Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended |
Sep. 30, 2014 | |
Document and Entity Information [Abstract] | ' |
Entity Registrant Name | 'ONCOR ELECTRIC DELIVERY CO LLC |
Entity Central Index Key | '0001193311 |
Document Type | 'S-4 |
Document Period End Date | 30-Sep-14 |
Amendment Flag | 'false |
Current Fiscal Year End Date | '--12-31 |
Entity Filer Category | 'Non-accelerated Filer |
Condensed_Statements_Of_Consol
Condensed Statements Of Consolidated Income (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating revenues: | ' | ' | ' | ' | ' | ' | ' |
Nonaffiliates | $773 | $693 | $2,137 | $1,912 | $2,585 | $2,366 | $2,092 |
Affiliates | 281 | 273 | 746 | 728 | 967 | 962 | 1,026 |
Total operating revenues | 1,054 | 966 | 2,883 | 2,640 | 3,552 | 3,328 | 3,118 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' |
Wholesale transmission service | 193 | 146 | 557 | 417 | 588 | 502 | 439 |
Operation and maintenance | 183 | 169 | 517 | 502 | 681 | 669 | 658 |
Depreciation and amortization | 218 | 207 | 638 | 608 | 814 | 771 | 719 |
Provision in lieu of income taxes (Note 10) | 98 | 93 | 221 | 190 | 247 | 240 | 209 |
Taxes other than amounts related to income taxes | 115 | 112 | 330 | 315 | 424 | 415 | 400 |
Total operating expenses | 807 | 727 | 2,263 | 2,032 | 2,754 | 2,597 | 2,425 |
Operating income | 247 | 239 | 620 | 608 | 798 | 731 | 693 |
Other income and deductions: | ' | ' | ' | ' | ' | ' | ' |
Other income (Note 11) | 3 | 4 | 10 | 14 | 18 | 26 | 30 |
Other deductions (Note 11) | 4 | 2 | 11 | 11 | 15 | 64 | 9 |
Nonoperating provision in lieu of income taxes | ' | 1 | 1 | 1 | 2 | -6 | 20 |
Interest income | 1 | ' | 3 | 2 | 4 | 24 | 32 |
Interest expense and related charges (Note 11) | 89 | 94 | 266 | 283 | 371 | 374 | 359 |
Net income | $158 | $146 | $355 | $329 | $432 | $349 | $367 |
Condensed_Statements_Of_Consol1
Condensed Statements Of Consolidated Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Statements Of Consolidated Comprehensive Income [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Net income | $158 | $146 | $355 | $329 | $432 | $349 | $367 |
Cash flow hedges (Notes 1 and 6): | ' | ' | ' | ' | ' | ' | ' |
Net decrease in fair value of derivatives | ' | ' | ' | ' | ' | ' | -29 |
Derivative value net loss recognized in net income | ' | ' | ' | ' | 2 | 3 | ' |
Cash flow hedges - derivative value net loss recognized in net income | 1 | 1 | 2 | 3 | 2 | 3 | -29 |
Defined benefit pension plans | -1 | ' | -1 | -1 | -19 | -3 | ' |
Total other comprehensive income (loss) | ' | 1 | 1 | 2 | -17 | ' | -29 |
Comprehensive income | $158 | $147 | $356 | $331 | $415 | $349 | $338 |
Condensed_Statements_Of_Consol2
Condensed Statements Of Consolidated Comprehensive Income (Parenthetical) (USD $) | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Statements Of Consolidated Comprehensive Income [Abstract] | ' | ' | ' | ' | ' |
Cash flow hedges - derivative value net loss recognized in net income, tax benefit | ' | ' | ' | ' | $17 |
Cash flow hedges - derivative value net loss recognized in net income, tax benefit | 1 | 1 | 1 | 1 | ' |
Defined benefit pension plans- net tax benefit | ' | ' | $11 | $1 | ' |
Condensed_Statements_Of_Consol3
Condensed Statements Of Consolidated Cash Flows (USD $) | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows - operating activities: | ' | ' | ' | ' | ' |
Net income | $355 | $329 | $432 | $349 | $367 |
Adjustments to reconcile net income to cash provided by operating activities: | ' | ' | ' | ' | ' |
Depreciation and amortization | 669 | 634 | 848 | 802 | 732 |
Provision in lieu of deferred income taxes - net | -36 | 143 | 194 | 208 | 258 |
Other - net | -2 | -3 | -4 | -4 | -3 |
Changes in operating assets and liabilities: | ' | ' | ' | ' | ' |
Accounts receivable - trade (including affiliates) | ' | ' | -129 | 52 | -36 |
Inventories | ' | ' | 9 | -3 | 25 |
Accounts payable - trade (including affiliates) | ' | ' | 38 | -9 | 17 |
Deferred revenues (Note 4) | -20 | -19 | -53 | -101 | -7 |
Other - assets | ' | ' | 172 | -17 | 111 |
Other - liabilities | ' | ' | -137 | -8 | -169 |
Changes in other operating assets and liabilities | -101 | -174 | ' | ' | ' |
Cash provided by operating activities | 865 | 910 | 1,370 | 1,269 | 1,295 |
Cash flows - financing activities: | ' | ' | ' | ' | ' |
Issuance of long-term debt (Note 6) | 250 | 100 | 100 | 900 | 300 |
Repayments of long-term debt (Note 6) | -89 | -84 | -125 | -1,018 | -113 |
Net increase in short-term borrowings (Note 5) | -25 | 125 | 10 | 343 | 15 |
Distributions to members (Note 8) | -181 | -215 | -310 | -225 | -145 |
Decrease in note receivable from TCEH (Note 11) | ' | ' | ' | 20 | 40 |
Sale of related-party agreements (Note 11) | ' | ' | ' | 159 | ' |
Debt discount, premium, financing and reacquisition expenses - net | -4 | 2 | 1 | -46 | -17 |
Other-net | ' | ' | ' | -1 | ' |
Cash (used in) provided by financing activities | -49 | -72 | -324 | 132 | 80 |
Cash flows - investing activities: | ' | ' | ' | ' | ' |
Capital expenditures | -822 | -870 | -1,079 | -1,389 | -1,362 |
Other - net | -4 | 4 | 15 | 21 | -34 |
Cash used in investing activities | -826 | -866 | -1,064 | -1,368 | -1,396 |
Net change in cash and cash equivalents | -10 | -28 | -18 | 33 | -21 |
Cash and cash equivalents - beginning balance | 27 | 45 | 45 | 12 | 33 |
Cash and cash equivalents - ending balance | $17 | $17 | $27 | $45 | $12 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
In Millions, unless otherwise specified | ||||||
Current assets: | ' | ' | ' | |||
Cash and cash equivalents | $17 | $27 | $45 | |||
Restricted cash - Bondco (Note 11) | 67 | 52 | 55 | |||
Trade accounts receivable from nonaffiliates - net (Note 11) | 469 | 385 | 338 | |||
Trade accounts and other receivables from affiliates - net (Note 10) | 152 | 135 | 53 | |||
Amounts receivable from members related to income taxes (Note 10) | ' | 23 | ' | |||
Materials and supplies inventories - at average cost | 76 | 65 | 73 | |||
Prepayments and other current assets | 86 | 79 | 79 | |||
Total current assets | 867 | 766 | 643 | |||
Restricted cash - Bondco (Note 11) | 16 | 16 | 16 | |||
Investments and other property (Note 11) | 96 | 91 | 83 | |||
Property, plant and equipment - net (Note 11) | 12,270 | 11,902 | 11,318 | |||
Goodwill (Note 11) | 4,064 | 4,064 | 4,064 | |||
Other noncurrent assets | 69 | 71 | 78 | |||
Total assets | 18,493 | 18,234 | 17,990 | |||
Current liabilities: | ' | ' | ' | |||
Short-term borrowings (Note 5) | 720 | 745 | 735 | |||
Long-term debt due currently (Note 6) | ' | 131 | 125 | |||
Trade accounts payable to nonaffiliates | 133 | 178 | 121 | |||
Amounts payable to members related to income taxes (Note 10) | 65 | 23 | 22 | |||
Accrued taxes other than amounts related to income | 145 | 169 | 153 | |||
Accrued interest | 65 | 95 | 95 | |||
Other current liabilities | 150 | 135 | 109 | |||
Total current liabilities | 1,914 | 1,476 | 1,360 | |||
Long-term debt, less amounts due currently (Note 6) | 5,041 | 5,381 | 5,400 | |||
Liability in lieu of deferred income taxes (Note 10) | 2,376 | 2,414 | 2,180 | |||
Other noncurrent liabilities and deferred credits (Note 11) | 1,578 | 1,554 | 1,746 | |||
Total liabilities | 10,909 | 10,825 | 10,686 | |||
Commitments and contingencies (Note 7) | ' | ' | ' | |||
Membership interests (Note 8): | ' | ' | ' | |||
Capital account - number of interests outstanding 2014 and 2013 - 635,000,000 | 7,631 | 7,457 | 7,335 | |||
Accumulated other comprehensive loss | -47 | -48 | -31 | |||
Total membership interests | 7,584 | 7,409 | 7,304 | |||
Total liabilities and membership interests | 18,493 | 18,234 | 17,990 | |||
Oncor [Member] | ' | ' | ' | |||
Current assets: | ' | ' | ' | |||
Regulatory assets - net (Note 4) | 975 | 1,098 | 1,453 | |||
Current liabilities: | ' | ' | ' | |||
Long-term debt due currently (Note 6) | 500 | [1] | ' | ' | ||
Long-term debt, less amounts due currently (Note 6) | 4,955 | [1] | 5,202 | [1],[2] | 5,090 | [2] |
Bondco [Member] | ' | ' | ' | |||
Current assets: | ' | ' | ' | |||
Regulatory assets - net (Note 4) | 136 | 226 | 335 | |||
Current liabilities: | ' | ' | ' | |||
Long-term debt due currently (Note 6) | 136 | [3] | 131 | [3] | 125 | [3] |
Long-term debt, less amounts due currently (Note 6) | $86 | [3] | $179 | [3] | $310 | [3] |
[1] | Secured by first priority lien on certain transmission and distribution assets equally and ratably with all of Oncor’s other secured indebtedness. See “Deed of Trust†in Note 6 to Financial Statements in our 2013 Form 10-K for additional information. | |||||
[2] | Secured by first priority lien on certain transmission and distribution assets equally and ratably with all of Oncor’s other secured indebtedness. See “Deed of Trust†below for additional information. | |||||
[3] | The transition bonds are nonrecourse to Oncor and were issued to securitize a regulatory asset. |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Consolidated Balance Sheets [Abstract] | ' | ' | ' | ' |
Capital account, interests outstanding | 635,000,000 | 635,000,000 | 635,000,000 | 635,000,000 |
Statements_Of_Consolidated_Mem
Statements Of Consolidated Membership Interests (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Capital account: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Balance at beginning of period | ' | $7,335 | ' | $7,212 | $7,457 | $7,335 | $7,335 | $7,212 | $6,990 | ||
Net income | 103 | 87 | 28 | [1] | 75 | [1] | 355 | 329 | 432 | 349 | 367 |
Distributions to members | ' | ' | ' | ' | ' | ' | -310 | -225 | -145 | ||
Sale of related-party agreements (net of tax benefit of $-, $1 and $-) (Note 11) | ' | ' | ' | ' | ' | ' | ' | -2 | ' | ||
Other | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ||
Balance at end of period (number of interests outstanding: 2013, 2012 and 2011 - 635 million) | 7,457 | ' | 7,335 | ' | ' | ' | 7,457 | 7,335 | 7,212 | ||
Accumulated other comprehensive income (loss) net of tax effects: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Balance at beginning of period | ' | -31 | ' | -31 | -48 | -31 | -31 | -31 | -2 | ||
Net effects of cash flow hedges (net of tax) | ' | ' | ' | ' | 2 | 3 | 2 | 3 | -29 | ||
Defined benefit pension plans | ' | ' | ' | ' | -1 | -1 | -19 | -3 | ' | ||
Balance at end of period | -48 | ' | -31 | ' | -47 | ' | -48 | -31 | -31 | ||
Total membership interests at end of period | $7,409 | ' | $7,304 | ' | ' | ' | $7,409 | $7,304 | $7,181 | ||
[1] | Fourth quarter 2012 reflects a $57 million pre-tax charge to expense associated with the SARs settlement (see Note 10). |
Statements_Of_Consolidated_Mem1
Statements Of Consolidated Membership Interests (Parenthetical) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statements Of Consolidated Membership Interest [Abstract] | ' | ' | ' |
Sale of related-party agreements, tax benefit | ' | $1 | ' |
Interests outstanding | 635,000,000 | 635,000,000 | 635,000,000 |
Net effects of cash flow hedges, tax expense (benefit) | 1 | 1 | -17 |
Defined benefit pension plans- net tax benefit | $11 | $1 | ' |
Business_And_Significant_Accou
Business And Significant Accounting Policies | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2014 | Dec. 31, 2013 | ||||
Business And Significant Accounting Policies [Abstract] | ' | ' | |||
BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES | ' | ' | |||
1. BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES | 1. DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES | ||||
Description of Business | Description of Business | ||||
References in this report to “we,” “our,” “us” and “the company” are to Oncor and/or its subsidiary as apparent in the context. See “Glossary” for definition of terms and abbreviations. | References in this report to “we,” “our,” “us” and “the company” are to Oncor and/or its subsidiary as apparent in the context. See “Glossary” for definition of terms and abbreviations. | ||||
We are a regulated electricity transmission and distribution company principally engaged in providing delivery services to REPs, including subsidiaries of TCEH, that sell power in the north-central, eastern and western parts of Texas. Revenues from TCEH represented 26% and 28% of our total operating revenues for the nine months ended September 30, 2014 and 2013, respectively. We are a direct, majority-owned subsidiary of Oncor Holdings, which is a direct, wholly-owned subsidiary of EFIH, a direct, wholly-owned subsidiary of EFH Corp. EFH Corp. is a subsidiary of Texas Holdings, which is controlled by the Sponsor Group. Oncor Holdings owns 80.03% of our membership interests, Texas Transmission owns 19.75% of our membership interests and certain members of our management team and board of directors indirectly own the remaining membership interests through Investment LLC. We are managed as an integrated business; consequently, there are no separate reportable business segments. | We are a regulated electricity transmission and distribution company principally engaged in providing delivery services to REPs, including subsidiaries of TCEH, that sell power in the north-central, eastern and western parts of Texas. Revenues from TCEH represented 27%, 29% and 33% of our total operating revenues for the years ended December 31, 2013, 2012 and 2011, respectively. We are a direct, majority-owned subsidiary of Oncor Holdings, which is a direct, wholly-owned subsidiary of EFIH, a direct, wholly-owned subsidiary of EFH Corp. EFH Corp. is a subsidiary of Texas Holdings, which is controlled by the Sponsor Group. Oncor Holdings owns 80.03% of our membership interests, Texas Transmission owns 19.75% of our membership interests and certain members of our management team and board of directors indirectly own the remaining membership interests through Investment LLC. We are managed as an integrated business; consequently, there are no separate reportable business segments. | ||||
Our consolidated financial statements include our wholly-owned, bankruptcy-remote financing subsidiary, Bondco, a variable interest entity. This financing subsidiary was organized for the limited purpose of issuing certain transition bonds in 2003 and 2004. Bondco issued $1.3 billion principal amount of transition bonds to recover generation-related regulatory asset stranded costs and other qualified costs under an order issued by the PUCT in 2002. | Our consolidated financial statements include our wholly-owned, bankruptcy-remote financing subsidiary, Bondco, a VIE (see Note 12). This financing subsidiary was organized for the limited purpose of issuing certain transition bonds to recover generation-related regulatory asset stranded costs and other qualified costs under an order issued by the PUCT in 2002. Bondco issued an aggregate $1.3 billion principal amount of transition bonds during 2003 and 2004. | ||||
Various “ring-fencing” measures have been taken to enhance the separateness between the Oncor Ring-Fenced Entities and the Texas Holdings Group and our credit quality. These measures serve to mitigate our and Oncor Holdings’ credit exposure to the Texas Holdings Group and to reduce the risk that our assets and liabilities or those of Oncor Holdings would be substantively consolidated with the assets and liabilities of the Texas Holdings Group in connection with a bankruptcy of one or more of those entities. Such measures include, among other things: our sale of a 19.75% equity interest to Texas Transmission in November 2008; maintenance of separate books and records for the Oncor Ring-Fenced Entities; our board of directors being comprised of a majority of independent directors; and prohibitions on the Oncor Ring-Fenced Entities providing credit support to, or receiving credit support from, any member of the Texas Holdings Group. The assets and liabilities of the Oncor Ring-Fenced Entities are separate and distinct from those of the Texas Holdings Group, including TXU Energy and Luminant, and none of the assets of the Oncor Ring-Fenced Entities are available to satisfy the debt or contractual obligations of any member of the Texas Holdings Group. We do not bear any liability for debt or contractual obligations of the Texas Holdings Group, and vice versa. Accordingly, our operations are conducted, and our cash flows are managed, independently from the Texas Holdings Group. | Various “ring-fencing” measures have been taken to enhance the separateness between the Oncor Ring-Fenced Entities and the Texas Holdings Group and our credit quality. These measures serve to mitigate our and Oncor Holdings’ credit exposure to the Texas Holdings Group and to reduce the risk that our assets and liabilities or those of Oncor Holdings would be substantively consolidated with the assets and liabilities of the Texas Holdings Group in the event of a bankruptcy of one or more of those entities. Such measures include, among other things: our sale of a 19.75% equity interest to Texas Transmission in November 2008; maintenance of separate books and records for the Oncor Ring-Fenced Entities; our board of directors being comprised of a majority of independent directors; and prohibitions on the Oncor Ring-Fenced Entities providing credit support to, or receiving credit support from, any member of the Texas Holdings Group. The assets and liabilities of the Oncor Ring-Fenced Entities are separate and distinct from those of the Texas Holdings Group, including TXU Energy and Luminant, and none of the assets of the Oncor Ring-Fenced Entities are available to satisfy the debt or contractual obligations of any member of the Texas Holdings Group. We do not bear any liability for debt or contractual obligations of the Texas Holdings Group, and vice versa. Accordingly, our operations are conducted, and our cash flows are managed, independently from the Texas Holdings Group. | ||||
EFH Corp. Bankruptcy Proceedings | As noted in SEC filings made by members of the Texas Holdings Group, EFH Corp. and other members of the Texas Holdings Group have engaged in discussions with certain unaffiliated creditors regarding certain of those entities’ capital structures and long-term liquidity, as well as possible restructuring transactions involving those entities. We believe the “ring-fencing” measures discussed above mitigate our exposure to a bankruptcy or other restructuring transaction involving members of the Texas Holdings Group. | ||||
On the EFH Petition Date, EFH Corp. and the substantial majority of its direct and indirect subsidiaries that are members of the Texas Holdings Group, including EFIH, EFCH and TCEH, commenced proceedings under Chapter 11 of the US Bankruptcy Code. The Oncor Ring-Fenced Entities are not parties to the EFH Bankruptcy Proceedings. We believe the “ring-fencing” measures discussed above mitigate our potential exposure to the EFH Bankruptcy Proceedings. See Note 2 for a discussion of the potential impacts of the EFH Bankruptcy Proceedings on our financial statements. | Basis of Presentation | ||||
Basis of Presentation | Our consolidated financial statements have been prepared in accordance with US GAAP and on the same basis as the audited financial statements in our Annual Report on Form 10-K for the year ended December 31, 2012. Adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the results of operations and financial position have been included therein. All intercompany items and transactions have been eliminated in consolidation. All dollar amounts in the financial statements and tables in the notes are stated in millions of US dollars unless otherwise indicated. | ||||
Our condensed consolidated financial statements have been prepared in accordance with US GAAP and on the same basis as the audited financial statements in our 2013 Form 10-K. Adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the results of operations and financial position have been included therein. All intercompany items and transactions have been eliminated in consolidation. Certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with US GAAP have been omitted pursuant to the rules and regulations of the SEC. Because the condensed consolidated interim financial statements do not include all of the information and footnotes required by US GAAP, they should be read in conjunction with the audited financial statements and related notes in our 2013 Form 10-K. The results of operations for an interim period may not give a true indication of results for a full year due to seasonality. All dollar amounts in the financial statements and tables in the notes are stated in millions of US dollars unless otherwise indicated. | Consolidation of Variable Interest Entities | ||||
Use of Estimates | A VIE is an entity with which we have a relationship or arrangement that indicates some level of control over the entity or results in economic risks to us. We consolidate a VIE if we have: a) the power to direct the significant activities of the VIE and b) the right or obligation to absorb profit and loss from the VIE (primary beneficiary). See Note 12. | ||||
Preparation of our financial statements requires management to make estimates and assumptions about future events that affect the reporting of assets and liabilities at the balance sheet dates and the reported amounts of revenue and expense, including fair value measurements. In the event estimates and/or assumptions prove to be different from actual amounts, adjustments are made in subsequent periods to reflect more current information. | Income Taxes | ||||
Derivative Instruments and Mark-to-Market Accounting | EFH Corp. files a consolidated federal income tax return. Effective with the November 2008 sale of equity interests to Texas Transmission and Investment LLC, we became a partnership for US federal income tax purposes, and subsequently we are not a member of EFH Corp.’s consolidated tax group and only EFH Corp.’s share of our partnership income is included in its consolidated federal income tax return. Our tax sharing agreement with Oncor Holdings and EFH Corp. was amended in November 2008 to include Texas Transmission and Investment LLC. The tax sharing agreement provides for the calculation of tax liability substantially as if we and Oncor Holdings were taxed as corporations, and requires tax payments to members determined on that basis (without duplication for any income taxes paid by a subsidiary of Oncor Holdings). Accordingly, while partnerships are not subject to income taxes, in consideration of the tax sharing agreement and the presentation of our financial statements as an entity subject to cost-based regulatory rate-setting processes, with such costs including income taxes, the financial statements present amounts determined under the tax sharing agreement as “provision in lieu of income taxes” and “liability in lieu of deferred income taxes” for periods subsequent to the sales of equity interests discussed in Note 3. | ||||
We have from time-to-time entered into derivative instruments to hedge interest rate risk. If the instrument meets the definition of a derivative under accounting standards related to derivative instruments and hedging activities, the fair value of each derivative is recognized on the balance sheet as a derivative asset or liability and changes in the fair value are recognized in net income, unless criteria for certain exceptions are met. This recognition is referred to as “mark-to-market” accounting. | Such amounts are determined in accordance with the provisions of accounting guidance for income taxes and for uncertainty in income taxes and thus differences between the book and tax bases of assets and liabilities are accounted for as if we were taxed as a corporation. The accounting guidance for rate-regulated enterprises requires the recognition of regulatory assets or liabilities if it is probable such deferred tax amounts will be recovered from, or returned to customers in future rates. Investment tax credits are amortized to income over the estimated lives of the related properties. | ||||
Reconcilable Tariffs | We classify interest and penalties expense related to uncertain tax positions as current provision in lieu of income taxes as discussed in Note 3. | ||||
The PUCT has designated certain tariffs (TCRF, EECRF surcharges, AMS surcharges and charges related to transition bonds) as reconcilable, which means the differences between amounts billed under these tariffs and the related incurred costs are deferred as either regulatory assets or regulatory liabilities. Accordingly, at prescribed intervals, future tariffs are adjusted to either repay regulatory liabilities or collect regulatory assets. | Use of Estimates | ||||
Contingencies | Preparation of our financial statements requires management to make estimates and assumptions about future events that affect the reporting of assets and liabilities at the balance sheet dates and the reported amounts of revenue and expense, including fair value measurements. In the event estimates and/or assumptions prove to be different from actual amounts, adjustments are made in subsequent periods to reflect more current information. No material adjustments were made to previous estimates or assumptions during the current year. | ||||
We evaluate and account for contingencies using the best information available. A loss contingency is accrued and disclosed when it is probable that an asset has been impaired or a liability incurred and the amount of the loss can be reasonably estimated. If a range of probable loss is established, the minimum amount in the range is accrued, unless some other amount within the range appears to be a better estimate. If the probable loss cannot be reasonably estimated, no accrual is recorded, but the loss contingency is disclosed to the effect that the probable loss cannot be reasonably estimated. A loss contingency will be disclosed when it is reasonably possible that an asset has been impaired or a liability incurred. If the likelihood that an impairment or incurrence is remote, the contingency is neither accrued nor disclosed. Gain contingencies are recognized upon realization. | Derivative Instruments and Mark-to-Market Accounting | ||||
Changes in Accounting Standards | We have from time-to-time entered into derivative instruments to hedge interest rate risk. If the instrument meets the definition of a derivative under accounting standards related to derivative instruments and hedging activities, the fair value of each derivative is recognized on the balance sheet as a derivative asset or liability and changes in the fair value are recognized in net income, unless criteria for certain exceptions are met. This recognition is referred to as “mark-to-market” accounting. | ||||
In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09 (ASU 2014-09), Revenue from Contracts with Customers. ASU 2014-09 introduces new, increased requirements for disclosure of revenue in financial statements and is intended to eliminate inconsistencies in revenue recognition and thereby improve financial reporting comparability across entities, industries and capital markets. ASU 2014-09 is effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2016 for public entities. Early application is not permitted. We are currently evaluating the potential impact of ASU 2014-09. The adoption of ASU 2014-09 is not expected to have a material effect on our reported results of operations, financial condition or cash flows. | |||||
Reconcilable Tariffs | |||||
The PUCT has designated certain tariffs (TCRF, EECRF surcharges, AMS surcharges and charges related to transition bonds) as reconcilable, which means the differences between amounts billed under these tariffs and the related incurred costs are deferred as either regulatory assets or regulatory liabilities. Accordingly, at prescribed intervals, future tariffs are adjusted to either repay regulatory liabilities or collect regulatory assets. | |||||
Revenue Recognition | |||||
Revenue includes an estimate for electricity delivery services provided from the billed meter reading date to the end of the period (unbilled revenue). For electricity delivery services billed on the basis of kWh volumes, unbilled revenue is based on data collected through our AMS. For other electricity delivery services, unbilled revenue is based on average daily revenues for the most recent period applied to the number of unmetered days through the end of the period. | |||||
Impairment of Long-Lived Assets and Goodwill | |||||
We evaluate long-lived assets (including intangible assets with finite lives) for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. | |||||
We also evaluate goodwill for impairment annually (at December 1) or whenever events or changes in circumstances indicate that an impairment may exist. | |||||
Goodwill impairment tests performed in 2013 and 2012 were based on determinations of enterprise value using discounted cash flow analyses, comparable company equity values and any relevant transactions indicative of enterprise values (quantitative assessment). The test performed in 2011 was based on a qualitative assessment in which we considered macroeconomic conditions, industry and market considerations, cost factors, overall financial performance and other relevant events. No impairments were recognized in 2013, 2012 or 2011. | |||||
System of Accounts | |||||
Our accounting records have been maintained in accordance with the FERC Uniform System of Accounts as adopted by the PUCT. | |||||
Defined Benefit Pension Plans and Other Postretirement Employee Benefit (OPEB) Plans | |||||
We have liabilities under pension plans that offer benefits based on either a traditional defined benefit formula or a cash balance formula and the OPEB Plan that offers certain health care and life insurance benefits to eligible employees and their eligible dependents upon the retirement of such employees from the company. Costs of pension and OPEB plans are dependent upon numerous factors, assumptions and estimates. In 2012, EFH Corp. made various changes to the EFH Retirement Plan, including splitting off into a new plan all of the assets and liabilities associated with Oncor employees and all retirees and terminated vested participants of EFH Corp. and its subsidiaries (including discontinued businesses). See Note 9 for additional information regarding the pension plans and the OPEB Plan. | |||||
Contingencies | |||||
We evaluate and account for contingencies using the best information available. A loss contingency is accrued and disclosed when it is probable that an asset has been impaired or a liability incurred and the amount of the loss can be reasonably estimated. If a range of probable loss is established, the minimum amount in the range is accrued, unless some other amount within the range appears to be a better estimate. If the probable loss cannot be reasonably estimated, no accrual is recorded, but the loss contingency is disclosed to the effect that the probable loss cannot be reasonably estimated. A loss contingency will be disclosed when it is reasonably possible that an asset has been impaired or a liability incurred. If the likelihood that an impairment or incurrence is remote, the contingency is neither accrued nor disclosed. Gain contingencies are recognized upon realization. | |||||
Fair Value of Nonderivative Financial Instruments | |||||
The carrying amounts for financial assets classified as current assets and the carrying amounts for financial liabilities classified as current liabilities approximate fair value due to the short maturity of such instruments. The fair values of other financial instruments, for which carrying amounts and fair values have not been presented, are not materially different than their related carrying amounts. The following discussion of fair value accounting standards applies primarily to our determination of the fair value of assets in the pension and OPEB plan trusts (see Note 9) and long-term debt (see Note 6). | |||||
Accounting standards related to the determination of fair value define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We use a “mid-market” valuation convention (the mid-point price between bid and ask prices) as a practical expedient to measure fair value for the majority of our assets and liabilities subject to fair value measurement on a recurring basis. We primarily use the market approach for recurring fair value measurements and use valuation techniques to maximize the use of observable inputs and minimize the use of unobservable inputs. | |||||
We categorize our assets and liabilities recorded at fair value based upon the following fair value hierarchy: | |||||
· | Level 1 valuations use quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date. An active market is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. | ||||
· | Level 2 valuations use inputs that, in the absence of actively quoted market prices, are observable for the asset or liability, either directly or indirectly. Level 2 inputs include: (a) quoted prices for similar assets or liabilities in active markets, (b) quoted prices for identical or similar assets or liabilities in markets that are not active, (c) inputs other than quoted prices that are observable for the asset or liability such as interest rates and yield curves observable at commonly quoted intervals and (d) inputs that are derived principally from or corroborated by observable market data by correlation or other means. Our Level 2 valuations utilize over-the-counter broker quotes, quoted prices for similar assets or liabilities that are corroborated by correlations or other mathematical means and other valuation inputs. | ||||
· | Level 3 valuations use unobservable inputs for the asset or liability. Unobservable inputs are used to the extent observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. We use the most meaningful information available from the market combined with internally developed valuation methodologies to develop our best estimate of fair value. | ||||
We utilize several different valuation techniques to measure the fair value of assets and liabilities, relying primarily on the market approach of using prices and other market information for identical and/or comparable assets and liabilities for those items that are measured on a recurring basis. | |||||
Franchise Taxes | |||||
Franchise taxes are assessed to us by local governmental bodies, based on kWh delivered and are the principal component of taxes other than amounts related to income taxes as reported in the income statement. Franchise taxes are not a “pass through” item. The rates we charge customers are intended to recover the franchise taxes, but we are not acting as an agent to collect the taxes from customers. | |||||
Cash and Cash Equivalents | |||||
For purposes of reporting cash and cash equivalents, temporary cash investments purchased with a remaining maturity of three months or less are considered to be cash equivalents. See Note 12 for details regarding restricted cash. | |||||
Property, Plant and Equipment | |||||
Properties are stated at original cost. The cost of self-constructed property additions includes materials and both direct and indirect labor and applicable overhead and an allowance for funds used during construction. | |||||
Depreciation of property, plant and equipment is calculated on a straight-line basis over the estimated service lives of the properties based on depreciation rates approved by the PUCT. As is common in the industry, depreciation expense is recorded using composite depreciation rates that reflect blended estimates of the lives of major asset groups as compared to depreciation expense calculated on a component asset-by-asset basis. Depreciation rates include plant removal costs as a component of depreciation expense, consistent with regulatory treatment. Actual removal costs incurred are charged to accumulated depreciation. When accrued removal costs exceed incurred removal costs, the difference is reclassified as a regulatory obligation to retire assets in the future. | |||||
