||||||||||||||||||
Senior Debt | ||||||||||||||||||||||||||||
BHE senior debt represents unsecured senior obligations of BHE and consists of the following, including unamortized premiums and discounts, as of December 31 (in millions): | ||||||||||||||||||||||||||||
Par Value | 2014 | 2013 | ||||||||||||||||||||||||||
5.00% Senior Notes, due 2014 | $ | — | $ | — | $ | 250 | ||||||||||||||||||||||
1.10% Senior Notes, due 2017 | 400 | 400 | 400 | |||||||||||||||||||||||||
5.75% Senior Notes, due 2018 | 650 | 649 | 649 | |||||||||||||||||||||||||
2.00% Senior Notes, due 2018 | 350 | 350 | 350 | |||||||||||||||||||||||||
2.40% Senior Notes, due 2020 | 350 | 350 | — | |||||||||||||||||||||||||
3.75% Senior Notes, due 2023 | 500 | 500 | 500 | |||||||||||||||||||||||||
3.50% Senior Notes, due 2025 | 400 | 400 | — | |||||||||||||||||||||||||
8.48% Senior Notes, due 2028 | 475 | 482 | 483 | |||||||||||||||||||||||||
6.125% Senior Bonds, due 2036 | 1,700 | 1,699 | 1,699 | |||||||||||||||||||||||||
5.95% Senior Bonds, due 2037 | 550 | 548 | 548 | |||||||||||||||||||||||||
6.50% Senior Bonds, due 2037 | 1,000 | 992 | 992 | |||||||||||||||||||||||||
5.15% Senior Notes, due 2043 | 750 | 746 | 745 | |||||||||||||||||||||||||
4.50% Senior Notes, due 2045 | 750 | 744 | — | |||||||||||||||||||||||||
Total BHE Senior Debt | $ | 7,875 | $ | 7,860 | $ | 6,616 | ||||||||||||||||||||||
Reflected as: | ||||||||||||||||||||||||||||
Current liabilities | $ | — | $ | 250 | ||||||||||||||||||||||||
Noncurrent liabilities | 7,860 | 6,366 | ||||||||||||||||||||||||||
Total BHE Senior Debt | $ | 7,860 | $ | 6,616 | ||||||||||||||||||||||||
BHE Renewables | ||||||||||||||||||||||||||||
BHE Renewables' long-term debt consists of the following, including fair value adjustments, as of December 31 (dollars in millions): | ||||||||||||||||||||||||||||
Par Value | 2014 | 2013 | ||||||||||||||||||||||||||
Fixed-rate(1): | ||||||||||||||||||||||||||||
CE Generation Bonds, 7.416%, due 2018 | $ | 123 | $ | 125 | $ | — | ||||||||||||||||||||||
Salton Sea Funding Corporation Bonds, 7.475%, due 2018 | 69 | 71 | — | |||||||||||||||||||||||||
Cordova Funding Corporation Bonds, 8.48% to 9.07%, due 2019 | 126 | 125 | 139 | |||||||||||||||||||||||||
Bishop Hill Holdings Senior Notes, 5.125%, due 2032 | 109 | 109 | 114 | |||||||||||||||||||||||||
Solar Star Funding Senior Notes, 5.375%, due 2035 | 1,000 | 1,000 | 1,000 | |||||||||||||||||||||||||
Topaz Solar Farms Senior Notes, 5.750%, due 2039 | 850 | 850 | 850 | |||||||||||||||||||||||||
Topaz Solar Farms Senior Notes, 4.875%, due 2039 | 250 | 250 | 250 | |||||||||||||||||||||||||
Other | 27 | 27 | 30 | |||||||||||||||||||||||||
Variable-rate(1): | ||||||||||||||||||||||||||||
Pinyon Pines I and II Term Loans, due 2019(2) | 401 | 401 | 417 | |||||||||||||||||||||||||
Wailuku Special Purpose Revenue Bonds, 0.09%, due 2021 | 9 | 9 | — | |||||||||||||||||||||||||
Total BHE Renewables | $ | 2,964 | $ | 2,967 | $ | 2,800 | ||||||||||||||||||||||
-1 | Amortizes quarterly or semiannually. | |||||||||||||||||||||||||||
-2 | The term loans have variable interest rates based on LIBOR plus a spread that varies during the term of the agreement. The weighted average variable interest rate as of December 31, 2014 and 2013 was 1.88% and 2.87%, respectively. The Company has entered into interest rate swaps that fix the interest rate on 75% of the outstanding debt. The weighted average fixed interest rate for the 75% portion is fixed at 3.55% and 4.53% as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||
BHE Pipeline Group' long-term debt consists of the following, including unamortized premiums and discounts, as of December 31 (dollars in millions): | ||||||||||||||||||||||||||||
Par Value | 2014 | 2013 | ||||||||||||||||||||||||||
Northern Natural Gas: | ||||||||||||||||||||||||||||
5.125% Senior Notes, due 2015 | $ | 100 | $ | 100 | $ | 100 | ||||||||||||||||||||||
5.75% Senior Notes, due 2018 | 200 | 200 | 200 | |||||||||||||||||||||||||
4.25% Senior Notes, due 2021 | 200 | 200 | 200 | |||||||||||||||||||||||||
5.8% Senior Bonds, due 2037 | 150 | 150 | 150 | |||||||||||||||||||||||||
4.1% Senior Bonds, due 2042 | 250 | 249 | 250 | |||||||||||||||||||||||||
Total Northern Natural Gas | 900 | 899 | 900 | |||||||||||||||||||||||||
Kern River: | ||||||||||||||||||||||||||||
6.676% Senior Notes, due 2016 | 167 | 167 | 197 | |||||||||||||||||||||||||
4.893% Senior Notes, due 2018 | 300 | 300 | 351 | |||||||||||||||||||||||||
Total Kern River | 467 | 467 | 548 | |||||||||||||||||||||||||
Total BHE Pipeline Group | $ | 1,367 | $ | 1,366 | $ | 1,448 | ||||||||||||||||||||||
Northern Powergrid | ||||||||||||||||||||||||||||
Northern Powergrid and its subsidiaries' long-term debt consists of the following, including fair value adjustments and unamortized premiums and discounts, as of December 31 (dollars in millions): | ||||||||||||||||||||||||||||
Par Value(1) | 2014 | 2013 | ||||||||||||||||||||||||||
8.875% Bonds, due 2020 | $ | 156 | $ | 174 | $ | 189 | ||||||||||||||||||||||
9.25% Bonds, due 2020 | 311 | 339 | 366 | |||||||||||||||||||||||||
3.901% to 4.586% European Investment Bank loans, due 2018 to 2022 | 420 | 420 | 444 | |||||||||||||||||||||||||
7.25% Bonds, due 2022 | 311 | 328 | 349 | |||||||||||||||||||||||||
7.25% Bonds, due 2028 | 290 | 299 | 319 | |||||||||||||||||||||||||
4.375% Bonds, due 2032 | 234 | 231 | 245 | |||||||||||||||||||||||||
5.125% Bonds, due 2035 | 311 | 310 | 328 | |||||||||||||||||||||||||
5.125% Bonds, due 2035 | 234 | 233 | 247 | |||||||||||||||||||||||||
Total Northern Powergrid | $ | 2,267 | $ | 2,334 | $ | 2,487 | ||||||||||||||||||||||
-1 | The par values for these debt instruments are denominated in sterling. | |||||||||||||||||||||||||||
NV Energy | ||||||||||||||||||||||||||||
NV Energy's long-term debt consists of the following, including fair value adjustments and unamortized premiums and discounts, as of December 31 (dollars in millions): | ||||||||||||||||||||||||||||
Par Value | 2014 | 2013 | ||||||||||||||||||||||||||
NV Energy: | ||||||||||||||||||||||||||||
Variable-rate Term Loan, due 2014(1) | $ | — | $ | — | $ | 195 | ||||||||||||||||||||||
6.250% Senior Notes, due 2020 | 315 | 362 | 369 | |||||||||||||||||||||||||
Total NV Energy | 315 | 362 | 564 | |||||||||||||||||||||||||
Nevada Power: | ||||||||||||||||||||||||||||
General and Refunding Mortgage Securities: | ||||||||||||||||||||||||||||
5.875% Series L, due 2015 | 250 | 250 | 250 | |||||||||||||||||||||||||
5.950% Series M, due 2016 | 210 | 210 | 210 | |||||||||||||||||||||||||
6.500% Series O, due 2018 | 325 | 323 | 324 | |||||||||||||||||||||||||
6.500% Series S, due 2018 | 499 | 498 | 499 | |||||||||||||||||||||||||
7.125% Series V, due 2019 | 500 | 501 | 501 | |||||||||||||||||||||||||
6.650% Series N, due 2036 | 367 | 361 | 363 | |||||||||||||||||||||||||
6.750% Series R, due 2037 | 349 | 348 | 349 | |||||||||||||||||||||||||
5.375% Series X, due 2040 | 250 | 249 | 249 | |||||||||||||||||||||||||
5.450% Series Y, due 2041 | 250 | 250 | 250 | |||||||||||||||||||||||||
Variable-rate series (2014-0.455% to 0.464%, 2013 0.454% to 0.459%): | ||||||||||||||||||||||||||||
Pollution Control Revenue Bonds Series 2006A, due 2032 | 38 | 38 | 38 | |||||||||||||||||||||||||
Pollution Control Revenue Bonds Series 2006, due 2036 | 38 | 38 | 38 | |||||||||||||||||||||||||
Capital lease obligations - 2.75% to 11.6%, due through 2054 | 510 | 510 | 461 | |||||||||||||||||||||||||
Total Nevada Power | 3,586 | 3,576 | 3,532 | |||||||||||||||||||||||||
Sierra Pacific: | ||||||||||||||||||||||||||||
General and Refunding Mortgage Securities: | ||||||||||||||||||||||||||||
6.000% Series M, due 2016 | 450 | 452 | 453 | |||||||||||||||||||||||||
3.375% Series T, due 2023 | 250 | 250 | 250 | |||||||||||||||||||||||||
6.750% Series P, due 2037 | 252 | 258 | 259 | |||||||||||||||||||||||||
Variable-rate series (2014-0.464% to 0.466%, 2013-0.459% to 0.463%): | ||||||||||||||||||||||||||||
Pollution Control Revenue Bonds Series 2006A, due 2031 | 58 | 58 | 58 | |||||||||||||||||||||||||
Pollution Control Revenue Bonds Series 2006B, due 2036 | 75 | 75 | 75 | |||||||||||||||||||||||||
Pollution Control Revenue Bonds Series 2006C, due 2036 | 81 | 81 | 81 | |||||||||||||||||||||||||
Capital lease obligations - 2.7% to 8.814%, due through 2054 | 26 | 26 | 24 | |||||||||||||||||||||||||
Total Sierra Pacific | 1,192 | 1,200 | 1,200 | |||||||||||||||||||||||||
Total NV Energy | $ | 5,093 | $ | 5,138 | $ | 5,296 | ||||||||||||||||||||||
-1 | The term loan had a variable interest rate based on LIBOR plus a spread that varied during the term of the agreement. The variable interest rate as of December 31, 2013 was 1.92%. The Company had an interest rate swap that fixed the interest rate at 2.56% as of December 31, 2013. | |||||||||||||||||||||||||||
PacifiCorp | ||||||||||||||||||||||||||||
PacifiCorp's long-term debt consists of the following, including unamortized premiums and discounts, as of December 31 (dollars in millions): | ||||||||||||||||||||||||||||
Par Value | 2014 | 2013 | ||||||||||||||||||||||||||
First mortgage bonds: | ||||||||||||||||||||||||||||
5.50% to 8.635%, due through 2019 | $ | 862 | $ | 861 | $ | 1,070 | ||||||||||||||||||||||
2.95% to 8.53%, due 2021 to 2024 | 1,899 | 1,897 | 1,472 | |||||||||||||||||||||||||
6.71% due 2026 | 100 | 100 | 100 | |||||||||||||||||||||||||
5.90% to 7.70%, due 2031 to 2034 | 500 | 499 | 499 | |||||||||||||||||||||||||
5.25% to 6.35%, due 2035 to 2039 | 2,800 | 2,792 | 2,791 | |||||||||||||||||||||||||
4.10% due 2042 | 300 | 299 | 299 | |||||||||||||||||||||||||
Variable-rate series, tax-exempt bond obligations (2014-0.02% to 0.28%; 2013-0.03% to 0.52%): | ||||||||||||||||||||||||||||
Due 2015 to 2025(1) | 223 | 223 | 325 | |||||||||||||||||||||||||
Due 2015 to 2024(1)(2) | 221 | 221 | 221 | |||||||||||||||||||||||||
Due 2016 to 2025(2) | 36 | 36 | 51 | |||||||||||||||||||||||||
Due 2017 to 2018 | 91 | 91 | — | |||||||||||||||||||||||||
Capital lease obligations - 8.75% to 15.678%, due through 2036 | 70 | 70 | 105 | |||||||||||||||||||||||||
Total PacifiCorp | $ | 7,102 | $ | 7,089 | $ | 6,933 | ||||||||||||||||||||||
-1 | Supported by $451 million and $559 million of fully available letters of credit issued under committed bank arrangements as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||
-2 | Secured by pledged first mortgage bonds registered to and held by the tax-exempt bond trustee generally with the same interest rates, maturity dates and redemption provisions as the tax-exempt bond obligations. | |||||||||||||||||||||||||||
BHE Transmission's long-term debt consists of the following, including fair value adjustments and unamortized premiums and discounts, as of December 31, (dollars in millions): | ||||||||||||||||||||||||||||
Par Value(1) | 2014 | 2013 | ||||||||||||||||||||||||||
AltaLink Investments, L.P.: | ||||||||||||||||||||||||||||
Series 09-1 Senior Bonds, 5.207%, due 2016 | $ | 128 | $ | 136 | $ | — | ||||||||||||||||||||||
Series 12-1 Senior Bonds, 3.674%, due 2019 | 172 | 181 | — | |||||||||||||||||||||||||
Series 13-1 Senior Bonds, 3.265%, due 2020 | 172 | 177 | — | |||||||||||||||||||||||||
Total AltaLink Investments, L.P. | 472 | 494 | — | |||||||||||||||||||||||||
AltaLink Holdings, L.P. Senior debentures, 10.5%, due 2015 | 78 | 78 | — | |||||||||||||||||||||||||
ALP: | ||||||||||||||||||||||||||||
Series 2008-1 Notes, 5.243%, due 2018 | 172 | 171 | — | |||||||||||||||||||||||||
Series 2013-2 Notes, 3.621%, due 2020 | 108 | 108 | — | |||||||||||||||||||||||||
Series 2012-2 Notes, 2.978%, due 2022 | 237 | 237 | — | |||||||||||||||||||||||||
Series 2013-4 Notes, 3.668%, due 2023 | 430 | 430 | — | |||||||||||||||||||||||||
Series 2014-1 Notes, 3.399%, due 2024 | 301 | 301 | — | |||||||||||||||||||||||||
Series 2006-1 Notes, 5.249%, due 2036 | 129 | 129 | — | |||||||||||||||||||||||||
Series 2010-1 Notes, 5.381%, due 2040 | 108 | 108 | — | |||||||||||||||||||||||||
Series 2010-2 Notes, 4.872%, due 2040 | 129 | 129 | — | |||||||||||||||||||||||||
Series 2011-1 Notes, 4.462%, due 2041 | 237 | 237 | — | |||||||||||||||||||||||||
Series 2012-1 Notes, 3.99%, due 2042 | 452 | 452 | — | |||||||||||||||||||||||||
Series 2013-3 Notes, 4.922%, due 2043 | 301 | 301 | — | |||||||||||||||||||||||||
Series 2014-3 Notes, 4.054%, due 2044 | 254 | 254 | — | |||||||||||||||||||||||||
Series 2013-1 Notes, 4.446%, due 2053 | 215 | 215 | — | |||||||||||||||||||||||||
Series 2014-2 Notes, 4.274%, due 2064 | 112 | 112 | — | |||||||||||||||||||||||||
Total AltaLink, L.P. | 3,185 | 3,184 | — | |||||||||||||||||||||||||
Total BHE Transmission | $ | 3,735 | $ | 3,756 | $ | — | ||||||||||||||||||||||
-1 | The par values for these debt instruments are denominated in Canadian dollars. | |||||||||||||||||||||||||||
Long-term debt of subsidiaries consists of the following, including fair value adjustments and unamortized premiums and discounts, as of December 31 (in millions): | ||||||||||||||||||||||||||||
Par Value | 2014 | 2013 | ||||||||||||||||||||||||||
PacifiCorp | $ | 7,102 | $ | 7,089 | $ | 6,933 | ||||||||||||||||||||||
MidAmerican Funding | 4,396 | 4,345 | 3,838 | |||||||||||||||||||||||||
NV Energy | 5,093 | 5,138 | 5,296 | |||||||||||||||||||||||||
Northern Powergrid | 2,267 | 2,334 | 2,487 | |||||||||||||||||||||||||
BHE Pipeline Group | 1,367 | 1,366 | 1,448 | |||||||||||||||||||||||||
BHE Transmission | 3,735 | 3,756 | — | |||||||||||||||||||||||||
BHE Renewables | 2,964 | 2,967 | 2,800 | |||||||||||||||||||||||||
Total subsidiary debt | $ | 26,924 | $ | 26,995 | $ | 22,802 | ||||||||||||||||||||||
Reflected as: | ||||||||||||||||||||||||||||
Current liabilities | $ | 1,232 | $ | 938 | ||||||||||||||||||||||||
Noncurrent liabilities | 25,763 | 21,864 | ||||||||||||||||||||||||||
Total subsidiary debt | $ | 26,995 | $ | 22,802 | ||||||||||||||||||||||||
MidAmerican Funding | ||||||||||||||||||||||||||||
MidAmerican Funding's long-term debt consists of the following, including fair value adjustments and unamortized premiums and discounts, as of December 31 (dollars in millions): | ||||||||||||||||||||||||||||
Par Value | 2014 | 2013 | ||||||||||||||||||||||||||
MidAmerican Funding: | ||||||||||||||||||||||||||||
6.927% Senior Bonds, due 2029 | $ | 325 | $ | 289 | $ | 288 | ||||||||||||||||||||||
MidAmerican Energy: | ||||||||||||||||||||||||||||
Tax-exempt bond obligations - | ||||||||||||||||||||||||||||
Variable-rate series (2014-0.07%, 2013-0.08%), due 2016-2038 | 195 | 195 | 195 | |||||||||||||||||||||||||
First Mortgage Bonds: | ||||||||||||||||||||||||||||
2.40%, due 2019 | 500 | 500 | 350 | |||||||||||||||||||||||||
3.70%, due 2023 | 250 | 249 | 249 | |||||||||||||||||||||||||
3.50%, due 2024 | 300 | 299 | — | |||||||||||||||||||||||||
4.80%, due 2043 | 350 | 348 | 348 | |||||||||||||||||||||||||
4.40%, due 2044 | 400 | 398 | — | |||||||||||||||||||||||||
Notes: | ||||||||||||||||||||||||||||
4.65% Series, due 2014 | — | — | 350 | |||||||||||||||||||||||||
5.95% Series, due 2017 | 250 | 250 | 250 | |||||||||||||||||||||||||
5.3% Series, due 2018 | 350 | 350 | 349 | |||||||||||||||||||||||||
6.75% Series, due 2031 | 400 | 397 | 397 | |||||||||||||||||||||||||
5.75% Series, due 2035 | 300 | 300 | 300 | |||||||||||||||||||||||||
5.8% Series, due 2036 | 350 | 350 | 350 | |||||||||||||||||||||||||
Turbine purchase obligation, 1.43% due 2015(1) | 426 | 420 | 412 | |||||||||||||||||||||||||
Total MidAmerican Energy | 4,071 | 4,056 | 3,550 | |||||||||||||||||||||||||
Total MidAmerican Funding | $ | 4,396 | $ | 4,345 | $ | 3,838 | ||||||||||||||||||||||
-1 | In conjunction with the construction of wind-powered generating facilities, MidAmerican Energy has accrued as property, plant and equipment, net amounts it is not contractually obligated to pay until the future. The amounts ultimately payable were discounted and recognized upon delivery of the equipment as long-term debt. The discount is being amortized as interest expense over the period until payment is due using the effective interest method. | |||||||||||||||||||||||||||
Maturities of Long-term Debt [Table Text Block] | Annual Repayments of Long-Term Debt | |||||||||||||||||||||||||||
The annual repayments of BHE and subsidiary debt for the years beginning January 1, 2015 and thereafter, excluding fair value adjustments and unamortized premiums and discounts, are as follows (in millions): | ||||||||||||||||||||||||||||
2020 and | ||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | ||||||||||||||||||||||
BHE senior notes | $ | — | $ | — | $ | 400 | $ | 1,000 | $ | — | $ | 6,475 | $ | 7,875 | ||||||||||||||
BHE junior subordinated debentures | — | — | — | — | — | 3,794 | 3,794 | |||||||||||||||||||||
PacifiCorp | 157 | 71 | 58 | 589 | 353 | 5,874 | 7,102 | |||||||||||||||||||||
MidAmerican Funding | 426 | 34 | 254 | 350 | 500 | 2,832 | 4,396 | |||||||||||||||||||||
NV Energy | 265 | 673 | 16 | 840 | 519 | 2,780 | 5,093 | |||||||||||||||||||||
Northern Powergrid | — | — | — | 62 | 62 | 2,143 | 2,267 | |||||||||||||||||||||
BHE Pipeline Group | 185 | 191 | 62 | 329 | — | 600 | 1,367 | |||||||||||||||||||||
BHE Transmission | 78 | 129 | — | 172 | 172 | 3,184 | 3,735 | |||||||||||||||||||||
BHE Renewables | 121 | 168 | 172 | 179 | 463 | 1,861 | 2,964 | |||||||||||||||||||||
Totals | $ | 1,232 | $ | 1,266 | $ | 962 | $ | 3,521 | $ | 2,069 | $ | 29,543 | $ | 38,593 | ||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Components of Income Tax Expense (Benefit) [Table Text Block] | Income tax expense (benefit) consists of the following for the years ended December 31 (in millions): | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Current: | ||||||||||||
Federal | $ | (1,872 | ) | $ | (985 | ) | $ | (1,314 | ) | |||
State | (3 | ) | (2 | ) | (67 | ) | ||||||
Foreign | 129 | 121 | 121 | |||||||||
(1,746 | ) | (866 | ) | (1,260 | ) | |||||||
Deferred: | ||||||||||||
Federal | 2,296 | 1,306 | 1,475 | |||||||||
State | 37 | (247 | ) | (11 | ) | |||||||
Foreign | 11 | (59 | ) | (51 | ) | |||||||
2,344 | 1,000 | 1,413 | ||||||||||
Investment tax credits - the Utilities | (9 | ) | (4 | ) | (5 | ) | ||||||
Total | $ | 589 | $ | 130 | $ | 148 | ||||||
Effective Income Tax Rate Reconciliation [Table Text Block] | A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income before income tax expense is as follows for the years ended December 31: | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Federal statutory income tax rate | 35 | % | 35 | % | 35 | % | ||||||
Income tax credits | (10 | ) | (14 | ) | (14 | ) | ||||||
State income tax, net of federal income tax benefit | 1 | (9 | ) | (3 | ) | |||||||
Income tax effect of foreign income | (3 | ) | (6 | ) | (7 | ) | ||||||
Equity income (loss) | 2 | (1 | ) | 2 | ||||||||
Other, net | (2 | ) | 2 | (4 | ) | |||||||
Effective income tax rate | 23 | % | 7 | % | 9 | % | ||||||
Components of Net Deferred Income Tax Liability [Table Text Block] | The net deferred income tax liability consists of the following as of December 31 (in millions): | |||||||||||
2014 | 2013 | |||||||||||
Deferred income tax assets: | ||||||||||||
Federal and state carryforwards | $ | 781 | $ | 1,001 | ||||||||
Regulatory liabilities | 812 | 825 | ||||||||||
AROs | 249 | 234 | ||||||||||
Employee benefits | 187 | 75 | ||||||||||
Derivative contracts | 62 | 28 | ||||||||||
Other | 781 | 740 | ||||||||||
Total deferred income tax assets | 2,872 | 2,903 | ||||||||||
Valuation allowances | (23 | ) | (29 | ) | ||||||||
Total deferred income tax assets, net | 2,849 | 2,874 | ||||||||||
Deferred income tax liabilities: | ||||||||||||
Property-related items | (11,989 | ) | (10,727 | ) | ||||||||
Regulatory assets | (1,374 | ) | (1,047 | ) | ||||||||
Investments | (699 | ) | (767 | ) | ||||||||
Other | (301 | ) | (287 | ) | ||||||||
Total deferred income tax liabilities | (14,363 | ) | (12,828 | ) | ||||||||
Net deferred income tax liability | $ | (11,514 | ) | $ | (9,954 | ) | ||||||
Reflected as: | ||||||||||||
Current assets - other | $ | 291 | $ | 211 | ||||||||
Current liabilities - other | (3 | ) | (7 | ) | ||||||||
Deferred income taxes | (11,802 | ) | (10,158 | ) | ||||||||
$ | (11,514 | ) | $ | (9,954 | ) | |||||||
Summary of Operating Loss Carryforwards [Table Text Block] | The following table provides the Company's net operating loss and tax credit carryforwards and expiration dates as of December 31, 2014 (in millions): | |||||||||||
Federal | State | |||||||||||
Net operating loss carryforwards(1) | $ | 409 | $ | 8,629 | ||||||||
Deferred income taxes on net operating loss carryforwards | $ | 155 | $ | 474 | ||||||||
Expiration dates | 2023-2034 | 2015-2034 | ||||||||||
Foreign and other tax credits(2) | $ | 122 | $ | 30 | ||||||||
Expiration dates | 2023- indefinite | 2016- indefinite | ||||||||||
-1 | The federal net operating loss carry forwards relate principally to net operating loss carryforwards of NV Energy generated prior to BHE's ownership. | |||||||||||
-2 | Includes $74 million of deferred foreign tax credits associated with the federal income tax on unremitted tax earnings and profit pools that will begin to be creditable and expire 10 years after the date the foreign earnings are repatriated through actual or deemed dividends. As of December 31, 2014 the statute of limitation had not begun on the foreign tax credit carryforwards. | |||||||||||
Net Unrecognized Tax Benefits Roll Forward [Table Text Block] | A reconciliation of the beginning and ending balances of the Company's net unrecognized tax benefits is as follows for the years ended December 31 (in millions): | |||||||||||
2014 | 2013 | |||||||||||
Beginning balance | $ | 211 | $ | 223 | ||||||||
Additions based on tax positions related to the current year | 11 | 18 | ||||||||||
Additions for tax positions of prior years | 48 | 80 | ||||||||||
Reductions for tax positions of prior years | (50 | ) | (106 | ) | ||||||||
Statute of limitations | (1 | ) | 4 | |||||||||
Settlements | — | (10 | ) | |||||||||
Interest and penalties | 1 | 2 | ||||||||||
Ending balance | $ | 220 | $ | 211 | ||||||||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ||||||||||||||||||||||||
Net Benefit Costs [Table Text Block] | Net periodic benefit cost for the plans included the following components for the years ended December 31 (in millions): | |||||||||||||||||||||||
Pension | Other Postretirement | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Service cost | $ | 36 | $ | 24 | $ | 25 | $ | 14 | $ | 14 | $ | 11 | ||||||||||||
Interest cost | 131 | 87 | 98 | 46 | 33 | 36 | ||||||||||||||||||
Expected return on plan assets | (164 | ) | (119 | ) | (119 | ) | (53 | ) | (44 | ) | (43 | ) | ||||||||||||
Net amortization | 44 | 58 | 37 | (3 | ) | 6 | 1 | |||||||||||||||||
Net periodic benefit cost | $ | 47 | $ | 50 | $ | 41 | $ | 4 | $ | 9 | $ | 5 | ||||||||||||
Net periodic benefit cost for the UK Plan included the following components for the years ended December 31 (in millions): | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Service cost | $ | 24 | $ | 22 | $ | 19 | ||||||||||||||||||
Interest cost | 95 | 85 | 85 | |||||||||||||||||||||
Expected return on plan assets | (124 | ) | (101 | ) | (104 | ) | ||||||||||||||||||
Net amortization | 51 | 53 | 43 | |||||||||||||||||||||
Net periodic benefit cost | $ | 46 | $ | 59 | $ | 43 | ||||||||||||||||||
Changes in Fair Value of Plan Assets [Table Text Block] | The following table is a reconciliation of the fair value of plan assets for the years ended December 31 (in millions): | |||||||||||||||||||||||
Pension | Other Postretirement | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Plan assets at fair value, beginning of year | $ | 2,711 | $ | 1,655 | $ | 852 | $ | 650 | ||||||||||||||||
NV Energy Transaction | — | 818 | — | 110 | ||||||||||||||||||||
Employer contributions | 37 | 71 | 2 | 8 | ||||||||||||||||||||
Participant contributions | — | — | 11 | 8 | ||||||||||||||||||||
Actual return on plan assets | 188 | 359 | 54 | 127 | ||||||||||||||||||||
Benefits paid | (218 | ) | (192 | ) | (61 | ) | (51 | ) | ||||||||||||||||
Plan assets at fair value, end of year | $ | 2,718 | $ | 2,711 | $ | 858 | $ | 852 | ||||||||||||||||
The following table is a reconciliation of the fair value of plan assets for the years ended December 31 (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Plan assets at fair value, beginning of year | $ | 2,177 | $ | 1,996 | ||||||||||||||||||||
Employer contributions | 89 | 79 | ||||||||||||||||||||||
Participant contributions | 2 | 3 | ||||||||||||||||||||||
Actual return on plan assets | 337 | 138 | ||||||||||||||||||||||
Benefits paid | (92 | ) | (83 | ) | ||||||||||||||||||||
Foreign currency exchange rate changes | (145 | ) | 44 | |||||||||||||||||||||
Plan assets at fair value, end of year | $ | 2,368 | $ | 2,177 | ||||||||||||||||||||
Changes in Projected Benefit Obligations [Table Text Block] | The following table is a reconciliation of the benefit obligations for the years ended December 31 (in millions): | |||||||||||||||||||||||
Pension | Other Postretirement | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Benefit obligation, beginning of year | $ | 2,821 | $ | 2,237 | $ | 987 | $ | 845 | ||||||||||||||||
NV Energy Transaction | — | 823 | — | 154 | ||||||||||||||||||||
Service cost | 36 | 24 | 14 | 14 | ||||||||||||||||||||
Interest cost | 131 | 87 | 46 | 33 | ||||||||||||||||||||
Participant contributions | — | — | 11 | 8 | ||||||||||||||||||||
Actuarial loss (gain) | 349 | (158 | ) | (61 | ) | (16 | ) | |||||||||||||||||
Benefits paid | (218 | ) | (192 | ) | (61 | ) | (51 | ) | ||||||||||||||||
Benefit obligation, end of year | $ | 3,119 | $ | 2,821 | $ | 936 | $ | 987 | ||||||||||||||||
Accumulated benefit obligation, end of year | $ | 3,086 | $ | 2,747 | ||||||||||||||||||||
The following table is a reconciliation of the benefit obligation for the years ended December 31 (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Benefit obligation, beginning of year | $ | 2,185 | $ | 2,047 | ||||||||||||||||||||
Service cost | 24 | 22 | ||||||||||||||||||||||
Interest cost | 95 | 85 | ||||||||||||||||||||||
Participant contributions | 2 | 3 | ||||||||||||||||||||||
Actuarial loss | 205 | 70 | ||||||||||||||||||||||
Benefits paid | (92 | ) | (83 | ) | ||||||||||||||||||||
Foreign currency exchange rate changes | (140 | ) | 41 | |||||||||||||||||||||
Benefit obligation, end of year | $ | 2,279 | $ | 2,185 | ||||||||||||||||||||
Accumulated benefit obligation, end of year | $ | 2,019 | $ | 1,917 | ||||||||||||||||||||
Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | The fair value of plan assets, projected benefit obligation and accumulated benefit obligation for (1) pension and other postretirement benefit plans with a projected benefit obligation in excess of the fair value of plan assets and (2) pension plans with an accumulated benefit obligation in excess of the fair value of plan assets as of December 31 are as follows (in millions): | |||||||||||||||||||||||
Pension | Other Postretirement | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Fair value of plan assets | $ | 1,987 | $ | 1,171 | $ | 598 | $ | 596 | ||||||||||||||||
Projected benefit obligation | $ | 2,401 | $ | 1,379 | $ | 686 | $ | 751 | ||||||||||||||||
Accumulated benefit obligation | $ | 2,380 | $ | 1,374 | ||||||||||||||||||||
The funded status of the plans and the amounts recognized on the Consolidated Balance Sheets as of December 31 are as follows (in millions): | ||||||||||||||||||||||||
Pension | Other Postretirement | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Plan assets at fair value, end of year | $ | 2,718 | $ | 2,711 | $ | 858 | $ | 852 | ||||||||||||||||
Benefit obligation, end of year | 3,119 | 2,821 | 936 | 987 | ||||||||||||||||||||
Funded status | $ | (401 | ) | $ | (110 | ) | $ | (78 | ) | $ | (135 | ) | ||||||||||||
Amounts recognized on the Consolidated Balance Sheets: | ||||||||||||||||||||||||
Other assets | $ | 12 | $ | 98 | $ | 10 | $ | 21 | ||||||||||||||||
Other current liabilities | (14 | ) | (19 | ) | — | — | ||||||||||||||||||
Other long-term liabilities | (399 | ) | (189 | ) | (88 | ) | (156 | ) | ||||||||||||||||
Amounts recognized | $ | (401 | ) | $ | (110 | ) | $ | (78 | ) | $ | (135 | ) | ||||||||||||
The funded status of the UK Plan and the amounts recognized on the Consolidated Balance Sheets as of December 31 are as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Plan assets at fair value, end of year | $ | 2,368 | $ | 2,177 | ||||||||||||||||||||
Benefit obligation, end of year | 2,279 | 2,185 | ||||||||||||||||||||||
Funded status | $ | 89 | $ | (8 | ) | |||||||||||||||||||
Amounts recognized on the Consolidated Balance Sheets: | ||||||||||||||||||||||||
Other assets | $ | 89 | $ | — | ||||||||||||||||||||
Other long-term liabilities | — | (8 | ) | |||||||||||||||||||||
Amounts recognized | $ | 89 | $ | (8 | ) | |||||||||||||||||||
Net Periodic Benefit Costs Not Yet Recognized [Table Text Block] | The portion of the funded status of the UK Plan not yet recognized in net periodic benefit cost as of December 31 is as follows (in millions): | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Net loss | $ | 655 | $ | 750 | ||||||||||||||||||||
Prior service cost | — | 1 | ||||||||||||||||||||||
Total | $ | 655 | $ | 751 | ||||||||||||||||||||
A reconciliation of the amounts not yet recognized as components of net periodic benefit cost, which are included in accumulated other comprehensive loss on the Consolidated Balance Sheets, for the years ended December 31 is as follows (in millions): | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Balance, beginning of year | $ | 751 | $ | 759 | ||||||||||||||||||||
Net (gain) loss arising during the year | (8 | ) | 32 | |||||||||||||||||||||
Net amortization | (51 | ) | (53 | ) | ||||||||||||||||||||
Foreign currency exchange rate changes | (37 | ) | 13 | |||||||||||||||||||||
Total | (96 | ) | (8 | ) | ||||||||||||||||||||
Balance, end of year | $ | 655 | $ | 751 | ||||||||||||||||||||
The portion of the funded status of the plans not yet recognized in net periodic benefit cost as of December 31 is as follows (in millions): | ||||||||||||||||||||||||
Pension | Other Postretirement | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Net loss | $ | 757 | $ | 487 | $ | 108 | $ | 183 | ||||||||||||||||
Prior service credit | (31 | ) | (42 | ) | (87 | ) | (102 | ) | ||||||||||||||||
Regulatory deferrals | (3 | ) | (4 | ) | 2 | 2 | ||||||||||||||||||
Total | $ | 723 | $ | 441 | $ | 23 | $ | 83 | ||||||||||||||||
A reconciliation of the amounts not yet recognized as components of net periodic benefit cost for the years ended December 31, 2014 and 2013 is as follows (in millions): | ||||||||||||||||||||||||
Accumulated | ||||||||||||||||||||||||
Other | ||||||||||||||||||||||||
Regulatory | Regulatory | Comprehensive | ||||||||||||||||||||||
Asset | Liability | Loss | Total | |||||||||||||||||||||
Pension | ||||||||||||||||||||||||
Balance, December 31, 2012 | $ | 712 | $ | — | $ | 25 | $ | 737 | ||||||||||||||||
NV Energy acquisition | 161 | — | — | 161 | ||||||||||||||||||||
Net gain arising during the year | (334 | ) | (51 | ) | (14 | ) | (399 | ) | ||||||||||||||||
Net amortization | (49 | ) | (7 | ) | (2 | ) | (58 | ) | ||||||||||||||||
Total | (222 | ) | (58 | ) | (16 | ) | (296 | ) | ||||||||||||||||
Balance, December 31, 2013 | 490 | (58 | ) | 9 | 441 | |||||||||||||||||||
Net loss arising during the year | 258 | 52 | 16 | 326 | ||||||||||||||||||||
Net amortization | (38 | ) | — | (6 | ) | (44 | ) | |||||||||||||||||
Total | 220 | 52 | 10 | 282 | ||||||||||||||||||||
Balance, December 31, 2014 | $ | 710 | $ | (6 | ) | $ | 19 | $ | 723 | |||||||||||||||
Regulatory | Regulatory | |||||||||||||||||||||||
Asset | Liability | Total | ||||||||||||||||||||||
Other Postretirement | ||||||||||||||||||||||||
Balance, December 31, 2012 | $ | 188 | $ | (13 | ) | $ | 175 | |||||||||||||||||
NV Energy Acquisition | 12 | — | 12 | |||||||||||||||||||||
Net gain arising during the year | (94 | ) | (4 | ) | (98 | ) | ||||||||||||||||||
Net amortization | (7 | ) | 1 | (6 | ) | |||||||||||||||||||
Total | (89 | ) | (3 | ) | (92 | ) | ||||||||||||||||||
Balance, December 31, 2013 | 99 | (16 | ) | 83 | ||||||||||||||||||||
Net (gain) loss arising during the year | (64 | ) | 1 | (63 | ) | |||||||||||||||||||
Net amortization | 2 | 1 | 3 | |||||||||||||||||||||
Total | (62 | ) | 2 | (60 | ) | |||||||||||||||||||
Balance, December 31, 2014 | $ | 37 | $ | (14 | ) | $ | 23 | |||||||||||||||||
Defined Benefit Plans, Amounts To Be Recognized In Following Year [Table Text Block] | The net loss, prior service credit and regulatory deferrals that will be amortized in 2015 into net periodic benefit cost are estimated to be as follows (in millions): | |||||||||||||||||||||||
Net | Prior Service | Regulatory | ||||||||||||||||||||||
Loss | Credit | Deferrals | Total | |||||||||||||||||||||
Pension | $ | 65 | $ | (10 | ) | $ | (1 | ) | $ | 54 | ||||||||||||||
Other postretirement | 4 | (16 | ) | 1 | (11 | ) | ||||||||||||||||||
Total | $ | 69 | $ | (26 | ) | $ | — | $ | 43 | |||||||||||||||
Plan Assumptions [Table Text Block] | Assumptions used to determine benefit obligations and net periodic benefit cost were as follows: | |||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Benefit obligations as of December 31: | ||||||||||||||||||||||||
