Document_and_Entity_Informatio
Document and Entity Information (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Apr. 30, 2015 | Jun. 30, 2014 | |
Document Information [Line Items] | |||
Document Type | 10-Q | ||
Amendment Flag | FALSE | ||
Document Period End Date | 31-Mar-15 | ||
Document Fiscal Year Focus | 2015 | ||
Document Fiscal Period Focus | Q1 | ||
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 Public Float | $0 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $507 | $617 |
Trade receivables, net | 1,766 | 1,837 |
Income taxes receivable | 1,269 | 1,156 |
Inventories | 790 | 826 |
Mortgage loans held for sale | 373 | 286 |
Other current assets | 1,085 | 1,221 |
Total current assets | 5,790 | 5,943 |
Property, plant and equipment, net | 58,987 | 59,248 |
Goodwill | 9,186 | 9,343 |
Regulatory assets | 4,015 | 4,000 |
Investments and restricted cash and investments | 3,118 | 2,803 |
Other assets | 1,177 | 967 |
Total assets | 82,273 | 82,304 |
Current liabilities: | ||
Accounts payable | 1,614 | 1,991 |
Accrued interest | 476 | 454 |
Accrued property, income and other taxes | 381 | 366 |
Accrued employee expenses | 277 | 255 |
Short-term debt | 1,581 | 1,445 |
Current portion of long-term debt | 1,189 | 1,232 |
Other current liabilities | 1,489 | 1,369 |
Total current liabilities | 7,007 | 7,112 |
Regulatory liabilities | 2,703 | 2,669 |
BHE senior debt | 7,860 | 7,860 |
BHE junior subordinated debentures | 3,794 | 3,794 |
Subsidiary debt | 25,508 | 25,763 |
Deferred income taxes | 11,870 | 11,802 |
Other long-term liabilities | 2,696 | 2,731 |
Total liabilities | 61,438 | 61,731 |
Commitments and contingencies (Note 11) | ||
BHE shareholders' equity: | ||
Common stock - 115 shares authorized, no par value, 77 shares issued and outstanding | 0 | 0 |
Additional paid-in capital | 6,420 | 6,423 |
Retained earnings | 15,005 | 14,513 |
Accumulated other comprehensive loss, net | -729 | -494 |
Total BHE shareholders' equity | 20,696 | 20,442 |
Noncontrolling interests | 139 | 131 |
Total equity | 20,835 | 20,573 |
Total liabilities and equity | $82,273 | $82,304 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
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 $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Operating revenue: | ||
Energy | $3,773 | $3,891 |
Real estate | 448 | 358 |
Total operating revenue | 4,221 | 4,249 |
Energy: | ||
Cost of sales | 1,354 | 1,632 |
Operating expense | 906 | 822 |
Depreciation and amortization | 581 | 475 |
Real estate | 450 | 370 |
Total operating costs and expenses | 3,291 | 3,299 |
Operating income | 930 | 950 |
Other income (expense): | ||
Interest expense | -472 | -418 |
Capitalized interest | 29 | 29 |
Allowance for equity funds | 31 | 27 |
Interest and dividend income | 26 | 9 |
Other, net | 26 | 7 |
Total other income (expense) | -360 | -346 |
Income before income tax expense and equity income | 570 | 604 |
Income tax expense | 123 | 112 |
Equity income | 26 | 15 |
Net income | 473 | 507 |
Net income attributable to noncontrolling interests | 4 | 4 |
Net income attributable to BHE shareholders | $469 | $503 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Net income | $473 | $507 |
Other comprehensive (loss) income, net of tax: | ||
Unrecognized amounts on retirement benefits, net of tax of $8 and $1 | 22 | 7 |
Foreign currency translation adjustment | -424 | 29 |
Unrealized gains on available-for-sale securities, net of tax of $113 and $116 | 166 | 173 |
Unrealized gains on cash flow hedges, net of tax of $1 and $9 | 1 | 13 |
Total other comprehensive (loss) income, net of tax | -235 | 222 |
Comprehensive income | 238 | 729 |
Comprehensive income attributable to noncontrolling interests | 4 | 4 |
Comprehensive income attributable to BHE shareholders | $234 | $725 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Unrecognized amounts on retirement benefits, tax | $8 | $1 |
Unrealized gains on available-for-sale securities, tax | 113 | 116 |
Unrealized gains on cash flow hedges, tax | $1 | $9 |
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 (Loss) Income, Net [Member] | Noncontrolling Interest [Member] |
In Millions, unless otherwise specified | ||||||
Balance at Dec. 31, 2013 | $18,816 | $0 | $6,390 | $12,418 | ($97) | $105 |
Balance (shares) at Dec. 31, 2013 | 77 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income | 506 | 0 | 0 | 503 | 0 | 3 |
Other comprehensive income (loss) | 222 | 0 | 0 | 0 | 222 | 0 |
Distributions | -6 | 0 | 0 | 0 | 0 | -6 |
Balance at Mar. 31, 2014 | 19,538 | 0 | 6,390 | 12,921 | 125 | 102 |
Balance (shares) at Mar. 31, 2014 | 77 | |||||
Balance at Dec. 31, 2014 | 20,573 | 0 | 6,423 | 14,513 | -494 | 131 |
Balance (shares) at Dec. 31, 2014 | 77 | 77 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income | 472 | 0 | 0 | 469 | 0 | 3 |
Other comprehensive income (loss) | -235 | 0 | 0 | 0 | -235 | 0 |
Distributions | -6 | 0 | 0 | 0 | 0 | -6 |
Adoption of ASC 853 | 67 | 0 | 0 | 56 | 0 | 11 |
Common stock purchases | -36 | 0 | -3 | -33 | 0 | 0 |
Balance at Mar. 31, 2015 | $20,835 | $0 | $6,420 | $15,005 | ($729) | $139 |
Balance (shares) at Mar. 31, 2015 | 77 | 77 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Cash flows from operating activities: | ||
Net income | $473 | $507 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation and amortization | 587 | 482 |
Allowance for equity funds | -31 | -27 |
Changes in regulatory assets and liabilities | 152 | -27 |
Deferred income taxes and amortization of investment tax credits | 206 | 150 |
Other, net | -35 | 33 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | ||
Trade receivables and other assets | -18 | -16 |
Derivative collateral, net | -21 | -21 |
Pension and other postretirement benefit plans | -4 | -9 |
Accrued property, income and other taxes | -99 | -52 |
Accounts payable and other liabilities | -103 | 6 |
Net cash flows from operating activities | 1,107 | 1,026 |
Cash flows from investing activities: | ||
Capital expenditures | -1,426 | -1,183 |
Acquisitions, net of cash acquired | -59 | 0 |
Decrease in restricted cash and investments | 12 | 219 |
Purchases of available-for-sale securities | -68 | -84 |
Proceeds from sales of available-for-sale securities | 57 | 59 |
Equity method investments | -12 | -4 |
Other, net | 41 | 4 |
Net cash flows from investing activities | -1,455 | -989 |
Cash flows from financing activities: | ||
Repayments of BHE senior debt | 0 | -250 |
Common stock purchases | -36 | 0 |
Proceeds from subsidiary debt | 484 | 425 |
Repayments of subsidiary debt | -353 | -50 |
Net proceeds from (repayments of) short-term debt | 163 | -22 |
Other, net | -19 | -22 |
Net cash flows from financing activities | 239 | 81 |
Effect of exchange rate changes | -1 | -1 |
Net change in cash and cash equivalents | -110 | 117 |
Cash and cash equivalents at beginning of period | 617 | 1,175 |
Cash and cash equivalents at end of period | $507 | $1,292 |
General
General | 3 Months Ended | |
Mar. 31, 2015 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ||
-1 | General | |
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), BHE 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 one of the largest residential real estate brokerage franchise networks in the United States. | ||
The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of March 31, 2015 and for the three-month periods ended March 31, 2015 and 2014. The results of operations for the three-month period ended March 31, 2015 are not necessarily indicative of the results to be expected for the full year. | ||
The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. Note 2 of Notes to Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014 describes the most significant accounting policies used in the preparation of the unaudited Consolidated Financial Statements. There have been no significant changes in the Company's assumptions regarding significant accounting estimates and policies during the three-month period ended March 31, 2015. |
New_Accounting_Pronouncements
New Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Accounting Changes [Text Block] | (2) New Accounting Pronouncements |
In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2015-03, which amends FASB Accounting Standards Codification ("ASC") Subtopic 835-30, "Interest - Imputation of Interest." The amendments in this guidance require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability instead of as an asset. This guidance is effective for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted. This guidance must be adopted retrospectively, wherein the balance sheet of each period presented should be adjusted to reflect the new guidance. 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 May 2014, the FASB issued ASU No. 2014-09, which creates FASB 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" ("ASC 853"). 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. The Company adopted this guidance effective January 1, 2015 under a modified retrospective method where the cumulative effect is recognized at the date of initial application. The adoption resulted in the establishment of a financial asset with a related recognition of interest income, the elimination of a portion of previously recognized property, plant and equipment, the elimination of recognizing guaranteed water and energy delivery fees in operating revenue and increases to retained earnings attributable to the Company of $56 million and noncontrolling interests of $11 million. |
Business_Acquisitions
Business Acquisitions | 3 Months Ended | ||||
Mar. 31, 2015 | |||||
Business Combinations [Abstract] | |||||
Business Combination Disclosure [Text Block] | |||||
-3 | Business Acquisitions | ||||
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, between BHE and SNC-Lavalin Group Inc. ("SNC-Lavalin"), BHE paid C$3.1 billion (US$2.7 billion) in cash to 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. | |||||
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 | 1,731 | ||||
Other long-term assets | 128 | ||||
Total assets | 7,643 | ||||
Current liabilities, including current portion of long-term debt of $79 | 866 | ||||
Subsidiary debt, less current portion | 3,772 | ||||
Deferred income taxes | 95 | ||||
Other long-term liabilities | 182 | ||||
Total liabilities | 4,915 | ||||
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): | |||||
Three-Month Period | |||||
Ended March 31, 2014 | |||||
Operating revenue | $ | 4,383 | |||
Net income attributable to BHE shareholders | $ | 515 | |||
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. |
Property_Plant_and_Equipment_N
Property, Plant and Equipment, Net | 3 Months Ended | |||||||||
Mar. 31, 2015 | ||||||||||
Property, Plant and Equipment, Net [Abstract] | ||||||||||
Property, Plant and Equipment Disclosure [Text Block] | ||||||||||
-4 | Property, Plant and Equipment, Net | |||||||||
Property, plant and equipment, net consists of the following (in millions): | ||||||||||
As of | ||||||||||
Depreciable | March 31, | December 31, | ||||||||
Life | 2015 | 2014 | ||||||||
Regulated assets: | ||||||||||
Utility generation, distribution and transmission system | 5-80 years | $ | 64,477 | $ | 64,645 | |||||
Interstate pipeline assets | 3-80 years | 6,722 | 6,660 | |||||||
71,199 | 71,305 | |||||||||
Accumulated depreciation and amortization | (21,668 | ) | (21,447 | ) | ||||||
Regulated assets, net | 49,531 | 49,858 | ||||||||
Nonregulated assets: | ||||||||||
Independent power plants | 5-30 years | 4,537 | 4,362 | |||||||
Other assets | 3-30 years | 738 | 673 | |||||||
5,275 | 5,035 | |||||||||
Accumulated depreciation and amortization | (617 | ) | (839 | ) | ||||||
