Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Entity Information [Line Items] | ' | ' |
Entity Registrant Name | 'VECTREN UTILITY HOLDINGS INC | ' |
Entity Central Index Key | '0001129542 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 10 |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
CONSOLIDATED_CONDENSED_BALANCE
CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Assets, Current [Abstract] | ' | ' |
Cash & cash equivalents | $6.20 | $13.30 |
Accounts receivable - less reserves of $4.3 & $5.0, respectively | 69.9 | 81.8 |
Accrued unbilled revenues | 33.1 | 93.6 |
Inventories | 98.5 | 114 |
Recoverable fuel & natural gas costs | 19.5 | 25.3 |
Prepayments & other current assets | 54.1 | 52.3 |
Total current assets | 281.3 | 380.3 |
Utility Plant [Abstract] | ' | ' |
Original cost | 5,326.90 | 5,176.80 |
Less: accumulated depreciation & amortization | 2,136.30 | 2,057.20 |
Net utility plant | 3,190.60 | 3,119.60 |
Investments in unconsolidated affiliates | 0.2 | 0.2 |
Other Investments | 32.6 | 32.6 |
Nonutility plant - net | 143.5 | 146.9 |
Goodwill - net | 205 | 205 |
Regulatory assets | 135.4 | 126.5 |
Other assets | 27.4 | 35.7 |
TOTAL ASSETS | 4,016 | 4,046.80 |
Current Liabilities [Abstract] | ' | ' |
Accounts payable | 96.2 | 121 |
Accounts payable to affiliated companies | 0 | 29.7 |
Payables to other Vectren companies | 23.1 | 25.1 |
Accrued liabilities | 103.2 | 139.3 |
Short-term borrowings | 176.1 | 116.7 |
Current maturities of long-term debt | 0 | 105 |
Total current liabilities | 398.6 | 536.8 |
Long-Term Debt - Net of Current Maturities | 1,107 | 1,103.40 |
Deferred Income Taxes & Other Liabilities [Abstract] | ' | ' |
Deferred income taxes | 627.2 | 578.5 |
Regulatory liabilities | 381.9 | 364.2 |
Deferred credits & other liabilities | 81 | 73.9 |
Total deferred credits and other liabilities | 1,090.10 | 1,016.60 |
Commitments & Contingencies (Notes 8 - 10) | ' | ' |
Common Shareholder's Equity [Abstract] | ' | ' |
Common stock (no par value) | 786.1 | 781.6 |
Retained earnings | 634.2 | 608.4 |
Total common shareholders' equity | 1,420.30 | 1,390 |
TOTAL LIABILITIES and SHAREHOLDERS' EQUITY | $4,016 | $4,046.80 |
CONSOLIDATED_CONDENSED_BALANCE1
CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Assets, Current [Abstract] | ' | ' |
Allowance for Doubtful Accounts Receivable, Current | $4.30 | $5 |
CONSOLIDATED_CONDENSED_STATEME
CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
OPERATING REVENUES [Abstract] | ' | ' | ' | ' |
Gas utility | $101.90 | $100.20 | $555.80 | $508.50 |
Electric utility | 165.8 | 167.9 | 470 | 456.6 |
Other | 0 | -0.4 | 0.2 | 0.5 |
Total operating revenues | 267.7 | 267.7 | 1,026 | 965.6 |
OPERATING EXPENSES [Abstract] | ' | ' | ' | ' |
Cost of gas sold | 27.5 | 28.1 | 235.4 | 197 |
Cost of fuel & purchased power | 50.4 | 52.9 | 154.5 | 144.6 |
Other operating | 74 | 71.8 | 236.9 | 229.5 |
Depreciation & Amortization | 49.7 | 46.3 | 146.8 | 142.7 |
Taxes other than income taxes | 11.6 | 11.5 | 41.3 | 39 |
Total operating expenses | 213.2 | 210.6 | 814.9 | 752.8 |
OPERATING INCOME | 54.5 | 57.1 | 211.1 | 212.8 |
Nonoperating Income (Expense) [Abstract] | ' | ' | ' | ' |
Other income - net | 2 | 2.3 | 6.8 | 5.2 |
Interest Expense | 15.6 | 17.8 | 49.2 | 53.5 |
INCOME BEFORE INCOME TAXES | 40.9 | 41.6 | 168.7 | 164.5 |
Income taxes | 15.6 | 15.2 | 64.1 | 62 |
NET INCOME | $25.30 | $26.40 | $104.60 | $102.50 |
CONSOLIDATED_CONDENSED_STATEME1
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
CASH FLOWS FROM OPERATING ACTIVITIES [Abstract] | ' | ' |
Profitability Measure - Net income (loss) | $104.60 | $102.50 |
Adjustments to Reconcile Net Income to Cash from Operating Activities [Abstract] | ' | ' |
Depreciation & Amortization | 146.8 | 142.7 |
Deferred income taxes & investment tax credits | 27.9 | 38.1 |
Expense portion of pension & postretirement periodic benefit cost | 4.2 | 3.4 |
Provision for uncollectible accounts | 4.8 | 5.9 |
Other non-cash expense - net | 4.7 | 4.8 |
Changes in working capital accounts [Abstract] | ' | ' |
Accounts receivable & accrued unbilled revenue | 67.7 | 97.1 |
Inventories | 15.5 | 14.1 |
Recoverable/refundable fuel & natural gas costs | 5.8 | -7.9 |
Prepayments & other current assets | 4.3 | 10.3 |
Accounts payable, including to Vectren companies & affiliated companies | -64 | -52.4 |
Accrued liabilities | -16.5 | -17.3 |
Changes in noncurrent ssets | -6.5 | -26.4 |
Changes in noncurrent liabilities | -3.9 | -17.6 |
Net cash provided by operating activities | 295.4 | 297.3 |
Proceeds from: | ' | ' |
Long-term debt - net of issuance costs | 232.7 | 99.5 |
Additional capital contribution | 4.5 | 5.4 |
Requirements for: | ' | ' |
Dividends to parent | -78.8 | -76 |
Retirement of long-term debt | -337.5 | 0 |
Net change in short-term borrowings | 59.4 | -142.7 |
Net cash used in financing activities | -119.7 | -113.8 |
CASH FLOWS FROM INVESTING ACTIVITIES [Abstract] | ' | ' |
Proceeds from other investing activities | 0.8 | 2.3 |
Requirements for: | ' | ' |
Capital expenditures, excluding AFUDC equity | -183.6 | -186.6 |
Other investments | 0 | -0.2 |
Net cash used in investing activities | -182.8 | -184.5 |
Net change in cash and cash equivalents | -7.1 | -1 |
Cash and cash equivalents at beginning of period | 13.3 | 6 |
Cash and cash equivalents at end of period | $6.20 | $5 |
Organization_and_Nature_of_Ope
Organization and Nature of Operations | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Organization and Nature of Operations | ' |
Organization and Nature of Operations | |
Vectren Utility Holdings, Inc. (the Company or Utility Holdings), an Indiana corporation, was formed on March 31, 2000 to serve as the intermediate holding company for Vectren Corporation’s (Vectren) three operating public utilities: Indiana Gas Company, Inc. (Indiana Gas or Vectren North), Southern Indiana Gas and Electric Company (SIGECO or Vectren South), and Vectren Energy Delivery of Ohio, Inc. (VEDO). Utility Holdings also has other assets that provide information technology and other services to the three utilities. Vectren, an Indiana corporation, is an energy holding company headquartered in Evansville, Indiana and was organized on June 10, 1999. Both Vectren and Utility Holdings are holding companies as defined by the Energy Policy Act of 2005 (Energy Act). | |
Indiana Gas provides energy delivery services to approximately 570,000 natural gas customers located in central and southern Indiana. SIGECO provides energy delivery services to approximately 142,000 electric customers and approximately 110,000 gas customers located near Evansville in southwestern Indiana. SIGECO also owns and operates electric generation assets to serve its electric customers and optimizes those assets in the wholesale power market. Indiana Gas and SIGECO generally do business as Vectren Energy Delivery of Indiana. VEDO provides energy delivery services to approximately 311,000 natural gas customers located near Dayton in west central Ohio. |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Basis of Presentation [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation | |
The interim condensed consolidated financial statements included in this report have been prepared by the Company, without audit, as provided in the rules and regulations of the Securities and Exchange Commission and include a review of subsequent events through the date the financial statements were issued. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been omitted as provided in such rules and regulations. The information in this report reflects all adjustments which are, in the opinion of management, necessary to fairly state the interim periods presented, inclusive of adjustments that are normal and recurring in nature. These condensed consolidated financial statements and related notes should be read in conjunction with the Company’s audited annual consolidated financial statements for the year ended December 31, 2012, filed with the Securities and Exchange Commission on March 1, 2013, on Form 10-K. Because of the seasonal nature of the Company’s utility operations, the results shown on a quarterly basis are not necessarily indicative of annual results. | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. |
Subsidiary_Guarantor_and_Conso
Subsidiary Guarantor and Consolidating Information | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Subsidiary Guarantor and Consolidating Information [Abstract] | ' | |||||||||||||||
Subsidiary Guarantor and Consolidating Information [Text Block] | ' | |||||||||||||||
Subsidiary Guarantor and Consolidating Information | ||||||||||||||||
The Company’s three operating utility companies, SIGECO, Indiana Gas, and VEDO are guarantors of Utility Holdings’ $350 million in short-term credit facilities, of which approximately $176 million is outstanding at September 30, 2013, and Utility Holdings’ has unsecured senior notes with a par value of $725 million outstanding at September 30, 2013. The guarantees are full and unconditional and joint and several, and Utility Holdings has no direct subsidiaries other than the subsidiary guarantors. However, Utility Holdings does have operations other than those of the subsidiary guarantors. Pursuant to Item 3-10 of Regulation S-X, disclosure of the results of operations and balance sheets of the subsidiary guarantors, which are 100 percent owned, separate from the parent company’s operations is required. Following are consolidating financial statements including information on the combined operations of the subsidiary guarantors separate from the other operations of the parent company. Pursuant to a tax sharing agreement, consolidating tax effects, which are calculated on a separate return basis, are reflected at the parent level. | ||||||||||||||||
Condensed Consolidating Balance Sheet as of September 30, 2013 (in millions): | ||||||||||||||||
ASSETS | Subsidiary | Parent | Eliminations & | |||||||||||||
Guarantors | Company | Reclassifications | Consolidated | |||||||||||||
Current Assets | ||||||||||||||||
Cash & cash equivalents | $ | 5.4 | $ | 0.8 | $ | — | $ | 6.2 | ||||||||
Accounts receivable - less reserves | 69.9 | — | — | 69.9 | ||||||||||||
Intercompany receivables | — | 84.4 | (84.4 | ) | — | |||||||||||
Accrued unbilled revenues | 33.1 | — | — | 33.1 | ||||||||||||
Inventories | 98.4 | 0.1 | — | 98.5 | ||||||||||||
Recoverable fuel & natural gas costs | 19.5 | — | — | 19.5 | ||||||||||||
Prepayments & other current assets | 49.6 | 30.3 | (25.8 | ) | 54.1 | |||||||||||
Total current assets | 275.9 | 115.6 | (110.2 | ) | 281.3 | |||||||||||
Utility Plant | ||||||||||||||||
Original cost | 5,326.90 | — | — | 5,326.90 | ||||||||||||
Less: accumulated depreciation & amortization | 2,136.30 | — | — | 2,136.30 | ||||||||||||
Net utility plant | 3,190.60 | — | — | 3,190.60 | ||||||||||||
Investments in consolidated subsidiaries | — | 1,364.50 | (1,364.5 | ) | — | |||||||||||
Notes receivable from consolidated subsidiaries | — | 696.4 | (696.4 | ) | — | |||||||||||
Investments in unconsolidated affiliates | 0.2 | — | — | 0.2 | ||||||||||||
Other investments | 28.1 | 4.5 | — | 32.6 | ||||||||||||
Nonutility property - net | 2.3 | 141.2 | — | 143.5 | ||||||||||||
Goodwill - net | 205 | — | — | 205 | ||||||||||||
Regulatory assets | 113.2 | 22.2 | — | 135.4 | ||||||||||||
Other assets | 33.8 | 1.1 | (7.5 | ) | 27.4 | |||||||||||
TOTAL ASSETS | $ | 3,849.10 | $ | 2,345.50 | $ | (2,178.6 | ) | $ | 4,016.00 | |||||||
LIABILITIES & SHAREHOLDER'S EQUITY | Subsidiary | Parent | Eliminations & | |||||||||||||
Guarantors | Company | Reclassifications | Consolidated | |||||||||||||
Current Liabilities | ||||||||||||||||
Accounts payable | $ | 91.5 | $ | 4.7 | $ | — | $ | 96.2 | ||||||||
Intercompany payables | 11.3 | — | (11.3 | ) | — | |||||||||||
Payables to other Vectren companies | 23.1 | — | — | 23.1 | ||||||||||||
Accrued liabilities | 113.7 | 15.3 | (25.8 | ) | 103.2 | |||||||||||
Short-term borrowings | — | 176.1 | — | 176.1 | ||||||||||||
Intercompany short-term borrowings | 73.1 | — | (73.1 | ) | — | |||||||||||
Total current liabilities | 312.7 | 196.1 | (110.2 | ) | 398.6 | |||||||||||
Long-Term Debt | ||||||||||||||||
Long-term debt | 382.4 | 724.6 | — | 1,107.00 | ||||||||||||
Long-term debt due to VUHI | 696.4 | — | (696.4 | ) | — | |||||||||||
Total long-term debt - net | 1,078.80 | 724.6 | (696.4 | ) | 1,107.00 | |||||||||||
Deferred Income Taxes & Other Liabilities | ||||||||||||||||
Deferred income taxes | 626.9 | 0.3 | — | 627.2 | ||||||||||||
Regulatory liabilities | 380.3 | 1.6 | — | 381.9 | ||||||||||||
Deferred credits & other liabilities | 85.9 | 2.6 | (7.5 | ) | 81 | |||||||||||
Total deferred credits & other liabilities | 1,093.10 | 4.5 | (7.5 | ) | 1,090.10 | |||||||||||
Common Shareholder's Equity | ||||||||||||||||
Common stock (no par value) | 799.3 | 786.1 | (799.3 | ) | 786.1 | |||||||||||
Retained earnings | 565.2 | 634.2 | (565.2 | ) | 634.2 | |||||||||||
Total common shareholder's equity | 1,364.50 | 1,420.30 | (1,364.5 | ) | 1,420.30 | |||||||||||
TOTAL LIABILITIES & SHAREHOLDER'S EQUITY | $ | 3,849.10 | $ | 2,345.50 | $ | (2,178.6 | ) | $ | 4,016.00 | |||||||
Condensed Consolidating Balance Sheet as of December 31, 2012 (in millions): | ||||||||||||||||
ASSETS | Subsidiary | Parent | Eliminations & | |||||||||||||
Guarantors | Company | Reclassifications | Consolidated | |||||||||||||
Current Assets | ||||||||||||||||
Cash & cash equivalents | $ | 12.5 | $ | 0.8 | $ | — | $ | 13.3 | ||||||||
Accounts receivable - less reserves | 81.8 | — | — | 81.8 | ||||||||||||
Intercompany receivables | — | 145.1 | (145.1 | ) | — | |||||||||||
Accrued unbilled revenues | 93.6 | — | — | 93.6 | ||||||||||||
Inventories | 114 | — | — | 114 | ||||||||||||
Recoverable fuel & natural gas costs | 25.3 | — | — | 25.3 | ||||||||||||
Prepayments & other current assets | 52 | 5.8 | (5.5 | ) | 52.3 | |||||||||||
Total current assets | 379.2 | 151.7 | (150.6 | ) | 380.3 | |||||||||||
Utility Plant | ||||||||||||||||
Original cost | 5,176.60 | 0.2 | — | 5,176.80 | ||||||||||||
Less: accumulated depreciation & amortization | 2,057.20 | — | — | 2,057.20 | ||||||||||||
Net utility plant | 3,119.40 | 0.2 | — | 3,119.60 | ||||||||||||
Investments in consolidated subsidiaries | — | 1,329.20 | (1,329.2 | ) | — | |||||||||||
Notes receivable from consolidated subsidiaries | — | 679.7 | (679.7 | ) | — | |||||||||||
Investments in unconsolidated affiliates | 0.2 | — | — | 0.2 | ||||||||||||
Other investments | 27.8 | 4.8 | — | 32.6 | ||||||||||||
Nonutility property - net | 2.6 | 144.3 | — | 146.9 | ||||||||||||
Goodwill - net | 205 | — | — | 205 | ||||||||||||
Regulatory assets | 104.1 | 22.4 | — | 126.5 | ||||||||||||
Other assets | 40.4 | 1.7 | (6.4 | ) | 35.7 | |||||||||||
TOTAL ASSETS | $ | 3,878.70 | $ | 2,334.00 | $ | (2,165.9 | ) | $ | 4,046.80 | |||||||
LIABILITIES & SHAREHOLDER'S EQUITY | Subsidiary | Parent | Eliminations & | |||||||||||||
Guarantors | Company | Reclassifications | Consolidated | |||||||||||||
Current Liabilities | ||||||||||||||||
Accounts payable | $ | 114.8 | $ | 6.2 | $ | — | $ | 121 | ||||||||
Accounts payable to affiliated companies | 29.7 | — | — | 29.7 | ||||||||||||
Intercompany payables | 10.6 | — | (10.6 | ) | — | |||||||||||
Payables to other Vectren companies | 25.1 | — | — | 25.1 | ||||||||||||
Accrued liabilities | 131.3 | 13.5 | (5.5 | ) | 139.3 | |||||||||||
Short-term borrowings | — | 116.7 | — | 116.7 | ||||||||||||
Intercompany short-term borrowings | 134.5 | — | (134.5 | ) | — | |||||||||||
Current maturities of long-term debt | 5 | 100 | — | 105 | ||||||||||||
Total current liabilities | 451 | 236.4 | (150.6 | ) | 536.8 | |||||||||||
Long-Term Debt | ||||||||||||||||