Discount rate | 3.6 | % | 4.4 | % | 4.4 | % | ||||||||||||||||||
Rate of compensation increase | 2.8 | % | 3.15 | % | 2.8 | % | ||||||||||||||||||
Rate of future price inflation | 2.8 | % | 3.15 | % | 2.8 | % | ||||||||||||||||||
Net periodic benefit cost for the years ended December 31: | ||||||||||||||||||||||||
Discount rate | 4.4 | % | 4.4 | % | 4.8 | % | ||||||||||||||||||
Expected return on plan assets | 6.1 | % | 5.7 | % | 6.1 | % | ||||||||||||||||||
Rate of compensation increase | 3.15 | % | 2.8 | % | 2.8 | % | ||||||||||||||||||
Rate of future price inflation | 3.15 | % | 2.8 | % | 2.8 | % | ||||||||||||||||||
Weighted-average assumptions used to determine benefit obligations and net periodic benefit cost were as follows: | ||||||||||||||||||||||||
Pension | Other Postretirement | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Benefit obligations as of December 31: | ||||||||||||||||||||||||
Discount rate | 4 | % | 4.81 | % | 4.03 | % | 3.88 | % | 4.82 | % | 4.01 | % | ||||||||||||
Rate of compensation increase | 2.75 | % | 3 | % | 3 | % | N/A | N/A | N/A | |||||||||||||||
Net periodic benefit cost for the years ended December 31: | ||||||||||||||||||||||||
Discount rate | 4.81 | % | 4.03 | % | 4.84 | % | 4.82 | % | 4.01 | % | 4.9 | % | ||||||||||||
Expected return on plan assets | 6.86 | % | 7.5 | % | 7.5 | % | 7.34 | % | 7.44 | % | 7.5 | % | ||||||||||||
Rate of compensation increase | 3 | % | 3 | % | 3.5 | % | N/A | N/A | N/A | |||||||||||||||
In establishing its assumption as to the expected return on plan assets, the Company utilizes the expected asset allocation and return assumptions for each asset class based on historical performance and forward-looking views of the financial markets. | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Assumed healthcare cost trend rates as of December 31: | ||||||||||||||||||||||||
Healthcare cost trend rate assumed for next year | 8 | % | 7.88 | % | ||||||||||||||||||||
Rate that the cost trend rate gradually declines to | 5 | % | 4.96 | % | ||||||||||||||||||||
Year that the rate reaches the rate it is assumed to remain at | 2025 | 2019, 2029 | ||||||||||||||||||||||
Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block] | A one percentage-point change in assumed healthcare cost trend rates would have the following effects (in millions): | |||||||||||||||||||||||
One Percentage-Point | ||||||||||||||||||||||||
Increase | Decrease | |||||||||||||||||||||||
Increase (decrease) in: | ||||||||||||||||||||||||
Total service and interest cost for the year ended December 31, 2014 | $ | 4 | $ | (3 | ) | |||||||||||||||||||
Other postretirement benefit obligation as of December 31, 2014 | 7 | (6 | ) | |||||||||||||||||||||
Expected Benefit Payments [Table Text Block] | Employer contributions to the UK Plan are expected to be £50 million during 2015. The expected benefit payments to participants in the UK Plan for 2015 through 2019 and for the five years thereafter, using the foreign currency exchange rate as of December 31, 2014, are summarized below (in millions): | |||||||||||||||||||||||
2015 | $ | 89 | ||||||||||||||||||||||
2016 | 91 | |||||||||||||||||||||||
2017 | 93 | |||||||||||||||||||||||
2018 | 95 | |||||||||||||||||||||||
2019 | 97 | |||||||||||||||||||||||
2020-2024 | 553 | |||||||||||||||||||||||
The expected benefit payments to participants in the Company's pension and other postretirement benefit plans for 2015 through 2019 and for the five years thereafter are summarized below (in millions): | ||||||||||||||||||||||||
Projected Benefit | ||||||||||||||||||||||||
Payments | ||||||||||||||||||||||||
Other | ||||||||||||||||||||||||
Pension | Postretirement | |||||||||||||||||||||||
2015 | $ | 216 | $ | 210 | ||||||||||||||||||||
2016 | 225 | 56 | ||||||||||||||||||||||
2017 | 223 | 56 | ||||||||||||||||||||||
2018 | 225 | 58 | ||||||||||||||||||||||
2019 | 225 | 58 | ||||||||||||||||||||||
2020-2024 | 1,073 | 283 | ||||||||||||||||||||||
Allocation of Plan Assets [Table Text Block] | The target allocations (percentage of plan assets) for the UK Plan assets are as follows as of December 31, 2014: | |||||||||||||||||||||||
% | ||||||||||||||||||||||||
Debt securities(1) | 50-55 | |||||||||||||||||||||||
Equity securities(1) | 35-40 | |||||||||||||||||||||||
Real estate funds | 15-May | |||||||||||||||||||||||
-1 | For purposes of target allocation percentages and consistent with the plans' investment policy, investment funds have been allocated based on the underlying investments in debt and equity securities. | |||||||||||||||||||||||
The target allocations (percentage of plan assets) for the Company's pension and other postretirement benefit plan assets are as follows as of December 31, 2014: | ||||||||||||||||||||||||
Other | ||||||||||||||||||||||||
Pension | Postretirement | |||||||||||||||||||||||
% | % | |||||||||||||||||||||||
PacifiCorp: | ||||||||||||||||||||||||
Debt securities(1) | 33-37 | 33-37 | ||||||||||||||||||||||
Equity securities(1) | 53-57 | 61-65 | ||||||||||||||||||||||
Limited partnership interests | 12-Aug | 3-Jan | ||||||||||||||||||||||
Other | 0-1 | 0-1 | ||||||||||||||||||||||
MidAmerican Energy: | ||||||||||||||||||||||||
Debt securities(1) | 20-40 | 25-45 | ||||||||||||||||||||||
Equity securities(1) | 60-80 | 50-80 | ||||||||||||||||||||||
Real estate funds | 8-Feb | — | ||||||||||||||||||||||
Other | 0-5 | 0-5 | ||||||||||||||||||||||
NV Energy: | ||||||||||||||||||||||||
Debt securities(1) | 53-77 | 40 | ||||||||||||||||||||||
Equity securities(1) | 23-47 | 60 | ||||||||||||||||||||||
-1 | For purposes of target allocation percentages and consistent with the plans' investment policy, investment funds are allocated based on the underlying investments in debt and equity securities. | |||||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | The following table presents the fair value of plan assets, by major category, for the Company's defined benefit pension plans (in millions): | |||||||||||||||||||||||
Input Levels for Fair Value Measurements(1) | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||
Cash equivalents | $ | 15 | $ | 54 | $ | — | $ | 69 | ||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United States government obligations | 166 | — | — | 166 | ||||||||||||||||||||
International government obligations | — | 11 | — | 11 | ||||||||||||||||||||
Corporate obligations | — | 268 | — | 268 | ||||||||||||||||||||
Municipal obligations | — | 27 | — | 27 | ||||||||||||||||||||
Agency, asset and mortgage-backed obligations | — | 94 | — | 94 | ||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
United States companies | 698 | — | — | 698 | ||||||||||||||||||||
International companies | 122 | — | — | 122 | ||||||||||||||||||||
Investment funds(2) | 301 | 852 | — | 1,153 | ||||||||||||||||||||
Limited partnership interests(3) | — | — | 70 | 70 | ||||||||||||||||||||
Real estate funds | — | — | 40 | 40 | ||||||||||||||||||||
Total | $ | 1,302 | $ | 1,306 | $ | 110 | $ | 2,718 | ||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||
Cash equivalents | $ | 2 | $ | 78 | $ | — | $ | 80 | ||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United States government obligations | 129 | — | — | 129 | ||||||||||||||||||||
International government obligations | — | 4 | — | 4 | ||||||||||||||||||||
Corporate obligations | — | 242 | — | 242 | ||||||||||||||||||||
Municipal obligations | — | 28 | — | 28 | ||||||||||||||||||||
Agency, asset and mortgage-backed obligations | — | 132 | — | 132 | ||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
United States companies | 709 | — | — | 709 | ||||||||||||||||||||
International companies | 133 | — | — | 133 | ||||||||||||||||||||
Investment funds(2) | 320 | 817 | — | 1,137 | ||||||||||||||||||||
Limited partnership interests(3) | — | — | 86 | 86 | ||||||||||||||||||||
Real estate funds | — | — | 31 | 31 | ||||||||||||||||||||
Total | $ | 1,293 | $ | 1,301 | $ | 117 | $ | 2,711 | ||||||||||||||||
-1 | Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy. | |||||||||||||||||||||||
-2 | Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 61% and 39%, respectively, for 2014 and 60% and 40%, respectively, for 2013. Additionally, these funds are invested in United States and international securities of approximately 64% and 36%, respectively, for 2014 and 65% and 35%, respectively, for 2013. | |||||||||||||||||||||||
-3 | Limited partnership interests include several funds that invest primarily in buyout, growth equity and venture capital. | |||||||||||||||||||||||
The following table presents the fair value of plan assets, by major category, for the Company's defined benefit other postretirement plans (in millions): | ||||||||||||||||||||||||
Input Levels for Fair Value Measurements(1) | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||
Cash equivalents(2) | $ | 145 | $ | 1 | $ | — | $ | 146 | ||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United States government obligations | 17 | — | — | 17 | ||||||||||||||||||||
Corporate obligations | — | 34 | — | 34 | ||||||||||||||||||||
Municipal obligations | — | 43 | — | 43 | ||||||||||||||||||||
Agency, asset and mortgage-backed obligations | — | 31 | — | 31 | ||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
United States companies | 243 | — | — | 243 | ||||||||||||||||||||
International companies | 6 | — | — | 6 | ||||||||||||||||||||
Investment funds(3) | 202 | 131 | — | 333 | ||||||||||||||||||||
Limited partnership interests(4) | — | — | 5 | 5 | ||||||||||||||||||||
Total | $ | 613 | $ | 240 | $ | 5 | $ | 858 | ||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||
Cash equivalents | $ | 5 | $ | 4 | $ | — | $ | 9 | ||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United States government obligations | 11 | — | — | 11 | ||||||||||||||||||||
Corporate obligations | — | 18 | — | 18 | ||||||||||||||||||||
Municipal obligations | — | 38 | — | 38 | ||||||||||||||||||||
Agency, asset and mortgage-backed obligations | — | 19 | — | 19 | ||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
United States companies | 294 | — | — | 294 | ||||||||||||||||||||
International companies | 8 | — | — | 8 | ||||||||||||||||||||
Investment funds(3) | 296 | 153 | — | 449 | ||||||||||||||||||||
Limited partnership interests(4) | — | — | 6 | 6 | ||||||||||||||||||||
Total | $ | 614 | $ | 232 | $ | 6 | $ | 852 | ||||||||||||||||
-1 | Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy. | |||||||||||||||||||||||
-2 | In December 2014, PacifiCorp began to migrate funds to cash and cash equivalents in anticipation of the $150 million to be transferred to the UMWA in June 2015 as a result of the other postretirement settlement. Remaining investments were rebalanced to align to PacifiCorp's target investment allocations. | |||||||||||||||||||||||
-3 | Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 63% and 37%, respectively, for 2014 and 57% and 43%, respectively, for 2013. Additionally, these funds are invested in United States and international securities of approximately 69% and 31%, respectively, for 2014 and 72% and 28%, respectively, for 2013. | |||||||||||||||||||||||
-4 | Limited partnership interests include several funds that invest primarily in buyout, growth equity and venture capital. | |||||||||||||||||||||||
The following table presents the fair value of the UK Plan assets, by major category, (in millions): | ||||||||||||||||||||||||
Input Levels for Fair Value Measurements(1) | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||
Cash equivalents | $ | 43 | $ | — | $ | — | $ | 43 | ||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United Kingdom government obligations | 452 | — | — | 452 | ||||||||||||||||||||
Other international government obligations | — | 14 | — | 14 | ||||||||||||||||||||
Corporate obligations | — | 196 | — | 196 | ||||||||||||||||||||
Investment funds(2) | 114 | 1,350 | — | 1,464 | ||||||||||||||||||||
Real estate funds | — | — | 199 | 199 | ||||||||||||||||||||
Total | $ | 609 | $ | 1,560 | $ | 199 | $ | 2,368 | ||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||
Cash equivalents | $ | 23 | $ | — | $ | — | $ | 23 | ||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United States government obligations | 5 | — | — | 5 | ||||||||||||||||||||
United Kingdom government obligations | 375 | — | — | 375 | ||||||||||||||||||||
Other international government obligations | — | 2 | — | 2 | ||||||||||||||||||||
Corporate obligations | — | 206 | — | 206 | ||||||||||||||||||||
Investment funds(2) | 122 | 1,265 | — | 1,387 | ||||||||||||||||||||
Real estate funds | — | — | 179 | 179 | ||||||||||||||||||||
Total | $ | 525 | $ | 1,473 | $ | 179 | $ | 2,177 | ||||||||||||||||
-1 | Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy. | |||||||||||||||||||||||
-2 | Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 44% and 56%, respectively, for 2014 and 45% and 55%, respectively, for 2013. | |||||||||||||||||||||||
The following table presents the Company's assets and liabilities recognized on the Consolidated 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 December 31, 2014 | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Commodity derivatives | $ | 1 | $ | 48 | $ | 94 | $ | (40 | ) | $ | 103 | |||||||||||||
Interest rate derivatives | — | 5 | — | — | 5 | |||||||||||||||||||
Mortgage loans held for sale | — | 279 | — | — | 279 | |||||||||||||||||||
Money market mutual funds(2) | 320 | — | — | — | 320 | |||||||||||||||||||
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 | — | — | 45 | — | 45 | |||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
United States companies | 238 | — | — | — | 238 | |||||||||||||||||||
International companies | 886 | — | — | — | 886 | |||||||||||||||||||
Investment funds | 137 | — | — | — | 137 | |||||||||||||||||||
$ | 1,718 | $ | 376 | $ | 139 | $ | (40 | ) | $ | 2,193 | ||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Commodity derivatives | $ | (18 | ) | $ | (274 | ) | $ | (43 | ) | $ | 115 | $ | (220 | ) | ||||||||||
Interest rate derivatives | — | (10 | ) | — | — | (10 | ) | |||||||||||||||||
$ | (18 | ) | $ | (284 | ) | $ | (43 | ) | $ | 115 | $ | (230 | ) | |||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Commodity derivatives | $ | 3 | $ | 28 | $ | 69 | $ | (27 | ) | $ | 73 | |||||||||||||
Interest rate derivatives | — | 14 | — | — | 14 | |||||||||||||||||||
Mortgage loans held for sale | — | 130 | — | — | 130 | |||||||||||||||||||
Money market mutual funds(2) | 809 | — | — | — | 809 | |||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United States government obligations | 134 | — | — | — | 134 | |||||||||||||||||||
International government obligations | — | 1 | — | — | 1 | |||||||||||||||||||
Corporate obligations | — | 38 | — | — | 38 | |||||||||||||||||||
Municipal obligations | — | 2 | — | — | 2 | |||||||||||||||||||
Agency, asset and mortgage-backed obligations | — | 2 | — | — | 2 | |||||||||||||||||||
Auction rate securities | — | — | 44 | — | 44 | |||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
United States companies | 214 | — | — | — | 214 | |||||||||||||||||||
International companies | 1,107 | — | — | — | 1,107 | |||||||||||||||||||
Investment funds | 114 | — | — | — | 114 | |||||||||||||||||||
$ | 2,381 | $ | 215 | $ | 113 | $ | (27 | ) | $ | 2,682 | ||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Commodity derivatives | $ | (1 | ) | $ | (230 | ) | $ | (9 | ) | $ | 39 | $ | (201 | ) | ||||||||||
Interest rate derivatives | — | (7 | ) | — | — | $ | (7 | ) | ||||||||||||||||
$ | (1 | ) | $ | (237 | ) | $ | (9 | ) | $ | 39 | $ | (208 | ) | |||||||||||
-1 | Represents netting under master netting arrangements and a net cash collateral receivable of $75 million and $12 million as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||
-2 | Amounts are included in cash and cash equivalents; other current assets; and noncurrent investments and restricted cash and investments on the Consolidated Balance Sheets. The fair value of these money market mutual funds approximates cost. | |||||||||||||||||||||||
Level Three Defined Benefit Plan Assets Roll Forward [Table Text Block] | The following table reconciles the beginning and ending balances of the Company's plan assets measured at fair value using significant Level 3 inputs for the years ended December 31 (in millions): | |||||||||||||||||||||||
Other | ||||||||||||||||||||||||
Pension | Postretirement- | |||||||||||||||||||||||
Limited | Real | Limited | ||||||||||||||||||||||
Partnership | Estate | Partnership | ||||||||||||||||||||||
Interests | Funds | Interests | ||||||||||||||||||||||
Balance, December 31, 2011 | $ | 71 | $ | 24 | $ | 6 | ||||||||||||||||||
Actual return on plan assets still held at period end | 7 | 2 | 1 | |||||||||||||||||||||
Purchases, sales, distributions and settlements | 18 | — | — | |||||||||||||||||||||
Balance, December 31, 2012 | 96 | 26 | 7 | |||||||||||||||||||||
Actual return on plan assets still held at period end | 16 | 5 | 1 | |||||||||||||||||||||
Purchases, sales, distributions and settlements | (26 | ) | — | (2 | ) | |||||||||||||||||||
Balance, December 31, 2013 | 86 | 31 | 6 | |||||||||||||||||||||
Actual return on plan assets still held at period end | (1 | ) | 4 | — | ||||||||||||||||||||
Purchases, sales, distributions and settlements | (15 | ) | 5 | (1 | ) | |||||||||||||||||||
Balance, December 31, 2014 | $ | 70 | $ | 40 | $ | 5 | ||||||||||||||||||
The following table reconciles the beginning and ending balances of the UK Plan assets measured at fair value using significant Level 3 inputs for the years ended December 31 (in millions): | ||||||||||||||||||||||||
Real Estate Funds | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Beginning balance | $ | 179 | $ | 163 | $ | 158 | ||||||||||||||||||
Actual return on plan assets still held at period end | 33 | 12 | (3 | ) | ||||||||||||||||||||
Foreign currency exchange rate changes | (13 | ) | 4 | 8 | ||||||||||||||||||||
Ending balance | $ | 199 | $ | 179 | $ | 163 | ||||||||||||||||||
Asset_Retirement_Oblilgations_
Asset Retirement Oblilgations (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Asset Retirement Obligation Disclosure [Abstract] | ||||||||
Asset Retirement Obligations By Type [Table Text Block] | The following table presents the Company's ARO liabilities by asset type as of December 31 (in millions): | |||||||
2014 | 2013 | |||||||
Fossil fuel facilities | $ | 334 | $ | 315 | ||||
Quad Cities Station | 265 | 254 | ||||||
Wind generating facilities | 75 | 59 | ||||||
Offshore pipeline facilities | 31 | 35 | ||||||
Solar generating facilities | 9 | 5 | ||||||
Other | 39 | 28 | ||||||
Total asset retirement obligations | $ | 753 | $ | 696 | ||||
Quad Cities Station nuclear decommissioning trust funds | $ | 424 | $ | 394 | ||||
Asset Retirement Obligation Disclosure [Table Text Block] | The following table reconciles the beginning and ending balances of the Company's ARO liabilities for the years ended December 31 (in millions): | |||||||
2014 | 2013 | |||||||
Beginning balance | $ | 696 | $ | 490 | ||||
Acquisitions | 12 | 80 | ||||||
Change in estimated costs | 3 | 88 | ||||||
Additions | 15 | 18 | ||||||
Retirements | (8 | ) | (6 | ) | ||||
Accretion | 35 | 26 | ||||||
Ending balance | $ | 753 | $ | 696 | ||||
Reflected as: | ||||||||
Other current liabilities | $ | 66 | $ | 18 | ||||
Other long-term liabilities | 687 | 678 | ||||||
Total ARO liability | $ | 753 | $ | 696 | ||||
Risk_Management_and_Hedging_Ac1
Risk Management and Hedging Activities (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The following table, which reflects master netting arrangements and excludes contracts that have been designated as normal under the normal purchases or normal sales exception afforded by GAAP, summarizes the fair value of the Company's derivative contracts, on a gross basis, and reconciles those amounts to the amounts presented on a net basis on the Consolidated Balance Sheets (in millions): | |||||||||||||||||||
Other | Other | Other | ||||||||||||||||||
Current | Other | Current | Long-term | |||||||||||||||||
Assets | Assets | Liabilities | Liabilities | Total | ||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||
Not designated as hedging contracts: | ||||||||||||||||||||
Commodity assets(1) | $ | 47 | $ | 66 | $ | 21 | $ | 1 | $ | 135 | ||||||||||
Commodity liabilities(1) | (11 | ) | — | (146 | ) | (134 | ) | (291 | ) | |||||||||||
Interest rate assets | 4 | — | — | — | 4 | |||||||||||||||
Interest rate liabilities | — | — | (2 | ) | (4 | ) | (6 | ) | ||||||||||||
Total | 40 | 66 | (127 | ) | (137 | ) | (158 | ) | ||||||||||||
Designated as hedging contracts: | ||||||||||||||||||||
Commodity assets | 1 | — | 5 | 2 | 8 | |||||||||||||||
Commodity liabilities | — | — | (27 | ) | (17 | ) | (44 | ) | ||||||||||||
Interest rate assets | — | 1 | — | — | 1 | |||||||||||||||
Interest rate liabilities | — | — | (4 | ) | — | (4 | ) | |||||||||||||
Total | 1 | 1 | (26 | ) | (15 | ) | (39 | ) | ||||||||||||
Total derivatives | 41 | 67 | (153 | ) | (152 | ) | (197 | ) | ||||||||||||
Cash collateral (payable) receivable | — | — | 56 | 19 | 75 | |||||||||||||||
Total derivatives - net basis | $ | 41 | $ | 67 | $ | (97 | ) | $ | (133 | ) | $ | (122 | ) | |||||||
As of December 31, 2013 | ||||||||||||||||||||
Not designated as hedging contracts: | ||||||||||||||||||||
Commodity assets(1) | $ | 16 | $ | 62 | $ | 18 | $ | 2 | $ | 98 | ||||||||||
Commodity liabilities(1) | (2 | ) | (1 | ) | (78 | ) | (145 | ) | (226 | ) | ||||||||||
Interest rate assets | 3 | 5 | — | — | 8 | |||||||||||||||
Interest rate liabilities | — | — | (1 | ) | — | (1 | ) | |||||||||||||
Total | 17 | 66 | (61 | ) | (143 | ) | (121 | ) | ||||||||||||
Designated as hedging contracts: | ||||||||||||||||||||
Commodity assets | 1 | — | 1 | — | 2 | |||||||||||||||
Commodity liabilities | (1 | ) | — | (5 | ) | (8 | ) | (14 | ) | |||||||||||
Interest rate assets | — | 6 | — | — | 6 | |||||||||||||||
Interest rate liabilities | — | — | (6 | ) | — | (6 | ) | |||||||||||||
Total | — | 6 | (10 | ) | (8 | ) | (12 | ) | ||||||||||||
Total derivatives | 17 | 72 | (71 | ) | (151 | ) | (133 | ) | ||||||||||||
Cash collateral receivable | (2 | ) | — | 1 | 13 | 12 | ||||||||||||||
Total derivatives - net basis | $ | 15 | $ | 72 | $ | (70 | ) | $ | (138 | ) | $ | (121 | ) | |||||||
-1 | The Company's commodity derivatives not designated as hedging contracts are generally included in regulated rates, and as of December 31, 2014 and 2013, a net regulatory asset of $223 million and $182 million, respectively, was recorded related to the net derivative liability of $156 million and $128 million, respectively. | |||||||||||||||||||
Schedule of Regulatory Assets (Liabilities), Net, Unrealized Loss (Gain), Net, on Derivative Contracts [Table Text Block] | The following table reconciles the beginning and ending balances of the Company's net regulatory assets and summarizes the pre-tax gains and losses on commodity derivative contracts recognized in net regulatory assets, as well as amounts reclassified to earnings for the years ended December 31 (in millions): | |||||||||||||||||||
Commodity Derivatives | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
Beginning balance | $ | 182 | $ | 235 | $ | 400 | ||||||||||||||
NV Energy Transaction | — | 47 | — | |||||||||||||||||
Changes in fair value recognized in net regulatory assets | 96 | 29 | 69 | |||||||||||||||||
Net (losses) gains reclassified to operating revenue | (32 | ) | 8 | 63 | ||||||||||||||||
Net losses reclassified to cost of sales | (23 | ) | (137 | ) | (297 | ) | ||||||||||||||
Ending balance | $ | 223 | $ | 182 | $ | 235 | ||||||||||||||
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following table reconciles the beginning and ending balances of the Company's AOCI (pre-tax) and summarizes pre-tax gains and losses on commodity derivative contracts designated and qualifying as cash flow hedges recognized in OCI, as well as amounts reclassified to earnings for the years ended December 31 (in millions): | |||||||||||||||||||
Commodity Derivatives | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
Beginning balance | $ | 12 | $ | 32 | $ | 46 | ||||||||||||||
Changes in fair value recognized in OCI | (6 | ) | (9 | ) | 20 | |||||||||||||||
Net gains reclassified to operating revenue | — | — | 4 | |||||||||||||||||
Net gains (losses) reclassified to cost of sales | 26 | (11 | ) | (38 | ) | |||||||||||||||
Ending balance | $ | 32 | $ | 12 | $ | 32 | ||||||||||||||
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | The following table summarizes the net notional amounts of outstanding derivative contracts with fixed price terms that comprise the mark-to-market values as of December 31 (in millions): | |||||||||||||||||||
Unit of | ||||||||||||||||||||
Measure | 2014 | 2013 | ||||||||||||||||||
Electricity purchases (sales) | Megawatt hours | 6 | (5 | ) | ||||||||||||||||
Natural gas purchases | Decatherms | 308 | 322 | |||||||||||||||||
Fuel purchases | Gallons | 2 | 9 | |||||||||||||||||
Interest rate swaps | US$ | 443 | 650 | |||||||||||||||||
Mortgage sale commitments, net | US$ | (264 | ) | (121 | ) |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | The following table presents the fair value of plan assets, by major category, for the Company's defined benefit pension plans (in millions): | |||||||||||||||||||||||
Input Levels for Fair Value Measurements(1) | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||
Cash equivalents | $ | 15 | $ | 54 | $ | — | $ | 69 | ||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United States government obligations | 166 | — | — | 166 | ||||||||||||||||||||
International government obligations | — | 11 | — | 11 | ||||||||||||||||||||
Corporate obligations | — | 268 | — | 268 | ||||||||||||||||||||
Municipal obligations | — | 27 | — | 27 | ||||||||||||||||||||
Agency, asset and mortgage-backed obligations | — | 94 | — | 94 | ||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
United States companies | 698 | — | — | 698 | ||||||||||||||||||||
International companies | 122 | — | — | 122 | ||||||||||||||||||||
Investment funds(2) | 301 | 852 | — | 1,153 | ||||||||||||||||||||
Limited partnership interests(3) | — | — | 70 | 70 | ||||||||||||||||||||
Real estate funds | — | — | 40 | 40 | ||||||||||||||||||||
Total | $ | 1,302 | $ | 1,306 | $ | 110 | $ | 2,718 | ||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||
Cash equivalents | $ | 2 | $ | 78 | $ | — | $ | 80 | ||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United States government obligations | 129 | — | — | 129 | ||||||||||||||||||||
International government obligations | — | 4 | — | 4 | ||||||||||||||||||||
Corporate obligations | — | 242 | — | 242 | ||||||||||||||||||||
Municipal obligations | — | 28 | — | 28 | ||||||||||||||||||||
Agency, asset and mortgage-backed obligations | — | 132 | — | 132 | ||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
United States companies | 709 | — | — | 709 | ||||||||||||||||||||
International companies | 133 | — | — | 133 | ||||||||||||||||||||
Investment funds(2) | 320 | 817 | — | 1,137 | ||||||||||||||||||||
Limited partnership interests(3) | — | — | 86 | 86 | ||||||||||||||||||||
Real estate funds | — | — | 31 | 31 | ||||||||||||||||||||
Total | $ | 1,293 | $ | 1,301 | $ | 117 | $ | 2,711 | ||||||||||||||||
-1 | Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy. | |||||||||||||||||||||||
-2 | Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 61% and 39%, respectively, for 2014 and 60% and 40%, respectively, for 2013. Additionally, these funds are invested in United States and international securities of approximately 64% and 36%, respectively, for 2014 and 65% and 35%, respectively, for 2013. | |||||||||||||||||||||||
-3 | Limited partnership interests include several funds that invest primarily in buyout, growth equity and venture capital. | |||||||||||||||||||||||
The following table presents the fair value of plan assets, by major category, for the Company's defined benefit other postretirement plans (in millions): | ||||||||||||||||||||||||
Input Levels for Fair Value Measurements(1) | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||
Cash equivalents(2) | $ | 145 | $ | 1 | $ | — | $ | 146 | ||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United States government obligations | 17 | — | — | 17 | ||||||||||||||||||||
Corporate obligations | — | 34 | — | 34 | ||||||||||||||||||||
Municipal obligations | — | 43 | — | 43 | ||||||||||||||||||||
Agency, asset and mortgage-backed obligations | — | 31 | — | 31 | ||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
United States companies | 243 | — | — | 243 | ||||||||||||||||||||
International companies | 6 | — | — | 6 | ||||||||||||||||||||
Investment funds(3) | 202 | 131 | — | 333 | ||||||||||||||||||||
Limited partnership interests(4) | — | — | 5 | 5 | ||||||||||||||||||||
Total | $ | 613 | $ | 240 | $ | 5 | $ | 858 | ||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||
Cash equivalents | $ | 5 | $ | 4 | $ | — | $ | 9 | ||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United States government obligations | 11 | — | — | 11 | ||||||||||||||||||||
Corporate obligations | — | 18 | — | 18 | ||||||||||||||||||||
Municipal obligations | — | 38 | — | 38 | ||||||||||||||||||||
Agency, asset and mortgage-backed obligations | — | 19 | — | 19 | ||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
United States companies | 294 | — | — | 294 | ||||||||||||||||||||
International companies | 8 | — | — | 8 | ||||||||||||||||||||
Investment funds(3) | 296 | 153 | — | 449 | ||||||||||||||||||||
Limited partnership interests(4) | — | — | 6 | 6 | ||||||||||||||||||||
Total | $ | 614 | $ | 232 | $ | 6 | $ | 852 | ||||||||||||||||
-1 | Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy. | |||||||||||||||||||||||
-2 | In December 2014, PacifiCorp began to migrate funds to cash and cash equivalents in anticipation of the $150 million to be transferred to the UMWA in June 2015 as a result of the other postretirement settlement. Remaining investments were rebalanced to align to PacifiCorp's target investment allocations. | |||||||||||||||||||||||
-3 | Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 63% and 37%, respectively, for 2014 and 57% and 43%, respectively, for 2013. Additionally, these funds are invested in United States and international securities of approximately 69% and 31%, respectively, for 2014 and 72% and 28%, respectively, for 2013. | |||||||||||||||||||||||
-4 | Limited partnership interests include several funds that invest primarily in buyout, growth equity and venture capital. | |||||||||||||||||||||||
The following table presents the fair value of the UK Plan assets, by major category, (in millions): | ||||||||||||||||||||||||
Input Levels for Fair Value Measurements(1) | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||
Cash equivalents | $ | 43 | $ | — | $ | — | $ | 43 | ||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United Kingdom government obligations | 452 | — | — | 452 | ||||||||||||||||||||
Other international government obligations | — | 14 | — | 14 | ||||||||||||||||||||
Corporate obligations | — | 196 | — | 196 | ||||||||||||||||||||
Investment funds(2) | 114 | 1,350 | — | 1,464 | ||||||||||||||||||||
Real estate funds | — | — | 199 | 199 | ||||||||||||||||||||
Total | $ | 609 | $ | 1,560 | $ | 199 | $ | 2,368 | ||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||
Cash equivalents | $ | 23 | $ | — | $ | — | $ | 23 | ||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United States government obligations | 5 | — | — | 5 | ||||||||||||||||||||
United Kingdom government obligations | 375 | — | — | 375 | ||||||||||||||||||||
Other international government obligations | — | 2 | — | 2 | ||||||||||||||||||||
Corporate obligations | — | 206 | — | 206 | ||||||||||||||||||||
Investment funds(2) | 122 | 1,265 | — | 1,387 | ||||||||||||||||||||
Real estate funds | — | — | 179 | 179 | ||||||||||||||||||||
Total | $ | 525 | $ | 1,473 | $ | 179 | $ | 2,177 | ||||||||||||||||
-1 | Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy. | |||||||||||||||||||||||
-2 | Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 44% and 56%, respectively, for 2014 and 45% and 55%, respectively, for 2013. | |||||||||||||||||||||||
The following table presents the Company's assets and liabilities recognized on the Consolidated 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 December 31, 2014 | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Commodity derivatives | $ | 1 | $ | 48 | $ | 94 | $ | (40 | ) | $ | 103 | |||||||||||||
Interest rate derivatives | — | 5 | — | — | 5 | |||||||||||||||||||
Mortgage loans held for sale | — | 279 | — | — | 279 | |||||||||||||||||||
Money market mutual funds(2) | 320 | — | — | — | 320 | |||||||||||||||||||
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 | — | — | 45 | — | 45 | |||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
United States companies | 238 | — | — | — | 238 | |||||||||||||||||||
International companies | 886 | — | — | — | 886 | |||||||||||||||||||
Investment funds | 137 | — | — | — | 137 | |||||||||||||||||||
$ | 1,718 | $ | 376 | $ | 139 | $ | (40 | ) | $ | 2,193 | ||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Commodity derivatives | $ | (18 | ) | $ | (274 | ) | $ | (43 | ) | $ | 115 | $ | (220 | ) | ||||||||||