Nonregulated assets, net | 4,658 | 4,196 | ||||||||
Net operating assets | 54,189 | 54,054 | ||||||||
Construction work-in-progress | 4,798 | 5,194 | ||||||||
Property, plant and equipment, net | $ | 58,987 | $ | 59,248 | ||||||
Construction work-in-progress includes $4.4 billion and $4.3 billion as of March 31, 2015 and December 31, 2014, respectively, related to the construction of regulated assets. |
Investments_and_Restricted_Cas
Investments and Restricted Cash and Investments | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Investments and Restricted Cash and Investments [Abstract] | ||||||||
Investments and Restricted Cash and Investments [Text Block] | ||||||||
-5 | Investments and Restricted Cash and Investments | |||||||
Investments and restricted cash and investments consists of the following (in millions): | ||||||||
As of | ||||||||
March 31, | December 31, | |||||||
2015 | 2014 | |||||||
Investments: | ||||||||
BYD Company Limited common stock | $ | 1,158 | $ | 881 | ||||
Rabbi trusts | 386 | 386 | ||||||
Other | 148 | 126 | ||||||
Total investments | 1,692 | 1,393 | ||||||
Equity method investments: | ||||||||
Electric Transmission Texas, LLC | 536 | 515 | ||||||
Bridger Coal Company | 188 | 192 | ||||||
Agua Caliente Solar, LLC | 83 | 81 | ||||||
Other | 97 | 80 | ||||||
Total equity method investments | 904 | 868 | ||||||
Restricted cash and investments: | ||||||||
Quad Cities Station nuclear decommissioning trust funds | 430 | 424 | ||||||
Solar Star and Topaz Projects | 47 | 66 | ||||||
Other | 167 | 167 | ||||||
Total restricted cash and investments | 644 | 657 | ||||||
Total investments and restricted cash and investments | $ | 3,240 | $ | 2,918 | ||||
Reflected as: | ||||||||
Current assets | $ | 122 | $ | 115 | ||||
Noncurrent assets | 3,118 | 2,803 | ||||||
Total investments and restricted cash and investments | $ | 3,240 | $ | 2,918 | ||||
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 accumulated other comprehensive income (loss) ("AOCI"). As of March 31, 2015 and December 31, 2014, the fair value of BHE's investment in BYD Company Limited common stock was $1.2 billion and $881 million, respectively, which resulted in a pre-tax unrealized gain of $926 million and $649 million as of March 31, 2015 and December 31, 2014, respectively. |
Recent_Financing_Transactions
Recent Financing Transactions | 3 Months Ended | |
Mar. 31, 2015 | ||
Debt Disclosure [Abstract] | ||
Debt Disclosure [Text Block] | ||
-6 | Recent Financing Transactions | |
Long-Term Debt | ||
In March 2015, Solar Star Funding, LLC issued $325 million of its 3.95% Series B Senior Secured Notes. The principal of the notes amortizes beginning June 2016 with a final maturity in June 2035. The net proceeds were used to fund the repayment or reimbursement of amounts provided by BHE for the costs related to the development, construction and financing of a combined 579-megawatt solar project in California (the "Solar Star Projects"). | ||
In March 2015, AltaLink Investments, L.P. issued C$200 million of its 2.244% Series 15-1 Senior Bonds due March 2022. The net proceeds will be used to repay short-term debt, provide equity to ALP and for general corporate purposes. | ||
In April 2015, Northern Powergrid (Yorkshire) plc issued £150 million of its 2.50% Bonds due April 2025. The net proceeds will be used for general corporate purposes. | ||
Credit Facilities | ||
In March 2015, Topaz Solar Farms LLC amended its $345 million letter of credit facility reducing the amount available to $326 million and extending the maturity date to March 2025. As of March 31, 2015, Topaz had $316 million of letters of credit issued under this facility. | ||
In March 2015, PacifiCorp obtained $191 million of letters of credit to support variable-rate tax-exempt bond obligations. These letters of credit expire through March 2017 and replace certain letters of credit previously issued under one of the credit facilities. Also, in March 2015, PacifiCorp arranged for the cancellation of $23 million of letters of credit previously issued under one of the credit facilities to support variable-rate tax-exempt bond obligations. | ||
As of March 31, 2015, PacifiCorp had $428 million of fully available letters of credit issued under committed arrangements to support variable-rate tax-exempt bond obligations, of which $56 million were issued under credit facilities. |
Income_Taxes
Income Taxes | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Income Tax Disclosure [Abstract] | ||||||
Income Tax Disclosure [Text Block] | ||||||
-7 | Income Taxes | |||||
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: | ||||||
Three-Month Periods | ||||||
Ended March 31, | ||||||
2015 | 2014 | |||||
Federal statutory income tax rate | 35 | % | 35 | % | ||
Income tax credits | (11 | ) | (15 | ) | ||
State income tax, net of federal income tax benefit | 2 | 1 | ||||
Income tax effect of foreign income | (4 | ) | (3 | ) | ||
Equity income | 2 | 1 | ||||
Other, net | (2 | ) | — | |||
Effective income tax rate | 22 | % | 19 | % | ||
Income tax credits relate primarily to production tax credits earned by wind-powered generating facilities owned by MidAmerican Energy, PacifiCorp, Bishop Hill Energy II LLC and Jumbo Road Holdings, 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. | ||||||
Berkshire Hathaway includes the Company in its United States federal income tax return. For the three-month periods ended March 31, 2015 and 2014, the Company did not receive or make any cash payments for income taxes from or to Berkshire Hathaway. |
Employee_Benefit_Plans
Employee Benefit Plans | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | ||||||||
-8 | Employee Benefit Plans | |||||||
Domestic Operations | ||||||||
Net periodic benefit cost for the domestic pension and other postretirement benefit plans included the following components (in millions): | ||||||||
Three-Month Periods | ||||||||
Ended March 31, | ||||||||
2015 | 2014 | |||||||
Pension: | ||||||||
Service cost | $ | 8 | $ | 8 | ||||
Interest cost | 30 | 33 | ||||||
Expected return on plan assets | (42 | ) | (41 | ) | ||||
Net amortization | 13 | 11 | ||||||
Net periodic benefit cost | $ | 9 | $ | 11 | ||||
Other postretirement: | ||||||||
Service cost | $ | 4 | $ | 3 | ||||
Interest cost | 7 | 11 | ||||||
Expected return on plan assets | (12 | ) | (13 | ) | ||||
Net amortization | (3 | ) | (1 | ) | ||||
Net periodic benefit cost | $ | (4 | ) | $ | — | |||
Employer contributions to the domestic pension and other postretirement benefit plans are expected to be $34 million and $1 million, respectively, during 2015. As of March 31, 2015, $3 million and $- million of contributions had been made to the domestic pension and other postretirement benefit plans, respectively. | ||||||||
Foreign Operations | ||||||||
Net periodic benefit cost for the United Kingdom pension plan included the following components (in millions): | ||||||||
Three-Month Periods | ||||||||
Ended March 31, | ||||||||
2015 | 2014 | |||||||
Service cost | $ | 6 | $ | 6 | ||||
Interest cost | 20 | 24 | ||||||
Expected return on plan assets | (29 | ) | (31 | ) | ||||
Net amortization | 16 | 13 | ||||||
Net periodic benefit cost | $ | 13 | $ | 12 | ||||
Employer contributions to the United Kingdom pension plan are expected to be £49 million during 2015. As of March 31, 2015, £13 million, or $20 million, of contributions had been made to the United Kingdom pension plan. |
Risk_Management_and_Hedging_Ac
Risk Management and Hedging Activities | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ||||||||||||||||||||
-9 | 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 PacifiCorp, MidAmerican Energy, Nevada Power and Sierra Pacific (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, which creates contractual obligations to provide electric and natural gas services. 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 Note 10 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 March 31, 2015 | ||||||||||||||||||||
Not designated as hedging contracts: | ||||||||||||||||||||
Commodity assets(1) | $ | 23 | $ | 73 | $ | 12 | $ | — | $ | 108 | ||||||||||
Commodity liabilities(1) | — | (1 | ) | (119 | ) | (173 | ) | (293 | ) | |||||||||||
Interest rate assets | 9 | — | — | — | 9 | |||||||||||||||
Interest rate liabilities | — | — | (4 | ) | (6 | ) | (10 | ) | ||||||||||||
Total | 32 | 72 | (111 | ) | (179 | ) | (186 | ) | ||||||||||||
Designated as hedging contracts: | ||||||||||||||||||||
Commodity assets | 3 | — | 4 | 1 | 8 | |||||||||||||||
Commodity liabilities | — | — | (20 | ) | (19 | ) | (39 | ) | ||||||||||||
Interest rate assets | — | — | — | — | — | |||||||||||||||
Interest rate liabilities | — | — | (4 | ) | (2 | ) | (6 | ) | ||||||||||||
Total | 3 | — | (20 | ) | (20 | ) | (37 | ) | ||||||||||||
Total derivatives | 35 | 72 | (131 | ) | (199 | ) | (223 | ) | ||||||||||||
Cash collateral receivable | — | — | 42 | 51 | 93 | |||||||||||||||
Total derivatives - net basis | $ | 35 | $ | 72 | $ | (89 | ) | $ | (148 | ) | $ | (130 | ) | |||||||
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 receivable | — | — | 56 | 19 | 75 | |||||||||||||||
Total derivatives - net basis | $ | 41 | $ | 67 | $ | (97 | ) | $ | (133 | ) | $ | (122 | ) | |||||||
-1 | The Company's commodity derivatives not designated as hedging contracts are generally included in regulated rates, and as of March 31, 2015 and December 31, 2014, a net regulatory asset of $255 million and $223 million, respectively, was recorded related to the net derivative liability of $185 million and $156 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 (in millions): | ||||||||||||||||||||
Three-Month Periods | ||||||||||||||||||||
Ended March 31, | ||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||
Beginning balance | $ | 223 | $ | 182 | ||||||||||||||||
Changes in fair value recognized in net regulatory assets | 60 | 4 | ||||||||||||||||||
Net gains (losses) reclassified to operating revenue | 9 | (30 | ) | |||||||||||||||||
Net (losses) gains reclassified to cost of sales | (37 | ) | 3 | |||||||||||||||||
Ending balance | $ | 255 | $ | 159 | ||||||||||||||||
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 accumulated other comprehensive (income) loss (pre-tax) and summarizes pre-tax gains and losses on commodity derivative contracts designated and qualifying as cash flow hedges recognized in other comprehensive income ("OCI"), as well as amounts reclassified to earnings (in millions): | ||||||||||||||||||||
Three-Month Periods | ||||||||||||||||||||
Ended March 31, | ||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||
Beginning balance | $ | 32 | $ | 12 | ||||||||||||||||
Changes in fair value recognized in OCI | (8 | ) | (59 | ) | ||||||||||||||||
Net gains reclassified to operating revenue | 1 | — | ||||||||||||||||||
Net gains reclassified to cost of sales | 2 | 35 | ||||||||||||||||||
Ending balance | $ | 27 | $ | (12 | ) | |||||||||||||||
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 three-month periods ended March 31, 2015 and 2014, hedge ineffectiveness was insignificant. As of March 31, 2015, the Company had cash flow hedges with expiration dates extending through December 2019 and $14 million of pre-tax net unrealized losses are forecasted to be reclassified from AOCI into earnings over the next twelve months as contracts settle. | ||||||||||||||||||||
Derivative Contract Volumes | ||||||||||||||||||||
The following table summarizes the net notional amounts of outstanding derivative contracts with fixed price terms that comprise the mark-to-market values as of (in millions): | ||||||||||||||||||||