Long-term debt - net of current maturities | 382.3 | 721.1 | — | 1,103.40 | ||||||||||||
Long-term debt due to VUHI | 679.7 | — | (679.7 | ) | — | |||||||||||
Total long-term debt - net | 1,062.00 | 721.1 | (679.7 | ) | 1,103.40 | |||||||||||
Deferred Income Taxes & Other Liabilities | ||||||||||||||||
Deferred income taxes | 595.4 | (16.9 | ) | — | 578.5 | |||||||||||
Regulatory liabilities | 362.2 | 2 | — | 364.2 | ||||||||||||
Deferred credits & other liabilities | 78.9 | 1.4 | (6.4 | ) | 73.9 | |||||||||||
Total deferred credits & other liabilities | 1,036.50 | (13.5 | ) | (6.4 | ) | 1,016.60 | ||||||||||
Common Shareholder's Equity | ||||||||||||||||
Common stock (no par value) | 787.8 | 781.6 | (787.8 | ) | 781.6 | |||||||||||
Retained earnings | 541.4 | 608.4 | (541.4 | ) | 608.4 | |||||||||||
Total common shareholder's equity | 1,329.20 | 1,390.00 | (1,329.2 | ) | 1,390.00 | |||||||||||
TOTAL LIABILITIES & SHAREHOLDER'S EQUITY | $ | 3,878.70 | $ | 2,334.00 | $ | (2,165.9 | ) | $ | 4,046.80 | |||||||
Condensed Consolidating Statement of Income for the three months ended September 30, 2013 (in millions): | ||||||||||||||||
Subsidiary | Parent | Eliminations & | Consolidated | |||||||||||||
Guarantors | Company | Reclassifications | ||||||||||||||
OPERATING REVENUES | ||||||||||||||||
Gas utility | $ | 101.9 | $ | — | $ | — | $ | 101.9 | ||||||||
Electric utility | 165.8 | — | — | 165.8 | ||||||||||||
Other | — | 9.4 | (9.4 | ) | — | |||||||||||
Total operating revenues | 267.7 | 9.4 | (9.4 | ) | 267.7 | |||||||||||
OPERATING EXPENSES | ||||||||||||||||
Cost of gas sold | 27.5 | — | — | 27.5 | ||||||||||||
Cost of fuel & purchased power | 50.4 | — | — | 50.4 | ||||||||||||
Other operating | 83.1 | — | (9.1 | ) | 74 | |||||||||||
Depreciation & amortization | 44.1 | 5.4 | 0.2 | 49.7 | ||||||||||||
Taxes other than income taxes | 11.2 | 0.4 | — | 11.6 | ||||||||||||
Total operating expenses | 216.3 | 5.8 | (8.9 | ) | 213.2 | |||||||||||
OPERATING INCOME | 51.4 | 3.6 | (0.5 | ) | 54.5 | |||||||||||
Other income - net | 1.2 | 9.8 | (9.0 | ) | 2 | |||||||||||
Interest expense | 14.7 | 10.4 | (9.5 | ) | 15.6 | |||||||||||
INCOME BEFORE INCOME TAXES | 37.9 | 3 | — | 40.9 | ||||||||||||
Income taxes | 15 | 0.6 | — | 15.6 | ||||||||||||
Equity in earnings of consolidated companies, net of tax | — | 22.9 | (22.9 | ) | — | |||||||||||
NET INCOME | $ | 22.9 | $ | 25.3 | $ | (22.9 | ) | $ | 25.3 | |||||||
Condensed Consolidating Statement of Income for the three months ended September 30, 2012 (in millions): | ||||||||||||||||
Subsidiary | Parent | Eliminations & | Consolidated | |||||||||||||
Guarantors | Company | Reclassifications | ||||||||||||||
OPERATING REVENUES | ||||||||||||||||
Gas utility | $ | 100.2 | $ | — | $ | — | $ | 100.2 | ||||||||
Electric utility | 167.9 | — | — | 167.9 | ||||||||||||
Other | — | 10.2 | (10.6 | ) | (0.4 | ) | ||||||||||
Total operating revenues | 268.1 | 10.2 | (10.6 | ) | 267.7 | |||||||||||
OPERATING EXPENSES | ||||||||||||||||
Cost of gas sold | 28.1 | — | — | 28.1 | ||||||||||||
Cost of fuel & purchased power | 52.9 | — | — | 52.9 | ||||||||||||
Other operating | 82.3 | — | (10.5 | ) | 71.8 | |||||||||||
Depreciation & amortization | 40.8 | 5.3 | 0.2 | 46.3 | ||||||||||||
Taxes other than income taxes | 11.1 | 0.4 | — | 11.5 | ||||||||||||
Total operating expenses | 215.2 | 5.7 | (10.3 | ) | 210.6 | |||||||||||
OPERATING INCOME | 52.9 | 4.5 | (0.3 | ) | 57.1 | |||||||||||
Other income - net | 1.8 | 10.4 | (9.9 | ) | 2.3 | |||||||||||
Interest expense | 16.2 | 11.8 | (10.2 | ) | 17.8 | |||||||||||
INCOME BEFORE INCOME TAXES | 38.5 | 3.1 | — | 41.6 | ||||||||||||
Income taxes | 14.5 | 0.7 | — | 15.2 | ||||||||||||
Equity in earnings of consolidated companies, net of tax | — | 24 | (24.0 | ) | — | |||||||||||
NET INCOME | $ | 24 | $ | 26.4 | $ | (24.0 | ) | $ | 26.4 | |||||||
Condensed Consolidating Statement of Income for the nine months ended September 30, 2013 (in millions): | ||||||||||||||||
Subsidiary | Parent | Eliminations & | Consolidated | |||||||||||||
Guarantors | Company | Reclassifications | ||||||||||||||
OPERATING REVENUES | ||||||||||||||||
Gas utility | 555.8 | — | — | 555.8 | ||||||||||||
Electric utility | 470 | — | — | 470 | ||||||||||||
Other | — | 28.4 | (28.2 | ) | 0.2 | |||||||||||
Total operating revenues | 1,025.80 | 28.4 | (28.2 | ) | 1,026.00 | |||||||||||
OPERATING EXPENSES | ||||||||||||||||
Cost of gas sold | 235.4 | — | — | 235.4 | ||||||||||||
Cost of fuel & purchased power | 154.5 | — | — | 154.5 | ||||||||||||
Other operating | 264.3 | — | (27.4 | ) | 236.9 | |||||||||||
Depreciation & amortization | 130.5 | 15.9 | 0.4 | 146.8 | ||||||||||||
Taxes other than income taxes | 40.1 | 1.2 | — | 41.3 | ||||||||||||
Total operating expenses | 824.8 | 17.1 | (27.0 | ) | 814.9 | |||||||||||
OPERATING INCOME | 201 | 11.3 | (1.2 | ) | 211.1 | |||||||||||
Other income - net | 4.9 | 28.6 | (26.7 | ) | 6.8 | |||||||||||
Interest expense | 44.7 | 32.4 | (27.9 | ) | 49.2 | |||||||||||
INCOME BEFORE INCOME TAXES | 161.2 | 7.5 | — | 168.7 | ||||||||||||
Income taxes | 63.8 | 0.3 | — | 64.1 | ||||||||||||
Equity in earnings of consolidated companies, net of tax | — | 97.4 | (97.4 | ) | — | |||||||||||
NET INCOME | 97.4 | 104.6 | (97.4 | ) | 104.6 | |||||||||||
Condensed Consolidating Statement of Income for the nine months ended September 30, 2012 (in millions): | ||||||||||||||||
Subsidiary | Parent | Eliminations & | Consolidated | |||||||||||||
Guarantors | Company | Reclassifications | ||||||||||||||
OPERATING REVENUES | ||||||||||||||||
Gas utility | 508.5 | — | — | 508.5 | ||||||||||||
Electric utility | 456.6 | — | — | 456.6 | ||||||||||||
Other | — | 30.1 | (29.6 | ) | 0.5 | |||||||||||
Total operating revenues | 965.1 | 30.1 | (29.6 | ) | 965.6 | |||||||||||
OPERATING EXPENSES | ||||||||||||||||
Cost of gas sold | 197 | — | — | 197 | ||||||||||||
Cost of fuel & purchased power | 144.6 | — | — | 144.6 | ||||||||||||
Other operating | 258.2 | 0.5 | (29.2 | ) | 229.5 | |||||||||||
Depreciation & amortization | 124.6 | 17.7 | 0.4 | 142.7 | ||||||||||||
Taxes other than income taxes | 37.8 | 1.1 | 0.1 | 39 | ||||||||||||
Total operating expenses | 762.2 | 19.3 | (28.7 | ) | 752.8 | |||||||||||
OPERATING INCOME | 202.9 | 10.8 | (0.9 | ) | 212.8 | |||||||||||
Other income - net | 4 | 30.9 | (29.7 | ) | 5.2 | |||||||||||
Interest expense | 49.1 | 35 | (30.6 | ) | 53.5 | |||||||||||
INCOME BEFORE INCOME TAXES | 157.8 | 6.7 | — | 164.5 | ||||||||||||
Income taxes | 62.2 | (0.2 | ) | — | 62 | |||||||||||
Equity in earnings of consolidated companies, net of tax | — | 95.6 | (95.6 | ) | — | |||||||||||
NET INCOME | 95.6 | 102.5 | (95.6 | ) | 102.5 | |||||||||||
Condensed Consolidating Statement of Cash Flows for the nine months ended September 30, 2013 (in millions): | ||||||||||||||||
Subsidiary | Parent | Eliminations | Consolidated | |||||||||||||
Guarantors | Company | |||||||||||||||
NET CASH PROVIDED BY OPERATING ACTIVITIES | $ | 276.1 | $ | 19.3 | $ | — | $ | 295.4 | ||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||||||
Proceeds from | ||||||||||||||||
Long-term debt - net of issuance costs | 232.7 | 124.4 | (124.4 | ) | 232.7 | |||||||||||
Additional capital contribution from parent | 11.5 | 4.5 | (11.5 | ) | 4.5 | |||||||||||
Requirements for: | ||||||||||||||||
Dividends to parent | (73.5 | ) | (78.8 | ) | 73.5 | (78.8 | ) | |||||||||
Retirement of long term debt | (223.6 | ) | (221.6 | ) | 107.7 | (337.5 | ) | |||||||||
Net change in intercompany short-term borrowings | (61.5 | ) | — | 61.5 | — | |||||||||||
Net change in short-term borrowings | — | 59.4 | — | 59.4 | ||||||||||||
Net cash used in financing activities | (114.4 | ) | (112.1 | ) | 106.8 | (119.7 | ) | |||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||||||||||
Proceeds from | ||||||||||||||||
Consolidated subsidiary distributions | — | 73.5 | (73.5 | ) | — | |||||||||||
Other investing activities | 0.6 | 0.2 | — | 0.8 | ||||||||||||
Requirements for: | ||||||||||||||||
Capital expenditures, excluding AFUDC equity | (169.4 | ) | (14.2 | ) | — | (183.6 | ) | |||||||||
Consolidated subsidiary investments | — | (11.5 | ) | 11.5 | — | |||||||||||
Net change in long-term intercompany notes receivable | — | (16.7 | ) | 16.7 | — | |||||||||||
Net change in short-term intercompany notes receivable | — | 61.5 | (61.5 | ) | — | |||||||||||
Net cash used in investing activities | (168.8 | ) | 92.8 | (106.8 | ) | (182.8 | ) | |||||||||
Net change in cash & cash equivalents | (7.1 | ) | — | — | (7.1 | ) | ||||||||||
Cash & cash equivalents at beginning of period | 12.5 | 0.8 | — | 13.3 | ||||||||||||
Cash & cash equivalents at end of period | $ | 5.4 | $ | 0.8 | $ | — | $ | 6.2 | ||||||||
Condensed Consolidating Statement of Cash Flows for the nine months ended September 30, 2012 (in millions): | ||||||||||||||||
Subsidiary | Parent | Eliminations | Consolidated | |||||||||||||
Guarantors | Company | |||||||||||||||
NET CASH PROVIDED BY OPERATING ACTIVITIES | $ | 263.6 | $ | 33.7 | $ | — | $ | 297.3 | ||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||||||
Proceeds from: | ||||||||||||||||
Additional capital contribution to parent | 3.5 | 5.4 | (3.5 | ) | 5.4 | |||||||||||
Long-term debt, net of issuance costs | — | 99.5 | — | 99.5 | ||||||||||||
Requirements for dividends to parent | (47.2 | ) | (76.0 | ) | 47.2 | (76.0 | ) | |||||||||
Net change in intercompany short-term borrowings | (41.7 | ) | — | 41.7 | — | |||||||||||
Net change in short-term borrowings | — | (142.7 | ) | — | (142.7 | ) | ||||||||||
Net cash used in financing activities | (85.4 | ) | (113.8 | ) | 85.4 | (113.8 | ) | |||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||||||||||
Proceeds from: | ||||||||||||||||
Consolidated subsidiary distributions | — | 47.2 | (47.2 | ) | — | |||||||||||
Other investing activities | — | 2.3 | — | 2.3 | ||||||||||||
Requirements for: | ||||||||||||||||
Capital expenditures, excluding AFUDC equity | (179.8 | ) | (6.8 | ) | — | (186.6 | ) | |||||||||
Consolidated subsidiary investments | — | (3.5 | ) | 3.5 | — | |||||||||||
Other investing activities | (0.2 | ) | — | — | (0.2 | ) | ||||||||||
Net change in short-term intercompany notes receivable | — | 41.7 | (41.7 | ) | — | |||||||||||
Net cash used in investing activities | (180.0 | ) | 80.9 | (85.4 | ) | (184.5 | ) | |||||||||
Net change in cash & cash equivalents | (1.8 | ) | 0.8 | — | (1.0 | ) | ||||||||||
Cash & cash equivalents at beginning of period | 5.3 | 0.7 | — | 6 | ||||||||||||
Cash & cash equivalents at end of period | $ | 3.5 | $ | 1.5 | $ | — | $ | 5 | ||||||||
Excise_and_Utility_Receipts_Ta
Excise and Utility Receipts Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Excise and Utility Receipts Taxes [Abstract] | ' |
Excise and Utility Receipts Taxes | ' |
Excise and Utility Receipts Taxes | |
Excise taxes and a portion of utility receipts taxes are included in rates charged to customers. Accordingly, the Company records these taxes received as a component of operating revenues, which totaled $4.8 million in both the three months ended September 30, 2013 and 2012. For the nine months ended September 30, 2013 and 2012, these taxes totaled $20.9 million and $19.1 million, respectively. Expense associated with excise and utility receipts taxes are recorded as a component of Taxes other than income taxes. |
Accruals_for_Utility_and_NonUt
Accruals for Utility and NonUtility Plant | 9 Months Ended |
Sep. 30, 2013 | |
Accruals for Utility & Nonutility Plant [Abstract] | ' |
Accruals for Utility and NonUtility Plant [Text Block] | ' |
As of September 30, 2013 and December 31, 2012, the Company has accruals related to utility and nonutility plant purchases totaling approximately $9.5 million and $7.1 million, respectively. |
Transactions_with_Other_Vectre
Transactions with Other Vectren Companies and Affiliates | 9 Months Ended |
Sep. 30, 2013 | |
Transactions with Other Vectren Companies and Affiliates [Abstract] | ' |
Transactions With Other Vectren Companies and Affiliates [Text Block] | ' |
Transactions with Other Vectren Companies and Affiliates | |
Vectren Fuels, Inc. (Vectren Fuels) | |
Vectren Fuels, a wholly owned subsidiary of Vectren, owns coal mines from which SIGECO purchases coal used for electric generation. The price of coal that is charged by Vectren Fuels to SIGECO is priced consistent with contracts reviewed by the OUCC and on file with the IURC. Amounts purchased for the three months ended September 30, 2013 and 2012 totaled $24.5 million and $24.3 million, respectively, and for the nine months ended September 30, 2013 and 2012 totaled $76.1 million and $82.5 million, respectively. Amounts owed to Vectren Fuels at September 30, 2013 and December 31, 2012 are included in Payables to other Vectren companies in the Condensed Consolidated Balance Sheets. | |
Vectren Infrastructure Services Corporation (VISCO) | |
VISCO, a wholly owned subsidiary of Vectren, performs natural gas and water distribution, transmission, and construction repair and rehabilitation primarily in the Midwest and the repair and rehabilitation of gas, water, and wastewater facilities nationwide. In addition, VISCO also provides transmission pipeline construction and maintenance; pump station, compressor station, terminal and refinery construction; and hydrostatic testing to customers generally in the northern Midwest region. VISCO's customer's include Utility Holdings’ utilities. Fees incurred by Utility Holdings and its subsidiaries totaled $15.9 million and $17.0 million for the three months ended September 30, 2013 and 2012, respectively, and for the nine months ended September 30, 2013 and 2012 totaled $39.5 million and $37.7 million, respectively. Amounts owed to VISCO at September 30, 2013 and December 31, 2012 are included in Payables to other Vectren companies in the Condensed Consolidated Balance Sheets. | |
ProLiance Holdings, LLC (ProLiance) | |
Vectren has an investment in ProLiance, a nonutility affiliate of Vectren and Citizens Energy Group (Citizens). On June 18, 2013, ProLiance exited the natural gas marketing business through the disposition of certain of the net assets of its energy marketing business, ProLiance Energy, LLC (ProLiance Energy). ProLiance Energy provided services to a broad range of municipalities, utilities, industrial operations, schools, and healthcare institutions located throughout the Midwest and Southeast United States. ProLiance Energy’s customers included, among others, Vectren’s Indiana utilities as well as Citizens’ utilities. | |
Purchases from ProLiance for resale and for injections into storage for the three months ended September 30, 2012 totaled $57.2 million, and for the nine months ended September 30, 2013 and 2012 totaled $200.5 million and $186.9 million, respectively. The Company had no purchases during the third quarter of 2013 as a result of Proliance exiting the natural gas marketing business. The Company did not have any amounts owed to ProLiance for purchases at September 30, 2013 and amounts owed to ProLiance at December 31, 2012 were $29.7 million and are included in Accounts payable to affiliated companies in the Condensed Consolidated Balance Sheets. | |
Support Services & Purchases | |
Vectren provides corporate and general and administrative services to the Company and allocates costs to the Company. These costs have been allocated using various allocators, including number of employees, number of customers and/or the level of payroll, revenue contribution and capital expenditures. Allocations are at cost. For the three months ended September 30, 2013 and 2012, Utility Holdings received corporate allocations totaling $10.4 million and $8.2 million, respectively. For the nine months ended September 30, 2013 and 2012, Utility Holdings received corporate allocations totaling $36.7 million and $32.1 million, respectively. | |