Interest rate derivatives | — | (10 | ) | — | — | (10 | ) | |||||||||||||||||
$ | (18 | ) | $ | (284 | ) | $ | (43 | ) | $ | 115 | $ | (230 | ) | |||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Commodity derivatives | $ | 3 | $ | 28 | $ | 69 | $ | (27 | ) | $ | 73 | |||||||||||||
Interest rate derivatives | — | 14 | — | — | 14 | |||||||||||||||||||
Mortgage loans held for sale | — | 130 | — | — | 130 | |||||||||||||||||||
Money market mutual funds(2) | 809 | — | — | — | 809 | |||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
United States government obligations | 134 | — | — | — | 134 | |||||||||||||||||||
International government obligations | — | 1 | — | — | 1 | |||||||||||||||||||
Corporate obligations | — | 38 | — | — | 38 | |||||||||||||||||||
Municipal obligations | — | 2 | — | — | 2 | |||||||||||||||||||
Agency, asset and mortgage-backed obligations | — | 2 | — | — | 2 | |||||||||||||||||||
Auction rate securities | — | — | 44 | — | 44 | |||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
United States companies | 214 | — | — | — | 214 | |||||||||||||||||||
International companies | 1,107 | — | — | — | 1,107 | |||||||||||||||||||
Investment funds | 114 | — | — | — | 114 | |||||||||||||||||||
$ | 2,381 | $ | 215 | $ | 113 | $ | (27 | ) | $ | 2,682 | ||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Commodity derivatives | $ | (1 | ) | $ | (230 | ) | $ | (9 | ) | $ | 39 | $ | (201 | ) | ||||||||||
Interest rate derivatives | — | (7 | ) | — | — | $ | (7 | ) | ||||||||||||||||
$ | (1 | ) | $ | (237 | ) | $ | (9 | ) | $ | 39 | $ | (208 | ) | |||||||||||
-1 | Represents netting under master netting arrangements and a net cash collateral receivable of $75 million and $12 million as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||
-2 | Amounts are included in cash and cash equivalents; other current assets; and noncurrent investments and restricted cash and investments on the Consolidated 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 the Company's assets and liabilities measured at fair value on a recurring basis using significant Level 3 inputs for the years ended December 31 (in millions): | |||||||||||||||||||||||
Commodity Derivatives | Auction Rate Securities | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Beginning balance | $ | 60 | $ | 32 | $ | 23 | $ | 44 | $ | 41 | $ | 35 | ||||||||||||
Changes included in earnings | 19 | 34 | 10 | — | — | — | ||||||||||||||||||
Changes in fair value recognized in OCI | — | (2 | ) | — | 1 | 3 | 7 | |||||||||||||||||
Changes in fair value recognized in net regulatory assets | 5 | 1 | (2 | ) | — | — | — | |||||||||||||||||
Purchases | 1 | 4 | 27 | — | — | — | ||||||||||||||||||
Sales | — | — | — | — | — | (1 | ) | |||||||||||||||||
Settlements | 1 | (9 | ) | (26 | ) | — | — | — | ||||||||||||||||
Transfers from Level 2 | (35 | ) | — | — | — | — | — | |||||||||||||||||
Ending balance | $ | 51 | $ | 60 | $ | 32 | $ | 45 | $ | 44 | $ | 41 | ||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | The following table presents the carrying value and estimated fair value of the Company's long-term debt as of December 31 (in millions): | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||||||||||
Value | Value | Value | Value | |||||||||||||||||||||
Long-term debt | $ | 38,649 | $ | 43,863 | $ | 32,012 | $ | 34,881 | ||||||||||||||||
Commitments_and_Contingencies_1
Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block] | The Company has the following firm commitments that are not reflected on the Consolidated Balance Sheet. Minimum payments as of December 31, 2014 are as follows (in millions): | ||||||||||||||||||||||||||||
2020 and | |||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||||||||||||||||
Contract type: | |||||||||||||||||||||||||||||
Fuel, capacity and transmission contract commitments | $ | 2,327 | $ | 1,765 | $ | 1,553 | $ | 1,216 | $ | 1,140 | $ | 8,777 | $ | 16,778 | |||||||||||||||
Construction commitments | 1,280 | 117 | 18 | 8 | 3 | 9 | 1,435 | ||||||||||||||||||||||
Operating leases and easements | 143 | 120 | 102 | 84 | 67 | 861 | 1,377 | ||||||||||||||||||||||
Maintenance, service and other contracts | 187 | 160 | 161 | 153 | 161 | 966 | 1,788 | ||||||||||||||||||||||
$ | 3,937 | $ | 2,162 | $ | 1,834 | $ | 1,461 | $ | 1,371 | $ | 10,613 | $ | 21,378 | ||||||||||||||||
Components_of_Accumulated_Othe1
Components of Accumulated Other Comprehensive Loss, Net (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||||||||||||||||||
Components of Accumulated Other Comprehensive Loss, Net [Table Text Block] | The following table shows the change in accumulated other comprehensive loss attributable to BHE shareholders by each component of other comprehensive income (loss), net of applicable income taxes, for the year ended December 31, (in millions): | ||||||||||||||||||||
Accumulated | |||||||||||||||||||||
Unrealized | Other | ||||||||||||||||||||
Unrecognized | Foreign | Gains on | Unrealized | Comprehensive | |||||||||||||||||
Amounts on | Currency | Available- | Gains on | Loss Attributable | |||||||||||||||||
Retirement | Translation | For-Sale | Cash Flow | To BHE | |||||||||||||||||
Benefits | Adjustment | Securities | Hedges | Shareholders, Net | |||||||||||||||||
Balance, December 31, 2011 | $ | (491 | ) | $ | (307 | ) | $ | 142 | $ | 15 | $ | (641 | ) | ||||||||
Other comprehensive (loss) income | (84 | ) | 135 | 119 | 8 | 178 | |||||||||||||||
Balance, December 31, 2012 | (575 | ) | (172 | ) | 261 | 23 | (463 | ) | |||||||||||||
Other comprehensive income | 16 | 74 | 263 | 13 | 366 | ||||||||||||||||
Balance, December 31, 2013 | (559 | ) | (98 | ) | 524 | 36 | (97 | ) | |||||||||||||
Other comprehensive income (loss) | 69 | (314 | ) | (134 | ) | (18 | ) | (397 | ) | ||||||||||||
Balance, December 31, 2014 | $ | (490 | ) | $ | (412 | ) | $ | 390 | $ | 18 | $ | (494 | ) | ||||||||
Other_Net_Tables
Other, Net (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Other Nonoperating Income (Expense) [Abstract] | ||||||||||||
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | Other, net, as shown on the Consolidated Statements of Operations, for the years ending December 31 consists of the following (in millions): | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Interest and dividend income | $ | 38 | $ | 15 | $ | 12 | ||||||
Corporate-owned life insurance income | 19 | 34 | 21 | |||||||||
Other, net | 23 | 17 | 23 | |||||||||
Total other, net | $ | 80 | $ | 66 | $ | 56 | ||||||
Supplemental_Cash_Flow_Disclos1
Supplemental Cash Flow Disclosures (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Supplemental Cash Flow Elements [Abstract] | ||||||||||||
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | The summary of supplemental cash flow disclosures as of and for the years ending December 31 is as follows (in millions): | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Supplemental disclosure of cash flow information: | ||||||||||||
Interest paid, net of amounts capitalized | $ | 1,585 | $ | 1,073 | $ | 1,046 | ||||||
Income taxes received, net(1) | $ | 635 | $ | 1,105 | $ | 1,341 | ||||||
Supplemental disclosure of non-cash investing and financing transactions: | ||||||||||||
Accruals related to property, plant and equipment additions | $ | 1,143 | $ | 661 | $ | 606 | ||||||
Deferred payments on equipment purchased for wind-powered generation | $ | — | $ | — | $ | 406 | ||||||
at MidAmerican Energy(2) | ||||||||||||
-1 | Includes $764 million, $1.2 billion and $1.5 billion of income taxes received from Berkshire Hathaway in 2014, 2013 and 2012, respectively. | |||||||||||
-2 | In conjunction with the construction of wind-powered generating facilities, MidAmerican Energy accrued as property, plant and equipment, net certain amounts for which it was not contractually obligated to pay until a stated future date. Refer to Note 10 for additional information. |
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Information related to the Company's reportable segments is shown below (in millions): | |||||||||||||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||
Operating revenue: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 5,252 | $ | 5,147 | $ | 4,882 | ||||||||||||||||||||||||||||||||||
MidAmerican Funding | 3,762 | 3,413 | 3,247 | |||||||||||||||||||||||||||||||||||||
NV Energy | 3,241 | (20 | ) | — | ||||||||||||||||||||||||||||||||||||
Northern Powergrid | 1,283 | 1,025 | 1,035 | |||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 1,078 | 952 | 968 | |||||||||||||||||||||||||||||||||||||
BHE Transmission | 62 | — | — | |||||||||||||||||||||||||||||||||||||
BHE Renewables | 623 | 355 | 166 | |||||||||||||||||||||||||||||||||||||
HomeServices | 2,144 | 1,809 | 1,312 | |||||||||||||||||||||||||||||||||||||
BHE and Other(1) | (119 | ) | (46 | ) | (62 | ) | ||||||||||||||||||||||||||||||||||
Total operating revenue | $ | 17,326 | $ | 12,635 | $ | 11,548 | ||||||||||||||||||||||||||||||||||
Depreciation and amortization: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 745 | $ | 692 | $ | 655 | ||||||||||||||||||||||||||||||||||
MidAmerican Funding | 351 | 403 | 393 | |||||||||||||||||||||||||||||||||||||
NV Energy | 379 | — | — | |||||||||||||||||||||||||||||||||||||
Northern Powergrid | 198 | 180 | 174 | |||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 196 | 190 | 193 | |||||||||||||||||||||||||||||||||||||
BHE Transmission | 13 | — | — | |||||||||||||||||||||||||||||||||||||
BHE Renewables | 152 | 71 | 33 | |||||||||||||||||||||||||||||||||||||
HomeServices | 29 | 33 | 19 | |||||||||||||||||||||||||||||||||||||
BHE and Other(1) | (6 | ) | (9 | ) | (12 | ) | ||||||||||||||||||||||||||||||||||
Total depreciation and amortization | $ | 2,057 | $ | 1,560 | $ | 1,455 | ||||||||||||||||||||||||||||||||||
Operating income: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 1,308 | $ | 1,275 | $ | 1,034 | ||||||||||||||||||||||||||||||||||
MidAmerican Funding | 423 | 357 | 369 | |||||||||||||||||||||||||||||||||||||
NV Energy | 791 | (42 | ) | — | ||||||||||||||||||||||||||||||||||||
Northern Powergrid | 674 | 501 | 565 | |||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 439 | 446 | 465 | |||||||||||||||||||||||||||||||||||||
BHE Transmission | 16 | (5 | ) | (2 | ) | |||||||||||||||||||||||||||||||||||
BHE Renewables | 314 | 223 | 93 | |||||||||||||||||||||||||||||||||||||
HomeServices | 125 | 129 | 62 | |||||||||||||||||||||||||||||||||||||
BHE and Other(1) | (44 | ) | (49 | ) | (19 | ) | ||||||||||||||||||||||||||||||||||
Total operating income | 4,046 | 2,835 | 2,567 | |||||||||||||||||||||||||||||||||||||
Interest expense | (1,711 | ) | (1,222 | ) | (1,176 | ) | ||||||||||||||||||||||||||||||||||
Capitalized interest | 89 | 84 | 54 | |||||||||||||||||||||||||||||||||||||
Allowance for equity funds | 98 | 78 | 74 | |||||||||||||||||||||||||||||||||||||
Other, net | 80 | 66 | 56 | |||||||||||||||||||||||||||||||||||||
Total income before income tax expense and equity income (loss) | $ | 2,602 | $ | 1,841 | $ | 1,575 | ||||||||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||
Interest expense: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 386 | $ | 390 | $ | 393 | ||||||||||||||||||||||||||||||||||
MidAmerican Funding | 197 | 174 | 167 | |||||||||||||||||||||||||||||||||||||
NV Energy | 283 | — | — | |||||||||||||||||||||||||||||||||||||
Northern Powergrid | 151 | 141 | 139 | |||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 76 | 80 | 92 | |||||||||||||||||||||||||||||||||||||
BHE Transmission | 14 | — | — | |||||||||||||||||||||||||||||||||||||
BHE Renewables | 175 | 138 | 70 | |||||||||||||||||||||||||||||||||||||
HomeServices | 4 | 3 | — | |||||||||||||||||||||||||||||||||||||
BHE and Other(1) | 425 | 296 | 315 | |||||||||||||||||||||||||||||||||||||
Total interest expense | $ | 1,711 | $ | 1,222 | $ | 1,176 | ||||||||||||||||||||||||||||||||||
Income tax expense (benefit): | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 310 | $ | 298 | $ | 196 | ||||||||||||||||||||||||||||||||||
MidAmerican Funding | (110 | ) | (110 | ) | (108 | ) | ||||||||||||||||||||||||||||||||||
NV Energy | 195 | (15 | ) | — | ||||||||||||||||||||||||||||||||||||
Northern Powergrid | 110 | 23 | 31 | |||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 149 | 149 | 152 | |||||||||||||||||||||||||||||||||||||
BHE Transmission | 28 | 10 | 8 | |||||||||||||||||||||||||||||||||||||
BHE Renewables | 65 | 57 | 37 | |||||||||||||||||||||||||||||||||||||
HomeServices | 44 | 48 | 32 | |||||||||||||||||||||||||||||||||||||
BHE and Other(1) | (202 | ) | (330 | ) | (200 | ) | ||||||||||||||||||||||||||||||||||
Total income tax expense (benefit) | $ | 589 | $ | 130 | $ | 148 | ||||||||||||||||||||||||||||||||||
Capital expenditures: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 1,066 | $ | 1,065 | $ | 1,346 | ||||||||||||||||||||||||||||||||||
MidAmerican Funding | 1,527 | 1,027 | 645 | |||||||||||||||||||||||||||||||||||||
NV Energy | 558 | — | — | |||||||||||||||||||||||||||||||||||||
Northern Powergrid | 675 | 675 | 454 | |||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 257 | 177 | 152 | |||||||||||||||||||||||||||||||||||||
BHE Transmission | 222 | — | — | |||||||||||||||||||||||||||||||||||||
BHE Renewables | 2,221 | 1,329 | 770 | |||||||||||||||||||||||||||||||||||||
HomeServices | 17 | 21 | 8 | |||||||||||||||||||||||||||||||||||||
BHE and Other | 12 | 13 | 5 | |||||||||||||||||||||||||||||||||||||
Total capital expenditures | $ | 6,555 | $ | 4,307 | $ | 3,380 | ||||||||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||
Property, plant and equipment, net: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 18,755 | $ | 18,563 | $ | 18,129 | ||||||||||||||||||||||||||||||||||
MidAmerican Funding | 10,535 | 9,353 | 8,647 | |||||||||||||||||||||||||||||||||||||
NV Energy | 9,648 | 9,623 | — | |||||||||||||||||||||||||||||||||||||
Northern Powergrid | 5,599 | 5,476 | 4,923 | |||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 4,286 | 4,147 | 4,119 | |||||||||||||||||||||||||||||||||||||
BHE Transmission | 5,567 | — | — | |||||||||||||||||||||||||||||||||||||
BHE Renewables | 4,897 | 3,020 | 1,903 | |||||||||||||||||||||||||||||||||||||
HomeServices | 68 | 61 | 47 | |||||||||||||||||||||||||||||||||||||
BHE and Other | (107 | ) | (124 | ) | (154 | ) | ||||||||||||||||||||||||||||||||||
Total property, plant and equipment, net | $ | 59,248 | $ | 50,119 | $ | 37,614 | ||||||||||||||||||||||||||||||||||
Total assets: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 23,466 | $ | 22,885 | $ | 22,973 | ||||||||||||||||||||||||||||||||||
MidAmerican Funding | 15,368 | 13,992 | 13,355 | |||||||||||||||||||||||||||||||||||||
NV Energy | 14,454 | 14,233 | — | |||||||||||||||||||||||||||||||||||||
Northern Powergrid | 7,076 | 6,874 | 6,418 | |||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 4,968 | 4,908 | 4,865 | |||||||||||||||||||||||||||||||||||||
BHE Transmission | 7,992 | 465 | 368 | |||||||||||||||||||||||||||||||||||||
BHE Renewables | 6,123 | 3,875 | 3,342 | |||||||||||||||||||||||||||||||||||||
HomeServices | 1,629 | 1,381 | 899 | |||||||||||||||||||||||||||||||||||||
BHE and Other | 1,228 | 1,387 | 247 | |||||||||||||||||||||||||||||||||||||
Total assets | $ | 82,304 | $ | 70,000 | $ | 52,467 | ||||||||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||
Operating revenue by country: | ||||||||||||||||||||||||||||||||||||||||
United States | $ | 15,857 | $ | 11,465 | $ | 10,388 | ||||||||||||||||||||||||||||||||||
United Kingdom | 1,281 | 1,023 | 1,033 | |||||||||||||||||||||||||||||||||||||
Canada | 78 | 16 | — | |||||||||||||||||||||||||||||||||||||
Philippines and other | 110 | 131 | 127 | |||||||||||||||||||||||||||||||||||||
Total operating revenue by country | $ | 17,326 | $ | 12,635 | $ | 11,548 | ||||||||||||||||||||||||||||||||||
Income (loss) before income tax expense and equity income (loss) by country: | ||||||||||||||||||||||||||||||||||||||||
United States | $ | 2,001 | $ | 1,388 | $ | 1,060 | ||||||||||||||||||||||||||||||||||
United Kingdom | 557 | 373 | 432 | |||||||||||||||||||||||||||||||||||||
Canada | 4 | — | (4 | ) | ||||||||||||||||||||||||||||||||||||
Philippines and other | 40 | 80 | 87 | |||||||||||||||||||||||||||||||||||||
Total income before income tax expense and equity income (loss) by country: | $ | 2,602 | $ | 1,841 | $ | 1,575 | ||||||||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||
Property, plant and equipment, net by country: | ||||||||||||||||||||||||||||||||||||||||
United States | $ | 47,918 | $ | 44,460 | $ | 32,491 | ||||||||||||||||||||||||||||||||||
United Kingdom | 5,584 | 5,463 | 4,915 | |||||||||||||||||||||||||||||||||||||
Canada | 5,570 | 3 | — | |||||||||||||||||||||||||||||||||||||
Philippines and other | 176 | 193 | 208 | |||||||||||||||||||||||||||||||||||||
Total property, plant and equipment, net by country | $ | 59,248 | $ | 50,119 | $ | 37,614 | ||||||||||||||||||||||||||||||||||
-1 | The differences between the reportable segment amounts and the consolidated amounts, described as BHE and Other, relate to other corporate entities, corporate functions and intersegment eliminations. | |||||||||||||||||||||||||||||||||||||||
Schedule of Goodwill [Table Text Block] | The following table shows the change in the carrying amount of goodwill by reportable segment for the years ended December 31, 2014 and 2013 (in millions): | |||||||||||||||||||||||||||||||||||||||
BHE | ||||||||||||||||||||||||||||||||||||||||
MidAmerican | NV | Northern | Pipeline | BHE | BHE | Home- | ||||||||||||||||||||||||||||||||||
PacifiCorp | Funding | Energy | Powergrid | Group | Transmission | Renewables | Services | Other | Total | |||||||||||||||||||||||||||||||
31-Dec-12 | $ | 1,126 | $ | 2,102 | $ | — | $ | 1,135 | $ | 179 | $ | — | $ | 71 | $ | 507 | $ | — | $ | 5,120 | ||||||||||||||||||||
Acquisitions | — | — | 2,280 | — | — | — | — | 188 | 4 | 2,472 | ||||||||||||||||||||||||||||||
Foreign currency translation | — | — | — | 14 | — | — | — | — | — | 14 | ||||||||||||||||||||||||||||||
Impairment (Note 7) | — | — | — | — | — | — | (53 | ) | — | — | (53 | ) | ||||||||||||||||||||||||||||
Other | 3 | — | — | — | (26 | ) | — | (3 | ) | — | — | (26 | ) | |||||||||||||||||||||||||||
31-Dec-13 | 1,129 | 2,102 | 2,280 | 1,149 | 153 | — | 15 | 695 | 4 | 7,527 | ||||||||||||||||||||||||||||||
Acquisitions | — | — | 89 | — | — | 1,700 | 80 | 66 | — | 1,935 | ||||||||||||||||||||||||||||||
Foreign currency translation | — | — | — | (49 | ) | — | (43 | ) | — | — | (1 | ) | (93 | ) | ||||||||||||||||||||||||||
Other | — | — | — | — | (26 | ) | — | — | — | — | (26 | ) | ||||||||||||||||||||||||||||
31-Dec-14 | $ | 1,129 | $ | 2,102 | $ | 2,369 | $ | 1,100 | $ | 127 | $ | 1,657 | $ | 95 | $ | 761 | $ | 3 | $ | 9,343 | ||||||||||||||||||||
Organization_and_Operations_De
Organization and Operations (Details) | 12 Months Ended |
Dec. 31, 2014 | |
OwnedAndOperatedCompanies | |
OperatingSegments | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of reportable segments | 8 |
Number of owned and operated utility companies in the United States | 4 |
Number of states owned and operated utility companies serve customers | 11 |
Number of owned and operated electricity distribution companies in Great Britain | 2 |
Number of owned and operated interstate natural gas pipeline companies in the United States | 2 |
Number of owned and operated electricity transmission companies in Canada | 1 |
Number of owned and operated renewable energy businesses | 1 |
Number of owned and operated residential real estate brokerage firms in the United States | 1 |
Number of owned and operated real estate franchise networks in the United States | 1 |
Significant_Accounting_Policie
Significant Accounting Policies - Allowance for Doubtful Accounts (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Allowance for Doubtful Accounts [Abstract] | ||
Allowance for doubtful accounts | $37 | $33 |
Significant_Accounting_Poloice
Significant Accounting Poloices - Inventory (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Summary of Significant Accounting Policies - Inventory [Abstract] | ||
Energy related inventory | $320 | $407 |
Material and supplies inventory | 506 | 446 |
Replacement cost of inventory | $41 | $36 |
Significant_Accounting_Policie1
Significant Accounting Policies - Goodwill (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Significant Accounting Policies - Goodwill [Abstract] | |
Goodwill impairment | $53 |
Significant_Accounting_Policie2
Significant Accounting Policies - Revenue Recognition (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Significant Accounting Policies - Revenue Recognition [Abstract] | ||
Unbilled revenue | $666 | $686 |
Significant_Accounting_Policie3
Significant Accounting Policies - Income Taxes (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Significant Accounting Policies - Income Taxes [Abstract] | ||
Regulatory asset, deferred income taxes | $1,400,000,000 | $1,400,000,000 |
Regulatory liability, deferred income taxes | 24,000,000 | 34,000,000 |
Undistributed earnings of foreign subsidiaries | $3,100,000,000 |
Business_Acquisitions_Details
Business Acquisitions (Details) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 01, 2014 | Dec. 01, 2014 | Dec. 31, 2013 | Dec. 19, 2013 | Dec. 31, 2014 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 01, 2014 | Dec. 19, 2013 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Nov. 08, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | |
USD ($) | USD ($) | USD ($) | AltaLink, LP Transaction [Member] | AltaLink, LP Transaction [Member] | AltaLink, LP Transaction [Member] | NV Energy Transaction [Member] | NV Energy Transaction [Member] | Other acquisitions [Member] | CE Generation Transaction [Member] | CE Generation Transaction [Member] | Residential real estate brokerage business [Member] | Residential real estate brokerage business [Member] | Residential real estate brokerage franchise business [Member] | AltaLink [Member] | NV Energy [Member] | NV Energy [Member] | NV Energy [Member] | BHE [Member] | BHE [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Junior Subordinated Debt [Member] | Junior Subordinated Debt [Member] | Cash [Member] | Commercial Paper [Member] | Subsidiary Debt [Member] | Subsidiary Debt [Member] | BHE [Member] | NV Energy [Member] | Change in Control Costs [Member] | Donations [Member] | Noncontrolling interest put option [Member] | Noncontrolling interest call option [Member] | |
CAD | USD ($) | CAD | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | OwnedAndOperatedCompanies | USD ($) | USD ($) | USD ($) | USD ($) | AltaLink, LP Transaction [Member] | NV Energy Transaction [Member] | AltaLink, LP Transaction [Member] | NV Energy Transaction [Member] | NV Energy Transaction [Member] | AltaLink, LP Transaction [Member] | NV Energy Transaction [Member] | NV Energy Transaction [Member] | AltaLink, LP Transaction [Member] | USD ($) | NV Energy [Member] | Senior Notes [Member] | Subsidiary Debt [Member] | NV Energy Transaction [Member] | NV Energy Transaction [Member] | Residential real estate brokerage franchise business [Member] | Residential real estate brokerage franchise business [Member] | ||||||
mi | electricity_customers | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Senior Notes, 6.250%, due 2020 [Member] | USD ($) | USD ($) | |||||||||||||||||||||
substation | |||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||||||||||||||||||
Acquisition, net of cash acquired | ($2,956,000,000) | ($5,536,000,000) | ($591,000,000) | $243,000,000 | ($240,000,000) | ||||||||||||||||||||||||||||||
Business Acquisition, Share Price | $23.75 | ||||||||||||||||||||||||||||||||||
Business acquisition, percentage of voting interests acquired | 50.00% | 50.00% | 66.70% | 100.00% | 100.00% | ||||||||||||||||||||||||||||||
Number of electricity customers | 1,200,000 | ||||||||||||||||||||||||||||||||||
Number of natural gas customers | 200,000 | ||||||||||||||||||||||||||||||||||
Credit to retail customers | 20,000,000 | ||||||||||||||||||||||||||||||||||
Number of days for retail customers bill credit | 30 days | ||||||||||||||||||||||||||||||||||
Return on common equity percentage | 10.00% | ||||||||||||||||||||||||||||||||||
Recovery of loss on revenues | 50.00% | ||||||||||||||||||||||||||||||||||
Costs and expenses of an acquired entity | 38,000,000 | 22,000,000 | 16,000,000 | ||||||||||||||||||||||||||||||||
Cash and equivalents assumed | 15,000,000 | 304,000,000 | |||||||||||||||||||||||||||||||||
Current assets, including cash and cash equivalents | 174,000,000 | 1,159,000,000 | |||||||||||||||||||||||||||||||||
Property, plant, and equipment assumed | 5,610,000,000 | 9,511,000,000 | 641,000,000 | ||||||||||||||||||||||||||||||||
Goodwill | 9,343,000,000 | 7,527,000,000 | 5,120,000,000 | 1,700,000,000 | 2,369,000,000 | 2,369,000,000 | 2,280,000,000 | 0 | |||||||||||||||||||||||||||
Other long-term assets assumed | 120,000,000 | 1,347,000,000 | |||||||||||||||||||||||||||||||||
Total assets assumed | 7,604,000,000 | 14,386,000,000 | |||||||||||||||||||||||||||||||||
Current liabilities, including current portion of long-term debt assumed | 843,000,000 | 880,000,000 | |||||||||||||||||||||||||||||||||
Current portion of long-term debt assumed | 79,000,000 | 218,000,000 | |||||||||||||||||||||||||||||||||
Subsidiary debt, less current portion assumed | 590,000,000 | 3,772,000,000 | 5,116,000,000 | 231,000,000 | |||||||||||||||||||||||||||||||
Deferred income taxes assumed | 79,000,000 | 1,731,000,000 | 170,000,000 | ||||||||||||||||||||||||||||||||
Other long-term liabilities assumed | 182,000,000 | 1,063,000,000 | |||||||||||||||||||||||||||||||||
Other long-term liabilities assumed | 4,876,000,000 | 8,790,000,000 | |||||||||||||||||||||||||||||||||
Net assets acquired | 2,728,000,000 | 3,100,000,000 | 5,596,000,000 | ||||||||||||||||||||||||||||||||
Business combination, acquisition of less than 100 percent, noncontrolling interest, fair value | 65,000,000 | ||||||||||||||||||||||||||||||||||
Business combination, acquisition related costs | 3,000,000 | 5,000,000 | |||||||||||||||||||||||||||||||||
Purchase price allocation period | 12 | ||||||||||||||||||||||||||||||||||
Goodwill, acquired during period | 1,935,000,000 | 2,472,000,000 | 112,000,000 | 80,000,000 | 188,000,000 | 89,000,000 | 2,280,000,000 | ||||||||||||||||||||||||||||
Payments to Acquire Intangible Assets | 92,000,000 | ||||||||||||||||||||||||||||||||||
Number of businesses acquired | 5 | ||||||||||||||||||||||||||||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 33.30% | 33.30% | |||||||||||||||||||||||||||||||||
Stated interest rate | 6.25% | ||||||||||||||||||||||||||||||||||
Payments to acquire businesses, gross | 1,000,000,000 | 1,500,000,000 | 2,600,000,000 | 2,000,000,000 | 1,000,000,000 | ||||||||||||||||||||||||||||||
Transmission line | 7,800 | ||||||||||||||||||||||||||||||||||
Substation | 300 | ||||||||||||||||||||||||||||||||||
Percentage of earnings committed to reinvest | 100.00% | ||||||||||||||||||||||||||||||||||
Number of years committed to reinvest earnings | 5 | ||||||||||||||||||||||||||||||||||
Investment commitment in Alberta's infrastructure | 2,700,000,000 | ||||||||||||||||||||||||||||||||||
Number of years committed to invest in Alberta's infrastructure | 3 | ||||||||||||||||||||||||||||||||||
Minimum amount pursue joint development opportunities with Canadian partners in Canada and the United States | 27,000,000 | ||||||||||||||||||||||||||||||||||
Minimum investment of new funds to support Alberta-based academic programs focused on energy-related topics cultural organizations and community-based programs | 3,000,000 | ||||||||||||||||||||||||||||||||||
Amount committed to invest in community and charitable contributions across Alberta | 3,000,000 | ||||||||||||||||||||||||||||||||||
The number of years committed to invest in community and charitable contributions across Alberta | 3 | ||||||||||||||||||||||||||||||||||
Net income attributable to BHE shareholders | 2,095,000,000 | 1,636,000,000 | 1,472,000,000 | 13,000,000 | |||||||||||||||||||||||||||||||
Par value | 38,593,000,000 | 26,924,000,000 | 5,093,000,000 | 2,000,000,000 | |||||||||||||||||||||||||||||||
Business combination, recognized identifiable assets acquired and liabilities assumed, liabilities | $271,000,000 |
Business_Acquisitions_Pro_Form
Business Acquisitions - Pro Forma (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
AltaLink, LP Transaction [Member] | |||
Business Acquisition [Line Items] | |||
Pro forma operating revenue | $17,888 | $13,130 | |
Pro forma net income attributable to BHE shareholders | 2,155 | 1,667 | |
NV Energy Transaction [Member] | |||
Business Acquisition [Line Items] | |||
NV Energy non-recurring charges | 74 | ||
Credit to retail customers, after-tax | 13 | ||
Pro forma operating revenue | 15,561 | 14,369 | |
Pro forma net income attributable to BHE shareholders | $1,867 | $1,638 |
Property_Plant_and_Equipment_N2
Property, Plant and Equipment, Net (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2012 | Dec. 31, 2013 |
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment in service, net | 54,054 | $45,902 | |
Construction work-in-progress | 5,194 | 4,217 | |
Property, plant and equipment, net | 59,248 | 37,614 | 50,119 |
Regulated Operation [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | 71,305 | 63,938 | |
Accumulated depreciation and amortization | -21,447 | -19,874 | |
Property, plant and equipment in service, net | 49,858 | 44,064 | |
Construction work-in-progress | 4,300 | 2,800 | |
Regulated Operation [Member] | Utility generation, distribution and transmission system [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | 64,645 | 57,490 | |
Regulated Operation [Member] | Utility generation, distribution and transmission system [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Depreciable life | 5 years | ||
Regulated Operation [Member] | Utility generation, distribution and transmission system [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Depreciable life | 80 years | ||
Regulated Operation [Member] | Interstate pipeline assets [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | 6,660 | 6,448 | |
Regulated Operation [Member] | Interstate pipeline assets [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Depreciable life | 3 years | ||
Regulated Operation [Member] | Interstate pipeline assets [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Depreciable life | 80 years | ||
Nonregulated Operation [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | 5,035 | 2,516 | |
Accumulated depreciation and amortization | -839 | -678 | |
Property, plant and equipment in service, net | 4,196 | 1,838 | |
Nonregulated Operation [Member] | Independent power plants [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | 4,362 | 1,994 | |
Nonregulated Operation [Member] | Independent power plants [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Depreciable life | 5 years | ||
Nonregulated Operation [Member] | Independent power plants [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Depreciable life | 30 years | ||
Nonregulated Operation [Member] | Other assets [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | 673 | 522 | |
Nonregulated Operation [Member] | Other assets [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Depreciable life | 3 years | ||
Nonregulated Operation [Member] | Other assets [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Depreciable life | 30 years | ||
PacifiCorp [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, net | 18,755 | 18,129 | 18,563 |
PacifiCorp [Member] | Service Life [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Change in accounting estimates, impact on period of change | 35 | ||
MidAmerican Funding [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, net | 10,535 | 8,647 | 9,353 |
MidAmerican Funding [Member] | Service Life [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Change in accounting estimates, impact on period of change | 50 | 5 | |
Change in accounting estimates, impact on future periods | 11 | ||
MidAmerican Funding [Member] | Electricity Generation Plant, Non-Nuclear [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Change in accounting estimates, impact on period of change | 20 | ||
Change in accounting estimates, impact on future periods | $49 |
Jointly_Owned_Utility_Faciliti2
Jointly Owned Utility Facilities (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | |
Jointly Owned Utility Plant Interests [Line Items] | ||
Facility in Service | $8,732 | |
Accumulated Depreciation and Amortization | 3,718 | |
Construction Work in Progress | 247 | |
PacifiCorp [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Facility in Service | 3,542 | |
Accumulated Depreciation and Amortization | 1,496 | |
Construction Work in Progress | 146 | |
PacifiCorp [Member] | Jim Bridger Nos. 1-4 [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 67.00% | |
Facility in Service | 1,134 | |
Accumulated Depreciation and Amortization | 554 | |
Construction Work in Progress | 116 | |
PacifiCorp [Member] | Hunter No 1 [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 94.00% | |
Facility in Service | 467 | |
Accumulated Depreciation and Amortization | 144 | |
Construction Work in Progress | 0 | |