Allowance for Funds Used During Construction (AFUDC) | |||||
AFUDC is a regulatory cost accounting procedure whereby both interest charges on borrowed funds and a return on equity capital used to finance construction are included in the recorded cost of utility plant and equipment being constructed. AFUDC is capitalized on all projects involving construction periods lasting greater than thirty days. The equity portion of capitalized AFUDC is accounted for as other income. We recorded $1 million of equity AFUDC in the year ended December 31, 2012 and none in the years ended December 31, 2013 and 2011. See Note 12 for detail of amounts charged to interest expense. | |||||
Regulatory Assets and Liabilities | |||||
Our financial statements reflect regulatory assets and liabilities under cost-based rate regulation in accordance with accounting standards related to the effect of certain types of regulation. Regulatory decisions can have an impact on the recovery of costs, the rate earned on invested capital and the timing and amount of assets to be recovered by rates. See Note 4 for details of regulatory assets and liabilities. | |||||
EFH_Bankruptcy_Proceedings
EFH Bankruptcy Proceedings | 9 Months Ended |
Sep. 30, 2014 | |
EFH Bankruptcy Proceedings [Abstract] | ' |
EFH BANKRUPTCY PROCEEDINGS | ' |
2. EFH BANKRUPTCY PROCEEDINGS | |
On the EFH Petition Date, EFH Corp. and the substantial majority of its direct and indirect subsidiaries that are members of the Texas Holdings Group, including EFIH, EFCH and TCEH, commenced proceedings under Chapter 11 of the US Bankruptcy Code. The Oncor Ring-Fenced Entities are not parties to the EFH Bankruptcy Proceedings. We believe the “ring-fencing” measures discussed above mitigate our potential exposure to the EFH Bankruptcy Proceedings. | |
The US Bankruptcy Code automatically enjoined, or stayed, us from judicial or administrative proceedings or filing of other actions against our affiliates or their property to recover, collect or secure our claims arising prior to the EFH Petition Date. Following the EFH Petition Date, EFH Corp. received approval from the bankruptcy court to pay or otherwise honor certain prepetition obligations generally designed to stabilize its operations. Included in the approval were the obligations owed to us representing our prepetition electricity delivery fees. As of the EFH Petition Date, we estimated that our receivables from the Texas Holdings Group totaled approximately $129 million. Since that time, we have collected $127 million of the prepetition amount. We estimate any potential pre-tax loss resulting from the EFH Bankruptcy Proceedings to be immaterial. As such, a provision for uncollectible accounts from affiliates had not been established as of September 30, 2014. | |
The EFH Bankruptcy Proceedings are a complex litigation matter and the full extent of potential exposure at this time is unknown. Bankruptcy courts have broad equitable powers, and as a result, outcomes in bankruptcy proceedings are inherently difficult to predict. We will continue to evaluate our affiliate transactions and contingencies throughout the EFH Bankruptcy Proceedings to determine any risks and resulting impacts on our financial statements. EFH Corp. has been exploring various options regarding potential transactions that could be deemed to implicate a regulatory review. We have made some preliminary preparations for potential change in control filings, including discussions with EFH Corp. and others, in light of the proposals in the EFH Bankruptcy Proceedings, but cannot predict the result of any transaction or review. | |
See Note 10 for details of our related-party transactions with members of the Texas Holdings Group. | |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Taxes [Abstract] | ' | ||||||||
INCOME TAXES | ' | ||||||||
3. INCOME TAXES | |||||||||
The components of our reported provision (benefit) in lieu of income taxes are as follows: | |||||||||
Year Ended December 31, | |||||||||
2013 | 2012 | 2011 | |||||||
Reported in operating expenses: | |||||||||
Current: | |||||||||
US federal | $ | 51 | $ | 23 | $ | -55 | |||
State | 12 | 21 | 21 | ||||||
Deferred: | |||||||||
US federal | 181 | 200 | 248 | ||||||
State | 6 | - | - | ||||||
Amortization of investment tax credits | -3 | -4 | -5 | ||||||
Total reported in operating expenses | 247 | 240 | 209 | ||||||
Reported in other income and deductions: | |||||||||
Current: | |||||||||
US federal | -5 | -14 | 9 | ||||||
State | - | - | 1 | ||||||
Deferred federal | 7 | 8 | 10 | ||||||
Total reported in other income and deductions | 2 | -6 | 20 | ||||||
Total provision in lieu of income taxes | $ | 249 | $ | 234 | $ | 229 | |||
Reconciliation of provision in lieu of income taxes computed at the US federal statutory rate to provision in lieu of income taxes: | |||||||||
Year Ended December 31, | |||||||||
2013 | 2012 | 2011 | |||||||
Income before provision in lieu of income taxes | $ | 681 | $ | 583 | $ | 596 | |||
Provision in lieu of income taxes at the US federal statutory rate of 35% | $ | 238 | $ | 204 | $ | 209 | |||
Amortization of investment tax credits – net of deferred tax effect | -3 | -4 | -5 | ||||||
Amortization (under regulatory accounting) of statutory tax rate changes | -2 | -3 | -3 | ||||||
Amortization of Medicare subsidy regulatory asset | 14 | 14 | - | ||||||
Texas margin tax, net of federal tax benefit | 15 | 14 | 14 | ||||||
Nondeductible losses (gains) on benefit plan investments | -3 | -2 | -1 | ||||||
Other, including audit settlements | -10 | 11 | 15 | ||||||
Reported provision in lieu of income taxes | $ | 249 | $ | 234 | $ | 229 | |||
Effective rate | 36.6% | 40.1% | 38.4% | ||||||
The net amounts of $2.414 billion and $2.180 billion reported in the balance sheets at December 31, 2013 and 2012, respectively, as liability in lieu of deferred income taxes include amounts previously recorded as net deferred tax liabilities. Upon the sale of equity interests to Texas Transmission and Investment LLC in 2008, we became a partnership for US federal income tax purposes, and the temporary differences that gave rise to the deferred taxes will, over time, become taxable to the equity holders. Under a tax sharing agreement among us and our equity holders (see Note 1), we make payments to the equity holders for income taxes as the partnership earnings become taxable to the equity holders. Accordingly, as the temporary differences become taxable, we will pay the equity holders. In the unlikely event such amounts are not paid under the tax sharing agreement, it is probable that they would be reimbursed to rate payers. | |||||||||
At December 31, 2013 and 2012, we had $21 million and $52 million of alternative minimum tax (AMT) credit carryforwards, respectively, available to offset future tax sharing payments. The AMT credit carryforwards have no expiration date. At December 31, 2013, we had $162 million of net operating loss (NOL) carryforwards for federal income tax purposes that expire between 2028 and 2030. The NOL carryforwards relate to tax years under audit and can be used to offset future taxable income once the audits are complete. We expect to use all of our NOL carryforwards prior to their expiration date. | |||||||||
Accounting For Uncertainty in Income Taxes | |||||||||
Prior to November 2008, we were a member of the EFH Corp. consolidated tax group. Effective with the November 2008 sale of equity interests to Texas Transmission and Investment LLC, we became a partnership for US federal income tax purposes. EFH Corp. and its subsidiaries file or have filed income tax returns in US federal, state and foreign jurisdictions and are subject to examinations by the IRS and other taxing authorities. Examinations of EFH Corp. and its subsidiaries’ income tax returns for the years ending prior to January 1, 2007 are complete, but the tax years 2003 through 2006 remain in appeals with the IRS. Texas franchise and margin tax returns are under examination or still open for examination for tax years beginning after 2006. Subsequent to November 2008, we are not a member of the EFH Corp. consolidated tax group and assess our liability for uncertain tax positions in our partnership returns. | |||||||||
We have been advised by EFH Corp. that approval by the Joint Committee on Taxation for the 1997 through 2002 IRS appeals settlement was received in May 2013 and that all issues contested have been resolved. As a result, the liability for uncertain tax positions was reduced by $32 million in the second quarter of 2013. This resolution also resulted in a $10 million net reduction to liability in lieu of deferred income taxes and a reversal of accrued interest and tax totaling $5 million ($3 million after tax), which is reported as a decrease in provision in lieu of income taxes. We made a cash payment of $33 million to EFH Corp. in the third quarter of 2013, as required under the tax sharing agreement, to settle the liability resulting from the 1997 through 2002 IRS audit, and received a $10 million refund from EFH Corp. as a result of filing amended Texas franchise tax returns for 1997 through 2001. | |||||||||
The IRS audit for the years 2003 through 2006 was concluded in June 2011. A significant number of adjustments to the originally filed returns for such years were proposed. In March 2013, EFH Corp. and the IRS agreed on terms to resolve the disputed adjustments. In the first quarter of 2013, we reduced the liability for uncertain tax positions by $76 million to reflect the terms of the agreement. This reduction consisted of a $58 million increase to liability in lieu of deferred income taxes and a reversal of accrued interest and tax totaling $18 million ($12 million after tax), which is reported as a decrease in provision in lieu of income taxes. In the fourth quarter of 2013, the 2003 through 2006 state tax positions were remeasured, which resulted in a net reversal of accrued interest and tax totaling $3 million. Any cash income tax impact related to the conclusion of the 2003 through 2006 audit is expected to be immaterial. | |||||||||
The following table summarizes the changes to the uncertain tax positions, reported in other noncurrent liabilities in our consolidated balance sheet, during the years ended December 31, 2013, 2012 and 2011: | |||||||||
2013 | 2012 | 2011 | |||||||
Balance at January 1, excluding interest and penalties | $ | 144 | $ | 126 | $ | 82 | |||
Additions based on tax positions related to prior years | - | 18 | 44 | ||||||
Reductions based on tax positions related to prior years (a) | -66 | - | - | ||||||
Reduction related to 1997-2002 IRS appeals settlement | -24 | - | - | ||||||
Balance at December 31, excluding interest and penalties | $ | 54 | $ | 144 | $ | 126 | |||
_________ | |||||||||
(a)Includes IRS audit for the years 2003 through 2006. | |||||||||
Of the balances at December 31, 2013 and 2012, $51 million and $133 million, respectively, represent tax positions for which the uncertainty relates to the timing of recognition for tax purposes. The disallowance of such positions would not affect the effective tax rate, but would accelerate the payment of cash under the tax sharing agreement to an earlier period. | |||||||||
Noncurrent liabilities included a total of $2 million and $25 million in accrued interest at December 31, 2013 and 2012, respectively. Amounts recorded related to interest and penalties totaled a benefit of $15 million in the year ended December 31, 2013 and an expense of $3 million and $2 million in the years ended December 31, 2012 and 2011, respectively (all amounts after tax). The federal income tax benefit on the interest accrued on uncertain tax positions is recorded as liability in lieu of deferred income taxes. | |||||||||
With respect to tax positions for which the ultimate deductibility is uncertain (permanent items), should EFH Corp. or we sustain such positions on income tax returns previously filed, our liabilities recorded would be reduced by $3 million, resulting in increased net income and a favorable impact on the effective tax rate. | |||||||||
Regulatory_Matters
Regulatory Matters | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Dec. 31, 2013 | |
Regulatory Matters [Abstract] | ' | ' |
REGULATORY MATTERS | ' | ' |
3. REGULATORY MATTERS | 2. REGULATORY MATTERS | |
2008 Rate Review | 2008 Rate Review | |
In August 2009, the PUCT issued a final order with respect to our June 2008 rate review filing with the PUCT and 204 cities based on a test year ended December 31, 2007 (PUCT Docket No. 35717), and new rates were implemented in September 2009. We and four other parties appealed various portions of the rate review final order to a state district court. In January 2011, the district court signed its judgment reversing the PUCT with respect to two issues: the PUCT’s disallowance of certain franchise fees and the PUCT’s decision that PURA no longer requires imposition of a rate discount for state colleges and universities. We filed an appeal with the Texas Third Court of Appeals (Austin Court of Appeals) in February 2011 with respect to the issues we appealed to the district court and did not prevail upon, as well as the district court’s decision to reverse the PUCT with respect to discounts for state colleges and universities. On August 6, 2014, the Austin Court of Appeals reversed the district court and affirmed the PUCT with respect to the PUCT’s disallowance of certain franchise fees and the PUCT’s decision that PURA no longer requires imposition of a rate discount for state colleges and universities. The Austin Court of Appeals also reversed the PUCT and district court’s rejection of a proposed consolidated tax savings adjustment arising out of EFH Corp.’s ability to offset our taxable income against losses from other investments. The Austin Court of Appeals has remanded the issue to the PUCT to determine the amount of the consolidated tax savings adjustment. On August 21, 2014, we filed a motion on rehearing with the Austin Court of Appeals with respect to certain appeal issues on which we were not successful, including the consolidated tax savings adjustment. We are unable to predict the outcome of this motion on rehearing and our appeal efforts, and there is no deadline for the Austin Court of Appeals to act. If our appeals efforts are unsuccessful and the proposed consolidated tax savings adjustment is implemented, we estimate that on remand, the impact on earnings of the consolidated tax savings adjustment’s value could range from zero, as originally determined by the PUCT in Docket 35717, to a $130 million loss (after tax). We do not believe that any of the other issues ruled upon by the Austin Court of Appeals would result in a material impact to our results of operations or financial condition. | In August 2009, the PUCT issued a final order with respect to our June 2008 rate review filing with the PUCT and 204 cities based on a test year ended December 31, 2007 (PUCT Docket No. 35717), and new rates were implemented in September 2009. In November 2009, the PUCT issued an order on rehearing that established a new rate class but did not change the revenue requirements. We and four other parties appealed various portions of the rate review final order to a state district court. In January 2011, the district court signed its judgment reversing the PUCT with respect to two issues: the PUCT’s disallowance of certain franchise fees and the PUCT’s decision that PURA no longer requires imposition of a rate discount for state colleges and universities. We filed an appeal with the Texas Third Court of Appeals (Austin Court of Appeals) in February 2011 with respect to the issues we appealed to the district court and did not prevail upon, as well as the district court’s decision to reverse the PUCT with respect to discounts for state colleges and universities. Oral argument before the Austin Court of Appeals was completed in April 2012. There is no deadline for the court to act. We are unable to predict the outcome of the appeal. | |
See Note 2 to Financial Statements in our 2013 Form 10-K for additional information regarding regulatory matters. | We are involved in various other regulatory proceedings in the normal course of business, the ultimate resolution of which, in the opinion of management, should not have a material effect upon our financial position, results of operations or cash flows. | |
Regulatory_Assets_and_Liabilit
Regulatory Assets and Liabilities | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||
Regulatory Assets and Liabilities [Abstract] | ' | ' | ||||||||||||||||
REGULATORY ASSETS AND LIABILITIES | ' | ' | ||||||||||||||||
4. REGULATORY ASSETS AND LIABILITIES | 4. REGULATORY ASSETS AND LIABILITIES | |||||||||||||||||
Recognition of regulatory assets and liabilities and the amortization periods over which they are expected to be recovered or refunded through rate regulation reflect the decisions of the PUCT. Components of the regulatory assets and liabilities are provided in the table below. Amounts not earning a return through rate regulation are noted. | Recognition of regulatory assets and liabilities and the amortization periods over which they are expected to be recovered or refunded through rate regulation reflect the decisions of the PUCT. Components of the regulatory assets and liabilities are provided in the table below. Amounts not earning a return through rate regulation are noted. | |||||||||||||||||
Remaining Rate Recovery/Amortization Period at | Carrying Amount At | |||||||||||||||||
Remaining Rate Recovery/Amortization Period at | Carrying Amount At | 31-Dec-13 | 31-Dec-13 | 31-Dec-12 | ||||||||||||||
30-Sep-14 | 30-Sep-14 | 31-Dec-13 | Regulatory assets: | |||||||||||||||
Generation-related regulatory assets securitized | 2 years | $ | 281 | $ | 409 | |||||||||||||
Regulatory assets: | by transition bonds (a)(e) | |||||||||||||||||
Generation-related regulatory assets securitized by transition bonds (a)(e) | 2 years | $ | 183 | $ | 281 | Employee retirement costs | 6 years | 71 | 87 | |||||||||
Employee retirement costs | 5 years | 59 | 71 | Employee retirement costs to be reviewed (b)(c) | To be determined | 224 | 186 | |||||||||||
Employee retirement costs to be reviewed (b)(c) | To be determined | 241 | 224 | Employee retirement liability (a)(c)(d) | To be determined | 491 | 738 | |||||||||||
Employee retirement liability (a)(c)(d) | To be determined | 520 | 491 | Self-insurance reserve (primarily storm recovery | 6 years | 158 | 190 | |||||||||||
Self-insurance reserve (primarily storm recovery costs) ― net | 5 years | 135 | 158 | costs) ― net | ||||||||||||||
Self-insurance reserve to be reviewed ― net (b)(c) | To be determined | 206 | 196 | Self-insurance reserve to be reviewed (b)(c) | To be determined | 196 | 128 | |||||||||||
Securities reacquisition costs (pre-industry restructure) | 3 years | 26 | 32 | Securities reacquisition costs (pre-industry restructure) | 3 years | 32 | 41 | |||||||||||
Securities reacquisition costs (post-industry restructure) ― net | Terms of related debt | 6 | 5 | Securities reacquisition costs | Terms of related debt | 5 | 22 | |||||||||||
Recoverable amounts in lieu of deferred | Life of related asset or liability | 19 | 42 | (post-industry restructure) ― net | ||||||||||||||
income taxes ― net | Recoverable amounts in lieu of deferred | Life of related asset or liability | 42 | 71 | ||||||||||||||
Rate review expenses (a) | Various | 4 | 4 | income taxes ― net | ||||||||||||||
Advanced meter customer education costs | 5 years | 7 | 8 | Rate review expenses (a) | Largely 2 years | 4 | 6 | |||||||||||
Deferred conventional meter and metering | Largely 6 years | 129 | 146 | Advanced meter customer education costs | 6 years | 8 | 10 | |||||||||||
facilities depreciation | Deferred conventional meter and metering | Largely 7 years | 146 | 152 | ||||||||||||||
Deferred AMS costs | To be determined | 101 | 62 | facilities depreciation | ||||||||||||||
Energy efficiency performance bonus (a) | 1 year | 25 | 12 | Deferred AMS costs | 6 years | 62 | 2 | |||||||||||
Under-recovered wholesale transmission | 1 year | 18 | 37 | Energy efficiency performance bonus (a) | 1 year | 12 | 9 | |||||||||||
service expense ― net (a) | Under-recovered wholesale transmission | 1 year | 37 | 40 | ||||||||||||||
Other regulatory assets | Various | 2 | 2 | service expense ― net (a) | ||||||||||||||
Total regulatory assets | 1,681 | 1,771 | Energy efficiency programs (a) | Not applicable | - | 1 | ||||||||||||
Regulatory liabilities: | Other regulatory assets | Various | 2 | 1 | ||||||||||||||
Estimated net removal costs | Life of utility plant | 495 | 385 | Total regulatory assets | 1,771 | 2,093 | ||||||||||||
Investment tax credit and protected excess | Various | 18 | 23 | Regulatory liabilities: | ||||||||||||||
deferred taxes | Estimated net removal costs | Life of utility plant | 385 | 244 | ||||||||||||||
Over-collection of transition bond revenues (a)(e) | 2 years | 37 | 35 | Investment tax credit and protected excess | Various | 23 | 28 | |||||||||||
Energy efficiency programs (a) | Not applicable | 20 | 4 | deferred taxes | ||||||||||||||
Total regulatory liabilities | 570 | 447 | Over-collection of transition bond revenues (a)(e) | 2 years | 35 | 33 | ||||||||||||
Net regulatory asset | $ | 1,111 | $ | 1,324 | Energy efficiency programs (a) | Not applicable | 4 | - | ||||||||||
Total regulatory liabilities | 447 | 305 | ||||||||||||||||
____________ | Net regulatory asset | $ | 1,324 | $ | 1,788 | |||||||||||||
(a) | Not earning a return in the regulatory rate-setting process. | ____________ | ||||||||||||||||
(b) | Costs incurred since the period covered under the last rate review. | (a) | Not earning a return in the regulatory rate-setting process. | |||||||||||||||
(c) | Recovery is specifically authorized by statute or by the PUCT, subject to reasonableness review. | (b) | Costs incurred since the period covered under the last rate review. | |||||||||||||||
(d) | Represents unfunded liabilities recorded in accordance with pension and OPEB accounting standards. | (c) | Recovery is specifically authorized by statute or by the PUCT, subject to reasonableness review. | |||||||||||||||
(e) | Bondco net regulatory assets of $136 million at September 30, 2014 consisted of $173 million included in generation-related regulatory assets net of the regulatory liability for over-collection of transition bond revenues of $37 million. Bondco net regulatory assets of $226 million at December 31, 2013 consisted of $261 million included in generation-related regulatory assets net of the regulatory liability for over-collection of transition bond revenues of $35 million. | (d) | Represents unfunded liabilities recorded in accordance with pension and OPEB accounting standards. | |||||||||||||||
(e) | Bondco net regulatory assets of $226 million at December 31, 2013 consisted of $261 million included in generation-related regulatory assets net of the regulatory liability for over-collection of transition bond revenues of $35 million. Bondco net regulatory assets of $335 million at December 31, 2012 consisted of $368 million included in generation-related regulatory assets net of the regulatory liability for over-collection of transition bond revenues of $33 million. | |||||||||||||||||
In August 2011, the PUCT issued a final order in our rate review filed in January 2011. The rate review included a determination of the recoverability of regulatory assets at June 30, 2010, including the recoverability period of those assets deemed allowable by the PUCT. | ||||||||||||||||||
In accordance with the PUCT’s August 2009 order in our rate review, the remaining net book value and the approved amount of removal cost of existing conventional meters that were replaced by advanced meters are being charged to depreciation and amortization expense over an 11-year cost recovery period. | ||||||||||||||||||
In September 2008, the PUCT approved a settlement for us to recover our estimated future investment for advanced metering deployment. We began billing the AMS surcharge in the January 2009 billing month cycle. The surcharge is expected to total $1.023 billion over the 11-year recovery period and includes a cost recovery factor of $2.19 per month per residential retail customer and $2.39 to $5.15 per month for non-residential retail customers. We account for the difference between the surcharge billings for advanced metering facilities and the allowable revenues under the surcharge provisions, which are based on expenditures and an allowed return, as a regulatory asset or liability. Such differences arise principally as a result of timing of expenditures. As indicated in the table above, the regulatory asset at December 31, 2013 and 2012 totaled $62 million and $2 million, respectively. | ||||||||||||||||||
As a result of purchase accounting, in 2007 the carrying value of certain generation-related regulatory assets securitized by transition bonds, which have been reviewed and approved by the PUCT for recovery but without earning a rate of return, was reduced by $213 million. This amount will be accreted to other income over the recovery period remaining at October 10, 2007 (approximately nine years). | ||||||||||||||||||
See Note 11 for information regarding nuclear decommissioning cost recovery. | ||||||||||||||||||
Borrowings_Under_Credit_Facili
Borrowings Under Credit Facilities | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Dec. 31, 2013 | |
Borrowings Under Credit Facilities And Long-Term Debt [Abstract] | ' | ' |
BORROWINGS UNDER CREDIT FACILITIES | ' | ' |
5. BORROWINGS UNDER CREDIT FACILITIES | 5. BORROWINGS UNDER CREDIT FACILITIES | |
At June 30, 2014, we had a $2.4 billion secured revolving credit facility to be used for working capital and general corporate purposes, issuances of letters of credit and support for any commercial paper issuances. The revolving credit facility expires in October 2016, and we have the option of requesting up to two one-year extensions, with such extensions subject to certain conditions and lender approval. The terms of the revolving credit facility allow us to request an additional increase in our borrowing capacity of $100 million, provided certain conditions are met, including lender approval. | At December 31, 2013, we had a $2.4 billion secured revolving credit facility to be used for working capital and general corporate purposes, issuances of letters of credit and support for any commercial paper issuances. The revolving credit facility expires in October 2016, and we have the option of requesting up to two one-year extensions, with such extensions subject to certain conditions and lender approval. The terms of the revolving credit facility allow us to request an additional increase in our borrowing capacity of $100 million, provided certain conditions are met, including lender approval. | |
Borrowings under the revolving credit facility are classified as short-term on the balance sheet and are secured equally and ratably with all of our other secured indebtedness by a first priority lien on property we acquired or constructed for the transmission and distribution of electricity. The property is mortgaged under the Deed of Trust. | Borrowings under the revolving credit facility are classified as short-term on the balance sheet and are secured equally and ratably with all of our other secured indebtedness by a first priority lien on property we acquired or constructed for the transmission and distribution of electricity. The property is mortgaged under the Deed of Trust. | |
At September 30, 2014, we had outstanding borrowings under the revolving credit facility totaling $720 million with an interest rate of 1.28% and outstanding letters of credit totaling $7 million. At December 31, 2013, we had outstanding borrowings under the revolving credit facility totaling $745 million with an interest rate of 1.67% and outstanding letters of credit totaling $6 million. | At December 31, 2013, we had outstanding borrowings under the revolving credit facility totaling $745 million with an interest rate of 1.67% and outstanding letters of credit totaling $6 million. At December 31, 2012, we had outstanding borrowings under the revolving credit facility totaling $735 million with an interest rate of 1.46% and outstanding letters of credit totaling $6 million. | |
Borrowings under the revolving credit facility bear interest at per annum rates equal to, at our option, (i) LIBOR plus a spread ranging from 1.00% to 1.75% depending on credit ratings assigned to our senior secured non-credit enhanced long-term debt or (ii) an alternate base rate (the highest of (1) the prime rate of JPMorgan Chase, (2) the federal funds effective rate plus 0.50%, and (3) daily one-month LIBOR plus 1.00%) plus a spread ranging from 0.00% to 0.75% depending on credit ratings assigned to our senior secured non-credit enhanced long-term debt. At September 30, 2014, all outstanding borrowings bore interest at LIBOR plus 1.125%. Amounts borrowed under the revolving credit facility, once repaid, can be borrowed again from time to time. | Borrowings under the revolving credit facility bear interest at per annum rates equal to, at our option, (i) LIBOR plus a spread ranging from 1.00% to 1.75% depending on credit ratings assigned to our senior secured non-credit enhanced long-term debt or (ii) an alternate base rate (the highest of (1) the prime rate of JPMorgan Chase, (2) the federal funds effective rate plus 0.50%, and (3) daily one-month LIBOR plus 1.00%) plus a spread ranging from 0.00% to 0.75% depending on credit ratings assigned to our senior secured non-credit enhanced long-term debt. At December 31, 2013, all outstanding borrowings bore interest at LIBOR plus 1.50%. Amounts borrowed under the facility, once repaid, can be borrowed again from time to time. | |
An unused commitment fee is payable quarterly in arrears and upon termination or commitment reduction at a rate equal to 0.100% to 0.275% (such spread depending on certain credit ratings assigned to our senior secured debt) of the daily unused commitments under the revolving credit facility. Letter of credit fees on the stated amount of letters of credit issued under the revolving credit facility are payable to the lenders quarterly in arrears and upon termination at a rate per annum equal to the spread over adjusted LIBOR. Customary fronting and administrative fees are also payable to letter of credit fronting banks. At September 30, 2014, letters of credit bore interest at 1.325%, and a commitment fee (at a rate of 0.125% per annum) was payable on the unfunded commitments under the revolving credit facility, each based on our current credit ratings. | An unused commitment fee is payable quarterly in arrears and upon termination or commitment reduction at a rate equal to 0.100% to 0.275% (such spread depending on certain credit ratings assigned to our senior secured debt) of the daily unused commitments under the revolving credit facility. Letter of credit fees on the stated amount of letters of credit issued under the revolving credit facility are payable to the lenders quarterly in arrears and upon termination at a rate per annum equal to the spread over adjusted LIBOR. Customary fronting and administrative fees are also payable to letter of credit fronting banks. At December 31, 2013, letters of credit bore interest at 1.70%, and a commitment fee (at a rate of 0.225% per annum) was payable on the unfunded commitments under the facility, each based on our current credit ratings. | |
Subject to the limitations described below, borrowing capacity available under the revolving credit facility at June 30, 2014 and December 31, 2013 was $1.673 billion and $1.649 billion, respectively. Generally, our indentures and revolving credit facility limit the incurrence of other secured indebtedness except for indebtedness secured equally and ratably with the indentures and revolving credit facility and certain permitted exceptions. As described further in Note 6 to Financial Statements in our 2013 Form 10-K, the Deed of Trust permits us to secure indebtedness (including borrowings under our revolving credit facility) with the lien of the Deed of Trust up to the aggregate of (i) the amount of available bond credits, and (ii) 85% of the lower of the fair value or cost of certain property additions that have been certified to the Deed of Trust collateral agent. At September 30, 2014, the available bond credits were approximately $2.199 billion and the amount of additional potential indebtedness that could be secured by property additions, subject to a certification process, was $1.407 billion. At September 30, 2014, the available borrowing capacity of the revolving credit facility could be fully drawn. | Subject to the limitations described below, borrowing capacity available under the credit facility at December 31, 2013 and 2012 was $1.649 billion and $1.659 billion, respectively. Generally, our indentures and revolving credit facility limit the incurrence of other secured indebtedness except for indebtedness secured equally and ratably with the indentures and revolving credit facility and certain permitted exceptions. As described further in Note 6, the Deed of Trust permits us to secure indebtedness (including borrowings under our revolving credit facility) with the lien of the Deed of Trust up to the aggregate of (i) the amount of available bond credits, and (ii) 85% of the lower of the fair value or cost of certain property additions that have been certified to the Deed of Trust collateral agent. At December 31, 2013, the available bond credits were approximately $2.176 billion and the amount of additional potential indebtedness that could be secured by property additions, subject to a certification process, was $1.173 billion. At December 31, 2013, the available borrowing capacity of the revolving credit facility could be fully drawn. | |
The revolving credit facility contains customary covenants for facilities of this type, restricting, subject to certain exceptions, us and our subsidiaries from, among other things: incurring additional liens; entering into mergers and consolidations; and sales of substantial assets. In addition, the revolving credit facility requires that we maintain a consolidated senior debt-to-capitalization ratio of no greater than 0.65 to 1.00 and observe certain customary reporting requirements and other affirmative covenants. For purposes of the ratio, debt is calculated as indebtedness defined in the revolving credit facility (principally, the sum of long-term debt, any capital leases, short-term debt and debt due currently in accordance with US GAAP). The debt calculation excludes transition bonds issued by Bondco, but includes the unamortized fair value discount related to Bondco. Capitalization is calculated as membership interests determined in accordance with US GAAP plus indebtedness described above. At September 30, 2014, we were in compliance with this covenant and with all other covenants. | The revolving credit facility contains customary covenants for facilities of this type, restricting, subject to certain exceptions, us and our subsidiaries from, among other things: incurring additional liens; entering into mergers and consolidations; and sales of substantial assets. In addition, the revolving credit facility requires that we maintain a consolidated senior debt-to-capitalization ratio of no greater than 0.65 to 1.00 and observe certain customary reporting requirements and other affirmative covenants. For purposes of the ratio, debt is calculated as indebtedness defined in the revolving credit facility (principally, the sum of long-term debt, any capital leases, short-term debt and debt due currently in accordance with US GAAP). The debt calculation excludes transition bonds issued by Bondco, but includes the unamortized fair value discount related to Bondco. Capitalization is calculated as membership interests determined in accordance with US GAAP plus indebtedness described above. At December 31, 2013, we were in compliance with this covenant with a debt-to-capitalization ratio of 0.45 to 1.00 and with all other covenants. | |