Unit of | March 31, | December 31, | ||||||||||||||||||
Measure | 2015 | 2014 | ||||||||||||||||||
Electricity purchases | Megawatt hours | 9 | 6 | |||||||||||||||||
Natural gas purchases | Decatherms | 352 | 308 | |||||||||||||||||
Fuel purchases | Gallons | 10 | 2 | |||||||||||||||||
Interest rate swaps | US$ | 443 | 443 | |||||||||||||||||
Mortgage sale commitments, net | US$ | (341 | ) | (264 | ) | |||||||||||||||
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 March 31, 2015, 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 $264 million and $243 million as of March 31, 2015 and December 31, 2014, respectively, for which the Company had posted collateral of $64 million and $28 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 March 31, 2015 and December 31, 2014, the Company would have been required to post $186 million and $182 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
Fair Value Measurements | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||
Fair Value Disclosures [Text Block] | |||||||||||||||||||||
-10 | 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 March 31, 2015 | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Commodity derivatives | $ | — | $ | 28 | $ | 88 | $ | (18 | ) | $ | 98 | ||||||||||
Interest rate derivatives | — | 1 | 8 | — | 9 | ||||||||||||||||
Mortgage loans held for sale | — | 361 | — | — | 361 | ||||||||||||||||
Money market mutual funds(2) | 325 | — | — | — | 325 | ||||||||||||||||
Debt securities: | |||||||||||||||||||||
United States government obligations | 140 | — | — | — | 140 | ||||||||||||||||
International government obligations | — | 1 | — | — | 1 | ||||||||||||||||
Corporate obligations | — | 38 | — | — | 38 | ||||||||||||||||
Municipal obligations | — | 2 | — | — | 2 | ||||||||||||||||
Agency, asset and mortgage-backed obligations | — | 2 | — | — | 2 | ||||||||||||||||
Auction rate securities | — | — | 44 | — | 44 | ||||||||||||||||
Equity securities: | |||||||||||||||||||||
United States companies | 241 | — | — | — | 241 | ||||||||||||||||
International companies | 1,163 | — | — | — | 1,163 | ||||||||||||||||
Investment funds | 161 | — | — | — | 161 | ||||||||||||||||
$ | 2,030 | $ | 433 | $ | 140 | $ | (18 | ) | $ | 2,585 | |||||||||||
Liabilities: | |||||||||||||||||||||
Commodity derivatives | $ | (17 | ) | $ | (276 | ) | $ | (39 | ) | $ | 111 | $ | (221 | ) | |||||||
Interest rate derivatives | (1 | ) | (15 | ) | — | — | (16 | ) | |||||||||||||
$ | (18 | ) | $ | (291 | ) | $ | (39 | ) | $ | 111 | $ | (237 | ) | ||||||||
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 | ) | ||||||||
-1 | Represents netting under master netting arrangements and a net cash collateral receivable of $93 million and $75 million as of March 31, 2015 and December 31, 2014, 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 9 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 (in millions): | |||||||||||||||||||||
Three-Month Periods | |||||||||||||||||||||
Ended March 31, | |||||||||||||||||||||
Interest | Auction | ||||||||||||||||||||
Commodity | Rate | Rate | |||||||||||||||||||
Derivatives | Derivatives | Securities | |||||||||||||||||||
2015:00:00 | |||||||||||||||||||||
Beginning balance | $ | 51 | $ | — | $ | 45 | |||||||||||||||
Changes included in earnings | 8 | 21 | — | ||||||||||||||||||
Changes in fair value recognized in OCI | 1 | — | (1 | ) | |||||||||||||||||
Changes in fair value recognized in net regulatory assets | (3 | ) | — | — | |||||||||||||||||
Settlements | (8 | ) | (16 | ) | — | ||||||||||||||||
Transfers from Level 2 | — | 3 | — | ||||||||||||||||||
Ending balance | $ | 49 | $ | 8 | $ | 44 | |||||||||||||||
2014:00:00 | |||||||||||||||||||||
Beginning balance | $ | 60 | $ | — | $ | 44 | |||||||||||||||
Changes included in earnings | (17 | ) | — | — | |||||||||||||||||
Changes in fair value recognized in OCI | 3 | — | 1 | ||||||||||||||||||
Changes in fair value recognized in net regulatory assets | 2 | — | — | ||||||||||||||||||
Transfers from Level 2 | (35 | ) | — | — | |||||||||||||||||
Ending balance | $ | 13 | $ | — | $ | 45 | |||||||||||||||
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 (in millions): | |||||||||||||||||||||
As of March 31, 2015 | As of December 31, 2014 | ||||||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||||||
Value | Value | Value | Value | ||||||||||||||||||
Long-term debt | $ | 38,351 | $ | 44,466 | $ | 38,649 | $ | 43,863 | |||||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended | |
Mar. 31, 2015 | ||
Commitments and Contingencies Disclosure [Abstract] | ||
Commitments Contingencies and Guarantees [Text Block] | ||
-11 | 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 March 31, 2015, PacifiCorp had accrued $120 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 Solar Star Projects, which are a combined 579-MW solar project in California, are in construction and are expected to be placed in-service by June 30, 2015. BHE has committed to provide Solar Star Funding, LLC and its subsidiaries with equity to fund the costs of the Solar Star Projects in an amount up to $2.75 billion, 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 March 31, 2015, the remaining equity commitment for the Solar Star Projects is $528 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 obligation under the equity commitment agreement 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 document. Upon reaching the project completion date of the Solar Star Projects, BHE will have no further obligation to make any equity contributions and any unused equity contribution obligation will be canceled under the equity commitment agreement. | ||
In March 2015, the equity commitment for the Topaz Project was canceled as the project reached the project completion date. | ||
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. | ||
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. |
Components_of_Accumulated_Othe
Components of Accumulated Other Comprehensive Loss, Net | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||||||||||||||||||
Components of Accumulated Other Comprehensive Loss, Net [Text Block] | |||||||||||||||||||||
-12 | Components of Other Comprehensive Income (Loss), Net | ||||||||||||||||||||
The following table shows the change in AOCI attributable to BHE shareholders by each component of OCI, net of applicable income taxes (in millions): | |||||||||||||||||||||
Unrealized | |||||||||||||||||||||
Unrecognized | Foreign | Gains on | Unrealized | AOCI | |||||||||||||||||
Amounts on | Currency | Available- | Gains on | Attributable | |||||||||||||||||
Retirement | Translation | For-Sale | Cash Flow | To BHE | |||||||||||||||||
Benefits | Adjustment | Securities | Hedges | Shareholders, Net | |||||||||||||||||
Balance, December 31, 2013 | $ | (559 | ) | $ | (98 | ) | $ | 524 | $ | 36 | $ | (97 | ) | ||||||||
Other comprehensive income | 7 | 29 | 173 | 13 | 222 | ||||||||||||||||
Balance, March 31, 2014 | $ | (552 | ) | $ | (69 | ) | $ | 697 | $ | 49 | $ | 125 | |||||||||
Balance, December 31, 2014 | $ | (490 | ) | $ | (412 | ) | $ | 390 | $ | 18 | $ | (494 | ) | ||||||||
Other comprehensive income (loss) | 22 | (424 | ) | 166 | 1 | (235 | ) | ||||||||||||||
Balance, March 31, 2015 | $ | (468 | ) | $ | (836 | ) | $ | 556 | $ | 19 | $ | (729 | ) | ||||||||
Reclassifications from AOCI to net income for the periods ended March 31, 2015 and 2014 were insignificant. For information regarding cash flow hedge reclassifications from AOCI to net income in their entirety, refer to Note 9. Additionally, refer to the "Foreign Operations" discussion in Note 8 for information about unrecognized amounts on retirement benefits reclassifications from AOCI that do not impact net income in their entirety. |
Segment_Information
Segment Information | 3 Months Ended | |||||||||||||||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||
Segment Reporting Disclosure [Text Block] | ||||||||||||||||||||||||||||||||||||||||
-13 | 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): | ||||||||||||||||||||||||||||||||||||||||
Three-Month Periods | ||||||||||||||||||||||||||||||||||||||||
Ended March 31, | ||||||||||||||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||||||||||||||
Operating revenue: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 1,250 | $ | 1,288 | ||||||||||||||||||||||||||||||||||||
MidAmerican Funding | 951 | 1,230 | ||||||||||||||||||||||||||||||||||||||
NV Energy | 706 | 638 | ||||||||||||||||||||||||||||||||||||||
Northern Powergrid | 324 | 317 | ||||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 332 | 386 | ||||||||||||||||||||||||||||||||||||||
BHE Transmission | 125 | — | ||||||||||||||||||||||||||||||||||||||
BHE Renewables | 124 | 69 | ||||||||||||||||||||||||||||||||||||||
HomeServices | 448 | 358 | ||||||||||||||||||||||||||||||||||||||
BHE and Other(1) | (39 | ) | (37 | ) | ||||||||||||||||||||||||||||||||||||
Total operating revenue | $ | 4,221 | $ | 4,249 | ||||||||||||||||||||||||||||||||||||
Depreciation and amortization: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 194 | $ | 183 | ||||||||||||||||||||||||||||||||||||
MidAmerican Funding | 100 | 84 | ||||||||||||||||||||||||||||||||||||||
NV Energy | 101 | 92 | ||||||||||||||||||||||||||||||||||||||
Northern Powergrid | 48 | 48 | ||||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 50 | 48 | ||||||||||||||||||||||||||||||||||||||
BHE Transmission | 38 | — | ||||||||||||||||||||||||||||||||||||||
BHE Renewables | 49 | 21 | ||||||||||||||||||||||||||||||||||||||
HomeServices | 6 | 7 | ||||||||||||||||||||||||||||||||||||||
BHE and Other(1) | 1 | (1 | ) | |||||||||||||||||||||||||||||||||||||
Total depreciation and amortization | $ | 587 | $ | 482 | ||||||||||||||||||||||||||||||||||||
Operating income: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 273 | $ | 292 | ||||||||||||||||||||||||||||||||||||
MidAmerican Funding | 107 | 153 | ||||||||||||||||||||||||||||||||||||||
NV Energy | 121 | 107 | ||||||||||||||||||||||||||||||||||||||
Northern Powergrid | 193 | 181 | ||||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 200 | 230 | ||||||||||||||||||||||||||||||||||||||
BHE Transmission | 46 | (2 | ) | |||||||||||||||||||||||||||||||||||||
BHE Renewables | 6 | 29 | ||||||||||||||||||||||||||||||||||||||
HomeServices | (2 | ) | (12 | ) | ||||||||||||||||||||||||||||||||||||
BHE and Other(1) | (14 | ) | (28 | ) | ||||||||||||||||||||||||||||||||||||
Total operating income | 930 | 950 | ||||||||||||||||||||||||||||||||||||||
Interest expense | (472 | ) | (418 | ) | ||||||||||||||||||||||||||||||||||||
Capitalized interest | 29 | 29 | ||||||||||||||||||||||||||||||||||||||
Allowance for equity funds | 31 | 27 | ||||||||||||||||||||||||||||||||||||||
Interest and dividend income | 26 | 9 | ||||||||||||||||||||||||||||||||||||||
Other, net | 26 | 7 | ||||||||||||||||||||||||||||||||||||||
Total income before income tax expense and equity income | $ | 570 | $ | 604 | ||||||||||||||||||||||||||||||||||||
Three-Month Periods | ||||||||||||||||||||||||||||||||||||||||
Ended March 31, | ||||||||||||||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||||||||||||||
Interest expense: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 95 | $ | 96 | ||||||||||||||||||||||||||||||||||||
MidAmerican Funding | 50 | 46 | ||||||||||||||||||||||||||||||||||||||
NV Energy | 63 | 70 | ||||||||||||||||||||||||||||||||||||||
Northern Powergrid | 35 | 38 | ||||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 18 | 19 | ||||||||||||||||||||||||||||||||||||||
BHE Transmission | 36 | — | ||||||||||||||||||||||||||||||||||||||
BHE Renewables | 46 | 41 | ||||||||||||||||||||||||||||||||||||||