PacifiCorp [Member] | Hunter No. 2 [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 60.00% | |
Facility in Service | 290 | |
Accumulated Depreciation and Amortization | 88 | |
Construction Work in Progress | 1 | |
PacifiCorp [Member] | Wyodak [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 80.00% | |
Facility in Service | 450 | |
Accumulated Depreciation and Amortization | 183 | |
Construction Work in Progress | 5 | |
PacifiCorp [Member] | Colstrip Nos. 3 and 4 [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 10.00% | |
Facility in Service | 231 | |
Accumulated Depreciation and Amortization | 125 | |
Construction Work in Progress | 1 | |
PacifiCorp [Member] | Hermiston [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 50.00% | [1] |
Facility in Service | 175 | [1] |
Accumulated Depreciation and Amortization | 67 | [1] |
Construction Work in Progress | 1 | [1] |
Percentage Of Remaining Output The Entity Has Contracted To Purchase | 50.00% | |
PacifiCorp [Member] | Craig Nos. 1 and 2 [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 19.00% | |
Facility in Service | 323 | |
Accumulated Depreciation and Amortization | 203 | |
Construction Work in Progress | 7 | |
PacifiCorp [Member] | Hayden No. 1 [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 25.00% | |
Facility in Service | 55 | |
Accumulated Depreciation and Amortization | 27 | |
Construction Work in Progress | 12 | |
PacifiCorp [Member] | Hayden No. 2 [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 13.00% | |
Facility in Service | 33 | |
Accumulated Depreciation and Amortization | 18 | |
Construction Work in Progress | 3 | |
PacifiCorp [Member] | Foote Creek [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 79.00% | |
Facility in Service | 37 | |
Accumulated Depreciation and Amortization | 22 | |
Construction Work in Progress | 0 | |
PacifiCorp [Member] | Transmission and distribution facilities [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | Various | |
Facility in Service | 347 | |
Accumulated Depreciation and Amortization | 65 | |
Construction Work in Progress | 0 | |
MidAmerican Energy Company [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Facility in Service | 3,876 | |
Accumulated Depreciation and Amortization | 1,612 | |
Construction Work in Progress | 63 | |
MidAmerican Energy Company [Member] | Transmission and distribution facilities [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | Various | |
Facility in Service | 243 | |
Accumulated Depreciation and Amortization | 81 | |
Construction Work in Progress | 17 | |
MidAmerican Energy Company [Member] | Louisa No. 1 [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 88.00% | |
Facility in Service | 747 | |
Accumulated Depreciation and Amortization | 392 | |
Construction Work in Progress | 4 | |
MidAmerican Energy Company [Member] | Quad Cities Nos 1 and 2 [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 25.00% | [2] |
Facility in Service | 656 | [2] |
Accumulated Depreciation and Amortization | 316 | [2] |
Construction Work in Progress | 27 | [2] |
MidAmerican Energy Company [Member] | Walter Scott, Jr. No. 3 [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 79.00% | |
Facility in Service | 561 | |
Accumulated Depreciation and Amortization | 287 | |
Construction Work in Progress | 7 | |
MidAmerican Energy Company [Member] | Walter Scott, Jr. No. 4 [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 60.00% | [3] |
Facility in Service | 446 | [3] |
Accumulated Depreciation and Amortization | 82 | [3] |
Construction Work in Progress | 3 | [3] |
Revenue Sharing Credits Netted Against Facility In Service | 320 | |
Revenue Sharing Credits Netted Against Accumulated Depreciation | 60 | |
MidAmerican Energy Company [Member] | George Neal No. 4 [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 41.00% | |
Facility in Service | 303 | |
Accumulated Depreciation and Amortization | 142 | |
Construction Work in Progress | 0 | |
MidAmerican Energy Company [Member] | Ottumwa No. 1 [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 52.00% | |
Facility in Service | 530 | |
Accumulated Depreciation and Amortization | 171 | |
Construction Work in Progress | 2 | |
MidAmerican Energy Company [Member] | George Neal No. 3 [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 72.00% | |
Facility in Service | 390 | |
Accumulated Depreciation and Amortization | 141 | |
Construction Work in Progress | 3 | |
NV Energy [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Facility in Service | 1,003 | |
Accumulated Depreciation and Amortization | 435 | |
Construction Work in Progress | 36 | |
NV Energy [Member] | Transmission and distribution facilities [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | Various | |
Facility in Service | 221 | |
Accumulated Depreciation and Amortization | 32 | |
Construction Work in Progress | 2 | |
NV Energy [Member] | Navajo [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 11.00% | |
Facility in Service | 198 | |
Accumulated Depreciation and Amortization | 135 | |
Construction Work in Progress | 2 | |
NV Energy [Member] | Silverhawk [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 75.00% | |
Facility in Service | 241 | |
Accumulated Depreciation and Amortization | 55 | |
Construction Work in Progress | 5 | |
NV Energy [Member] | Valmy [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 50.00% | |
Facility in Service | 343 | |
Accumulated Depreciation and Amortization | 213 | |
Construction Work in Progress | 27 | |
BHE Pipeline Group [Member] | BHE Pipeline Group - common facilities [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | Various | |
Facility in Service | 311 | |
Accumulated Depreciation and Amortization | 175 | |
Construction Work in Progress | $2 | |
[1] | PacifiCorp has contracted to purchase the remaining 50% of the output of the Hermiston generating facility. | |
[2] | Includes amounts related to nuclear fuel. | |
[3] | Facility in-service and accumulated depreciation and amortization amounts are net of credits applied under Iowa revenue sharing arrangements totaling $320B million and $60B million, respectively. |
Regulatory_Assets_Details
Regulatory Assets (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | |||
Regulatory Assets [Line Items] | ||||
Regulatory assets, current | $253,000,000 | $193,000,000 | ||
Regulatory assets, noncurrent | 4,000,000,000 | 3,322,000,000 | ||
Total regulatory assets | 4,253,000,000 | 3,515,000,000 | ||
Regulatory assets not earning a return on investment | 2,600,000,000 | 2,200,000,000 | ||
Deferred income taxes [Member] | ||||
Regulatory Assets [Line Items] | ||||
Total regulatory assets | 1,468,000,000 | [1] | 1,413,000,000 | [1] |
Weighted average remaining life | 26 years | |||
Employee benefit plans [Member] | ||||
Regulatory Assets [Line Items] | ||||
Total regulatory assets | 747,000,000 | [2] | 589,000,000 | [2] |
Weighted average remaining life | 9 years | |||
Asset disposition costs [Member] | ||||
Regulatory Assets [Line Items] | ||||
Total regulatory assets | 329,000,000 | [3] | 23,000,000 | [3] |
Weighted average remaining life | Various | |||
Deferred net power costs [Member] | ||||
Regulatory Assets [Line Items] | ||||
Total regulatory assets | 277,000,000 | 303,000,000 | ||
Weighted average remaining life | 1 year | |||
Asset retirement obligations [Member] | ||||
Regulatory Assets [Line Items] | ||||
Total regulatory assets | 239,000,000 | 193,000,000 | ||
Weighted average remaining life | 10 years | |||
Unrealized loss on regulated derivative contracts [Member] | ||||
Regulatory Assets [Line Items] | ||||
Total regulatory assets | 223,000,000 | 182,000,000 | ||
Weighted average remaining life | 5 years | |||
Abandoned Projects [Member] | ||||
Regulatory Assets [Line Items] | ||||
Total regulatory assets | 159,000,000 | 80,000,000 | ||
Weighted average remaining life | 5 years | |||
Unamortized contract values [Member] | ||||
Regulatory Assets [Line Items] | ||||
Total regulatory assets | 123,000,000 | 146,000,000 | ||
Weighted average remaining life | 8 years | |||
Other [Member] | ||||
Regulatory Assets [Line Items] | ||||
Total regulatory assets | $688,000,000 | $586,000,000 | ||
Weighted average remaining life | Various | |||
[1] | Amounts primarily represent income tax benefits related to state accelerated tax depreciation and certain property-related basis differences that were previously flowed through to customers and will be included in regulated rates when the temporary differences reverse. | |||
[2] | Represents amounts not yet recognized as a component of net periodic benefit cost thatB are expected toB beB included in regulated rates when recognized. | |||
[3] | Includes amounts established as a result of the Utah Mine Disposition for the net property, plant and equipment not considered probable of disallowance and for the portion of losses associated with the assets held for sale, UMWAB 1974 Pension Trust withdrawal and closure costs incurred to date considered probable of recovery. |
Regulatory_Liabilities_Details
Regulatory Liabilities (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | ||
Regulatory Liabilities [Line Items] | ||||
Regulatory liabilities, current | $163 | $167 | ||
Regulatory liabilities, noncurrent | 2,669 | 2,498 | ||
Total regulatory liabilities | 2,832 | 2,665 | ||
Cost of removal [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Total regulatory liabilities | 2,215 | [1] | 2,009 | [1] |
Weighted average remaining life | 28 years | |||
Asset retirement obligations [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Total regulatory liabilities | 169 | 151 | ||
Weighted average remaining life | 23 years | |||
Levelized depreciation [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Total regulatory liabilities | 169 | 144 | ||
Weighted average remaining life | 27 years | |||
Employee benefit plans [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Total regulatory liabilities | 20 | [2] | 74 | [2] |
Weighted average remaining life | 12 years | |||
Other [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Total regulatory liabilities | $259 | $287 | ||
Weighted average remaining life | Various | |||
[1] | Amounts represent estimated costs, as accrued through depreciation rates and exclusive of ARO liabilities, of removing regulated property, plant and equipment in accordance with accepted regulatory practices. Amounts are deducted from rate base or otherwise accrue a carrying cost. | |||
[2] | Represents amounts not yet recognized as a component of net periodic benefit cost that are to be returned to customers in future periods when recognized. |
Investments_and_Restricted_Cas2
Investments and Restricted Cash and Investments (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2014 |
Investments [Abstract] | |||
Investments | $1,393 | $1,602 | |
Equity Method Investments [Abstract] | |||
Equity method investments | 868 | 943 | |
Restricted Cash and Investments [Abstract] | |||
Restricted cash and investments | 657 | 756 | |
Investments, including equity method and restricted cash and investments | 2,918 | 3,301 | |
Investments, including equity method and restricted cash and investments, current | 115 | 65 | |
Investments, including equity method and restricted cash and investments, noncurrent | 2,803 | 3,236 | |
Quad Cities Station nuclear decommissioning trust funds [Member] | |||
Restricted Cash and Investments [Abstract] | |||
Decommissioning fund investments, fair value | 424 | 394 | |
Solar Star and Topaz Projects [Member] | |||
Restricted Cash and Investments [Abstract] | |||
Restricted cash and investments | 66 | 236 | |
Restricted Cash and Investments, Other [Member] | |||
Restricted Cash and Investments [Abstract] | |||
Restricted cash and investments | 167 | 126 | |
Solar Star Projects [Member] | |||
Restricted Cash and Investments [Abstract] | |||
Restricted cash and investments | 22 | 201 | |
Topaz Project [Member] | |||
Restricted Cash and Investments [Abstract] | |||
Restricted cash and investments | 44 | 35 | |
Electric Transmission Texas, LLC [Member] | |||
Equity Method Investments [Abstract] | |||
Equity method investments | 515 | 454 | |
Equity method investment, ownership percentage | 50.00% | 50.00% | |
Bridger Coal Company [Member] | |||
Equity Method Investments [Abstract] | |||
Equity method investments | 192 | 178 | |
Equity method investment, ownership percentage | 66.67% | 66.67% | |
Agua Caliente Solar, LLC [Member] | |||
Equity Method Investments [Abstract] | |||
Equity method investments | 81 | 41 | |
Equity method investment, ownership percentage | 49.00% | 0.00% | |
CE Generation [Member] | |||
Equity Method Investments [Abstract] | |||
Equity method investments | 0 | 185 | |
Equity method investment, ownership percentage | 50.00% | ||
Impairment charge on equity investments | 116 | ||
Other equity method investments [Member] | |||
Equity Method Investments [Abstract] | |||
Equity method investments | 80 | 85 | |
BYD Company Limited common stock [Member] | |||
Investments [Abstract] | |||
Available-for-sale securities, equity ecurities | 881 | 1,103 | |
Available-for-sale securities, gross unrealized gain (loss) | 649 | 871 | |
Rabbi trusts [Member] | |||
Investments [Abstract] | |||
Life insurance, corporate or bank owned, amount | 386 | 373 | |
Other investments [Member] | |||
Investments [Abstract] | |||
Other investments | $126 | $126 | |
CE Generation Transaction [Member] | |||
Equity Method Investments [Abstract] | |||
Business acquisition, percentage of voting interests acquired | 50.00% | 50.00% |
ShortTerm_Debt_and_Credit_Faci2
Short-Term Debt and Credit Faciliites (Details) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Feb. 29, 2012 | Dec. 31, 2014 | ||
In Millions, unless otherwise specified | USD ($) | USD ($) | BHE [Member] | BHE [Member] | BHE [Member] | PacifiCorp [Member] | PacifiCorp [Member] | PacifiCorp [Member] | PacifiCorp [Member] | PacifiCorp [Member] | MidAmerican Funding [Member] | MidAmerican Funding [Member] | NV Energy [Member] | NV Energy [Member] | MidAmerican Energy Company [Member] | Northern Powergrid [Member] | Northern Powergrid [Member] | ALP [Member] | ALP [Member] | ALP Investments [Member] | ALP Investments [Member] | ALP Investments [Member] | AltaLink [Member] | AltaLink [Member] | HomeServices [Member] | HomeServices [Member] | BHE Renewables [Member] | Unsecured credit facility, $1.4 billion, expiring June 2017 [Member] | Unsecured credit facility, $600 million, expiring June 2017 [Member] | Unsecured credit facility, $600 million, expiring June 2017 [Member] | Unsecured credit facility, $600 million, expiring March 2018 [Member] | Unsecured credit facility, $600 million, expiring March 2018 [Member] | Secured credit facility, $400 million, expiring March 2018 [Member] | Secured credit facility, $250 million, expiring March 2018 [Member] | Unsecured credit facility, £150 million, expiring August 2017 [Member] | Unsecured credit facility, £150 million, expiring August 2017 [Member] | Unsecured credit facility, £150 million, expiring August 2017 [Member] | Unsecured credit facility, £150 million, expiring August 2017 [Member] | Unsecured credit facility, £150 million, expiring August 2017 [Member] | Uncommitted bank facilities [Member] | Uncommitted bank facilities [Member] | Secured credit facility, C$925 million, expiring December 2016 [Member] | Secured credit facility, C$75 million, expiring December 2016 [Member] | Secured credit facility, C$300 million, expiring December 2019 [Member] | Unsecured credit facility, $350 million, expiring July 2018 [Member] | Unsecured credit facility, $478 million, expiring May 2015 through December 2015 [Member] | Unsecured credit facility, $275 million, expiring May 2014 through October 2014 [Member] | Mortgage Line of Credit, $25 million available [Member] | Mortgage Line of Credit, $40 million available [Member] | Letter of credit and reimbursement facility, Topaz [Member] | Letter of credit and reimbursement facility, Topaz [Member] | Letter of credit facility, Agua Caliente [Member] | ||
USD ($) | USD ($) | Line of Credit [Member] | USD ($) | USD ($) | Line of Credit [Member] | Letter of Credit [Member] | Letter of Credit [Member] | USD ($) | USD ($) | USD ($) | USD ($) | Line of Credit [Member] | USD ($) | USD ($) | USD ($) | Line of Credit [Member] | USD ($) | Line of Credit [Member] | Letter of Credit [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | BHE [Member] | BHE [Member] | PacifiCorp [Member] | PacifiCorp [Member] | MidAmerican Energy Company [Member] | Nevada Power [Member] | Sierra Pacific [Member] | Northern Powergrid [Member] | Northern Powergrid [Member] | Northern Powergrid [Member] | Northern Powergrid (Northeast) Limited [Member] | Northern Powergrid (Yorkshire) plc [Member] | Northern Powergrid [Member] | Northern Powergrid [Member] | ALP [Member] | ALP [Member] | ALP Investments [Member] | HomeServices [Member] | HomeServices [Member] | HomeServices [Member] | HomeServices [Member] | HomeServices [Member] | Topaz [Member] | Topaz [Member] | BHE [Member] | |||||
USD ($) | USD ($) | CAD | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Letter of Credit [Member] | Letter of Credit [Member] | USD ($) | |||||||||||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | GBP (£) | USD ($) | USD ($) | GBP (£) | CAD | CAD | CAD | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||||||||||||||||||||||||||||||||
Line of Credit Facility [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line of credit facility, maximum borrowing capacity | $6,696 | [1] | $4,072 | [1] | $2,000 | $600 | $1,200 | $1,200 | $609 | $609 | $650 | $750 | $265 | $248 | 10 | $1,119 | $0 | $853 | $665 | $1,400 | $600 | $600 | $600 | $600 | $400 | $250 | £ 150 | £ 42 | 925 | 75 | 300 | $350 | $478 | $275 | $25 | $40 | $345 | |||||||||||||||||
Short-term debt | -1,445 | [1] | -232 | [1] | -395 | 0 | -20 | 0 | -50 | 0 | 0 | 0 | -215 | -102 | -104 | -147 | -251 | 0 | -514 | -130 | -184 | -102 | -31 | -243 | -270 | -124 | -1 | -6 | ||||||||||||||||||||||||||
Line of credit facility, amounts supported | -625 | [1] | -572 | [1] | -28 | -50 | -398 | -321 | -270 | -270 | -195 | -195 | 0 | -6 | 0 | 0 | -4 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||
Line of credit facility, remaining borrowing capacity | 4,626 | [1] | 3,268 | [1] | 1,577 | 550 | 782 | 879 | 364 | 414 | 650 | 744 | 50 | 146 | 864 | 0 | 339 | 535 | ||||||||||||||||||||||||||||||||||||
Debt to capitalization ratio | 0.7 | 0.65 | 0.65 | 0.75 | 0.8 | 0.68 | 0.68 | |||||||||||||||||||||||||||||||||||||||||||||||
EBITDA to interest expense ratio | 2.25 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt to regulated asset value | 0.8 | 0.8 | 0.65 | 0.65 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest coverage ratio | 2.5 | 2.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage line of credit, days notice | 90 days | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum interest rate | 3.38% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage line of credit, collateral | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Letters of credit outstanding, amount | $451 | $559 | $63 | $245 | $43 | |||||||||||||||||||||||||||||||||||||||||||||||||
Debt, Weighted Average Interest Rate | 0.49% | 0.43% | 0.35% | 1.26% | 1.30% | 1.75% | 1.75% | 1.74% | 2.00% | 2.00% | 1.41% | 2.25% | 3.15% | 3.38% | 3.38% | |||||||||||||||||||||||||||||||||||||||
[1] | The above table does not include unused credit facilities and letters of credit for investments that are accounted for under the equity method. |
BHE_Debt_Details
BHE Debt (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
BHE Debt [Line Items] | |||
Par value | $38,593 | ||
Noncurrent senior debt | 7,860 | 6,366 | |
Interest expense to Berkshire Hathaway | 78 | 3 | 0 |
BHE junior subordinated debentures | 3,794 | 2,594 | |
BHE [Member] | 5.00%, Senior Notes, due 2014 [Member] | |||
BHE Debt [Line Items] | |||
Stated interest rate | 0.00% | 5.00% | |
BHE [Member] | 1.10%, Senior Notes, due 2017 [Member] | |||
BHE Debt [Line Items] | |||
Stated interest rate | 1.10% | 1.10% | |
BHE [Member] | 5.75%, Senior Notes, due 2018 [Member] | |||
BHE Debt [Line Items] | |||
Stated interest rate | 5.75% | 5.75% | |
BHE [Member] | 2.00%, Senior Notes, due 2018 [Member] | |||
BHE Debt [Line Items] | |||
Stated interest rate | 2.00% | 2.00% | |
BHE [Member] | 2.40% Senior Notes, due 2020 [Member] | |||
BHE Debt [Line Items] | |||
Stated interest rate | 2.40% | 0.00% | |
BHE [Member] | 3.75%, Senior Notes, due 2018 [Member] | |||
BHE Debt [Line Items] | |||
Stated interest rate | 3.75% | 3.75% | |
BHE [Member] | 3.50% Senior Notes, due 2025 [Member] | |||
BHE Debt [Line Items] | |||
Stated interest rate | 3.50% | 0.00% | |
BHE [Member] | 8.48%, Senior Notes, due 2028 [Member] | |||
BHE Debt [Line Items] | |||
Stated interest rate | 8.48% | 8.48% | |
BHE [Member] | 6.125%, Senior Bonds, due 2036 [Member] | |||
BHE Debt [Line Items] | |||
Stated interest rate | 6.13% | 6.13% | |
BHE [Member] | 5.95%, Senior Bonds, due 2037 [Member] | |||
BHE Debt [Line Items] | |||
Stated interest rate | 5.95% | 5.95% | |
BHE [Member] | 6.50%, Senior Bonds, due 2037 [Member] | |||
BHE Debt [Line Items] | |||
Stated interest rate | 6.50% | 6.50% | |
BHE [Member] | 5.15%, Senior Notes, due 2043 [Member] | |||
BHE Debt [Line Items] | |||
Stated interest rate | 5.15% | 5.15% | |
BHE [Member] | 4.50% Senior Notes, due 2045 [Member] | |||
BHE Debt [Line Items] | |||
Stated interest rate | 4.50% | 0.00% | |
Senior Notes [Member] | BHE [Member] | |||
BHE Debt [Line Items] | |||
Par value | 7,875 | ||
Total BHE Senior Debt | 7,860 | 6,616 | |
Current senior debt | 0 | 250 | |
Noncurrent senior debt | 7,860 | 6,366 | |
Senior Notes [Member] | BHE [Member] | 5.00%, Senior Notes, due 2014 [Member] | |||
BHE Debt [Line Items] | |||
Par value | 0 | ||
Total BHE Senior Debt | 0 | 250 | |
Senior Notes [Member] | BHE [Member] | 1.10%, Senior Notes, due 2017 [Member] | |||
BHE Debt [Line Items] | |||
Par value | 400 | ||
Total BHE Senior Debt | 400 | 400 | |
Senior Notes [Member] | BHE [Member] | 5.75%, Senior Notes, due 2018 [Member] | |||
BHE Debt [Line Items] | |||
Par value | 650 | ||
Total BHE Senior Debt | 649 | 649 | |
Senior Notes [Member] | BHE [Member] | 2.00%, Senior Notes, due 2018 [Member] | |||
BHE Debt [Line Items] | |||
Par value | 350 | ||
Total BHE Senior Debt | 350 | 350 | |
Senior Notes [Member] | BHE [Member] | 2.40% Senior Notes, due 2020 [Member] | |||
BHE Debt [Line Items] | |||
Par value | 350 | ||
Total BHE Senior Debt | 350 | 0 | |
Senior Notes [Member] | BHE [Member] | 3.75%, Senior Notes, due 2018 [Member] | |||
BHE Debt [Line Items] | |||
Par value | 500 | ||
Total BHE Senior Debt | 500 | 500 | |
Senior Notes [Member] | BHE [Member] | 3.50% Senior Notes, due 2025 [Member] | |||
BHE Debt [Line Items] | |||
Par value | 400 | ||
Total BHE Senior Debt | 400 | 0 | |
Senior Notes [Member] | BHE [Member] | 8.48%, Senior Notes, due 2028 [Member] | |||
BHE Debt [Line Items] | |||
Par value | 475 | ||
Total BHE Senior Debt | 482 | 483 | |
Senior Notes [Member] | BHE [Member] | 6.125%, Senior Bonds, due 2036 [Member] | |||
BHE Debt [Line Items] | |||
Par value | 1,700 | ||
Total BHE Senior Debt | 1,699 | 1,699 | |
Senior Notes [Member] | BHE [Member] | 5.95%, Senior Bonds, due 2037 [Member] | |||
BHE Debt [Line Items] | |||
Par value | 550 | ||
Total BHE Senior Debt | 548 | 548 | |
Senior Notes [Member] | BHE [Member] | 6.50%, Senior Bonds, due 2037 [Member] | |||
BHE Debt [Line Items] | |||
Par value | 1,000 | ||
Total BHE Senior Debt | 992 | 992 | |
Senior Notes [Member] | BHE [Member] | 5.15%, Senior Notes, due 2043 [Member] | |||
BHE Debt [Line Items] | |||
Par value | 750 | ||
Total BHE Senior Debt | 746 | 745 | |
Senior Notes [Member] | BHE [Member] | 4.50% Senior Notes, due 2045 [Member] | |||
BHE Debt [Line Items] | |||
Par value | 750 | ||
Total BHE Senior Debt | 744 | 0 | |
Junior Subordinated Debt [Member] | BHE [Member] | |||
BHE Debt [Line Items] | |||
Par value | 3,794 | ||
BHE junior subordinated debentures | 30 years | ||
Long-Term Debt, Variable Interest Rate, Base Rate Floor | 1.00% | ||
Base Rate, Principal Repayment Trigger | 50.00% | ||
BHE junior subordinated debentures | 3,794 | 2,594 | |
Junior Subordinated Debt [Member] | BHE [Member] | BHE Junior Subordinated Debentures, due 2043 [Member] | |||
BHE Debt [Line Items] | |||
Par value | 2,294 | ||
Variable interest rate | 3.00% | 3.00% | |
BHE junior subordinated debentures | 2,294 | 2,594 | |
Junior Subordinated Debt [Member] | BHE [Member] | BHE Junior Subordinated Debentures, due 2044 [Member] | |||
BHE Debt [Line Items] | |||
Par value | 1,500 | ||
BHE junior subordinated debentures | $1,500 | $0 | |
Basis Point Spread, Up To 3rd Anniversary Date [Member] | Junior Subordinated Debt [Member] | BHE [Member] | BHE Junior Subordinated Debentures, due 2043 [Member] | |||
BHE Debt [Line Items] | |||
Variable interest rate | 2.00% | 2.00% | |
Basis Point Spread, 3rd Anniversary up to 7th Anniversary Date [Member] | Junior Subordinated Debt [Member] | BHE [Member] | BHE Junior Subordinated Debentures, due 2043 [Member] | |||
BHE Debt [Line Items] | |||
Variable interest rate | 3.00% | 3.00% | |
Basis Point Spread, If 50% of principal is paid by 3rd Anniversary Date [Member] | Junior Subordinated Debt [Member] | BHE [Member] | BHE Junior Subordinated Debentures, due 2043 [Member] | |||
BHE Debt [Line Items] | |||
Variable interest rate | 2.00% | 2.00% | |
Basis Point Spread, 7th Anniversary Date Until Maturity Date [Member] | Junior Subordinated Debt [Member] | BHE [Member] | BHE Junior Subordinated Debentures, due 2043 [Member] | |||
BHE Debt [Line Items] | |||
Variable interest rate | 3.75% | 3.75% |
Subsidiary_Debt_Summary_Detail
Subsidiary Debt - Summary (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | |
In Millions, unless otherwise specified | |||
Debt Instrument [Line Items] | |||
Par value | $38,593 | ||
Other Long-term Debt, Noncurrent | 25,763 | 21,864 | |
Subsidiary Debt [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 26,924 | ||
Other Long-term Debt, Current | 1,232 | 938 | |
Other Long-term Debt, Noncurrent | 25,763 | 21,864 | |
Other long-term debt | 26,995 | 22,802 | |
Subsidiary Debt [Member] | PacifiCorp [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 7,102 | ||
Other long-term debt | 7,089 | 6,933 | |
Subsidiary Debt [Member] | MidAmerican Funding [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 4,396 | ||
Other long-term debt | 4,345 | 3,838 | |
Subsidiary Debt [Member] | NV Energy [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 5,093 | ||
Other long-term debt | 5,138 | 5,296 | |
Subsidiary Debt [Member] | Northern Powergrid [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 2,267 | [1] | |
Other long-term debt | 2,334 | 2,487 | |
Subsidiary Debt [Member] | BHE Pipeline Group [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 1,367 | ||
Other long-term debt | 1,366 | 1,448 | |
Subsidiary Debt [Member] | BHE Transmission [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 3,735 | [2] | |
Other long-term debt | 3,756 | 0 | |
Subsidiary Debt [Member] | BHE Renewables [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 2,964 | ||
Other long-term debt | $2,967 | $2,800 | |
[1] | The par values for these debt instruments are denominated in sterling. | ||
[2] | Amortizes quarterly or semiannually. |
Subsidiary_Debt_PacifiCorp_Det
Subsidiary Debt - PacifiCorp (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
Debt Instrument [Line Items] | ||||
Par value | $38,593,000,000 | |||
Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 26,924,000,000 | |||
Other long-term debt | 26,995,000,000 | 22,802,000,000 | ||
PacifiCorp [Member] | Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 7,102,000,000 | |||
Other long-term debt | 7,089,000,000 | 6,933,000,000 | ||
Eligible property subject to lien of mortgages | 25,000,000,000 | |||
PacifiCorp [Member] | Subsidiary Debt [Member] | Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable interest rate | 0.02% | 0.03% | ||
PacifiCorp [Member] | Subsidiary Debt [Member] | Maximum [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable interest rate | 0.28% | 0.52% | ||
PacifiCorp [Member] | First Mortgage Bonds, 5.50% To 8.635%, Due Through 2019 [Member] | Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 862,000,000 | |||
Other long-term debt | 861,000,000 | 1,070,000,000 | ||
PacifiCorp [Member] | First Mortgage Bonds, 5.50% To 8.635%, Due Through 2019 [Member] | Subsidiary Debt [Member] | Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 5.50% | 5.50% | ||
PacifiCorp [Member] | First Mortgage Bonds, 5.50% To 8.635%, Due Through 2019 [Member] | Subsidiary Debt [Member] | Maximum [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 8.64% | 8.64% | ||
PacifiCorp [Member] | First Mortgage Bonds, 2.95% To 8.53%, Due 2021 To 2024 [Member] | Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 1,899,000,000 | |||
Other long-term debt | 1,897,000,000 | 1,472,000,000 | ||
PacifiCorp [Member] | First Mortgage Bonds, 2.95% To 8.53%, Due 2021 To 2024 [Member] | Subsidiary Debt [Member] | Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 2.95% | 2.95% | ||
PacifiCorp [Member] | First Mortgage Bonds, 2.95% To 8.53%, Due 2021 To 2024 [Member] | Subsidiary Debt [Member] | Maximum [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 8.53% | 8.53% | ||
PacifiCorp [Member] | First Mortgage Bonds, 6.71%, Due 2026 [Member] | Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 100,000,000 | |||
Other long-term debt | 100,000,000 | 100,000,000 | ||
Stated interest rate | 6.71% | 6.71% | ||
PacifiCorp [Member] | First Mortgage Bonds, 5.90% To 7.70%, Due 2031 To 2034 [Member] | Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 500,000,000 | |||
Other long-term debt | 499,000,000 | 499,000,000 | ||
PacifiCorp [Member] | First Mortgage Bonds, 5.90% To 7.70%, Due 2031 To 2034 [Member] | Subsidiary Debt [Member] | Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 5.90% | 5.90% | ||
PacifiCorp [Member] | First Mortgage Bonds, 5.90% To 7.70%, Due 2031 To 2034 [Member] | Subsidiary Debt [Member] | Maximum [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 7.70% | 7.70% | ||
PacifiCorp [Member] | First Mortgage Bonds, 5.25% To 6.35%, Due 2035 To 2039 [Member] | Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 2,800,000,000 | |||
Other long-term debt | 2,792,000,000 | 2,791,000,000 | ||
PacifiCorp [Member] | First Mortgage Bonds, 5.25% To 6.35%, Due 2035 To 2039 [Member] | Subsidiary Debt [Member] | Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 5.25% | 5.25% | ||
PacifiCorp [Member] | First Mortgage Bonds, 5.25% To 6.35%, Due 2035 To 2039 [Member] | Subsidiary Debt [Member] | Maximum [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 6.35% | 6.35% | ||
PacifiCorp [Member] | First Mortgage Bonds, 4.10%, Due 2042 [Member] | Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 300,000,000 | |||
Other long-term debt | 299,000,000 | 299,000,000 | ||
Stated interest rate | 4.10% | 4.10% | ||
PacifiCorp [Member] | Tax-exempt bond obligations, variable rate series, due 2015 to 2025 [Member] | Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 223,000,000 | [1] | ||
Other long-term debt | 223,000,000 | [1] | 325,000,000 | [1] |
PacifiCorp [Member] | Tax-exempt bond obligations, variable rate series, due 2015 to 2024 [Member] | Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 221,000,000 | [1],[2] | ||
Other long-term debt | 221,000,000 | [1],[2] | 221,000,000 | [1],[2] |
PacifiCorp [Member] | Tax-exempt bond obligations, variable rate series, due 2016 to 2025 [Member] | Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 36,000,000 | [2] | ||
Other long-term debt | 36,000,000 | [2] | 51,000,000 | [2] |
PacifiCorp [Member] | Tax-exempt bond obligations, variable rate series, due 2017 to 2018 [Member] | Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 91,000,000 | |||
Other long-term debt | 91,000,000 | 0 | ||
PacifiCorp [Member] | Capital lease obligations, 8.75% to 15.678%, due through 2036 [Member] | Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 70,000,000 | |||
Other long-term debt | 70,000,000 | 105,000,000 | ||
PacifiCorp [Member] | Capital lease obligations, 8.75% to 15.678%, due through 2036 [Member] | Subsidiary Debt [Member] | Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 8.75% | 8.75% | ||
PacifiCorp [Member] | Capital lease obligations, 8.75% to 15.678%, due through 2036 [Member] | Subsidiary Debt [Member] | Maximum [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 15.68% | 15.68% | ||
Letters of credit supporting tax-exempt bond obligations [Member] | Letter of Credit [Member] | PacifiCorp [Member] | Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Letters of credit outstanding, amount | 451,000,000 | 559,000,000 | ||
PacifiCorp [Member] | ||||
Debt Instrument [Line Items] | ||||
Letters of credit outstanding, amount | $451,000,000 | $559,000,000 | ||
[1] | Supported by $451 million and $559 million of fully available letters of credit issued under committed bank arrangements as of DecemberB 31, 2014 and 2013, respectively. | |||
[2] | Secured by pledged first mortgage bonds registered to and held by the tax-exempt bond trustee generally with the same interest rates, maturity dates and redemption provisions as the tax-exempt bond obligations. |