The revolving credit facility also contains customary events of default for facilities of this type, the occurrence of which would allow the lenders to accelerate all outstanding loans and terminate their commitments, including certain changes in control that are not permitted transactions, cross-default provisions in the event we or any of our subsidiaries (other than Bondco) defaults on indebtedness in a principal amount in excess of $100 million or receives judgments for the payment of money in excess of $50 million that are not discharged within 60 days. | ||
LongTerm_Debt
Long-Term Debt | 9 Months Ended | 12 Months Ended | |||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | ||||||||||||
Borrowings Under Credit Facilities And Long-Term Debt [Abstract] | ' | ' | |||||||||||
LONG-TERM DEBT | ' | ' | |||||||||||
6. LONG-TERM DEBT | 6. LONG-TERM DEBT | ||||||||||||
At September 30, 2014 and December 31, 2013, our long-term debt consisted of the following: | At December 31, 2013 and 2012, our long-term debt consisted of the following: | ||||||||||||
September 30, | December 31, | December 31, | |||||||||||
2014 | 2013 | 2013 | 2012 | ||||||||||
Oncor (a): | |||||||||||||
Oncor (a): | 6.375% Fixed Senior Notes due January 15, 2015 | $ | 500 | $ | 500 | ||||||||
6.375% Fixed Senior Notes due January 15, 2015 | $ | 500 | $ | 500 | 5.000% Fixed Senior Notes due September 30, 2017 | 324 | 324 | ||||||
5.000% Fixed Senior Notes due September 30, 2017 | 324 | 324 | 6.800% Fixed Senior Notes due September 1, 2018 | 550 | 550 | ||||||||
6.800% Fixed Senior Notes due September 1, 2018 | 550 | 550 | 5.750% Fixed Senior Notes due September 30, 2020 | 126 | 126 | ||||||||
2.150% Fixed Senior Notes due June 1, 2019 | 250 | - | 4.100% Fixed Senior Notes due June 1, 2022 | 400 | 400 | ||||||||
5.750% Fixed Senior Notes due September 30, 2020 | 126 | 126 | 7.000% Fixed Debentures due September 1, 2022 | 800 | 800 | ||||||||
4.100% Fixed Senior Notes due June 1, 2022 | 400 | 400 | 7.000% Fixed Senior Notes due May 1, 2032 | 500 | 500 | ||||||||
7.000% Fixed Debentures due September 1, 2022 | 800 | 800 | 7.250% Fixed Senior Notes due January 15, 2033 | 350 | 350 | ||||||||
7.000% Fixed Senior Notes due May 1, 2032 | 500 | 500 | 7.500% Fixed Senior Notes due September 1, 2038 | 300 | 300 | ||||||||
7.250% Fixed Senior Notes due January 15, 2033 | 350 | 350 | 5.250% Fixed Senior Notes due September 30, 2040 | 475 | 475 | ||||||||
7.500% Fixed Senior Notes due September 1, 2038 | 300 | 300 | 4.550% Fixed Senior Notes due December 1, 2041 | 400 | 300 | ||||||||
5.250% Fixed Senior Notes due September 30, 2040 | 475 | 475 | 5.300% Fixed Senior Notes due June 1, 2042 | 500 | 500 | ||||||||
4.550% Fixed Senior Notes due December 1, 2041 | 400 | 400 | Unamortized discount | -23 | -35 | ||||||||
5.300% Fixed Senior Notes due June 1, 2042 | 500 | 500 | Long-term debt, less amounts due currently — Oncor | 5,202 | 5,090 | ||||||||
Unamortized discount | -20 | -23 | |||||||||||
Less amount due currently | -500 | - | Bondco (b): | ||||||||||
Long-term debt, less amounts due currently — Oncor | 4,955 | 5,202 | 4.950% Fixed Series 2003 Bonds due in semiannual installments through February 15, 2013 | - | 10 | ||||||||
Bondco (b): | 5.420% Fixed Series 2003 Bonds due in semiannual installments through August 15, 2015 | 106 | 145 | ||||||||||
5.420% Fixed Series 2003 Bonds due in semiannual installments through August 15, 2015 | 54 | 106 | 5.290% Fixed Series 2004 Bonds due in semiannual installments through May 15, 2016 | 205 | 281 | ||||||||
5.290% Fixed Series 2004 Bonds due in semiannual installments through May 15, 2016 | 168 | 205 | Unamortized fair value discount related to transition bonds | -1 | -1 | ||||||||
Unamortized fair value discount related to transition bonds | - | -1 | Less amount due currently | -131 | -125 | ||||||||
Less amount due currently | -136 | -131 | Long-term debt, less amounts due currently — Bondco | 179 | 310 | ||||||||
Long-term debt, less amounts due currently — Bondco | 86 | 179 | Total long-term debt, less amounts due currently | $ | 5,381 | $ | 5,400 | ||||||
Total long-term debt, less amounts due currently | $ | 5,041 | $ | 5,381 | __________ | ||||||||
__________ | (a)Secured by first priority lien on certain transmission and distribution assets equally and ratably with all of Oncor’s other secured indebtedness. See “Deed of Trust” below for additional information. | ||||||||||||
(a) Secured by first priority lien on certain transmission and distribution assets equally and ratably with all of Oncor’s other secured indebtedness. See “Deed of Trust” in Note 6 to Financial Statements in our 2013 Form 10-K for additional information. | (b)The transition bonds are nonrecourse to Oncor and were issued to securitize a regulatory asset. | ||||||||||||
(b) The transition bonds are nonrecourse to Oncor and were issued to securitize a regulatory asset. | |||||||||||||
Debt-Related Activity in 2013 | |||||||||||||
Debt-Related Activity in 2014 | |||||||||||||
Debt Repayments | |||||||||||||
Debt Repayments | |||||||||||||
Repayments of long-term debt in 2013 totaled $125 million and represent transition bond principal payments at scheduled maturity dates. | |||||||||||||
Repayments of long-term debt in the six months ended September 30, 2014 totaled $89 million and represent transition bond principal payments at scheduled maturity dates. | |||||||||||||
Issuance of New Senior Secured Notes | |||||||||||||
Issuance of New Senior Secured Notes | |||||||||||||
In May 2013, we completed the sale of $100 million aggregate principal amount of 4.550% senior secured notes maturing in December 2041 (Additional 2041 Notes). The Additional 2041 Notes were an additional issuance of our 4.550% senior secured notes maturing in December 2041, $300 million aggregate principal amount of which were previously issued in November 2011 (2041 Notes). The Additional 2041 Notes were issued as part of the same series as the 2041 Notes. We used the net proceeds of approximately $107 million from the sale of the Additional 2041 Notes to repay borrowings under our revolving credit facility and for general corporate purposes. The Additional 2041 Notes and 2041 Notes are secured by the first priority lien and are secured equally and ratably with all of our other secured indebtedness as discussed below. | |||||||||||||
In May 2014, we issued $250 million aggregate principal amount of 2.150% senior secured notes maturing in June 2019 (Notes). We used the proceeds (net of the initial purchasers’ discount, fees and expenses) of approximately $248 million from the sale of the Notes to repay borrowings under our revolving credit facility and for other general corporate purposes. The Notes are secured by a first priority lien, and are secured equally and ratably with all of our other secured indebtedness. | |||||||||||||
Interest on the Additional 2041 Notes is payable in cash semiannually in arrears on June 1 and December 1 of each year, beginning on June 1, 2013. We may at our option redeem the notes, in whole or in part, at any time, at a price equal to 100% of their principal amount, plus accrued and unpaid interest and a “make-whole” premium. The notes also contain customary events of default, including failure to pay principal or interest on the notes when due. | |||||||||||||
Interest on the Notes is payable in cash semiannually in arrears on June 1 and December 1 of each year, beginning on December 1, 2014. We may at our option at any time and from time to time redeem all or part of the Notes at a price equal to 100% of their principal amount, plus accrued and unpaid interest and a make-whole premium. The Notes also contain customary events of default, including failure to pay principal or interest on the Notes when due. | |||||||||||||
The Additional 2041 Notes were issued in a private placement, and in July 2013 we completed an offering with the holders of the Additional 2041 Notes to exchange their respective Additional 2041 Notes for notes that have terms identical in all material respects to the Additional 2041 Notes (Exchange Notes), except that the Exchange Notes do not contain terms with respect to transfer restrictions, registration rights and payment of additional interest for failure to observe certain obligations in a certain registration rights agreement. The Exchange Notes were registered on a Form S-4, which was declared effective in June 2013. | |||||||||||||
The Notes were issued in a private placement and were not registered under the Securities Act. We have agreed, subject to certain exceptions, to register with the SEC notes having substantially identical terms as the Notes (except for provisions relating to the transfer restriction and payment of additional interest) as part of an offer to exchange freely tradable exchange notes for the Notes. We have agreed to use commercially reasonable efforts to cause the exchange offer to be completed within 315 days after the issue date of the Notes. If a registration statement for the exchange offer is not declared effective by the SEC within 270 days after the issue date of the Notes or the exchange offer is not completed within 315 days after the issue date of the Notes (an exchange default), then the annual interest rate on the Notes will increase 50 basis points per annum until the earlier of the expiration of the exchange default or the second anniversary of the issue date of the Notes. | |||||||||||||
Debt-Related Activity in 2012 | |||||||||||||
Fair Value of Long-Term Debt | |||||||||||||
Debt Repayments | |||||||||||||
At September 30, 2014 and December 31, 2013, the estimated fair value of our long-term debt (including current maturities) totaled $6.759 billion and $6.188 billion, respectively, and the carrying amount totaled $5.677 billion and $5.512 billion, respectively. The fair value is estimated based upon the market value as determined by quoted market prices, representing Level 1 valuations under accounting standards related to the determination of fair value. | |||||||||||||
Repayments of long-term debt in 2012 totaled $1.018 billion and represented $376 million principal amount of 6.375% senior secured notes paid at the scheduled maturity date of May 1, 2012, the redemption of $524 million principal amount of 5.950% senior secured notes due September 1, 2013 (2013 Notes) as discussed below and $118 million principal amount of transition bonds paid at scheduled maturity dates. | |||||||||||||
In June 2012, pursuant to the terms of the indenture and officer’s certificate governing the 2013 Notes, we redeemed all of the 2013 Notes. We paid a redemption price equal to 100% of the principal amount of the 2013 Notes plus a make-whole amount of $33 million. For accounting purposes, the make-whole amount was deferred as a regulatory asset and amortized to interest expense through September 1, 2013, the original maturity date of the 2013 Notes. | |||||||||||||
Issuance of New Senior Secured Notes | |||||||||||||
In May 2012, we issued $400 million aggregate principal amount of 4.100% senior secured notes maturing in June 2022 (2022 Notes) and $500 million aggregate principal amount of 5.300% senior secured notes maturing in June 2042 (2042 Notes, and collectively with the 2022 Notes, the Notes). We used the proceeds (net of the initial purchasers’ discount, fees and expenses) of approximately $890 million from the sale of the Notes to repay borrowings under our revolving credit facility, redeem the 2013 Notes (as discussed above) and for other general corporate purposes. The Notes are secured equally and ratably with all of our other secured indebtedness pursuant to the Deed of Trust by a first priority lien on property acquired or constructed for the transmission and distribution of electricity. | |||||||||||||
Interest on the Notes is payable in cash semiannually in arrears on June 1 and December 1 of each year, beginning on December 1, 2012. We may at our option at any time and from time to time redeem all or part of the Notes at a price equal to 100% of their principal amount, plus accrued and unpaid interest and a make-whole premium. The Notes also contain customary events of default, including failure to pay principal or interest on the Notes when due. | |||||||||||||
The Notes were issued in a private placement, and in August 2012 we offered holders of the Notes the opportunity to exchange their respective Notes for notes that have terms identical in all material respects to the Notes (Exchange Notes), except that the Exchange Notes do not contain terms with respect to transfer restrictions, registration rights and payment of additional interest for failure to observe certain obligations in a certain registration rights agreement. The Exchange Notes were registered on a Form S-4, which was declared effective in July 2012. | |||||||||||||
Deed of Trust | |||||||||||||
Our secured indebtedness, including the revolving credit facility described in Note 5, is secured equally and ratably by a first priority lien on property we acquired or constructed for the transmission and distribution of electricity. The property is mortgaged under the Deed of Trust. The Deed of Trust permits us to secure indebtedness (including borrowings under our revolving credit facility) with the lien of the Deed of Trust up to the aggregate of (i) the amount of available bond credits, and (ii) 85% of the lower of the fair value or cost of certain property additions that could be certified to the Deed of Trust collateral agent. At December 31, 2013, the amount of available bond credits was approximately $2.176 billion and the amount of future debt we could secure with property additions, subject to those property additions being certified to the Deed of Trust collateral agent, was $1.173 billion. | |||||||||||||
Maturities | |||||||||||||
Long-term debt maturities at December 31, 2013, are as follows: | |||||||||||||
Year | Amount | ||||||||||||
2014 | $ | 131 | |||||||||||
2015 | 639 | ||||||||||||
2016 | 41 | ||||||||||||
2017 | 324 | ||||||||||||
2018 | 550 | ||||||||||||
Thereafter | 3,851 | ||||||||||||
Unamortized fair value discount | -1 | ||||||||||||
Unamortized discount | -23 | ||||||||||||
Total | $ | 5,512 | |||||||||||
Fair Value of Long-Term Debt | |||||||||||||
At December 31, 2013 and 2012, the estimated fair value of our long-term debt (including current maturities) totaled $6.188 billion and $6.568 billion, respectively, and the carrying amount totaled $5.512 billion and $5.525 billion, respectively. The fair value is estimated based upon the market value as determined by quoted market prices, representing Level 1 valuations under accounting standards related to the determination of fair value. | |||||||||||||
Commitments_And_Contingencies
Commitments And Contingencies | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2014 | Dec. 31, 2013 | ||||||
Commitments And Contingencies [Abstract] | ' | ' | |||||
COMMITMENTS AND CONTINGENCIES | ' | ' | |||||
7. COMMITMENTS AND CONTINGENCIES | 7. COMMITMENTS AND CONTINGENCIES | ||||||
EFH Bankruptcy Proceedings | EFH Corp. Potential Restructuring Activities | ||||||
On the EFH Petition Date, EFH Corp. and the substantial majority of its direct and indirect subsidiaries that are members of the Texas Holdings Group, including EFIH, EFCH and TCEH, commenced proceedings under Chapter 11 of the US Bankruptcy Code. The Oncor Ring-Fenced Entities are not parties to the EFH Bankruptcy Proceedings. See Notes 2 and 10 for a discussion of the potential impacts on us as a result of the EFH Bankruptcy Proceedings and our related-party transactions involving members of the Texas Holdings Group, respectively. | As noted in SEC filings made by members of the Texas Holdings Group, EFH Corp. and other members of the Texas Holdings Group have engaged in discussions with certain unaffiliated creditors regarding certain of those entities’ capital structures and long-term liquidity, as well as possible restructuring transactions involving those entities. See Note 11 for a discussion of our transactions with members of the Texas Holdings Group that could potentially be impacted by any these restructuring activities. | ||||||
Guarantees | Leases | ||||||
We are the lessee under various operating leases that obligate us to guarantee the residual values of the leased assets. At June 30, 2014, both the aggregate maximum amount of residual values guaranteed and the estimated residual recoveries totaled $6 million. These leased assets consist primarily of vehicles used in distribution activities. The average life of the residual value guarantees under the lease portfolio is approximately 2.4 years. | At December 31, 2013, our future minimum lease payments under operating leases (with initial or remaining noncancelable lease terms in excess of one year) were as follows: | ||||||
Legal/Regulatory Proceedings | |||||||
We are involved in various legal and administrative proceedings in the normal course of business, the ultimate resolution of which, in the opinion of management, should not have a material effect upon our financial position, results of operations or cash flows. See Note 3 in this report and Note 7 to Financial Statements in our 2013 Form 10-K for additional information regarding our legal and regulatory proceedings. | Year | Amount | |||||
2014 | $ | 6 | |||||
2015 | 4 | ||||||
2016 | 3 | ||||||
2017 | 1 | ||||||
2018 | - | ||||||
Thereafter | - | ||||||
Total future minimum lease payments | $ | 14 | |||||
Rent charged to operation and maintenance expense totaled $10 million for the year ended December 31, 2013 and $15 million for each of the years ended December 31, 2012 and 2011. | |||||||
Efficiency Spending | |||||||
We are required to annually invest in programs designed to improve customer electricity demand efficiencies to satisfy ongoing regulatory requirements. The 2014 requirement is $62 million. | |||||||
Guarantees | |||||||
We have entered into contracts that contain guarantees to unaffiliated parties that could require performance or payment under certain conditions as discussed below. | |||||||
We are the lessee under various operating leases that obligate us to guarantee the residual values of the leased assets. At December 31, 2013, both the aggregate maximum amount of residual values guaranteed and the estimated residual recoveries totaled $7 million. These leased assets consist primarily of vehicles used in distribution activities. The average life of the residual value guarantees under the lease portfolio is approximately 2.2 years. | |||||||
For the purpose of obtaining greater access to materials, we previously guaranteed the repayment of borrowings under a nonaffiliated party’s $7 million credit facility. The facility matured on March 31, 2013 and was not extended. | |||||||
Legal/Regulatory Proceedings | |||||||
We are involved in various legal and administrative proceedings in the normal course of business, the ultimate resolution of which, in the opinion of management, should not have a material effect upon our financial position, results of operations or cash flows. | |||||||
Labor Contracts | |||||||
Certain of our employees are represented by a labor union and covered by a collective bargaining agreement with an expiration date of October 25, 2015. | |||||||
Environmental Contingencies | |||||||
We must comply with environmental laws and regulations applicable to the handling and disposal of hazardous waste. We are in compliance with all current laws and regulations; however, the impact, if any, of changes to existing regulations or the implementation of new regulations is not determinable. The costs to comply with environmental regulations can be significantly affected by the following external events or conditions: | |||||||
· | changes to existing state or federal regulation by governmental authorities having jurisdiction over control of toxic substances and hazardous and solid wastes, and other environmental matters, and | ||||||
· | the identification of additional sites requiring clean-up or the filing of other complaints in which we may be asserted to be a potential responsible party. | ||||||
Membership_Interests
Membership Interests | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||
Membership Interests [Abstract] | ' | ' | ||||||||||||||||
MEMBERSHIP INTERESTS | ' | ' | ||||||||||||||||
8. MEMBERSHIP INTERESTS | 8. MEMBERSHIP INTERESTS | |||||||||||||||||
Cash Distributions | Cash Distributions | |||||||||||||||||
On October 21, 2014, our board of directors declared a cash distribution of $101 million, which was paid to our members on October 22, 2014. During the nine months ended September 30, 2014, our board of directors declared, and we paid the following cash distributions to our members. | On February 19, 2014, our board of directors declared a cash distribution of $53 million, which was paid to our members on February 20, 2014. | |||||||||||||||||
During 2013, our board of directors declared, and we paid the following cash distributions to our members: | ||||||||||||||||||
Declaration Date | Payment Date | Amount | ||||||||||||||||
30-Jul-14 | 31-Jul-14 | $ | 71 | Declaration Date | Payment Date | Amount | ||||||||||||
30-Apr-14 | 1-May-14 | 57 | 29-Oct-13 | 31-Oct-13 | $ | 95 | ||||||||||||
19-Feb-14 | 20-Feb-14 | $ | 53 | 31-Jul-13 | 1-Aug-13 | $ | 95 | |||||||||||
1-May-13 | 2-May-13 | $ | 70 | |||||||||||||||
Distributions are limited by our required regulatory capital structure to be at or below the assumed debt-to-equity ratio established periodically by the PUCT for ratemaking purposes, which is currently set at 60% debt to 40% equity. At September 30, 2014, our regulatory capitalization ratio was 58.7% debt and 41.3% equity. The PUCT has the authority to determine what types of debt and equity are included in a utility’s debt-to-equity ratio. For purposes of this ratio, debt is calculated as long-term debt plus unamortized gains on reacquired debt less unamortized issuance expenses, premiums and losses on reacquired debt. The debt calculation excludes transition bonds issued by Bondco. Equity is calculated as membership interests determined in accordance with US GAAP, excluding the effects of purchase accounting (which included recording the initial goodwill and fair value adjustments and the subsequent related impairments and amortization). At September 30, 2014, $193 million was available for distribution to our members under the capital structure restriction. | 13-Feb-13 | 15-Feb-13 | $ | 50 | ||||||||||||||
Membership Interests | During 2012, our board of directors declared, and we paid the following cash distributions to our members: | |||||||||||||||||
The following tables present the changes to membership interests during the nine months ended September 30, 2014 and 2013: | ||||||||||||||||||
Declaration Date | Payment Date | Amount | ||||||||||||||||
24-Oct-12 | 30-Oct-12 | $ | 70 | |||||||||||||||
Capital Accounts | Accumulated Other Comprehensive Income (Loss) | Total Membership Interests | 25-Jul-12 | 31-Jul-12 | $ | 50 | ||||||||||||
25-Apr-12 | 1-May-12 | $ | 60 | |||||||||||||||
Balance at December 31, 2013 | $ | 7,457 | $ | -48 | $ | 7,409 | 14-Feb-12 | 21-Feb-12 | $ | 45 | ||||||||
Net income | 355 | - | 355 | |||||||||||||||
Distributions | -181 | - | -181 | Distributions are limited by our required regulatory capital structure to be at or below the assumed debt-to-equity ratio established periodically by the PUCT for ratemaking purposes, which is currently set at 60% debt to 40% equity. At December 31, 2013, our regulatory capitalization ratio was 58.7% debt and 41.3% equity. The PUCT has the authority to determine what types of debt and equity are included in a utility’s debt-to-equity ratio. For purposes of this ratio, debt is calculated as long-term debt plus unamortized gains on reacquired debt less unamortized issuance expenses, premiums and losses on reacquired debt. The debt calculation excludes transition bonds issued by Bondco. Equity is calculated as membership interests determined in accordance with US GAAP, excluding the effects of purchase accounting (which included recording the initial goodwill and fair value adjustments and the subsequent related impairments and amortization). At December 31, 2013, $192 million was available for distribution to our members under the capital structure restriction. | ||||||||||||||
Net effects of cash flow hedges (net of tax) | 2 | 2 | ||||||||||||||||
Defined benefit pension plans (net of tax) | - | -1 | -1 | Accumulated Other Comprehensive Income (Loss) | ||||||||||||||
Balance at September 30, 2014 | $ | 7,631 | $ | -47 | $ | 7,584 | ||||||||||||
The following table presents the changes to accumulated other comprehensive income (loss) for the year ended December 31, 2013. | ||||||||||||||||||
Capital Accounts | Accumulated Other Comprehensive Income (Loss) | Total Membership Interests | ||||||||||||||||
Balance at December 31, 2012 | $ | 7,335 | $ | -31 | $ | 7,304 | Cash Flow Hedges – Interest Rate Swap | Defined Benefit Pension and OPEB Plans | Accumulated Other Comprehensive Income (Loss) | |||||||||
Net income | 329 | - | 329 | |||||||||||||||
Distributions | -215 | - | -215 | Balance at December 31, 2012 | $ | -28 | $ | -3 | $ | -31 | ||||||||
Net effects of cash flow hedges (net of tax) | 3 | 3 | Defined benefit pension plans (net of tax) | - | -19 | -19 | ||||||||||||
Defined benefit pension plans (net of tax) | - | -1 | -1 | Amounts reclassified from accumulated other comprehensive income (loss) and reported in interest expense and related charges | 2 | - | 2 | |||||||||||
Other | -1 | - | -1 | Balance at December 31, 2013 | $ | -26 | $ | -22 | $ | -48 | ||||||||
Balance at September 30, 2013 | $ | 7,448 | $ | -29 | $ | 7,419 | ||||||||||||
Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||||
The following tables present the changes to accumulated other comprehensive income (loss) for the nine months ended September 30, 2014 and 2013: | ||||||||||||||||||
Cash Flow Hedges – Interest Rate Swap | Defined Benefit Pension and OPEB Plans | Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||
Balance at December 31, 2013 | $ | -26 | $ | -22 | $ | -48 | ||||||||||||
Defined benefit pension plans (net of tax) | - | -1 | -1 | |||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) and reported in interest expense and related charges | 2 | - | 2 | |||||||||||||||
Balance at September 30, 2014 | $ | -24 | $ | -23 | $ | -47 | ||||||||||||
Cash Flow Hedges – Interest Rate Swap | Defined Benefit Pension and OPEB Plans | Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||
Balance at December 31, 2012 | $ | -28 | $ | -3 | $ | -31 | ||||||||||||
Defined benefit pension plans (net of tax) | - | -1 | -1 | |||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) and reported in interest expense and related charges | 3 | - | 3 | |||||||||||||||
Balance at September 30, 2013 | $ | -25 | $ | -4 | $ | -29 | ||||||||||||
Pension_and_Other_Postretireme
Pension and Other Postretirement Employee Benefits Plans | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||
Pension and Other Postretirement Employee Benefits Plans [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||
PENSION AND OTHER POSTRETIREMENT EMPLOYEE BENEFITS PLANS | ' | ' | ||||||||||||||||||||||||||||||||||||||||||
9. PENSION AND OTHER POSTRETIREMENT EMPLOYEE BENEFITS PLANS | ||||||||||||||||||||||||||||||||||||||||||||
9. PENSION AND OTHER POSTRETIREMENT EMPLOYEE BENEFITS PLANS | ||||||||||||||||||||||||||||||||||||||||||||
We participate in two defined pension plans, the Oncor Retirement Plan and the EFH Retirement Plan. Until July 1, 2014, we also participated with EFH Corp. and other subsidiaries of EFH Corp. to offer certain health care and life insurance benefits to eligible employees and their eligible dependents upon the retirement of such employees (EFH OPEB Plan). As discussed below, we ceased participation in the EFH OPEB Plan and established our own OPEB plan for our eligible employees and their dependents (Oncor OPEB Plan). We also have a supplemental pension plan for certain employees whose retirement benefits cannot be fully earned under the qualified retirement plans. See Note 9 to Financial Statements in our 2013 Form 10-K for additional information regarding our pension plans and the EFH OPEB Plan. | ||||||||||||||||||||||||||||||||||||||||||||
Regulatory Recovery of Pension and OPEB Costs | ||||||||||||||||||||||||||||||||||||||||||||
In April 2014, we entered into an agreement with EFH Corp. in which we agreed to transfer to the Oncor OPEB Plan effective July 1, 2014, the assets and liabilities related to our eligible current and future retirees as well as retirees of EFH Corp. whose employment included service with both Oncor (or a predecessor regulated electric business) and a non-regulated business of EFH Corp. Pursuant to the agreement, EFH Corp. will retain its portion of the liability for retiree benefits related to those retirees. Since the Oncor OPEB Plan offers identical benefits as the EFH OPEB Plan and we and EFH Corp. retain the same responsibility for participants as before, there was no financial impact as a result of the transfer other than from a remeasurement of the Oncor OPEB Plan’s asset values and obligations. As we are not responsible for EFH Corp.’s portion of the Oncor OPEB Plan’s unfunded liability totaling $104 million as of September 30, 2014, that amount is not reported on our balance sheet. | ||||||||||||||||||||||||||||||||||||||||||||
PURA provides for our recovery of pension and OPEB costs applicable to services of our active and retired employees, as well as services of other EFH Corp. active and retired employees prior to the deregulation and disaggregation of EFH Corp.’s electric utility businesses effective January 1, 2002 (recoverable service). Accordingly, we entered into an agreement with EFH Corp. whereby we assumed responsibility for applicable pension and OPEB costs related to those personnel’s recoverable service. | ||||||||||||||||||||||||||||||||||||||||||||
As a result of the establishment of the Oncor OPEB Plan, asset values and obligations were remeasured as of July 1, 2014, resulting in the projected benefit obligation increasing by $75 million, or 8%, the fair value of assets decreasing by $3 million, or 2%, and regulatory assets increasing by $64 million, or 50%, as compared to December 31, 2013 values. Assumptions used in the remeasurement included a decrease in the discount rate to 4.39% from 4.98% and no change in the expected return on assets of 7.05% assumed at December 31, 2013. The remeasurement did not materially affect reported OPEB expense for the three months ended September 30, 2014. | ||||||||||||||||||||||||||||||||||||||||||||
We are authorized to establish a regulatory asset or liability for the difference between the amounts of pension and OPEB costs approved in current billing rates and the actual amounts that would otherwise have been recorded as charges or credits to earnings related to recoverable service. Amounts deferred are ultimately subject to regulatory approval. At December 31, 2013 and 2012, we had recorded regulatory assets totaling $786 million and $1.011 billion, respectively, related to pension and OPEB costs, including amounts related to deferred expenses as well as amounts related to unfunded liabilities that otherwise would be recorded as other comprehensive income. | ||||||||||||||||||||||||||||||||||||||||||||
Our net costs related to pension plans and OPEB plans for the three and nine months ended September 30, 2014 and 2013 were comprised of the following: | ||||||||||||||||||||||||||||||||||||||||||||
In a 2012 agreement described below, we assumed primary responsibility for retirement costs related to certain non-recoverable service. Any retirement costs associated with non-recoverable service is not recoverable through rates. | ||||||||||||||||||||||||||||||||||||||||||||
Pension Plan | ||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | We have liabilities under the Oncor Retirement Plan and the EFH Retirement Plan, both of which are qualified pension plans under Section 401(a) of the Internal Revenue Code of 1986, as amended (Code), and are subject to the provisions of ERISA. Employees do not contribute to either plan. These pension plans provide benefits to participants under one of two formulas: (i) a Cash Balance Formula under which participants earn monthly contribution credits based on their compensation and a combination of their age and years of service, plus monthly interest credits or (ii) a Traditional Retirement Plan Formula based on years of service and the average earnings of the three years of highest earnings. The interest component of the Cash Balance Formula is variable and is determined using the yield on 30-year Treasury bonds. Under the Cash Balance Formula, future increases in earnings will not apply to prior service costs. | ||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||
All eligible employees hired after January 1, 2001 participate under the Cash Balance Formula. Certain employees, who, prior to January 1, 2002, participated under the Traditional Retirement Plan Formula, continue their participation under that formula. It is the sponsors’ policy to fund the plans on a current basis to the extent required under existing federal tax and ERISA regulations. | ||||||||||||||||||||||||||||||||||||||||||||
Components of net allocated pension costs: | ||||||||||||||||||||||||||||||||||||||||||||
Service cost | $ | 6 | $ | 6 | $ | 18 | $ | 18 | In August 2012, EFH Corp. approved certain amendments to the EFH Retirement Plan. These actions were completed in the fourth quarter of 2012, and the amendments resulted in: | |||||||||||||||||||||||||||||||||||
Interest cost | 33 | 31 | 99 | 92 | ||||||||||||||||||||||||||||||||||||||||
Expected return on assets | -34 | -31 | -102 | -91 | · | the splitting off of assets and liabilities under the plan associated with our employees and all retirees and terminated vested participants of EFH Corp. and its subsidiaries (including discontinued businesses) to a new qualified pension plan that provides benefits identical to those provided under the EFH Retirement Plan, for which we assumed sponsorship from EFH Corp. effective January 1, 2013 (Oncor Retirement Plan); | ||||||||||||||||||||||||||||||||||||||
Amortization of net loss | 9 | 17 | 29 | 52 | ||||||||||||||||||||||||||||||||||||||||
Net pension costs | 14 | 23 | 44 | 71 | · | maintaining assets and liabilities under the plan associated with active collective bargaining unit (union) employees of EFH Corp.'s competitive subsidiaries under the current plan; | ||||||||||||||||||||||||||||||||||||||
Components of net OPEB costs: | ||||||||||||||||||||||||||||||||||||||||||||