The Company does not have share-based compensation plans and pension and other postretirement plans separate from Vectren and allocated costs include participation in Vectren's plans. The allocation methodology for retirement costs is consistent with FASB guidance related to “multiemployer” benefit accounting. |
Financing_Activities
Financing Activities | 9 Months Ended |
Sep. 30, 2013 | |
Debt Disclosure [Abstract] | ' |
Financing Activities | ' |
Financing Activities | |
SIGECO 2013 Debt Refund and Reissuance | |
During the second quarter of 2013, approximately $111 million of SIGECO's tax-exempt long-term debt was redeemed at par plus accrued interest. Approximately $62 million of tax-exempt long-term debt was reissued on April 26, 2013 at interest rates that are fixed to maturity, receiving proceeds, net of issuance costs, of approximately $60 million. The terms are $22.2 million at 4.00 percent per annum due in 2038, and $39.6 million at 4.05 percent per annum due in 2043. | |
The remaining approximately $49 million of the called debt was remarketed on August 13, 2013. The remarketed tax-exempt debt has a fixed interest rate of 1.95% per annum until September 13, 2017. SIGECO closed on this remarketing and received net proceeds of $48.3 million on August 28, 2013. | |
Utility Holdings Debt Transactions | |
On April 1, 2013, the Company executed an early redemption at par of $121.6 million 6.25 percent senior unsecured notes due in 2039. This debt was refinanced on June 5, 2013, with proceeds from a private placement note purchase agreement entered into on December 20, 2012 with a delayed draw feature. It provides for the following tranches of notes: (i) $45 million, 3.20 percent senior guaranteed notes, due June 5, 2028 and (ii) $80 million, 4.25 percent senior guaranteed notes, due June 5, 2043. Total proceeds received from these notes, net of issuance costs, were $44.8 million and $79.6 million. respectively. The notes are unconditionally guaranteed by Indiana Gas, SIGECO and VEDO. | |
On August 22, 2013, VUHI entered into a private placement Note Purchase Agreement pursuant to which institutional investors have agreed to purchase $150 million of Senior Guaranteed Notes with a fixed interest rate of 3.72 percent per annum, due December 5, 2023. The Notes will be unconditionally guaranteed by Indiana Gas, SIGECO, and VEDO. The Company expects to receive net proceeds of $149.1 million from the issuance of the senior guaranteed notes, which will be used to refinance $100 million of 5.25 percent senior notes that matured August 1, 2013, for capital expenditures, and for general corporate purposes. Subject to the satisfaction of customary conditions precedent, the notes will be funded on or about December 5, 2013, as a result of the delayed draw feature. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
Commitments & Contingencies | |
The Company is party to various legal proceedings, audits, and reviews by taxing authorities and other government agencies arising in the normal course of business. In the opinion of management, there are no legal proceedings or other regulatory reviews or audits pending against the Company that are likely to have a material adverse effect on its financial position, results of operations or cash flows. |
Rate_Regulatory_Matters
Rate & Regulatory Matters | 9 Months Ended |
Sep. 30, 2013 | |
Public Utilities, General Disclosures [Abstract] | ' |
Rate and Regulatory Matters | ' |
Rate & Regulatory Matters | |
Regulatory Treatment of Investments in Natural Gas Infrastructure Replacement | |
Vectren monitors and maintains its natural gas distribution system to ensure that natural gas is delivered in a safe and efficient manner. Vectren's natural gas utilities are currently engaged in replacement programs in both Indiana and Ohio, the primary purpose of which is preventive maintenance and continual renewal and operational improvement. Laws in both Indiana and Ohio were passed that expand the ability of utilities to recover certain costs of federally mandated projects and other infrastructure improvement projects, outside of a base rate proceeding. Utilization of these recovery mechanisms is discussed below. | |
Ohio Recovery and Deferral Mechanisms | |
The PUCO order approving the Company's 2009 base rate case in the Ohio service territory authorized a distribution replacement rider (DRR). The DRR's primary purpose is recovery of investments in utility plant and related operating expenses associated with replacing bare steel and cast iron pipelines and certain other infrastructure. This rider is updated annually for qualifying capital expenditures and allows for a return to be earned on those capital expenditures based on the rate of return approved in the 2009 base rate case. In addition, deferral of depreciation and the ability to accrue debt-related post in service carrying costs is also allowed until the related capital expenditures are recovered through the DRR. The order also established a prospective bill impact evaluation on the annual deferrals, limiting the deferrals at a level which would equal a change over the prior year rate of $1.00 per residential and general service customer per month. To date, the Company has made capital investments under this rider totaling $101 million. Regulatory assets associated with post in service carrying costs and depreciation deferrals were $8.7 million and $6.5 million at September 30, 2013 and December 31, 2012, respectively. The DRR's initial five year term expires in early 2014. The Company filed a request in August 2013 to extend the term of the DRR and expand the DRR to include recovery of other infrastructure investments. In that filing, the Company detailed a five-year capital expenditure plan for calendar years 2013 through 2017 totaling $187 million related to the applicable infrastructure investments. As is typical, other parties have intervened in the case and discovery is ongoing. The Company expects an order in early 2014. | |
In June 2011, Ohio House Bill 95 was signed into law. Outside of a base rate proceeding, this legislation permits a natural gas company to apply for recovery of much of its capital expenditure program. The legislation also allows for the deferral of costs, such as depreciation, property taxes, and debt-related post in service carrying costs. On December 12, 2012, the PUCO issued an order approving the Company's initial application using this law, reflecting its $23.5 million capital expenditure program covering the fifteen month period ending December 31, 2012. Such capital expenditures include infrastructure expansion and improvements not covered by the DRR as well as expenditures necessary to comply with PUCO rules, regulations, orders, and system expansion to some new customers. The order also established a prospective bill impact evaluation on the cumulative deferrals, limiting the total deferrals at a level which would equal $1.50 per residential and general service customer per month. On August 29, 2013, the Company filed a request for the accounting authority described above on its capital expenditure program for the 2013 calendar year totaling $61.5 million. Of this amount, $34.8 million relates to expenditures that could be considered recoverable under the DRR discussed above. If not ultimately included in the DRR, the Company would anticipate deferral for future recovery through a House Bill 95 mechanism. In addition, the Company requested that subsequent requests for accounting authority will be filed annually in April. The Company expects an order before the end of 2013. | |
Indiana Recovery and Deferral Mechanisms | |
The Company's Indiana natural gas utilities received orders in 2008 and 2007 associated with the most recent base rate cases. These orders authorized the deferral of financial impacts associated with bare steel and cast iron replacement activities. The orders provide for the deferral of depreciation and post in service carrying costs on qualifying projects totaling $20 million annually at Vectren North and $3 million annually at Vectren South. The debt-related post in service carrying costs are recognized in the Condensed Consolidated Statements of Income currently. Such deferral is limited by individual qualifying project to three years after being placed into service at Vectren South and four years after being placed into service at Vectren North. | |
In April 2011, Senate Bill 251 was signed into Indiana law. The law provides a framework to recover 80 percent of federally mandated costs through a periodic rate adjustment mechanism outside of a general rate case. Such costs include a return on the federally mandated capital investment, along with recovery of depreciation and other operating costs associated with these mandates. The remaining 20 percent of those costs are to be deferred for future recovery in the utility's next general rate case. | |
In April 2013, Senate Bill 560 was signed into law. This legislation supplements Senate Bill 251 described above, which addressed federally-mandated investment, and provides for cost recovery outside of a base rate proceeding for projects that either improve electric and gas system reliability and safety or are economic development projects that provide rural areas with access to gas service. Provisions of the legislation require that, among other things, requests for recovery include a seven-year project plan. Once the plan is approved by the IURC, 80 percent of such costs are eligible for recovery using a periodic rate adjustment mechanism. Recoverable costs include a return on and of the investment, as well as property taxes and operating expenses. The remaining 20 percent of project costs are to be deferred for future recovery in the Company's next general rate case. The adjustment mechanism is capped at an annual increase in retail revenues of no more than two percent. | |
Pipeline Safety Law | |
On January 3, 2012, the Pipeline Safety, Regulatory Certainty and Job Creation Act of 2011 (Pipeline Safety Law) was signed into law. The Pipeline Safety Law, which reauthorizes federal pipeline safety programs through fiscal year 2015, provides for enhanced safety, reliability, and environmental protection in the transportation of energy products by pipeline. The law increases federal enforcement authority; grants the federal government expanded authority over pipeline safety; provides for new safety regulations and standards; and authorizes or requires the completion of several pipeline safety-related studies. The DOT is required to promulgate a number of new regulatory requirements over the next two years. Those regulations may eventually lead to further regulatory or statutory requirements. | |
The Company continues to study the impact of the Pipeline Safety Law and potential new regulations associated with its implementation. It is expected that the law will result in further investment in pipeline inspections, and where necessary, additional investments in pipeline infrastructure and, therefore, result in both increased levels of operating expenses and capital expenditures associated with the Company's natural gas distribution businesses. | |
Requests for Recovery Under Regulatory Mechanisms | |
The Company plans to utilize the mechanisms described above to recover certain costs of federally mandated projects and other capital investment projects outside of base rate proceedings. As discussed in detail above, the Company filed in Ohio in August 2013 a request seeking authority to extend the term of the DRR and expand the DRR to include for recovery of other infrastructure investments. The Company also expects to seek authority to recover appropriate costs related to its gas infrastructure replacement and improvement programs in Indiana, including costs associated with the Pipeline Safety Law, using the mechanisms allowed under Senate Bill 251 and Senate Bill 560. Such requests are expected to be made in the near term. The Company has communicated its intent to make such filings with all appropriate parties. When filed, it is expected that the combined Indiana infrastructure replacement and improvement plan required by the legislation will reflect estimated construction costs of $800 to $900 million over the seven year period beginning in 2014 and $5 to $10 million in annual operating costs associated with compliance with new pipeline safety regulations. These recovery mechanisms are not yet in place in Indiana but are authorized under the newly enacted legislation described previously. While the regulatory framework is therefore not yet fully developed, it is expected that these costs will be recoverable under the mechanisms provided for in Senate Bills 251 and 560. | |
Vectren North Pipeline Safety Investigation | |
On April 11, 2012, the IURC's pipeline safety division filed a complaint against Vectren North alleging several violations of safety regulations pertaining to damage that occurred at a residence in Vectren North's service territory during a pipeline replacement project. The Company negotiated a settlement with the IURC's pipeline safety division, agreeing to a fine and several modifications to the Company's operating policies. The amount of the fine was not material to the Company's financial results. The IURC approved the settlement but modified certain terms of the settlement and added a requirement that Company employees conduct inspections of pipeline excavations. The Company sought and was granted a request for rehearing on the sole issue related to the requirement to use Company employees to inspect excavations. A settlement in the case has now been reached with the Pipeline Safety Division of the IURC and a hearing on the settlement will be conducted in November 2013. |
Environmental_Matters
Environmental Matters | 9 Months Ended |
Sep. 30, 2013 | |
Environmental Matters Disclosure [Abstract] | ' |
Environmental Matters | ' |
Environmental Matters | |
Indiana Senate Bill 251 is also applicable to federal environmental mandates impacting Vectren South's electric operations. The Company is currently evaluating the impact Senate Bill 251 may have on its operations, including applicability of the stricter regulations the EPA is currently considering involving air quality, fly ash disposal, cooling tower intake facilities, waste water discharges, and greenhouse gases. These issues are further discussed below. | |
Air Quality | |
Clean Air Interstate Rule / Cross-State Air Pollution Rule | |
In July 2011, the EPA finalized the Cross-State Air Pollution Rule (CSAPR). CSAPR was the EPA’s response to the US Court of Appeals for the District of Columbia’s (the Court) remand of the Clean Air Interstate Rule (CAIR). CAIR was originally established in 2005 as an allowance cap and trade program that required reductions from coal-burning power plants for NOx emissions beginning January 1, 2009 and SO2 emissions beginning January 1, 2010, with a second phase of reductions in 2015. In an effort to address the Court’s finding that CAIR did not adequately ensure attainment of pollutants in certain downwind states due to unlimited trading of SO2 and NOx allowances, CSAPR reduced the ability of facilities to meet emission reduction targets through allowance trading. Like CAIR, CSAPR set individual state caps for SO2 and NOx emissions. However, unlike CAIR in which states allocated allowances to generating units through state implementation plans, CSAPR allowances were allocated to individual units directly through the federal rule. CSAPR reductions were to be achieved with initial step reductions beginning January 1, 2012, and final compliance to be achieved in 2014. Multiple administrative and judicial challenges were filed. On December 30, 2011, the Court granted a stay of CSAPR and left CAIR in place pending its review. On August 21, 2012, the Court vacated CSAPR and directed the EPA to continue to administer CAIR. In October 2012, the EPA filed its request for a hearing before the full federal appeals court that struck down the CSAPR. EPA's request for rehearing was denied by the Court on January 24, 2013. In March 2013, the EPA filed a petition for review with the US Supreme Court, and in June 2013 the Supreme Court agreed to review the lower court decision. A decision by the Supreme Court is expected in 2014. The Company remains in full compliance with CAIR (see additional information below "Conclusions Regarding Environmental Regulations"). | |