HomeServices | 1 | 1 | ||||||||||||||||||||||||||||||||||||||
BHE and Other(1) | 128 | 107 | ||||||||||||||||||||||||||||||||||||||
Total interest expense | $ | 472 | $ | 418 | ||||||||||||||||||||||||||||||||||||
As of | ||||||||||||||||||||||||||||||||||||||||
March 31, | December 31, | |||||||||||||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||||||||||||||
Total assets: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 23,368 | $ | 23,466 | ||||||||||||||||||||||||||||||||||||
MidAmerican Funding | 15,360 | 15,368 | ||||||||||||||||||||||||||||||||||||||
NV Energy | 14,240 | 14,454 | ||||||||||||||||||||||||||||||||||||||
Northern Powergrid | 6,939 | 7,076 | ||||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 5,000 | 4,968 | ||||||||||||||||||||||||||||||||||||||
BHE Transmission | 7,716 | 7,992 | ||||||||||||||||||||||||||||||||||||||
BHE Renewables | 6,451 | 6,123 | ||||||||||||||||||||||||||||||||||||||
HomeServices | 1,800 | 1,629 | ||||||||||||||||||||||||||||||||||||||
BHE and Other(1) | 1,399 | 1,228 | ||||||||||||||||||||||||||||||||||||||
Total assets | $ | 82,273 | $ | 82,304 | ||||||||||||||||||||||||||||||||||||
Three-Month Periods | ||||||||||||||||||||||||||||||||||||||||
Ended March 31, | ||||||||||||||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||||||||||||||
Operating revenue by country: | ||||||||||||||||||||||||||||||||||||||||
United States | $ | 3,769 | $ | 3,905 | ||||||||||||||||||||||||||||||||||||
United Kingdom | 324 | 315 | ||||||||||||||||||||||||||||||||||||||
Canada | 127 | 4 | ||||||||||||||||||||||||||||||||||||||
Philippines and other | 1 | 25 | ||||||||||||||||||||||||||||||||||||||
Total operating revenue by country | $ | 4,221 | $ | 4,249 | ||||||||||||||||||||||||||||||||||||
Three-Month Periods | ||||||||||||||||||||||||||||||||||||||||
Ended March 31, | ||||||||||||||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||||||||||||||
Income (loss) before income tax expense and equity income by country: | ||||||||||||||||||||||||||||||||||||||||
United States | $ | 358 | $ | 447 | ||||||||||||||||||||||||||||||||||||
United Kingdom | 164 | 143 | ||||||||||||||||||||||||||||||||||||||
Canada | 35 | (1 | ) | |||||||||||||||||||||||||||||||||||||
Philippines and other | 13 | 15 | ||||||||||||||||||||||||||||||||||||||
Total income (loss) before income tax expense and equity income by country | $ | 570 | $ | 604 | ||||||||||||||||||||||||||||||||||||
-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 three-month period ended March 31, 2015 (in millions): | ||||||||||||||||||||||||||||||||||||||||
BHE | ||||||||||||||||||||||||||||||||||||||||
MidAmerican | NV | Northern | Pipeline | BHE | BHE | Home- | ||||||||||||||||||||||||||||||||||
PacifiCorp | Funding | Energy | Powergrid | Group | Transmission | Renewables | Services | Other | Total | |||||||||||||||||||||||||||||||
December 31, 2014 | $ | 1,129 | $ | 2,102 | $ | 2,369 | $ | 1,100 | $ | 127 | $ | 1,657 | $ | 95 | $ | 761 | $ | 3 | $ | 9,343 | ||||||||||||||||||||
Acquisitions | — | — | — | — | — | 31 | — | — | — | 31 | ||||||||||||||||||||||||||||||
Foreign currency translation | — | — | — | (40 | ) | — | (142 | ) | — | — | — | (182 | ) | |||||||||||||||||||||||||||
Other | — | — | — | — | (6 | ) | — | — | — | — | (6 | ) | ||||||||||||||||||||||||||||
March 31, 2015 | $ | 1,129 | $ | 2,102 | $ | 2,369 | $ | 1,060 | $ | 121 | $ | 1,546 | $ | 95 | $ | 761 | $ | 3 | $ | 9,186 | ||||||||||||||||||||
Business_Acquisitions_Tables
Business Acquisitions (Tables) | 3 Months Ended | ||||
Mar. 31, 2015 | |||||
Business Combinations [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 | 1,731 | ||||
Other long-term assets | 128 | ||||
Total assets | 7,643 | ||||
Current liabilities, including current portion of long-term debt of $79 | 866 | ||||
Subsidiary debt, less current portion | 3,772 | ||||
Deferred income taxes | 95 | ||||
Other long-term liabilities | 182 | ||||
Total liabilities | 4,915 | ||||
Net assets acquired | $ | 2,728 | |||
Business Acquisition, Pro Forma Information [Table Text Block] | |||||
Three-Month Period | |||||
Ended March 31, 2014 | |||||
Operating revenue | $ | 4,383 | |||
Net income attributable to BHE shareholders | $ | 515 | |||
Property_Plant_and_Equipment_N1
Property, Plant and Equipment, Net (Tables) | 3 Months Ended | |||||||||
Mar. 31, 2015 | ||||||||||
Property, Plant and Equipment, Net [Abstract] | ||||||||||
Property, Plant and Equipment [Table Text Block] | Property, plant and equipment, net consists of the following (in millions): | |||||||||
As of | ||||||||||
Depreciable | March 31, | December 31, | ||||||||
Life | 2015 | 2014 | ||||||||
Regulated assets: | ||||||||||
Utility generation, distribution and transmission system | 5-80 years | $ | 64,477 | $ | 64,645 | |||||
Interstate pipeline assets | 3-80 years | 6,722 | 6,660 | |||||||
71,199 | 71,305 | |||||||||
Accumulated depreciation and amortization | (21,668 | ) | (21,447 | ) | ||||||
Regulated assets, net | 49,531 | 49,858 | ||||||||
Nonregulated assets: | ||||||||||
Independent power plants | 5-30 years | 4,537 | 4,362 | |||||||
Other assets | 3-30 years | 738 | 673 | |||||||
5,275 | 5,035 | |||||||||
Accumulated depreciation and amortization | (617 | ) | (839 | ) | ||||||
Nonregulated assets, net | 4,658 | 4,196 | ||||||||
Net operating assets | 54,189 | 54,054 | ||||||||
Construction work-in-progress | 4,798 | 5,194 | ||||||||
Property, plant and equipment, net | $ | 58,987 | $ | 59,248 | ||||||
Investments_and_Restricted_Cas1
Investments and Restricted Cash and Investments (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
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 (in millions): | |||||||
As of | ||||||||
March 31, | December 31, | |||||||
2015 | 2014 | |||||||
Investments: | ||||||||
BYD Company Limited common stock | $ | 1,158 | $ | 881 | ||||
Rabbi trusts | 386 | 386 | ||||||
Other | 148 | 126 | ||||||
Total investments | 1,692 | 1,393 | ||||||
Equity method investments: | ||||||||
Electric Transmission Texas, LLC | 536 | 515 | ||||||
Bridger Coal Company | 188 | 192 | ||||||
Agua Caliente Solar, LLC | 83 | 81 | ||||||
Other | 97 | 80 | ||||||
Total equity method investments | 904 | 868 | ||||||
Restricted cash and investments: | ||||||||
Quad Cities Station nuclear decommissioning trust funds | 430 | 424 | ||||||
Solar Star and Topaz Projects | 47 | 66 | ||||||
Other | 167 | 167 | ||||||
Total restricted cash and investments | 644 | 657 | ||||||
Total investments and restricted cash and investments | $ | 3,240 | $ | 2,918 | ||||
Reflected as: | ||||||||
Current assets | $ | 122 | $ | 115 | ||||
Noncurrent assets | 3,118 | 2,803 | ||||||
Total investments and restricted cash and investments | $ | 3,240 | $ | 2,918 | ||||
Income_Taxes_Tables
Income Taxes (Tables) | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Income Tax Disclosure [Abstract] | ||||||
Schedule of 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: | |||||
Three-Month Periods | ||||||
Ended March 31, | ||||||
2015 | 2014 | |||||
Federal statutory income tax rate | 35 | % | 35 | % | ||
Income tax credits | (11 | ) | (15 | ) | ||
State income tax, net of federal income tax benefit | 2 | 1 | ||||
Income tax effect of foreign income | (4 | ) | (3 | ) | ||
Equity income | 2 | 1 | ||||
Other, net | (2 | ) | — | |||
Effective income tax rate | 22 | % | 19 | % |
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ||||||||
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | Foreign Operations | |||||||
Net periodic benefit cost for the United Kingdom pension plan included the following components (in millions): | ||||||||
Three-Month Periods | ||||||||
Ended March 31, | ||||||||
2015 | 2014 | |||||||
Service cost | $ | 6 | $ | 6 | ||||
Interest cost | 20 | 24 | ||||||
Expected return on plan assets | (29 | ) | (31 | ) | ||||
Net amortization | 16 | 13 | ||||||
Net periodic benefit cost | $ | 13 | $ | 12 | ||||
Domestic Operations | ||||||||
Net periodic benefit cost for the domestic pension and other postretirement benefit plans included the following components (in millions): | ||||||||
Three-Month Periods | ||||||||
Ended March 31, | ||||||||
2015 | 2014 | |||||||
Pension: | ||||||||
Service cost | $ | 8 | $ | 8 | ||||
Interest cost | 30 | 33 | ||||||
Expected return on plan assets | (42 | ) | (41 | ) | ||||
Net amortization | 13 | 11 | ||||||
Net periodic benefit cost | $ | 9 | $ | 11 | ||||
Other postretirement: | ||||||||
Service cost | $ | 4 | $ | 3 | ||||
Interest cost | 7 | 11 | ||||||
Expected return on plan assets | (12 | ) | (13 | ) | ||||
Net amortization | (3 | ) | (1 | ) | ||||
Net periodic benefit cost | $ | (4 | ) | $ | — | |||
Risk_Management_and_Hedging_Ac1
Risk Management and Hedging Activities (Tables) | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
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 March 31, 2015 | ||||||||||||||||||||
Not designated as hedging contracts: | ||||||||||||||||||||
Commodity assets(1) | $ | 23 | $ | 73 | $ | 12 | $ | — | $ | 108 | ||||||||||
Commodity liabilities(1) | — | (1 | ) | (119 | ) | (173 | ) | (293 | ) | |||||||||||
Interest rate assets | 9 | — | — | — | 9 | |||||||||||||||
Interest rate liabilities | — | — | (4 | ) | (6 | ) | (10 | ) | ||||||||||||
Total | 32 | 72 | (111 | ) | (179 | ) | (186 | ) | ||||||||||||
Designated as hedging contracts: | ||||||||||||||||||||
Commodity assets | 3 | — | 4 | 1 | 8 | |||||||||||||||
Commodity liabilities | — | — | (20 | ) | (19 | ) | (39 | ) | ||||||||||||
Interest rate assets | — | — | — | — | — | |||||||||||||||
Interest rate liabilities | — | — | (4 | ) | (2 | ) | (6 | ) | ||||||||||||
Total | 3 | — | (20 | ) | (20 | ) | (37 | ) | ||||||||||||
Total derivatives | 35 | 72 | (131 | ) | (199 | ) | (223 | ) | ||||||||||||
Cash collateral receivable | — | — | 42 | 51 | 93 | |||||||||||||||
Total derivatives - net basis | $ | 35 | $ | 72 | $ | (89 | ) | $ | (148 | ) | $ | (130 | ) | |||||||
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 receivable | — | — | 56 | 19 | 75 | |||||||||||||||
Total derivatives - net basis | $ | 41 | $ | 67 | $ | (97 | ) | $ | (133 | ) | $ | (122 | ) | |||||||
-1 | The Company's commodity derivatives not designated as hedging contracts are generally included in regulated rates, and as of March 31, 2015 and December 31, 2014, a net regulatory asset of $255 million and $223 million, respectively, was recorded related to the net derivative liability of $185 million and $156 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 (in millions): | |||||||||||||||||||
Three-Month Periods | ||||||||||||||||||||
Ended March 31, | ||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||
Beginning balance | $ | 223 | $ | 182 | ||||||||||||||||
Changes in fair value recognized in net regulatory assets | 60 | 4 | ||||||||||||||||||
Net gains (losses) reclassified to operating revenue | 9 | (30 | ) | |||||||||||||||||
Net (losses) gains reclassified to cost of sales | (37 | ) | 3 | |||||||||||||||||
Ending balance | $ | 255 | $ | 159 | ||||||||||||||||
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 accumulated other comprehensive (income) loss (pre-tax) and summarizes pre-tax gains and losses on commodity derivative contracts designated and qualifying as cash flow hedges recognized in other comprehensive income ("OCI"), as well as amounts reclassified to earnings (in millions): | |||||||||||||||||||
Three-Month Periods | ||||||||||||||||||||
Ended March 31, | ||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||
Beginning balance | $ | 32 | $ | 12 | ||||||||||||||||
Changes in fair value recognized in OCI | (8 | ) | (59 | ) | ||||||||||||||||