Service cost | 2 | 1 | 5 | 4 | · | the splitting off of assets and liabilities under the plan associated with all other plan participants (active nonunion employees of EFH Corp.’s competitive businesses) to a terminating plan, freezing benefits and vesting all accrued plan benefits for these participants, and | ||||||||||||||||||||||||||||||||||||||
Interest cost | 11 | 9 | 33 | 28 | ||||||||||||||||||||||||||||||||||||||||
Expected return on assets | -3 | -3 | -9 | -9 | · | the termination of, distributions of benefits under, and settlement of all of EFH Corp.'s liabilities under the terminating plan. | ||||||||||||||||||||||||||||||||||||||
Amortization of prior service cost | -5 | -5 | -15 | -15 | ||||||||||||||||||||||||||||||||||||||||
Amortization of net loss | 8 | 7 | 20 | 19 | As a result of these actions and in connection with assuming sponsorship of the Oncor Retirement Plan, we entered into an agreement with EFH Corp. to assume primary responsibility for benefits of certain participants for whom EFH Corp. bore primary funding responsibility (a closed group of retired and terminated vested plan participants not related to our regulated utility business) at December 31, 2012. As we received a corresponding amount of assets with the assumed liabilities, execution of the agreement did not have a material impact on our reported results of operations or financial condition. In the fourth quarter of 2012, EFH Corp. made cash contributions totaling $259 million to settle the terminating plan obligations and fully fund its obligations under the Oncor Retirement Plan. | |||||||||||||||||||||||||||||||||||||||
Net OPEB costs | 13 | 9 | 34 | 27 | ||||||||||||||||||||||||||||||||||||||||
Total net pension and OPEB costs | 27 | 32 | 78 | 98 | We also have supplemental pension plans for certain employees whose retirement benefits cannot be fully earned under the qualified retirement plan, the information for which is included below. | |||||||||||||||||||||||||||||||||||||||
Less amounts deferred principally as property or a regulatory asset | -18 | -23 | -51 | -71 | ||||||||||||||||||||||||||||||||||||||||
Net amounts recognized as expense | $ | 9 | $ | 9 | $ | 27 | $ | 27 | OPEB Plan | |||||||||||||||||||||||||||||||||||
The discount rates reflected in net pension and OPEB costs in 2014 are 4.72%, 5.07% and 4.39% (as of July 1, 2014) for the Oncor Retirement Plan, the EFH Retirement Plan and OPEB plans, respectively. The expected return on pension and OPEB plan assets reflected in the 2014 cost amounts are 6.48%, 6.17% and 7.05% for the Oncor Retirement Plan, the EFH Retirement Plan and the OPEB plans, respectively. | We participate with EFH Corp. and other subsidiaries of EFH Corp. to offer certain health care and life insurance benefits to eligible employees and their eligible dependents upon the retirement of such employees (OPEB Plan). For employees retiring on or after January 1, 2002, the retiree contributions required for such coverage vary based on a formula depending on the retiree’s age and years of service. | |||||||||||||||||||||||||||||||||||||||||||
We made cash contributions to the pension plans and OPEB plans of $67 million and $12 million, respectively, during the nine months ended September 30, 2014, and we expect to make additional cash contributions to the pension plans and OPEB plans of $1 million and $5 million, respectively, during the remainder of 2014. | Pension and OPEB Costs Recognized as Expense | |||||||||||||||||||||||||||||||||||||||||||
The pension and OPEB amounts provided herein include our allocated amounts related to EFH Corp.’s plans based on actuarial computations and reflect our employee and retiree demographics as described above. We recognized the following net pension and OPEB costs as expense: | ||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||||||
Pension costs | $ | 95 | $ | 179 | $ | 95 | ||||||||||||||||||||||||||||||||||||||
OPEB costs | 37 | 27 | 74 | |||||||||||||||||||||||||||||||||||||||||
Total benefit costs | 132 | 206 | 169 | |||||||||||||||||||||||||||||||||||||||||
Less amounts deferred principally as property or a regulatory asset | -95 | -169 | -132 | |||||||||||||||||||||||||||||||||||||||||
Net amounts recognized as expense | $ | 37 | $ | 37 | $ | 37 | ||||||||||||||||||||||||||||||||||||||
We and EFH Corp. use the calculated value method to determine the market-related value of the assets held in the trust for purposes of calculating our pension costs. We and EFH Corp. include the realized and unrealized gains or losses in the market-related value of assets over a rolling four-year period. Each year, 25% of such gains and losses for the current year and for each of the preceding three years is included in the market-related value. Each year, the market-related value of assets is increased for contributions to the plan and investment income and is decreased for benefit payments and expenses for that year. | ||||||||||||||||||||||||||||||||||||||||||||
We and EFH Corp. use the fair value method to determine the market-related value of the assets held in the trust for purposes of calculating OPEB cost. | ||||||||||||||||||||||||||||||||||||||||||||
Detailed Information Regarding Pension and OPEB Benefits | ||||||||||||||||||||||||||||||||||||||||||||
The following pension and OPEB information is based on December 31, 2013, 2012 and 2011 measurement dates: | ||||||||||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plan | |||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||
Assumptions Used to Determine Net Periodic Pension and Benefit Cost: | ||||||||||||||||||||||||||||||||||||||||||||
Discount rate (a) | 4.10% | 5.00% | 5.50% | 4.10% | 4.95% | 5.55% | ||||||||||||||||||||||||||||||||||||||
Expected return on plan assets | 6.14% | 7.40% | 7.70% | 6.70% | 6.80% | 7.10% | ||||||||||||||||||||||||||||||||||||||
Rate of compensation increase | 3.94% | 3.81% | 3.74% | - | - | - | ||||||||||||||||||||||||||||||||||||||
Components of Net Pension and Benefit Cost: | ||||||||||||||||||||||||||||||||||||||||||||
Service cost | $ | 26 | $ | 23 | $ | 20 | $ | 6 | $ | 5 | $ | 7 | ||||||||||||||||||||||||||||||||
Interest Cost | 122 | 106 | 110 | 36 | 39 | 54 | ||||||||||||||||||||||||||||||||||||||
Expected return on assets | -123 | -109 | -99 | -11 | -12 | -14 | ||||||||||||||||||||||||||||||||||||||
Amortization of net transition obligation | - | - | - | - | 1 | 1 | ||||||||||||||||||||||||||||||||||||||
Amortization of prior service cost (credit) | - | - | 1 | -20 | -20 | -1 | ||||||||||||||||||||||||||||||||||||||
Amortization of net loss | 69 | 78 | 63 | 26 | 14 | 27 | ||||||||||||||||||||||||||||||||||||||
Settlement charges | 1 | 81 | - | - | - | - | ||||||||||||||||||||||||||||||||||||||
Net periodic pension and benefit cost | $ | 95 | $ | 179 | $ | 95 | $ | 37 | $ | 27 | $ | 74 | ||||||||||||||||||||||||||||||||
Other Changes in Plan Assets and Benefit Obligations Recognized as Regulatory Assets or in Other Comprehensive Income: | ||||||||||||||||||||||||||||||||||||||||||||
Net loss (gain) | $ | -139 | $ | 110 | $ | 106 | $ | - | $ | 83 | $ | -91 | ||||||||||||||||||||||||||||||||
Prior service cost (credit) | - | - | - | - | - | -127 | ||||||||||||||||||||||||||||||||||||||
Amortization of net loss | -69 | -78 | -63 | -26 | -14 | -27 | ||||||||||||||||||||||||||||||||||||||
Amortization of transition obligation (asset) | - | - | - | - | -1 | -1 | ||||||||||||||||||||||||||||||||||||||
Amortization of prior service (cost) credit | - | - | -1 | 20 | 20 | 1 | ||||||||||||||||||||||||||||||||||||||
Settlement charges | -1 | -81 | - | - | - | - | ||||||||||||||||||||||||||||||||||||||
Curtailment | - | -5 | - | - | - | - | ||||||||||||||||||||||||||||||||||||||
Total recognized as regulatory assets or other comprehensive income | -209 | -54 | 42 | -6 | 88 | -245 | ||||||||||||||||||||||||||||||||||||||
Total recognized in net periodic pension and benefit costs and as regulatory assets or other comprehensive income | $ | -114 | $ | 125 | $ | 137 | $ | 31 | $ | 115 | $ | -171 | ||||||||||||||||||||||||||||||||
_____________ | ||||||||||||||||||||||||||||||||||||||||||||
(a)As a result of the 2012 amendments discussed above, the discount rate reflected in net pension costs for January through July 2012 was 5.00%, for August through September 2012 was 4.15% and for October through December 2012 was 4.20%. | ||||||||||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plan | |||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||
Assumptions Used to Determine Benefit Obligations at Period End: | ||||||||||||||||||||||||||||||||||||||||||||
Discount rate | 4.74% | 4.10% | 5.00% | 4.98% | 4.10% | 4.95% | ||||||||||||||||||||||||||||||||||||||
Rate of compensation increase | 3.94% | 3.94% | 3.81% | - | - | - | ||||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plan | |||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||
Change in Projected Benefit Obligation: | ||||||||||||||||||||||||||||||||||||||||||||
Projected benefit obligation at beginning of year | $ | 3,038 | $ | 2,215 | $ | 913 | $ | 809 | ||||||||||||||||||||||||||||||||||||
Service cost | 26 | 23 | 6 | 5 | ||||||||||||||||||||||||||||||||||||||||
Interest cost | 122 | 106 | 36 | 39 | ||||||||||||||||||||||||||||||||||||||||
Participant contributions | - | - | 14 | 15 | ||||||||||||||||||||||||||||||||||||||||
Medicare Part D reimbursement | - | - | 2 | 3 | ||||||||||||||||||||||||||||||||||||||||
Settlement | -3 | -268 | - | - | ||||||||||||||||||||||||||||||||||||||||
Curtailment | - | -5 | - | - | ||||||||||||||||||||||||||||||||||||||||
Assumption of liabilities | - | 860 | - | 6 | ||||||||||||||||||||||||||||||||||||||||
Actuarial (gain) loss | -183 | 198 | 10 | 94 | ||||||||||||||||||||||||||||||||||||||||
Benefits paid | -143 | -91 | -57 | -58 | ||||||||||||||||||||||||||||||||||||||||
Projected benefit obligation at end of year | $ | 2,857 | $ | 3,038 | $ | 924 | $ | 913 | ||||||||||||||||||||||||||||||||||||
Accumulated benefit obligation at end of year | $ | 2,752 | $ | 2,908 | $ | - | $ | - | ||||||||||||||||||||||||||||||||||||
Change in Plan Assets: | ||||||||||||||||||||||||||||||||||||||||||||
Fair value of assets at beginning of year | $ | 2,327 | $ | 1,542 | $ | 190 | $ | 197 | ||||||||||||||||||||||||||||||||||||
Actual return (loss) on assets | 80 | 199 | 21 | 25 | ||||||||||||||||||||||||||||||||||||||||
Employer contributions | 9 | 93 | 11 | 11 | ||||||||||||||||||||||||||||||||||||||||
Settlement | -2 | -268 | - | - | ||||||||||||||||||||||||||||||||||||||||
Assets related to assumed liabilities | - | 852 | - | - | ||||||||||||||||||||||||||||||||||||||||
Participant contributions | - | - | 14 | 15 | ||||||||||||||||||||||||||||||||||||||||
Benefits paid | -143 | -91 | -57 | -58 | ||||||||||||||||||||||||||||||||||||||||
Fair value of assets at end of year | $ | 2,271 | $ | 2,327 | $ | 179 | $ | 190 | ||||||||||||||||||||||||||||||||||||
Funded Status: | ||||||||||||||||||||||||||||||||||||||||||||
Projected benefit obligation at end of year | $ | -2,857 | $ | -3,038 | $ | -924 | $ | -913 | ||||||||||||||||||||||||||||||||||||
Fair value of assets at end of year | 2,271 | 2,327 | 179 | 190 | ||||||||||||||||||||||||||||||||||||||||
Funded status at end of year | $ | -586 | $ | -711 | $ | -745 | $ | -723 | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plan | |||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||
Amounts Recognized in the Balance Sheet Consist of: | ||||||||||||||||||||||||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||
Other current liabilities | $ | -3 | $ | -3 | $ | - | $ | - | ||||||||||||||||||||||||||||||||||||
Other noncurrent liabilities | -583 | -708 | -745 | -723 | ||||||||||||||||||||||||||||||||||||||||
Net liability recognized | $ | -586 | $ | -711 | $ | -745 | $ | -723 | ||||||||||||||||||||||||||||||||||||
Regulatory assets: | ||||||||||||||||||||||||||||||||||||||||||||
Net loss | $ | 362 | $ | 602 | $ | 220 | $ | 247 | ||||||||||||||||||||||||||||||||||||
Prior service cost (credit) | - | - | -91 | -111 | ||||||||||||||||||||||||||||||||||||||||
Net regulatory asset recognized | $ | 362 | $ | 602 | $ | 129 | $ | 136 | ||||||||||||||||||||||||||||||||||||
Accumulated other comprehensive net loss | $ | 33 | $ | 3 | $ | 1 | $ | 1 | ||||||||||||||||||||||||||||||||||||
The following tables provide information regarding the assumed health care cost trend rates. | ||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||
Assumed Health Care Cost Trend Rates – Not Medicare Eligible: | ||||||||||||||||||||||||||||||||||||||||||||
Health care cost trend rate assumed for next year | 8.00% | 8.50% | ||||||||||||||||||||||||||||||||||||||||||
Rate to which the cost trend is expected to decline (the ultimate trend rate) | 5.00% | 5.00% | ||||||||||||||||||||||||||||||||||||||||||
Year that the rate reaches the ultimate trend rate | 2022 | 2022 | ||||||||||||||||||||||||||||||||||||||||||
Assumed Health Care Cost Trend Rates – Medicare Eligible: | ||||||||||||||||||||||||||||||||||||||||||||
Health care cost trend rate assumed for next year | 7.00% | 7.50% | ||||||||||||||||||||||||||||||||||||||||||
Rate to which the cost trend is expected to decline (the ultimate trend rate) | 5.00% | 5.00% | ||||||||||||||||||||||||||||||||||||||||||
Year that the rate reaches the ultimate trend rate | 2021 | 2021 | ||||||||||||||||||||||||||||||||||||||||||
1-Percentage Point Increase | 1-Percentage Point Decrease | |||||||||||||||||||||||||||||||||||||||||||
Sensitivity Analysis of Assumed Health Care Cost Trend Rates: | ||||||||||||||||||||||||||||||||||||||||||||
Effect on accumulated postretirement obligation | $ | 117 | $ | -97 | ||||||||||||||||||||||||||||||||||||||||
Effect on postretirement benefits cost | 7 | -6 | ||||||||||||||||||||||||||||||||||||||||||
The following table provides information regarding pension plans with projected benefit obligations (PBO) and accumulated benefit obligations (ABO) in excess of the fair value of plan assets. | ||||||||||||||||||||||||||||||||||||||||||||
At December 31, | ||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||
Pension Plans with PBO and ABO in Excess of Plan Assets: | ||||||||||||||||||||||||||||||||||||||||||||
Projected benefit obligations | $ | 2,857 | $ | 3,038 | ||||||||||||||||||||||||||||||||||||||||
Accumulated benefit obligations | 2,752 | 2,908 | ||||||||||||||||||||||||||||||||||||||||||
Plan assets | 2,271 | 2,327 | ||||||||||||||||||||||||||||||||||||||||||
Pension Plans and OPEB Plan Investment Strategy and Asset Allocations | ||||||||||||||||||||||||||||||||||||||||||||
Our investment objective for the retirement plans is to invest in a suitable mix of assets to meet the future benefit obligations at an acceptable level of risk, while minimizing the volatility of contributions. Equity securities are held to achieve returns in excess of passive indexes by participating in a wide range of investment opportunities. International equity securities are used to further diversify the equity portfolio and may include investments in both developed and emerging international markets. Fixed income securities include primarily corporate bonds from a diversified range of companies, US Treasuries and agency securities and money market instruments. Our investment strategy for fixed income investments is to maintain a high grade portfolio of securities, which assists us in managing the volatility and magnitude of plan contributions and expense while maintaining sufficient cash and short-term investments to pay near-term benefits and expenses. | ||||||||||||||||||||||||||||||||||||||||||||
The retirement plans’ investments are managed in two pools: one associated with the recoverable service portion of plan obligations related to our regulated utility business, and the other associated with plan obligations for the closed group of retired and terminated plan participants not related to our regulated utility business that we assumed from EFH Corp. in connection with our sponsorship of the Oncor Plan¸ as discussed above. The recoverable service portion is invested in a broadly diversified portfolio of equity and fixed income securities. The nonrecoverable service portion is invested in fixed income securities intended to fully hedge the obligations, within practical limitations. | ||||||||||||||||||||||||||||||||||||||||||||
The target asset allocation ranges of pension plan investments by asset category are as follows: | ||||||||||||||||||||||||||||||||||||||||||||
Target Allocation Ranges | ||||||||||||||||||||||||||||||||||||||||||||
Asset Category | Recoverable | Nonrecoverable | ||||||||||||||||||||||||||||||||||||||||||
US equities | 24% - 30% | — | ||||||||||||||||||||||||||||||||||||||||||
International equities | 19% - 25% | — | ||||||||||||||||||||||||||||||||||||||||||
Fixed income | 45% - 57% | 100% | ||||||||||||||||||||||||||||||||||||||||||
Our investment objective for the OPEB Plan primarily follows the objectives of the pension plans discussed above, while maintaining sufficient cash and short-term investments to pay near-term benefits and expenses. The actual amounts at December 31, 2013 provided below are consistent with the asset allocation targets. | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurement of Pension Plan Assets | ||||||||||||||||||||||||||||||||||||||||||||
At December 31, 2013 and 2012, pension plan assets measured at fair value on a recurring basis consisted of the following: | ||||||||||||||||||||||||||||||||||||||||||||
At December 31, 2013 | At December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||
Asset Category | ||||||||||||||||||||||||||||||||||||||||||||
Interest-bearing cash | $ | - | $ | 160 | $ | - | $ | 160 | $ | - | $ | 134 | $ | - | $ | 134 | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||||||||||
US | 250 | 82 | - | 332 | 206 | 95 | - | 301 | ||||||||||||||||||||||||||||||||||||
International | 337 | 7 | - | 344 | 280 | 7 | - | 287 | ||||||||||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||||||||||
Corporate bonds (a) | - | 1,265 | - | 1,265 | - | 1,319 | - | 1,319 | ||||||||||||||||||||||||||||||||||||
US Treasuries | - | 108 | - | 108 | - | 206 | - | 206 | ||||||||||||||||||||||||||||||||||||
Other (b) | - | 55 | - | 55 | - | 73 | - | 73 | ||||||||||||||||||||||||||||||||||||
Preferred securities | - | - | 7 | 7 | - | - | 7 | 7 | ||||||||||||||||||||||||||||||||||||
Total assets | $ | 587 | $ | 1,677 | $ | 7 | $ | 2,271 | $ | 486 | $ | 1,834 | $ | 7 | $ | 2,327 | ||||||||||||||||||||||||||||
_____________ | ||||||||||||||||||||||||||||||||||||||||||||
(a)Substantially all corporate bonds are rated investment grade by a major ratings agency such as Moody’s. | ||||||||||||||||||||||||||||||||||||||||||||
(b)Other consists primarily of municipal bonds and fixed income derivative instruments. | ||||||||||||||||||||||||||||||||||||||||||||
There was no significant change in the fair value of Level 3 assets in the periods presented. | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurement of OPEB Plan Assets | ||||||||||||||||||||||||||||||||||||||||||||
At December 31, 2013 and 2012, OPEB Plan assets measured at fair value on a recurring basis consisted of the following: | ||||||||||||||||||||||||||||||||||||||||||||
At December 31, 2013 | At December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||
Asset Category | ||||||||||||||||||||||||||||||||||||||||||||
Interest-bearing cash | $ | - | $ | 6 | $ | - | $ | 6 | $ | - | $ | 10 | $ | - | $ | 10 | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||||||||||
US | 53 | 5 | - | 58 | 49 | 6 | - | 55 | ||||||||||||||||||||||||||||||||||||
International | 35 | - | - | 35 | 31 | - | - | 31 | ||||||||||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||||||||||
Corporate bonds (a) | - | 34 | - | 34 | - | 42 | - | 42 | ||||||||||||||||||||||||||||||||||||
US Treasuries | - | 1 | - | 1 | - | 4 | - | 4 | ||||||||||||||||||||||||||||||||||||
Other (b) | 43 | 2 | - | 45 | 45 | 3 | - | 48 | ||||||||||||||||||||||||||||||||||||
Preferred securities | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||
Total assets | $ | 131 | $ | 48 | $ | - | $ | 179 | $ | 125 | $ | 65 | $ | - | $ | 190 | ||||||||||||||||||||||||||||
_____________ | ||||||||||||||||||||||||||||||||||||||||||||
(a)Substantially all corporate bonds are rated investment grade by a major ratings agency such as Moody’s. | ||||||||||||||||||||||||||||||||||||||||||||
(b)Other consists primarily of diversified bond mutual funds. | ||||||||||||||||||||||||||||||||||||||||||||
Expected Long-Term Rate of Return on Assets Assumption | ||||||||||||||||||||||||||||||||||||||||||||
The retirement plans’ strategic asset allocation is determined in conjunction with the plans’ advisors and utilizes a comprehensive Asset-Liability modeling approach to evaluate potential long-term outcomes of various investment strategies. The modeling incorporates long-term rate of return assumptions for each asset class based on historical and future expected asset class returns, current market conditions, rate of inflation, current prospects for economic growth, and taking into account the diversification benefits of investing in multiple asset classes and potential benefits of employing active investment management. | ||||||||||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plan | |||||||||||||||||||||||||||||||||||||||||||
Asset Class | Expected Long-Term Rate of Return | Asset Class | Expected Long-Term Rate of Return | |||||||||||||||||||||||||||||||||||||||||
International equity securities | 7.83% | 401(h) accounts | 7.59% | |||||||||||||||||||||||||||||||||||||||||
US equity securities | 7.20% | Life insurance VEBA | 6.71% | |||||||||||||||||||||||||||||||||||||||||
Real estate | 6.20% | Union VEBA | 6.71% | |||||||||||||||||||||||||||||||||||||||||
Credit strategies | 5.87% | Non-union VEBA | 3.80% | |||||||||||||||||||||||||||||||||||||||||
Fixed income securities | 5.30% | Weighted average | 7.05% | |||||||||||||||||||||||||||||||||||||||||
Weighted average (a) | 7.39% | |||||||||||||||||||||||||||||||||||||||||||
_____________ | ||||||||||||||||||||||||||||||||||||||||||||
(a)The 2014 expected long-term rate of return for the nonregulated portion of the Oncor Retirement Plan is 4.72%. | ||||||||||||||||||||||||||||||||||||||||||||
Significant Concentrations of Risk | ||||||||||||||||||||||||||||||||||||||||||||
The plans’ investments are exposed to risks such as interest rate, capital market and credit risks. We seek to optimize return on investment consistent with levels of liquidity and investment risk which are prudent and reasonable, given prevailing capital market conditions and other factors specific to participating employers. While we recognize the importance of return, investments will be diversified in order to minimize the risk of large losses unless, under the circumstances, it is clearly prudent not to do so. There are also various restrictions and guidelines in place including limitations on types of investments allowed and portfolio weightings for certain investment securities to assist in the mitigation of the risk of large losses. | ||||||||||||||||||||||||||||||||||||||||||||
Assumed Discount Rate | ||||||||||||||||||||||||||||||||||||||||||||
For the Oncor retirement plans at December 31, 2013, we selected the assumed discount rate using the Aon Hewitt AA-AAA Bond Universe yield curve, which is based on corporate bond yields and at December 31, 2013 consisted of 1,095 corporate bonds with an average rating of AA and AAA using Moody’s, S&P and Fitch ratings. For the EFH Retirement Plan, the OPEB Plan and, for dates earlier than December 31, 2013, the Oncor Retirement Plan, we and EFH Corp. selected the assumed discount rate using the Aon Hewitt AA Above Median yield curve, which is based on corporate bond yields and at December 31, 2013 consisted of 389 corporate bonds with an average rating of AA using Moody’s, S&P and Fitch ratings. | ||||||||||||||||||||||||||||||||||||||||||||
Amortization in 2014 | ||||||||||||||||||||||||||||||||||||||||||||
In 2014, amortization of the net actuarial loss and prior service cost for the defined benefit pension plans from regulatory assets into net periodic benefit cost is expected to be $39 million and less than $1 million, respectively. Amortization of the net actuarial loss and prior service credit for the OPEB Plan from regulatory assets into net periodic benefit cost is expected to be $26 million and a $20 million credit, respectively. | ||||||||||||||||||||||||||||||||||||||||||||
Pension and OPEB Plan Cash Contributions | ||||||||||||||||||||||||||||||||||||||||||||
Our contributions to the benefit plans were as follows: | ||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||||||
Pension plans contributions | $ | 9 | $ | 93 | $ | 175 | ||||||||||||||||||||||||||||||||||||||
OPEB Plan contributions | 11 | 11 | 18 | |||||||||||||||||||||||||||||||||||||||||
Total contributions | $ | 20 | $ | 104 | $ | 193 | ||||||||||||||||||||||||||||||||||||||
Our funding for the pension plans and the OPEB Plan is expected to total $87 million and $15 million, respectively in 2014 and approximately $408 million and $139 million, respectively, for the 2014 to 2018 period. | ||||||||||||||||||||||||||||||||||||||||||||
Future Benefit Payments | ||||||||||||||||||||||||||||||||||||||||||||
Estimated future benefit payments to beneficiaries are as follows: | ||||||||||||||||||||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | 2019-23 | |||||||||||||||||||||||||||||||||||||||
Pension plans | $ | 155 | $ | 159 | $ | 165 | $ | 169 | $ | 175 | $ | 942 | ||||||||||||||||||||||||||||||||
OPEB Plan | $ | 45 | $ | 49 | $ | 52 | $ | 55 | $ | 57 | $ | 316 | ||||||||||||||||||||||||||||||||
Thrift Plan | ||||||||||||||||||||||||||||||||||||||||||||
Our employees may participate in a qualified savings plan, the EFH Corp. Thrift Plan (Thrift Plan). This plan is a participant-directed defined contribution plan intended to qualify under Section 401(a) of the Code, and is subject to the provisions of ERISA. Under the terms of the Thrift Plan, employees who do not earn more than the IRS threshold compensation limit used to determine highly compensated employees may contribute, through pre-tax salary deferrals and/or after-tax applicable payroll deductions, the lesser of 75% of their regular salary or wages or the maximum amount permitted under law. Employees who earn more than such threshold may contribute from 1% to 20% of their regular salary or wages. Employer matching contributions are also made in an amount equal to 100% of the first 6% of employee contributions for employees who are covered under the Cash Balance Formula of the Oncor Retirement Plan, and 75% of the first 6% of employee contributions for employees who are covered under the Traditional Retirement Plan Formula of the Oncor Retirement Plan. Employer matching contributions are made in cash and may be allocated by participants to any of the plan's investment options. Our contributions to the Thrift Plan totaled $13 million, $12 million and $12 million for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||||||||||||||||||||||||
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2013 | |
Stock-Based Compensation [Abstract] | ' |
STOCK-BASED COMPENSATION | ' |
10. STOCK-BASED COMPENSATION | |
We currently do not offer stock-based compensation to our employees or directors. In 2008, we established the SARs Plan under which certain of our executive officers and key employees were granted stock appreciation rights payable in cash, or in some circumstances, Oncor membership interests. In February 2009, we established the Oncor Electric Delivery Company LLC Director Stock Appreciation Rights Plan (the Director SARs Plan) under which certain non-employee members of our board of directors and other persons having a relationship with us were granted SARs payable in cash, or in some circumstances, Oncor membership interests. | |
In November 2012, we accepted the early exercise of all outstanding SARs (both vested and unvested, totaling 14,322,219 SARs under the SARs Plan and 55,000 SARs under the Director SARs Plan) issued to date pursuant to both SARs Plans. The early exercise was permitted by our board of directors pursuant to the provision of the SARs Plan that permits the board to accelerate the vesting and exercisability of SARs. The early exercise of SARs entitled each participant in the SARs Plan to: (1) an exercise payment (Exercise Payment) equal to the number of SARs exercised multiplied by the difference between $14.54 and the base price of the SARs (as stated in the award letter for each SARs grant); and (2) the accrual of interest on all dividends declared to date with respect to the SARs, but no further dividend accruals. Additionally, certain executive officers agreed to defer payment of a portion of his/her Exercise Payment until the earlier of November 7, 2016 or the occurrence of an event triggering SAR exercisability pursuant to Section 5(c)(ii) of the SARs Plan. These deferred payments totaled approximately $6 million in the aggregate. As a result of the early exercise, in 2012 we paid an aggregate of approximately $64 million related to Exercise Payments ($57 million charged to expense), and began accruing interest on approximately $18 million in aggregate dividends. | |
As described above, as part of the 2012 early exercise of SARs we began accruing interest on dividends declared with respect to the SARs. Under both SARs plans, dividends that are paid in respect of Oncor membership interests while the SARs were outstanding were credited to the SARs holder’s account as if the SARs were units, payable upon the earliest to occur of death, disability, separation from service, unforeseeable emergency, a change in control, or the exercise of the SARs. As a result, in 2012 we recorded compensation expense of approximately $6 million relating to dividend accruals through November 2012. For accounting purposes, the liability is discounted based on an employee’s or director’s expected retirement date. We recognized approximately $2 million and $1 million in accretion and interest with respect to such dividends in 2013 and 2012, respectively. | |
RelatedParty_Transactions
Related-Party Transactions | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||
Related-Party Transactions [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||
RELATED-PARTY TRANSACTIONS | ' | ' | ||||||||||||||||||||||||||||||||||
10. RELATED-PARTY TRANSACTIONS | 11. RELATED-PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||
The following represent our significant related-party transactions. See Note 2 for additional information regarding related-party contingencies resulting from the EFH Bankruptcy Proceedings. | The following represent our significant related-party transactions and related matters: | |||||||||||||||||||||||||||||||||||
· | We record revenue from TCEH, principally for electricity delivery fees, which totaled $281 million and $273 million for the three months ended September 30, 2014 and 2013, respectively, and $746 million and $728 million for the nine months ended September 30, 2014 and 201, respectively. The fees are based on rates regulated by the PUCT that apply to all REPs. These revenues included less than $1 million for each of the three- and nine-month periods ended September 30, 2014 and 2013 pursuant to a transformer maintenance agreement with TCEH. The balance sheets at September 30, 2014 and December 31, 2013 reflect trade accounts and other receivables from affiliates – net totaling $152 million ($47 million of which was unbilled) and $135 million ($56 million of which was unbilled), respectively, primarily consisting of trade receivables from TCEH related to these electricity delivery fees. | · | We record revenue from TCEH, principally for electricity delivery fees, which totaled $967 million, $962 million and $1,026 million for the years ended December 31, 2013, 2012 and 2011, respectively. The fees are based on rates regulated by the PUCT that apply to all REPs. The balance sheets at December 31, 2013 and 2012 reflect accounts receivable from affiliates totaling $135 million ($56 million of which was unbilled) and $53 million ($48 million of which was unbilled), respectively, primarily consisting of trade receivables from TCEH related to these electricity delivery fees. At February 27, 2014, we had collected all but $6 million of the accounts receivable from affiliates outstanding at December 31, 2013. Trade accounts receivable from TCEH at December 31, 2012 reflects timing of payments in 2012. | |||||||||||||||||||||||||||||||||
Trade accounts and other receivables from EFH Corp. affiliates – net reported on our balance sheet consisted of the following: | · | Prior to August 2012, we recognized interest income from TCEH under an agreement related to our generation-related regulatory assets, which have been securitized through the issuance of transition bonds by Bondco. This interest income, which served to offset our interest expense on the transition bonds, totaled $16 million and $32 million for the years ended December 31, 2012 and 2011, respectively. Also prior to August 2012, we received reimbursement under a note receivable from TCEH for incremental amounts payable related to income taxes as a result of delivery fee surcharges related to the transition bonds. Amounts received under the note receivable for the year ended December 31, 2012 totaled $20 million. | ||||||||||||||||||||||||||||||||||
In August 2012, we sold to EFIH all future interest reimbursements and the remaining $159 million obligation under the note with TCEH. As a result, EFIH paid, and we received, an aggregate $159 million for the agreements. The sale of the related-party agreements was reported as a $2 million (after tax) decrease in total membership interests in 2012 in accordance with accounting rules for related-party transactions. | ||||||||||||||||||||||||||||||||||||
At September 30, | At December 31, | · | EFH Corp. subsidiaries charge us for certain administrative services at cost. Our payments to EFH Corp. subsidiaries for administrative services, which are primarily reported in operation and maintenance expenses, totaled $30 million, $32 million and $34 million for the years ended December 31, 2013, 2012 and 2011, respectively. We also charge each other for shared facilities at cost. Our payments to EFH Corp. subsidiaries for shared facilities totaled $4 million, $5 million and $4 million for the years ended December 31, 2013, 2012 and 2011, respectively. Payments we received from EFH Corp. subsidiaries related to shared facilities, totaled $2 million for each of the years ended December 31, 2013 and 2012 and $1 million for the year ended December 31, 2011. | |||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
· | Under Texas regulatory provisions, the trust fund for decommissioning TCEH’s Comanche Peak nuclear generation facility is funded by a delivery fee surcharge we collect from REPs and remit monthly to TCEH. Delivery fee surcharges totaled $16 million for each of the years ended December 31, 2013 and 2012 and $17 million for the year ended December 31, 2011. Our sole obligation with regard to nuclear decommissioning is as the collection agent of funds charged to ratepayers for nuclear decommissioning activities. If, at the time of decommissioning, actual decommissioning costs exceed available trust funds, we would not be obligated to pay any shortfalls but would be required to collect any rates approved by the PUCT to recover any additional decommissioning costs. Further, if there were to be a surplus when decommissioning is complete, such surplus would be returned to ratepayers under terms prescribed by the PUCT. | |||||||||||||||||||||||||||||||||||