Subsidiary_Debt_MidAmerican_Fu
Subsidiary Debt - MidAmerican Funding (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
Debt Instrument [Line Items] | ||||
Par value | $38,593,000,000 | |||
Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 26,924,000,000 | |||
Other long-term debt | 26,995,000,000 | 22,802,000,000 | ||
MidAmerican Funding [Member] | Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 4,396,000,000 | |||
Other long-term debt | 4,345,000,000 | 3,838,000,000 | ||
Eligible property subject to lien of mortgages | 12,000,000,000 | |||
MidAmerican Funding LLC [Member] | Subsidiary Debt [Member] | Senior Notes, 6.927%, due 2029 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 325,000,000 | |||
Other long-term debt | 289,000,000 | 288,000,000 | ||
MidAmerican Funding LLC [Member] | MidAmerican Funding [Member] | Subsidiary Debt [Member] | Senior Notes, 6.927%, due 2029 [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 6.93% | 6.93% | ||
MidAmerican Energy Company [Member] | Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 4,071,000,000 | |||
Other long-term debt | 4,056,000,000 | 3,550,000,000 | ||
MidAmerican Energy Company [Member] | Subsidiary Debt [Member] | Tax-exempt bond obligations, variable rate, due 2016-2038 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 195,000,000 | |||
Other long-term debt | 195,000,000 | 195,000,000 | ||
MidAmerican Energy Company [Member] | Subsidiary Debt [Member] | MEC First Mortgage Bonds, 2.40%, due 2019 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 500,000,000 | |||
Other long-term debt | 500,000,000 | 350,000,000 | ||
MidAmerican Energy Company [Member] | Subsidiary Debt [Member] | MEC First Mortgage Bonds, 3.70%, due 2023 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 250,000,000 | |||
Other long-term debt | 249,000,000 | 249,000,000 | ||
MidAmerican Energy Company [Member] | Subsidiary Debt [Member] | MEC First Mortgage Bonds, 3.50%, due 2024 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 300,000,000 | |||
Other long-term debt | 299,000,000 | 0 | ||
MidAmerican Energy Company [Member] | Subsidiary Debt [Member] | MEC First Mortgage Bonds, 4.80%, due 2043 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 350,000,000 | |||
Other long-term debt | 348,000,000 | 348,000,000 | ||
MidAmerican Energy Company [Member] | Subsidiary Debt [Member] | MEC First Mortgage Bonds, 4.40%, due 2044 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 400,000,000 | |||
Other long-term debt | 398,000,000 | 0 | ||
MidAmerican Energy Company [Member] | Subsidiary Debt [Member] | MEC Notes, 4.65% Series, due 2014 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 0 | |||
Other long-term debt | 0 | 350,000,000 | ||
MidAmerican Energy Company [Member] | Subsidiary Debt [Member] | MEC Notes, 5.95% Series, due 2017 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 250,000,000 | |||
Other long-term debt | 250,000,000 | 250,000,000 | ||
MidAmerican Energy Company [Member] | Subsidiary Debt [Member] | MEC Notes, 5.3% Series, due 2018 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 350,000,000 | |||
Other long-term debt | 350,000,000 | 349,000,000 | ||
MidAmerican Energy Company [Member] | Subsidiary Debt [Member] | MEC Notes, 6.75% Series, due 2031 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 400,000,000 | |||
Other long-term debt | 397,000,000 | 397,000,000 | ||
MidAmerican Energy Company [Member] | Subsidiary Debt [Member] | MEC Notes, 5.75% Series, due 2035 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 300,000,000 | |||
Other long-term debt | 300,000,000 | 300,000,000 | ||
MidAmerican Energy Company [Member] | Subsidiary Debt [Member] | MEC Notes, 5.8% Series, due 2036 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 350,000,000 | |||
Other long-term debt | 350,000,000 | 350,000,000 | ||
MidAmerican Energy Company [Member] | Subsidiary Debt [Member] | Turbine purchase obligation, 1.43%, due 2015 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 426,000,000 | [1] | ||
Other long-term debt | $420,000,000 | [1] | $412,000,000 | [1] |
MidAmerican Energy Company [Member] | MidAmerican Funding [Member] | Subsidiary Debt [Member] | Tax-exempt bond obligations, variable rate, due 2016-2038 [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable interest rate | 0.07% | 0.08% | ||
MidAmerican Energy Company [Member] | MidAmerican Funding [Member] | Subsidiary Debt [Member] | MEC First Mortgage Bonds, 2.40%, due 2019 [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 2.40% | 2.40% | ||
MidAmerican Energy Company [Member] | MidAmerican Funding [Member] | Subsidiary Debt [Member] | MEC First Mortgage Bonds, 3.70%, due 2023 [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 3.70% | 3.70% | ||
MidAmerican Energy Company [Member] | MidAmerican Funding [Member] | Subsidiary Debt [Member] | MEC First Mortgage Bonds, 3.50%, due 2024 [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 3.50% | 3.50% | ||
MidAmerican Energy Company [Member] | MidAmerican Funding [Member] | Subsidiary Debt [Member] | MEC First Mortgage Bonds, 4.80%, due 2043 [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 4.80% | 4.80% | ||
MidAmerican Energy Company [Member] | MidAmerican Funding [Member] | Subsidiary Debt [Member] | MEC First Mortgage Bonds, 4.40%, due 2044 [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 4.40% | 4.40% | ||
MidAmerican Energy Company [Member] | MidAmerican Funding [Member] | Subsidiary Debt [Member] | MEC Notes, 4.65% Series, due 2014 [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 0.00% | 4.65% | ||
MidAmerican Energy Company [Member] | MidAmerican Funding [Member] | Subsidiary Debt [Member] | MEC Notes, 5.95% Series, due 2017 [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 5.95% | 5.95% | ||
MidAmerican Energy Company [Member] | MidAmerican Funding [Member] | Subsidiary Debt [Member] | MEC Notes, 5.3% Series, due 2018 [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 5.30% | 5.30% | ||
MidAmerican Energy Company [Member] | MidAmerican Funding [Member] | Subsidiary Debt [Member] | MEC Notes, 6.75% Series, due 2031 [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 6.75% | 6.75% | ||
MidAmerican Energy Company [Member] | MidAmerican Funding [Member] | Subsidiary Debt [Member] | MEC Notes, 5.75% Series, due 2035 [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 5.75% | 5.75% | ||
MidAmerican Energy Company [Member] | MidAmerican Funding [Member] | Subsidiary Debt [Member] | MEC Notes, 5.8% Series, due 2036 [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 5.80% | 5.80% | ||
MidAmerican Energy Company [Member] | MidAmerican Funding [Member] | Subsidiary Debt [Member] | Turbine purchase obligation, 1.43%, due 2015 [Member] | ||||
Debt Instrument [Line Items] | ||||
Vendor Financing, Discount Rate Applied | 1.43% | 1.43% | ||
[1] | In conjunction with the construction of wind-powered generating facilities, MidAmerican Energy has accrued as property, plant and equipment, net amounts it is not contractually obligated to pay until the future. The amounts ultimately payable were discounted and recognized upon delivery of the equipment as long-term debt. The discount is being amortized as interest expense over the period until payment is due using the effective interest method. |
Subsidiary_Debt_NV_Energy_Deta
Subsidiary Debt - NV Energy (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
Debt Instrument [Line Items] | ||||
Par value | $38,593,000,000 | |||
Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 26,924,000,000 | |||
Other long-term debt | 26,995,000,000 | 22,802,000,000 | ||
NV Energy [Member] | Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 5,093,000,000 | |||
Other long-term debt | 5,138,000,000 | 5,296,000,000 | ||
NV Energy [Member] | NV Energy [Member] | Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 315,000,000 | |||
Other long-term debt | 362,000,000 | 564,000,000 | ||
NV Energy [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Variable rate term loan due 2014 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 0 | [1] | ||
Other long-term debt | 0 | [1] | 195,000,000 | [1] |
Variable interest rate | 1.92% | |||
Interest rate swaps average fixed rate | 2.56% | |||
Stated interest rate | 0.00% | |||
NV Energy [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Senior Notes, 6.250%, due 2020 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 315,000,000 | |||
Other long-term debt | 362,000,000 | 369,000,000 | ||
Stated interest rate | 6.25% | 6.25% | ||
Nevada Power [Member] | NV Energy [Member] | Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 3,586,000,000 | |||
Other long-term debt | 3,576,000,000 | 3,532,000,000 | ||
Eligible property subject to lien of mortgages | 3,500,000,000 | |||
Nevada Power [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Mortgage Securities, 5.875%, Series L due 2015 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 250,000,000 | |||
Other long-term debt | 250,000,000 | 250,000,000 | ||
Stated interest rate | 5.88% | 5.88% | ||
Nevada Power [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Mortgage Securities, 5.950%, Series M due 2016 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 210,000,000 | |||
Other long-term debt | 210,000,000 | 210,000,000 | ||
Stated interest rate | 5.95% | 5.95% | ||
Nevada Power [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Mortgage Securities, 6.500%, Series O due 2018 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 325,000,000 | |||
Other long-term debt | 323,000,000 | 324,000,000 | ||
Stated interest rate | 6.50% | 6.50% | ||
Nevada Power [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Mortgage Securities, 6.500%, Series S due 2018 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 499,000,000 | |||
Other long-term debt | 498,000,000 | 499,000,000 | ||
Stated interest rate | 6.50% | 6.50% | ||
Nevada Power [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Mortgage Securities, 7.125%, Series V due 2019 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 500,000,000 | |||
Other long-term debt | 501,000,000 | 501,000,000 | ||
Stated interest rate | 7.13% | 7.13% | ||
Nevada Power [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Mortgage Securities, 6.650%, Series N due 2036 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 367,000,000 | |||
Other long-term debt | 361,000,000 | 363,000,000 | ||
Stated interest rate | 6.65% | 6.65% | ||
Nevada Power [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Mortgage Securities, 6.750%, Series R due 2037 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 349,000,000 | |||
Other long-term debt | 348,000,000 | 349,000,000 | ||
Stated interest rate | 6.75% | 6.75% | ||
Nevada Power [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Mortgage Securities, 5.375%, Series X due 2040 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 250,000,000 | |||
Other long-term debt | 249,000,000 | 249,000,000 | ||
Stated interest rate | 5.38% | 5.38% | ||
Nevada Power [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Mortgage Securities, 5.450%, Series Y due 2041 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 250,000,000 | |||
Other long-term debt | 250,000,000 | 250,000,000 | ||
Stated interest rate | 5.45% | 5.45% | ||
Nevada Power [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Pollution Control Revenue Bonds, 0.455% to 0.464%, Series 2006A due 2032 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 38,000,000 | |||
Other long-term debt | 38,000,000 | 38,000,000 | ||
Nevada Power [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Pollution Control Revenue Bonds, 0.455% to 0.464%, Series 2006 due 2036 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 38,000,000 | |||
Other long-term debt | 38,000,000 | 38,000,000 | ||
Nevada Power [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Capital lease obligations, 2.75% to 11.60%, due through 2054 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 510,000,000 | |||
Other long-term debt | 510,000,000 | 461,000,000 | ||
Nevada Power [Member] | Minimum [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Pollution Control Revenue Bonds, 0.455% to 0.464%, Series 2006A due 2032 [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable interest rate | 0.46% | 0.45% | ||
Nevada Power [Member] | Minimum [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Pollution Control Revenue Bonds, 0.455% to 0.464%, Series 2006 due 2036 [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable interest rate | 0.46% | 0.45% | ||
Nevada Power [Member] | Minimum [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Capital lease obligations, 2.75% to 11.60%, due through 2054 [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable interest rate | 2.75% | 2.75% | ||
Nevada Power [Member] | Maximum [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Pollution Control Revenue Bonds, 0.455% to 0.464%, Series 2006A due 2032 [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable interest rate | 0.46% | 0.46% | ||
Nevada Power [Member] | Maximum [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Pollution Control Revenue Bonds, 0.455% to 0.464%, Series 2006 due 2036 [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable interest rate | 0.46% | 0.46% | ||
Nevada Power [Member] | Maximum [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Capital lease obligations, 2.75% to 11.60%, due through 2054 [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable interest rate | 11.60% | 11.60% | ||
Sierra Pacific [Member] | NV Energy [Member] | Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 1,192,000,000 | |||
Other long-term debt | 1,200,000,000 | 1,200,000,000 | ||
Eligible property subject to lien of mortgages | 1,500,000,000 | |||
Sierra Pacific [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Mortgage securities, 6.000%, Series M due 2016 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 450,000,000 | |||
Other long-term debt | 452,000,000 | 453,000,000 | ||
Stated interest rate | 6.00% | 6.00% | ||
Sierra Pacific [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Mortgage securities, 3.375%, Series T due 2023 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 250,000,000 | |||
Other long-term debt | 250,000,000 | 250,000,000 | ||
Stated interest rate | 3.38% | 3.38% | ||
Sierra Pacific [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Mortgage securities, 6.750%, Series P due 2037 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 252,000,000 | |||
Other long-term debt | 258,000,000 | 259,000,000 | ||
Stated interest rate | 6.75% | 6.75% | ||
Sierra Pacific [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Pollution Control Revenue Bonds, 0.464% to 0.466%, Series 2006A due 2031 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 58,000,000 | |||
Other long-term debt | 58,000,000 | 58,000,000 | ||
Sierra Pacific [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Pollution Control Revenue Bonds, 0.464% to 0.466%, Series 2006B due 2036 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 75,000,000 | |||
Other long-term debt | 75,000,000 | 75,000,000 | ||
Sierra Pacific [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Pollution Control Revenue Bonds, 0.464% to 0.466%, Series 2006C due 2036 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 81,000,000 | |||
Other long-term debt | 81,000,000 | 81,000,000 | ||
Sierra Pacific [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Capital lease obligations, 2.7% to 8.814%, due through 2054 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 26,000,000 | |||
Other long-term debt | $26,000,000 | $24,000,000 | ||
Sierra Pacific [Member] | Minimum [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Pollution Control Revenue Bonds, 0.464% to 0.466%, Series 2006A due 2031 [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable interest rate | 0.46% | 0.46% | ||
Sierra Pacific [Member] | Minimum [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Pollution Control Revenue Bonds, 0.464% to 0.466%, Series 2006B due 2036 [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable interest rate | 0.46% | 0.46% | ||
Sierra Pacific [Member] | Minimum [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Pollution Control Revenue Bonds, 0.464% to 0.466%, Series 2006C due 2036 [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable interest rate | 0.46% | 0.46% | ||
Sierra Pacific [Member] | Minimum [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Capital lease obligations, 2.7% to 8.814%, due through 2054 [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable interest rate | 2.70% | 2.70% | ||
Sierra Pacific [Member] | Maximum [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Pollution Control Revenue Bonds, 0.464% to 0.466%, Series 2006A due 2031 [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable interest rate | 0.47% | 0.46% | ||
Sierra Pacific [Member] | Maximum [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Pollution Control Revenue Bonds, 0.464% to 0.466%, Series 2006B due 2036 [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable interest rate | 0.47% | 0.46% | ||
Sierra Pacific [Member] | Maximum [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Pollution Control Revenue Bonds, 0.464% to 0.466%, Series 2006C due 2036 [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable interest rate | 0.47% | 0.46% | ||
Sierra Pacific [Member] | Maximum [Member] | NV Energy [Member] | Subsidiary Debt [Member] | Capital lease obligations, 2.7% to 8.814%, due through 2054 [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable interest rate | 8.81% | 8.81% | ||
[1] | The term loan had a variable interest rate based on LIBOR plus a spread that varied during the term of the agreement. The variable interest rate as of DecemberB 31, 2013 was 1.92%. The Company had an interest rate swap that fixed the interest rate at 2.56% as of DecemberB 31, 2013. |
Subsidiary_Debt_Northern_Power
Subsidiary Debt - Northern Powergrid (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | |
In Millions, unless otherwise specified | |||
Debt Instrument [Line Items] | |||
Par value | $38,593 | ||
Subsidiary Debt [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 26,924 | ||
Other long-term debt | 26,995 | 22,802 | |
Northern Powergrid [Member] | Subsidiary Debt [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 2,267 | [1] | |
Other long-term debt | 2,334 | 2,487 | |
Northern Powergrid [Member] | Subsidiary Debt [Member] | Bonds, 8.875%, due 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 156 | [1] | |
Other long-term debt | 174 | 189 | |
Stated interest rate | 8.88% | 8.88% | |
Northern Powergrid [Member] | Subsidiary Debt [Member] | Bonds, 9.25%, due 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 311 | [1] | |
Other long-term debt | 339 | 366 | |
Stated interest rate | 9.25% | 9.25% | |
Northern Powergrid [Member] | Subsidiary Debt [Member] | European Investment Bank loans, 3.901% to 4.586%, due 2018 to 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 420 | [1] | |
Other long-term debt | 420 | 444 | |
Northern Powergrid [Member] | Subsidiary Debt [Member] | European Investment Bank loans, 3.901% to 4.586%, due 2018 to 2022 [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Stated interest rate | 3.90% | 3.90% | |
Northern Powergrid [Member] | Subsidiary Debt [Member] | European Investment Bank loans, 3.901% to 4.586%, due 2018 to 2022 [Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Stated interest rate | 4.59% | 4.59% | |
Northern Powergrid [Member] | Subsidiary Debt [Member] | Bonds, 7.25%, due 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 311 | [1] | |
Other long-term debt | 328 | 349 | |
Stated interest rate | 7.25% | 7.25% | |
Northern Powergrid [Member] | Subsidiary Debt [Member] | Bonds, 7.25%, due 2028 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 290 | [1] | |
Other long-term debt | 299 | 319 | |
Stated interest rate | 7.25% | 7.25% | |
Northern Powergrid [Member] | Subsidiary Debt [Member] | Bonds, 4.375%, due 2032 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 234 | [1] | |
Other long-term debt | 231 | 245 | |
Stated interest rate | 4.38% | 4.38% | |
Northern Powergrid [Member] | Subsidiary Debt [Member] | Bonds, 5.125%, due 2035 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 311 | [1] | |
Other long-term debt | 310 | 328 | |
Stated interest rate | 5.13% | 5.13% | |
Northern Powergrid [Member] | Subsidiary Debt [Member] | Bonds, 5.125%, due 2035 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 234 | [1] | |
Other long-term debt | $233 | $247 | |
Stated interest rate | 5.13% | 5.13% | |
[1] | The par values for these debt instruments are denominated in sterling. |
Subsidiary_Debt_BHE_Pipeline_G
Subsidiary Debt - BHE Pipeline Group (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ||
Par value | $38,593 | |
Subsidiary Debt [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 26,924 | |
Other long-term debt | 26,995 | 22,802 |
BHE Pipeline Group [Member] | Subsidiary Debt [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 1,367 | |
Other long-term debt | 1,366 | 1,448 |
Kern River [Member] | Subsidiary Debt [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 467 | |
Other long-term debt | 467 | 548 |
Kern River [Member] | Subsidiary Debt [Member] | Senior Notes, 6.676%, due 2016 [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 167 | |
Other long-term debt | 167 | 197 |
Kern River [Member] | Subsidiary Debt [Member] | Senior Notes, 4.893%, due 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 300 | |
Other long-term debt | 300 | 351 |
Northern Natural Gas [Member] | Subsidiary Debt [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 900 | |
Other long-term debt | 899 | 900 |
Northern Natural Gas [Member] | Subsidiary Debt [Member] | Senior Notes, 5.125%, due 2015 [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 100 | |
Other long-term debt | 100 | 100 |
Northern Natural Gas [Member] | Subsidiary Debt [Member] | Senior Notes, 5.75%, due 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 200 | |
Other long-term debt | 200 | 200 |
Northern Natural Gas [Member] | Subsidiary Debt [Member] | Senior Notes, 4.25%, due 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 200 | |
Other long-term debt | 200 | 200 |
Northern Natural Gas [Member] | Subsidiary Debt [Member] | Senior Bonds, 5.8%, due 2037 [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 150 | |
Other long-term debt | 150 | 150 |
Northern Natural Gas [Member] | Subsidiary Debt [Member] | Senior Bonds, 4.1%, due 2042 [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 250 | |
Other long-term debt | 249 | 250 |
Kern River [Member] | BHE Pipeline Group [Member] | Subsidiary Debt [Member] | Senior Notes, 6.676%, due 2016 [Member] | ||
Debt Instrument [Line Items] | ||
Stated interest rate | 6.68% | 6.68% |
Kern River [Member] | BHE Pipeline Group [Member] | Subsidiary Debt [Member] | Senior Notes, 4.893%, due 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Stated interest rate | 4.89% | 4.89% |
Kern River [Member] | Letter of Credit [Member] | BHE Pipeline Group [Member] | ||
Debt Instrument [Line Items] | ||
Letters of credit outstanding, amount | $56 | $56 |
Northern Natural Gas [Member] | BHE Pipeline Group [Member] | Subsidiary Debt [Member] | Senior Notes, 5.125%, due 2015 [Member] | ||
Debt Instrument [Line Items] | ||
Stated interest rate | 5.13% | 5.13% |
Northern Natural Gas [Member] | BHE Pipeline Group [Member] | Subsidiary Debt [Member] | Senior Notes, 5.75%, due 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Stated interest rate | 5.75% | 5.75% |
Northern Natural Gas [Member] | BHE Pipeline Group [Member] | Subsidiary Debt [Member] | Senior Notes, 4.25%, due 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Stated interest rate | 4.25% | 4.25% |
Northern Natural Gas [Member] | BHE Pipeline Group [Member] | Subsidiary Debt [Member] | Senior Bonds, 5.8%, due 2037 [Member] | ||
Debt Instrument [Line Items] | ||
Stated interest rate | 5.80% | 5.80% |
Northern Natural Gas [Member] | BHE Pipeline Group [Member] | Subsidiary Debt [Member] | Senior Bonds, 4.1%, due 2042 [Member] | ||
Debt Instrument [Line Items] | ||
Stated interest rate | 4.10% | 4.10% |
Subsidiary_Debt_Subsidiary_Deb
Subsidiary Debt Subsidiary Debt - AltaLink (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | |
In Millions, unless otherwise specified | |||
Debt Instrument [Line Items] | |||
Par value | $38,593 | ||
Subsidiary Debt [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 26,924 | ||
Other long-term debt | 26,995 | 22,802 | |
ALP Investments [Member] | Subsidiary Debt [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 472 | [1] | |
Other long-term debt | 494 | 0 | |
ALP Investments [Member] | Subsidiary Debt [Member] | Series 09-1 Senior Bonds, 5.207%, due 2016 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 128 | [1] | |
Other long-term debt | 136 | 0 | |
Stated interest rate | 5.21% | 0.00% | |
ALP Investments [Member] | Subsidiary Debt [Member] | Series 12-1 Senior Bonds, 3.674%, due 2019 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 172 | [1] | |
Other long-term debt | 181 | 0 | |
Stated interest rate | 3.67% | 0.00% | |
ALP Investments [Member] | Subsidiary Debt [Member] | Series 13-1 Senior Bonds, 3.265%, due 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 172 | [1] | |
Other long-term debt | 177 | 0 | |
Stated interest rate | 3.27% | 0.00% | |
AltaLink Holdings [Member] | Subsidiary Debt [Member] | Senior debentures, 10.5%, due 2015 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 78 | [1] | |
Other long-term debt | 78 | 0 | |
Stated interest rate | 10.50% | 0.00% | |
ALP [Member] | Subsidiary Debt [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 3,185 | [1] | |
Other long-term debt | 3,184 | 0 | |
ALP [Member] | Subsidiary Debt [Member] | Series 2008-1 Notes , 5.243%, due 2018 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 172 | [1] | |
Other long-term debt | 171 | 0 | |
Stated interest rate | 5.24% | 0.00% | |
ALP [Member] | Subsidiary Debt [Member] | Series 2013-2 Notes, 3.621%, due 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 108 | [1] | |
Other long-term debt | 108 | 0 | |
Stated interest rate | 3.62% | 0.00% | |
ALP [Member] | Subsidiary Debt [Member] | Series 2012-2 Notes, 2.978%, due 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 237 | [1] | |
Other long-term debt | 237 | 0 | |
Stated interest rate | 2.98% | 0.00% | |
ALP [Member] | Subsidiary Debt [Member] | Series 2013-4 Notes, 3.668%, due 2023 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 430 | [1] | |
Other long-term debt | 430 | 0 | |
Stated interest rate | 3.67% | 0.00% | |
ALP [Member] | Subsidiary Debt [Member] | Series 2014-1 Notes, 3.399%, due 2024 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 301 | [1] | |
Other long-term debt | 301 | 0 | |
Stated interest rate | 3.40% | 0.00% | |
ALP [Member] | Subsidiary Debt [Member] | Series 2006-1 Notes, 5.249%, due 2036 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 129 | [1] | |
Other long-term debt | 129 | 0 | |
Stated interest rate | 5.25% | 0.00% | |
ALP [Member] | Subsidiary Debt [Member] | Series 2010-1 Notes, 5.381%, due 2040 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 108 | [1] | |
Other long-term debt | 108 | 0 | |
Stated interest rate | 5.38% | 0.00% | |
ALP [Member] | Subsidiary Debt [Member] | Series 2010-2 Notes, 4.872%, due 2040 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 129 | [1] | |
Other long-term debt | 129 | 0 | |
Stated interest rate | 4.87% | 0.00% | |
ALP [Member] | Subsidiary Debt [Member] | Series 2011-1 Notes, 4.462%, due 2041 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 237 | [1] | |
Other long-term debt | 237 | 0 | |
Stated interest rate | 4.46% | 0.00% | |
ALP [Member] | Subsidiary Debt [Member] | Series 2012-1 Notes, 3.99%, due 2042 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 452 | [1] | |
Other long-term debt | 452 | 0 | |
Stated interest rate | 3.99% | 0.00% | |
ALP [Member] | Subsidiary Debt [Member] | Series 2013-3 Notes, 4.922%, due 2043 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 301 | [1] | |
Other long-term debt | 301 | 0 | |
Stated interest rate | 4.92% | 0.00% | |
ALP [Member] | Subsidiary Debt [Member] | Series 2014-3 Notes, 4.054%, due 2044 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 254 | [1] | |
Other long-term debt | 254 | 0 | |
Stated interest rate | 4.05% | 0.00% | |
ALP [Member] | Subsidiary Debt [Member] | Series 2013-1 Notes, 4.446%, due 2053 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 215 | [1] | |
Other long-term debt | 215 | 0 | |
Stated interest rate | 4.45% | 0.00% | |
ALP [Member] | Subsidiary Debt [Member] | Series 2014-2 Notes, 4.274%, due 2064 [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 112 | [1] | |
Other long-term debt | 112 | 0 | |
Stated interest rate | 4.27% | 0.00% | |
BHE Transmission [Member] | Subsidiary Debt [Member] | |||
Debt Instrument [Line Items] | |||
Par value | 3,735 | [1] | |
Other long-term debt | $3,756 | $0 | |
[1] | Amortizes quarterly or semiannually. |
Subsidiary_Debt_MidAmerican_Re
Subsidiary Debt - MidAmerican Renewables (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Millions, unless otherwise specified | ||||
Debt Instrument [Line Items] | ||||
Par value | $38,593 | |||
Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 26,924 | |||
Other long-term debt | 26,995 | 22,802 | ||
BHE Renewables [Member] | Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 2,964 | |||
Other long-term debt | 2,967 | 2,800 | ||
BHE Renewables [Member] | Subsidiary Debt [Member] | CE Generation Bonds 7.416% due 2018 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 123 | [1] | ||
Other long-term debt | 125 | [1] | 0 | [1] |
Stated interest rate | 7.42% | 0.00% | ||
BHE Renewables [Member] | Subsidiary Debt [Member] | Salton Sea Funding Corporation Bonds 7.475% due 2018 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 69 | [1] | ||
Other long-term debt | 71 | [1] | 0 | [1] |
Stated interest rate | 7.48% | 0.00% | ||
BHE Renewables [Member] | Subsidiary Debt [Member] | Cordova Funding Corporation Bonds, 8.48% to 9.07%, due 2019 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 126 | [1] | ||
Other long-term debt | 125 | [1] | 139 | [1] |
BHE Renewables [Member] | Subsidiary Debt [Member] | Cordova Funding Corporation Bonds, 8.48% to 9.07%, due 2019 [Member] | Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 8.48% | 8.48% | ||
BHE Renewables [Member] | Subsidiary Debt [Member] | Cordova Funding Corporation Bonds, 8.48% to 9.07%, due 2019 [Member] | Maximum [Member] | ||||
Debt Instrument [Line Items] | ||||
Stated interest rate | 9.07% | 9.07% | ||
BHE Renewables [Member] | Subsidiary Debt [Member] | Bishop Hill Holdings Senior Notes, 5.125%, due 2032 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 109 | [1] | ||
Other long-term debt | 109 | [1] | 114 | [1] |
Stated interest rate | 5.13% | 5.13% | ||
BHE Renewables [Member] | Subsidiary Debt [Member] | Solar Star Funding Senior Notes, 5.375%, due 2035 | ||||
Debt Instrument [Line Items] | ||||
Par value | 1,000 | [1] | ||
Other long-term debt | 1,000 | [1] | 1,000 | [1] |
Stated interest rate | 5.38% | 5.38% | ||
BHE Renewables [Member] | Subsidiary Debt [Member] | Topaz Solar Farms Senior Notes, 5.75%, due 2039 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 850 | [1] | ||
Other long-term debt | 850 | [1] | 850 | [1] |
Stated interest rate | 5.75% | 5.75% | ||
BHE Renewables [Member] | Subsidiary Debt [Member] | Topaz Solar Farms Senior Notes, 4.875%, due 2039 | ||||
Debt Instrument [Line Items] | ||||
Par value | 250 | [1] | ||
Other long-term debt | 250 | [1] | 250 | [1] |
Stated interest rate | 4.88% | 4.88% | ||
BHE Renewables [Member] | Subsidiary Debt [Member] | Other debt obligations [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 27 | [1] | ||
Other long-term debt | 27 | [1] | 30 | [1] |
BHE Renewables [Member] | Subsidiary Debt [Member] | Pinyon Pines I and II Term Loans, due 2019 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 401 | [1],[2] | ||
Other long-term debt | 401 | [1],[2] | 417 | [1],[2] |
Variable interest rate | 1.88% | 2.87% | ||
Derivative, interest rate swap, portion of debt fixed | 75.00% | |||
Interest rate swaps average fixed rate | 3.55% | 4.53% | ||
BHE Renewables [Member] | Subsidiary Debt [Member] | Wailuku Special Purpose Revenue Bonds, 0.09% due 2021 [Member] | ||||
Debt Instrument [Line Items] | ||||
Par value | 9 | [1] | ||
Other long-term debt | $9 | [1] | $0 | [1] |
Stated interest rate | 0.09% | 0.00% | ||
[1] | Amortizes quarterly or semiannually. | |||
[2] | The term loans have variable interest rates based on LIBOR plus a spread that varies during the term of the agreement. The weighted average variable interest rate as of DecemberB 31, 2014 and 2013 was 1.88% and 2.87%, respectively. The Company has entered into interest rate swaps that fix the interest rate on 75% of the outstanding debt. The weighted average fixed interest rate for the 75% portion is fixed at 3.55% and 4.53% as of DecemberB 31, 2014 and 2013, respectively. |