Net gains reclassified to operating revenue | 1 | — | ||||||||||||||||||
Net gains reclassified to cost of sales | 2 | 35 | ||||||||||||||||||
Ending balance | $ | 27 | $ | (12 | ) | |||||||||||||||
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 (in millions): | |||||||||||||||||||
Unit of | March 31, | December 31, | ||||||||||||||||||
Measure | 2015 | 2014 | ||||||||||||||||||
Electricity purchases | Megawatt hours | 9 | 6 | |||||||||||||||||
Natural gas purchases | Decatherms | 352 | 308 | |||||||||||||||||
Fuel purchases | Gallons | 10 | 2 | |||||||||||||||||
Interest rate swaps | US$ | 443 | 443 | |||||||||||||||||
Mortgage sale commitments, net | US$ | (341 | ) | (264 | ) |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | 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 March 31, 2015 | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Commodity derivatives | $ | — | $ | 28 | $ | 88 | $ | (18 | ) | $ | 98 | ||||||||||
Interest rate derivatives | — | 1 | 8 | — | 9 | ||||||||||||||||
Mortgage loans held for sale | — | 361 | — | — | 361 | ||||||||||||||||
Money market mutual funds(2) | 325 | — | — | — | 325 | ||||||||||||||||
Debt securities: | |||||||||||||||||||||
United States government obligations | 140 | — | — | — | 140 | ||||||||||||||||
International government obligations | — | 1 | — | — | 1 | ||||||||||||||||
Corporate obligations | — | 38 | — | — | 38 | ||||||||||||||||
Municipal obligations | — | 2 | — | — | 2 | ||||||||||||||||
Agency, asset and mortgage-backed obligations | — | 2 | — | — | 2 | ||||||||||||||||
Auction rate securities | — | — | 44 | — | 44 | ||||||||||||||||
Equity securities: | |||||||||||||||||||||
United States companies | 241 | — | — | — | 241 | ||||||||||||||||
International companies | 1,163 | — | — | — | 1,163 | ||||||||||||||||
Investment funds | 161 | — | — | — | 161 | ||||||||||||||||
$ | 2,030 | $ | 433 | $ | 140 | $ | (18 | ) | $ | 2,585 | |||||||||||
Liabilities: | |||||||||||||||||||||
Commodity derivatives | $ | (17 | ) | $ | (276 | ) | $ | (39 | ) | $ | 111 | $ | (221 | ) | |||||||
Interest rate derivatives | (1 | ) | (15 | ) | — | — | (16 | ) | |||||||||||||
$ | (18 | ) | $ | (291 | ) | $ | (39 | ) | $ | 111 | $ | (237 | ) | ||||||||
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 | ) | ||||||||
-1 | Represents netting under master netting arrangements and a net cash collateral receivable of $93 million and $75 million as of March 31, 2015 and December 31, 2014, 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 (in millions): | ||||||||||||||||||||
Three-Month Periods | |||||||||||||||||||||
Ended March 31, | |||||||||||||||||||||
Interest | Auction | ||||||||||||||||||||
Commodity | Rate | Rate | |||||||||||||||||||
Derivatives | Derivatives | Securities | |||||||||||||||||||
2015:00:00 | |||||||||||||||||||||
Beginning balance | $ | 51 | $ | — | $ | 45 | |||||||||||||||
Changes included in earnings | 8 | 21 | — | ||||||||||||||||||
Changes in fair value recognized in OCI | 1 | — | (1 | ) | |||||||||||||||||
Changes in fair value recognized in net regulatory assets | (3 | ) | — | — | |||||||||||||||||
Settlements | (8 | ) | (16 | ) | — | ||||||||||||||||
Transfers from Level 2 | — | 3 | — | ||||||||||||||||||
Ending balance | $ | 49 | $ | 8 | $ | 44 | |||||||||||||||
2014:00:00 | |||||||||||||||||||||
Beginning balance | $ | 60 | $ | — | $ | 44 | |||||||||||||||
Changes included in earnings | (17 | ) | — | — | |||||||||||||||||
Changes in fair value recognized in OCI | 3 | — | 1 | ||||||||||||||||||
Changes in fair value recognized in net regulatory assets | 2 | — | — | ||||||||||||||||||
Transfers from Level 2 | (35 | ) | — | — | |||||||||||||||||
Ending balance | $ | 13 | $ | — | $ | 45 | |||||||||||||||
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 (in millions): | ||||||||||||||||||||
As of March 31, 2015 | As of December 31, 2014 | ||||||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||||||
Value | Value | Value | Value | ||||||||||||||||||
Long-term debt | $ | 38,351 | $ | 44,466 | $ | 38,649 | $ | 43,863 | |||||||||||||
Components_of_Accumulated_Othe1
Components of Accumulated Other Comprehensive Loss, Net (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
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 AOCI attributable to BHE shareholders by each component of OCI, net of applicable income taxes (in millions): | ||||||||||||||||||||
Unrealized | |||||||||||||||||||||
Unrecognized | Foreign | Gains on | Unrealized | AOCI | |||||||||||||||||
Amounts on | Currency | Available- | Gains on | Attributable | |||||||||||||||||
Retirement | Translation | For-Sale | Cash Flow | To BHE | |||||||||||||||||
Benefits | Adjustment | Securities | Hedges | Shareholders, Net | |||||||||||||||||
Balance, December 31, 2013 | $ | (559 | ) | $ | (98 | ) | $ | 524 | $ | 36 | $ | (97 | ) | ||||||||
Other comprehensive income | 7 | 29 | 173 | 13 | 222 | ||||||||||||||||
Balance, March 31, 2014 | $ | (552 | ) | $ | (69 | ) | $ | 697 | $ | 49 | $ | 125 | |||||||||
Balance, December 31, 2014 | $ | (490 | ) | $ | (412 | ) | $ | 390 | $ | 18 | $ | (494 | ) | ||||||||
Other comprehensive income (loss) | 22 | (424 | ) | 166 | 1 | (235 | ) | ||||||||||||||
Balance, March 31, 2015 | $ | (468 | ) | $ | (836 | ) | $ | 556 | $ | 19 | $ | (729 | ) | ||||||||
Segment_Information_Tables
Segment Information (Tables) | 3 Months Ended | |||||||||||||||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | 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): | |||||||||||||||||||||||||||||||||||||||
Three-Month Periods | ||||||||||||||||||||||||||||||||||||||||
Ended March 31, | ||||||||||||||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||||||||||||||
Operating revenue: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 1,250 | $ | 1,288 | ||||||||||||||||||||||||||||||||||||
MidAmerican Funding | 951 | 1,230 | ||||||||||||||||||||||||||||||||||||||
NV Energy | 706 | 638 | ||||||||||||||||||||||||||||||||||||||
Northern Powergrid | 324 | 317 | ||||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 332 | 386 | ||||||||||||||||||||||||||||||||||||||
BHE Transmission | 125 | — | ||||||||||||||||||||||||||||||||||||||
BHE Renewables | 124 | 69 | ||||||||||||||||||||||||||||||||||||||
HomeServices | 448 | 358 | ||||||||||||||||||||||||||||||||||||||
BHE and Other(1) | (39 | ) | (37 | ) | ||||||||||||||||||||||||||||||||||||
Total operating revenue | $ | 4,221 | $ | 4,249 | ||||||||||||||||||||||||||||||||||||
Depreciation and amortization: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 194 | $ | 183 | ||||||||||||||||||||||||||||||||||||
MidAmerican Funding | 100 | 84 | ||||||||||||||||||||||||||||||||||||||
NV Energy | 101 | 92 | ||||||||||||||||||||||||||||||||||||||
Northern Powergrid | 48 | 48 | ||||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 50 | 48 | ||||||||||||||||||||||||||||||||||||||
BHE Transmission | 38 | — | ||||||||||||||||||||||||||||||||||||||
BHE Renewables | 49 | 21 | ||||||||||||||||||||||||||||||||||||||
HomeServices | 6 | 7 | ||||||||||||||||||||||||||||||||||||||
BHE and Other(1) | 1 | (1 | ) | |||||||||||||||||||||||||||||||||||||
Total depreciation and amortization | $ | 587 | $ | 482 | ||||||||||||||||||||||||||||||||||||
Operating income: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 273 | $ | 292 | ||||||||||||||||||||||||||||||||||||
MidAmerican Funding | 107 | 153 | ||||||||||||||||||||||||||||||||||||||
NV Energy | 121 | 107 | ||||||||||||||||||||||||||||||||||||||
Northern Powergrid | 193 | 181 | ||||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 200 | 230 | ||||||||||||||||||||||||||||||||||||||
BHE Transmission | 46 | (2 | ) | |||||||||||||||||||||||||||||||||||||
BHE Renewables | 6 | 29 | ||||||||||||||||||||||||||||||||||||||
HomeServices | (2 | ) | (12 | ) | ||||||||||||||||||||||||||||||||||||
BHE and Other(1) | (14 | ) | (28 | ) | ||||||||||||||||||||||||||||||||||||
Total operating income | 930 | 950 | ||||||||||||||||||||||||||||||||||||||
Interest expense | (472 | ) | (418 | ) | ||||||||||||||||||||||||||||||||||||
Capitalized interest | 29 | 29 | ||||||||||||||||||||||||||||||||||||||
Allowance for equity funds | 31 | 27 | ||||||||||||||||||||||||||||||||||||||
Interest and dividend income | 26 | 9 | ||||||||||||||||||||||||||||||||||||||
Other, net | 26 | 7 | ||||||||||||||||||||||||||||||||||||||
Total income before income tax expense and equity income | $ | 570 | $ | 604 | ||||||||||||||||||||||||||||||||||||
Three-Month Periods | ||||||||||||||||||||||||||||||||||||||||
Ended March 31, | ||||||||||||||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||||||||||||||
Interest expense: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 95 | $ | 96 | ||||||||||||||||||||||||||||||||||||
MidAmerican Funding | 50 | 46 | ||||||||||||||||||||||||||||||||||||||
NV Energy | 63 | 70 | ||||||||||||||||||||||||||||||||||||||
Northern Powergrid | 35 | 38 | ||||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 18 | 19 | ||||||||||||||||||||||||||||||||||||||
BHE Transmission | 36 | — | ||||||||||||||||||||||||||||||||||||||
BHE Renewables | 46 | 41 | ||||||||||||||||||||||||||||||||||||||
HomeServices | 1 | 1 | ||||||||||||||||||||||||||||||||||||||
BHE and Other(1) | 128 | 107 | ||||||||||||||||||||||||||||||||||||||
Total interest expense | $ | 472 | $ | 418 | ||||||||||||||||||||||||||||||||||||
As of | ||||||||||||||||||||||||||||||||||||||||
March 31, | December 31, | |||||||||||||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||||||||||||||
Total assets: | ||||||||||||||||||||||||||||||||||||||||
PacifiCorp | $ | 23,368 | $ | 23,466 | ||||||||||||||||||||||||||||||||||||
MidAmerican Funding | 15,360 | 15,368 | ||||||||||||||||||||||||||||||||||||||
NV Energy | 14,240 | 14,454 | ||||||||||||||||||||||||||||||||||||||
Northern Powergrid | 6,939 | 7,076 | ||||||||||||||||||||||||||||||||||||||
BHE Pipeline Group | 5,000 | 4,968 | ||||||||||||||||||||||||||||||||||||||
BHE Transmission | 7,716 | 7,992 | ||||||||||||||||||||||||||||||||||||||
BHE Renewables | 6,451 | 6,123 | ||||||||||||||||||||||||||||||||||||||
HomeServices | 1,800 | 1,629 | ||||||||||||||||||||||||||||||||||||||
BHE and Other(1) | 1,399 | 1,228 | ||||||||||||||||||||||||||||||||||||||
Total assets | $ | 82,273 | $ | 82,304 | ||||||||||||||||||||||||||||||||||||
Three-Month Periods | ||||||||||||||||||||||||||||||||||||||||
Ended March 31, | ||||||||||||||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||||||||||||||
Operating revenue by country: | ||||||||||||||||||||||||||||||||||||||||
United States | $ | 3,769 | $ | 3,905 | ||||||||||||||||||||||||||||||||||||
United Kingdom | 324 | 315 | ||||||||||||||||||||||||||||||||||||||
Canada | 127 | 4 | ||||||||||||||||||||||||||||||||||||||
Philippines and other | 1 | 25 | ||||||||||||||||||||||||||||||||||||||
Total operating revenue by country | $ | 4,221 | $ | 4,249 | ||||||||||||||||||||||||||||||||||||
Three-Month Periods | ||||||||||||||||||||||||||||||||||||||||
Ended March 31, | ||||||||||||||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||||||||||||||
Income (loss) before income tax expense and equity income by country: | ||||||||||||||||||||||||||||||||||||||||
United States | $ | 358 | $ | 447 | ||||||||||||||||||||||||||||||||||||
United Kingdom | 164 | 143 | ||||||||||||||||||||||||||||||||||||||
Canada | 35 | (1 | ) | |||||||||||||||||||||||||||||||||||||
Philippines and other | 13 | 15 | ||||||||||||||||||||||||||||||||||||||
Total income (loss) before income tax expense and equity income by country | $ | 570 | $ | 604 | ||||||||||||||||||||||||||||||||||||