Mercury and Air Toxics (MATS) Rule | |
On December 21, 2011, the EPA finalized the Utility MATS Rule. The MATS Rule sets emission limits for hazardous air pollutants for existing and new coal-fired power plants and identifies the following broad categories of hazardous air pollutants: mercury, non-mercury hazardous air pollutants (primarily arsenic, chromium, cobalt, and selenium), and acid gases (hydrogen cyanide, hydrogen chloride, and hydrogen fluoride). The rule imposes mercury emission limits for two sub-categories of coal, and proposed surrogate limits for non-mercury and acid gas hazardous air pollutants. The EPA did not grant blanket compliance extensions, but asserted that states have broad authority to grant one year extensions for individual electric generating units where potential reliability impacts have been demonstrated. Reductions are to be achieved within three years of publication of the final rule in the Federal register (April 2015). Initiatives to suspend CSAPR’s implementation by Congress also apply to the implementation of the MATS rule. Multiple judicial challenges were filed and briefing is proceeding. The EPA agreed to reconsider MATS requirements for new construction. Such requirements are more stringent than those for existing plants. Utilities planning new coal-fired generation had argued standards outlined in the MATS could not be attained even using the best available control technology. The EPA issued its revised emission limits for new construction in March 2013. | |
Notice of Violation for A.B. Brown Power Plant | |
The Company received a notice of violation (NOV) from the EPA in November 2011 pertaining to its A.B. Brown power plant. The NOV asserts that when the power plant was equipped with SCRs the correct permits were not obtained or the best available control technology to control incidental sulfuric acid mist was not installed. | |
Information Request | |
SIGECO and Alcoa Generating Corporation (AGC), a subsidiary of ALCOA, own a 300 MW Unit 4 at the Warrick Power Plant as tenants in common. AGC and SIGECO also share equally in the cost of operation and output of the unit. In January 2013, AGC received an information request from the EPA under Section 114 of the Clean Air Act for historical operational information on the Warrick Power Plant. In April 2013, ALCOA filed a timely response to the information request. | |
Water | |
Section 316(b) of the Clean Water Act requires that generating facilities use the “best technology available” to minimize adverse environmental impacts in a body of water. More specifically, Section 316(b) is concerned with impingement and entrainment of aquatic species in once-through cooling water intake structures used at electric generating facilities. In April 2009, the U.S. Supreme Court affirmed that the EPA could, but was not required to, consider costs and benefits in making the evaluation as to the best technology available for existing generating facilities. The regulation was remanded back to the EPA for further consideration. In March 2011, the EPA released its proposed Section 316(b) regulations. The EPA did not mandate the retrofitting of cooling towers in the proposed regulation, but if finalized, the regulation will leave it to each state to determine whether cooling towers should be required on a case by case basis. A final rule is expected in 2013. Depending on the final rule and on the Company’s facts and circumstances, capital investments could approximate $40 million if new infrastructure, such as new cooling water towers, is required. Costs for compliance with these final regulations should qualify as federally mandated regulatory requirements and be recovered under Indiana Senate Bill 251 referenced above. | |
Under the Clean Water Act, EPA sets technology-based guidelines for water discharges from new and existing facilities. EPA is currently in the process of revising the existing steam electric effluent limitation guidelines that set the technology-based water discharge limits for the electric power industry. EPA is focusing its rulemaking on wastewater generated primarily by pollution control equipment necessitated by the comprehensive air regulations. The EPA released proposed rules on April 19, 2013 and the Company is reviewing the proposal. At this time, it is not possible to estimate what potential costs may be required to meet these new water discharge limits, however costs for compliance with these regulations should qualify as federally mandated regulatory requirements and be recoverable under Senate Bill 251 referenced above. | |
Conclusions Regarding Environmental Regulations | |
To comply with Indiana’s implementation plan of the Clean Air Act, and other federal air quality standards, the Company obtained authority from the IURC to invest in clean coal technology. Using this authorization, the Company invested approximately $411 million starting in 2001 with the last equipment being placed into service on January 1, 2010. The pollution control equipment included Selective Catalytic Reduction (SCR) systems, fabric filters, and an SO2 scrubber at its generating facility that is jointly owned with AGC (the Company’s portion is 150 MW). SCR technology is the most effective method of reducing NOx emissions where high removal efficiencies are required and fabric filters control particulate matter emissions. The unamortized portion of the $411 million clean coal technology investment was included in rate base for purposes of determining SIGECO’s new electric base rates approved in the latest base rate order obtained April 27, 2011. SIGECO’s coal-fired generating fleet is 100 percent scrubbed for SO2 and 90 percent controlled for NOx. | |
Utilization of the Company’s NOx and SO2 allowances can be impacted as regulations are revised and implemented. Most of these allowances were granted to the Company at zero cost; therefore, any reduction in carrying value that could result from future changes in regulations would be immaterial. | |
The Company continues to review the sufficiency of its existing pollution control equipment in relation to the requirements described in the MATS Rule, the recent renewal of water discharge permits, and the NOV discussed above. Due to the correlation among the various requirements set forth, it is possible some operational modifications to the control equipment will be required. Additional capital investments, operating expenses, and possibly the purchase of emission allowances may be required. The Company is continuing to evaluate potential technologies to address compliance and what the additional costs may be associated with these efforts. Currently, it is expected that the capital costs could be between $80 million and $110 million. Compliance is required by government regulation, and the Company believes that such additional costs, if incurred, should be recoverable under Senate Bill 251 referenced above. The Company is evaluating current and/or deferral of regulatory recovery that will moderate the impact on customer rates in the near term. | |
Coal Ash Waste Disposal & Ash Ponds | |
In June 2010, the EPA issued proposed regulations affecting the management and disposal of coal combustion products, such as ash generated by the Company’s coal-fired power plants. The proposed rules more stringently regulate these byproducts and would likely increase the cost of operating or expanding existing ash ponds and the development of new ash ponds. The alternatives include regulating coal combustion by-products that are not being beneficially reused as hazardous waste. The EPA did not offer a preferred alternative, but took public comment on multiple alternative regulations. Rules have not been finalized given oversight hearings, congressional interest, and other factors. | |
At this time, the majority of the Company’s ash is being beneficially reused. However, the alternatives proposed would require modification to, or closure of, existing ash ponds. The Company estimates capital expenditures to comply could be as much as $30 million, and such expenditures could exceed $100 million if the most stringent of the alternatives is selected. Annual compliance costs could increase slightly or be impacted by as much as $5 million. Costs for compliance with these regulations should qualify as federally mandated regulatory requirements and be recoverable under Senate Bill 251 referenced above. | |
Climate Change | |
In April 2007, the US Supreme Court determined that greenhouse gases (GHG's) meet the definition of "air pollutant" under the Clean Air Act and ordered the EPA to determine whether GHG emissions from motor vehicles cause or contribute to air pollution that may reasonably be anticipated to endanger public health or welfare. In April 2009, the EPA published its proposed endangerment finding for public comment. The proposed endangerment finding concludes that carbon emissions from mobile sources pose an endangerment to public health and the environment. The endangerment finding was finalized in December 2009, and is the first step toward the EPA regulating carbon emissions through the existing Clean Air Act in the absence of specific carbon legislation from Congress. | |
The EPA has promulgated two GHG regulations that apply to the Company’s generating facilities. In 2009, the EPA finalized a mandatory GHG emissions registry which requires the reporting of emissions. The EPA has also finalized a revision to the Prevention of Significant Deterioration (PSD) and Title V permitting rules which would require facilities that emit 75,000 tons or more of GHG's a year to obtain a PSD permit for new construction or a significant modification of an existing facility. The EPA's PSD and Title V permitting rules for GHG's were upheld by the US Court of Appeals for the District of Columbia. In 2012, the EPA proposed New Source Performance Standards (NSPS) for GHG's for new electric generating facilities under the Clean Air Act Section 111(b). On October 15, the US Supreme Court agreed to review a focused appeal on the issue of whether the GHG rule applicable to mobile sources triggered PSD permitting for all stationary sources such as Vectren's power plants. A decision is not expected until 2014. | |
In July 2013, the President announced a Climate Action Plan, which calls on the EPA to re-propose and finalize the new source rule expeditiously, and by June 2014 propose, and by June 2015 finalize, NSPS standards for GHG's for existing electric generating units which would apply to Vectren's power plants. States must have their implementation plans to the EPA no later than June 2016. The President's Climate Action Plan did not provide any detail as to actual emission targets or compliance requirements. The Company anticipates that these initial standards will focus on power plant efficiency and other coal fleet carbon intensity reduction measures. The Company believes that such additional costs, if necessary, should be recoverable under Indiana Senate Bill 251 referenced above. | |
Numerous competing federal legislative proposals have also been introduced in recent years that involve carbon, energy efficiency, and renewable energy. Comprehensive energy legislation at the federal level continues to be debated, but there has been little progress to date. The progression of regional initiatives throughout the United States has also slowed. | |
Impact of Legislative Actions & Other Initiatives is Unknown | |
If regulations are enacted by the EPA or other agencies or if legislation requiring reductions in CO2 and other GHG's or legislation mandating a renewable energy portfolio standard is adopted, such regulation could substantially affect both the costs and operating characteristics of the Company’s fossil fuel generating plants and natural gas distribution businesses. At this time and in the absence of final legislation or rulemaking, compliance costs and other effects associated with reductions in GHG emissions or obtaining renewable energy sources remain uncertain. The Company has gathered preliminary estimates of the costs to control GHG emissions. A preliminary investigation demonstrated costs to comply would be significant, first with regard to operating expenses and later for capital expenditures as technology becomes available to control GHG emissions. However, these compliance cost estimates are based on highly uncertain assumptions, including allowance prices if a cap and trade approach were employed, and energy efficiency targets. Costs to purchase allowances that cap GHG emissions or expenditures made to control emissions should be considered a federally mandated cost of providing electricity, and as such, the Company believes such costs and expenditures should be recoverable from customers through Senate Bill 251. | |
Senate Bill 251 also established a voluntary clean energy portfolio standard that provides incentives to Indiana electricity suppliers participating in the program. The goal of the program is that by 2025, at least 10 percent of the total electricity obtained by the supplier to meet the energy needs of Indiana retail customers will be provided by clean energy sources, as defined. In advance of a federal portfolio standard and Senate Bill 251, SIGECO received regulatory approval to purchase a 3 MW landfill gas generation facility from a related entity. The facility was purchased in 2009 and is directly connected to the Company's distribution system. In 2008 and 2009, the Company executed long-term purchase power commitments for a total of 80 MW of wind energy. The Company currently has approximately 5 percent of its electricity being provided by clean energy sources due to the long-term wind contracts and landfill gas investment. | |
Manufactured Gas Plants | |
In the past, the Company operated facilities to manufacture natural gas. Given the availability of natural gas transported by pipelines, these facilities have not been operated for many years. Under current environmental laws and regulations, those that owned or operated these facilities may now be required to take remedial action if certain contaminants are found above the regulatory thresholds. | |
In the Indiana Gas service territory, the existence, location, and certain general characteristics of 26 gas manufacturing and storage sites have been identified for which the Company may have some remedial responsibility. A remedial investigation/feasibility study (RI/FS) was completed at one of the sites under an agreed order between Indiana Gas and the IDEM, and a Record of Decision was issued by the IDEM in January 2000. The remaining sites have been submitted to the IDEM's Voluntary Remediation Program (VRP). The Company has identified its involvement in five manufactured gas plant sites in SIGECO’s service territory, all of which are currently enrolled in the IDEM’s VRP. The Company is currently conducting some level of remedial activities, including groundwater monitoring at certain sites. | |