Subsidiary_Debt_Maturity_Sched
Subsidiary Debt - Maturity Schedule (Details) (USD $) | Dec. 31, 2014 | |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | $1,232 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 1,266 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 962 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 3,521 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 2,069 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 29,543 | |
Par value | 38,593 | |
Subsidiary Debt [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 26,924 | |
PacifiCorp [Member] | Subsidiary Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 157 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 71 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 58 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 589 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 353 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 5,874 | |
Par value | 7,102 | |
MidAmerican Funding [Member] | Subsidiary Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 426 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 34 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 254 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 350 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 500 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 2,832 | |
Par value | 4,396 | |
NV Energy [Member] | Subsidiary Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 265 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 673 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 16 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 840 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 519 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 2,780 | |
Par value | 5,093 | |
Northern Powergrid [Member] | Subsidiary Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 62 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 62 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 2,143 | |
Par value | 2,267 | [1] |
BHE Pipeline Group [Member] | Subsidiary Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 185 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 191 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 62 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 329 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 0 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 600 | |
Par value | 1,367 | |
BHE Transmission [Member] | Subsidiary Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 78 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 129 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 172 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 172 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 3,184 | |
Par value | 3,735 | [2] |
BHE Renewables [Member] | Subsidiary Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 121 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 168 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 172 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 179 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 463 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 1,861 | |
Par value | 2,964 | |
BHE [Member] | Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 400 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 1,000 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 0 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 6,475 | |
Par value | 7,875 | |
BHE [Member] | Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 0 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 3,794 | |
Par value | $3,794 | |
[1] | The par values for these debt instruments are denominated in sterling. | |
[2] | Amortizes quarterly or semiannually. |
Income_Taxes_Components_of_Inc
Income Taxes Components of Income Tax Expense (Benefit) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | |||
Current federal | ($1,872) | ($985) | ($1,314) |
Current state | -3 | -2 | -67 |
Current foreign | 129 | 121 | 121 |
Total current income tax expense (benefit) | -1,746 | -866 | -1,260 |
Deferred federal | 2,296 | 1,306 | 1,475 |
Deferred state | 37 | -247 | -11 |
Deferred foreign | 11 | -59 | -51 |
Total deferred income tax expense (benefit) | 2,344 | 1,000 | 1,413 |
Investment tax credits | -9 | -4 | -5 |
Total income tax expense (benefit) | $589 | $130 | $148 |
Income_Taxes_Reconciliation_of
Income Taxes Reconciliation of Effective Income Tax Rate (Details) (USD $) | 12 Months Ended | 1 Months Ended | ||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 31, 2012 | Jul. 31, 2013 | Jul. 31, 2011 |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||||||
Federal statutory income tax rate | 35.00% | 35.00% | 35.00% | |||
Income tax credits | -10.00% | -14.00% | -14.00% | |||
State income tax, net of federal income tax benefit | 1.00% | -9.00% | -3.00% | |||
Income tax effect of foreign income | -3.00% | -6.00% | -7.00% | |||
Equity income (loss) | -2.00% | 1.00% | -2.00% | |||
Other, net | -2.00% | 2.00% | -4.00% | |||
Effective income tax rate | 23.00% | 7.00% | 9.00% | |||
Production Tax Credit Carryforwards [Abstract] | ||||||
Years Eligible For Renewable Energy Production Tax Credit | 10 years | |||||
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||||||
Deferred state | ($37) | $247 | $11 | |||
Related Party Tax Expense [Abstract] | ||||||
Income taxes receivable from Berkshire Hathaway | 1,100 | 25 | ||||
United Kingdom | ||||||
United Kingdom Corporate Income Tax Rate Change [Abstract] | ||||||
Income Tax Reconciliation, Change in Enacted Tax Rate | 54 | 38 | ||||
Corporate Income Tax Rate Enacted July 2012, Effective April 1, 2013 [Member] | United Kingdom | ||||||
United Kingdom Corporate Income Tax Rate Change [Abstract] | ||||||
Corporate Income Tax Rate, Foreign | 23.00% | |||||
Corporate Income Tax Rate Enacted July 2013, Effective April 1, 2014 [Member] | United Kingdom | ||||||
United Kingdom Corporate Income Tax Rate Change [Abstract] | ||||||
Corporate Income Tax Rate, Foreign | 21.00% | |||||
Corporate Income Tax Rate Enacted July 2013, Effective April 1, 2015 [Member] | United Kingdom | ||||||
United Kingdom Corporate Income Tax Rate Change [Abstract] | ||||||
Corporate Income Tax Rate, Foreign | 20.00% | |||||
Corporate Income Tax Rate Enacted July 2011, Effective April 1, 2012 [Member] | United Kingdom | ||||||
United Kingdom Corporate Income Tax Rate Change [Abstract] | ||||||
Corporate Income Tax Rate, Foreign | 25.00% | |||||
Corporate Income Tax Rate Enacted July 2012, Effective April 1, 2012 [Member] | United Kingdom | ||||||
United Kingdom Corporate Income Tax Rate Change [Abstract] | ||||||
Corporate Income Tax Rate, Foreign | 24.00% | |||||
NV Energy Transaction [Member] | ||||||
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||||||
Deferred state | $161 |
Income_Taxes_Components_of_Net
Income Taxes Components of Net Deferred Income Tax Liability (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Deferred income tax assets: [Abstract] | ||
Federal and state carryforwards | $781 | $1,001 |
Regulatory liabilities | 812 | 825 |
AROs | 249 | 234 |
Employee benefits | 187 | 75 |
Derivative contracts | 62 | 28 |
Other | 781 | 740 |
Total deferred income tax assets | 2,872 | 2,903 |
Valuation allowances | -23 | -29 |
Total deferred income tax assets, net | 2,849 | 2,874 |
Deferred income tax liabilities: [ Abstract] | ||
Property-related items | -11,989 | -10,727 |
Regulatory assets | -1,374 | -1,047 |
Investments | -699 | -767 |
Other | -301 | -287 |
Total deferred income tax liabilities | -14,363 | -12,828 |
Net deferred income tax liability | -11,514 | -9,954 |
Reflected as: [Abstract] | ||
Current assets - other | 291 | 211 |
Current liabilities - other | -3 | -7 |
Deferred income taxes | ($11,802) | ($10,158) |
Income_Taxes_Summary_of_Operat
Income Taxes Summary of Operating Loss Carryforwards (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | |
Operating Loss Carryforwards [Line Items] | ||
Foreign carryforwards | $74 | |
Deferred Tax Assets, Foreign Tax Credit, Years To Expiration | 10 years | |
Federal [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Net operating loss carryforwards | 409 | [1] |
Deferred income taxes on net operating loss carryforwards | 155 | |
Foreign and other tax credits | 122 | [2] |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Net operating loss carryforwards | 8,629 | [1] |
Deferred income taxes on net operating loss carryforwards | 474 | |
Foreign and other tax credits | $30 | [2] |
[1] | The federal net operating loss carry forwards relate principally to net operating loss carryforwards of NV Energy generated prior to BHE's ownership. | |
[2] | Includes $74 million of deferred foreign tax credits associated with the federal income tax on unremitted tax earnings and profit pools that will begin to be creditable and expire 10 years after the date the foreign earnings are repatriated through actual or deemed dividends. As of DecemberB 31, 2014 the statute of limitation had not begun on the foreign tax credit carryforwards. |
Income_Taxes_Net_Unrecognized_
Income Taxes Net Unrecognized Tax Benefits (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Beginning balance | $211 | $223 |
Additions based on tax positions related to the current year | 11 | 18 |
Additions for tax positions of prior years | 48 | 80 |
Reductions for tax positions of prior years | -50 | -106 |
Statute of limitations | -1 | 4 |
Settlements | 0 | -10 |
Interest and penalties | 1 | 2 |
Ending balance | 220 | 211 |
Unrecognized tax benefits that would impact effective tax rate | 188 | 179 |
Unrecognized tax benefits that would not impact the effective tax rate | $32 | $32 |
Employee_Benefit_Plans_Net_Per
Employee Benefit Plans - Net Periodic Benefit Cost (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Domestic Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service Cost | $36 | $24 | $25 |
Interest Cost | 131 | 87 | 98 |
Expected Return on Plan Assets | -164 | -119 | -119 |
Net Amortization | 44 | 58 | 37 |
Net Periodic Benefit Cost | 47 | 50 | 41 |
Domestic Other Postretirement Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service Cost | 14 | 14 | 11 |
Interest Cost | 46 | 33 | 36 |
Expected Return on Plan Assets | -53 | -44 | -43 |
Net Amortization | -3 | 6 | 1 |
Net Periodic Benefit Cost | 4 | 9 | 5 |
UK Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service Cost | 24 | 22 | 19 |
Interest Cost | 95 | 85 | 85 |
Expected Return on Plan Assets | -124 | -101 | -104 |
Net Amortization | 51 | 53 | 43 |
Net Periodic Benefit Cost | $46 | $59 | $43 |
Employee_Benefit_Plans_Funded_
Employee Benefit Plans - Funded Status (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Domestic Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plans with Benefit Obligations in Excess of Plan Assets, Aggregate Fair Value of Plan Assets | $1,987 | $1,171 | |
Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets, Beginning of year | 2,711 | 1,655 | |
Defined Benefit Plan, Plan Assets Acquired | 0 | 818 | |
Contributions by Employer | 37 | 71 | |
Participant contributions | 0 | 0 | |
Actual Return on Plan Assets | 188 | 359 | |
Benefits Paid | -218 | -192 | |
Fair Value of Plan Assets, End of year | 2,718 | 2,711 | 1,655 |
Change in Benefit Obligation [Roll Forward] | |||
Benefit Obligation, beginning of year | 2,821 | 2,237 | |
Defined Benefit Plan, Benefit Obligation, Acquisitions | 0 | 823 | |
Service Cost | 36 | 24 | 25 |
Interest Cost | 131 | 87 | 98 |
Actuarial Loss | 349 | -158 | |
Benefits Paid | -218 | -192 | |
Benefit Obligation, end of year | 3,119 | 2,821 | 2,237 |
Accumulated Benefit Obligation | 3,086 | 2,747 | |
Defined Benefit Plan, Funded Status of Plan [Abstract] | |||
Funded status of plan | -401 | -110 | |
Other assets | 12 | 98 | |
Other current liabilities | -14 | -19 | |
Other long-term liabilities | -399 | -189 | |
Amounts recognized on balance sheet | -401 | -110 | |
Supplemental Employee Retirement Plans [Abstract] | |||
Defined Benefit Plan, Plans with Benefit Obligations in Excess of Plan Assets, Aggregate Benefit Obligation | 2,401 | 1,379 | |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Accumulated Benefit Obligation | 2,380 | 1,374 | |
Domestic Other Postretirement Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plans with Benefit Obligations in Excess of Plan Assets, Aggregate Fair Value of Plan Assets | 598 | 596 | |
Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets, Beginning of year | 852 | 650 | |
Defined Benefit Plan, Plan Assets Acquired | 0 | 110 | |
Contributions by Employer | 2 | 8 | |
Participant contributions | 11 | 8 | |
Actual Return on Plan Assets | 54 | 127 | |
Benefits Paid | -61 | -51 | |
Fair Value of Plan Assets, End of year | 858 | 852 | 650 |
Change in Benefit Obligation [Roll Forward] | |||
Benefit Obligation, beginning of year | 987 | 845 | |
Defined Benefit Plan, Benefit Obligation, Acquisitions | 0 | 154 | |
Service Cost | 14 | 14 | 11 |
Interest Cost | 46 | 33 | 36 |
Actuarial Loss | -61 | -16 | |
Benefits Paid | -61 | -51 | |
Benefit Obligation, end of year | 936 | 987 | 845 |
Defined Benefit Plan, Funded Status of Plan [Abstract] | |||
Funded status of plan | -78 | -135 | |
Other assets | 10 | 21 | |
Other current liabilities | 0 | 0 | |
Other long-term liabilities | -88 | -156 | |
Amounts recognized on balance sheet | -78 | -135 | |
Supplemental Employee Retirement Plans [Abstract] | |||
Defined Benefit Plan, Plans with Benefit Obligations in Excess of Plan Assets, Aggregate Benefit Obligation | 686 | 751 | |
Domestic Other Postretirement Plans [Member] | PacifiCorp [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Amount To Be Transferred | 150 | ||
UK Pension Plans [Member] | |||
Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets, Beginning of year | 2,177 | 1,996 | |
Contributions by Employer | 89 | 79 | |
Participant contributions | 2 | 3 | |
Actual Return on Plan Assets | 337 | 138 | |
Benefits Paid | -92 | -83 | |
Foreign Currency Exchange Rate Changes | -145 | 44 | |
Fair Value of Plan Assets, End of year | 2,368 | 2,177 | 1,996 |
Change in Benefit Obligation [Roll Forward] | |||
Benefit Obligation, beginning of year | 2,185 | 2,047 | |
Service Cost | 24 | 22 | 19 |
Interest Cost | 95 | 85 | 85 |
Actuarial Loss | 205 | 70 | |
Benefits Paid | -92 | -83 | |
Foreign currency exchange rate changes | -140 | 41 | |
Benefit Obligation, end of year | 2,279 | 2,185 | 2,047 |
Accumulated Benefit Obligation | 2,019 | 1,917 | |
Defined Benefit Plan, Funded Status of Plan [Abstract] | |||
Funded status of plan | 89 | -8 | |
Other assets | 89 | 0 | |
Other long-term liabilities | 0 | -8 | |
Amounts recognized on balance sheet | 89 | -8 | |
SERP [Member] | |||
Supplemental Employee Retirement Plans [Abstract] | |||
Life insurance, corporate or bank owned, amount | $247 | $235 |
Employee_Benefit_Plans_Unrecog
Employee Benefit Plans - Unrecognized Amounts (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Amortization of net loss | $69 | ||
Amortization of prior service cost | -26 | ||
Amortization of regulatory deferrals | 0 | ||
Amounts that will be amortized in next fiscal year | 43 | ||
Domestic Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net loss | 757 | 487 | |
Prior service credit | -31 | -42 | |
Regulatory deferrals | -3 | -4 | |
Total net periodic benefit cost not yet recognized | 723 | 441 | 737 |
Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Defined Benefit Plan, Unrecognized Amounts From Acquisitions During Period, Before Tax | -161 | ||
Net loss (gain) arising during year | 326 | -399 | |
Defined Benefit Plan, Net Amortization Recognized in Net Periodic Benefit Cost Before Tax | -44 | -58 | |
Net periodic benefit cost not yet recognized | 282 | -296 | |
Amortization of net loss | 65 | ||
Amortization of prior service cost | -10 | ||
Amortization of regulatory deferrals | -1 | ||
Amounts that will be amortized in next fiscal year | 54 | ||
Domestic Other Postretirement Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net loss | 108 | 183 | |
Prior service credit | -87 | -102 | |
Regulatory deferrals | 2 | 2 | |
Total net periodic benefit cost not yet recognized | 23 | 83 | 175 |
Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Defined Benefit Plan, Unrecognized Amounts From Acquisitions During Period, Before Tax | -12 | ||
Net loss (gain) arising during year | -63 | -98 | |
Defined Benefit Plan, Net Amortization Recognized in Net Periodic Benefit Cost Before Tax | 3 | -6 | |
Net periodic benefit cost not yet recognized | -60 | -92 | |
Amortization of net loss | 4 | ||
Amortization of prior service cost | -16 | ||
Amortization of regulatory deferrals | 1 | ||
Amounts that will be amortized in next fiscal year | -11 | ||
UK Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net loss | 655 | 750 | |
Prior service credit | 0 | 1 | |
Total net periodic benefit cost not yet recognized | 655 | 751 | |
Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Amortization of net loss | 63 | ||
Regulatory Asset, Pension and Other Postretirement Costs [Member] | Domestic Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total net periodic benefit cost not yet recognized | 710 | 490 | 712 |
Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Defined Benefit Plan, Unrecognized Amounts From Acquisitions During Period, Before Tax | -161 | ||
Net loss (gain) arising during year | 258 | -334 | |
Defined Benefit Plan, Net Amortization Recognized in Net Periodic Benefit Cost Before Tax | -38 | -49 | |
Net periodic benefit cost not yet recognized | 220 | -222 | |
Regulatory Asset, Pension and Other Postretirement Costs [Member] | Domestic Other Postretirement Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total net periodic benefit cost not yet recognized | 37 | 99 | 188 |
Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Defined Benefit Plan, Unrecognized Amounts From Acquisitions During Period, Before Tax | -12 | ||
Net loss (gain) arising during year | -64 | -94 | |
Defined Benefit Plan, Net Amortization Recognized in Net Periodic Benefit Cost Before Tax | 2 | -7 | |
Net periodic benefit cost not yet recognized | -62 | -89 | |
Regulatory Liability, Pension and Other Postretirement Costs [Member] | Domestic Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total net periodic benefit cost not yet recognized | -6 | -58 | 0 |
Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Defined Benefit Plan, Unrecognized Amounts From Acquisitions During Period, Before Tax | 0 | ||
Net loss (gain) arising during year | 52 | -51 | |
Defined Benefit Plan, Net Amortization Recognized in Net Periodic Benefit Cost Before Tax | 0 | -7 | |
Net periodic benefit cost not yet recognized | 52 | -58 | |
Regulatory Liability, Pension and Other Postretirement Costs [Member] | Domestic Other Postretirement Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total net periodic benefit cost not yet recognized | -14 | -16 | -13 |
Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Defined Benefit Plan, Unrecognized Amounts From Acquisitions During Period, Before Tax | 0 | ||
Net loss (gain) arising during year | 1 | -4 | |
Defined Benefit Plan, Net Amortization Recognized in Net Periodic Benefit Cost Before Tax | 1 | 1 | |
Net periodic benefit cost not yet recognized | 2 | -3 | |
Accumulated Other Comprehensive Income (Loss) [Member] | Domestic Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total net periodic benefit cost not yet recognized | 19 | 9 | 25 |
Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Defined Benefit Plan, Unrecognized Amounts From Acquisitions During Period, Before Tax | 0 | ||
Net loss (gain) arising during year | 16 | -14 | |
Defined Benefit Plan, Net Amortization Recognized in Net Periodic Benefit Cost Before Tax | -6 | -2 | |
Net periodic benefit cost not yet recognized | 10 | -16 | |
Accumulated Other Comprehensive Income (Loss) [Member] | UK Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total net periodic benefit cost not yet recognized | 655 | 751 | 759 |
Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Net loss (gain) arising during year | -8 | 32 | |
Defined Benefit Plan, Net Amortization Recognized in Net Periodic Benefit Cost Before Tax | -51 | -53 | |
Foreign currency exchange rate changes | -37 | 13 | |
Net periodic benefit cost not yet recognized | ($96) | ($8) |
Employee_Benefit_Plans_Plan_As
Employee Benefit Plans - Plan Assumptions (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Health Care Cost Trend Rate Assumed for Next Fiscal Year | 8.00% | 7.88% | |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 5.00% | 4.96% | |
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2025 | ||
Defined Benefit Plan, Effect of One Percentage Point Increase on Service and Interest Cost Components | 4 | ||
Defined Benefit Plan, Effect of One Percentage Point Decrease on Service and Interest Cost Components | -3 | ||
Defined Benefit Plan, Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation | 7 | ||
Defined Benefit Plan, Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation | -6 | ||
United States Pension Plans of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.00% | 4.81% | 4.03% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 2.75% | 3.00% | 3.00% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 4.81% | 4.03% | 4.84% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 6.86% | 7.50% | 7.50% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 3.00% | 3.00% | 3.50% |
Domestic Other Postretirement Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 3.88% | 4.82% | 4.01% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 4.82% | 4.01% | 4.90% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 7.34% | 7.44% | 7.50% |
UK Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 3.60% | 4.40% | 4.40% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 2.80% | 3.15% | 2.80% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Expected Rate Of Future Price Inflation | 2.80% | 3.15% | 2.80% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 4.40% | 4.40% | 4.80% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 6.10% | 5.70% | 6.10% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 3.15% | 2.80% | 2.80% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Rate of Future Price Inflation | 3.15% | 2.80% | 2.80% |
Minimum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2019 | ||
Maximum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2029 |
Employee_Benefit_Plans_Contrib
Employee Benefit Plans - Contributions and Benefit Payments (Details) | 12 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 |
Domestic Pension Plans [Member] | Domestic Other Postretirement Plans [Member] | UK Pension Plans [Member] | UK Pension Plans [Member] | |
USD ($) | USD ($) | GBP (£) | USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | $34 | £ 50 | ||
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | 216 | 210 | 89 | |
Defined Benefit Plan, Expected Future Benefit Payments, Year Two | 225 | 56 | 91 | |
Defined Benefit Plan, Expected Future Benefit Payments, Year Three | 223 | 56 | 93 | |
Defined Benefit Plan, Expected Future Benefit Payments, Year Four | 225 | 58 | 95 | |
Defined Benefit Plan, Expected Future Benefit Payments, Year Five | 225 | 58 | 97 | |
Defined Benefit Plan, Expected Future Benefit Payments, Five Fiscal Years Thereafter | $1,073 | $283 | $553 |
Employee_Benefit_Plans_Asset_A
Employee Benefit Plans - Asset Allocations (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | ||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2025 | ||
UK Pension Plans [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 50.00% | [1] | |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 55.00% | [1] | |
UK Pension Plans [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 35.00% | [1] | |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 40.00% | [1] | |
UK Pension Plans [Member] | Real Estate Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 5.00% | ||
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 15.00% | ||
PacifiCorp [Member] | Domestic Pension Plans [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 33.00% | [2] | |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 37.00% | [2] | |
PacifiCorp [Member] | Domestic Pension Plans [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 53.00% | [2] | |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 57.00% | [2] | |
PacifiCorp [Member] | Domestic Pension Plans [Member] | Limited Partnership Interests [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 8.00% | ||
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 12.00% | ||
PacifiCorp [Member] | Domestic Pension Plans [Member] | Other securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 0.00% | ||
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 1.00% | ||
PacifiCorp [Member] | Domestic Other Postretirement Plans [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 33.00% | [2] | |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 37.00% | [2] | |
PacifiCorp [Member] | Domestic Other Postretirement Plans [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 61.00% | [2] | |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 65.00% | [2] | |
PacifiCorp [Member] | Domestic Other Postretirement Plans [Member] | Limited Partnership Interests [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 1.00% | ||
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 3.00% | ||
PacifiCorp [Member] | Domestic Other Postretirement Plans [Member] | Other securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 0.00% | ||
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 1.00% | ||
MidAmerican Energy Company [Member] | Domestic Pension Plans [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 20.00% | [2] | |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 40.00% | [2] | |
MidAmerican Energy Company [Member] | Domestic Pension Plans [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 60.00% | [2] | |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 80.00% | [2] | |
MidAmerican Energy Company [Member] | Domestic Pension Plans [Member] | Real Estate Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 2.00% | ||
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 8.00% | ||
MidAmerican Energy Company [Member] | Domestic Pension Plans [Member] | Other securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 0.00% | ||
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 5.00% | ||
MidAmerican Energy Company [Member] | Domestic Other Postretirement Plans [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 25.00% | [2] | |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 45.00% | [2] | |
MidAmerican Energy Company [Member] | Domestic Other Postretirement Plans [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 50.00% | [2] | |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 80.00% | [2] | |
MidAmerican Energy Company [Member] | Domestic Other Postretirement Plans [Member] | Real Estate Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 0.00% | ||
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 0.00% | ||
MidAmerican Energy Company [Member] | Domestic Other Postretirement Plans [Member] | Other securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 0.00% | ||
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 5.00% | ||
NV Energy [Member] | Domestic Pension Plans [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 53.00% | [2] | |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 77.00% | [2] | |
NV Energy [Member] | Domestic Pension Plans [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 23.00% | [2] | |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | 47.00% | [2] | |
NV Energy [Member] | Domestic Other Postretirement Plans [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 40.00% | [2] | |
NV Energy [Member] | Domestic Other Postretirement Plans [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 60.00% | [2] | |
Minimum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2019 | ||
Maximum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2029 | ||
[1] | For purposes of target allocation percentages and consistent with the plans' investment policy, investment funds have been allocated based on the underlying investments in debt and equity securities. | ||
[2] | For purposes of target allocation percentages and consistent with the plans' investment policy, investment funds are allocated based on the underlying investments in debt and equity securities. |
Employee_Benefit_Plans_Fair_Va
Employee Benefit Plans - Fair Value Measurements (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
In Millions, unless otherwise specified | ||||||
Domestic Pension Plans [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | $2,718 | $2,711 | $1,655 | |||
Domestic Pension Plans [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 1,302 | [1] | 1,293 | [1] | ||
Domestic Pension Plans [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 1,306 | [1] | 1,301 | [1] | ||
Domestic Pension Plans [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 110 | [1] | 117 | [1] | ||
Domestic Pension Plans [Member] | Cash Equivalents [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 69 | 80 | ||||
Domestic Pension Plans [Member] | Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 15 | [1] | 2 | [1] | ||
Domestic Pension Plans [Member] | Cash Equivalents [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 54 | [1] | 78 | [1] | ||
Domestic Pension Plans [Member] | Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Pension Plans [Member] | US Treasury Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 166 | 129 | ||||
Domestic Pension Plans [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 166 | [1] | 129 | [1] | ||
Domestic Pension Plans [Member] | US Treasury Securities [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Pension Plans [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Pension Plans [Member] | Foreign Government Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 11 | 4 | ||||
Domestic Pension Plans [Member] | Foreign Government Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Pension Plans [Member] | Foreign Government Debt Securities [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 11 | [1] | 4 | [1] | ||
Domestic Pension Plans [Member] | Foreign Government Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Pension Plans [Member] | Corporate debt securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 268 | 242 | ||||
Domestic Pension Plans [Member] | Corporate debt securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Pension Plans [Member] | Corporate debt securities [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 268 | [1] | 242 | [1] | ||
Domestic Pension Plans [Member] | Corporate debt securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Pension Plans [Member] | Municipal Bonds [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 27 | 28 | ||||
Domestic Pension Plans [Member] | Municipal Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Pension Plans [Member] | Municipal Bonds [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 27 | [1] | 28 | [1] | ||
Domestic Pension Plans [Member] | Municipal Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Pension Plans [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 94 | 132 | ||||
Domestic Pension Plans [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Pension Plans [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 94 | [1] | 132 | [1] | ||
Domestic Pension Plans [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Pension Plans [Member] | Domestic equity securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 698 | 709 | ||||
Domestic Pension Plans [Member] | Domestic equity securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 698 | [1] | 709 | [1] | ||
Domestic Pension Plans [Member] | Domestic equity securities [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Pension Plans [Member] | Domestic equity securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Pension Plans [Member] | Foreign Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 122 | 133 | ||||
Domestic Pension Plans [Member] | Foreign Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 122 | [1] | 133 | [1] | ||
Domestic Pension Plans [Member] | Foreign Equity Securities [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Pension Plans [Member] | Foreign Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Pension Plans [Member] | Equity Funds [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 1,153 | [2] | 1,137 | [2] | ||
Percentage of Investment Funds Comprised Of Equity Securitites | 61.00% | 60.00% | ||||
Percentage of Investment Funds Comprised Of Debt Securities | 39.00% | 40.00% | ||||
Percentage Of Investment Funds Invested in United States Securities | 64.00% | 65.00% | ||||
Percentage Of Investment Funds Invested In International Securities | 36.00% | 35.00% | ||||
Domestic Pension Plans [Member] | Equity Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 301 | [1],[2] | 320 | [1],[2] | ||
Domestic Pension Plans [Member] | Equity Funds [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 852 | [1],[2] | 817 | [1],[2] | ||