-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 three-month period ended March 31, 2015 (in millions): | |||||||||||||||||||||||||||||||||||||||
BHE | ||||||||||||||||||||||||||||||||||||||||
MidAmerican | NV | Northern | Pipeline | BHE | BHE | Home- | ||||||||||||||||||||||||||||||||||
PacifiCorp | Funding | Energy | Powergrid | Group | Transmission | Renewables | Services | Other | Total | |||||||||||||||||||||||||||||||
December 31, 2014 | $ | 1,129 | $ | 2,102 | $ | 2,369 | $ | 1,100 | $ | 127 | $ | 1,657 | $ | 95 | $ | 761 | $ | 3 | $ | 9,343 | ||||||||||||||||||||
Acquisitions | — | — | — | — | — | 31 | — | — | — | 31 | ||||||||||||||||||||||||||||||
Foreign currency translation | — | — | — | (40 | ) | — | (142 | ) | — | — | — | (182 | ) | |||||||||||||||||||||||||||
Other | — | — | — | — | (6 | ) | — | — | — | — | (6 | ) | ||||||||||||||||||||||||||||
March 31, 2015 | $ | 1,129 | $ | 2,102 | $ | 2,369 | $ | 1,060 | $ | 121 | $ | 1,546 | $ | 95 | $ | 761 | $ | 3 | $ | 9,186 | ||||||||||||||||||||
General_Details
General (Details) | 3 Months Ended |
Mar. 31, 2015 | |
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 interstate natural gas pipeline companies in the United States | 2 |
Number of owned and operated electricity distribution companies in Great Britain | 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 |
New_Accounting_Pronouncements_
New Accounting Pronouncements New Accounting Pronouncements (Details) (USD $) | Jan. 01, 2015 |
In Millions, unless otherwise specified | |
Retained Earnings [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Adoption of ASC 853 | $56 |
Noncontrolling Interest [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Adoption of ASC 853 | $11 |
Business_Acquisitions_Details
Business Acquisitions (Details) | 3 Months Ended | 1 Months Ended | ||||||
Mar. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 01, 2014 | Dec. 01, 2014 | Dec. 01, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | |
USD ($) | USD ($) | AltaLink, LP Transaction [Member] | AltaLink, LP Transaction [Member] | AltaLink, LP Transaction [Member] | Common Stock [Member] | Junior Subordinated Debt [Member] | Commercial Paper [Member] | |
mi | USD ($) | CAD | AltaLink, LP Transaction [Member] | AltaLink, LP Transaction [Member] | AltaLink, LP Transaction [Member] | |||
substation | USD ($) | USD ($) | ||||||
Business Acquisition [Line Items] | ||||||||
Current assets, including cash and cash equivalents of $15 | $174,000,000 | |||||||
Property, plant and equipment | 5,610,000,000 | |||||||
Goodwill | 9,186,000,000 | 9,343,000,000 | 1,731,000,000 | |||||
Other long-term assets | 128,000,000 | |||||||
Total assets | 7,643,000,000 | |||||||
Current liabilities, including current portion of long-term debt of $79 | 866,000,000 | |||||||
Subsidiary debt, less current portion | 3,772,000,000 | |||||||
Deferred income taxes | 95,000,000 | |||||||
Other long-term liabilities | 182,000,000 | |||||||
Total liabilities | 4,915,000,000 | |||||||
Net assets acquired | 2,728,000,000 | 3,100,000,000 | ||||||
Cash and cash equivalents assumed | 15,000,000 | |||||||
Current portion of long-term debt assumed | 79,000,000 | |||||||
Business acquisition, percentage of voting interests acquired | 100.00% | |||||||
Payments to acquire businesses, gross | $1,500,000,000 | $1,000,000,000 | ||||||
Transmission line | 7,800 | |||||||
Substation | 300 | |||||||
Business acquisition, measurement period | 12 |
Business_Acquisitions_Business
Business Acquisitions Business Acquisitions - Pro Forma (Details) (AltaLink, LP Transaction [Member], USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 |
AltaLink, LP Transaction [Member] | |
Business Acquisition [Line Items] | |
Pro forma operating revenue | $4,383 |
Pro forma net income attributable to BHE shareholders | $515 |
Property_Plant_and_Equipment_N2
Property, Plant and Equipment, Net (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment in service, net | 54,189 | $54,054 |
Construction work-in-progress | 4,798 | 5,194 |
Property, plant and equipment, net | 58,987 | 59,248 |
Regulated assets [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 71,199 | 71,305 |
Accumulated depreciation and amortization | -21,668 | -21,447 |
Property, plant and equipment in service, net | 49,531 | 49,858 |
Construction work-in-progress | 4,400 | 4,300 |
Regulated assets [Member] | Utility generation, distribution and transmission system [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 64,477 | 64,645 |
Regulated assets [Member] | Utility generation, distribution and transmission system [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable Life | 5 years | |
Regulated assets [Member] | Utility generation, distribution and transmission system [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable Life | 80 years | |
Regulated assets [Member] | Interstate pipeline assets [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 6,722 | 6,660 |
Regulated assets [Member] | Interstate pipeline assets [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable Life | 3 years | |
Regulated assets [Member] | Interstate pipeline assets [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable Life | 80 years | |
Unregulated operation [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 5,275 | 5,035 |
Accumulated depreciation and amortization | -617 | -839 |
Property, plant and equipment in service, net | 4,658 | 4,196 |
Unregulated operation [Member] | Independent power plants [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 4,537 | 4,362 |
Unregulated operation [Member] | Independent power plants [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable Life | 5 years | |
Unregulated operation [Member] | Independent power plants [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable Life | 30 years | |
Unregulated operation [Member] | Other assets [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 738 | $673 |
Unregulated operation [Member] | Other assets [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable Life | 3 years | |
Unregulated operation [Member] | Other assets [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable Life | 30 years |
Investments_and_Restricted_Cas2
Investments and Restricted Cash and Investments (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Investments [Abstract] | ||
Investments | $1,692 | $1,393 |
Equity Method Investments [Abstract] | ||
Equity method investments | 904 | 868 |
Restricted Cash and Investments [Abstract] | ||
Restricted cash and investments | 644 | 657 |
Investments, including equity method investments and restricted cash and investments | 3,240 | 2,918 |
Investments, including equity method investments and restricted cash and investments, current | 122 | 115 |
Investments, including equity method investments and restricted cash and investments, noncurrent | 3,118 | 2,803 |
Quad Cities Station nuclear decommissioning trust funds [Member] | ||
Restricted Cash and Investments [Abstract] | ||
Decommissioning fund investments, fair value | 430 | 424 |
Solar Star and Topaz Projects [Member] | ||
Restricted Cash and Investments [Abstract] | ||
Restricted cash and investments | 47 | 66 |
Other restricted cash and investments [Member] | ||
Restricted Cash and Investments [Abstract] | ||
Restricted cash and investments | 167 | 167 |
ETT [Member] | ||
Equity Method Investments [Abstract] | ||
Equity method investments | 536 | 515 |
Bridger Coal Company [Member] | ||
Equity Method Investments [Abstract] | ||
Equity method investments | 188 | 192 |
Agua Caliente Solar, LLC [Member] | ||
Equity Method Investments [Abstract] | ||
Equity method investments | 83 | 81 |
Other equity method investments [Member] | ||
Equity Method Investments [Abstract] | ||
Equity method investments | 97 | 80 |
BYD Company Limited common stock [Member] | ||
Investments [Abstract] | ||
Available-for-sale securities, equity securities | 1,158 | 881 |
Available-for-sale securities, gross unrealized gain (loss) | 926 | 649 |
Rabbi trusts [Member] | ||
Investments [Abstract] | ||
Rabbi trusts, amount | 386 | 386 |
Other investments [Member] | ||
Investments [Abstract] | ||
Other investments | $148 | $126 |
Recent_Financing_Transactions_
Recent Financing Transactions Recent Financing Transactions - Long-Term Debt (Details) | Mar. 31, 2015 | Mar. 31, 2015 | Apr. 30, 2015 |
In Millions, unless otherwise specified | Solar Star Funding, LLC [Member] | AltaLink Investments, L.P. [Member] | Subsequent Event [Member] |
Solar Star Funding LLC Series B Senior Secured Notes 3.95% due June 2016 through June 2035 [Member] | Altalink Investments 15-1 Series Bonds 2.244% due March 2022 [Member] | Northern Powergrid (Yorkshire) plc [Member] | |
USD ($) | CAD | Northern Powergrid (Yorkshire) 2.50% Bonds due April 2025 [Member] | |
GBP (£) | |||
Debt Instrument [Line Items] | |||
Debt instrument, face amount | $325 | 200 | £ 150 |
Debt instrument, interest rate, stated percentage | 3.95% | 2.24% | 2.50% |
Recent_Financing_Transactions_1
Recent Financing Transactions Recent Financings - Credit Facilities (Details) (Letter of Credit [Member], USD $) | 1 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 |
Topaz [Member] | Letter of credit and reimbursement facility, Topaz [Member] | |
Line of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | $326 |
Line of credit facility, borrowing capacity replaced | 345 |
Letters of credit outstanding, amount | 316 |
PacifiCorp [Member] | |
Line of Credit Facility [Line Items] | |
Letters of credit outstanding, amount | 428 |
Line of credit facility, amounts supported | 56 |
PacifiCorp [Member] | Letters of credit supporting tax-exempt bond obligations [Member] | |
Line of Credit Facility [Line Items] | |
Letters of credit issued during the period | -191 |
PacifiCorp [Member] | Letters of credit supported by credit facility [Member] | Letters of credit supporting tax-exempt bond obligations [Member] | |
Line of Credit Facility [Line Items] | |
Letters of credit issued during the period | $23 |
Income_Taxes_Details
Income Taxes (Details) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ||
Federal statutory income tax rate | 35.00% | 35.00% |
Income tax credits | -11.00% | -15.00% |
State income tax, net of federal income tax benefit | 2.00% | 1.00% |
Income tax effect of foreign income | -4.00% | -3.00% |
Equity income | 2.00% | 1.00% |
Other, net | -2.00% | 0.00% |
Effective income tax rate | 22.00% | 19.00% |
Production Tax Credit Carryforwards [Abstract] | ||
Years eligible for federal renewable energy production tax credit | 10 years |
Employee_Benefit_Plans_Details
Employee Benefit Plans (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Domestic Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $8 | $8 |
Interest cost | 30 | 33 |
Expected return on plan assets | -42 | -41 |
Net amortization | 13 | 11 |
Net periodic benefit cost | 9 | 11 |
Domestic Other Postretirement Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 4 | 3 |
Interest cost | 7 | 11 |
Expected return on plan assets | -12 | -13 |
Net amortization | -3 | -1 |
Net periodic benefit cost | -4 | 0 |
UK Pension Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 6 | 6 |
Interest cost | 20 | 24 |
Expected return on plan assets | -29 | -31 |
Net amortization | 16 | 13 |
Net periodic benefit cost | $13 | $12 |
Employee_Benefit_Plans_Employe
Employee Benefit Plans - Employer Contributions (Details) | 3 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2015 |
Domestic Pension Plans [Member] | Domestic Other Postretirement Plans [Member] | UK Pension Plan [Member] | UK Pension Plan [Member] | |