The Company has accrued the estimated costs for further investigation, remediation, groundwater monitoring, and related costs for the sites. While the total costs that may be incurred in connection with addressing these sites cannot be determined at this time, the Company has recorded cumulative costs that it has incurred or reasonably expects to incur totaling approximately $42.4 million ($23.2 million at Indiana Gas and $19.2 million at SIGECO). The estimated accrued costs are limited to the Company’s share of the remediation efforts and are therefore net of exposures of other potentially responsible parties (PRP). | |
With respect to insurance coverage, Indiana Gas has received approximately $20.8 million from all known insurance carriers under insurance policies in effect when these plants were in operation. Likewise, SIGECO has settlement agreements with all known insurance carriers and has received to date approximately $14.2 million of the expected $15.7 million in insurance recoveries. | |
The costs the Company expects to incur are estimated by management using assumptions based on actual costs incurred, the timing of expected future payments, and inflation factors, among others. While the Company’s utilities have recorded all costs which they presently expect to incur in connection with activities at these sites, it is possible that future events may require remedial activities which are not presently foreseen and those costs may not be subject to PRP or insurance recovery. As of September 30, 2013 and December 31, 2012, approximately $5.1 million and $4.6 million, respectively, of accrued, but not yet spent, costs are included in Other Liabilities related to the Indiana Gas and SIGECO sites. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
Fair Value Measurements | ||||||||||||||||
The carrying values and estimated fair values using primarily Level 2 assumptions of the Company's other financial instruments follow: | ||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||
(In millions) | Carrying | Est. Fair | Carrying | Est. Fair | ||||||||||||
Amount | Value | Amount | Value | |||||||||||||
Long-term debt | $ | 1,107.00 | $ | 1,210.40 | $ | 1,208.40 | $ | 1,372.60 | ||||||||
Short-term borrowings | 176.1 | 176.1 | 116.7 | 116.7 | ||||||||||||
Cash & cash equivalents | 6.2 | 6.2 | 13.3 | 13.3 | ||||||||||||
For the balance sheet dates presented in these financial statements, the Company had no material assets or liabilities marked to fair value. | ||||||||||||||||
Certain methods and assumptions must be used to estimate the fair value of financial instruments. The fair value of the Company's long-term debt was estimated based on the quoted market prices for the same or similar issues or on the current rates offered to the Company for instruments with similar characteristics. Because of the maturity dates and variable interest rates of short-term borrowings and cash & cash equivalents, those carrying amounts approximate fair value. Because of the inherent difficulty of estimating interest rate and other market risks, the methods used to estimate fair value may not always be indicative of actual realizable value, and different methodologies could produce different fair value estimates at the reporting date. | ||||||||||||||||
Under current regulatory treatment, call premiums on reacquisition of long-term debt are generally recovered in customer rates over the life of the refunding issue or over a 15-year period. Accordingly, any reacquisition of this debt would not be expected to have a material effect on the Company's results of operations. |
Impact_of_Recently_Issued_Acco
Impact of Recently Issued Accounting Principles | 9 Months Ended |
Sep. 30, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
Impact of Recently Issued Accounting Principles and Other Authoritative Guidance | ' |
Impact of Recently Issued Accounting Principles and Other Authoritative Guidance | |
Offsetting Assets and Liabilities | |
In January 2013, the FASB issued new accounting guidance on disclosures of offsetting assets and liabilities. This guidance amends prior requirements to add clarification to the scope of the offsetting disclosures. The amendment clarifies that the scope applies to derivative instruments accounted for in accordance with reporting topics on derivatives and hedging, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are either offset in accordance with US GAAP or subject to an enforceable master netting arrangement or similar agreement. This guidance is effective for fiscal years beginning on or after January 1, 2013 and interim periods within annual periods. The Company adopted this guidance as of January 1, 2013. The adoption of this guidance did not have a material impact on the Company's financial statements. | |
Accumulated Other Comprehensive Income (AOCI) | |
In February 2013, the FASB issued new accounting guidance on the reporting of reclassifications from AOCI. The guidance requires an entity to report the effect of significant reclassification from AOCI on the respective line items in net income if the amount being reclassified is required under US GAAP to be reclassified in its entirety to net income. For other amounts that are not required under US GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference to other disclosures required that provide additional details about these amounts. The new guidance is effective for fiscal years, and interim periods within annual periods, beginning after December 15, 2012. As this guidance provides only disclosure requirements, the adoption of this standard did not impact the company's results of operations, cash flows or financial position. | |
Unrecognized Tax Benefit Presentation | |
In July 2013, the FASB issued new accounting guidance on presenting an unrecognized tax benefit when net operating loss carryforwards exist. The new standard was issued in an effort to eliminate diversity in practice resulting from a lack of guidance on this topic in the current US GAAP. The update provides that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except under certain circumstances outlined in the update. The amendments in the update are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013, with early adoption permitted. This update is consistent with how the Company currently presents unrecognized tax benefits, therefore, adoption of this guidance resulted in no material impact on the Company's financial statements. | |
Final Federal Income Tax Regulations | |
In September 2013, the Internal Revenue Service (IRS) released final tangible property regulations regarding the deduction and capitalization of expenditures related to tangible property. The final regulations are generally effective for tax years beginning on or after January 1, 2014, but may be adopted for 2013 tax years. The Company intends to adopt the guidance for its 2014 tax year. The Company continues to evaluate the impact adoption of the regulations will have on its consolidated financial statements. As of this date, the Company does not expect the adoption of the regulations to have a material impact on its consolidated financial statements. |
Segment_Reporting
Segment Reporting | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Segment Reporting | ' | |||||||||||||||
Segment Reporting | ||||||||||||||||
The Company’s operations consist of regulated operations and other operations that provide information technology and other support services to those regulated operations. The Company segregates its regulated operations between Gas Utility Services and Electric Utility Services. Gas Utility Services provides natural gas distribution and transportation services to nearly two-thirds of Indiana and to west central Ohio. Electric Utility Services provides electric distribution services to southwestern Indiana, and includes the Company’s power generating and wholesale power operations. Regulated operations supply natural gas and/or electricity to over one million customers. In total, the Company is comprised of three operating segments: Gas Utility Services, Electric Utility Services, and Other operations. Net income is the measure of profitability used by management for all operations. | ||||||||||||||||
Information related to the Company’s business segments is summarized below: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Revenues | ||||||||||||||||
Gas Utility Services | $ | 101.9 | $ | 100.2 | $ | 555.8 | $ | 508.5 | ||||||||
Electric Utility Services | 165.8 | 167.9 | 470 | 456.6 | ||||||||||||
Other Operations | 9.5 | 10.2 | 28.5 | 30.1 | ||||||||||||
Eliminations | (9.5 | ) | (10.6 | ) | (28.3 | ) | (29.6 | ) | ||||||||
Total revenues | $ | 267.7 | $ | 267.7 | $ | 1,026.00 | $ | 965.6 | ||||||||
Profitability Measure - Net Income (Loss) | ||||||||||||||||
Gas Utility Services | $ | (3.8 | ) | $ | (2.7 | ) | $ | 37.2 | $ | 36.1 | ||||||
Electric Utility Services | 26.6 | 26.6 | 60.1 | 59.4 | ||||||||||||
Other Operations | 2.5 | 2.5 | 7.3 | 7 | ||||||||||||
Total net income | $ | 25.3 | $ | 26.4 | $ | 104.6 | $ | 102.5 | ||||||||
Subsidiary_Guarantor_and_Conso1
Subsidiary Guarantor and Consolidating Information Subsidiary Guarantor and Consolidating Information(Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Condensed Financial Information of Parent Company and Subsidiaries [Abstract] | ' | |||||||||||||||
Condensed consolidating balance sheets [Table Text Block] | ' | |||||||||||||||
Condensed Consolidating Balance Sheet as of September 30, 2013 (in millions): | ||||||||||||||||
ASSETS | Subsidiary | Parent | Eliminations & | |||||||||||||
Guarantors | Company | Reclassifications | Consolidated | |||||||||||||
Current Assets | ||||||||||||||||
Cash & cash equivalents | $ | 5.4 | $ | 0.8 | $ | — | $ | 6.2 | ||||||||
Accounts receivable - less reserves | 69.9 | — | — | 69.9 | ||||||||||||
Intercompany receivables | — | 84.4 | (84.4 | ) | — | |||||||||||
Accrued unbilled revenues | 33.1 | — | — | 33.1 | ||||||||||||
Inventories | 98.4 | 0.1 | — | 98.5 | ||||||||||||
Recoverable fuel & natural gas costs | 19.5 | — | — | 19.5 | ||||||||||||
Prepayments & other current assets | 49.6 | 30.3 | (25.8 | ) | 54.1 | |||||||||||
Total current assets | 275.9 | 115.6 | (110.2 | ) | 281.3 | |||||||||||
Utility Plant | ||||||||||||||||
Original cost | 5,326.90 | — | — | 5,326.90 | ||||||||||||
Less: accumulated depreciation & amortization | 2,136.30 | — | — | 2,136.30 | ||||||||||||
Net utility plant | 3,190.60 | — | — | 3,190.60 | ||||||||||||
Investments in consolidated subsidiaries | — | 1,364.50 | (1,364.5 | ) | — | |||||||||||
Notes receivable from consolidated subsidiaries | — | 696.4 | (696.4 | ) | — | |||||||||||
Investments in unconsolidated affiliates | 0.2 | — | — | 0.2 | ||||||||||||
Other investments | 28.1 | 4.5 | — | 32.6 | ||||||||||||
Nonutility property - net | 2.3 | 141.2 | — | 143.5 | ||||||||||||
Goodwill - net | 205 | — | — | 205 | ||||||||||||
Regulatory assets | 113.2 | 22.2 | — | 135.4 | ||||||||||||
Other assets | 33.8 | 1.1 | (7.5 | ) | 27.4 | |||||||||||
TOTAL ASSETS | $ | 3,849.10 | $ | 2,345.50 | $ | (2,178.6 | ) | $ | 4,016.00 | |||||||
LIABILITIES & SHAREHOLDER'S EQUITY | Subsidiary | Parent | Eliminations & | |||||||||||||
Guarantors | Company | Reclassifications | Consolidated | |||||||||||||
Current Liabilities | ||||||||||||||||
Accounts payable | $ | 91.5 | $ | 4.7 | $ | — | $ | 96.2 | ||||||||
Intercompany payables | 11.3 | — | (11.3 | ) | — | |||||||||||
Payables to other Vectren companies | 23.1 | — | — | 23.1 | ||||||||||||
Accrued liabilities | 113.7 | 15.3 | (25.8 | ) | 103.2 | |||||||||||
Short-term borrowings | — | 176.1 | — | 176.1 | ||||||||||||
Intercompany short-term borrowings | 73.1 | — | (73.1 | ) | — | |||||||||||
Total current liabilities | 312.7 | 196.1 | (110.2 | ) | 398.6 | |||||||||||
Long-Term Debt | ||||||||||||||||
Long-term debt | 382.4 | 724.6 | — | 1,107.00 | ||||||||||||
Long-term debt due to VUHI | 696.4 | — | (696.4 | ) | — | |||||||||||
Total long-term debt - net | 1,078.80 | 724.6 | (696.4 | ) | 1,107.00 | |||||||||||
Deferred Income Taxes & Other Liabilities | ||||||||||||||||
Deferred income taxes | 626.9 | 0.3 | — | 627.2 | ||||||||||||
Regulatory liabilities | 380.3 | 1.6 | — | 381.9 | ||||||||||||
Deferred credits & other liabilities | 85.9 | 2.6 | (7.5 | ) | 81 | |||||||||||
Total deferred credits & other liabilities | 1,093.10 | 4.5 | (7.5 | ) | 1,090.10 | |||||||||||
Common Shareholder's Equity | ||||||||||||||||
Common stock (no par value) | 799.3 | 786.1 | (799.3 | ) | 786.1 | |||||||||||
Retained earnings | 565.2 | 634.2 | (565.2 | ) | 634.2 | |||||||||||
Total common shareholder's equity | 1,364.50 | 1,420.30 | (1,364.5 | ) | 1,420.30 | |||||||||||
TOTAL LIABILITIES & SHAREHOLDER'S EQUITY | $ | 3,849.10 | $ | 2,345.50 | $ | (2,178.6 | ) | $ | 4,016.00 | |||||||
Condensed Consolidating Balance Sheet as of December 31, 2012 (in millions): | ||||||||||||||||
ASSETS | Subsidiary | Parent | Eliminations & | |||||||||||||
Guarantors | Company | Reclassifications | Consolidated | |||||||||||||
Current Assets | ||||||||||||||||
Cash & cash equivalents | $ | 12.5 | $ | 0.8 | $ | — | $ | 13.3 | ||||||||
Accounts receivable - less reserves | 81.8 | — | — | 81.8 | ||||||||||||
Intercompany receivables | — | 145.1 | (145.1 | ) | — | |||||||||||
Accrued unbilled revenues | 93.6 | — | — | 93.6 | ||||||||||||
Inventories | 114 | — | — | 114 | ||||||||||||
Recoverable fuel & natural gas costs | 25.3 | — | — | 25.3 | ||||||||||||
Prepayments & other current assets | 52 | 5.8 | (5.5 | ) | 52.3 | |||||||||||
Total current assets | 379.2 | 151.7 | (150.6 | ) | 380.3 | |||||||||||
Utility Plant | ||||||||||||||||
Original cost | 5,176.60 | 0.2 | — | 5,176.80 | ||||||||||||
Less: accumulated depreciation & amortization | 2,057.20 | — | — | 2,057.20 | ||||||||||||
Net utility plant | 3,119.40 | 0.2 | — | 3,119.60 | ||||||||||||
Investments in consolidated subsidiaries | — | 1,329.20 | (1,329.2 | ) | — | |||||||||||
Notes receivable from consolidated subsidiaries | — | 679.7 | (679.7 | ) | — | |||||||||||
Investments in unconsolidated affiliates | 0.2 | — | — | 0.2 | ||||||||||||
Other investments | 27.8 | 4.8 | — | 32.6 | ||||||||||||
Nonutility property - net | 2.6 | 144.3 | — | 146.9 | ||||||||||||
Goodwill - net | 205 | — | — | 205 | ||||||||||||
Regulatory assets | 104.1 | 22.4 | — | 126.5 | ||||||||||||
Other assets | 40.4 | 1.7 | (6.4 | ) | 35.7 | |||||||||||
TOTAL ASSETS | $ | 3,878.70 | $ | 2,334.00 | $ | (2,165.9 | ) | $ | 4,046.80 | |||||||
LIABILITIES & SHAREHOLDER'S EQUITY | Subsidiary | Parent | Eliminations & | |||||||||||||
Guarantors | Company | Reclassifications | Consolidated | |||||||||||||
Current Liabilities | ||||||||||||||||
Accounts payable | $ | 114.8 | $ | 6.2 | $ | — | $ | 121 | ||||||||
Accounts payable to affiliated companies | 29.7 | — | — | 29.7 | ||||||||||||
Intercompany payables | 10.6 | — | (10.6 | ) | — | |||||||||||
Payables to other Vectren companies | 25.1 | — | — | 25.1 | ||||||||||||
Accrued liabilities | 131.3 | 13.5 | (5.5 | ) | 139.3 | |||||||||||
Short-term borrowings | — | 116.7 | — | 116.7 | ||||||||||||
Intercompany short-term borrowings | 134.5 | — | (134.5 | ) | — | |||||||||||
Current maturities of long-term debt | 5 | 100 | — | 105 | ||||||||||||
Total current liabilities | 451 | 236.4 | (150.6 | ) | 536.8 | |||||||||||
Long-Term Debt | ||||||||||||||||
Long-term debt - net of current maturities | 382.3 | 721.1 | — | 1,103.40 | ||||||||||||
Long-term debt due to VUHI | 679.7 | — | (679.7 | ) | — | |||||||||||
Total long-term debt - net | 1,062.00 | 721.1 | (679.7 | ) | 1,103.40 | |||||||||||