Domestic Pension Plans [Member] | Equity Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1],[2] | 0 | [1],[2] | ||
Domestic Pension Plans [Member] | Limited Partnership Interests [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 70 | [3] | 86 | [3] | ||
Domestic Pension Plans [Member] | Limited Partnership Interests [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1],[3] | 0 | [1],[3] | ||
Domestic Pension Plans [Member] | Limited Partnership Interests [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1],[3] | 0 | [1],[3] | ||
Domestic Pension Plans [Member] | Limited Partnership Interests [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 70 | [1],[3] | 86 | [1],[3] | 96 | 71 |
Domestic Pension Plans [Member] | Real Estate Funds [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 40 | 31 | ||||
Domestic Pension Plans [Member] | Real Estate Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Pension Plans [Member] | Real Estate Funds [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Pension Plans [Member] | Real Estate Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 40 | [1] | 31 | [1] | 26 | 24 |
Domestic Other Postretirement Plans [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 858 | 852 | 650 | |||
Domestic Other Postretirement Plans [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 613 | [1] | 614 | [1] | ||
Domestic Other Postretirement Plans [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 240 | [1] | 232 | [1] | ||
Domestic Other Postretirement Plans [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 5 | [1] | 6 | [1] | ||
Domestic Other Postretirement Plans [Member] | Cash Equivalents [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 146 | [4] | 9 | |||
Domestic Other Postretirement Plans [Member] | Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 145 | [1],[4] | 5 | [1] | ||
Domestic Other Postretirement Plans [Member] | Cash Equivalents [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 1 | [1],[4] | 4 | [1] | ||
Domestic Other Postretirement Plans [Member] | Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1],[4] | 0 | [1] | ||
Domestic Other Postretirement Plans [Member] | US Treasury Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 17 | 11 | ||||
Domestic Other Postretirement Plans [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 17 | [1] | 11 | [1] | ||
Domestic Other Postretirement Plans [Member] | US Treasury Securities [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Other Postretirement Plans [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Other Postretirement Plans [Member] | Corporate debt securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 34 | 18 | ||||
Domestic Other Postretirement Plans [Member] | Corporate debt securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Other Postretirement Plans [Member] | Corporate debt securities [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 34 | [1] | 18 | [1] | ||
Domestic Other Postretirement Plans [Member] | Corporate debt securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Other Postretirement Plans [Member] | Municipal Bonds [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 43 | 38 | ||||
Domestic Other Postretirement Plans [Member] | Municipal Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Other Postretirement Plans [Member] | Municipal Bonds [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 43 | [1] | 38 | [1] | ||
Domestic Other Postretirement Plans [Member] | Municipal Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Other Postretirement Plans [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 31 | 19 | ||||
Domestic Other Postretirement Plans [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Other Postretirement Plans [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 31 | [1] | 19 | [1] | ||
Domestic Other Postretirement Plans [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Other Postretirement Plans [Member] | Domestic equity securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 243 | 294 | ||||
Domestic Other Postretirement Plans [Member] | Domestic equity securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 243 | [1] | 294 | [1] | ||
Domestic Other Postretirement Plans [Member] | Domestic equity securities [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Other Postretirement Plans [Member] | Domestic equity securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Other Postretirement Plans [Member] | Foreign Equity Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 6 | 8 | ||||
Domestic Other Postretirement Plans [Member] | Foreign Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 6 | [1] | 8 | [1] | ||
Domestic Other Postretirement Plans [Member] | Foreign Equity Securities [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Other Postretirement Plans [Member] | Foreign Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
Domestic Other Postretirement Plans [Member] | Equity Funds [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 333 | [5] | 449 | [5] | ||
Percentage of Investment Funds Comprised Of Equity Securitites | 63.00% | 57.00% | ||||
Percentage of Investment Funds Comprised Of Debt Securities | 37.00% | 43.00% | ||||
Percentage Of Investment Funds Invested in United States Securities | 69.00% | 72.00% | ||||
Percentage Of Investment Funds Invested In International Securities | 31.00% | 28.00% | ||||
Domestic Other Postretirement Plans [Member] | Equity Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 202 | [1],[5] | 296 | [1],[5] | ||
Domestic Other Postretirement Plans [Member] | Equity Funds [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 131 | [1],[5] | 153 | [1],[5] | ||
Domestic Other Postretirement Plans [Member] | Equity Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1],[5] | 0 | [1],[5] | ||
Domestic Other Postretirement Plans [Member] | Limited Partnership Interests [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 5 | [3] | 6 | [3] | ||
Domestic Other Postretirement Plans [Member] | Limited Partnership Interests [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1],[3] | 0 | [1],[3] | ||
Domestic Other Postretirement Plans [Member] | Limited Partnership Interests [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1],[3] | 0 | [1],[3] | ||
Domestic Other Postretirement Plans [Member] | Limited Partnership Interests [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 5 | [1],[3] | 6 | [1],[3] | 7 | 6 |
UK Pension Plans [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 2,368 | 2,177 | 1,996 | |||
UK Pension Plans [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 609 | [1] | 525 | [1] | ||
UK Pension Plans [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 1,560 | [1] | 1,473 | [1] | ||
UK Pension Plans [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 199 | [1] | 179 | [1] | ||
UK Pension Plans [Member] | Cash Equivalents [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 43 | 23 | ||||
UK Pension Plans [Member] | Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 43 | [1] | 23 | [1] | ||
UK Pension Plans [Member] | Cash Equivalents [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
UK Pension Plans [Member] | Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
UK Pension Plans [Member] | US Treasury Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 5 | |||||
UK Pension Plans [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 5 | [1] | ||||
UK Pension Plans [Member] | US Treasury Securities [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | ||||
UK Pension Plans [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | ||||
UK Pension Plans [Member] | United Kingdom Government Obligations [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 452 | |||||
UK Pension Plans [Member] | United Kingdom Government Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 452 | [1] | ||||
UK Pension Plans [Member] | United Kingdom Government Obligations [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | ||||
UK Pension Plans [Member] | United Kingdom Government Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | ||||
UK Pension Plans [Member] | Foreign Government Debt, Excluding That Of The United Kingdom [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 14 | 2 | ||||
UK Pension Plans [Member] | Foreign Government Debt, Excluding That Of The United Kingdom [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
UK Pension Plans [Member] | Foreign Government Debt, Excluding That Of The United Kingdom [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 14 | [1] | 2 | [1] | ||
UK Pension Plans [Member] | Foreign Government Debt, Excluding That Of The United Kingdom [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
UK Pension Plans [Member] | Corporate debt securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 196 | 206 | ||||
UK Pension Plans [Member] | Corporate debt securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
UK Pension Plans [Member] | Corporate debt securities [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 196 | [1] | 206 | [1] | ||
UK Pension Plans [Member] | Corporate debt securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
UK Pension Plans [Member] | Equity Funds [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 1,464 | [6] | 1,387 | [6] | ||
Percentage of Investment Funds Comprised Of Equity Securitites | 44.00% | 45.00% | ||||
Percentage of Investment Funds Comprised Of Debt Securities | 56.00% | 55.00% | ||||
UK Pension Plans [Member] | Equity Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 114 | [1],[6] | 122 | [1],[6] | ||
UK Pension Plans [Member] | Equity Funds [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 1,350 | [1],[6] | 1,265 | [1],[6] | ||
UK Pension Plans [Member] | Equity Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1],[6] | 0 | [1],[6] | ||
UK Pension Plans [Member] | Real Estate Funds [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 199 | 179 | ||||
UK Pension Plans [Member] | Real Estate Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
UK Pension Plans [Member] | Real Estate Funds [Member] | Level 2 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ||
UK Pension Plans [Member] | Real Estate Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plan, Fair Value of Plan Assets | $199 | [1] | $179 | [1] | $163 | $158 |
[1] | Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy. | |||||
[2] | Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 61% and 39%, respectively, for 2014 and 60% and 40%, respectively, for 2013. Additionally, these funds are invested in United States and international securities of approximately 64% and 36%, respectively, for 2014 and 65% and 35%, respectively, for 2013. | |||||
[3] | Limited partnership interests include several funds that invest primarily in buyout, growth equity and venture capital. | |||||
[4] | In December 2014, PacifiCorp began to migrate funds to cash and cash equivalents in anticipation of the $150B million to be transferred to the UMWA in JuneB 2015 as a result of the other postretirement settlement. Remaining investments were rebalanced to align to PacifiCorp's target investment allocations. | |||||
[5] | Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 63% and 37%, respectively, for 2014 and 57% and 43%, respectively, for 2013. Additionally, these funds are invested in United States and international securities of approximately 69% and 31%, respectively, for 2014 and 72% and 28%, respectively, for 2013. | |||||
[6] | Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 44% and 56%, respectively, for 2014 and 45% and 55%, respectively, for 2013. |
Employee_Benefit_Plans_Level_3
Employee Benefit Plans - Level 3 Rollforward (Details) (USD $) | 12 Months Ended | ||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Domestic Pension Plans [Member] | |||||
Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair Value of Plan Assets, End of year | $2,718 | $2,711 | $1,655 | ||
Domestic Pension Plans [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair Value of Plan Assets, End of year | 110 | [1] | 117 | [1] | |
Domestic Pension Plans [Member] | Limited Partnership Interests [Member] | |||||
Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair Value of Plan Assets, End of year | 70 | [2] | 86 | [2] | |
Domestic Pension Plans [Member] | Limited Partnership Interests [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair Value of Plan Assets, Beginning of year | 86 | [1],[2] | 96 | 71 | |
Defined Benefit Plan, Actual Return on Plan Assets Still Held | -1 | 16 | 7 | ||
Defined Benefit Plan, Purchases, Sales, and Settlements | -15 | -26 | 18 | ||
Fair Value of Plan Assets, End of year | 70 | [1],[2] | 86 | [1],[2] | 96 |
Domestic Pension Plans [Member] | Real Estate Funds [Member] | |||||
Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair Value of Plan Assets, End of year | 40 | 31 | |||
Domestic Pension Plans [Member] | Real Estate Funds [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair Value of Plan Assets, Beginning of year | 31 | [1] | 26 | 24 | |
Defined Benefit Plan, Actual Return on Plan Assets Still Held | 4 | 5 | 2 | ||
Defined Benefit Plan, Purchases, Sales, and Settlements | 5 | 0 | 0 | ||
Fair Value of Plan Assets, End of year | 40 | [1] | 31 | [1] | 26 |
Domestic Other Postretirement Plans [Member] | |||||
Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair Value of Plan Assets, End of year | 858 | 852 | 650 | ||
Domestic Other Postretirement Plans [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair Value of Plan Assets, End of year | 5 | [1] | 6 | [1] | |
Domestic Other Postretirement Plans [Member] | Limited Partnership Interests [Member] | |||||
Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair Value of Plan Assets, End of year | 5 | [2] | 6 | [2] | |
Domestic Other Postretirement Plans [Member] | Limited Partnership Interests [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair Value of Plan Assets, Beginning of year | 6 | [1],[2] | 7 | 6 | |
Defined Benefit Plan, Actual Return on Plan Assets Still Held | 0 | 1 | 1 | ||
Defined Benefit Plan, Purchases, Sales, and Settlements | -1 | -2 | 0 | ||
Fair Value of Plan Assets, End of year | 5 | [1],[2] | 6 | [1],[2] | 7 |
UK Pension Plans [Member] | |||||
Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair Value of Plan Assets, Beginning of year | 2,177 | 1,996 | |||
Foreign Currency Exchange Rate Changes | -145 | 44 | |||
Fair Value of Plan Assets, End of year | 2,368 | 2,177 | |||
UK Pension Plans [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair Value of Plan Assets, End of year | 199 | [1] | 179 | [1] | |
UK Pension Plans [Member] | Real Estate Funds [Member] | |||||
Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair Value of Plan Assets, End of year | 199 | 179 | |||
UK Pension Plans [Member] | Real Estate Funds [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair Value of Plan Assets, Beginning of year | 179 | [1] | 163 | 158 | |
Defined Benefit Plan, Actual Return on Plan Assets Still Held | 33 | 12 | -3 | ||
Foreign Currency Exchange Rate Changes | -13 | 4 | 8 | ||
Fair Value of Plan Assets, End of year | $199 | [1] | $179 | [1] | $163 |
[1] | Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy. | ||||
[2] | Limited partnership interests include several funds that invest primarily in buyout, growth equity and venture capital. |
Employee_Benefit_Plans_Defined
Employee Benefit Plans - Defined Contribution Plans (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Compensation and Retirement Disclosure [Abstract] | |||
Defined Contribution Plan, Cost Recognized | $83 | $63 | $62 |
Asset_Retirement_Obligation_By
Asset Retirement Obligation By Type (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | |||||
Asset Retirement Obligations By Type [Line Items] | |||||
Regulatory Liabilities | $2,832 | $2,665 | |||
Total ARO liability | 753 | 696 | 490 | ||
Fossil fuel facilities [Member] | |||||
Asset Retirement Obligations By Type [Line Items] | |||||
Total ARO liability | 334 | 315 | |||
Quad Cities Station [Member] | |||||
Asset Retirement Obligations By Type [Line Items] | |||||
Total ARO liability | 265 | 254 | |||
Wind generating facilities [Member] | |||||
Asset Retirement Obligations By Type [Line Items] | |||||
Total ARO liability | 75 | 59 | |||
Offshore pipeline facilities [Member] | |||||
Asset Retirement Obligations By Type [Line Items] | |||||
Total ARO liability | 31 | 35 | |||
Solar generating facilities [Member] | |||||
Asset Retirement Obligations By Type [Line Items] | |||||
Total ARO liability | 9 | 5 | |||
Other [Member] | |||||
Asset Retirement Obligations By Type [Line Items] | |||||
Total ARO liability | 39 | 28 | |||
Cost of removal [Member] | |||||
Asset Retirement Obligations By Type [Line Items] | |||||
Regulatory Liabilities | 2,215 | [1] | 2,009 | [1] | |
Quad Cities Station nuclear decommissioning trust funds [Member] | |||||
Asset Retirement Obligations By Type [Line Items] | |||||
Nuclear decommissioning trust funds | $424 | $394 | |||
[1] | Amounts represent estimated costs, as accrued through depreciation rates and exclusive of ARO liabilities, of removing regulated property, plant and equipment in accordance with accepted regulatory practices. Amounts are deducted from rate base or otherwise accrue a carrying cost. |
Change_in_Asset_Retirement_Obl
Change in Asset Retirement Obligations (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | $696 | $490 |
Acquisitions | 12 | 80 |
Change in estimated costs | 3 | 88 |
Additions | 15 | 18 |
Retirements | -8 | -6 |
Accretion | 35 | 26 |
Ending Balance | 753 | 696 |
Reflected as: [Abstract] | ||
Other current liabilities | 66 | 18 |
Other long-term liabilities | 687 | 678 |
Total ARO liability | 753 | 696 |
MidAmerican Energy Company [Member] | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Change in estimated costs | $98 |
Risk_Management_and_Hedging_Ac2
Risk Management and Hedging Activities - Balance Sheet Location (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
In Millions, unless otherwise specified | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | ($197) | ($133) | ||||
Cash collateral receivable (payable), offset against derivative positions | 75 | 12 | ||||
Derivative Assets (Liabilities), at Fair Value, Net | -122 | -121 | ||||
Other Current Assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | 41 | 17 | ||||
Cash collateral receivable (payable), offset against derivative positions | 0 | -2 | ||||
Derivative Assets (Liabilities), at Fair Value, Net | 41 | 15 | ||||
Other Assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | 67 | 72 | ||||
Cash collateral receivable (payable), offset against derivative positions | 0 | 0 | ||||
Derivative Assets (Liabilities), at Fair Value, Net | 67 | 72 | ||||
Other Current Liabilities [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | -153 | -71 | ||||
Cash collateral receivable (payable), offset against derivative positions | 56 | 1 | ||||
Derivative Assets (Liabilities), at Fair Value, Net | -97 | -70 | ||||
Other Long-Term Liabilities [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | -152 | -151 | ||||
Cash collateral receivable (payable), offset against derivative positions | 19 | 13 | ||||
Derivative Assets (Liabilities), at Fair Value, Net | -133 | -138 | ||||
Not Designated as Hedging Instrument [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | -158 | -121 | ||||
Not Designated as Hedging Instrument [Member] | Other Current Assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | 40 | 17 | ||||
Not Designated as Hedging Instrument [Member] | Other Assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | 66 | 66 | ||||
Not Designated as Hedging Instrument [Member] | Other Current Liabilities [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | -127 | -61 | ||||
Not Designated as Hedging Instrument [Member] | Other Long-Term Liabilities [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | -137 | -143 | ||||
Designated as Hedging Instrument [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | -39 | -12 | ||||
Designated as Hedging Instrument [Member] | Other Current Assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | 1 | 0 | ||||
Designated as Hedging Instrument [Member] | Other Assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | 1 | 6 | ||||
Designated as Hedging Instrument [Member] | Other Current Liabilities [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | -26 | -10 | ||||
Designated as Hedging Instrument [Member] | Other Long-Term Liabilities [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | -15 | -8 | ||||
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 135 | [1] | 98 | [1] | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -291 | [1] | -226 | [1] | ||
Derivative, fair value, net | -156 | -128 | ||||
Net regulatory asset | 223 | 182 | 235 | 400 | ||
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Current Assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 47 | [1] | 16 | [1] | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -11 | [1] | -2 | [1] | ||
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 66 | [1] | 62 | [1] | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | 0 | [1] | -1 | [1] | ||
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Current Liabilities [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 21 | [1] | 18 | [1] | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -146 | [1] | -78 | [1] | ||
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Long-Term Liabilities [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 1 | [1] | 2 | [1] | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -134 | [1] | -145 | [1] | ||
Commodity Contract [Member] | Designated as Hedging Instrument [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 8 | 2 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -44 | -14 | ||||
Commodity Contract [Member] | Designated as Hedging Instrument [Member] | Other Current Assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 1 | 1 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | 0 | -1 | ||||
Commodity Contract [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 0 | 0 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | 0 | 0 | ||||
Commodity Contract [Member] | Designated as Hedging Instrument [Member] | Other Current Liabilities [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 5 | 1 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -27 | -5 | ||||
Commodity Contract [Member] | Designated as Hedging Instrument [Member] | Other Long-Term Liabilities [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 2 | 0 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -17 | -8 | ||||
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 4 | 8 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -6 | -1 | ||||
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Current Assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 4 | 3 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | 0 | 0 | ||||
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 0 | 5 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | 0 | 0 | ||||
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Current Liabilities [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 0 | 0 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -2 | -1 | ||||
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Long-Term Liabilities [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 0 | 0 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -4 | 0 | ||||
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 1 | 6 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -4 | -6 | ||||
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Other Current Assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 0 | 0 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | 0 | 0 | ||||
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 1 | 6 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | 0 | 0 | ||||
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Other Current Liabilities [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 0 | 0 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -4 | -6 | ||||
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Other Long-Term Liabilities [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 0 | 0 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | $0 | $0 | ||||
[1] | The Company's commodity derivatives not designated as hedging contracts are generally included in regulated rates, and as of December 31, 2014 and 2013, a net regulatory asset of $223 million and $182B million, respectively, was recorded related to the net derivative liability of $156B million and $128B million, respectively. |
Risk_Management_and_Hedging_Ac3
Risk Management and Hedging Activities - Not Designated as Hedging Contracts (Details) (Commodity Contract [Member], Not Designated as Hedging Instrument [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | |||
Regulatory Assets (Liabilities), Net, Derivatives [Roll Forward] | |||
Beginning balance | $182 | $235 | $400 |
NV Energy Transaction | 0 | 47 | 0 |
Changes in fair value recognized in net regulatory assets | 96 | 29 | 69 |
Net (losses) gains reclassified to operating revenue | -32 | 8 | 63 |
Net losses reclassified to cost of sales | -23 | -137 | -297 |
Ending balance | $223 | $182 | $235 |
Risk_Management_and_Hedging_Ac4
Risk Management and Hedging Activities - Designated as Hedging Contracts (Details) (Designated as Hedging Instrument [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Accumulated Other Comprehensive (Income) Loss, Net, Derivatives [Roll Forward] | |||
Cash flow hedge ineffectiveness | insignificant | Insignificant | Insignificant |
Cash flow hedge gain (loss) to be reclassified within twelve months | ($22) | ||
Commodity Contract [Member] | |||
Accumulated Other Comprehensive (Income) Loss, Net, Derivatives [Roll Forward] | |||
Beginning balance | 12 | 32 | 46 |
Changes in fair value recognized in other comprehensive income | -6 | -9 | 20 |
Net gains reclassified to operating revenue | 0 | 0 | 4 |
Net gains (losses) reclassified to cost of sales | 26 | -11 | -38 |
Ending balance | $32 | 12 | 32 |
Risk_Management_and_Hedging_Ac5
Risk Management and Hedging Activities - Derivative Contract Volumes (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | MWh | MWh |
Commodity Contract [Member] | Electricity purchases (sales), net (in megawatt hours) [Member] | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, Nonmonetary Notional Amount | 6,000,000 | -5,000,000 |
Commodity Contract [Member] | Natural gas purchases (in decatherms) [Member] | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, Nonmonetary Notional Amount | 308,000,000 | 322,000,000 |
Commodity Contract [Member] | Fuel purchases (in gallons) [Member] | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, Nonmonetary Notional Amount | 2,000,000 | 9,000,000 |
Interest Rate Contract [Member] | Interest Rate Swap [Member] | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, Notional Amount | 443 | 650 |
Interest Rate Contract [Member] | Mortgage Sale Commitments, Net [Member] | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, Notional Amount | -264 | -121 |
Risk_Management_and_Hedging_Ac6
Risk Management and Hedging Activities - Collateral and Contingent Features (Details) (Commodity Contract [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Commodity Contract [Member] | ||
Derivative [Line Items] | ||
Derivative, Net Liability Position, Aggregate Fair Value | $243 | $176 |
Collateral Already Posted, Aggregate Fair Value | 28 | 12 |
Additional Collateral, Aggregate Fair Value | $182 | $147 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Millions, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash collateral receivable (payable), offset against derivative positions | $75 | $12 | ||
Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative asset, fair value, gross liability and obligation to return cash, offset | -40 | [1] | -27 | [1] |
Assets, fair value disclosure | 2,193 | 2,682 | ||
Derivative liability, fair value, gross asset and right to reclaim cash, offset | 115 | [1] | 39 | [1] |
Derivative liabilities | -230 | -208 | ||
Cash collateral receivable (payable), offset against derivative positions | 75 | [1] | 12 | |
Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, fair value disclosure | 1,718 | 2,381 | ||
Derivative liabilities | -18 | -1 | ||
Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, fair value disclosure | 376 | 215 | ||
Derivative liabilities | -284 | -237 | ||
Recurring [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, fair value disclosure | 139 | 113 | ||
Derivative liabilities | -43 | -9 | ||
Mortgage loans held for sale [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 279 | 130 | ||
Mortgage loans held for sale [Member] | Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | 0 | ||
Mortgage loans held for sale [Member] | Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 279 | 130 | ||
Mortgage loans held for sale [Member] | Recurring [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | 0 | ||
Money market mutual funds [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 320 | [2] | 809 | [2] |
Money market mutual funds [Member] | Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 320 | [2] | 809 | [2] |
Money market mutual funds [Member] | Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | [2] | 0 | [2] |
Money market mutual funds [Member] | Recurring [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | [2] | 0 | [2] |
United States government obligations [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 136 | 134 | ||
United States government obligations [Member] | Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 136 | 134 | ||
United States government obligations [Member] | Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | 0 | ||
United States government obligations [Member] | Recurring [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | 0 | ||
International governement obligations [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 1 | 1 | ||
International governement obligations [Member] | Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | 0 | ||
International governement obligations [Member] | Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 1 | 1 | ||
International governement obligations [Member] | Recurring [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | 0 | ||
Corporate obligations [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 39 | 38 | ||
Corporate obligations [Member] | Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | 0 | ||
Corporate obligations [Member] | Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 39 | 38 | ||
Corporate obligations [Member] | Recurring [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | 0 | ||
Municipal Bonds [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 2 | 2 | ||
Municipal Bonds [Member] | Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | 0 | ||
Municipal Bonds [Member] | Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 2 | 2 | ||
Municipal Bonds [Member] | Recurring [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | 0 | ||
Agency, asset and mortgage-backed obligations [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 2 | 2 | ||
Agency, asset and mortgage-backed obligations [Member] | Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | 0 | ||
Agency, asset and mortgage-backed obligations [Member] | Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 2 | 2 | ||
Agency, asset and mortgage-backed obligations [Member] | Recurring [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | 0 | ||
Auction rate securities [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 45 | 44 | ||
Auction rate securities [Member] | Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | 0 | ||
Auction rate securities [Member] | Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | 0 | ||
Auction rate securities [Member] | Recurring [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 45 | 44 | ||
United States companies [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 238 | 214 | ||
United States companies [Member] | Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 238 | 214 | ||
United States companies [Member] | Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | 0 | ||
United States companies [Member] | Recurring [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | 0 | ||
International companies [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 886 | 1,107 | ||
International companies [Member] | Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 886 | 1,107 | ||
International companies [Member] | Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | 0 | ||
International companies [Member] | Recurring [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | 0 | ||
Investment funds [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 137 | 114 | ||
Investment funds [Member] | Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 137 | 114 | ||
Investment funds [Member] | Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | 0 | ||
Investment funds [Member] | Recurring [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 0 | 0 | ||