Trade accounts and other receivables from affiliates | $ | 157 | $ | 141 | ||||||||||||||||||||||||||||||||
Trade accounts and other payables to affiliates | -5 | -6 | · | We are not a member of EFH Corp.’s consolidated tax group, but EFH Corp.’s consolidated federal income tax return includes EFH Corp.’s portion of our results due to EFH Corp.’s equity ownership in us. Under the terms of a tax sharing agreement among us, Oncor Holdings, Texas Transmission, Investment LLC and EFH Corp., we are generally obligated to make payments to Texas Transmission, Investment LLC and EFH Corp., pro rata in accordance with their respective membership interests, in an aggregate amount that is substantially equal to the amount of federal income taxes that we would have been required to pay if we were filing our own corporate income tax return. For periods prior to the tax sharing agreement (entered into in October 2007 and amended and restated in November 2008), we are responsible for our share of redetermined tax liability for the EFH Corp. consolidated tax group. EFH Corp. also includes our results in its consolidated Texas margin tax payments, which are accounted for as income taxes and calculated as if we were filing our own return. See discussion in Note 1 under “Income Taxes.” Under the “in lieu of” tax concept, all in lieu of tax assets and tax liabilities represent amounts that will eventually be settled with our members. | ||||||||||||||||||||||||||||||||
Trade accounts and other receivables from affiliates – net | $ | 152 | $ | 135 | ||||||||||||||||||||||||||||||||
Amounts payable to (receivable from) members related to income taxes under the agreement and reported on our balance sheet consisted of the following: | ||||||||||||||||||||||||||||||||||||
· | EFH Corp. subsidiaries charge us for certain administrative services at cost. Our payments to EFH Corp. subsidiaries for administrative services, which are primarily reported in operation and maintenance expenses, totaled $7 million and $8 million for the three months ended September 30, 2014 and 2013, respectively, and $22 million for each of the nine-month periods ended September 30, 2014 and 2013. We also charge each other for shared facilities at cost. Our payments to EFH Corp. for shared facilities totaled $1 million for the each of the three-month periods ended September 30, 2014 and 2013 and $3 million for the each of the nine-month periods ended September 30, 2014 and 2013. Payments we received from EFH Corp. subsidiaries related to shared facilities totaled less than $1 million for each of the three months ended September 30, 2014 and 2013, and $2 million and $1 million for the nine months ended September 30, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||
· | Through June 30, 2014, we participated in the Energy Future Holdings Health and Welfare Benefit Program, which provided employee benefits to our workforce. In October 2013, we notified EFH Corp. of our intention to withdraw from the benefit program effective June 30, 2014 and entered into an agreement with EFH Corp. pursuant to which, we agreed to pay EFH Corp. $1 million to reimburse EFH Corp. for its increased costs under the program as a result of our withdrawal from the program and the additional administrative work required to effectuate our withdrawal from the benefit program and transition to the new benefit program. This one-time payment was paid to EFH Corp. in June 2014. In April 2014, we entered into a welfare benefit administration agreement with EFH Corp., pursuant to which EFH Corp. will continue to provide us with welfare benefit administration services under our new benefit plans from July 1, 2014 until December 31, 2014. These amounts are included in the administrative services payments to EFH Corp. subsidiaries reported above. | At December 31, 2013 | At December 31, 2012 | |||||||||||||||||||||||||||||||||
EFH Corp. | Texas Transmission | Total | EFH Corp. | Texas Transmission | Total | |||||||||||||||||||||||||||||||
· | We are not a member of EFH Corp.’s consolidated tax group, but EFH Corp.’s consolidated federal income tax return includes EFH Corp.’s portion of our results due to EFH Corp.’s equity ownership in us. Under the terms of a tax sharing agreement among us, Oncor Holdings, Texas Transmission, Investment LLC and EFH Corp., we are generally obligated to make payments to Texas Transmission, Investment LLC and EFH Corp., pro rata in accordance with their respective membership interests, in an aggregate amount that is substantially equal to the amount of federal income taxes that we would have been required to pay if we were filing our own corporate income tax return. For periods prior to the tax sharing agreement (entered into in October 2007 and amended and restated in November 2008), we are responsible for our share, if any, of redetermined tax liability for the EFH Corp. consolidated tax group. EFH Corp. also includes our results in its consolidated Texas margin tax payments, which are accounted for as income taxes and calculated as if we were filing our own return. See discussion in Note 1 to Financial Statements in our 2013 Form 10-K under “Income Taxes.” Under the “in lieu of” tax concept, all in lieu of tax assets and tax liabilities represent amounts that will eventually be settled with our members. | Federal income taxes | $ | -18 | $ | -5 | $ | -23 | $ | - | $ | - | $ | - | ||||||||||||||||||||||
Texas margin taxes | 23 | - | 23 | 22 | - | 22 | ||||||||||||||||||||||||||||||
Amounts payable to (receivable from) members related to income taxes under the tax sharing agreement and reported on our balance sheet consisted of the following: | Total payable (receivable) | $ | 5 | $ | -5 | $ | - | $ | 22 | $ | - | $ | 22 | |||||||||||||||||||||||
Cash payments made to (received from) members related to income taxes consisted of the following: | ||||||||||||||||||||||||||||||||||||
At September 30, 2014 | At December 31, 2013 | |||||||||||||||||||||||||||||||||||
EFH Corp. | Texas Transmission | Total | EFH Corp. | Texas Transmission | Total | Year Ended December 31, 2013 | Year Ended December 31, 2012 | |||||||||||||||||||||||||||||
EFH Corp. | Texas Transmission | Total | EFH Corp. | Texas Transmission | Total | |||||||||||||||||||||||||||||||
Federal income taxes receivable | $ | - | $ | - | $ | - | $ | -18 | $ | -5 | $ | -23 | Federal income taxes (a) | $ | 78 | $ | 11 | $ | 89 | $ | -18 | $ | -5 | $ | -23 | |||||||||||
Federal income taxes payable | 38 | 9 | 47 | - | - | - | Texas margin taxes (b) | 12 | - | 12 | 21 | - | 21 | |||||||||||||||||||||||
Texas margin taxes payable | 18 | - | 18 | 23 | - | 23 | Total payments (receipts) | $ | 90 | $ | 11 | $ | 101 | $ | 3 | $ | -5 | $ | -2 | |||||||||||||||||
Net payable (receivable) | $ | 56 | $ | 9 | $ | 65 | $ | 5 | $ | -5 | $ | - | ______________ | |||||||||||||||||||||||
(a) | Includes $33 million payment made to EFH Corp. in 2013 related to the 1997-2002 IRS appeals settlement. | |||||||||||||||||||||||||||||||||||
(b) | Includes $10 million refund received from EFH Corp. in 2013 related to 1997-2001 amended Texas franchise tax returns. | |||||||||||||||||||||||||||||||||||
Cash payments made to (received from) members related to income taxes consisted of the following: | ||||||||||||||||||||||||||||||||||||
· | Our PUCT-approved tariffs include requirements to assure adequate credit worthiness of any REP to support the REP’s obligation to collect transition bond-related charges on behalf of Bondco. Under these tariffs, as a result of TCEH’s credit rating being below investment grade, TCEH is required to post collateral support in an amount equal to estimated transition charges over specified time periods. Accordingly, at December 31, 2013 and 2012, TCEH had posted letters of credit in the amount of $9 million and $11 million, respectively, for our benefit. | |||||||||||||||||||||||||||||||||||
· | In connection with assuming sponsorship of the Oncor Retirement Plan in 2012, we entered into an agreement with EFH Corp. to assume primary responsibility for retirement benefits of a closed group of retired and terminated vested retirement plan participants not related to our regulated utility business. As the Oncor Retirement Plan received an amount of plan assets equal to the liabilities we assumed for those participants, execution of the agreement did not have a material impact on our reported results of operations or financial condition. See Note 9 for further information regarding funding for the pension plans. | |||||||||||||||||||||||||||||||||||
Nine Months Ended | Nine Months Ended | · | As discussed in Note 1, EFH Corp. and other members of the Texas Holdings Group have engaged in discussions with certain unaffiliated creditors regarding possible restructuring transactions involving those entities. The US Bankruptcy Code permits a debtor in bankruptcy to assume or reject executory contracts and unexpired leases. If members of the Texas Holdings Group were to become debtors in a bankruptcy case and determined to reject some or all of their executory contracts and unexpired leases with us, our results of operations and financial condition could be adversely affected. At December 31, 2013, our exposure to the Texas Holdings Group with respect to executory contracts and unexpired leases totaled approximately $20 million. | |||||||||||||||||||||||||||||||||
30-Sep-14 | 30-Sep-13 | |||||||||||||||||||||||||||||||||||
EFH Corp. | Texas Transmission | Total | EFH Corp. | Texas Transmission | Total | · | Affiliates of the Sponsor Group have, and from time-to-time may in the future (1) sell, acquire or participate in the offerings of our debt or debt securities in open market transactions or through loan syndications, and (2) perform various financial advisory, dealer, commercial banking and investment banking services for us and certain of our affiliates for which they have received or will receive customary fees and expenses. | |||||||||||||||||||||||||||||
Federal income taxes | $ | 140 | $ | 35 | $ | 175 | $ | 48 | $ | 4 | $ | 52 | See Notes 3, 8 and 9 for information regarding the tax sharing agreement, distributions to members and our participation in EFH Corp. pension and OPEB plans, respectively. | |||||||||||||||||||||||
Texas margin taxes | 23 | - | 23 | 12 | - | 12 | ||||||||||||||||||||||||||||||
Total payments (receipts) | $ | 163 | $ | 35 | $ | 198 | $ | 60 | $ | 4 | $ | 64 | ||||||||||||||||||||||||
· | Our PUCT-approved tariffs include requirements to assure adequate credit worthiness of any REP to support the REP’s obligation to collect transition bond-related charges on behalf of Bondco. Under these tariffs, as a result of TCEH’s credit rating being below investment grade, TCEH is required to post collateral support in an amount equal to estimated transition charges over specified time periods. Accordingly, at both September 30, 2014 and December 31, 2013, TCEH had posted security in the amount of $9 million for our benefit. | |||||||||||||||||||||||||||||||||||
· | Under Texas regulatory provisions, the trust fund for decommissioning TCEH’s Comanche Peak nuclear generation facility is funded by a delivery fee surcharge we collect from REPs and remit monthly to TCEH. Delivery fee surcharges totaled $5 million for each of the three-month periods ended September 30, 2014 and 2013 and $13 million and $12 million for the nine months ended September 30, 2014 and 2013, respectively. Our sole obligation with regard to nuclear decommissioning is as the collection agent of funds charged to ratepayers for nuclear decommissioning activities. If, at the time of decommissioning, actual decommissioning costs exceed available trust funds, we would not be obligated to pay any shortfalls but would be required to collect any rates approved by the PUCT to recover any additional decommissioning costs. Further, if there were to be a surplus when decommissioning is complete, such surplus would be returned to ratepayers under terms prescribed by the PUCT. | |||||||||||||||||||||||||||||||||||
· | Affiliates of the Sponsor Group have (1) sold, acquired or participated in the offerings of our debt or debt securities in open market transactions or through loan syndications, and (2) performed various financial advisory, dealer, commercial banking and investment banking services for us and certain of our affiliates for which they have received or will receive customary fees and expenses, and may from time to time in the future participate in any of the items in (1) and (2) above. | |||||||||||||||||||||||||||||||||||
See Note 8 for information regarding distributions to members and Note 9 for information regarding our participation in EFH Corp. pension and OPEB plans and transactions with EFH Corp. involving employee benefit matters. | ||||||||||||||||||||||||||||||||||||
Supplementary_Financial_Inform
Supplementary Financial Information | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||
Supplementary Financial Information [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||
SUPPLEMENTARY FINANCIAL INFORMATION | ' | ' | ||||||||||||||||||||||||||||||||||
11. SUPPLEMENTARY FINANCIAL INFORMATION | 12. SUPPLEMENTARY FINANCIAL INFORMATION | |||||||||||||||||||||||||||||||||||
Major Customers | Variable Interest Entities | |||||||||||||||||||||||||||||||||||
Revenues from TCEH represented 27% and 28% of our total operating revenues for the three months ended September 30, 2014 and 2013, respectively, and 26% and 28% of our total operating revenues for the nine months ended September 30, 2014 and 2013, respectively. Revenues from REP subsidiaries of NRG Energy, Inc., a nonaffiliated entity, collectively represented 17% and 16% of our total operating revenues for the three months ended September 30, 2014 and 2013, respectively, and 16% and 15% of our total operating revenues for the nine months ended September 30, 2014 and 2013, respectively. No other customer represented 10% or more of our total operating revenues. | We are the primary beneficiary and consolidate a wholly-owned VIE, Bondco, which was organized for the limited purpose of issuing specific transition bonds and purchasing and owning transition property acquired from us that is pledged as collateral to secure the bonds. We act as the servicer for this entity to collect transition charges authorized by the PUCT. These funds are remitted to the trustee and used for interest and principal payments on the transition bonds and related costs. | |||||||||||||||||||||||||||||||||||
Other Income and Deductions | The material assets and liabilities of Bondco are presented separately on the face of our Consolidated Balance Sheet because the assets are restricted and can only be used to settle the obligations of Bondco, and Bondco’s creditors do not have recourse to our general credit or assets. | |||||||||||||||||||||||||||||||||||
Our maximum exposure does not exceed our equity investment in Bondco, which was $16 million at both December 31, 2013 and 2012. We did not provide any financial support to Bondco during the years ended December 31, 2013 and 2012. | ||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended | |||||||||||||||||||||||||||||||||||
September 30, | Major Customers | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||
Revenues from TCEH represented 27%, 29% and 33% of our total operating revenues for the years ended December 31, 2013, 2012 and 2011, respectively. Revenues from REP subsidiaries of a nonaffiliated entity, collectively represented 15% of total operating revenues for each of the years ended December 31, 2013, 2012 and 2011. No other customer represented 10% or more of our total operating revenues. | ||||||||||||||||||||||||||||||||||||
Other income: | ||||||||||||||||||||||||||||||||||||
Accretion of fair value adjustment (discount) to regulatory assets due to purchase accounting | $ | 3 | $ | 4 | $ | 9 | $ | 14 | Other Income and Deductions | |||||||||||||||||||||||||||
Other | - | - | 1 | - | ||||||||||||||||||||||||||||||||
Total other income | $ | 3 | $ | 4 | $ | 10 | $ | 14 | ||||||||||||||||||||||||||||
Other deductions: | Year Ended December 31, | |||||||||||||||||||||||||||||||||||
Professional fees | $ | 3 | $ | 2 | $ | 10 | $ | 8 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
Other | 1 | - | 1 | 3 | Other income: | |||||||||||||||||||||||||||||||
Total other deductions | $ | 4 | $ | 2 | $ | 11 | $ | 11 | Accretion of fair value adjustment (discount) to regulatory assets due to purchase accounting | $ | 17 | $ | 23 | $ | 29 | |||||||||||||||||||||
Net gain on sale of other properties and investments | 1 | 3 | 1 | |||||||||||||||||||||||||||||||||
Interest Expense and Related Charges | Total other income | $ | 18 | $ | 26 | $ | 30 | |||||||||||||||||||||||||||||
Other deductions: | ||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended | Professional fees | $ | 3 | $ | 3 | $ | 4 | ||||||||||||||||||||||||||||
September 30, | SARs exercise (Note 10) | 2 | 57 | - | ||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | Other | 10 | 4 | 5 | |||||||||||||||||||||||||||||
Total other deductions | $ | 15 | $ | 64 | $ | 9 | ||||||||||||||||||||||||||||||
Interest expense | $ | 89 | $ | 90 | $ | 267 | $ | 270 | ||||||||||||||||||||||||||||
Amortization of debt issuance costs and discounts | 1 | 6 | 2 | 21 | ||||||||||||||||||||||||||||||||
Allowance for funds used during construction – capitalized interest portion | -1 | -2 | -3 | -8 | Interest Expense and Related Charges | |||||||||||||||||||||||||||||||
Total interest expense and related charges | $ | 89 | $ | 94 | $ | 266 | $ | 283 | ||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||||||||||
Restricted Cash | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||
All restricted cash amounts reported on our balance sheet at September 30, 2014 and December 31, 2013 relate to the transition bonds. | Interest expense | $ | 360 | $ | 366 | $ | 359 | |||||||||||||||||||||||||||||
Amortization of debt issuance costs and discounts | 21 | 18 | 3 | |||||||||||||||||||||||||||||||||
Trade Accounts Receivable | Allowance for funds used during construction – capitalized interest portion | -10 | -10 | -3 | ||||||||||||||||||||||||||||||||
Total interest expense and related charges | $ | 371 | $ | 374 | $ | 359 | ||||||||||||||||||||||||||||||
Trade accounts receivable reported on our balance sheet consisted of the following: | ||||||||||||||||||||||||||||||||||||
Restricted Cash | ||||||||||||||||||||||||||||||||||||
At September 30, | At December 31, | |||||||||||||||||||||||||||||||||||
2014 | 2013 | Restricted cash amounts reported on our balance sheet consisted of the following: | ||||||||||||||||||||||||||||||||||
Gross trade accounts receivable | $ | 626 | $ | 527 | At December 31, 2013 | At December 31, 2012 | ||||||||||||||||||||||||||||||
Trade accounts receivable from TCEH | -154 | -139 | Current Assets | Noncurrent Assets | Current Assets | Noncurrent Assets | ||||||||||||||||||||||||||||||
Allowance for uncollectible accounts | -3 | -3 | ||||||||||||||||||||||||||||||||||
Trade accounts receivable from nonaffiliates – net | $ | 469 | $ | 385 | Customer collections related to transition bonds used only to service debt and pay expenses | $ | 52 | $ | - | $ | 55 | $ | - | |||||||||||||||||||||||
Reserve for fees associated with transition bonds | - | 10 | - | 10 | ||||||||||||||||||||||||||||||||
Gross trade accounts receivable at September 30, 2014 and December 31, 2013 included unbilled revenues of $165 million and $180 million, respectively. At September 30, 2014 and December 31, 2013, REP subsidiaries of NRG Energy, Inc., a nonaffiliated entity, collectively represented approximately 14% and 12% of the nonaffiliated trade accounts receivable amount, respectively. | Reserve for shortfalls of transition bond charges | - | 6 | - | 6 | |||||||||||||||||||||||||||||||
Total restricted cash | $ | 52 | $ | 16 | $ | 55 | $ | 16 | ||||||||||||||||||||||||||||
Under a PUCT rule relating to the Certification of Retail Electric Providers, write-offs of uncollectible amounts owed by REPs are deferred as a regulatory asset. Due to commitments made to the PUCT in 2007, we are not allowed to recover bad debt expense, or certain other costs and expenses, from ratepayers in the event of a default or bankruptcy by an affiliate REP. | ||||||||||||||||||||||||||||||||||||
Trade Accounts Receivable | ||||||||||||||||||||||||||||||||||||
Investments and Other Property | ||||||||||||||||||||||||||||||||||||
Trade accounts receivable reported on our balance sheet consisted of the following: | ||||||||||||||||||||||||||||||||||||
Investments and other property reported on our balance sheet consisted of the following: | ||||||||||||||||||||||||||||||||||||
At December 31, | ||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||
At September 30, | At December 31, | Gross trade accounts receivable | $ | 527 | $ | 395 | ||||||||||||||||||||||||||||||
2014 | 2013 | Trade accounts receivable from TCEH | -139 | -55 | ||||||||||||||||||||||||||||||||
Allowance for uncollectible accounts | -3 | -2 | ||||||||||||||||||||||||||||||||||
Assets related to employee benefit plans, including employee savings | $ | 93 | $ | 88 | Trade accounts receivable from nonaffiliates – net | $ | 385 | $ | 338 | |||||||||||||||||||||||||||
programs | ||||||||||||||||||||||||||||||||||||
Land | 3 | 3 | Gross trade accounts receivable at December 31, 2013 and 2012 included unbilled revenues of $180 million and $147 million, respectively. At both December 31, 2013 and 2012, REP subsidiaries of a nonaffiliated entity collectively represented approximately 12% of the nonaffiliated trade accounts receivable amount. Trade accounts receivable from TCEH at December 31, 2012 reflects timing of payments in 2012. | |||||||||||||||||||||||||||||||||
Total investments and other property | $ | 96 | $ | 91 | ||||||||||||||||||||||||||||||||
Under a PUCT rule relating to the Certification of Retail Electric Providers, write-offs of uncollectible amounts owed by REPs are deferred as a regulatory asset. Due to commitments made to the PUCT in 2007, we are not allowed to recover bad debt expense, or certain other costs and expenses, from ratepayers in the event of a default or bankruptcy by an affiliate REP. | ||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment | ||||||||||||||||||||||||||||||||||||
Investments and Other Property | ||||||||||||||||||||||||||||||||||||
Property, plant and equipment reported on our balance sheet consisted of the following: | ||||||||||||||||||||||||||||||||||||
Investments and other property reported on our balance sheet consisted of the following: | ||||||||||||||||||||||||||||||||||||
At September 30, | At December 31, | At December 31, | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||||||||||
Assets related to employee benefit plans, including employee savings programs | $ | 88 | $ | 80 | ||||||||||||||||||||||||||||||||
Total assets in service | $ | 17,938 | $ | 17,056 | Land | 3 | 3 | |||||||||||||||||||||||||||||
Less accumulated depreciation | 6,030 | 5,725 | Total investments and other property | $ | 91 | $ | 83 | |||||||||||||||||||||||||||||
Net of accumulated depreciation | 11,908 | 11,331 | ||||||||||||||||||||||||||||||||||
Construction work in progress | 347 | 556 | The majority of these assets represent cash surrender values of life insurance policies that are purchased to fund liabilities under deferred compensation plans. At December 31, 2013 and 2012, the face amount of these policies totaled $159 million and $152 million, respectively, and the net cash surrender values (determined using a Level 2 valuation technique) totaled $71 million and $65 million, respectively. Changes in cash surrender value are netted against premiums paid. Other investment assets held to satisfy deferred compensation liabilities are recorded at market value. | |||||||||||||||||||||||||||||||||
Held for future use | 15 | 15 | ||||||||||||||||||||||||||||||||||
Property, plant and equipment – net | $ | 12,270 | $ | 11,902 | Property, Plant and Equipment | |||||||||||||||||||||||||||||||
Property, plant and equipment reported on our balance sheet consisted of the following: | ||||||||||||||||||||||||||||||||||||
Intangible Assets | ||||||||||||||||||||||||||||||||||||
Intangible assets (other than goodwill) reported on our balance sheet consisted of the following: | Composite Depreciation Rate/ | At December 31, | ||||||||||||||||||||||||||||||||||
Avg. Life at December 31, 2013 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Assets in service: | ||||||||||||||||||||||||||||||||||||
At September 30, 2014 | At December 31, 2013 | Distribution | 4.1% / 24.6 years | $ | 10,055 | $ | 9,745 | |||||||||||||||||||||||||||||
Gross | Gross | Transmission | 2.8% / 35.8 years | 6,133 | 5,482 | |||||||||||||||||||||||||||||||
Carrying | Accumulated | Carrying | Accumulated | Other assets | 9.1% / 11.0 years | 868 | 856 | |||||||||||||||||||||||||||||
Amount | Amortization | Net | Amount | Amortization | Net | Total | 17,056 | 16,083 | ||||||||||||||||||||||||||||
Less accumulated depreciation | 5,725 | 5,407 | ||||||||||||||||||||||||||||||||||
Identifiable intangible assets subject to amortization included in property, plant and equipment: | Net of accumulated depreciation | 11,331 | 10,676 | |||||||||||||||||||||||||||||||||
Land easements | $ | 452 | $ | 85 | $ | 367 | $ | 440 | $ | 82 | $ | 358 | Construction work in progress | 556 | 627 | |||||||||||||||||||||
Capitalized software | 422 | 228 | 194 | 385 | 189 | 196 | Held for future use | 15 | 15 | |||||||||||||||||||||||||||
Total | $ | 874 | $ | 313 | $ | 561 | $ | 825 | $ | 271 | $ | 554 | Property, plant and equipment – net | $ | 11,902 | $ | 11,318 | |||||||||||||||||||
Aggregate amortization expense for intangible assets totaled $15 million and $8 million for the three months ended September 30, 2014 and 2013, respectively, and $42 million and $38 million for the nine months ended September 30, 2014 and 2013, respectively. The estimated aggregate amortization expense for each of the next five fiscal years from December 31, 2013 is as follows: | Depreciation expense as a percent of average depreciable property approximated 3.7%, 3.9% and 4.0% for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||||||||||||||||||||
Intangible Assets | ||||||||||||||||||||||||||||||||||||
Year | Amortization Expense | Intangible assets (other than goodwill) reported on our balance sheet consisted of the following: | ||||||||||||||||||||||||||||||||||
2014 | $ | 58 | ||||||||||||||||||||||||||||||||||
2015 | 60 | |||||||||||||||||||||||||||||||||||
2016 | 57 | |||||||||||||||||||||||||||||||||||
2017 | 49 | At December 31, 2013 | At December 31, 2012 | |||||||||||||||||||||||||||||||||
2018 | 45 | Gross | Gross | |||||||||||||||||||||||||||||||||
Carrying | Accumulated | Carrying | Accumulated | |||||||||||||||||||||||||||||||||
At both September 30, 2014 and December 31, 2013, goodwill totaling $4.1 billion was reported on our balance sheet. None of this goodwill is being deducted for tax purposes. | Amount | Amortization | Net | Amount | Amortization | Net | ||||||||||||||||||||||||||||||
Identifiable intangible assets subject to amortization included in property, plant and equipment: | ||||||||||||||||||||||||||||||||||||
Other Noncurrent Liabilities and Deferred Credits | Land easements | $ | 440 | $ | 82 | $ | 358 | $ | 295 | $ | 79 | $ | 216 | |||||||||||||||||||||||
Capitalized software | 385 | 189 | 196 | 409 | 220 | 189 | ||||||||||||||||||||||||||||||
Other noncurrent liabilities and deferred credits reported on our balance sheet consisted of the following: | Total | $ | 825 | $ | 271 | $ | 554 | $ | 704 | $ | 299 | $ | 405 | |||||||||||||||||||||||
Aggregate amortization expense for intangible assets totaled $53 million, for each of the years ended December 31, 2013 and 2012 and $48 million for the year ended December 31, 2011. At December 31, 2013, the weighted average remaining useful lives of capitalized land easements and software were 85 years and 4 years, respectively. The estimated aggregate amortization expense for each of the next five fiscal years is as follows: | ||||||||||||||||||||||||||||||||||||
At September 30, | At December 31, | |||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Retirement plans and other employee benefits | $ | 1,434 | $ | 1,399 | Year | Amortization Expense | ||||||||||||||||||||||||||||||
Uncertain tax positions (including accrued interest) | 37 | 56 | 2014 | $ | 55 | |||||||||||||||||||||||||||||||
Amount payable related to income taxes | 17 | 17 | 2015 | 55 | ||||||||||||||||||||||||||||||||
Investment tax credits | 18 | 20 | 2016 | 52 | ||||||||||||||||||||||||||||||||
Other | 72 | 62 | 2017 | 44 | ||||||||||||||||||||||||||||||||
Total other noncurrent liabilities and deferred credits | $ | 1,578 | $ | 1,554 | 2018 | 40 | ||||||||||||||||||||||||||||||
In the first and third quarters of 2014, several uncertain tax positions were remeasured under US GAAP guidance as a result of new information received from the IRS with respect to the audit of tax years 2007 through 2009. As a result, we reduced the liability for uncertain tax positions by $19 million. This reduction consisted of a $15 million increase to liability in lieu of deferred income taxes, a $2 million reversal of provision in lieu of income taxes and a $2 million ($1 million after tax) reversal of accrued interest, which is reported as a decrease in provision in lieu of income taxes. In September 2014, EFH Corp. signed the final agreed Revenue Agent Report and associated documentation (RAR) for the 2007 tax year and filed a motion seeking bankruptcy court approval of its signing of the RAR. Such approval was granted on October 27, 2014. | At both December 31, 2013 and 2012, goodwill totaling $4.1 billion was reported on our balance sheet. None of this goodwill is being deducted for tax purposes. See Note 1 regarding goodwill impairment assessment and testing. | |||||||||||||||||||||||||||||||||||
Supplemental Cash Flow Information | Other Noncurrent Liabilities and Deferred Credits | |||||||||||||||||||||||||||||||||||
Other noncurrent liabilities and deferred credits reported on our balance sheet consisted of the following: | ||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
At December 31, | ||||||||||||||||||||||||||||||||||||
Cash payments (receipts) related to: | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Interest | $ | 296 | $ | 300 | Retirement plans and other employee benefits | $ | 1,399 | $ | 1,495 | |||||||||||||||||||||||||||
Capitalized interest | -3 | -8 | Uncertain tax positions (including accrued interest) | 56 | 169 | |||||||||||||||||||||||||||||||
Interest (net of amounts capitalized) | $ | 293 | $ | 292 | Amount payable related to income taxes | 17 | - | |||||||||||||||||||||||||||||
Amount in lieu of income taxes (a): | Investment tax credits | 20 | 24 | |||||||||||||||||||||||||||||||||
Federal | $ | 175 | $ | 52 | Other | 62 | 58 | |||||||||||||||||||||||||||||
State | 23 | 12 | Total other noncurrent liabilities and deferred credits | $ | 1,554 | $ | 1,746 | |||||||||||||||||||||||||||||
Total amount in lieu of income taxes | $ | 198 | $ | 64 | ||||||||||||||||||||||||||||||||
Noncash construction expenditures (b) | $ | 34 | $ | 55 | Supplemental Cash Flow Information | |||||||||||||||||||||||||||||||
_____________ | ||||||||||||||||||||||||||||||||||||
(a) | See Note 10 for additional information regarding income taxes. | |||||||||||||||||||||||||||||||||||
(b) | Represents end-of-period accruals. | Year Ended December 31, | ||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||
Cash payments (receipts) related to: | ||||||||||||||||||||||||||||||||||||
Interest | $ | 361 | $ | 378 | $ | 360 | ||||||||||||||||||||||||||||||
Capitalized interest | -10 | -10 | -3 | |||||||||||||||||||||||||||||||||
Interest (net of amounts capitalized) | 351 | 368 | 357 | |||||||||||||||||||||||||||||||||
Amount in lieu of income taxes: | ||||||||||||||||||||||||||||||||||||
Federal | 89 | -23 | -134 | |||||||||||||||||||||||||||||||||
State | 12 | 21 | 20 | |||||||||||||||||||||||||||||||||
Total amount in lieu of income taxes | 101 | -2 | -114 | |||||||||||||||||||||||||||||||||
SARs exercise | 4 | 64 | - | |||||||||||||||||||||||||||||||||
Noncash construction expenditures (a) | 84 | 103 | 140 | |||||||||||||||||||||||||||||||||
______________ | ||||||||||||||||||||||||||||||||||||
(a)Represents end-of-period accruals. | ||||||||||||||||||||||||||||||||||||
Quarterly Information (unaudited) | ||||||||||||||||||||||||||||||||||||
Results of operations by quarter for the years ended December 31, 2013 and 2012 are summarized below. In our opinion, all adjustments (consisting of normal recurring accruals) necessary for a fair statement of such amounts have been made. Quarterly results are not necessarily indicative of a full year’s operations because of seasonal and other factors. | ||||||||||||||||||||||||||||||||||||
2013 | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | ||||||||||||||||||||||||||||||||
Operating revenues | $ | 817 | $ | 857 | $ | 966 | $ | 912 | ||||||||||||||||||||||||||||
Operating income | 180 | 189 | 239 | 190 | ||||||||||||||||||||||||||||||||
Net income | 87 | 96 | 146 | 103 | ||||||||||||||||||||||||||||||||
2012 | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | ||||||||||||||||||||||||||||||||
Operating revenues | $ | 783 | $ | 828 | $ | 925 | $ | 792 | ||||||||||||||||||||||||||||
Operating income | 157 | 188 | 230 | 156 | ||||||||||||||||||||||||||||||||
Net income (a) | 75 | 107 | 139 | 28 | ||||||||||||||||||||||||||||||||
______________ | ||||||||||||||||||||||||||||||||||||
(a)Fourth quarter 2012 reflects a $57 million pre-tax charge to expense associated with the SARs settlement (see Note 10). | ||||||||||||||||||||||||||||||||||||
Business_And_Significant_Accou1
Business And Significant Accounting Policies (Policies) | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2014 | Dec. 31, 2013 | ||||
Business And Significant Accounting Policies [Abstract] | ' | ' | |||
Description Of Business | ' | ' | |||
Description of Business | Description of Business | ||||
References in this report to “we,” “our,” “us” and “the company” are to Oncor and/or its subsidiary as apparent in the context. See “Glossary” for definition of terms and abbreviations. | References in this report to “we,” “our,” “us” and “the company” are to Oncor and/or its subsidiary as apparent in the context. See “Glossary” for definition of terms and abbreviations. | ||||
We are a regulated electricity transmission and distribution company principally engaged in providing delivery services to REPs, including subsidiaries of TCEH, that sell power in the north-central, eastern and western parts of Texas. Revenues from TCEH represented 26% and 28% of our total operating revenues for the nine months ended September 30, 2014 and 2013, respectively. We are a direct, majority-owned subsidiary of Oncor Holdings, which is a direct, wholly-owned subsidiary of EFIH, a direct, wholly-owned subsidiary of EFH Corp. EFH Corp. is a subsidiary of Texas Holdings, which is controlled by the Sponsor Group. Oncor Holdings owns 80.03% of our membership interests, Texas Transmission owns 19.75% of our membership interests and certain members of our management team and board of directors indirectly own the remaining membership interests through Investment LLC. We are managed as an integrated business; consequently, there are no separate reportable business segments. | We are a regulated electricity transmission and distribution company principally engaged in providing delivery services to REPs, including subsidiaries of TCEH, that sell power in the north-central, eastern and western parts of Texas. Revenues from TCEH represented 27%, 29% and 33% of our total operating revenues for the years ended December 31, 2013, 2012 and 2011, respectively. We are a direct, majority-owned subsidiary of Oncor Holdings, which is a direct, wholly-owned subsidiary of EFIH, a direct, wholly-owned subsidiary of EFH Corp. EFH Corp. is a subsidiary of Texas Holdings, which is controlled by the Sponsor Group. Oncor Holdings owns 80.03% of our membership interests, Texas Transmission owns 19.75% of our membership interests and certain members of our management team and board of directors indirectly own the remaining membership interests through Investment LLC. We are managed as an integrated business; consequently, there are no separate reportable business segments. | ||||