Deferred Income Taxes & Other Liabilities | ||||||||||||||||
Deferred income taxes | 595.4 | (16.9 | ) | — | 578.5 | |||||||||||
Regulatory liabilities | 362.2 | 2 | — | 364.2 | ||||||||||||
Deferred credits & other liabilities | 78.9 | 1.4 | (6.4 | ) | 73.9 | |||||||||||
Total deferred credits & other liabilities | 1,036.50 | (13.5 | ) | (6.4 | ) | 1,016.60 | ||||||||||
Common Shareholder's Equity | ||||||||||||||||
Common stock (no par value) | 787.8 | 781.6 | (787.8 | ) | 781.6 | |||||||||||
Retained earnings | 541.4 | 608.4 | (541.4 | ) | 608.4 | |||||||||||
Total common shareholder's equity | 1,329.20 | 1,390.00 | (1,329.2 | ) | 1,390.00 | |||||||||||
TOTAL LIABILITIES & SHAREHOLDER'S EQUITY | $ | 3,878.70 | $ | 2,334.00 | $ | (2,165.9 | ) | $ | 4,046.80 | |||||||
Condensed consolidating statements fo income [Table Text Block] | ' | |||||||||||||||
Subsidiary | Parent | Eliminations & | Consolidated | |||||||||||||
Guarantors | Company | Reclassifications | ||||||||||||||
OPERATING REVENUES | ||||||||||||||||
Gas utility | $ | 101.9 | $ | — | $ | — | $ | 101.9 | ||||||||
Electric utility | 165.8 | — | — | 165.8 | ||||||||||||
Other | — | 9.4 | (9.4 | ) | — | |||||||||||
Total operating revenues | 267.7 | 9.4 | (9.4 | ) | 267.7 | |||||||||||
OPERATING EXPENSES | ||||||||||||||||
Cost of gas sold | 27.5 | — | — | 27.5 | ||||||||||||
Cost of fuel & purchased power | 50.4 | — | — | 50.4 | ||||||||||||
Other operating | 83.1 | — | (9.1 | ) | 74 | |||||||||||
Depreciation & amortization | 44.1 | 5.4 | 0.2 | 49.7 | ||||||||||||
Taxes other than income taxes | 11.2 | 0.4 | — | 11.6 | ||||||||||||
Total operating expenses | 216.3 | 5.8 | (8.9 | ) | 213.2 | |||||||||||
OPERATING INCOME | 51.4 | 3.6 | (0.5 | ) | 54.5 | |||||||||||
Other income - net | 1.2 | 9.8 | (9.0 | ) | 2 | |||||||||||
Interest expense | 14.7 | 10.4 | (9.5 | ) | 15.6 | |||||||||||
INCOME BEFORE INCOME TAXES | 37.9 | 3 | — | 40.9 | ||||||||||||
Income taxes | 15 | 0.6 | — | 15.6 | ||||||||||||
Equity in earnings of consolidated companies, net of tax | — | 22.9 | (22.9 | ) | — | |||||||||||
NET INCOME | $ | 22.9 | $ | 25.3 | $ | (22.9 | ) | $ | 25.3 | |||||||
Condensed Consolidating Statement of Income for the three months ended September 30, 2012 (in millions): | ||||||||||||||||
Subsidiary | Parent | Eliminations & | Consolidated | |||||||||||||
Guarantors | Company | Reclassifications | ||||||||||||||
OPERATING REVENUES | ||||||||||||||||
Gas utility | $ | 100.2 | $ | — | $ | — | $ | 100.2 | ||||||||
Electric utility | 167.9 | — | — | 167.9 | ||||||||||||
Other | — | 10.2 | (10.6 | ) | (0.4 | ) | ||||||||||
Total operating revenues | 268.1 | 10.2 | (10.6 | ) | 267.7 | |||||||||||
OPERATING EXPENSES | ||||||||||||||||
Cost of gas sold | 28.1 | — | — | 28.1 | ||||||||||||
Cost of fuel & purchased power | 52.9 | — | — | 52.9 | ||||||||||||
Other operating | 82.3 | — | (10.5 | ) | 71.8 | |||||||||||
Depreciation & amortization | 40.8 | 5.3 | 0.2 | 46.3 | ||||||||||||
Taxes other than income taxes | 11.1 | 0.4 | — | 11.5 | ||||||||||||
Total operating expenses | 215.2 | 5.7 | (10.3 | ) | 210.6 | |||||||||||
OPERATING INCOME | 52.9 | 4.5 | (0.3 | ) | 57.1 | |||||||||||
Other income - net | 1.8 | 10.4 | (9.9 | ) | 2.3 | |||||||||||
Interest expense | 16.2 | 11.8 | (10.2 | ) | 17.8 | |||||||||||
INCOME BEFORE INCOME TAXES | 38.5 | 3.1 | — | 41.6 | ||||||||||||
Income taxes | 14.5 | 0.7 | — | 15.2 | ||||||||||||
Equity in earnings of consolidated companies, net of tax | — | 24 | (24.0 | ) | — | |||||||||||
NET INCOME | $ | 24 | $ | 26.4 | $ | (24.0 | ) | $ | 26.4 | |||||||
Condensed Consolidating Statement of Income for the nine months ended September 30, 2013 (in millions): | ||||||||||||||||
Subsidiary | Parent | Eliminations & | Consolidated | |||||||||||||
Guarantors | Company | Reclassifications | ||||||||||||||
OPERATING REVENUES | ||||||||||||||||
Gas utility | 555.8 | — | — | 555.8 | ||||||||||||
Electric utility | 470 | — | — | 470 | ||||||||||||
Other | — | 28.4 | (28.2 | ) | 0.2 | |||||||||||
Total operating revenues | 1,025.80 | 28.4 | (28.2 | ) | 1,026.00 | |||||||||||
OPERATING EXPENSES | ||||||||||||||||
Cost of gas sold | 235.4 | — | — | 235.4 | ||||||||||||
Cost of fuel & purchased power | 154.5 | — | — | 154.5 | ||||||||||||
Other operating | 264.3 | — | (27.4 | ) | 236.9 | |||||||||||
Depreciation & amortization | 130.5 | 15.9 | 0.4 | 146.8 | ||||||||||||
Taxes other than income taxes | 40.1 | 1.2 | — | 41.3 | ||||||||||||
Total operating expenses | 824.8 | 17.1 | (27.0 | ) | 814.9 | |||||||||||
OPERATING INCOME | 201 | 11.3 | (1.2 | ) | 211.1 | |||||||||||
Other income - net | 4.9 | 28.6 | (26.7 | ) | 6.8 | |||||||||||
Interest expense | 44.7 | 32.4 | (27.9 | ) | 49.2 | |||||||||||
INCOME BEFORE INCOME TAXES | 161.2 | 7.5 | — | 168.7 | ||||||||||||
Income taxes | 63.8 | 0.3 | — | 64.1 | ||||||||||||
Equity in earnings of consolidated companies, net of tax | — | 97.4 | (97.4 | ) | — | |||||||||||
NET INCOME | 97.4 | 104.6 | (97.4 | ) | 104.6 | |||||||||||
Condensed Consolidating Statement of Income for the nine months ended September 30, 2012 (in millions): | ||||||||||||||||
Subsidiary | Parent | Eliminations & | Consolidated | |||||||||||||
Guarantors | Company | Reclassifications | ||||||||||||||
OPERATING REVENUES | ||||||||||||||||
Gas utility | 508.5 | — | — | 508.5 | ||||||||||||
Electric utility | 456.6 | — | — | 456.6 | ||||||||||||
Other | — | 30.1 | (29.6 | ) | 0.5 | |||||||||||
Total operating revenues | 965.1 | 30.1 | (29.6 | ) | 965.6 | |||||||||||
OPERATING EXPENSES | ||||||||||||||||
Cost of gas sold | 197 | — | — | 197 | ||||||||||||
Cost of fuel & purchased power | 144.6 | — | — | 144.6 | ||||||||||||
Other operating | 258.2 | 0.5 | (29.2 | ) | 229.5 | |||||||||||
Depreciation & amortization | 124.6 | 17.7 | 0.4 | 142.7 | ||||||||||||
Taxes other than income taxes | 37.8 | 1.1 | 0.1 | 39 | ||||||||||||
Total operating expenses | 762.2 | 19.3 | (28.7 | ) | 752.8 | |||||||||||
OPERATING INCOME | 202.9 | 10.8 | (0.9 | ) | 212.8 | |||||||||||
Other income - net | 4 | 30.9 | (29.7 | ) | 5.2 | |||||||||||
Interest expense | 49.1 | 35 | (30.6 | ) | 53.5 | |||||||||||
INCOME BEFORE INCOME TAXES | 157.8 | 6.7 | — | 164.5 | ||||||||||||
Income taxes | 62.2 | (0.2 | ) | — | 62 | |||||||||||
Equity in earnings of consolidated companies, net of tax | — | 95.6 | (95.6 | ) | — | |||||||||||
NET INCOME | 95.6 | 102.5 | (95.6 | ) | 102.5 | |||||||||||
Condensed Consolidating Statement of Cash Flows for the nine months ended September 30, 2013 (in millions): | ||||||||||||||||
Condensed consolidating statements of cash flows [Table Text Block] | ' | |||||||||||||||
Condensed Consolidating Statement of Cash Flows for the nine months ended September 30, 2013 (in millions): | ||||||||||||||||
Subsidiary | Parent | Eliminations | Consolidated | |||||||||||||
Guarantors | Company | |||||||||||||||
NET CASH PROVIDED BY OPERATING ACTIVITIES | $ | 276.1 | $ | 19.3 | $ | — | $ | 295.4 | ||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||||||
Proceeds from | ||||||||||||||||
Long-term debt - net of issuance costs | 232.7 | 124.4 | (124.4 | ) | 232.7 | |||||||||||
Additional capital contribution from parent | 11.5 | 4.5 | (11.5 | ) | 4.5 | |||||||||||
Requirements for: | ||||||||||||||||
Dividends to parent | (73.5 | ) | (78.8 | ) | 73.5 | (78.8 | ) | |||||||||
Retirement of long term debt | (223.6 | ) | (221.6 | ) | 107.7 | (337.5 | ) | |||||||||
Net change in intercompany short-term borrowings | (61.5 | ) | — | 61.5 | — | |||||||||||
Net change in short-term borrowings | — | 59.4 | — | 59.4 | ||||||||||||
Net cash used in financing activities | (114.4 | ) | (112.1 | ) | 106.8 | (119.7 | ) | |||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||||||||||
Proceeds from | ||||||||||||||||
Consolidated subsidiary distributions | — | 73.5 | (73.5 | ) | — | |||||||||||
Other investing activities | 0.6 | 0.2 | — | 0.8 | ||||||||||||
Requirements for: | ||||||||||||||||
Capital expenditures, excluding AFUDC equity | (169.4 | ) | (14.2 | ) | — | (183.6 | ) | |||||||||
Consolidated subsidiary investments | — | (11.5 | ) | 11.5 | — | |||||||||||
Net change in long-term intercompany notes receivable | — | (16.7 | ) | 16.7 | — | |||||||||||
Net change in short-term intercompany notes receivable | — | 61.5 | (61.5 | ) | — | |||||||||||
Net cash used in investing activities | (168.8 | ) | 92.8 | (106.8 | ) | (182.8 | ) | |||||||||
Net change in cash & cash equivalents | (7.1 | ) | — | — | (7.1 | ) | ||||||||||
Cash & cash equivalents at beginning of period | 12.5 | 0.8 | — | 13.3 | ||||||||||||
Cash & cash equivalents at end of period | $ | 5.4 | $ | 0.8 | $ | — | $ | 6.2 | ||||||||
Condensed Consolidating Statement of Cash Flows for the nine months ended September 30, 2012 (in millions): | ||||||||||||||||
Subsidiary | Parent | Eliminations | Consolidated | |||||||||||||
Guarantors | Company | |||||||||||||||
NET CASH PROVIDED BY OPERATING ACTIVITIES | $ | 263.6 | $ | 33.7 | $ | — | $ | 297.3 | ||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||||||
Proceeds from: | ||||||||||||||||
Additional capital contribution to parent | 3.5 | 5.4 | (3.5 | ) | 5.4 | |||||||||||
Long-term debt, net of issuance costs | — | 99.5 | — | 99.5 | ||||||||||||
Requirements for dividends to parent | (47.2 | ) | (76.0 | ) | 47.2 | (76.0 | ) | |||||||||
Net change in intercompany short-term borrowings | (41.7 | ) | — | 41.7 | — | |||||||||||
Net change in short-term borrowings | — | (142.7 | ) | — | (142.7 | ) | ||||||||||
Net cash used in financing activities | (85.4 | ) | (113.8 | ) | 85.4 | (113.8 | ) | |||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||||||||||
Proceeds from: | ||||||||||||||||
Consolidated subsidiary distributions | — | 47.2 | (47.2 | ) | — | |||||||||||
Other investing activities | — | 2.3 | — | 2.3 | ||||||||||||
Requirements for: | ||||||||||||||||
Capital expenditures, excluding AFUDC equity | (179.8 | ) | (6.8 | ) | — | (186.6 | ) | |||||||||
Consolidated subsidiary investments | — | (3.5 | ) | 3.5 | — | |||||||||||
Other investing activities | (0.2 | ) | — | — | (0.2 | ) | ||||||||||
Net change in short-term intercompany notes receivable | — | 41.7 | (41.7 | ) | — | |||||||||||
Net cash used in investing activities | (180.0 | ) | 80.9 | (85.4 | ) | (184.5 | ) | |||||||||
Net change in cash & cash equivalents | (1.8 | ) | 0.8 | — | (1.0 | ) | ||||||||||
Cash & cash equivalents at beginning of period | 5.3 | 0.7 | — | 6 | ||||||||||||
Cash & cash equivalents at end of period | $ | 3.5 | $ | 1.5 | $ | — | $ | 5 | ||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | |||||||||||||||
The carrying values and estimated fair values using primarily Level 2 assumptions of the Company's other financial instruments follow: | ||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||
(In millions) | Carrying | Est. Fair | Carrying | Est. Fair | ||||||||||||
Amount | Value | Amount | Value | |||||||||||||
Long-term debt | $ | 1,107.00 | $ | 1,210.40 | $ | 1,208.40 | $ | 1,372.60 | ||||||||
Short-term borrowings | 176.1 | 176.1 | 116.7 | 116.7 | ||||||||||||
Cash & cash equivalents | 6.2 | 6.2 | 13.3 | 13.3 | ||||||||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||||||
Information related to the Company’s business segments is summarized below: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Revenues | ||||||||||||||||
Gas Utility Services | $ | 101.9 | $ | 100.2 | $ | 555.8 | $ | 508.5 | ||||||||
Electric Utility Services | 165.8 | 167.9 | 470 | 456.6 | ||||||||||||
Other Operations | 9.5 | 10.2 | 28.5 | 30.1 | ||||||||||||
Eliminations | (9.5 | ) | (10.6 | ) | (28.3 | ) | (29.6 | ) | ||||||||
Total revenues | $ | 267.7 | $ | 267.7 | $ | 1,026.00 | $ | 965.6 | ||||||||
Profitability Measure - Net Income (Loss) | ||||||||||||||||
Gas Utility Services | $ | (3.8 | ) | $ | (2.7 | ) | $ | 37.2 | $ | 36.1 | ||||||
Electric Utility Services | 26.6 | 26.6 | 60.1 | 59.4 | ||||||||||||
Other Operations | 2.5 | 2.5 | 7.3 | 7 | ||||||||||||
Total net income | $ | 25.3 | $ | 26.4 | $ | 104.6 | $ | 102.5 | ||||||||
Organization_and_Nature_of_Ope1
Organization and Nature of Operations (Details) | 9 Months Ended |
Sep. 30, 2013 | |
Organization and Nature of Operations [Abstract] | ' |
Number of public utility subsidiaries owned by wholly owned subsidiary, Vectren Utility Holdings, Inc. (in number of subsidiaries) | 3 |
Estimated number of natural gas customers located in central and southern Indiana serviced by Indiana Gas Company, Inc. (in number of customers) | 570,000 |
Estimated number of electric customers located near Evansville in southwestern Indiana serviced by Southern Indiana Gas and Electric Company (in number of customers) | 142,000 |
Estimated number of natural gas customers located near Evansville in southwestern Indiana serviced by Southern Indiana Gas and Electric Company (in number of customers) | 110,000 |
Estimated number of natural gas customers located near Dayton in west central Ohio serviced by the Ohio operations (in number of customers) | 311,000 |
Subsidiary_Guarantor_and_Conso2
Subsidiary Guarantor and Consolidating Information Subsidiary Guarantor and Consolidating Information Balance Sheet (Details) (USD $) | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
ASSETS | ' | ' | ' | ' |
Cash & cash equivalents | $6.20 | $13.30 | $5 | $6 |
Accounts receivable - less reserves | 69.9 | 81.8 | ' | ' |
Accrued unbilled revenues | 33.1 | 93.6 | ' | ' |
Inventories | 98.5 | 114 | ' | ' |
Recoverable fuel & natural gas costs | 19.5 | 25.3 | ' | ' |
Prepayments & other current assets | 54.1 | 52.3 | ' | ' |
Total current assets | 281.3 | 380.3 | ' | ' |
Original cost | 5,326.90 | 5,176.80 | ' | ' |
Less: accumulated depreciation & amortization | 2,136.30 | 2,057.20 | ' | ' |
Net utility plant | 3,190.60 | 3,119.60 | ' | ' |
Investments in unconsolidated affiliates | 0.2 | 0.2 | ' | ' |
Nonutility property - net | 143.5 | 146.9 | ' | ' |
Goodwill - net | 205 | 205 | ' | ' |
Regulatory assets | 135.4 | 126.5 | ' | ' |
Other assets | 27.4 | 35.7 | ' | ' |
TOTAL ASSETS | 4,016 | 4,046.80 | ' | ' |
LIABILITIES & SHAREHOLDERS' EQUITY | ' | ' | ' | ' |
Accounts payable | 96.2 | 121 | ' | ' |
Accounts payable to affiliated companies | 0 | 29.7 | ' | ' |
Payables to other Vectren companies | 23.1 | 25.1 | ' | ' |
Accrued liabilities | 103.2 | 139.3 | ' | ' |
Short-term borrowings | 176.1 | 116.7 | ' | ' |
Current maturities of long-term debt | 0 | 105 | ' | ' |
Total current liabilities | 398.6 | 536.8 | ' | ' |
Long-Term Debt - Net of Current Maturities | 1,107 | 1,103.40 | ' | ' |
Deferred income taxes | 627.2 | 578.5 | ' | ' |
Regulatory liabilities | 381.9 | 364.2 | ' | ' |
Deferred Credits and Other Liabilities | 81 | 73.9 | ' | ' |
Total deferred credits and other liabilities | 1,090.10 | 1,016.60 | ' | ' |
Common stock (no par value) | 786.1 | 781.6 | ' | ' |
Retained earnings | 634.2 | 608.4 | ' | ' |
Total common shareholders' equity | 1,420.30 | 1,390 | ' | ' |
TOTAL LIABILITIES and SHAREHOLDERS' EQUITY | 4,016 | 4,046.80 | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | 350 | ' | ' | ' |
Subsidiary Ownership Percentage | 100.00% | ' | ' | ' |
Subsidiary Guarantors [Member] | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' |
Cash & cash equivalents | 5.4 | 12.5 | 3.5 | 5.3 |
Accounts receivable - less reserves | 69.9 | 81.8 | ' | ' |
Intercompany Receivables | 0 | 0 | ' | ' |
Accrued unbilled revenues | 33.1 | 93.6 | ' | ' |
Inventories | 98.4 | 114 | ' | ' |
Recoverable fuel & natural gas costs | 19.5 | 25.3 | ' | ' |
Prepayments & other current assets | 49.6 | 52 | ' | ' |
Total current assets | 275.9 | 379.2 | ' | ' |
Original cost | 5,326.90 | 5,176.60 | ' | ' |