Commodity Contract [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative asset, fair value, gross liability and obligation to return cash, offset | -40 | -27 | [1] | |
Derivative assets | 103 | 73 | ||
Derivative liability, fair value, gross asset and right to reclaim cash, offset | 115 | [1] | 39 | [1] |
Derivative liabilities | -220 | -201 | ||
Commodity Contract [Member] | Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 1 | 3 | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | 18 | 1 | ||
Commodity Contract [Member] | Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 48 | 28 | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | 274 | 230 | ||
Commodity Contract [Member] | Recurring [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 94 | 69 | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | 43 | 9 | ||
Interest Rate Swap [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative assets | 5 | 14 | ||
Derivative liabilities | -10 | -7 | ||
Interest Rate Swap [Member] | Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 0 | 0 | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | 0 | 0 | ||
Interest Rate Swap [Member] | Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 5 | 14 | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | 10 | 7 | ||
Interest Rate Swap [Member] | Recurring [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative asset, fair value, gross asset including not subject to master netting arrangement | 0 | 0 | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | $0 | $0 | ||
[1] | Represents netting under master netting arrangements and a net cash collateral receivable of $75B million and $12B million as of DecemberB 31, 2014 and 2013, respectively. | |||
[2] | Amounts are included in cash and cash equivalents; other current assets; and noncurrent investments and restricted cash and investments on the Consolidated Balance Sheets. The fair value of these money market mutual funds approximates cost. |
Fair_Value_Measurements_Level_
Fair Value Measurements - Level 3 (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Commodity [Member] | |||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning Balance | $60 | $32 | $23 |
Changes included in earnings | 19 | 34 | 10 |
Changes in fair value recognized in other comprehensive income | 0 | -2 | 0 |
Changes in fair value recognized in net regulatory assets | 5 | 1 | -2 |
Purchases | 1 | 4 | 27 |
Sales | 0 | 0 | 0 |
Settlements | 1 | -9 | -26 |
Transfers from level 2 | -35 | 0 | 0 |
Ending Balance | 51 | 60 | 32 |
Auction rate securities [Member] | |||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning Balance | 44 | 41 | 35 |
Changes included in earnings | 0 | 0 | 0 |
Changes in fair value recognized in other comprehensive income | 1 | 3 | 7 |
Changes in fair value recognized in net regulatory assets | 0 | 0 | 0 |
Purchases | 0 | 0 | 0 |
Sales | 0 | 0 | -1 |
Settlements | 0 | 0 | 0 |
Transfers from level 2 | 0 | 0 | 0 |
Ending Balance | $45 | $44 | $41 |
Fair_Value_Measurements_Debt_D
Fair Value Measurements - Debt (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, carrying value | $38,649 | $32,012 |
Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $43,863 | $34,881 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Legal (Details) (PacifiCorp [Member], USA Power [Member], USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Loss Contingencies [Line Items] | |
Loss Contingency, Damages Sought, Legal Fees as a Percentage of Damages | 40.00% |
Loss Contingency, Damages Awarded, Value | $113 |
Loss Contingency, Damages and Attorney Fees Awarded, Value | 115 |
Loss Contingency Accrual | 119 |
Amount awarded for actual damages [Member] | |
Loss Contingencies [Line Items] | |
Loss Contingency, Damages Awarded by Jury, Value | 18 |
Amount awarded for unjust enrichment [Member] | |
Loss Contingencies [Line Items] | |
Loss Contingency, Damages Awarded by Jury, Value | $113 |
Commitments_and_Contingencies_3
Commitments and Contingencies - Commitments Table (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Contractual Obligation [Line Items] | |||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $143,000,000 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 120,000,000 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 102,000,000 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 84,000,000 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 67,000,000 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 861,000,000 | ||
Operating Leases, Future Minimum Payments Due | 1,377,000,000 | ||
Contractual Obligation, Due in Next Twelve Months | 3,937,000,000 | ||
Contractual Obligation, Due in Second Year | 2,162,000,000 | ||
Contractual Obligation, Due in Third Year | 1,834,000,000 | ||
Contractual Obligation, Due in Fourth Year | 1,461,000,000 | ||
Contractual Obligation, Due in Fifth Year | 1,371,000,000 | ||
Contractual Obligation, Due after Fifth Year | 10,613,000,000 | ||
Contractual Obligation | 21,378,000,000 | ||
Rent expense | 146,000,000 | 118,000,000 | 112,000,000 |
Fuel, capacity and transmission contract commitments [Member] | |||
Contractual Obligation [Line Items] | |||
Purchase Obligation, Due in Next Twelve Months | 2,327,000,000 | ||
Purchase Obligation, Due in Second Year | 1,765,000,000 | ||
Purchase Obligation, Due in Third Year | 1,553,000,000 | ||
Purchase Obligation, Due in Fourth Year | 1,216,000,000 | ||
Purchase Obligation, Due in Fifth Year | 1,140,000,000 | ||
Purchase Obligation, Due after Fifth Year | 8,777,000,000 | ||
Purchase Obligation | 16,778,000,000 | ||
Construction commitments [Member] | |||
Contractual Obligation [Line Items] | |||
Purchase Obligation, Due in Next Twelve Months | 1,280,000,000 | ||
Purchase Obligation, Due in Second Year | 117,000,000 | ||
Purchase Obligation, Due in Third Year | 18,000,000 | ||
Purchase Obligation, Due in Fourth Year | 8,000,000 | ||
Purchase Obligation, Due in Fifth Year | 3,000,000 | ||
Purchase Obligation, Due after Fifth Year | 9,000,000 | ||
Purchase Obligation | 1,435,000,000 | ||
Maintenance, Service And Other Contracts [Member] | |||
Contractual Obligation [Line Items] | |||
Purchase Obligation, Due in Next Twelve Months | 187,000,000 | ||
Purchase Obligation, Due in Second Year | 160,000,000 | ||
Purchase Obligation, Due in Third Year | 161,000,000 | ||
Purchase Obligation, Due in Fourth Year | 153,000,000 | ||
Purchase Obligation, Due in Fifth Year | 161,000,000 | ||
Purchase Obligation, Due after Fifth Year | 966,000,000 | ||
Purchase Obligation | 1,788,000,000 | ||
Topaz [Member] | |||
Contractual Obligation [Line Items] | |||
Equity funding and contribution agreement, amount committed | 2,440,000,000 | ||
Equity commitment, outstanding amount | 142,000,000 | ||
Solar Star Projects [Member] | |||
Contractual Obligation [Line Items] | |||
Equity funding and contribution agreement, amount committed | 2,750,000,000 | ||
Equity commitment, outstanding amount | 802,000,000 | ||
MidAmerican Funding [Member] | |||
Contractual Obligation [Line Items] | |||
Coal transportation costs, railroad | $159,000,000 | $174,000,000 | |
Number of Construction Projects | 4 |
Commitments_and_Contingencies_4
Commitments and Contingencies b Hydroelectric (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Hydroelectric [Line Items] | |||
Assets | $82,304 | $70,000 | $52,467 |
PacifiCorp [Member] | |||
Hydroelectric [Line Items] | |||
Assets | 23,466 | 22,885 | 22,973 |
Capital expenditures required by hydroelectric licenses | 203 | ||
PacifiCorp [Member] | Klamath Hydroelectric System [Member] | |||
Hydroelectric [Line Items] | |||
Dam removal cost limit | 200 | ||
Additional dam removal costs, California bond measure | 250 | ||
Assets | 92 | ||
PacifiCorp [Member] | Klamath Hydroelectric System [Member] | CALIFORNIA | |||
Hydroelectric [Line Items] | |||
Dam removal cost limit | 16 | ||
PacifiCorp [Member] | Klamath Hydroelectric System [Member] | OREGON | |||
Hydroelectric [Line Items] | |||
Dam removal cost limit | $184 |
BHE_Shareholders_Equity_Detail
BHE Shareholders' Equity (Details) (USD $) | 12 Months Ended | 2 Months Ended |
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Feb. 28, 2015 |
Class of Stock [Line Items] | ||
Common stock, value, issued | $1,000 | |
Common Stock [Member] | ||
Class of Stock [Line Items] | ||
Common stock, value, issued | 1,000 | |
Common stock issuances (shares) | 2,857,143 | |
Subsequent Event [Member] | Common Stock [Member] | ||
Class of Stock [Line Items] | ||
Common stock repurchased (shares) | 75,000 | |
Common stock, value, repurchased | $36 |
BHE_Shareholders_Equity_Restri
BHE Shareholders' Equity - Restricted Net Assets (Details) (USD $) | Dec. 31, 2014 |
In Billions, unless otherwise specified | |
Stockholders' Equity Note [Abstract] | |
BHE restricted net assets | $11.80 |
BHE's subsidiaries restricted net assets | $17.40 |
Components_of_Accumulated_Othe2
Components of Accumulated Other Comprehensive Loss, Net (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Accumulated Other Comprehensive Loss, Net [Roll Forward] | |||
Balance, accumulated other comprehensive loss attributable to BHE shareholders, net | ($97) | ||
Other comprehensive (loss) income, unrecognized amounts on retirement benefits | 69 | 16 | -84 |
Other comprehensive (loss) income, foreign currency translation adjustment | -314 | 74 | 135 |
Other comprehensive (loss) income, unrealized gains on available-for-sale securities | -134 | 263 | 119 |
Other comprehensive (loss) income, unrealized gains on cash flow hedges | -18 | 13 | 8 |
Other comprehensive income (loss) | -397 | 366 | 178 |
Balance, accumulated other comprehensive loss attributable to BHE shareholders, net | -494 | -97 | |
Accumulated Other Comprehensive Loss, Net [Member] | |||
Accumulated Other Comprehensive Loss, Net [Roll Forward] | |||
Balance, unrecognized amounts on retirement benefits | -559 | -575 | -491 |
Balance, foreign currency translation adjustment | -98 | -172 | -307 |
Balance, unrealized gains on available-for-sale securities | 524 | 261 | 142 |
Balance, unrealized gains on cash flow hedges | 36 | 23 | 15 |
Balance, accumulated other comprehensive loss attributable to BHE shareholders, net | -97 | -463 | -641 |
Other comprehensive (loss) income, unrecognized amounts on retirement benefits | 69 | 16 | -84 |
Other comprehensive (loss) income, foreign currency translation adjustment | -314 | 74 | 135 |
Other comprehensive (loss) income, unrealized gains on available-for-sale securities | -134 | 263 | 119 |
Other comprehensive (loss) income, unrealized gains on cash flow hedges | -18 | 13 | 8 |
Other comprehensive income (loss) | -397 | 366 | 178 |
Balance, unrecognized amounts on retirement benefits | -490 | -559 | -575 |
Balance, foreign currency translation adjustment | -412 | -98 | -172 |
Balance, unrealized gains on available-for-sale securities | 390 | 524 | 261 |
Balance, unrealized gains on cash flow hedges | 18 | 36 | 23 |
Balance, accumulated other comprehensive loss attributable to BHE shareholders, net | ($494) | ($97) | ($463) |
Noncontrolling_Interests_Detai
Noncontrolling Interests (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Payments | ||
Preferred Securities of Subsidiaries [Line Items] | ||
Preferred stock of subsidiaries, value, outstanding noncontrolling interest, amount represented by preferred stock | $58 | $58 |
Stock Redeemed or Called During Period, Value | 68 | |
PacifiCorp [Member] | ||
Preferred Securities of Subsidiaries [Line Items] | ||
Preferred stock of subsidiaries, value, outstanding noncontrolling interest, amount represented by preferred stock | 2 | 2 |
Stock Redeemed or Called During Period, Value | 40 | |
Number of full quarterly dividend payments in default before preferred stockholders elect board of directors | 4 | |
MidAmerican Energy Company [Member] | ||
Preferred Securities of Subsidiaries [Line Items] | ||
Stock Redeemed or Called During Period, Value | 28 | |
Northern Electric Plc [Member] | ||
Preferred Securities of Subsidiaries [Line Items] | ||
Preferred stock of subsidiaries, value, outstanding noncontrolling interest, amount represented by preferred stock | $56 | $56 |
Noncontrolling interest, dividend requirements of preferred stock | 8.06% | 0.08061 |
Minimum [Member] | PacifiCorp [Member] | ||
Preferred Securities of Subsidiaries [Line Items] | ||
Noncontrolling interest, dividend requirements of preferred stock | 6.00% | 0.06 |
Maximum [Member] | PacifiCorp [Member] | ||
Preferred Securities of Subsidiaries [Line Items] | ||
Noncontrolling interest, dividend requirements of preferred stock | 7.00% | 0.07 |
Other_Net_Details
Other, Net (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | $80 | $66 | $56 |
Interest and dividend income [Member] | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | 38 | 15 | 12 |
Corporate-owned life insurance income [Member] | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | 19 | 34 | 21 |
Other, net [Member] | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | $23 | $17 | $23 |
Supplemental_Cash_Flow_Disclos2
Supplemental Cash Flow Disclosures (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract] | ||||||
Accruals related to property, plant and equipment additions | $1,143 | $661 | $606 | |||
Deferred payments on equipment purchased for wind-powered generation at MidAmerican Energy | 0 | [1] | 0 | [1] | 406 | [1] |
Supplemental Cash Flow Information [Abstract] | ||||||
Interest paid, net of amounts capitalized | 1,585 | 1,073 | 1,046 | |||
Income taxes received, net | 635 | [2] | 1,105 | [2] | 1,341 | [2] |
Related party transaction, cash received for income taxes, net | $764 | $1,200 | $1,500 | |||
[1] | In conjunction with the construction of wind-powered generating facilities, MidAmerican Energy accrued as property, plant and equipment, net certain amounts for which it was not contractually obligated to pay until a stated future date. Refer to Note 10 for additional information. | |||||
[2] | Includes $764 million, $1.2 billion and $1.5 billion of income taxes received from Berkshire Hathaway in 2014, 2013 and 2012, respectively. |
Segment_Information_Details
Segment Information (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Segment Reporting Information [Line Items] | ||||||
Sales revenue from energy operations | $15,182 | $10,826 | $10,236 | |||
Real estate | 2,144 | 1,809 | 1,312 | |||
Total operating revenue | 17,326 | 12,635 | 11,548 | |||
Depreciation and amortization - energy operations | 2,028 | 1,527 | 1,436 | |||
Depreciation and amortization | 2,057 | 1,560 | 1,455 | |||
Operating income (loss) | 4,046 | 2,835 | 2,567 | |||
Interest expense | 1,711 | 1,222 | 1,176 | |||
Capitalized interest | 89 | 84 | 54 | |||
Allowance for equity funds | 98 | 78 | 74 | |||
Other, net | 80 | 66 | 56 | |||
Loss before income tax benefit and equity income | 2,602 | 1,841 | 1,575 | |||
Income tax expense | 589 | 130 | 148 | |||
Capital expenditures | 6,555 | 4,307 | 3,380 | |||
Property, plant and equipment, net | 59,248 | 50,119 | 37,614 | |||
Assets | 82,304 | 70,000 | 52,467 | |||
PacifiCorp [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Sales revenue from energy operations | 5,252 | 5,147 | 4,882 | |||
Depreciation and amortization - energy operations | 745 | 692 | 655 | |||
Operating income (loss) | 1,308 | 1,275 | 1,034 | |||
Interest expense | 386 | 390 | 393 | |||
Income tax expense | 310 | 298 | 196 | |||
Capital expenditures | 1,066 | 1,065 | 1,346 | |||
Property, plant and equipment, net | 18,755 | 18,563 | 18,129 | |||
Assets | 23,466 | 22,885 | 22,973 | |||
MidAmerican Funding [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Sales revenue from energy operations | 3,762 | 3,413 | 3,247 | |||
Depreciation and amortization - energy operations | 351 | 403 | 393 | |||
Operating income (loss) | 423 | 357 | 369 | |||
Interest expense | 197 | 174 | 167 | |||
Income tax expense | -110 | -110 | -108 | |||
Capital expenditures | 1,527 | 1,027 | 645 | |||
Property, plant and equipment, net | 10,535 | 9,353 | 8,647 | |||
Assets | 15,368 | 13,992 | 13,355 | |||
NV Energy [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Sales revenue from energy operations | 3,241 | -20 | 0 | |||
Depreciation and amortization - energy operations | 379 | 0 | 0 | |||
Operating income (loss) | 791 | -42 | 0 | |||
Interest expense | 283 | 0 | 0 | |||
Income tax expense | 195 | -15 | 0 | |||
Capital expenditures | 558 | 0 | 0 | |||
Property, plant and equipment, net | 9,648 | 9,623 | 0 | |||
Assets | 14,454 | 14,233 | 0 | |||
Northern Powergrid [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Sales revenue from energy operations | 1,283 | 1,025 | 1,035 | |||
Depreciation and amortization - energy operations | 198 | 180 | 174 | |||
Operating income (loss) | 674 | 501 | 565 | |||
Interest expense | 151 | 141 | 139 | |||
Income tax expense | 110 | 23 | 31 | |||
Capital expenditures | 675 | 675 | 454 | |||
Property, plant and equipment, net | 5,599 | 5,476 | 4,923 | |||
Assets | 7,076 | 6,874 | 6,418 | |||
BHE Pipeline Group [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Sales revenue from energy operations | 1,078 | 952 | 968 | |||
Depreciation and amortization - energy operations | 196 | 190 | 193 | |||
Operating income (loss) | 439 | 446 | 465 | |||
Interest expense | 76 | 80 | 92 | |||
Income tax expense | 149 | 149 | 152 | |||
Capital expenditures | 257 | 177 | 152 | |||
Property, plant and equipment, net | 4,286 | 4,147 | 4,119 | |||
Assets | 4,968 | 4,908 | 4,865 | |||
BHE Transmission [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Sales revenue from energy operations | 62 | 0 | 0 | |||
Depreciation and amortization - energy operations | 13 | 0 | 0 | |||
Operating income (loss) | 16 | -5 | -2 | |||
Interest expense | 14 | 0 | 0 | |||
Income tax expense | 28 | 10 | 8 | |||
Capital expenditures | 222 | 0 | 0 | |||
Property, plant and equipment, net | 5,567 | 0 | 0 | |||
Assets | 7,992 | 465 | 368 | |||
BHE Renewables [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Sales revenue from energy operations | 623 | 355 | 166 | |||
Depreciation and amortization - energy operations | 152 | 71 | 33 | |||
Operating income (loss) | 314 | 223 | 93 | |||
Interest expense | 175 | 138 | 70 | |||
Income tax expense | 65 | 57 | 37 | |||
Capital expenditures | 2,221 | 1,329 | 770 | |||
Property, plant and equipment, net | 4,897 | 3,020 | 1,903 | |||
Assets | 6,123 | 3,875 | 3,342 | |||
HomeServices [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Real estate | 2,144 | 1,809 | 1,312 | |||
Depreciation and amortization | 29 | 33 | 19 | |||
Operating income (loss) | 125 | 129 | 62 | |||
Interest expense | 4 | 3 | 0 | |||
Income tax expense | 44 | 48 | 32 | |||
Capital expenditures | 17 | 21 | 8 | |||
Property, plant and equipment, net | 68 | 61 | 47 | |||
Assets | 1,629 | 1,381 | 899 | |||
BHE and Other [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Sales revenue from energy operations | -119 | [1] | -46 | [1] | -62 | [1] |
Depreciation and amortization - energy operations | -6 | [1] | -9 | [1] | -12 | [1] |
Operating income (loss) | -44 | [1] | -49 | [1] | -19 | [1] |
Interest expense | 425 | [1] | 296 | [1] | 315 | [1] |
Income tax expense | -202 | [1] | -330 | [1] | -200 | [1] |
Capital expenditures | 12 | 13 | 5 | |||
Property, plant and equipment, net | -107 | -124 | -154 | |||
Assets | 1,228 | 1,387 | 247 | |||
UNITED STATES | ||||||
Segment Reporting Information [Line Items] | ||||||
Total operating revenue | 15,857 | 11,465 | 10,388 | |||
Loss before income tax benefit and equity income | 2,001 | 1,388 | 1,060 | |||
Property, plant and equipment, net | 47,918 | 44,460 | 32,491 | |||
United Kingdom | ||||||
Segment Reporting Information [Line Items] | ||||||
Total operating revenue | 1,281 | 1,023 | 1,033 | |||
Loss before income tax benefit and equity income | 557 | 373 | 432 | |||
Property, plant and equipment, net | 5,584 | 5,463 | 4,915 | |||
CANADA | ||||||
Segment Reporting Information [Line Items] | ||||||
Total operating revenue | 78 | 16 | 0 | |||
Loss before income tax benefit and equity income | 4 | 0 | -4 | |||
Property, plant and equipment, net | 5,570 | 3 | 0 | |||
The Philippines and other [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Total operating revenue | 110 | 131 | 127 | |||
Loss before income tax benefit and equity income | 40 | 80 | 87 | |||
Property, plant and equipment, net | $176 | $193 | $208 | |||
[1] | (1)The differences between the reportable segment amounts and the consolidated amounts, described as BHE and Other, relate to other corporate entities, corporate functions andB intersegment eliminations. |
Segment_Information_Goodwill_D
Segment Information - Goodwill (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill [Roll Forward] | |||
Beginning balance | $7,527 | $5,120 | |
Acquisitions | 1,935 | 2,472 | 112 |
Foreign currency translation | -93 | 14 | |
Goodwill impairment | -53 | ||
Other | -26 | -26 | |
Ending balance | 9,343 | 7,527 | 5,120 |
PacifiCorp [Member] | |||
Goodwill [Roll Forward] | |||
Beginning balance | 1,129 | 1,126 | |
Acquisitions | 0 | 0 | |
Foreign currency translation | 0 | 0 | |
Goodwill impairment | 0 | ||
Other | 0 | 3 | |
Ending balance | 1,129 | 1,129 | |
MidAmerican Funding [Member] | |||
Goodwill [Roll Forward] | |||
Beginning balance | 2,102 | 2,102 | |
Acquisitions | 0 | 0 | |
Foreign currency translation | 0 | 0 | |
Goodwill impairment | 0 | ||
Other | 0 | 0 | |
Ending balance | 2,102 | 2,102 | |
NV Energy [Member] | |||
Goodwill [Roll Forward] | |||
Beginning balance | 2,280 | 0 | |
Acquisitions | 89 | 2,280 | |
Foreign currency translation | 0 | 0 | |
Goodwill impairment | 0 | ||
Other | 0 | 0 | |
Ending balance | 2,369 | 2,280 | |
Northern Powergrid [Member] | |||
Goodwill [Roll Forward] | |||
Beginning balance | 1,149 | 1,135 | |
Acquisitions | 0 | 0 | |
Foreign currency translation | -49 | 14 | |
Goodwill impairment | 0 | ||
Other | 0 | 0 | |
Ending balance | 1,100 | 1,149 | |
BHE Pipeline Group [Member] | |||
Goodwill [Roll Forward] | |||
Beginning balance | 153 | 179 | |
Acquisitions | 0 | 0 | |
Foreign currency translation | 0 | 0 | |
Goodwill impairment | 0 | ||
Other | -26 | -26 | |
Ending balance | 127 | 153 | |
BHE Transmission [Member] | |||
Goodwill [Roll Forward] | |||
Beginning balance | 0 | 0 | |
Acquisitions | 1,700 | 0 | |
Foreign currency translation | -43 | 0 | |
Goodwill impairment | 0 | ||
Other | 0 | 0 | |
Ending balance | 1,657 | 0 | |
BHE Renewables [Member] | |||
Goodwill [Roll Forward] | |||
Beginning balance | 15 | 71 | |
Acquisitions | 80 | 0 | |
Foreign currency translation | 0 | 0 | |
Goodwill impairment | -53 | ||
Other | 0 | -3 | |
Ending balance | 95 | 15 | |
HomeServices [Member] | |||
Goodwill [Roll Forward] | |||
Beginning balance | 695 | 507 | |
Acquisitions | 66 | 188 | |
Foreign currency translation | 0 | 0 | |
Goodwill impairment | 0 | ||
Other | 0 | 0 | |
Ending balance | 761 | 695 | |
Other [Member] | |||
Goodwill [Roll Forward] | |||
Beginning balance | 4 | 0 | |
Acquisitions | 0 | 4 | |
Foreign currency translation | -1 | 0 | |
Goodwill impairment | 0 | ||
Other | 0 | 0 | |
Ending balance | $3 | $4 |
Schedule_I_Condensed_Balance_S1
Schedule I Condensed Balance Sheets (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
In Millions, unless otherwise specified | ||||||
Current assets: | ||||||
Cash and cash equivalents | $617 | $1,175 | $776 | $286 | ||
Accounts receivable | 1,837 | 1,769 | ||||
Income tax receivable | 1,156 | 44 | ||||
Other current assets | 1,507 | 1,061 | ||||
Total current assets | 5,943 | 4,902 | ||||
Goodwill | 9,343 | 7,527 | 5,120 | |||
Other assets | 967 | 894 | ||||
Total assets | 82,304 | 70,000 | 52,467 | |||
Current liabilities: | ||||||
Short-term debt | 1,445 | [1] | 232 | [1] | ||
Total current liabilities | 7,112 | 4,964 | ||||
BHE senior debt | 7,860 | 6,366 | ||||
BHE junior subordinated debentures | 3,794 | 2,594 | ||||
Other long-term liabilities | 2,731 | 2,740 | ||||
Total liabilities | 61,731 | 51,184 | ||||
BHE shareholders' equity: | ||||||
Common stock - 115 shares authorized, no par value, 77 shares issued and outstanding | 0 | 0 | ||||
Additional paid-in capital | 6,423 | 6,390 | ||||
Retained earnings | 14,513 | 12,418 | ||||
Accumulated other comprehensive loss, net | -494 | -97 | ||||
Total BHE shareholders' equity | 20,442 | 18,711 | ||||
Noncontrolling interest | 131 | 105 | ||||
Total equity | 20,573 | 18,816 | 15,910 | 14,265 | ||
Total liabilities and equity | 82,304 | 70,000 | ||||
Parent [Member] | ||||||
Current assets: | ||||||
Cash and cash equivalents | 3 | 292 | 13 | 13 | ||
Accounts receivable | 22 | 0 | ||||
Income tax receivable | 152 | 2 | ||||
Other current assets | 1 | 7 | ||||
Total current assets | 178 | 301 | ||||
Investments in subsidiaries | 31,968 | 27,165 | ||||
Other investments | 1,038 | 1,247 | ||||
Goodwill | 1,221 | 1,221 | ||||
Other assets | 1,226 | 980 | ||||
Total assets | 35,631 | 30,914 | ||||
Current liabilities: | ||||||
Accounts payable and other current liabilities | 308 | 316 | ||||
Short-term debt | 395 | 0 | ||||
Current portion of senior debt | 0 | 250 | ||||
Total current liabilities | 703 | 566 | ||||
BHE senior debt | 7,860 | 6,366 | ||||
BHE junior subordinated debentures | 3,794 | 2,594 | ||||
Notes payable - affiliate | 1,981 | 2,010 | ||||
Other long-term liabilities | 839 | 657 | ||||
Total liabilities | 15,177 | 12,193 | ||||
BHE shareholders' equity: | ||||||
Common stock - 115 shares authorized, no par value, 77 shares issued and outstanding | 0 | 0 | ||||
Additional paid-in capital | 6,423 | 6,390 | ||||
Retained earnings | 14,513 | 12,418 | ||||
Accumulated other comprehensive loss, net | -494 | -97 | ||||
Total BHE shareholders' equity | 20,442 | 18,711 | ||||
Noncontrolling interest | 12 | 10 | ||||
Total equity | 20,454 | 18,721 | ||||
Total liabilities and equity | $35,631 | $30,914 | ||||
[1] | The above table does not include unused credit facilities and letters of credit for investments that are accounted for under the equity method. |
Schedule_I_Condensed_Statement
Schedule I Condensed Statements of Operations (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating costs and expenses: | |||
Depreciation and amortization | $2,057 | $1,560 | $1,455 |
Total operating costs and expenses | 13,280 | 9,800 | 8,981 |
Operating loss | 4,046 | 2,835 | 2,567 |
Other income (expense): | |||
Interest expense | -1,711 | -1,222 | -1,176 |
Other, net | 80 | 66 | 56 |
Total other income (expense) | -1,444 | -994 | -992 |
Loss before income tax benefit and equity income | 2,602 | 1,841 | 1,575 |
Income tax benefit | 589 | 130 | 148 |
Equity income | 109 | -35 | 68 |
Net income | 2,122 | 1,676 | 1,495 |
Net income attributable to noncontrolling interests | 27 | 40 | 23 |
Net income attributable to BHE shareholders | 2,095 | 1,636 | 1,472 |
Parent [Member] | |||
Operating costs and expenses: | |||
General and administration | 51 | 64 | 31 |
Depreciation and amortization | 3 | 1 | 1 |
Total operating costs and expenses | 54 | 65 | 32 |
Operating loss | -54 | -65 | -32 |
Other income (expense): | |||
Interest expense | -476 | -347 | -362 |
Other, net | 4 | 25 | 10 |
Total other income (expense) | -472 | -322 | -352 |
Loss before income tax benefit and equity income | -526 | -387 | -384 |
Income tax benefit | -221 | -345 | -201 |
Equity income | 2,402 | 1,679 | 1,656 |
Net income | 2,097 | 1,637 | 1,473 |
Net income attributable to noncontrolling interests | 2 | 1 | 1 |
Net income attributable to BHE shareholders | $2,095 | $1,636 | $1,472 |
Schedule_I_Condensed_Statement1
Schedule I Condensed Statements of Comprehensive Income Schedule I Condensed Statements of Comprehensive Income (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Condensed Financial Statements, Captions [Line Items] | |||
Net income | $2,122 | $1,676 | $1,495 |
Other comprehensive (loss) income, net of tax | -397 | 366 | 178 |
Comprehensive income | 1,725 | 2,042 | 1,673 |
Comprehensive income attributable to noncontrolling interests | 27 | 40 | 23 |
Comprehensive income attributable to BHE shareholders | 1,698 | 2,002 | 1,650 |
Parent [Member] | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net income | 2,097 | 1,637 | 1,473 |
Other comprehensive (loss) income, net of tax | -397 | 366 | 178 |
Comprehensive income | 1,700 | 2,003 | 1,651 |
Comprehensive income attributable to noncontrolling interests | 2 | 1 | 1 |
Comprehensive income attributable to BHE shareholders | $1,698 | $2,002 | $1,650 |
Schedule_I_Condensed_Statement2
Schedule I Condensed Statements of Cash Flows Schedule I Condensed Statements of Cash Flows (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Condensed Financial Statements, Captions [Line Items] | |||
Cash flows from operating activities | $5,146 | $4,669 | $4,327 |
Cash flows from investing activities: | |||
Purchases of available-for-sale securities | -150 | -228 | -110 |
Proceeds from sale of available-for-sale securities | 118 | 191 | 88 |
Other, net | -11 | 13 | 53 |
Net cash flows from investing activities | -9,418 | -10,194 | -4,321 |
Cash flows from financing activities: | |||
Proceeds from BHE senior debt | 1,493 | 1,994 | 0 |
Proceeds from BHE junior subordinated debentures | 1,500 | 2,594 | 0 |
Proceeds from issuance of BHE common stock | 0 | 1,000 | 0 |
Net proceeds from (repayments of) short-term debt | 1,055 | -849 | -6 |
Other, net | -74 | -153 | -57 |
Net cash flows from financing activities | 3,725 | 5,926 | 477 |
Net change in cash and cash equivalents | -558 | 399 | 490 |
Cash and cash equivalents at beginning of period | 1,175 | 776 | 286 |
Cash and cash equivalents at end of period | 617 | 1,175 | 776 |
Parent [Member] | |||
Condensed Financial Statements, Captions [Line Items] | |||
Cash flows from operating activities | 1,937 | 2,295 | 1,019 |
Cash flows from investing activities: | |||
Investments in subsidiaries | -4,937 | -6,522 | -1,164 |
Purchases of available-for-sale securities | -56 | -106 | -46 |
Proceeds from sale of available-for-sale securities | 35 | 89 | 42 |
Notes receivable from affiliate, net | -55 | -37 | -15 |
Other, net | -7 | -16 | -8 |
Net cash flows from investing activities | -5,020 | -6,592 | -1,191 |
Cash flows from financing activities: | |||
Proceeds from BHE senior debt | 1,493 | 1,994 | 0 |
Proceeds from BHE junior subordinated debentures | 1,500 | 2,594 | 0 |
Proceeds from issuance of BHE common stock | 0 | 1,000 | 0 |
Repayments of BHE senior debt | -250 | 0 | -750 |
Repayments of BHE subordinated debt | -300 | 0 | -22 |
Net proceeds from (repayments of) short-term debt | 395 | -825 | 717 |
Notes payable to affiliate, net | -30 | -173 | 220 |
Other, net | -14 | -14 | 7 |
Net cash flows from financing activities | 2,794 | 4,576 | 172 |
Net change in cash and cash equivalents | -289 | 279 | 0 |
Cash and cash equivalents at beginning of period | 292 | 13 | 13 |
Cash and cash equivalents at end of period | $3 | $292 | $13 |
Condensed_Financial_Statements1
Condensed Financial Statements - Other Investments (Details) (BYD Company Limited common stock [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Available-for-sale securities, equity ecurities | $881 | $1,103 |
Available-for-sale securities, gross unrealized gain (loss) | 649 | 871 |
Parent [Member] | ||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Available-for-sale securities, equity ecurities | 881 | 1,100 |
Available-for-sale securities, gross unrealized gain (loss) | $649 | $871 |
Condensed_Financial_Statements2
Condensed Financial Statements - Dividends and Distributions (Details) (Parent [Member], USD $) | 12 Months Ended | 2 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 28, 2015 |
Distribution [Line Items] | ||||
Proceeds from dividends received | $2,300 | $2,500 | $1,100 | |
Subsequent Event [Member] | ||||
Distribution [Line Items] | ||||
Proceeds from dividends received | $58 |
Condensed_Financial_Statements3
Condensed Financial Statements - Guarantees (Details) (Parent [Member], USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Parent [Member] | |
Debt Instrument [Line Items] | |
Guarantor obligations, related party disclosure | $37 |
Schedule_II_Consolidated_Valua1
Schedule II Consolidated Valuation and Qualifying Accounts (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Reserve for uncollectible accounts receivable [Member] | ||||||
Movement in Valuation Allowances and Reserves [Roll Forward] | ||||||
Balance at Beginning of Year | $33 | $22 | $21 | |||
Charged to income | 37 | 23 | 22 | |||
Acquisition reserves | 0 | [1] | 9 | [1] | 0 | [1] |
Deductions | -33 | -21 | -21 | |||
Balance at End of Year | 37 | 33 | 22 | |||
Reserves not deducted from assets [Member] | ||||||
Movement in Valuation Allowances and Reserves [Roll Forward] | ||||||
Balance at Beginning of Year | 9 | [2] | 9 | [2] | 8 | [2] |
Charged to income | 12 | [2] | 6 | [2] | 6 | [2] |
Acquisition reserves | 0 | [1],[2] | 0 | [1],[2] | 0 | [1],[2] |
Deductions | -10 | [2] | -6 | [2] | -5 | [2] |
Balance at End of Year | $11 | [2] | $9 | [2] | $9 | [2] |
[1] | Acquisition reserves represent the reserves recorded at NV Energy, Inc. at the date of acquisition. | |||||
[2] | Reserves not deducted from assets relate primarily to estimated liabilities for losses retained by BHE for workers compensation, public liability and property damage claims. |