Our consolidated financial statements include our wholly-owned, bankruptcy-remote financing subsidiary, Bondco, a variable interest entity. This financing subsidiary was organized for the limited purpose of issuing certain transition bonds in 2003 and 2004. Bondco issued $1.3 billion principal amount of transition bonds to recover generation-related regulatory asset stranded costs and other qualified costs under an order issued by the PUCT in 2002. | Our consolidated financial statements include our wholly-owned, bankruptcy-remote financing subsidiary, Bondco, a VIE (see Note 12). This financing subsidiary was organized for the limited purpose of issuing certain transition bonds to recover generation-related regulatory asset stranded costs and other qualified costs under an order issued by the PUCT in 2002. Bondco issued an aggregate $1.3 billion principal amount of transition bonds during 2003 and 2004. | ||||
Various “ring-fencing” measures have been taken to enhance the separateness between the Oncor Ring-Fenced Entities and the Texas Holdings Group and our credit quality. These measures serve to mitigate our and Oncor Holdings’ credit exposure to the Texas Holdings Group and to reduce the risk that our assets and liabilities or those of Oncor Holdings would be substantively consolidated with the assets and liabilities of the Texas Holdings Group in connection with a bankruptcy of one or more of those entities. Such measures include, among other things: our sale of a 19.75% equity interest to Texas Transmission in November 2008; maintenance of separate books and records for the Oncor Ring-Fenced Entities; our board of directors being comprised of a majority of independent directors; and prohibitions on the Oncor Ring-Fenced Entities providing credit support to, or receiving credit support from, any member of the Texas Holdings Group. The assets and liabilities of the Oncor Ring-Fenced Entities are separate and distinct from those of the Texas Holdings Group, including TXU Energy and Luminant, and none of the assets of the Oncor Ring-Fenced Entities are available to satisfy the debt or contractual obligations of any member of the Texas Holdings Group. We do not bear any liability for debt or contractual obligations of the Texas Holdings Group, and vice versa. Accordingly, our operations are conducted, and our cash flows are managed, independently from the Texas Holdings Group. | Various “ring-fencing” measures have been taken to enhance the separateness between the Oncor Ring-Fenced Entities and the Texas Holdings Group and our credit quality. These measures serve to mitigate our and Oncor Holdings’ credit exposure to the Texas Holdings Group and to reduce the risk that our assets and liabilities or those of Oncor Holdings would be substantively consolidated with the assets and liabilities of the Texas Holdings Group in the event of a bankruptcy of one or more of those entities. Such measures include, among other things: our sale of a 19.75% equity interest to Texas Transmission in November 2008; maintenance of separate books and records for the Oncor Ring-Fenced Entities; our board of directors being comprised of a majority of independent directors; and prohibitions on the Oncor Ring-Fenced Entities providing credit support to, or receiving credit support from, any member of the Texas Holdings Group. The assets and liabilities of the Oncor Ring-Fenced Entities are separate and distinct from those of the Texas Holdings Group, including TXU Energy and Luminant, and none of the assets of the Oncor Ring-Fenced Entities are available to satisfy the debt or contractual obligations of any member of the Texas Holdings Group. We do not bear any liability for debt or contractual obligations of the Texas Holdings Group, and vice versa. Accordingly, our operations are conducted, and our cash flows are managed, independently from the Texas Holdings Group. | ||||
As noted in SEC filings made by members of the Texas Holdings Group, EFH Corp. and other members of the Texas Holdings Group have engaged in discussions with certain unaffiliated creditors regarding certain of those entities’ capital structures and long-term liquidity, as well as possible restructuring transactions involving those entities. We believe the “ring-fencing” measures discussed above mitigate our exposure to a bankruptcy or other restructuring transaction involving members of the Texas Holdings Group. | |||||
EFH Corp. Bankruptcy Proceedings | ' | ' | |||
EFH Corp. Bankruptcy Proceedings | |||||
On the EFH Petition Date, EFH Corp. and the substantial majority of its direct and indirect subsidiaries that are members of the Texas Holdings Group, including EFIH, EFCH and TCEH, commenced proceedings under Chapter 11 of the US Bankruptcy Code. The Oncor Ring-Fenced Entities are not parties to the EFH Bankruptcy Proceedings. We believe the “ring-fencing” measures discussed above mitigate our potential exposure to the EFH Bankruptcy Proceedings. See Note 2 for a discussion of the potential impacts of the EFH Bankruptcy Proceedings on our financial statements. | |||||
Basis Of Presentation | ' | ' | |||
Basis of Presentation | Basis of Presentation | ||||
Our condensed consolidated financial statements have been prepared in accordance with US GAAP and on the same basis as the audited financial statements in our 2013 Form 10-K. Adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the results of operations and financial position have been included therein. All intercompany items and transactions have been eliminated in consolidation. Certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with US GAAP have been omitted pursuant to the rules and regulations of the SEC. Because the condensed consolidated interim financial statements do not include all of the information and footnotes required by US GAAP, they should be read in conjunction with the audited financial statements and related notes in our 2013 Form 10-K. The results of operations for an interim period may not give a true indication of results for a full year due to seasonality. All dollar amounts in the financial statements and tables in the notes are stated in millions of US dollars unless otherwise indicated. | Our consolidated financial statements have been prepared in accordance with US GAAP and on the same basis as the audited financial statements in our Annual Report on Form 10-K for the year ended December 31, 2012. Adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the results of operations and financial position have been included therein. All intercompany items and transactions have been eliminated in consolidation. All dollar amounts in the financial statements and tables in the notes are stated in millions of US dollars unless otherwise indicated. | ||||
Consolidation Of Variable Interest Entities | ' | ' | |||
Consolidation of Variable Interest Entities | |||||
A VIE is an entity with which we have a relationship or arrangement that indicates some level of control over the entity or results in economic risks to us. We consolidate a VIE if we have: a) the power to direct the significant activities of the VIE and b) the right or obligation to absorb profit and loss from the VIE (primary beneficiary). See Note 12. | |||||
Income Taxes | ' | ' | |||
Income Taxes | |||||
EFH Corp. files a consolidated federal income tax return. Effective with the November 2008 sale of equity interests to Texas Transmission and Investment LLC, we became a partnership for US federal income tax purposes, and subsequently we are not a member of EFH Corp.’s consolidated tax group and only EFH Corp.’s share of our partnership income is included in its consolidated federal income tax return. Our tax sharing agreement with Oncor Holdings and EFH Corp. was amended in November 2008 to include Texas Transmission and Investment LLC. The tax sharing agreement provides for the calculation of tax liability substantially as if we and Oncor Holdings were taxed as corporations, and requires tax payments to members determined on that basis (without duplication for any income taxes paid by a subsidiary of Oncor Holdings). Accordingly, while partnerships are not subject to income taxes, in consideration of the tax sharing agreement and the presentation of our financial statements as an entity subject to cost-based regulatory rate-setting processes, with such costs including income taxes, the financial statements present amounts determined under the tax sharing agreement as “provision in lieu of income taxes” and “liability in lieu of deferred income taxes” for periods subsequent to the sales of equity interests discussed in Note 3. | |||||
Such amounts are determined in accordance with the provisions of accounting guidance for income taxes and for uncertainty in income taxes and thus differences between the book and tax bases of assets and liabilities are accounted for as if we were taxed as a corporation. The accounting guidance for rate-regulated enterprises requires the recognition of regulatory assets or liabilities if it is probable such deferred tax amounts will be recovered from, or returned to customers in future rates. Investment tax credits are amortized to income over the estimated lives of the related properties. | |||||
We classify interest and penalties expense related to uncertain tax positions as current provision in lieu of income taxes as discussed in Note 3. | |||||
Use Of Estimates | ' | ' | |||
Use of Estimates | Use of Estimates | ||||
Preparation of our financial statements requires management to make estimates and assumptions about future events that affect the reporting of assets and liabilities at the balance sheet dates and the reported amounts of revenue and expense, including fair value measurements. In the event estimates and/or assumptions prove to be different from actual amounts, adjustments are made in subsequent periods to reflect more current information. | Preparation of our financial statements requires management to make estimates and assumptions about future events that affect the reporting of assets and liabilities at the balance sheet dates and the reported amounts of revenue and expense, including fair value measurements. In the event estimates and/or assumptions prove to be different from actual amounts, adjustments are made in subsequent periods to reflect more current information. No material adjustments were made to previous estimates or assumptions during the current year. | ||||
Derivative Instruments And Mark-To-Market Accounting | ' | ' | |||
Derivative Instruments and Mark-to-Market Accounting | Derivative Instruments and Mark-to-Market Accounting | ||||
We have from time-to-time entered into derivative instruments to hedge interest rate risk. If the instrument meets the definition of a derivative under accounting standards related to derivative instruments and hedging activities, the fair value of each derivative is recognized on the balance sheet as a derivative asset or liability and changes in the fair value are recognized in net income, unless criteria for certain exceptions are met. This recognition is referred to as “mark-to-market” accounting. | We have from time-to-time entered into derivative instruments to hedge interest rate risk. If the instrument meets the definition of a derivative under accounting standards related to derivative instruments and hedging activities, the fair value of each derivative is recognized on the balance sheet as a derivative asset or liability and changes in the fair value are recognized in net income, unless criteria for certain exceptions are met. This recognition is referred to as “mark-to-market” accounting. | ||||
Reconcilable Tariffs | ' | ' | |||
Reconcilable Tariffs | Reconcilable Tariffs | ||||
The PUCT has designated certain tariffs (TCRF, EECRF surcharges, AMS surcharges and charges related to transition bonds) as reconcilable, which means the differences between amounts billed under these tariffs and the related incurred costs are deferred as either regulatory assets or regulatory liabilities. Accordingly, at prescribed intervals, future tariffs are adjusted to either repay regulatory liabilities or collect regulatory assets. | The PUCT has designated certain tariffs (TCRF, EECRF surcharges, AMS surcharges and charges related to transition bonds) as reconcilable, which means the differences between amounts billed under these tariffs and the related incurred costs are deferred as either regulatory assets or regulatory liabilities. Accordingly, at prescribed intervals, future tariffs are adjusted to either repay regulatory liabilities or collect regulatory assets. | ||||
Revenue Recognition | ' | ' | |||
Revenue Recognition | |||||
Revenue includes an estimate for electricity delivery services provided from the billed meter reading date to the end of the period (unbilled revenue). For electricity delivery services billed on the basis of kWh volumes, unbilled revenue is based on data collected through our AMS. For other electricity delivery services, unbilled revenue is based on average daily revenues for the most recent period applied to the number of unmetered days through the end of the period. | |||||
Impairment Of Long-Lived Assets And Goodwill | ' | ' | |||
Impairment of Long-Lived Assets and Goodwill | |||||
We evaluate long-lived assets (including intangible assets with finite lives) for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. | |||||
We also evaluate goodwill for impairment annually (at December 1) or whenever events or changes in circumstances indicate that an impairment may exist. | |||||
Goodwill impairment tests performed in 2013 and 2012 were based on determinations of enterprise value using discounted cash flow analyses, comparable company equity values and any relevant transactions indicative of enterprise values (quantitative assessment). The test performed in 2011 was based on a qualitative assessment in which we considered macroeconomic conditions, industry and market considerations, cost factors, overall financial performance and other relevant events. No impairments were recognized in 2013, 2012 or 2011. | |||||
System Of Accounts | ' | ' | |||
System of Accounts | |||||
Our accounting records have been maintained in accordance with the FERC Uniform System of Accounts as adopted by the PUCT. | |||||
Defined Benefit Pension Plans And Other Postretirement Employee Benefit (OPEB) Plans | ' | ' | |||
Defined Benefit Pension Plans and Other Postretirement Employee Benefit (OPEB) Plans | |||||
We have liabilities under pension plans that offer benefits based on either a traditional defined benefit formula or a cash balance formula and the OPEB Plan that offers certain health care and life insurance benefits to eligible employees and their eligible dependents upon the retirement of such employees from the company. Costs of pension and OPEB plans are dependent upon numerous factors, assumptions and estimates. In 2012, EFH Corp. made various changes to the EFH Retirement Plan, including splitting off into a new plan all of the assets and liabilities associated with Oncor employees and all retirees and terminated vested participants of EFH Corp. and its subsidiaries (including discontinued businesses). See Note 9 for additional information regarding the pension plans and the OPEB Plan. | |||||
Contingencies | ' | ' | |||
Contingencies | Contingencies | ||||
We evaluate and account for contingencies using the best information available. A loss contingency is accrued and disclosed when it is probable that an asset has been impaired or a liability incurred and the amount of the loss can be reasonably estimated. If a range of probable loss is established, the minimum amount in the range is accrued, unless some other amount within the range appears to be a better estimate. If the probable loss cannot be reasonably estimated, no accrual is recorded, but the loss contingency is disclosed to the effect that the probable loss cannot be reasonably estimated. A loss contingency will be disclosed when it is reasonably possible that an asset has been impaired or a liability incurred. If the likelihood that an impairment or incurrence is remote, the contingency is neither accrued nor disclosed. Gain contingencies are recognized upon realization. | We evaluate and account for contingencies using the best information available. A loss contingency is accrued and disclosed when it is probable that an asset has been impaired or a liability incurred and the amount of the loss can be reasonably estimated. If a range of probable loss is established, the minimum amount in the range is accrued, unless some other amount within the range appears to be a better estimate. If the probable loss cannot be reasonably estimated, no accrual is recorded, but the loss contingency is disclosed to the effect that the probable loss cannot be reasonably estimated. A loss contingency will be disclosed when it is reasonably possible that an asset has been impaired or a liability incurred. If the likelihood that an impairment or incurrence is remote, the contingency is neither accrued nor disclosed. Gain contingencies are recognized upon realization. | ||||
Fair Value Of Nonderivative Financial Instruments | ' | ' | |||
Fair Value of Nonderivative Financial Instruments | |||||
The carrying amounts for financial assets classified as current assets and the carrying amounts for financial liabilities classified as current liabilities approximate fair value due to the short maturity of such instruments. The fair values of other financial instruments, for which carrying amounts and fair values have not been presented, are not materially different than their related carrying amounts. The following discussion of fair value accounting standards applies primarily to our determination of the fair value of assets in the pension and OPEB plan trusts (see Note 9) and long-term debt (see Note 6). | |||||
Accounting standards related to the determination of fair value define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We use a “mid-market” valuation convention (the mid-point price between bid and ask prices) as a practical expedient to measure fair value for the majority of our assets and liabilities subject to fair value measurement on a recurring basis. We primarily use the market approach for recurring fair value measurements and use valuation techniques to maximize the use of observable inputs and minimize the use of unobservable inputs. | |||||
We categorize our assets and liabilities recorded at fair value based upon the following fair value hierarchy: | |||||
· | Level 1 valuations use quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date. An active market is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. | ||||
· | Level 2 valuations use inputs that, in the absence of actively quoted market prices, are observable for the asset or liability, either directly or indirectly. Level 2 inputs include: (a) quoted prices for similar assets or liabilities in active markets, (b) quoted prices for identical or similar assets or liabilities in markets that are not active, (c) inputs other than quoted prices that are observable for the asset or liability such as interest rates and yield curves observable at commonly quoted intervals and (d) inputs that are derived principally from or corroborated by observable market data by correlation or other means. Our Level 2 valuations utilize over-the-counter broker quotes, quoted prices for similar assets or liabilities that are corroborated by correlations or other mathematical means and other valuation inputs. | ||||
· | Level 3 valuations use unobservable inputs for the asset or liability. Unobservable inputs are used to the extent observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. We use the most meaningful information available from the market combined with internally developed valuation methodologies to develop our best estimate of fair value. | ||||
We utilize several different valuation techniques to measure the fair value of assets and liabilities, relying primarily on the market approach of using prices and other market information for identical and/or comparable assets and liabilities for those items that are measured on a recurring basis. | |||||
Franchise Taxes | ' | ' | |||
Franchise Taxes | |||||
Franchise taxes are assessed to us by local governmental bodies, based on kWh delivered and are the principal component of taxes other than amounts related to income taxes as reported in the income statement. Franchise taxes are not a “pass through” item. The rates we charge customers are intended to recover the franchise taxes, but we are not acting as an agent to collect the taxes from customers. | |||||
Cash And Cash Equivalents | ' | ' | |||
Cash and Cash Equivalents | |||||
For purposes of reporting cash and cash equivalents, temporary cash investments purchased with a remaining maturity of three months or less are considered to be cash equivalents. See Note 12 for details regarding restricted cash. | |||||
Property, Plant And Equipment | ' | ' | |||
Property, Plant and Equipment | |||||
Properties are stated at original cost. The cost of self-constructed property additions includes materials and both direct and indirect labor and applicable overhead and an allowance for funds used during construction. | |||||
Depreciation of property, plant and equipment is calculated on a straight-line basis over the estimated service lives of the properties based on depreciation rates approved by the PUCT. As is common in the industry, depreciation expense is recorded using composite depreciation rates that reflect blended estimates of the lives of major asset groups as compared to depreciation expense calculated on a component asset-by-asset basis. Depreciation rates include plant removal costs as a component of depreciation expense, consistent with regulatory treatment. Actual removal costs incurred are charged to accumulated depreciation. When accrued removal costs exceed incurred removal costs, the difference is reclassified as a regulatory obligation to retire assets in the future. | |||||
Allowance For Funds Used During Construction (AFUDC) | ' | ' | |||
Allowance for Funds Used During Construction (AFUDC) | |||||
AFUDC is a regulatory cost accounting procedure whereby both interest charges on borrowed funds and a return on equity capital used to finance construction are included in the recorded cost of utility plant and equipment being constructed. AFUDC is capitalized on all projects involving construction periods lasting greater than thirty days. The equity portion of capitalized AFUDC is accounted for as other income. We recorded $1 million of equity AFUDC in the year ended December 31, 2012 and none in the years ended December 31, 2013 and 2011. See Note 12 for detail of amounts charged to interest expense. | |||||
Regulatory Assets And Liabilities | ' | ' | |||
Regulatory Assets and Liabilities | |||||
Our financial statements reflect regulatory assets and liabilities under cost-based rate regulation in accordance with accounting standards related to the effect of certain types of regulation. Regulatory decisions can have an impact on the recovery of costs, the rate earned on invested capital and the timing and amount of assets to be recovered by rates. See Note 4 for details of regulatory assets and liabilities. | |||||
Changes In Accounting Standards | ' | ' | |||
Changes in Accounting Standards | |||||
In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09 (ASU 2014-09), Revenue from Contracts with Customers. ASU 2014-09 introduces new, increased requirements for disclosure of revenue in financial statements and is intended to eliminate inconsistencies in revenue recognition and thereby improve financial reporting comparability across entities, industries and capital markets. ASU 2014-09 is effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2016 for public entities. Early application is not permitted. We are currently evaluating the potential impact of ASU 2014-09. The adoption of ASU 2014-09 is not expected to have a material effect on our reported results of operations, financial condition or cash flows. | |||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Taxes [Abstract] | ' | ||||||||
Components Of Income Tax Provisions (Benefits) | ' | ||||||||
Year Ended December 31, | |||||||||
2013 | 2012 | 2011 | |||||||
Reported in operating expenses: | |||||||||
Current: | |||||||||
US federal | $ | 51 | $ | 23 | $ | -55 | |||
State | 12 | 21 | 21 | ||||||
Deferred: | |||||||||
US federal | 181 | 200 | 248 | ||||||
State | 6 | - | - | ||||||
Amortization of investment tax credits | -3 | -4 | -5 | ||||||
Total reported in operating expenses | 247 | 240 | 209 | ||||||
Reported in other income and deductions: | |||||||||
Current: | |||||||||
US federal | -5 | -14 | 9 | ||||||
State | - | - | 1 | ||||||
Deferred federal | 7 | 8 | 10 | ||||||
Total reported in other income and deductions | 2 | -6 | 20 | ||||||
Total provision in lieu of income taxes | $ | 249 | $ | 234 | $ | 229 | |||
Schedule Of Income Tax Reconciliation | ' | ||||||||
Year Ended December 31, | |||||||||
2013 | 2012 | 2011 | |||||||
Income before provision in lieu of income taxes | $ | 681 | $ | 583 | $ | 596 | |||
Provision in lieu of income taxes at the US federal statutory rate of 35% | $ | 238 | $ | 204 | $ | 209 | |||
Amortization of investment tax credits – net of deferred tax effect | -3 | -4 | -5 | ||||||
Amortization (under regulatory accounting) of statutory tax rate changes | -2 | -3 | -3 | ||||||
Amortization of Medicare subsidy regulatory asset | 14 | 14 | - | ||||||
Texas margin tax, net of federal tax benefit | 15 | 14 | 14 | ||||||
Nondeductible losses (gains) on benefit plan investments | -3 | -2 | -1 | ||||||
Other, including audit settlements | -10 | 11 | 15 | ||||||
Reported provision in lieu of income taxes | $ | 249 | $ | 234 | $ | 229 | |||
Effective rate | 36.6% | 40.1% | 38.4% | ||||||
Schedule Of Changes To Uncertain Tax Positions | ' | ||||||||
2013 | 2012 | 2011 | |||||||
Balance at January 1, excluding interest and penalties | $ | 144 | $ | 126 | $ | 82 | |||
Additions based on tax positions related to prior years | - | 18 | 44 | ||||||
Reductions based on tax positions related to prior years (a) | -66 | - | - | ||||||
Reduction related to 1997-2002 IRS appeals settlement | -24 | - | - | ||||||
Balance at December 31, excluding interest and penalties | $ | 54 | $ | 144 | $ | 126 | |||
_________ | |||||||||
(a)Includes IRS audit for the years 2003 through 2006. | |||||||||
Regulatory_Assets_and_Liabilit1
Regulatory Assets and Liabilities (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||
Regulatory Assets and Liabilities [Abstract] | ' | ' | ||||||||||||||||
Components Of Regulatory Assets And Liabilities | ' | ' | ||||||||||||||||
Remaining Rate Recovery/Amortization Period at | Carrying Amount At | |||||||||||||||||
Remaining Rate Recovery/Amortization Period at | Carrying Amount At | 31-Dec-13 | 31-Dec-13 | 31-Dec-12 | ||||||||||||||
30-Sep-14 | 30-Sep-14 | 31-Dec-13 | Regulatory assets: | |||||||||||||||
Generation-related regulatory assets securitized | 2 years | $ | 281 | $ | 409 | |||||||||||||
Regulatory assets: | by transition bonds (a)(e) | |||||||||||||||||
Generation-related regulatory assets securitized by transition bonds (a)(e) | 2 years | $ | 183 | $ | 281 | Employee retirement costs | 6 years | 71 | 87 | |||||||||
Employee retirement costs | 5 years | 59 | 71 | Employee retirement costs to be reviewed (b)(c) | To be determined | 224 | 186 | |||||||||||
Employee retirement costs to be reviewed (b)(c) | To be determined | 241 | 224 | Employee retirement liability (a)(c)(d) | To be determined | 491 | 738 | |||||||||||
Employee retirement liability (a)(c)(d) | To be determined | 520 | 491 | Self-insurance reserve (primarily storm recovery | 6 years | 158 | 190 | |||||||||||
Self-insurance reserve (primarily storm recovery costs) ― net | 5 years | 135 | 158 | costs) ― net | ||||||||||||||
Self-insurance reserve to be reviewed ― net (b)(c) | To be determined | 206 | 196 | Self-insurance reserve to be reviewed (b)(c) | To be determined | 196 | 128 | |||||||||||
Securities reacquisition costs (pre-industry restructure) | 3 years | 26 | 32 | Securities reacquisition costs (pre-industry restructure) | 3 years | 32 | 41 | |||||||||||
Securities reacquisition costs (post-industry restructure) ― net | Terms of related debt | 6 | 5 | Securities reacquisition costs | Terms of related debt | 5 | 22 | |||||||||||
Recoverable amounts in lieu of deferred | Life of related asset or liability | 19 | 42 | (post-industry restructure) ― net | ||||||||||||||
income taxes ― net | Recoverable amounts in lieu of deferred | Life of related asset or liability | 42 | 71 | ||||||||||||||
Rate review expenses (a) | Various | 4 | 4 | income taxes ― net | ||||||||||||||
Advanced meter customer education costs | 5 years | 7 | 8 | Rate review expenses (a) | Largely 2 years | 4 | 6 | |||||||||||
Deferred conventional meter and metering | Largely 6 years | 129 | 146 | Advanced meter customer education costs | 6 years | 8 | 10 | |||||||||||
facilities depreciation | Deferred conventional meter and metering | Largely 7 years | 146 | 152 | ||||||||||||||
Deferred AMS costs | To be determined | 101 | 62 | facilities depreciation | ||||||||||||||
Energy efficiency performance bonus (a) | 1 year | 25 | 12 | Deferred AMS costs | 6 years | 62 | 2 | |||||||||||
Under-recovered wholesale transmission | 1 year | 18 | 37 | Energy efficiency performance bonus (a) | 1 year | 12 | 9 | |||||||||||
service expense ― net (a) | Under-recovered wholesale transmission | 1 year | 37 | 40 | ||||||||||||||
Other regulatory assets | Various | 2 | 2 | service expense ― net (a) | ||||||||||||||
Total regulatory assets | 1,681 | 1,771 | Energy efficiency programs (a) | Not applicable | - | 1 | ||||||||||||
Regulatory liabilities: | Other regulatory assets | Various | 2 | 1 | ||||||||||||||
Estimated net removal costs | Life of utility plant | 495 | 385 | Total regulatory assets | 1,771 | 2,093 | ||||||||||||
Investment tax credit and protected excess | Various | 18 | 23 | Regulatory liabilities: | ||||||||||||||
deferred taxes | Estimated net removal costs | Life of utility plant | 385 | 244 | ||||||||||||||
Over-collection of transition bond revenues (a)(e) | 2 years | 37 | 35 | Investment tax credit and protected excess | Various | 23 | 28 | |||||||||||
Energy efficiency programs (a) | Not applicable | 20 | 4 | deferred taxes | ||||||||||||||
Total regulatory liabilities | 570 | 447 | Over-collection of transition bond revenues (a)(e) | 2 years | 35 | 33 | ||||||||||||
Net regulatory asset | $ | 1,111 | $ | 1,324 | Energy efficiency programs (a) | Not applicable | 4 | - | ||||||||||
Total regulatory liabilities | 447 | 305 | ||||||||||||||||
____________ | Net regulatory asset | $ | 1,324 | $ | 1,788 | |||||||||||||
(a) | Not earning a return in the regulatory rate-setting process. | ____________ | ||||||||||||||||
(b) | Costs incurred since the period covered under the last rate review. | (a) | Not earning a return in the regulatory rate-setting process. | |||||||||||||||
(c) | Recovery is specifically authorized by statute or by the PUCT, subject to reasonableness review. | (b) | Costs incurred since the period covered under the last rate review. | |||||||||||||||
(d) | Represents unfunded liabilities recorded in accordance with pension and OPEB accounting standards. | (c) | Recovery is specifically authorized by statute or by the PUCT, subject to reasonableness review. | |||||||||||||||
Bondco net regulatory assets of $136 million at September 30, 2014 consisted of $173 million included in generation-related regulatory assets net of the regulatory liability for over-collection of transition bond revenues of $37 million. Bondco net regulatory assets of $226 million at December 31, 2013 consisted of $261 million included in generation-related regulatory assets net of the regulatory liability for over-collection of transition bond revenues of $35 million | (d) | Represents unfunded liabilities recorded in accordance with pension and OPEB accounting standards. | ||||||||||||||||
Bondco net regulatory assets of $226 million at December 31, 2013 consisted of $261 million included in generation-related regulatory assets net of the regulatory liability for over-collection of transition bond revenues of $35 million. Bondco net regulatory assets of $335 million at December 31, 2012 consisted of $368 million included in generation-related regulatory assets net of the regulatory liability for over-collection of transition bond revenues of $33 million. | ||||||||||||||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 9 Months Ended | 12 Months Ended | |||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | ||||||||||||
Borrowings Under Credit Facilities And Long-Term Debt [Abstract] | ' | ' | |||||||||||
Schedule Of Long-Term Debt | ' | ' | |||||||||||
December 31, | |||||||||||||
September 30, | December 31, | 2013 | 2012 | ||||||||||
2014 | 2013 | Oncor (a): | |||||||||||
6.375% Fixed Senior Notes due January 15, 2015 | $ | 500 | $ | 500 | |||||||||
Oncor (a): | 5.000% Fixed Senior Notes due September 30, 2017 | 324 | 324 | ||||||||||
6.375% Fixed Senior Notes due January 15, 2015 | $ | 500 | $ | 500 | 6.800% Fixed Senior Notes due September 1, 2018 | 550 | 550 | ||||||
5.000% Fixed Senior Notes due September 30, 2017 | 324 | 324 | 5.750% Fixed Senior Notes due September 30, 2020 | 126 | 126 | ||||||||
6.800% Fixed Senior Notes due September 1, 2018 | 550 | 550 | 4.100% Fixed Senior Notes due June 1, 2022 | 400 | 400 | ||||||||
2.150% Fixed Senior Notes due June 1, 2019 | 250 | - | 7.000% Fixed Debentures due September 1, 2022 | 800 | 800 | ||||||||
5.750% Fixed Senior Notes due September 30, 2020 | 126 | 126 | 7.000% Fixed Senior Notes due May 1, 2032 | 500 | 500 | ||||||||
4.100% Fixed Senior Notes due June 1, 2022 | 400 | 400 | 7.250% Fixed Senior Notes due January 15, 2033 | 350 | 350 | ||||||||
7.000% Fixed Debentures due September 1, 2022 | 800 | 800 | 7.500% Fixed Senior Notes due September 1, 2038 | 300 | 300 | ||||||||
7.000% Fixed Senior Notes due May 1, 2032 | 500 | 500 | 5.250% Fixed Senior Notes due September 30, 2040 | 475 | 475 | ||||||||
7.250% Fixed Senior Notes due January 15, 2033 | 350 | 350 | 4.550% Fixed Senior Notes due December 1, 2041 | 400 | 300 | ||||||||
7.500% Fixed Senior Notes due September 1, 2038 | 300 | 300 | 5.300% Fixed Senior Notes due June 1, 2042 | 500 | 500 | ||||||||
5.250% Fixed Senior Notes due September 30, 2040 | 475 | 475 | Unamortized discount | -23 | -35 | ||||||||
4.550% Fixed Senior Notes due December 1, 2041 | 400 | 400 | Long-term debt, less amounts due currently — Oncor | 5,202 | 5,090 | ||||||||
5.300% Fixed Senior Notes due June 1, 2042 | 500 | 500 | |||||||||||
Unamortized discount | -20 | -23 | Bondco (b): | ||||||||||