Less: accumulated depreciation & amortization | 2,136.30 | 2,057.20 | ' | ' |
Net utility plant | 3,190.60 | 3,119.40 | ' | ' |
Investments in consolidated subsidiaries | 0 | 0 | ' | ' |
Notes receivable from consolidated subsidiaries | 0 | 0 | ' | ' |
Investments in unconsolidated affiliates | 0.2 | 0.2 | ' | ' |
Other investments | 28.1 | 27.8 | ' | ' |
Nonutility property - net | 2.3 | 2.6 | ' | ' |
Goodwill - net | 205 | 205 | ' | ' |
Regulatory assets | 113.2 | 104.1 | ' | ' |
Other assets | 33.8 | 40.4 | ' | ' |
TOTAL ASSETS | 3,849.10 | 3,878.70 | ' | ' |
LIABILITIES & SHAREHOLDERS' EQUITY | ' | ' | ' | ' |
Accounts payable | 91.5 | 114.8 | ' | ' |
Accounts payable to affiliated companies | ' | 29.7 | ' | ' |
Intercompany payables | 11.3 | 10.6 | ' | ' |
Payables to other Vectren companies | 23.1 | 25.1 | ' | ' |
Accrued liabilities | 113.7 | 131.3 | ' | ' |
Short-term borrowings | 0 | 0 | ' | ' |
Intercompany short-term borrowings | 73.1 | 134.5 | ' | ' |
Current maturities of long-term debt | ' | 5 | ' | ' |
Total current liabilities | 312.7 | 451 | ' | ' |
Long-Term Debt - Net of Current Maturities | 382.4 | 382.3 | ' | ' |
Long-term debt due to VUHI | 696.4 | 679.7 | ' | ' |
Total long-term debt - net | 1,078.80 | 1,062 | ' | ' |
Deferred income taxes | 626.9 | 595.4 | ' | ' |
Regulatory liabilities | 380.3 | 362.2 | ' | ' |
Deferred Credits and Other Liabilities | 85.9 | 78.9 | ' | ' |
Total deferred credits and other liabilities | 1,093.10 | 1,036.50 | ' | ' |
Common stock (no par value) | 799.3 | 787.8 | ' | ' |
Retained earnings | 565.2 | 541.4 | ' | ' |
Total common shareholders' equity | 1,364.50 | 1,329.20 | ' | ' |
TOTAL LIABILITIES and SHAREHOLDERS' EQUITY | 3,849.10 | 3,878.70 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' |
Cash & cash equivalents | 0.8 | 0.8 | 1.5 | 0.7 |
Accounts receivable - less reserves | 0 | 0 | ' | ' |
Intercompany Receivables | 84.4 | 145.1 | ' | ' |
Accrued unbilled revenues | 0 | 0 | ' | ' |
Inventories | 0.1 | 0 | ' | ' |
Recoverable fuel & natural gas costs | 0 | 0 | ' | ' |
Prepayments & other current assets | 30.3 | 5.8 | ' | ' |
Total current assets | 115.6 | 151.7 | ' | ' |
Original cost | 0 | 0.2 | ' | ' |
Less: accumulated depreciation & amortization | 0 | 0 | ' | ' |
Net utility plant | 0 | 0.2 | ' | ' |
Investments in consolidated subsidiaries | 1,364.50 | 1,329.20 | ' | ' |
Notes receivable from consolidated subsidiaries | 696.4 | 679.7 | ' | ' |
Investments in unconsolidated affiliates | 0 | 0 | ' | ' |
Other investments | 4.5 | 4.8 | ' | ' |
Nonutility property - net | 141.2 | 144.3 | ' | ' |
Goodwill - net | 0 | 0 | ' | ' |
Regulatory assets | 22.2 | 22.4 | ' | ' |
Other assets | 1.1 | 1.7 | ' | ' |
TOTAL ASSETS | 2,345.50 | 2,334 | ' | ' |
LIABILITIES & SHAREHOLDERS' EQUITY | ' | ' | ' | ' |
Accounts payable | 4.7 | 6.2 | ' | ' |
Accounts payable to affiliated companies | ' | 0 | ' | ' |
Intercompany payables | 0 | 0 | ' | ' |
Payables to other Vectren companies | 0 | 0 | ' | ' |
Accrued liabilities | 15.3 | 13.5 | ' | ' |
Short-term borrowings | 176.1 | 116.7 | ' | ' |
Intercompany short-term borrowings | 0 | 0 | ' | ' |
Current maturities of long-term debt | ' | 100 | ' | ' |
Total current liabilities | 196.1 | 236.4 | ' | ' |
Long-Term Debt - Net of Current Maturities | 724.6 | 721.1 | ' | ' |
Long-term debt due to VUHI | 0 | 0 | ' | ' |
Total long-term debt - net | 724.6 | 721.1 | ' | ' |
Deferred income taxes | 0.3 | -16.9 | ' | ' |
Regulatory liabilities | 1.6 | 2 | ' | ' |
Deferred Credits and Other Liabilities | 2.6 | 1.4 | ' | ' |
Total deferred credits and other liabilities | 4.5 | -13.5 | ' | ' |
Common stock (no par value) | 786.1 | 781.6 | ' | ' |
Retained earnings | 634.2 | 608.4 | ' | ' |
Total common shareholders' equity | 1,420.30 | 1,390 | ' | ' |
TOTAL LIABILITIES and SHAREHOLDERS' EQUITY | 2,345.50 | 2,334 | ' | ' |
Line of Credit Facility, Amount Outstanding | 176 | ' | ' | ' |
Unsecured Debt | 725 | ' | ' | ' |
Consolidation, Eliminations [Member] | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' |
Cash & cash equivalents | 0 | 0 | 0 | 0 |
Accounts receivable - less reserves | 0 | 0 | ' | ' |
Intercompany Receivables | -84.4 | -145.1 | ' | ' |
Accrued unbilled revenues | 0 | 0 | ' | ' |
Inventories | 0 | 0 | ' | ' |
Recoverable fuel & natural gas costs | 0 | 0 | ' | ' |
Prepayments & other current assets | -25.8 | -5.5 | ' | ' |
Total current assets | -110.2 | -150.6 | ' | ' |
Original cost | 0 | 0 | ' | ' |
Less: accumulated depreciation & amortization | 0 | 0 | ' | ' |
Net utility plant | 0 | 0 | ' | ' |
Investments in consolidated subsidiaries | -1,364.50 | -1,329.20 | ' | ' |
Notes receivable from consolidated subsidiaries | -696.4 | -679.7 | ' | ' |
Investments in unconsolidated affiliates | 0 | 0 | ' | ' |
Other investments | 0 | 0 | ' | ' |
Nonutility property - net | 0 | 0 | ' | ' |
Goodwill - net | 0 | 0 | ' | ' |
Regulatory assets | 0 | 0 | ' | ' |
Other assets | -7.5 | -6.4 | ' | ' |
TOTAL ASSETS | -2,178.60 | -2,165.90 | ' | ' |
LIABILITIES & SHAREHOLDERS' EQUITY | ' | ' | ' | ' |
Accounts payable | 0 | 0 | ' | ' |
Accounts payable to affiliated companies | ' | 0 | ' | ' |
Intercompany payables | -11.3 | -10.6 | ' | ' |
Payables to other Vectren companies | 0 | 0 | ' | ' |
Accrued liabilities | -25.8 | -5.5 | ' | ' |
Short-term borrowings | 0 | 0 | ' | ' |
Intercompany short-term borrowings | -73.1 | -134.5 | ' | ' |
Current maturities of long-term debt | ' | 0 | ' | ' |
Total current liabilities | -110.2 | -150.6 | ' | ' |
Long-Term Debt - Net of Current Maturities | 0 | 0 | ' | ' |
Long-term debt due to VUHI | -696.4 | -679.7 | ' | ' |
Total long-term debt - net | -696.4 | -679.7 | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' |
Regulatory liabilities | 0 | 0 | ' | ' |
Deferred Credits and Other Liabilities | -7.5 | -6.4 | ' | ' |
Total deferred credits and other liabilities | -7.5 | -6.4 | ' | ' |
Common stock (no par value) | -799.3 | -787.8 | ' | ' |
Retained earnings | -565.2 | -541.4 | ' | ' |
Total common shareholders' equity | -1,364.50 | -1,329.20 | ' | ' |
TOTAL LIABILITIES and SHAREHOLDERS' EQUITY | -2,178.60 | -2,165.90 | ' | ' |
Consolidated Entities [Member] | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' |
Cash & cash equivalents | 6.2 | 13.3 | 5 | 6 |
Accounts receivable - less reserves | 69.9 | 81.8 | ' | ' |
Intercompany Receivables | 0 | 0 | ' | ' |
Accrued unbilled revenues | 33.1 | 93.6 | ' | ' |
Inventories | 98.5 | 114 | ' | ' |
Recoverable fuel & natural gas costs | 19.5 | 25.3 | ' | ' |
Prepayments & other current assets | 54.1 | 52.3 | ' | ' |
Total current assets | 281.3 | 380.3 | ' | ' |
Original cost | 5,326.90 | 5,176.80 | ' | ' |
Less: accumulated depreciation & amortization | 2,136.30 | 2,057.20 | ' | ' |
Net utility plant | 3,190.60 | 3,119.60 | ' | ' |
Investments in consolidated subsidiaries | 0 | 0 | ' | ' |
Notes receivable from consolidated subsidiaries | 0 | 0 | ' | ' |
Investments in unconsolidated affiliates | 0.2 | 0.2 | ' | ' |
Other investments | 32.6 | 32.6 | ' | ' |
Nonutility property - net | 143.5 | 146.9 | ' | ' |
Goodwill - net | 205 | 205 | ' | ' |
Regulatory assets | 135.4 | 126.5 | ' | ' |
Other assets | 27.4 | 35.7 | ' | ' |
TOTAL ASSETS | 4,016 | 4,046.80 | ' | ' |
LIABILITIES & SHAREHOLDERS' EQUITY | ' | ' | ' | ' |
Accounts payable | 96.2 | 121 | ' | ' |
Accounts payable to affiliated companies | ' | 29.7 | ' | ' |
Intercompany payables | 0 | 0 | ' | ' |
Payables to other Vectren companies | 23.1 | 25.1 | ' | ' |
Accrued liabilities | 103.2 | 139.3 | ' | ' |
Short-term borrowings | 176.1 | 116.7 | ' | ' |
Intercompany short-term borrowings | 0 | 0 | ' | ' |
Current maturities of long-term debt | ' | 105 | ' | ' |
Total current liabilities | 398.6 | 536.8 | ' | ' |
Long-Term Debt - Net of Current Maturities | 1,107 | 1,103.40 | ' | ' |
Long-term debt due to VUHI | 0 | 0 | ' | ' |
Total long-term debt - net | 1,107 | 1,103.40 | ' | ' |
Deferred income taxes | 627.2 | 578.5 | ' | ' |
Regulatory liabilities | 381.9 | 364.2 | ' | ' |
Deferred Credits and Other Liabilities | 81 | 73.9 | ' | ' |
Total deferred credits and other liabilities | 1,090.10 | 1,016.60 | ' | ' |
Common stock (no par value) | 786.1 | 781.6 | ' | ' |
Retained earnings | 634.2 | 608.4 | ' | ' |
Total common shareholders' equity | 1,420.30 | 1,390 | ' | ' |
TOTAL LIABILITIES and SHAREHOLDERS' EQUITY | $4,016 | $4,046.80 | ' | ' |
Subsidiary_Guarantor_and_Conso3
Subsidiary Guarantor and Consolidating Information Subsidiary Guarantor and Consolidating Information Income Statement (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
OPERATING REVENUES [Abstract] | ' | ' | ' | ' |
Gas utility | $101.90 | $100.20 | $555.80 | $508.50 |
Electric utility | 165.8 | 167.9 | 470 | 456.6 |
Other | 0 | -0.4 | 0.2 | 0.5 |
Total operating revenues | 267.7 | 267.7 | 1,026 | 965.6 |
OPERATING EXPENSES [Abstract] | ' | ' | ' | ' |
Cost of gas sold | 27.5 | 28.1 | 235.4 | 197 |
Cost of fuel & purchased power | 50.4 | 52.9 | 154.5 | 144.6 |
Other operating | 74 | 71.8 | 236.9 | 229.5 |
Depreciation & Amortization | 49.7 | 46.3 | 146.8 | 142.7 |
Taxes other than income taxes | 11.6 | 11.5 | 41.3 | 39 |
Total operating expenses | 213.2 | 210.6 | 814.9 | 752.8 |
OPERATING INCOME | 54.5 | 57.1 | 211.1 | 212.8 |
Other income - net | 2 | 2.3 | 6.8 | 5.2 |
Interest Expense | 15.6 | 17.8 | 49.2 | 53.5 |
INCOME BEFORE INCOME TAXES | 40.9 | 41.6 | 168.7 | 164.5 |
Income taxes | 15.6 | 15.2 | 64.1 | 62 |
NET INCOME | 25.3 | 26.4 | 104.6 | 102.5 |
Subsidiary Guarantors [Member] | ' | ' | ' | ' |
OPERATING REVENUES [Abstract] | ' | ' | ' | ' |
Gas utility | 101.9 | 100.2 | 555.8 | 508.5 |
Electric utility | 165.8 | 167.9 | 470 | 456.6 |
Other | 0 | 0 | 0 | 0 |
Total operating revenues | 267.7 | 268.1 | 1,025.80 | 965.1 |
OPERATING EXPENSES [Abstract] | ' | ' | ' | ' |
Cost of gas sold | 27.5 | 28.1 | 235.4 | 197 |
Cost of fuel & purchased power | 50.4 | 52.9 | 154.5 | 144.6 |
Other operating | 83.1 | 82.3 | 264.3 | 258.2 |
Depreciation & Amortization | 44.1 | 40.8 | 130.5 | 124.6 |
Taxes other than income taxes | 11.2 | 11.1 | 40.1 | 37.8 |
Total operating expenses | 216.3 | 215.2 | 824.8 | 762.2 |
OPERATING INCOME | 51.4 | 52.9 | 201 | 202.9 |
Other income - net | 1.2 | 1.8 | 4.9 | 4 |
Interest Expense | 14.7 | 16.2 | 44.7 | 49.1 |
INCOME BEFORE INCOME TAXES | 37.9 | 38.5 | 161.2 | 157.8 |
Income taxes | 15 | 14.5 | 63.8 | 62.2 |
Equity in earnings of consolidated companies, net of tax | 0 | 0 | 0 | 0 |
NET INCOME | 22.9 | 24 | 97.4 | 95.6 |
Parent Company [Member] | ' | ' | ' | ' |
OPERATING REVENUES [Abstract] | ' | ' | ' | ' |
Gas utility | 0 | 0 | 0 | 0 |
Electric utility | 0 | 0 | 0 | 0 |
Other | 9.4 | 10.2 | 28.4 | 30.1 |
Total operating revenues | 9.4 | 10.2 | 28.4 | 30.1 |
OPERATING EXPENSES [Abstract] | ' | ' | ' | ' |
Cost of gas sold | 0 | 0 | 0 | 0 |
Cost of fuel & purchased power | 0 | 0 | 0 | 0 |
Other operating | 0 | 0 | 0 | 0.5 |
Depreciation & Amortization | 5.4 | 5.3 | 15.9 | 17.7 |
Taxes other than income taxes | 0.4 | 0.4 | 1.2 | 1.1 |
Total operating expenses | 5.8 | 5.7 | 17.1 | 19.3 |
OPERATING INCOME | 3.6 | 4.5 | 11.3 | 10.8 |
Other income - net | 9.8 | 10.4 | 28.6 | 30.9 |
Interest Expense | 10.4 | 11.8 | 32.4 | 35 |
INCOME BEFORE INCOME TAXES | 3 | 3.1 | 7.5 | 6.7 |
Income taxes | 0.6 | 0.7 | 0.3 | -0.2 |
Equity in earnings of consolidated companies, net of tax | 22.9 | 24 | 97.4 | 95.6 |
NET INCOME | 25.3 | 26.4 | 104.6 | 102.5 |
Consolidation, Eliminations [Member] | ' | ' | ' | ' |
OPERATING REVENUES [Abstract] | ' | ' | ' | ' |
Gas utility | 0 | 0 | 0 | 0 |
Electric utility | 0 | 0 | 0 | 0 |
Other | -9.4 | -10.6 | -28.2 | -29.6 |
Total operating revenues | -9.4 | -10.6 | -28.2 | -29.6 |
OPERATING EXPENSES [Abstract] | ' | ' | ' | ' |
Cost of gas sold | 0 | 0 | 0 | 0 |
Cost of fuel & purchased power | 0 | 0 | 0 | 0 |
Other operating | -9.1 | -10.5 | -27.4 | -29.2 |
Depreciation & Amortization | 0.2 | 0.2 | 0.4 | 0.4 |
Taxes other than income taxes | 0 | 0 | 0 | 0.1 |
Total operating expenses | -8.9 | -10.3 | -27 | -28.7 |
OPERATING INCOME | -0.5 | -0.3 | -1.2 | -0.9 |
Other income - net | -9 | -9.9 | -26.7 | -29.7 |
Interest Expense | -9.5 | -10.2 | -27.9 | -30.6 |
INCOME BEFORE INCOME TAXES | 0 | 0 | 0 | 0 |
Income taxes | 0 | 0 | 0 | 0 |
Equity in earnings of consolidated companies, net of tax | -22.9 | -24 | -97.4 | -95.6 |
NET INCOME | -22.9 | -24 | -97.4 | -95.6 |
Consolidated Entities [Member] | ' | ' | ' | ' |
OPERATING REVENUES [Abstract] | ' | ' | ' | ' |
Gas utility | 101.9 | 100.2 | 555.8 | 508.5 |
Electric utility | 165.8 | 167.9 | 470 | 456.6 |
Other | 0 | -0.4 | 0.2 | 0.5 |
Total operating revenues | 267.7 | 267.7 | 1,026 | 965.6 |
OPERATING EXPENSES [Abstract] | ' | ' | ' | ' |
Cost of gas sold | 27.5 | 28.1 | 235.4 | 197 |
Cost of fuel & purchased power | 50.4 | 52.9 | 154.5 | 144.6 |
Other operating | 74 | 71.8 | 236.9 | 229.5 |
Depreciation & Amortization | 49.7 | 46.3 | 146.8 | 142.7 |
Taxes other than income taxes | 11.6 | 11.5 | 41.3 | 39 |
Total operating expenses | 213.2 | 210.6 | 814.9 | 752.8 |
OPERATING INCOME | 54.5 | 57.1 | 211.1 | 212.8 |
Other income - net | 2 | 2.3 | 6.8 | 5.2 |
Interest Expense | 15.6 | 17.8 | 49.2 | 53.5 |
INCOME BEFORE INCOME TAXES | 40.9 | 41.6 | 168.7 | 164.5 |
Income taxes | 15.6 | 15.2 | 64.1 | 62 |
Equity in earnings of consolidated companies, net of tax | 0 | 0 | 0 | 0 |
NET INCOME | $25.30 | $26.40 | $104.60 | $102.50 |
Subsidiary_Guarantor_and_Conso4
Subsidiary Guarantor and Consolidating Information Subsidiary Guarantor and Consolidating Information Cash Flows (Details) (USD $) | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Net cash provided by operating activities | $295.40 | $297.30 | ' | ' |
Long-term debt - net of issuance costs | 232.7 | 99.5 | ' | ' |
Additional capital contribution from parent | 4.5 | 5.4 | ' | ' |
Dividends to parent | -78.8 | -76 | ' | ' |
Retirement of long-term debt | -337.5 | 0 | ' | ' |
Net change in intercompany short-term borrowings | 0 | ' | ' | ' |
Net change in short-term borrowings | 59.4 | -142.7 | ' | ' |
Net cash used in financing activities | -119.7 | -113.8 | ' | ' |
Consolidated subsidiary distributions | 0 | ' | ' | ' |
Proceeds from other investing activities | 0.8 | 2.3 | ' | ' |
Capital expenditures, excluding AFUDC equity | -183.6 | -186.6 | ' | ' |
Consolidated subsidiary investments | 0 | ' | ' | ' |
Other investments | 0 | -0.2 | ' | ' |
Net change in long-term intercompany notes receivable | 0 | ' | ' | ' |
Net change in short term intercompany notes receivable | 0 | ' | ' | ' |
Net cash used in investing activities | -182.8 | -184.5 | ' | ' |
Net change in cash and cash equivalents | -7.1 | -1 | ' | ' |
Cash & cash equivalents | 6.2 | 5 | 13.3 | 6 |
Subsidiary Guarantors [Member] | ' | ' | ' | ' |
Net cash provided by operating activities | 276.1 | 263.6 | ' | ' |
Long-term debt - net of issuance costs | 232.7 | 0 | ' | ' |
Additional capital contribution from parent | 11.5 | 3.5 | ' | ' |
Dividends to parent | -73.5 | -47.2 | ' | ' |
Retirement of long-term debt | -223.6 | ' | ' | ' |
Net change in intercompany short-term borrowings | -61.5 | -41.7 | ' | ' |
Net change in short-term borrowings | 0 | 0 | ' | ' |
Net cash used in financing activities | -114.4 | -85.4 | ' | ' |
Consolidated subsidiary distributions | 0 | 0 | ' | ' |
Proceeds from other investing activities | 0.6 | 0 | ' | ' |
Capital expenditures, excluding AFUDC equity | -169.4 | -179.8 | ' | ' |
Consolidated subsidiary investments | 0 | 0 | ' | ' |
Other investments | ' | -0.2 | ' | ' |
Net change in long-term intercompany notes receivable | 0 | ' | ' | ' |
Net change in short term intercompany notes receivable | 0 | 0 | ' | ' |
Net cash used in investing activities | -168.8 | -180 | ' | ' |
Net change in cash and cash equivalents | -7.1 | -1.8 | ' | ' |