USD ($) | USD ($) | USD ($) | GBP (£) | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined benefit plan, expected contributions in current fiscal year | $34 | $1 | £ 49 | |
Employer contributions | $3 | $20 | £ 13 |
Risk_Management_and_Hedging_Ac2
Risk Management and Hedging Activities - Balance Sheet Location (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | ||
In Millions, unless otherwise specified | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | ($223) | ($197) | ||||
Cash collateral, net receivable, offset against derivative positions | 93 | 75 | ||||
Derivative assets (liabilities), at fair value, net | -130 | -122 | ||||
Other Current Assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | 35 | 41 | ||||
Cash collateral, net receivable, offset against derivative positions | 0 | 0 | ||||
Derivative assets (liabilities), at fair value, net | 35 | 41 | ||||
Other Assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | 72 | 67 | ||||
Cash collateral, net receivable, offset against derivative positions | 0 | 0 | ||||
Derivative assets (liabilities), at fair value, net | 72 | 67 | ||||
Other Current Liabilities [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | -131 | -153 | ||||
Cash collateral, net receivable, offset against derivative positions | 42 | 56 | ||||
Derivative assets (liabilities), at fair value, net | -89 | -97 | ||||
Other Long-Term Liabilities [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | -199 | -152 | ||||
Cash collateral, net receivable, offset against derivative positions | 51 | 19 | ||||
Derivative assets (liabilities), at fair value, net | -148 | -133 | ||||
Not Designated as Hedging Instrument [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | -186 | -158 | ||||
Not Designated as Hedging Instrument [Member] | Other Current Assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | 32 | 40 | ||||
Not Designated as Hedging Instrument [Member] | Other Assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | 72 | 66 | ||||
Not Designated as Hedging Instrument [Member] | Other Current Liabilities [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | -111 | -127 | ||||
Not Designated as Hedging Instrument [Member] | Other Long-Term Liabilities [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | -179 | -137 | ||||
Designated as Hedging Instrument [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | -37 | -39 | ||||
Designated as Hedging Instrument [Member] | Other Current Assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | 3 | 1 | ||||
Designated as Hedging Instrument [Member] | Other Assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | 0 | 1 | ||||
Designated as Hedging Instrument [Member] | Other Current Liabilities [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | -20 | -26 | ||||
Designated as Hedging Instrument [Member] | Other Long-Term Liabilities [Member] | ||||||
Derivatives, Fair Value [Line Items] | ||||||
Derivative, fair value, net | -20 | -15 | ||||
Commodity derivative [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 | 108 | [1] | 135 | [1] | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -293 | [1] | -291 | [1] | ||
Derivative, fair value, net | -185 | -156 | ||||
Net regulatory asset | 255 | 223 | 159 | 182 | ||
Commodity derivative [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 | 23 | [1] | 47 | [1] | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | 0 | [1] | -11 | [1] | ||
Commodity derivative [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 | 73 | [1] | 66 | [1] | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -1 | [1] | 0 | [1] | ||
Commodity derivative [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 | 12 | [1] | 21 | [1] | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -119 | [1] | -146 | [1] | ||
Commodity derivative [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 | [1] | 1 | [1] | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -173 | [1] | -134 | [1] | ||
Commodity derivative [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 | 8 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -39 | -44 | ||||
Commodity derivative [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 | 3 | 1 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | 0 | 0 | ||||
Commodity derivative [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 derivative [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 | 4 | 5 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -20 | -27 | ||||
Commodity derivative [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 | 1 | 2 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -19 | -17 | ||||
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 | 9 | 4 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -10 | -6 | ||||
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 | 9 | 4 | ||||
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 | 0 | ||||
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 | -4 | -2 | ||||
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 | -6 | -4 | ||||
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 | 0 | 1 | ||||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -6 | -4 | ||||
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 | 0 | 1 | ||||
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 | -4 | ||||
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 | ($2) | $0 | ||||
[1] | The Company's commodity derivatives not designated as hedging contracts are generally included in regulated rates, and as of MarchB 31, 2015 and DecemberB 31, 2014, a net regulatory asset of $255B million and $223B million, respectively, was recorded related to the net derivative liability of $185B million and $156 million, respectively. |
Risk_Management_and_Hedging_Ac3
Risk Management and Hedging Activities Risk Management and Hedging Activities - Not Designated as Hedging Contracts (Details) (Not Designated as Hedging Instrument [Member], Commodity derivative [Member], USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Not Designated as Hedging Instrument [Member] | Commodity derivative [Member] | ||
Regulatory Assets (Liabilities), Net, Derivatives [Roll Forward] | ||
Beginning balance | $223 | $182 |
Changes in fair value recognized in net regulatory assets | 60 | 4 |
Net gains (losses) reclassified to operating revenue | 9 | -30 |
Net (losses) gains reclassified to cost of sales | -37 | 3 |
Ending balance | $255 | $159 |
Risk_Management_and_Hedging_Ac4
Risk Management and Hedging Activities Risk Management and Hedging Activities - Designated as Hedging Contracts (Details) (Designated as Hedging Instrument [Member], USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Accumulated Other Comprehensive (Income) Loss, Net, Derivatives [Roll Forward] | ||
Cash flow hedge ineffectiveness | insignificant | insignificant |
Cash flow hedge loss to be reclassified within twelve months | $14 | |
Commodity derivative [Member] | ||
Accumulated Other Comprehensive (Income) Loss, Net, Derivatives [Roll Forward] | ||
Beginning balance | 32 | 12 |
Changes in fair value recognized in OCI | -8 | -59 |
Net gains reclassified to operating revenue | 1 | 0 |
Net gains reclassified to cost of sales | 2 | 35 |
Ending balance | $27 | -12 |
Risk_Management_and_Hedging_Ac5
Risk Management and Hedging Activities - Derivative Contract Volumes (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | MWh | MWh |
Electricity sales (in megawatt hours) [Member] | Commodity derivative [Member] | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, nonmonetary notional amount | 9,000,000 | 6,000,000 |
Natural gas purchases (in decatherms) [Member] | Commodity derivative [Member] | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, nonmonetary notional amount | 352,000,000 | 308,000,000 |
Fuel purchases (in gallons) [Member] | Commodity derivative [Member] | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, nonmonetary notional amount | 10,000,000 | 2,000,000 |
Interest rate swap [Member] | Interest Rate Contract [Member] | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, notional amount | 443 | 443 |
Mortgage sale commitments, net [Member] | Interest Rate Contract [Member] | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, notional amount | -341 | -264 |
Risk_Management_and_Hedging_Ac6
Risk Management and Hedging Activities - Collateral and Contingent Features (Details) (Commodity derivative [Member], USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Commodity derivative [Member] | ||
Derivative [Line Items] | ||
Derivative, net liability position, aggregate fair value | $264 | $243 |
Collateral already posted, aggregate fair value | 64 | 28 |
Additional collateral, aggregate fair value | $186 | $182 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | ||
In Millions, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash collateral, net receivable, offset against derivative positions | $93 | $75 | ||
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 | -18 | [1] | -40 | [1] |
Assets, fair value disclosure | 2,585 | 2,193 | ||
Derivative liability, fair value, gross asset and right to reclaim cash, offset | 111 | [1] | 115 | [1] |
Derivative liabilities | -237 | -230 | ||
Cash collateral, net receivable, offset against derivative positions | 93 | 75 | ||
Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, fair value disclosure | 2,030 | 1,718 | ||
Derivative liabilities | -18 | -18 | ||
Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, fair value disclosure | 433 | 376 | ||
Derivative liabilities | -291 | -284 | ||
Recurring [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets, fair value disclosure | 140 | 139 | ||
Derivative liabilities | -39 | -43 | ||
Mortgage Loans on Real Estate [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 361 | 279 | ||
Mortgage Loans on Real Estate [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 on Real Estate [Member] | Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 361 | 279 | ||
Mortgage Loans on Real Estate [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 | 325 | [2] | 320 | [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 | 325 | [2] | 320 | [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 | 140 | 136 | ||
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 | 140 | 136 | ||
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 government obligations [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 1 | 1 | ||
International 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 | 0 | 0 | ||
International 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 | 1 | 1 | ||
International 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 | ||
Corporate obligations [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 38 | 39 | ||
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 | 38 | 39 | ||
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 obligations [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 2 | 2 | ||
Municipal 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 | ||
Municipal 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 | ||
Municipal 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 | ||
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 | 44 | 45 | ||
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 | 44 | 45 | ||
United States companies [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale securities | 241 | 238 | ||
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 | 241 | 238 | ||
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 | 1,163 | 886 | ||
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 | 1,163 | 886 | ||
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 | 161 | 137 | ||