Less amount due currently | -500 | - | 4.950% Fixed Series 2003 Bonds due in semiannual installments through February 15, 2013 | - | 10 | ||||||||
Long-term debt, less amounts due currently — Oncor | 4,955 | 5,202 | 5.420% Fixed Series 2003 Bonds due in semiannual installments through August 15, 2015 | 106 | 145 | ||||||||
Bondco (b): | 5.290% Fixed Series 2004 Bonds due in semiannual installments through May 15, 2016 | 205 | 281 | ||||||||||
5.420% Fixed Series 2003 Bonds due in semiannual installments through August 15, 2015 | 54 | 106 | Unamortized fair value discount related to transition bonds | -1 | -1 | ||||||||
5.290% Fixed Series 2004 Bonds due in semiannual installments through May 15, 2016 | 168 | 205 | Less amount due currently | -131 | -125 | ||||||||
Unamortized fair value discount related to transition bonds | - | -1 | Long-term debt, less amounts due currently — Bondco | 179 | 310 | ||||||||
Less amount due currently | -136 | -131 | Total long-term debt, less amounts due currently | $ | 5,381 | $ | 5,400 | ||||||
Long-term debt, less amounts due currently — Bondco | 86 | 179 | __________ | ||||||||||
Total long-term debt, less amounts due currently | $ | 5,041 | $ | 5,381 | (a)Secured by first priority lien on certain transmission and distribution assets equally and ratably with all of Oncor’s other secured indebtedness. See “Deed of Trust” below for additional information. | ||||||||
__________ | (b)The transition bonds are nonrecourse to Oncor and were issued to securitize a regulatory asset. | ||||||||||||
(a) Secured by first priority lien on certain transmission and distribution assets equally and ratably with all of Oncor’s other secured indebtedness. See “Deed of Trust” in Note 6 to Financial Statements in our 2013 Form 10-K for additional information. | |||||||||||||
(b) The transition bonds are nonrecourse to Oncor and were issued to securitize a regulatory asset. | |||||||||||||
Schedule Of Long-Term Debt Maturity | ' | ' | |||||||||||
Year | Amount | ||||||||||||
2014 | $ | 131 | |||||||||||
2015 | 639 | ||||||||||||
2016 | 41 | ||||||||||||
2017 | 324 | ||||||||||||
2018 | 550 | ||||||||||||
Thereafter | 3,851 | ||||||||||||
Unamortized fair value discount | -1 | ||||||||||||
Unamortized discount | -23 | ||||||||||||
Total | $ | 5,512 | |||||||||||
Commitments_And_Contingencies_
Commitments And Contingencies (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Commitments And Contingencies [Abstract] | ' | |||||
Schedule Of Future Miinimum Lease Payments Under Operating Leases | ' | |||||
Year | Amount | |||||
2014 | $ | 6 | ||||
2015 | 4 | |||||
2016 | 3 | |||||
2017 | 1 | |||||
2018 | - | |||||
Thereafter | - | |||||
Total future minimum lease payments | $ | 14 | ||||
Membership_Interests_Tables
Membership Interests (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||
Membership Interests [Abstract] | ' | ' | ||||||||||||||||
Schedule Of Distributions Paid | ' | ' | ||||||||||||||||
During 2013, our board of directors declared, and we paid the following cash distributions to our members: | ||||||||||||||||||
Declaration Date | Payment Date | Amount | ||||||||||||||||
30-Jul-14 | 31-Jul-14 | $ | 71 | |||||||||||||||
30-Apr-14 | 1-May-14 | 57 | ||||||||||||||||
19-Feb-14 | 20-Feb-14 | $ | 53 | |||||||||||||||
Declaration Date | Payment Date | Amount | ||||||||||||||||
29-Oct-13 | 31-Oct-13 | $ | 95 | |||||||||||||||
31-Jul-13 | 1-Aug-13 | $ | 95 | |||||||||||||||
1-May-13 | 2-May-13 | $ | 70 | |||||||||||||||
13-Feb-13 | 15-Feb-13 | $ | 50 | |||||||||||||||
During 2012, our board of directors declared, and we paid the following cash distributions to our members: | ||||||||||||||||||
Declaration Date | Payment Date | Amount | ||||||||||||||||
24-Oct-12 | 30-Oct-12 | $ | 70 | |||||||||||||||
25-Jul-12 | 31-Jul-12 | $ | 50 | |||||||||||||||
25-Apr-12 | 1-May-12 | $ | 60 | |||||||||||||||
14-Feb-12 | 21-Feb-12 | $ | 45 | |||||||||||||||
Schedule Of Changes To Membership Interests | ' | ' | ||||||||||||||||
Capital Accounts | Accumulated Other Comprehensive Income (Loss) | Total Membership Interests | ||||||||||||||||
Balance at December 31, 2013 | $ | 7,457 | $ | -48 | $ | 7,409 | ||||||||||||
Net income | 355 | - | 355 | |||||||||||||||
Distributions | -181 | - | -181 | |||||||||||||||
Net effects of cash flow hedges (net of tax) | 2 | 2 | ||||||||||||||||
Defined benefit pension plans (net of tax) | - | -1 | -1 | |||||||||||||||
Balance at September 30, 2014 | $ | 7,631 | $ | -47 | $ | 7,584 | ||||||||||||
Capital Accounts | Accumulated Other Comprehensive Income (Loss) | Total Membership Interests | ||||||||||||||||
Balance at December 31, 2012 | $ | 7,335 | $ | -31 | $ | 7,304 | ||||||||||||
Net income | 329 | - | 329 | |||||||||||||||
Distributions | -215 | - | -215 | |||||||||||||||
Net effects of cash flow hedges (net of tax) | 3 | 3 | ||||||||||||||||
Defined benefit pension plans (net of tax) | - | -1 | -1 | |||||||||||||||
Other | -1 | - | -1 | |||||||||||||||
Balance at September 30, 2013 | $ | 7,448 | $ | -29 | $ | 7,419 | ||||||||||||
Schedule Of Changes To Accumulated Other Comprehensive Income (Loss) | ' | ' | ||||||||||||||||
Cash Flow Hedges – Interest Rate Swap | Defined Benefit Pension and OPEB Plans | Accumulated Other Comprehensive Income (Loss) | Cash Flow Hedges – Interest Rate Swap | Defined Benefit Pension and OPEB Plans | Accumulated Other Comprehensive Income (Loss) | |||||||||||||
Balance at December 31, 2013 | $ | -26 | $ | -22 | $ | -48 | Balance at December 31, 2012 | $ | -28 | $ | -3 | $ | -31 | |||||
Defined benefit pension plans (net of tax) | - | -1 | -1 | Defined benefit pension plans (net of tax) | - | -19 | -19 | |||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) and reported in interest expense and related charges | 2 | - | 2 | Amounts reclassified from accumulated other comprehensive income (loss) and reported in interest expense and related charges | 2 | - | 2 | |||||||||||
Balance at September 30, 2014 | $ | -24 | $ | -23 | $ | -47 | Balance at December 31, 2013 | $ | -26 | $ | -22 | $ | -48 | |||||
Cash Flow Hedges – Interest Rate Swap | Defined Benefit Pension and OPEB Plans | Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||
Balance at December 31, 2012 | $ | -28 | $ | -3 | $ | -31 | ||||||||||||
Defined benefit pension plans (net of tax) | - | -1 | -1 | |||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) and reported in interest expense and related charges | 3 | - | 3 | |||||||||||||||
Balance at September 30, 2013 | $ | -25 | $ | -4 | $ | -29 | ||||||||||||
Recovered_Sheet1
Pension And Other Postretirement Employee Benefits Plans (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||
Schedule Of Pension And OPEB Plan Costs | ' | ' | ||||||||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||
Pension costs | $ | 95 | $ | 179 | $ | 95 | ||||||||||||||||||||||||||||||||||||||
Components of net allocated pension costs: | OPEB costs | 37 | 27 | 74 | ||||||||||||||||||||||||||||||||||||||||
Service cost | $ | 6 | $ | 6 | $ | 18 | $ | 18 | Total benefit costs | 132 | 206 | 169 | ||||||||||||||||||||||||||||||||
Interest cost | 33 | 31 | 99 | 92 | Less amounts deferred principally as property or a regulatory asset | -95 | -169 | -132 | ||||||||||||||||||||||||||||||||||||
Expected return on assets | -34 | -31 | -102 | -91 | Net amounts recognized as expense | $ | 37 | $ | 37 | $ | 37 | |||||||||||||||||||||||||||||||||
Amortization of net loss | 9 | 17 | 29 | 52 | ||||||||||||||||||||||||||||||||||||||||
Net pension costs | 14 | 23 | 44 | 71 | ||||||||||||||||||||||||||||||||||||||||
Components of net OPEB costs: | ||||||||||||||||||||||||||||||||||||||||||||
Service cost | 2 | 1 | 5 | 4 | ||||||||||||||||||||||||||||||||||||||||
Interest cost | 11 | 9 | 33 | 28 | ||||||||||||||||||||||||||||||||||||||||
Expected return on assets | -3 | -3 | -9 | -9 | ||||||||||||||||||||||||||||||||||||||||
Amortization of prior service cost | -5 | -5 | -15 | -15 | ||||||||||||||||||||||||||||||||||||||||
Amortization of net loss | 8 | 7 | 20 | 19 | ||||||||||||||||||||||||||||||||||||||||
Net OPEB costs | 13 | 9 | 34 | 27 | ||||||||||||||||||||||||||||||||||||||||
Total net pension and OPEB costs | 27 | 32 | 78 | 98 | ||||||||||||||||||||||||||||||||||||||||
Less amounts deferred principally as property or a regulatory asset | -18 | -23 | -51 | -71 | ||||||||||||||||||||||||||||||||||||||||
Net amounts recognized as expense | $ | 9 | $ | 9 | $ | 27 | $ | 27 | ||||||||||||||||||||||||||||||||||||
Schedule Of Detailed Pension And OPEB Benefit Information | ' | ' | ||||||||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plan | |||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||
Assumptions Used to Determine Net Periodic Pension and Benefit Cost: | ||||||||||||||||||||||||||||||||||||||||||||
Discount rate (a) | 4.10% | 5.00% | 5.50% | 4.10% | 4.95% | 5.55% | ||||||||||||||||||||||||||||||||||||||
Expected return on plan assets | 6.14% | 7.40% | 7.70% | 6.70% | 6.80% | 7.10% | ||||||||||||||||||||||||||||||||||||||
Rate of compensation increase | 3.94% | 3.81% | 3.74% | - | - | - | ||||||||||||||||||||||||||||||||||||||
Components of Net Pension and Benefit Cost: | ||||||||||||||||||||||||||||||||||||||||||||
Service cost | $ | 26 | $ | 23 | $ | 20 | $ | 6 | $ | 5 | $ | 7 | ||||||||||||||||||||||||||||||||
Interest Cost | 122 | 106 | 110 | 36 | 39 | 54 | ||||||||||||||||||||||||||||||||||||||
Expected return on assets | -123 | -109 | -99 | -11 | -12 | -14 | ||||||||||||||||||||||||||||||||||||||
Amortization of net transition obligation | - | - | - | - | 1 | 1 | ||||||||||||||||||||||||||||||||||||||
Amortization of prior service cost (credit) | - | - | 1 | -20 | -20 | -1 | ||||||||||||||||||||||||||||||||||||||
Amortization of net loss | 69 | 78 | 63 | 26 | 14 | 27 | ||||||||||||||||||||||||||||||||||||||
Settlement charges | 1 | 81 | - | - | - | - | ||||||||||||||||||||||||||||||||||||||
Net periodic pension and benefit cost | $ | 95 | $ | 179 | $ | 95 | $ | 37 | $ | 27 | $ | 74 | ||||||||||||||||||||||||||||||||
Other Changes in Plan Assets and Benefit Obligations Recognized as Regulatory Assets or in Other Comprehensive Income: | ||||||||||||||||||||||||||||||||||||||||||||
Net loss (gain) | $ | -139 | $ | 110 | $ | 106 | $ | - | $ | 83 | $ | -91 | ||||||||||||||||||||||||||||||||
Prior service cost (credit) | - | - | - | - | - | -127 | ||||||||||||||||||||||||||||||||||||||
Amortization of net loss | -69 | -78 | -63 | -26 | -14 | -27 | ||||||||||||||||||||||||||||||||||||||
Amortization of transition obligation (asset) | - | - | - | - | -1 | -1 | ||||||||||||||||||||||||||||||||||||||
Amortization of prior service (cost) credit | - | - | -1 | 20 | 20 | 1 | ||||||||||||||||||||||||||||||||||||||
Settlement charges | -1 | -81 | - | - | - | - | ||||||||||||||||||||||||||||||||||||||
Curtailment | - | -5 | - | - | - | - | ||||||||||||||||||||||||||||||||||||||
Total recognized as regulatory assets or other comprehensive income | -209 | -54 | 42 | -6 | 88 | -245 | ||||||||||||||||||||||||||||||||||||||
Total recognized in net periodic pension and benefit costs and as regulatory assets or other comprehensive income | $ | -114 | $ | 125 | $ | 137 | $ | 31 | $ | 115 | $ | -171 | ||||||||||||||||||||||||||||||||
_____________ | ||||||||||||||||||||||||||||||||||||||||||||
(a)As a result of the 2012 amendments discussed above, the discount rate reflected in net pension costs for January through July 2012 was 5.00%, for August through September 2012 was 4.15% and for October through December 2012 was 4.20%. | ||||||||||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plan | |||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||
Assumptions Used to Determine Benefit Obligations at Period End: | ||||||||||||||||||||||||||||||||||||||||||||
Discount rate | 4.74% | 4.10% | 5.00% | 4.98% | 4.10% | 4.95% | ||||||||||||||||||||||||||||||||||||||
Rate of compensation increase | 3.94% | 3.94% | 3.81% | - | - | - | ||||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plan | |||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||
Change in Projected Benefit Obligation: | ||||||||||||||||||||||||||||||||||||||||||||
Projected benefit obligation at beginning of year | $ | 3,038 | $ | 2,215 | $ | 913 | $ | 809 | ||||||||||||||||||||||||||||||||||||
Service cost | 26 | 23 | 6 | 5 | ||||||||||||||||||||||||||||||||||||||||
Interest cost | 122 | 106 | 36 | 39 | ||||||||||||||||||||||||||||||||||||||||
Participant contributions | - | - | 14 | 15 | ||||||||||||||||||||||||||||||||||||||||
Medicare Part D reimbursement | - | - | 2 | 3 | ||||||||||||||||||||||||||||||||||||||||
Settlement | -3 | -268 | - | - | ||||||||||||||||||||||||||||||||||||||||
Curtailment | - | -5 | - | - | ||||||||||||||||||||||||||||||||||||||||
Assumption of liabilities | - | 860 | - | 6 | ||||||||||||||||||||||||||||||||||||||||
Actuarial (gain) loss | -183 | 198 | 10 | 94 | ||||||||||||||||||||||||||||||||||||||||
Benefits paid | -143 | -91 | -57 | -58 | ||||||||||||||||||||||||||||||||||||||||
Projected benefit obligation at end of year | $ | 2,857 | $ | 3,038 | $ | 924 | $ | 913 | ||||||||||||||||||||||||||||||||||||
Accumulated benefit obligation at end of year | $ | 2,752 | $ | 2,908 | $ | - | $ | - | ||||||||||||||||||||||||||||||||||||
Change in Plan Assets: | ||||||||||||||||||||||||||||||||||||||||||||
Fair value of assets at beginning of year | $ | 2,327 | $ | 1,542 | $ | 190 | $ | 197 | ||||||||||||||||||||||||||||||||||||
Actual return (loss) on assets | 80 | 199 | 21 | 25 | ||||||||||||||||||||||||||||||||||||||||
Employer contributions | 9 | 93 | 11 | 11 | ||||||||||||||||||||||||||||||||||||||||
Settlement | -2 | -268 | - | - | ||||||||||||||||||||||||||||||||||||||||
Assets related to assumed liabilities | - | 852 | - | - | ||||||||||||||||||||||||||||||||||||||||
Participant contributions | - | - | 14 | 15 | ||||||||||||||||||||||||||||||||||||||||
Benefits paid | -143 | -91 | -57 | -58 | ||||||||||||||||||||||||||||||||||||||||
Fair value of assets at end of year | $ | 2,271 | $ | 2,327 | $ | 179 | $ | 190 | ||||||||||||||||||||||||||||||||||||
Funded Status: | ||||||||||||||||||||||||||||||||||||||||||||
Projected benefit obligation at end of year | $ | -2,857 | $ | -3,038 | $ | -924 | $ | -913 | ||||||||||||||||||||||||||||||||||||
Fair value of assets at end of year | 2,271 | 2,327 | 179 | 190 | ||||||||||||||||||||||||||||||||||||||||
Funded status at end of year | $ | -586 | $ | -711 | $ | -745 | $ | -723 | ||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plan | |||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||
Amounts Recognized in the Balance Sheet Consist of: | ||||||||||||||||||||||||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||
Other current liabilities | $ | -3 | $ | -3 | $ | - | $ | - | ||||||||||||||||||||||||||||||||||||
Other noncurrent liabilities | -583 | -708 | -745 | -723 | ||||||||||||||||||||||||||||||||||||||||
Net liability recognized | $ | -586 | $ | -711 | $ | -745 | $ | -723 | ||||||||||||||||||||||||||||||||||||
Regulatory assets: | ||||||||||||||||||||||||||||||||||||||||||||
Net loss | $ | 362 | $ | 602 | $ | 220 | $ | 247 | ||||||||||||||||||||||||||||||||||||
Prior service cost (credit) | - | - | -91 | -111 | ||||||||||||||||||||||||||||||||||||||||
Net regulatory asset recognized | $ | 362 | $ | 602 | $ | 129 | $ | 136 | ||||||||||||||||||||||||||||||||||||
Accumulated other comprehensive net loss | $ | 33 | $ | 3 | $ | 1 | $ | 1 | ||||||||||||||||||||||||||||||||||||
Schedule Of Assumed Health Care Cost Trend Rates | ' | ' | ||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||
Assumed Health Care Cost Trend Rates – Not Medicare Eligible: | ||||||||||||||||||||||||||||||||||||||||||||
Health care cost trend rate assumed for next year | 8.00% | 8.50% | ||||||||||||||||||||||||||||||||||||||||||
Rate to which the cost trend is expected to decline (the ultimate trend rate) | 5.00% | 5.00% | ||||||||||||||||||||||||||||||||||||||||||
Year that the rate reaches the ultimate trend rate | 2022 | 2022 | ||||||||||||||||||||||||||||||||||||||||||
Assumed Health Care Cost Trend Rates – Medicare Eligible: | ||||||||||||||||||||||||||||||||||||||||||||
Health care cost trend rate assumed for next year | 7.00% | 7.50% | ||||||||||||||||||||||||||||||||||||||||||
Rate to which the cost trend is expected to decline (the ultimate trend rate) | 5.00% | 5.00% | ||||||||||||||||||||||||||||||||||||||||||
Year that the rate reaches the ultimate trend rate | 2021 | 2021 | ||||||||||||||||||||||||||||||||||||||||||
1-Percentage Point Increase | 1-Percentage Point Decrease | |||||||||||||||||||||||||||||||||||||||||||
Sensitivity Analysis of Assumed Health Care Cost Trend Rates: | ||||||||||||||||||||||||||||||||||||||||||||
Effect on accumulated postretirement obligation | $ | 117 | $ | -97 | ||||||||||||||||||||||||||||||||||||||||
Effect on postretirement benefits cost | 7 | -6 | ||||||||||||||||||||||||||||||||||||||||||
Schedule Of Projected Benefit Obligations And Accumulated Benefit Obligations In Excess Of Plan Assets Fair Value | ' | ' | ||||||||||||||||||||||||||||||||||||||||||
At December 31, | ||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||
Pension Plans with PBO and ABO in Excess of Plan Assets: | ||||||||||||||||||||||||||||||||||||||||||||
Projected benefit obligations | $ | 2,857 | $ | 3,038 | ||||||||||||||||||||||||||||||||||||||||
Accumulated benefit obligations | 2,752 | 2,908 | ||||||||||||||||||||||||||||||||||||||||||
Plan assets | 2,271 | 2,327 | ||||||||||||||||||||||||||||||||||||||||||
Schedule Of Target Asset Allocation Ranges By Asset Category | ' | ' | ||||||||||||||||||||||||||||||||||||||||||
Target Allocation Ranges | ||||||||||||||||||||||||||||||||||||||||||||
Asset Category | Recoverable | Nonrecoverable | ||||||||||||||||||||||||||||||||||||||||||
US equities | 24% - 30% | — | ||||||||||||||||||||||||||||||||||||||||||
International equities | 19% - 25% | — | ||||||||||||||||||||||||||||||||||||||||||
Fixed income | 45% - 57% | 100% | ||||||||||||||||||||||||||||||||||||||||||
Schedule Of Expected Long-Term Rate Of Return On Assets Assumptions | ' | ' | ||||||||||||||||||||||||||||||||||||||||||
Pension Plans | OPEB Plan | |||||||||||||||||||||||||||||||||||||||||||
Asset Class | Expected Long-Term Rate of Return | Asset Class | Expected Long-Term Rate of Return | |||||||||||||||||||||||||||||||||||||||||
International equity securities | 7.83% | 401(h) accounts | 7.59% | |||||||||||||||||||||||||||||||||||||||||
US equity securities | 7.20% | Life insurance VEBA | 6.71% | |||||||||||||||||||||||||||||||||||||||||
Real estate | 6.20% | Union VEBA | 6.71% | |||||||||||||||||||||||||||||||||||||||||
Credit strategies | 5.87% | Non-union VEBA | 3.80% | |||||||||||||||||||||||||||||||||||||||||
Fixed income securities | 5.30% | Weighted average | 7.05% | |||||||||||||||||||||||||||||||||||||||||
Weighted average (a) | 7.39% | |||||||||||||||||||||||||||||||||||||||||||
_____________ | ||||||||||||||||||||||||||||||||||||||||||||
(a)The 2014 expected long-term rate of return for the nonregulated portion of the Oncor Retirement Plan is 4.72%. | ||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Contributions | ' | ' | ||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||||||
Pension plans contributions | $ | 9 | $ | 93 | $ | 175 | ||||||||||||||||||||||||||||||||||||||
OPEB Plan contributions | 11 | 11 | 18 | |||||||||||||||||||||||||||||||||||||||||
Total contributions | $ | 20 | $ | 104 | $ | 193 | ||||||||||||||||||||||||||||||||||||||
Schedule Of Estimated Future Benefit Payments | ' | ' | ||||||||||||||||||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | 2019-23 | |||||||||||||||||||||||||||||||||||||||
Pension plans | $ | 155 | $ | 159 | $ | 165 | $ | 169 | $ | 175 | $ | 942 | ||||||||||||||||||||||||||||||||
OPEB Plan | $ | 45 | $ | 49 | $ | 52 | $ | 55 | $ | 57 | $ | 316 | ||||||||||||||||||||||||||||||||
Pension Plan [Member] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||
Schedule Of Assets Fair Value Measured On Recurring Basis | ' | ' | ||||||||||||||||||||||||||||||||||||||||||
At December 31, 2013 | At December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||
Asset Category | ||||||||||||||||||||||||||||||||||||||||||||
Interest-bearing cash | $ | - | $ | 160 | $ | - | $ | 160 | $ | - | $ | 134 | $ | - | $ | 134 | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||||||||||
US | 250 | 82 | - | 332 | 206 | 95 | - | 301 | ||||||||||||||||||||||||||||||||||||
International | 337 | 7 | - | 344 | 280 | 7 | - | 287 | ||||||||||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||||||||||
Corporate bonds (a) | - | 1,265 | - | 1,265 | - | 1,319 | - | 1,319 | ||||||||||||||||||||||||||||||||||||
US Treasuries | - | 108 | - | 108 | - | 206 | - | 206 | ||||||||||||||||||||||||||||||||||||
Other (b) | - | 55 | - | 55 | - | 73 | - | 73 | ||||||||||||||||||||||||||||||||||||
Preferred securities | - | - | 7 | 7 | - | - | 7 | 7 | ||||||||||||||||||||||||||||||||||||
Total assets | $ | 587 | $ | 1,677 | $ | 7 | $ | 2,271 | $ | 486 | $ | 1,834 | $ | 7 | $ | 2,327 | ||||||||||||||||||||||||||||
_____________ | ||||||||||||||||||||||||||||||||||||||||||||
(a)Substantially all corporate bonds are rated investment grade by a major ratings agency such as Moody’s. | ||||||||||||||||||||||||||||||||||||||||||||
(b)Other consists primarily of municipal bonds and fixed income derivative instruments. | ||||||||||||||||||||||||||||||||||||||||||||
OPEB [Member] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||
Schedule Of Assets Fair Value Measured On Recurring Basis | ' | ' | ||||||||||||||||||||||||||||||||||||||||||
At December 31, 2013 | At December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||
Asset Category | ||||||||||||||||||||||||||||||||||||||||||||
Interest-bearing cash | $ | - | $ | 6 | $ | - | $ | 6 | $ | - | $ | 10 | $ | - | $ | 10 | ||||||||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||||||||||||||||||
US | 53 | 5 | - | 58 | 49 | 6 | - | 55 | ||||||||||||||||||||||||||||||||||||
International | 35 | - | - | 35 | 31 | - | - | 31 | ||||||||||||||||||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||||||||||||||||||||||
Corporate bonds (a) | - | 34 | - | 34 | - | 42 | - | 42 | ||||||||||||||||||||||||||||||||||||
US Treasuries | - | 1 | - | 1 | - | 4 | - | 4 | ||||||||||||||||||||||||||||||||||||
Other (b) | 43 | 2 | - | 45 | 45 | 3 | - | 48 | ||||||||||||||||||||||||||||||||||||
Preferred securities | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||
Total assets | $ | 131 | $ | 48 | $ | - | $ | 179 | $ | 125 | $ | 65 | $ | - | $ | 190 | ||||||||||||||||||||||||||||
_____________ | ||||||||||||||||||||||||||||||||||||||||||||
(a)Substantially all corporate bonds are rated investment grade by a major ratings agency such as Moody’s. | ||||||||||||||||||||||||||||||||||||||||||||
(b)Other consists primarily of diversified bond mutual funds. | ||||||||||||||||||||||||||||||||||||||||||||
RelatedParty_Transactions_Tabl
Related-Party Transactions (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||
Related-Party Transactions [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||
Schedule OF Trade Accounts And Other Receivables From Related Parties | ' | ' | ||||||||||||||||||||||||||||||||||
At September 30, | At December 31, | |||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
Trade accounts and other receivables from affiliates | $ | 157 | $ | 141 | ||||||||||||||||||||||||||||||||
Trade accounts and other payables to affiliates | -5 | -6 | ||||||||||||||||||||||||||||||||||
Trade accounts and other receivables from affiliates – net | $ | 152 | $ | 135 | ||||||||||||||||||||||||||||||||
Schedule Of Related Party Transactions | ' | ' | ||||||||||||||||||||||||||||||||||
Amounts payable to (receivable from) members related to income taxes under the tax sharing agreement and reported on our balance sheet consisted of the following: | Amounts payable to (receivable from) members related to income taxes under the agreement and reported on our balance sheet consisted of the following: | |||||||||||||||||||||||||||||||||||
At December 31, 2013 | At December 31, 2012 | |||||||||||||||||||||||||||||||||||
EFH Corp. | Texas Transmission | Total | EFH Corp. | Texas Transmission | Total | |||||||||||||||||||||||||||||||
At September 30, 2014 | At December 31, 2013 | Federal income taxes | $ | -18 | $ | -5 | $ | -23 | $ | - | $ | - | $ | - | ||||||||||||||||||||||
EFH Corp. | Texas Transmission | Total | EFH Corp. | Texas Transmission | Total | Texas margin taxes | 23 | - | 23 | 22 | - | 22 | ||||||||||||||||||||||||
Total payable (receivable) | $ | 5 | $ | -5 | $ | - | $ | 22 | $ | - | $ | 22 | ||||||||||||||||||||||||
Federal income taxes receivable | $ | - | $ | - | $ | - | $ | -18 | $ | -5 | $ | -23 | ||||||||||||||||||||||||
Federal income taxes payable | 38 | 9 | 47 | - | - | - | ||||||||||||||||||||||||||||||
Texas margin taxes payable | 18 | - | 18 | 23 | - | 23 | Cash payments made to (received from) members related to income taxes consisted of the following: | |||||||||||||||||||||||||||||
Net payable (receivable) | $ | 56 | $ | 9 | $ | 65 | $ | 5 | $ | -5 | $ | - | ||||||||||||||||||||||||
Year Ended December 31, 2013 | Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||
Cash payments made to (received from) members related to income taxes consisted of the following: | EFH Corp. | Texas Transmission | Total | EFH Corp. | Texas Transmission | Total | ||||||||||||||||||||||||||||||
Federal income taxes (a) | $ | 78 | $ | 11 | $ | 89 | $ | -18 | $ | -5 | $ | -23 | ||||||||||||||||||||||||
Texas margin taxes (b) | 12 | - | 12 | 21 | - | 21 | ||||||||||||||||||||||||||||||
Total payments (receipts) | $ | 90 | $ | 11 | $ | 101 | $ | 3 | $ | -5 | $ | -2 | ||||||||||||||||||||||||
______________ | ||||||||||||||||||||||||||||||||||||
Nine Months Ended | Nine Months Ended | (a) | Includes $33 million payment made to EFH Corp. in 2013 related to the 1997-2002 IRS appeals settlement. | |||||||||||||||||||||||||||||||||
30-Sep-14 | 30-Sep-13 | (b) | Includes $10 million refund received from EFH Corp. in 2013 related to 1997-2001 amended Texas franchise tax returns. | |||||||||||||||||||||||||||||||||
EFH Corp. | Texas Transmission | Total | EFH Corp. | Texas Transmission | Total | |||||||||||||||||||||||||||||||
Federal income taxes | $ | 140 | $ | 35 | $ | 175 | $ | 48 | $ | 4 | $ | 52 | ||||||||||||||||||||||||
Texas margin taxes | 23 | - | 23 | 12 | - | 12 | ||||||||||||||||||||||||||||||
Total payments (receipts) | $ | 163 | $ | 35 | $ | 198 | $ | 60 | $ | 4 | $ | 64 | ||||||||||||||||||||||||
Supplementary_Financial_Inform1
Supplementary Financial Information (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||
Supplementary Financial Information [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||
Schedule Of Other Income And Deductions | ' | ' | ||||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended | Year Ended December 31, | ||||||||||||||||||||||||||||||||||
September 30, | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | Other income: | ||||||||||||||||||||||||||||||||
Accretion of fair value adjustment (discount) to regulatory assets due to purchase accounting | $ | 17 | $ | 23 | $ | 29 | ||||||||||||||||||||||||||||||
Other income: | Net gain on sale of other properties and investments | 1 | 3 | 1 | ||||||||||||||||||||||||||||||||
Accretion of fair value adjustment (discount) to regulatory assets due to purchase accounting | $ | 3 | $ | 4 | $ | 9 | $ | 14 | Total other income | $ | 18 | $ | 26 | $ | 30 | |||||||||||||||||||||
Other | - | - | 1 | - | Other deductions: | |||||||||||||||||||||||||||||||
Total other income | $ | 3 | $ | 4 | $ | 10 | $ | 14 | Professional fees | $ | 3 | $ | 3 | $ | 4 | |||||||||||||||||||||
Other deductions: | SARs exercise (Note 10) | 2 | 57 | - | ||||||||||||||||||||||||||||||||
Professional fees | $ | 3 | $ | 2 | $ | 10 | $ | 8 | Other | 10 | 4 | 5 | ||||||||||||||||||||||||
Other | 1 | - | 1 | 3 | Total other deductions | $ | 15 | $ | 64 | $ | 9 | |||||||||||||||||||||||||
Total other deductions | $ | 4 | $ | 2 | $ | 11 | $ | 11 | ||||||||||||||||||||||||||||
Schedule Of Interest Expense And Related Charges | ' | ' | ||||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended | Year Ended December 31, | ||||||||||||||||||||||||||||||||||
September 30, | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||
Interest expense | $ | 360 | $ | 366 | $ | 359 | ||||||||||||||||||||||||||||||
Interest expense | $ | 89 | $ | 90 | $ | 267 | $ | 270 | Amortization of debt issuance costs and discounts | 21 | 18 | 3 | ||||||||||||||||||||||||
Amortization of debt issuance costs and discounts | 1 | 6 | 2 | 21 | Allowance for funds used during construction – capitalized interest portion | -10 | -10 | -3 | ||||||||||||||||||||||||||||
Allowance for funds used during construction – capitalized interest portion | -1 | -2 | -3 | -8 | Total interest expense and related charges | $ | 371 | $ | 374 | $ | 359 | |||||||||||||||||||||||||
Total interest expense and related charges | $ | 89 | $ | 94 | $ | 266 | $ | 283 | ||||||||||||||||||||||||||||
Schedule Of Restricted Cash | ' | ' | ||||||||||||||||||||||||||||||||||
At December 31, 2013 | At December 31, 2012 | |||||||||||||||||||||||||||||||||||
Current Assets | Noncurrent Assets | Current Assets | Noncurrent Assets | |||||||||||||||||||||||||||||||||
Customer collections related to transition bonds used only to service debt and pay expenses | $ | 52 | $ | - | $ | 55 | $ | - | ||||||||||||||||||||||||||||
Reserve for fees associated with transition bonds | - | 10 | - | 10 | ||||||||||||||||||||||||||||||||
Reserve for shortfalls of transition bond charges | - | 6 | - | 6 | ||||||||||||||||||||||||||||||||
Total restricted cash | $ | 52 | $ | 16 | $ | 55 | $ | 16 | ||||||||||||||||||||||||||||
Schedule Of Trade Accounts Receivable | ' | ' | ||||||||||||||||||||||||||||||||||
At September 30, | At December 31, | At December 31, | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||||||||||
Gross trade accounts receivable | $ | 527 | $ | 395 | ||||||||||||||||||||||||||||||||
Gross trade accounts receivable | $ | 626 | $ | 527 | Trade accounts receivable from TCEH | -139 | -55 | |||||||||||||||||||||||||||||
Trade accounts receivable from TCEH | -154 | -139 | Allowance for uncollectible accounts | -3 | -2 | |||||||||||||||||||||||||||||||
Allowance for uncollectible accounts | -3 | -3 | Trade accounts receivable from nonaffiliates – net | $ | 385 | $ | 338 | |||||||||||||||||||||||||||||
Trade accounts receivable from nonaffiliates – net | $ | 469 | $ | 385 | ||||||||||||||||||||||||||||||||
Summary of Investment Balance | ' | ' | ||||||||||||||||||||||||||||||||||
At September 30, | At December 31, | At December 31, | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||||||||||
Assets related to employee benefit plans, including employee savings programs | $ | 88 | $ | 80 | ||||||||||||||||||||||||||||||||
Assets related to employee benefit plans, including employee savings | $ | 93 | $ | 88 | Land | 3 | 3 | |||||||||||||||||||||||||||||
programs | Total investments and other property | $ | 91 | $ | 83 | |||||||||||||||||||||||||||||||
Land | 3 | 3 | ||||||||||||||||||||||||||||||||||
Total investments and other property | $ | 96 | $ | 91 | ||||||||||||||||||||||||||||||||
Schedule Of Property, Plant And Equipment | ' | ' | ||||||||||||||||||||||||||||||||||
At September 30, | At December 31, | Composite Depreciation Rate/ | At December 31, | |||||||||||||||||||||||||||||||||
2014 | 2013 | Avg. Life at December 31, 2013 | 2013 | 2012 | ||||||||||||||||||||||||||||||||
Total assets in service | $ | 17,938 | $ | 17,056 | Assets in service: | |||||||||||||||||||||||||||||||
Less accumulated depreciation | 6,030 | 5,725 | Distribution | 4.1% / 24.6 years | $ | 10,055 | $ | 9,745 | ||||||||||||||||||||||||||||
Net of accumulated depreciation | 11,908 | 11,331 | Transmission | 2.8% / 35.8 years | 6,133 | 5,482 | ||||||||||||||||||||||||||||||
Construction work in progress | 347 | 556 | Other assets | 9.1% / 11.0 years | 868 | 856 | ||||||||||||||||||||||||||||||
Held for future use | 15 | 15 | Total | 17,056 | 16,083 | |||||||||||||||||||||||||||||||
Property, plant and equipment – net | $ | 12,270 | $ | 11,902 | Less accumulated depreciation | 5,725 | 5,407 | |||||||||||||||||||||||||||||
Net of accumulated depreciation | 11,331 | 10,676 | ||||||||||||||||||||||||||||||||||
Construction work in progress | 556 | 627 | ||||||||||||||||||||||||||||||||||
Held for future use | 15 | 15 | ||||||||||||||||||||||||||||||||||
Property, plant and equipment – net | $ | 11,902 | $ | 11,318 | ||||||||||||||||||||||||||||||||
Schedule Of Intangible Assets | ' | ' | ||||||||||||||||||||||||||||||||||
At September 30, 2014 | At December 31, 2013 | At December 31, 2013 | At December 31, 2012 | |||||||||||||||||||||||||||||||||
Gross | Gross | Gross | Gross | |||||||||||||||||||||||||||||||||
Carrying | Accumulated | Carrying | Accumulated | Carrying | Accumulated | Carrying | Accumulated | |||||||||||||||||||||||||||||
Amount | Amortization | Net | Amount | Amortization | Net | Amount | Amortization | Net | Amount | Amortization | Net | |||||||||||||||||||||||||
Identifiable intangible assets subject to amortization included in property, plant and equipment: | ||||||||||||||||||||||||||||||||||||
Identifiable intangible assets subject to amortization included in property, plant and equipment: | Land easements | $ | 440 | $ | 82 | $ | 358 | $ | 295 | $ | 79 | $ | 216 | |||||||||||||||||||||||
Land easements | $ | 452 | $ | 85 | $ | 367 | $ | 440 | $ | 82 | $ | 358 | Capitalized software | 385 | 189 | 196 | 409 | 220 | 189 | |||||||||||||||||
Capitalized software | 422 | 228 | 194 | 385 | 189 | 196 | Total | $ | 825 | $ | 271 | $ | 554 | $ | 704 | $ | 299 | $ | 405 | |||||||||||||||||
Total | $ | 874 | $ | 313 | $ | 561 | $ | 825 | $ | 271 | $ | 554 | ||||||||||||||||||||||||
Schedule Of Estimated Aggregate Amortization Expenses | ' | ' | ||||||||||||||||||||||||||||||||||
Year | Amortization Expense | Year | Amortization Expense | |||||||||||||||||||||||||||||||||
2014 | $ | 58 | 2014 | $ | 55 | |||||||||||||||||||||||||||||||
2015 | 60 | 2015 | 55 | |||||||||||||||||||||||||||||||||
2016 | 57 | 2016 | 52 | |||||||||||||||||||||||||||||||||
2017 | 49 | 2017 | 44 | |||||||||||||||||||||||||||||||||
2018 | 45 | 2018 | 40 | |||||||||||||||||||||||||||||||||
Schedule Of Other Noncurrent Liabilities And Deferred Credits | ' | ' | ||||||||||||||||||||||||||||||||||
At September 30, | At December 31, | At December 31, | ||||||||||||||||||||||||||||||||||
2014 | 2013 | 2013 | 2012 | |||||||||||||||||||||||||||||||||
Retirement plans and other employee benefits | $ | 1,399 | $ | 1,495 | ||||||||||||||||||||||||||||||||
Retirement plans and other employee benefits | $ | 1,434 | $ | 1,399 | Uncertain tax positions (including accrued interest) | 56 | 169 | |||||||||||||||||||||||||||||
Uncertain tax positions (including accrued interest) | 37 | 56 | Amount payable related to income taxes | 17 | - | |||||||||||||||||||||||||||||||
Amount payable related to income taxes | 17 | 17 | Investment tax credits | 20 | 24 | |||||||||||||||||||||||||||||||
Investment tax credits | 18 | 20 | Other | 62 | 58 | |||||||||||||||||||||||||||||||
Other | 72 | 62 | Total other noncurrent liabilities and deferred credits | $ | 1,554 | $ | 1,746 | |||||||||||||||||||||||||||||
Total other noncurrent liabilities and deferred credits | $ | 1,578 | $ | 1,554 | ||||||||||||||||||||||||||||||||
Schedule Of Supplemental Cash Flow Information | ' | ' | ||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||