Cash & cash equivalents | 5.4 | 3.5 | 12.5 | 5.3 |
Parent Company [Member] | ' | ' | ' | ' |
Net cash provided by operating activities | 19.3 | 33.7 | ' | ' |
Long-term debt - net of issuance costs | 124.4 | 99.5 | ' | ' |
Additional capital contribution from parent | 4.5 | 5.4 | ' | ' |
Dividends to parent | -78.8 | -76 | ' | ' |
Retirement of long-term debt | -221.6 | ' | ' | ' |
Net change in intercompany short-term borrowings | 0 | 0 | ' | ' |
Net change in short-term borrowings | 59.4 | -142.7 | ' | ' |
Net cash used in financing activities | -112.1 | -113.8 | ' | ' |
Consolidated subsidiary distributions | 73.5 | 47.2 | ' | ' |
Proceeds from other investing activities | 0.2 | 2.3 | ' | ' |
Capital expenditures, excluding AFUDC equity | -14.2 | -6.8 | ' | ' |
Consolidated subsidiary investments | -11.5 | -3.5 | ' | ' |
Other investments | ' | 0 | ' | ' |
Net change in long-term intercompany notes receivable | -16.7 | ' | ' | ' |
Net change in short term intercompany notes receivable | 61.5 | 41.7 | ' | ' |
Net cash used in investing activities | 92.8 | 80.9 | ' | ' |
Net change in cash and cash equivalents | 0 | 0.8 | ' | ' |
Cash & cash equivalents | 0.8 | 1.5 | 0.8 | 0.7 |
Consolidation, Eliminations [Member] | ' | ' | ' | ' |
Net cash provided by operating activities | 0 | 0 | ' | ' |
Long-term debt - net of issuance costs | -124.4 | 0 | ' | ' |
Additional capital contribution from parent | -11.5 | -3.5 | ' | ' |
Dividends to parent | 73.5 | 47.2 | ' | ' |
Retirement of long-term debt | 107.7 | ' | ' | ' |
Net change in intercompany short-term borrowings | 61.5 | 41.7 | ' | ' |
Net change in short-term borrowings | 0 | 0 | ' | ' |
Net cash used in financing activities | 106.8 | 85.4 | ' | ' |
Consolidated subsidiary distributions | -73.5 | -47.2 | ' | ' |
Proceeds from other investing activities | 0 | 0 | ' | ' |
Capital expenditures, excluding AFUDC equity | 0 | 0 | ' | ' |
Consolidated subsidiary investments | 11.5 | 3.5 | ' | ' |
Other investments | ' | 0 | ' | ' |
Net change in long-term intercompany notes receivable | 16.7 | ' | ' | ' |
Net change in short term intercompany notes receivable | -61.5 | -41.7 | ' | ' |
Net cash used in investing activities | -106.8 | -85.4 | ' | ' |
Net change in cash and cash equivalents | 0 | 0 | ' | ' |
Cash & cash equivalents | 0 | 0 | 0 | 0 |
Consolidated Entities [Member] | ' | ' | ' | ' |
Net cash provided by operating activities | ' | 297.3 | ' | ' |
Long-term debt - net of issuance costs | ' | 99.5 | ' | ' |
Additional capital contribution from parent | ' | 5.4 | ' | ' |
Dividends to parent | ' | -76 | ' | ' |
Net change in intercompany short-term borrowings | ' | 0 | ' | ' |
Net change in short-term borrowings | ' | -142.7 | ' | ' |
Net cash used in financing activities | ' | -113.8 | ' | ' |
Consolidated subsidiary distributions | ' | 0 | ' | ' |
Proceeds from other investing activities | ' | 2.3 | ' | ' |
Capital expenditures, excluding AFUDC equity | ' | -186.6 | ' | ' |
Consolidated subsidiary investments | ' | 0 | ' | ' |
Other investments | ' | -0.2 | ' | ' |
Net change in short term intercompany notes receivable | ' | 0 | ' | ' |
Net cash used in investing activities | ' | -184.5 | ' | ' |
Net change in cash and cash equivalents | ' | -1 | ' | ' |
Cash & cash equivalents | $6.20 | $5 | $13.30 | $6 |
Excise_and_Utility_Receipts_Ta1
Excise and Utility Receipts Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Excise and Utility Receipts Taxes [Abstract] | ' | ' | ' | ' |
Excise and utility taxes collected and reported in operating revenue | $4.80 | $4.80 | $20.90 | $19.10 |
Accruals_for_Utility_and_NonUt1
Accruals for Utility and NonUtility Plant Accruals for Utility and NonUtility Plant (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Accruals for Utility & Nonutility Plant [Abstract] | ' | ' |
Public Utilities Accruals For Purchase Of Utility And Non Utility Plant Assets | $9.50 | $7.10 |
Transactions_with_Other_Vectre1
Transactions with Other Vectren Companies and Affiliates Transactions with Other Vectren Companies and Afffiliates (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | Vectren Fuels Inc. [Member] | Vectren Fuels Inc. [Member] | Vectren Fuels Inc. [Member] | Vectren Fuels Inc. [Member] | ProLiance [Member] | ProLiance [Member] | ProLiance [Member] | ProLiance [Member] | Support Services & Purchases [Member] | Support Services & Purchases [Member] | Support Services & Purchases [Member] | Support Services & Purchases [Member] | Vectren Infrastructure Services Corporation [Member] | Vectren Infrastructure Services Corporation [Member] | Vectren Infrastructure Services Corporation [Member] | Vectren Infrastructure Services Corporation [Member] | ||
Transactions with Other Vectren Companies and Affiliates [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expenses from transactions with related party | ' | ' | $24.50 | $24.30 | $76.10 | $82.50 | $57.20 | $200.50 | $186.90 | ' | ' | ' | ' | ' | $15.90 | $17 | $39.50 | $37.70 |
Accounts payable to affiliated companies | 0 | 29.7 | ' | ' | ' | ' | ' | ' | ' | 29.7 | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of corporate and general and administrative services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10.40 | $8.20 | $36.70 | $32.10 | ' | ' | ' | ' |
Date equity method investment disposed of a group of assets | ' | ' | ' | ' | ' | ' | ' | 18-Jun-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing_Activities_Details
Financing Activities (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
In Millions, unless otherwise specified | SIGECO [Member] | FixedRateSeniorGuaranteedNotes2028320 [Member] | Tax Exempt Debt, 4.00%, due 2038 [Member] | Tax Exempt Debt, 4.05%, due 2043 [Member] | FixedRateSeniorGuaranteedNotes2043425 [Member] | Fixed Rate Senior Unsecured Notes 2039625 [Member] | Fixed Rate Senior Unsecure Notes 2023372 [Member] | Fixed Rate Senior Unsecured Notes 2013525 [Member] | Tax Exempt Debt, 1.95 Percent [Member] | ||
Bonds [Member] | Vectren Utility Holdings Inc [Member] | SIGECO [Member] | SIGECO [Member] | Vectren Utility Holdings Inc [Member] | Vectren Utility Holdings Inc [Member] | Vectren Utility Holdings Inc [Member] | Vectren Utility Holdings Inc [Member] | SIGECO [Member] | |||
Unsecured Debt [Member] | Bonds [Member] | Bonds [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Bonds [Member] | ||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt redemption date | ' | ' | ' | ' | ' | ' | ' | 1-Apr-13 | ' | ' | ' |
Face amount | ' | ' | $62 | $45 | $22.20 | $39.60 | $80 | $121.60 | $150 | ' | ' |
Long-term Debt, Current Maturities | 0 | 105 | ' | ' | ' | ' | ' | 121.6 | ' | ' | ' |
Stated percentage rate (in hundredths) | ' | ' | ' | 3.20% | 4.00% | 4.05% | 4.25% | 6.25% | 3.72% | 5.25% | 1.95% |
Maturity date | ' | ' | ' | 5-Jun-28 | ' | ' | 5-Jun-43 | ' | 5-Dec-23 | 1-Aug-13 | ' |
Maturity date year | ' | ' | ' | ' | '2038 | '2043 | ' | '2039 | ' | ' | ' |
Issuance date | ' | ' | ' | 5-Jun-13 | 26-Apr-13 | 26-Apr-13 | 5-Jun-13 | ' | 5-Dec-13 | ' | ' |
Proceeds from Issuance of Debt | ' | ' | 60 | 44.8 | ' | ' | 79.6 | ' | 149.1 | ' | 48.3 |
Amount of debt to be re-marketed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49 |
Debt re-market date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'August 13, 2013 |
Debt Instrument, Offering Date | ' | ' | ' | ' | ' | ' | ' | ' | 22-Aug-13 | ' | ' |
Current portion of long-term debt that will either be refinanced or retired | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100 | ' |
Rate_Regulatory_Matters_Detail
Rate & Regulatory Matters (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
Indiana [Member] | Pipeline Safety Law [Member] | ' | ' |
Public Utilities, General Disclosures [Line Items] | ' | ' |
Lower range of expected annual operating costs associated with new pipeline safety regulations | $5,000,000 | ' |
Upper range of expected annual operating costs associated with new pipeline safety regulations | 10,000,000 | ' |
Seven Year Plan of Eligible Investments Under Indiana Legislation (In Years) | 7 | ' |
Lower Range of Seven Year Period Modernization Investment | 800,000,000 | ' |
Upper Range of Seven Year Period Modernization Investment | 900,000,000 | ' |
Indiana [Member] | Indiana Senate Bill 560 [Member] | ' | ' |
Public Utilities, General Disclosures [Line Items] | ' | ' |
Eligible costs recovered under Indiana legislation | 80.00% | ' |
Recoverable costs deferred for future recovery under Indiana legislation | 20.00% | ' |
Indiana [Member] | Indiana Recovery and Deferral Mechanisms [Member] | ' | ' |
Public Utilities, General Disclosures [Line Items] | ' | ' |
Allowable capital expenditures under Vectren North Program | 20,000,000 | ' |
Allowable expenditures under Vectren South program | 3,000,000 | ' |
Indiana [Member] | Indiana Senate Bill 560 [Member] | ' | ' |
Public Utilities, General Disclosures [Line Items] | ' | ' |
Percentage of costs eligible for recovery using periodic rate recovery mechanism | 80.00% | ' |
Percentage of project costs to be deferred for future recovery | 20.00% | ' |
Adjustment mechanism cap % based on annual retail revenue increase | 2.00% | ' |
Indiana [Member] | SIGECO [Member] | Indiana Recovery and Deferral Mechanisms [Member] | ' | ' |
Public Utilities, General Disclosures [Line Items] | ' | ' |
Limitations of deferrals of debt-related post in service carrying costs | '3 | ' |
Indiana [Member] | Indiana Gas [Member] | Indiana Recovery and Deferral Mechanisms [Member] | ' | ' |
Public Utilities, General Disclosures [Line Items] | ' | ' |
Limitations of deferrals of debt-related post in service carrying costs | '4 | ' |
Ohio [Member] | Ohio DRR [Member] | ' | ' |
Public Utilities, General Disclosures [Line Items] | ' | ' |
Bill impact per customer per month | 1 | ' |
Cumulative gross plant invesment made under Distribution Replacement Rider | 101,000,000 | ' |
Regulatory Asset associated with DRR deferrals of depreciation and post in-service carrying costs | 8,700,000 | 6,500,000 |
Initial DRR term | 5 | ' |
LengthofDRRExtensionRequest | 5 | ' |
Amount of Capital Investment Expected Over Next Five Years Recoverable Under DRR | 187,000,000 | ' |
Ohio [Member] | Ohio House Bill 95 [Member] | ' | ' |
Public Utilities, General Disclosures [Line Items] | ' | ' |
Bill impact per customer per month | 1.5 | ' |
Estimated budget related to Ohio capital expenditure program | ' | 23,500,000 |
Time period (in months) included in VEDO application | '15 | ' |
Capital Expenditure Program Expenditures | 61,500,000 | ' |
Portion of Capital Investment That May Be Recoverable Under DRR | $34,800,000 | ' |
Environmental_Matters_Details
Environmental Matters (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | MW | |
Clean Air Act [Abstract] | ' | ' |
SIGECO investment in Property, Plant and Equipment, Pollution control equipment | $411 | ' |
Property, Plant and Equipment, amount of investment in pollution control equipment included in rate base | 411 | ' |
Percentage of coal fired generating fleet currently being scrubbed for SO2 (in hundredths) | 100.00% | ' |
Percentage of coal fired generating fleet currently controlled for NOx (in hundredths) | 90.00% | ' |
Cost of most of the allowances granted to company for NOx and SO2 inventory usage | 0 | ' |
Lower range of potential pollution control equipment costs for compliance with government regulation | 80 | ' |
Upper range of potential pollution control equipment costs for compliance with government regulation | 110 | ' |
Clean Water Act [Abstract] | ' | ' |
Estimated capital expenditures related to Clean Water Act | 40 | ' |
Coal Ash Waste Disposal and Ash Ponds [Abstract] | ' | ' |
Estimated capital expenditures to comply with ash pond and coal ash disposal regulations | 30 | ' |
Potential estimated capital expenditures to comply with ash pond and coal ash disposal regulations with stringent alternative | 100 | ' |
Estimated annual compliance costs maximum with ash pond and coal ash disposal regulation | 5 | ' |
Climate Changes [Abstract] | ' | ' |
Maximum level of greenhouse gas emissions that prompts requirement to obtain permit for facilities to construct new facility of significant modification to existing facility (in tons) | 75,000 | ' |
Indiana Senate Bill 251 [Abstract] | ' | ' |
Power generation capacity for acquired landfill gas generations facility (in megawatts) | 3 | ' |
Long term contract for purchase of electric power generated by wind energy (in megawatts) | 80 | ' |
Percentage of total electricity obtained by the supplier to meet the energy needs of its retail customers provided by clean energy sources (in hundredths) | 10.00% | ' |
Percentage of electricity to be provided by clean energy sources under Indiana legislation by 2025 under voluntary program | 5.00% | ' |
Manufactured Gas Plants | ' | ' |
Site contingency, accrual, undiscounted amount | 42.4 | ' |
Accrual for Environmental Loss Contingencies | 5.1 | 4.6 |
Indiana Gas [Member] | ' | ' |
Manufactured Gas Plants | ' | ' |
Number of sites identified with potential remedial responsibility for entity (in number of sites) | 26 | ' |
Site contingency, accrual, undiscounted amount | 23.2 | ' |
Site Contingency Recovery From Insurance Carriers Of Environmental Remediation Cost | 20.8 | ' |
SIGECO [Member] | ' | ' |
Manufactured Gas Plants | ' | ' |
Number of sites identified with potential remedial responsibility for entity (in number of sites) | 5 | ' |
Site contingency, accrual, undiscounted amount | 19.2 | ' |
Site Contingency Recovery From Insurance Carriers Of Environmental Remediation Cost | 14.2 | ' |
Expected Site Contingency Recovery from Insurance Carriers of Environmental Remediation Costs | $15.70 | ' |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Period over which call premium on reacquisition of long-term debt | '15 | ' | ' | ' |
Short-term borrowings | $176.10 | $116.70 | ' | ' |
Cash and Cash Equivalents, at Carrying Value | 6.2 | 13.3 | 5 | 6 |
Carrying Amount [Member] | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Long-term Debt, Fair Value | 1,107 | 1,208.40 | ' | ' |
Short-term Debt, Fair Value | 176.1 | 116.7 | ' | ' |
Cash and cash equivalents | 6.2 | 13.3 | ' | ' |
Estimated Fair Value [Member] | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Long-term Debt, Fair Value | 1,210.40 | 1,372.60 | ' | ' |
Short-term Debt, Fair Value | 176.1 | 116.7 | ' | ' |
Cash and cash equivalents | $6.20 | $13.30 | ' | ' |
Segment_Reporting_Details
Segment Reporting (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Portion of Indiana that is provided natural gas distribution and transportation services by the Gas Utility Services segment (in hundredths) | 66.67% | ' | 66.67% | ' |
Revenues | $267.70 | $267.70 | $1,026 | $965.60 |
Profitability Measure - Net income (loss) | 25.3 | 26.4 | 104.6 | 102.5 |
Utility Group [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Number of Reportable Segments | ' | ' | 3 | ' |
Utility Group [Member] | Gas Utility Services [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenues | 101.9 | 100.2 | 555.8 | 508.5 |
Profitability Measure - Net income (loss) | -3.8 | -2.7 | 37.2 | 36.1 |
Utility Group [Member] | Electric Utility Services [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenues | 165.8 | 167.9 | 470 | 456.6 |
Profitability Measure - Net income (loss) | 26.6 | 26.6 | 60.1 | 59.4 |
Utility Group [Member] | Other Segments [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenues | 9.5 | 10.2 | 28.5 | 30.1 |
Profitability Measure - Net income (loss) | 2.5 | 2.5 | 7.3 | 7 |
Utility Group [Member] | Intersegment Eliminations [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenues | ($9.50) | ($10.60) | ($28.30) | ($29.60) |