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 | 161 | 137 | ||
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 derivative [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 | -18 | [1] | -40 | |
Derivative assets | 98 | 103 | ||
Derivative liability, fair value, gross asset and right to reclaim cash, offset | 111 | [1] | 115 | [1] |
Derivative liabilities | -221 | -220 | ||
Commodity derivative [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 | 1 | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -17 | -18 | ||
Commodity derivative [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 | 28 | 48 | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -276 | -274 | ||
Commodity derivative [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 | 88 | 94 | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -39 | -43 | ||
Interest Rate Contract [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative assets | 9 | 5 | ||
Derivative liabilities | -16 | -10 | ||
Interest Rate 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 | 0 | 0 | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -1 | 0 | ||
Interest Rate 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 | 1 | 5 | ||
Derivative liability, fair value, gross liability including not subject to master netting arrangement | -15 | -10 | ||
Interest Rate 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 | 8 | 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 $93B million and $75B million as of MarchB 31, 2015 and DecemberB 31, 2014, 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 $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Commodity derivative [Member] | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | $51 | $60 |
Changes included in earnings | 8 | -17 |
Changes in fair value recognized in other comprehensive income | 1 | 3 |
Changes in fair value recognized in net regulatory assets | -3 | 2 |
Settlements | -8 | |
Transfers from Level 2 | 0 | -35 |
Ending balance | 49 | 13 |
Interest Rate Lock Commitments [Member] | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | 0 | 0 |
Changes included in earnings | 21 | 0 |
Changes in fair value recognized in other comprehensive income | 0 | 0 |
Changes in fair value recognized in net regulatory assets | 0 | 0 |
Settlements | -16 | |
Transfers from Level 2 | 3 | 0 |
Ending balance | 8 | 0 |
Auction rate securities [Member] | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | 45 | 44 |
Changes included in earnings | 0 | 0 |
Changes in fair value recognized in other comprehensive income | -1 | 1 |
Changes in fair value recognized in net regulatory assets | 0 | 0 |
Settlements | 0 | |
Transfers from Level 2 | 0 | 0 |
Ending balance | $44 | $45 |
Fair_Value_Measurements_Debt_D
Fair Value Measurements - Debt (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, carrying value | $38,351 | $38,649 |
Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $44,466 | $43,863 |
Commitments_and_Contingencies_
Commitments and Contingencies - Legal Matters (Details) (PacifiCorp [Member], USA Power [Member], USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 |
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, at carrying value | 120 |
Damages from Breach of Contract, Awarded By Jury [Member] | |
Loss Contingencies [Line Items] | |
Loss contingency, damages awarded by jury, value | 18 |
Damages from Unjust Enrichment, Awarded By Jury [Member] | |
Loss Contingencies [Line Items] | |
Loss contingency, damages awarded by jury, value | $113 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Commitments (Details) (Solar Star Projects [Member], USD $) | Mar. 31, 2015 |
Solar Star Projects [Member] | |
ContractualObligationFiscalYearMaturityScheduleTable [Line Items] | |
Equity funding and contribution agreement, amount committed | $2,750,000,000 |
Equity commitment, outstanding amount | $528,000,000 |
Components_of_Accumulated_Othe2
Components of Accumulated Other Comprehensive Loss, Net (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||
Beginning balance - accumulated other comprehensive loss attributable to BHE shareholders, net | ($494) | |
Other comprehensive income (loss), unrecognized amounts on retirement benefits | 22 | 7 |
Other comprehensive income (loss), foreign currency translation adjustment | -424 | 29 |
Other comprehensive income (loss), unrealized gains on available-for-sale securities | 166 | 173 |
Other comprehensive income (loss), unrealized gains on cash flow hedges | 1 | 13 |
Other comprehensive income (loss) | -235 | 222 |
Ending balance - accumulated other comprehensive loss attributable to BHE shareholders, net | -729 | |
Accumulated Other Comprehensive (Loss) Income, Net [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||
Beginning balance - unrecognized amounts on retirement benefits | -490 | -559 |
Beginning balance - foreign currency translation adjustment | -412 | -98 |
Beginning balance - unrealized gains on available-for-sale securities | 390 | 524 |
Beginning balance - unrealized gains on cash flow hedges | 18 | 36 |
Beginning balance - accumulated other comprehensive loss attributable to BHE shareholders, net | -494 | -97 |
Other comprehensive income (loss), unrecognized amounts on retirement benefits | 22 | 7 |
Other comprehensive income (loss), foreign currency translation adjustment | -424 | 29 |
Other comprehensive income (loss), unrealized gains on available-for-sale securities | 166 | 173 |
Other comprehensive income (loss), unrealized gains on cash flow hedges | 1 | 13 |
Other comprehensive income (loss) | -235 | 222 |
Ending balance - unrecognized amounts on retirement benefits | -468 | -552 |
Ending balance - foreign currency translation adjustment | -836 | -69 |
Ending balance - unrealized gains on available-for-sale securities | 556 | 697 |
Ending balance - unrealized gains on cash flow hedges | 19 | 49 |
Ending balance - accumulated other comprehensive loss attributable to BHE shareholders, net | ($729) | $125 |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | |||||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |||
Segment Reporting Information [Line Items] | ||||||
Revenues | $4,221 | $4,249 | ||||
Sales revenue from energy operations | 3,773 | 3,891 | ||||
Real estate | 448 | 358 | ||||
Depreciation and amortization - energy operations | 581 | 475 | ||||
Depreciation and amortization | 587 | 482 | ||||
Operating income | 930 | 950 | ||||
Interest expense | 472 | 418 | ||||
Capitalized interest | 29 | 29 | ||||
Allowance for equity funds | 31 | 27 | ||||
Interest and dividend income | 26 | 9 | ||||
Other, net | 26 | 7 | ||||
Income before income tax expense and equity income | 570 | 604 | ||||
Assets | 82,273 | 82,304 | ||||
PacifiCorp [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Sales revenue from energy operations | 1,250 | 1,288 | ||||
Depreciation and amortization - energy operations | 194 | 183 | ||||
Operating income | 273 | 292 | ||||
Interest expense | 95 | 96 | ||||
Assets | 23,368 | 23,466 | ||||
MidAmerican Funding [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Sales revenue from energy operations | 951 | 1,230 | ||||
Depreciation and amortization - energy operations | 100 | 84 | ||||
Operating income | 107 | 153 | ||||
Interest expense | 50 | 46 | ||||
Assets | 15,360 | 15,368 | ||||
NV Energy [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Sales revenue from energy operations | 706 | 638 | ||||
Depreciation and amortization - energy operations | 101 | 92 | ||||
Operating income | 121 | 107 | ||||
Interest expense | 63 | 70 | ||||
Assets | 14,240 | 14,454 | ||||
Northern Powergrid [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Sales revenue from energy operations | 324 | 317 | ||||
Depreciation and amortization - energy operations | 48 | 48 | ||||
Operating income | 193 | 181 | ||||
Interest expense | 35 | 38 | ||||
Assets | 6,939 | 7,076 | ||||
BHE Pipeline Group [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Sales revenue from energy operations | 332 | 386 | ||||
Depreciation and amortization - energy operations | 50 | 48 | ||||
Operating income | 200 | 230 | ||||
Interest expense | 18 | 19 | ||||
Assets | 5,000 | 4,968 | ||||
BHE Transmission [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Sales revenue from energy operations | 125 | 0 | ||||
Depreciation and amortization - energy operations | 38 | 0 | ||||
Operating income | 46 | -2 | ||||
Interest expense | 36 | 0 | ||||
Assets | 7,716 | 7,992 | ||||
BHE Renewables [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Sales revenue from energy operations | 124 | 69 | ||||
Depreciation and amortization - energy operations | 49 | 21 | ||||
Operating income | 6 | 29 | ||||
Interest expense | 46 | 41 | ||||
Assets | 6,451 | 6,123 | ||||
HomeServices [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Real estate | 448 | 358 | ||||
Depreciation and amortization | 6 | 7 | ||||
Operating income | -2 | -12 | ||||
Interest expense | 1 | 1 | ||||
Assets | 1,800 | 1,629 | ||||
BHE And Other [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Sales revenue from energy operations | -39 | [1] | -37 | [1] | ||
Depreciation and amortization - energy operations | 1 | [1] | -1 | [1] | ||
Operating income | -14 | [1] | -28 | [1] | ||
Interest expense | 128 | [1] | 107 | [1] | ||
Assets | 1,399 | [1] | 1,228 | [1] | ||
UNITED STATES | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenues | 3,769 | 3,905 | ||||
Income before income tax expense and equity income | 358 | 447 | ||||
UNITED KINGDOM | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenues | 324 | 315 | ||||
Income before income tax expense and equity income | 164 | 143 | ||||
CANADA | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenues | 127 | 4 | ||||
Income before income tax expense and equity income | 35 | -1 | ||||
The Philippines and other [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenues | 1 | 25 | ||||
Income before income tax expense and equity income | $13 | $15 | ||||
[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 $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 |
Goodwill [Roll Forward] | |
12/31/14 | $9,343 |
Acquisitions | 31 |
Foreign currency translation | -182 |
Other | -6 |
3/31/15 | 9,186 |
PacifiCorp [Member] | |
Goodwill [Roll Forward] | |
12/31/14 | 1,129 |
Acquisitions | 0 |
Foreign currency translation | 0 |
Other | 0 |
3/31/15 | 1,129 |
MidAmerican Funding [Member] | |
Goodwill [Roll Forward] | |
12/31/14 | 2,102 |
Acquisitions | 0 |
Foreign currency translation | 0 |
Other | 0 |
3/31/15 | 2,102 |
NV Energy [Member] | |
Goodwill [Roll Forward] | |
12/31/14 | 2,369 |
Acquisitions | 0 |
Foreign currency translation | 0 |
Other | 0 |
3/31/15 | 2,369 |
Northern Powergrid [Member] | |
Goodwill [Roll Forward] | |
12/31/14 | 1,100 |
Acquisitions | 0 |
Foreign currency translation | -40 |
Other | 0 |
3/31/15 | 1,060 |
BHE Pipeline Group [Member] | |
Goodwill [Roll Forward] | |
12/31/14 | 127 |
Acquisitions | 0 |
Foreign currency translation | 0 |
Other | -6 |
3/31/15 | 121 |
BHE Transmission [Member] | |
Goodwill [Roll Forward] | |
12/31/14 | 1,657 |
Acquisitions | 31 |
Foreign currency translation | -142 |
Other | 0 |
3/31/15 | 1,546 |
BHE Renewables [Member] | |
Goodwill [Roll Forward] | |
12/31/14 | 95 |
Acquisitions | 0 |
Foreign currency translation | 0 |
Other | 0 |
3/31/15 | 95 |
HomeServices [Member] | |
Goodwill [Roll Forward] | |
12/31/14 | 761 |
Acquisitions | 0 |
Foreign currency translation | 0 |
Other | 0 |
3/31/15 | 761 |
Other [Member] | |
Goodwill [Roll Forward] | |
12/31/14 | 3 |
Acquisitions | 0 |
Foreign currency translation | 0 |
Other | 0 |
3/31/15 | $3 |