Cash payments (receipts) related to: | ||||||||||||||||||||||||||||||||||||
Cash payments (receipts) related to: | Interest | $ | 361 | $ | 378 | $ | 360 | |||||||||||||||||||||||||||||
Interest | $ | 296 | $ | 300 | Capitalized interest | -10 | -10 | -3 | ||||||||||||||||||||||||||||
Capitalized interest | -3 | -8 | Interest (net of amounts capitalized) | 351 | 368 | 357 | ||||||||||||||||||||||||||||||
Interest (net of amounts capitalized) | $ | 293 | $ | 292 | Amount in lieu of income taxes: | |||||||||||||||||||||||||||||||
Amount in lieu of income taxes (a): | Federal | 89 | -23 | -134 | ||||||||||||||||||||||||||||||||
Federal | $ | 175 | $ | 52 | State | 12 | 21 | 20 | ||||||||||||||||||||||||||||
State | 23 | 12 | Total amount in lieu of income taxes | 101 | -2 | -114 | ||||||||||||||||||||||||||||||
Total amount in lieu of income taxes | $ | 198 | $ | 64 | SARs exercise | 4 | 64 | - | ||||||||||||||||||||||||||||
Noncash construction expenditures (b) | $ | 34 | $ | 55 | Noncash construction expenditures (a) | 84 | 103 | 140 | ||||||||||||||||||||||||||||
_____________ | ______________ | |||||||||||||||||||||||||||||||||||
(a) | See Note 10 for additional information regarding income taxes. | (a)Represents end-of-period accruals. | ||||||||||||||||||||||||||||||||||
Represents end-of-period accruals. | ||||||||||||||||||||||||||||||||||||
Schedule Of Quarterly Information | ' | ' | ||||||||||||||||||||||||||||||||||
2013 | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | ||||||||||||||||||||||||||||||||
Operating revenues | $ | 817 | $ | 857 | $ | 966 | $ | 912 | ||||||||||||||||||||||||||||
Operating income | 180 | 189 | 239 | 190 | ||||||||||||||||||||||||||||||||
Net income | 87 | 96 | 146 | 103 | ||||||||||||||||||||||||||||||||
2012 | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | ||||||||||||||||||||||||||||||||
Operating revenues | $ | 783 | $ | 828 | $ | 925 | $ | 792 | ||||||||||||||||||||||||||||
Operating income | 157 | 188 | 230 | 156 | ||||||||||||||||||||||||||||||||
Net income (a) | 75 | 107 | 139 | 28 | ||||||||||||||||||||||||||||||||
______________ | ||||||||||||||||||||||||||||||||||||
(a)Fourth quarter 2012 reflects a $57 million pre-tax charge to expense associated with the SARs settlement (see Note 10 | ||||||||||||||||||||||||||||||||||||
Recovered_Sheet2
Business and Significant Accounting Policies (Details) (USD $) | 1 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
Nov. 30, 2008 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2004 | Dec. 31, 2003 | Dec. 31, 2002 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | |
entity | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Oncor [Member] | Texas Transmission [Member] | ||||||||
TCEH [Member] | TCEH [Member] | TCEH [Member] | TCEH [Member] | TCEH [Member] | TCEH [Member] | TCEH [Member] | |||||||||||
Description of Business [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 27.00% | 28.00% | 26.00% | 28.00% | 27.00% | 29.00% | 33.00% | ' | ' |
Percentage of membership interest owned by company | ' | 80.03% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.03% | ' |
Percentage of membership interest owned by non-controlling owners | ' | 19.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19.75% |
Number of entities that would possibly be bankrupt | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of transition bonds issued | ' | ' | ' | ' | ' | $1,300,000,000 | $1,300,000,000 | $1,300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets and goodwill impairments | ' | ' | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of equity interest sold in the event of bankruptcy | 19.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity AFUDC | ' | ' | $0 | $1,000,000 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
EFH_Bankruptcy_Proceedings_Nar
EFH Bankruptcy Proceedings (Narrative) (Details) (USD $) | 5 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Apr. 28, 2014 |
EFH Bankruptcy Proceedings [Abstract] | ' | ' |
Amount receivable from related party | ' | $129 |
Amount collected from related party | $127 | ' |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 |
In Millions, unless otherwise specified | EFH Corp [Member] | EFH Corp [Member] | EFH Corp [Member] | EFH Corp [Member] | ||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Liability in lieu of deferred income taxes | $2,376 | $2,414 | $2,180 | ' | ' | ' | ' | ' |
Alternative minimum tax credit carryforward | ' | 21 | 52 | ' | ' | ' | ' | ' |
Net operating loss carryforwards | ' | 162 | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in liability for uncertain tax positions | ' | ' | ' | ' | ' | ' | -32 | ' |
Increase (Decrease) in liability for deferred income taxes | 15 | ' | ' | ' | ' | ' | -10 | 58 |
Reversal of accrued interest and tax | 2 | ' | ' | ' | ' | 3 | 5 | 18 |
Reversal of accrued interest and tax after tax | 1 | ' | ' | ' | ' | ' | 3 | 12 |
Income tax payments to members | ' | ' | ' | ' | 33 | ' | ' | ' |
Income tax refunds from members | ' | ' | ' | ' | 10 | ' | ' | ' |
Uncertain tax positions related to timing of recognition | 19 | 51 | 133 | ' | ' | ' | ' | 76 |
Accrued interest | ' | 2 | 25 | ' | ' | ' | ' | ' |
Expense (benefit) from interest and penalties | ' | -15 | 3 | 2 | ' | ' | ' | ' |
Potential reduction in liability | ' | $3 | ' | ' | ' | ' | ' | ' |
Income_Taxes_Components_Of_Inc
Income Taxes (Components Of Income Tax Provisions (Benefits)) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Taxes [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Current: US federal | ' | ' | ' | ' | $51 | $23 | ($55) |
Current: State | ' | ' | ' | ' | 12 | 21 | 21 |
Deferred: US federal | ' | ' | ' | ' | 181 | 200 | 248 |
Deferred: State | ' | ' | ' | ' | 6 | ' | ' |
Amortization of investment tax credits | ' | ' | ' | ' | -3 | -4 | -5 |
Total reported in operating expenses | 98 | 93 | 221 | 190 | 247 | 240 | 209 |
US federal | ' | ' | ' | ' | -5 | -14 | 9 |
State | ' | ' | ' | ' | ' | ' | 1 |
Deferred federal | ' | ' | ' | ' | 7 | 8 | 10 |
Total | ' | ' | ' | ' | 2 | -6 | 20 |
Total provision in lieu of income taxes | ' | ' | ' | ' | $249 | $234 | $229 |
Income_Taxes_Schedule_Of_Incom
Income Taxes (Schedule Of Income Tax Reconciliation) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
Income before provision in lieu of income taxes | $681 | $583 | $596 |
Provision in lieu of income taxes at the US federal statutory rate of 35% | 238 | 204 | 209 |
Amortization of investment tax credits - net of deferred tax effect | -3 | -4 | -5 |
Amortization (under regulatory accounting) of statutory tax rate changes | -2 | -3 | -3 |
Amortization of Medicare subsidy regulatory asset | 14 | 14 | ' |
Texas margin tax, net of federal tax benefit | 15 | 14 | 14 |
Nondeductible losses (gains) on benefit plan investments | -3 | -2 | -1 |
Other, including audit settlements | -10 | 11 | 15 |
Total provision in lieu of income taxes | $249 | $234 | $229 |
Effective rate | 36.60% | 40.10% | 38.40% |
US federal statutory rate | 35.00% | 35.00% | 35.00% |
Income_Taxes_Schedule_Of_Chang
Income Taxes (Schedule Of Changes To Uncertain Tax Positions) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Taxes [Abstract] | ' | ' | ' | |
Balance at January 1, excluding interest and penalties | $144 | $126 | $82 | |
Additions based on tax positions related to prior years | ' | 18 | 44 | |
Reductions based on tax positions related to prior years | -66 | [1] | ' | ' |
Reduction related to 1997-2002 IRS appeals settlement | -24 | ' | ' | |
Balance at December 31, excluding interest and penalties | $54 | $144 | $126 | |
[1] | Includes IRS audit for the years 2003 through 2006. |
Regulatory_Matters_Details
Regulatory Matters (Details) (USD $) | Sep. 30, 2014 | Aug. 21, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | item | item | |
Regulatory Matters [Abstract] | ' | ' | ' |
Number of original jurisdiction cities | 204 | ' | 204 |
Number of other parties appealed various portions of rate review final order to a state district court, | 4 | ' | 4 |
Number of issues which revised the judgment | 2 | ' | 2 |
Estimated impact on earnings, minimum | ' | $0 | ' |
Estimated impact on earnings, maximum | ' | $130 | ' |
Recovered_Sheet3
Regulatory Assets And Liabilities (Narrative) (Details) (USD $) | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Oct. 10, 2007 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Residential Retail Customer [Member] | Minimum [Member] | Maximum [Member] | Over Collection of Transition Bond Revenues [Member] | Over Collection of Transition Bond Revenues [Member] | Over Collection of Transition Bond Revenues [Member] | Over Collection of Transition Bond Revenues [Member] | Deferred AMS Costs [Member] | Deferred AMS Costs [Member] | Generation Related Regulatory Assets Securitized by Transition Bonds [Member] | Generation Related Regulatory Assets Securitized by Transition Bonds [Member] | Generation Related Regulatory Assets Securitized by Transition Bonds [Member] | Bondco [Member] | Bondco [Member] | Bondco [Member] | ||||
Non-Residential Retail Customer [Member] | Non-Residential Retail Customer [Member] | |||||||||||||||||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction in regulatory assets net of regulatory liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $213,000,000 | ' | ' | ' | ' | ' |
Expected surcharge | 1,023,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recovery period | '11 years | ' | ' | ' | ' | ' | '9 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost recovery factor | ' | ' | ' | 2.19 | 2.39 | 5.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net regulatory asset | $1,324,000,000 | $1,111,000,000 | $1,788,000,000 | ' | ' | ' | ' | $37,000,000 | $35,000,000 | $33,000,000 | $62,000,000 | $2,000,000 | $261,000,000 | $173,000,000 | $368,000,000 | $136,000,000 | $226,000,000 | $335,000,000 |
Recovered_Sheet4
Regulatory Assets And Liabilities (Components Of Regulatory Assets And Liabilities) (Details) (USD $) | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Carrying Amount, Regulatory Assets | $1,681 | $1,771 | $2,093 | |||
Carrying Amount, Regulatory Liabilities | 570 | 447 | 305 | |||
Net regulatory asset | 1,111 | 1,324 | 1,788 | |||
Bondco [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Net regulatory asset | 136 | 226 | 335 | |||
Estimated Net Removal Costs [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Remaining Rate Recovery/Amortization Period | 'Life of utility plant | 'Life of utility plant | ' | |||
Carrying Amount, Regulatory Liabilities | 495 | 385 | 244 | |||
Investment Tax Credit and Protected Excess Deferred Taxes [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Carrying Amount, Regulatory Assets | ' | 23 | ' | |||
Remaining Rate Recovery/Amortization Period | 'Various | 'Various | ' | |||
Carrying Amount, Regulatory Liabilities | 18 | 23 | 28 | |||
Over Collection of Transition Bond Revenues [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Carrying Amount, Regulatory Assets | ' | 35 | [1],[2] | ' | ||
Remaining Rate Recovery/Amortization Period | '2 years | [1],[2] | '2 years | [1],[3] | ' | |
Carrying Amount, Regulatory Liabilities | 37 | [1],[2] | 35 | [1],[3] | 33 | [1],[3] |
Net regulatory asset | 37 | 35 | 33 | |||
Energy Efficiency Programs [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Carrying Amount, Regulatory Assets | ' | 4 | [1] | ' | ||
Remaining Rate Recovery/Amortization Period | 'Not applicable | [1] | 'Not applicable | [1] | ' | |
Carrying Amount, Regulatory Liabilities | 20 | [1] | 4 | [1] | ' | |
Generation Related Regulatory Assets Securitized by Transition Bonds [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Remaining Rate Recovery/Amortization Period | '2 years | [1],[2] | '2 years | [1],[3] | ' | |
Carrying Amount, Regulatory Assets | 183 | [1],[2] | 281 | [1],[2],[3] | 409 | [1],[3] |
Net regulatory asset | 173 | 261 | 368 | |||
Employee Retirement Costs [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Remaining Rate Recovery/Amortization Period | '5 years | '6 years | ' | |||
Carrying Amount, Regulatory Assets | 59 | 71 | 87 | |||
Employee Retirement Costs to be Reviewed [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Remaining Rate Recovery/Amortization Period | 'To be determined | [4],[5] | 'To be determined | [4],[5] | ' | |
Carrying Amount, Regulatory Assets | 241 | [4],[5] | 224 | [4],[5] | 186 | [4],[5] |
Employee Retirement Liability [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Remaining Rate Recovery/Amortization Period | 'To be determined | [1],[5],[6] | 'To be determined | [1],[5],[6] | ' | |
Carrying Amount, Regulatory Assets | 520 | [1],[5],[6] | 491 | [1],[5],[6] | 738 | [1],[5],[6] |
Self Insurance Reserve (Primarily Storm Recovery Costs) - Net [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Remaining Rate Recovery/Amortization Period | '5 years | '6 years | ' | |||
Carrying Amount, Regulatory Assets | 135 | 158 | 190 | |||
Self Insurance Reserve to be Reviewed [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Remaining Rate Recovery/Amortization Period | 'To be determined | [4],[5] | 'To be determined | [4],[5] | ' | |
Carrying Amount, Regulatory Assets | 206 | [4],[5] | 196 | [4],[5] | 128 | [4],[5] |
Securities Reacquisition Costs (Pre-Industry Restructure) [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Remaining Rate Recovery/Amortization Period | '3 years | '3 years | ' | |||
Carrying Amount, Regulatory Assets | 26 | 32 | 41 | |||
Securities Reacquisition Costs (Post Industry Restructure) - Net [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Remaining Rate Recovery/Amortization Period | 'Terms of related debt | 'Terms of related debt | ' | |||
Carrying Amount, Regulatory Assets | 6 | 5 | 22 | |||
Recoverable Amounts In Lieu Of Deferred Income Taxes - Net [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Remaining Rate Recovery/Amortization Period | 'Life of related asset or liability | 'Life of related asset or liability | ' | |||
Carrying Amount, Regulatory Assets | 19 | 42 | 71 | |||
Rate Review Expenses [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Remaining Rate Recovery/Amortization Period | 'Various | [1] | 'Largely 2 years | [1],[3] | ' | |
Carrying Amount, Regulatory Assets | 4 | [1] | 4 | [1],[3] | 6 | [1],[3] |
Advanced Meter Customer Education Costs [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Remaining Rate Recovery/Amortization Period | '5 years | '6 years | ' | |||
Carrying Amount, Regulatory Assets | 7 | 8 | 10 | |||
Deferred Conventional Meter And Metering Facilities Depreciation [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Remaining Rate Recovery/Amortization Period | 'Largely 6 years | 'Largely 7 years | ' | |||
Carrying Amount, Regulatory Assets | 129 | 146 | 152 | |||
Deferred AMS Costs [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Remaining Rate Recovery/Amortization Period | 'To be determined | '6 years | ' | |||
Carrying Amount, Regulatory Assets | 101 | 62 | 2 | |||
Net regulatory asset | ' | 62 | 2 | |||
Energy Efficiency Performance Bonus [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Remaining Rate Recovery/Amortization Period | '1 year | [1] | '1 year | [1] | ' | |
Carrying Amount, Regulatory Assets | 25 | [1] | 12 | [1] | 9 | [1] |
Under Recovered Wholesale Transmission Service Expense - Net [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Remaining Rate Recovery/Amortization Period | '1 year | [1] | '1 year | [1] | ' | |
Carrying Amount, Regulatory Assets | 18 | [1] | 37 | [1] | 40 | [1] |
Energy Efficiency Programs [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Remaining Rate Recovery/Amortization Period | ' | 'Not applicable | [1] | ' | ||
Carrying Amount, Regulatory Assets | ' | ' | 1 | [1] | ||
Other Regulatory Assets [Member] | ' | ' | ' | |||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ' | |||
Remaining Rate Recovery/Amortization Period | 'Various | 'Various | ' | |||
Carrying Amount, Regulatory Assets | $2 | $2 | $1 | |||
[1] | Not earning a return in the regulatory rate-setting process. | |||||
[2] | Bondco net regulatory assets of $136 million at September 30, 2014 consisted of $173 million included in generation-related regulatory assets net of the regulatory liability for over-collection of transition bond revenues of $37 million. Bondco net regulatory assets of $226 million at December 31, 2013 consisted of $261 million included in generation-related regulatory assets net of the regulatory liability for over-collection of transition bond revenues of $35 million | |||||
[3] | Bondco net regulatory assets of $226 million at December 31, 2013 consisted of $261 million included in generation-related regulatory assets net of the regulatory liability for over-collection of transition bond revenues of $35 million. Bondco net regulatory assets of $335 million at December 31, 2012 consisted of $368 million included in generation-related regulatory assets net of the regulatory liability for over-collection of transition bond revenues of $33 million.In August 2011, the PUCT issued a final order in our rate review filed in January 2011. The rate review included a determination of the recoverability of regulatory assets at June 30, 2010, including the recoverability period of those assets deemed allowable by the PUCT.In accordance with the PUCT’s August 2009 order in our rate review, the remaining net book value and the approved amount of removal cost of existing conventional meters that were replaced by advanced meters are being charged to depreciation and amortization expense over an 11-year cost recovery period.In September 2008, the PUCT approved a settlement for us to recover our estimated future investment for advanced metering deployment. We began billing the AMS surcharge in the January 2009 billing month cycle. The surcharge is expected to total $1.023 billion over the 11-year recovery period and includes a cost recovery factor of $2.19 per month per residential retail customer and $2.39 to $5.15 per month for non-residential retail customers. We account for the difference between the surcharge billings for advanced metering facilities and the allowable revenues under the surcharge provisions, which are based on expenditures and an allowed return, as a regulatory asset or liability. Such differences arise principally as a result of timing of expenditures. As indicated in the table above, the regulatory asset at December 31, 2013 and 2012 totaled $62 million and $2 million, respectively.As a result of purchase accounting, in 2007 the carrying value of certain generation-related regulatory assets securitized by transition bonds, which have been reviewed and approved by the PUCT for recovery but without earning a rate of return, was reduced by $213 million. This amount will be accreted to other income over the recovery period remaining at October 10, 2007 (approximately nine years). See Note 11 for information regarding nuclear decommissioning cost recovery. | |||||
[4] | Costs incurred since the period covered under the last rate review. | |||||
[5] | Recovery is specifically authorized by statute or by the PUCT, subject to reasonableness review. | |||||
[6] | Represents unfunded liabilities recorded in accordance with pension and OPEB accounting standards. |
Borrowings_Under_Credit_Facili1
Borrowings Under Credit Facilities (Details) (USD $) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
item | item | ||
Line of Credit Facility [Line Items] | ' | ' | ' |
Secured revolving credit facility | $2,400,000,000 | $2,400,000,000 | ' |
Number of revolving credit facilities extension options | 2 | 2 | ' |
Extension period for revolving line of credit | '1 year | '1 year | ' |
Additional increase in borrowing capacity amount | 100,000,000 | 100,000,000 | ' |
Outstanding borrowing under the revolving credit facility | 720,000,000 | 745,000,000 | 735,000,000 |
Outstanding borrowing, interest rate | 1.28% | 1.67% | 1.46% |
Letters of credit | 7,000,000 | 6,000,000 | 6,000,000 |
Commitment fee | 0.13% | 0.23% | ' |
Borrowing capacity available under the credit facility | 1,673,000,000 | 1,649,000,000 | 1,659,000,000 |
Percentage of fair value and cost of property additions | 85.00% | 85.00% | ' |
Available bond credits | 2,199,000,000 | 2,176,000,000 | ' |
Additional potential indebtedness | 1,407,000,000 | 1,173,000,000 | ' |
Maximum indebtness amount before default | ' | 100,000,000 | ' |
Maximum judgement for payment amount before default | ' | $50,000,000 | ' |
Discharge period | ' | '60 years | ' |
Maximum [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Commitment rate reduction under the revolving credit facility | 0.28% | 0.28% | ' |
Senior debt-to-capitalization ratio | 0.65% | ' | ' |
Required debt-to-capitalization ratio | ' | 1 | ' |
Debt-to-capitalization ratio | ' | 1 | ' |
Minimum [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Commitment rate reduction under the revolving credit facility | 0.10% | 0.10% | ' |
Required debt-to-capitalization ratio | ' | 0.65 | ' |
Debt-to-capitalization ratio | ' | 0.45 | ' |
Letter of Credit [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Outstanding borrowing, interest rate | 1.33% | 1.70% | ' |
London Interbank Offered Rate (LIBOR) [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Spread over variable rate | 1.13% | 1.50% | ' |
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Spread over variable rate | 1.75% | 1.75% | ' |
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Spread over variable rate | 1.00% | 1.00% | ' |
Federal Funds Effective Rate [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Spread over variable rate | 0.50% | 0.50% | ' |
One Month LIBOR [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Spread over variable rate | 1.00% | 1.00% | ' |
One Month LIBOR [Member] | Maximum [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Spread over variable rate | 0.75% | 0.75% | ' |
One Month LIBOR [Member] | Minimum [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Spread over variable rate | 0.00% | 0.00% | ' |
LongTerm_Debt_Narrative_Detail
Long-Term Debt (Narrative) (Details) (USD $) | 1 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | ||||||||||||||||||||||||||||||||||||||
31-May-12 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 31-May-14 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2014 | 31-May-13 | Dec. 31, 2012 | Nov. 30, 2011 | 31-May-12 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | 31-May-12 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | |||||||||||||||||
2.150% Fixed Senior Notes Due June 1, 2019 [Member] | 2.150% Fixed Senior Notes Due June 1, 2019 [Member] | 4.550% Fixed Senior Notes Due December 1, 2041 [Member] | 4.550% Fixed Senior Notes Due December 1, 2041 [Member] | 4.550% Fixed Senior Notes Due December 1, 2041 [Member] | 5.950% Fixed Senior Notes Due September 1, 2013 [Member] | 6.375% Fixed Senior Notes Due January 15, 2015 [Member] | 6.375% Fixed Senior Notes Due January 15, 2015 [Member] | 6.375% Fixed Senior Notes Due January 15, 2015 [Member] | 5.250% Fixed Senior Notes Due September 30, 2040 [Member] | 5.250% Fixed Senior Notes Due September 30, 2040 [Member] | 5.250% Fixed Senior Notes Due September 30, 2040 [Member] | 5.250% Fixed Senior Notes Due September 30, 2040 [Member] | 5.250% Fixed Senior Notes Due September 30, 2040 [Member] | 4.100% Fixed Senior Notes Due June 1, 2022 [Member] | 4.100% Fixed Senior Notes Due June 1, 2022 [Member] | 4.100% Fixed Senior Notes Due June 1, 2022 [Member] | 4.100% Fixed Senior Notes Due June 1, 2022 [Member] | 5.300% Fixed Senior Notes Due June 1, 2042 [Member] | 5.300% Fixed Senior Notes Due June 1, 2042 [Member] | 5.300% Fixed Senior Notes Due June 1, 2042 [Member] | 5.300% Fixed Senior Notes Due June 1, 2042 [Member] | Transition Bond [Member] | |||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||
Repayments of long-term debt | ' | $89,000,000 | $84,000,000 | $125,000,000 | $1,018,000,000 | $113,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||
Debt principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 524,000,000 | ' | ' | 376,000,000 | ' | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 118,000,000 | ||||||||||||||||
Proceeds from sale of Notes | 890,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||
Proceeds from issuance of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 107,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||
Note redemption price to principal amount, percentage | ' | ' | ' | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||
Make-whole amount | ' | ' | ' | ' | 33,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||
Amount of debt issued | ' | ' | ' | ' | ' | ' | 250,000,000 | 250,000,000 | [1] | 400,000,000 | [1] | 400,000,000 | [1],[2] | 300,000,000 | [2] | ' | 500,000,000 | [1] | 500,000,000 | [1],[2] | 500,000,000 | [2] | 475,000,000 | [1],[2] | 475,000,000 | [1] | ' | 475,000,000 | [2] | ' | ' | 400,000,000 | [1] | 400,000,000 | [1],[2] | 400,000,000 | [2] | ' | 500,000,000 | [1] | 500,000,000 | [1],[2] | 500,000,000 | [2] | ' |
Percentage of interest | ' | ' | ' | ' | ' | ' | 2.15% | 2.15% | 4.55% | 4.55% | ' | 5.95% | 6.38% | 6.38% | 6.38% | 5.25% | 5.25% | ' | ' | ' | 4.10% | 4.10% | 4.10% | ' | 5.30% | 5.30% | 5.30% | ' | ' | ||||||||||||||||
Issuance of long-term debt | ' | 250,000,000 | 100,000,000 | 100,000,000 | 900,000,000 | 300,000,000 | 248,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000,000 | ' | ' | ' | 500,000,000 | ' | ' | ' | ' | ||||||||||||||||
Percentage of principal amount plus accrued and unpaid interest and make-whole premium | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||
Increase in basis points | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||
Percentage of fair value of cost of property additions certified to the Deed of Trust collateral agent | ' | ' | ' | 85.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||
Future debt subject to property additions to the Deed of Trust | ' | ' | ' | 1,173,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||
Estimated fair value of our long-term debt including current maturities | ' | 6,759,000,000 | ' | 6,188,000,000 | 6,568,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||
Carrying amount | ' | $5,677,000,000 | ' | $5,512,000,000 | $5,525,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||
[1] | Secured by first priority lien on certain transmission and distribution assets equally and ratably with all of Oncor’s other secured indebtedness. See “Deed of Trust†in Note 6 to Financial Statements in our 2013 Form 10-K for additional information. | ||||||||||||||||||||||||||||||||||||||||||||
[2] | Secured by first priority lien on certain transmission and distribution assets equally and ratably with all of Oncor’s other secured indebtedness. See “Deed of Trust†below for additional information. |
LongTerm_Debt_Schedule_Of_Long
Long-Term Debt (Schedule Of Long-Term Debt) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | 31-May-14 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | 31-May-12 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | 31-May-12 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | 6.375% Fixed Senior Notes Due January 15, 2015 [Member] | 6.375% Fixed Senior Notes Due January 15, 2015 [Member] | 6.375% Fixed Senior Notes Due January 15, 2015 [Member] | 5.000% Fixed Senior Notes Due September 30, 2017 [Member] | 5.000% Fixed Senior Notes Due September 30, 2017 [Member] | 5.000% Fixed Senior Notes Due September 30, 2017 [Member] | 6.800% Fixed Senior Notes Due September 1, 2018 [Member] | 6.800% Fixed Senior Notes Due September 1, 2018 [Member] | 6.800% Fixed Senior Notes Due September 1, 2018 [Member] | 2.150% Fixed Senior Notes Due June 1, 2019 [Member] | 2.150% Fixed Senior Notes Due June 1, 2019 [Member] | 5.750% Fixed Senior Notes Due September 30, 2020 [Member] | 5.750% Fixed Senior Notes Due September 30, 2020 [Member] | 5.750% Fixed Senior Notes Due September 30, 2020 [Member] | 4.100% Fixed Senior Notes Due June 1, 2022 [Member] | 4.100% Fixed Senior Notes Due June 1, 2022 [Member] | 4.100% Fixed Senior Notes Due June 1, 2022 [Member] | 4.100% Fixed Senior Notes Due June 1, 2022 [Member] | 7.000% Fixed Debentures Due September 1, 2022 [Member] | 7.000% Fixed Debentures Due September 1, 2022 [Member] | 7.000% Fixed Debentures Due September 1, 2022 [Member] | 7.000% Fixed Senior Notes Due May 1, 2032 [Member] | 7.000% Fixed Senior Notes Due May 1, 2032 [Member] | 7.000% Fixed Senior Notes Due May 1, 2032 [Member] | 7.250% Fixed Senior Notes Due January 15, 2033 [Member] | 7.250% Fixed Senior Notes Due January 15, 2033 [Member] | 7.250% Fixed Senior Notes Due January 15, 2033 [Member] | 7.500% Fixed Senior Notes Due September 1, 2038 [Member] | 7.500% Fixed Senior Notes Due September 1, 2038 [Member] | 7.500% Fixed Senior Notes Due September 1, 2038 [Member] | 5.250% Fixed Senior Notes Due September 30, 2040 [Member] | 5.250% Fixed Senior Notes Due September 30, 2040 [Member] | 5.250% Fixed Senior Notes Due September 30, 2040 [Member] | 4.550% Fixed Senior Notes Due December 1, 2041 [Member] | 4.550% Fixed Senior Notes Due December 1, 2041 [Member] | 4.550% Fixed Senior Notes Due December 1, 2041 [Member] | 5.300% Fixed Senior Notes Due June 1, 2042 [Member] | 5.300% Fixed Senior Notes Due June 1, 2042 [Member] | 5.300% Fixed Senior Notes Due June 1, 2042 [Member] | 5.300% Fixed Senior Notes Due June 1, 2042 [Member] | 4.950% Fixed Series 2003 Bonds Due Through February 15, 2013 [Member] | 4.950% Fixed Series 2003 Bonds Due Through February 15, 2013 [Member] | 5.420% Fixed Series 2003 Bonds Due Through August 15, 2015 [Member] | 5.420% Fixed Series 2003 Bonds Due Through August 15, 2015 [Member] | 5.420% Fixed Series 2003 Bonds Due Through August 15, 2015 [Member] | 5.290% Fixed Series 2004 Bonds Due Through May 15, 2016 [Member] | 5.290% Fixed Series 2004 Bonds Due Through May 15, 2016 [Member] | 5.290% Fixed Series 2004 Bonds Due Through May 15, 2016 [Member] | Oncor [Member] | Oncor [Member] | Oncor [Member] | Bondco [Member] | Bondco [Member] | Bondco [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Senior Note | ' | ' | ' | $500 | [1] | $500 | [1],[2] | $500 | [2] | $324 | [1] | $324 | [1],[2] | $324 | [2] | $550 | [1] | $550 | [1],[2] | $550 | [2] | $250 | [1] | $250 | $126 | [1] | $126 | [1],[2] | $126 | [2] | $400 | [1] | $400 | [1],[2] | $400 | [2] | ' | $800 | [1] | $800 | [1],[2] | $800 | [2] | $500 | [1] | $500 | [1],[2] | $500 | [2] | $350 | [1] | $350 | [1],[2] | $350 | [2] | $300 | [1] | $300 | [1],[2] | $300 | [2] | $475 | [1] | $475 | [1],[2] | $475 | [2] | $400 | [1] | $400 | [1],[2] | $300 | [2] | $500 | [1] | $500 | [1],[2] | $500 | [2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||
Unamortized discount | ' | -23 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -20 | [1] | -23 | [1],[2] | -35 | [2] | ' | -1 | [3] | -1 | [3] | |||||||||||||||||||||||||||||||||||||||||||||
Fixed Bonds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10 | [3] | 54 | [3] | 106 | [3] | 145 | [3] | 168 | [3] | 205 | [3] | 281 | [3] | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||
Less amount due currently | ' | -131 | -125 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -500 | [1] | ' | ' | -136 | [3] | -131 | [3] | -125 | [3] | ||||||||||||||||||||||||||||||||||||||||||||||
Total long-term debt, less amounts due currently | $5,041 | $5,381 | $5,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,955 | [1] | $5,202 | [1],[2] | $5,090 | [2] | $86 | [3] | $179 | [3] | $310 | [3] | ||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest | ' | ' | ' | 6.38% | 6.38% | 6.38% | 5.00% | 5.00% | ' | 6.80% | 6.80% | ' | 2.15% | 2.15% | 5.75% | 5.75% | ' | 4.10% | 4.10% | ' | 4.10% | 7.00% | 7.00% | ' | 7.00% | 7.00% | ' | 7.25% | 7.25% | ' | 7.50% | 7.50% | ' | 5.25% | 5.25% | ' | 4.55% | 4.55% | ' | 5.30% | 5.30% | ' | 5.30% | 4.95% | ' | 5.42% | 5.42% | ' | 5.29% | 5.29% | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||
Due date | ' | ' | ' | 15-Jan-15 | 15-Jan-15 | ' | 30-Sep-17 | 30-Sep-17 | ' | 1-Sep-18 | 1-Sep-18 | ' | 1-Jun-19 | ' | 30-Sep-20 | 30-Sep-20 | ' | 1-Jun-22 | 1-Jun-22 | ' | ' | 1-Sep-22 | 1-Sep-22 | ' | 1-May-32 | 1-May-32 | ' | 15-Jan-33 | 15-Jan-33 | ' | 1-Sep-38 | 1-Sep-38 | ' | 30-Sep-40 | 30-Sep-40 | ' | 1-Dec-41 | 1-Dec-41 | ' | 1-Jun-42 | 1-Jun-42 | ' | ' | 15-Feb-13 | ' | 15-Aug-15 | 15-Aug-15 | ' | 15-May-16 | 15-May-16 | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | Secured by first priority lien on certain transmission and distribution assets equally and ratably with all of Oncor’s other secured indebtedness. See “Deed of Trust†in Note 6 to Financial Statements in our 2013 Form 10-K for additional information. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Secured by first priority lien on certain transmission and distribution assets equally and ratably with all of Oncor’s other secured indebtedness. See “Deed of Trust†below for additional information. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | The transition bonds are nonrecourse to Oncor and were issued to securitize a regulatory asset. |
LongTerm_Debt_Schedule_Of_Long1
Long-Term Debt (Schedule Of Long-Term Debt Maturity) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | |||
Borrowings Under Credit Facilities And Long-Term Debt [Abstract] | ' | ' | ' |
2014 | ' | $131 | ' |
2015 | ' | 639 | ' |
2016 | ' | 41 | ' |
2017 | ' | 324 | ' |
2018 | ' | 550 | ' |
Thereafter | ' | 3,851 | ' |
Unamortized fair value discount | ' | -1 | ' |
Unamortized discount | ' | -23 | ' |
Total | $5,677 | $5,512 | $5,525 |
Commitments_And_Contingencies_1
Commitments And Contingencies (Details) (USD $) | 9 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Commitments And Contingencies [Abstract] | ' | ' | ' | ' |
Rent expenses | ' | $10 | $15 | $15 |
Required efficiency spending amount | ' | 62 | ' | ' |
Aggregate maximum amount of residual values guaranteed | 6 | 7 | ' | ' |
Average life of the residual value guarantees under the lease portfolio | '2 years 4 months 24 days | '2 years 2 months 12 days | ' | ' |
Guarantee of repayment of borrowings | ' | ' | $7 | ' |
Commitments_And_Contingencies_2
Commitments And Contingencies (Schedule Of Future Miinimum Lease Payments Under Operating Leases) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Commitments And Contingencies [Abstract] | ' |
2014 | $6 |
2015 | 4 |
2016 | 3 |
2017 | 1 |
Total future minimum lease payments | $14 |
Membership_Interests_Narrative
Membership Interests (Narrative) (Details) (USD $) | 9 Months Ended | 12 Months Ended | 0 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 21, 2014 | Feb. 19, 2014 |
Subsequent Event [Member] | Subsequent Event [Member] | ||||||
Declaration of cash distribution to members | $181 | $215 | $310 | $225 | $145 | $101 | $53 |
Assumed debt to equity ratio, debt | 60.00% | ' | 60.00% | ' | ' | ' | ' |
Assumed debt to equity ratio, equity | 40.00% | ' | 40.00% | ' | ' | ' | ' |
Regulatory capitalization ratio, debt | 58.70% | ' | 58.70% | ' | ' | ' | ' |
Regulatory capitalization ratio, equity | 41.30% | ' | 41.30% | ' | ' | ' | ' |
Cash available for distribution under the capital structure restriction | $193 | ' | $192 | ' | ' | ' | ' |
Membership_Interests_Schedule_
Membership Interests (Schedule Of Distributions Paid) (Details) (USD $) | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Dividends Payable [Line Items] | ' | ' | ' | ' | ' |
Amount | $181 | $215 | $310 | $225 | $145 |
Payment Three FY 2014 [Member] | ' | ' | ' | ' | ' |
Dividends Payable [Line Items] | ' | ' | ' | ' | ' |
Declaration Date | 30-Jul-14 | ' | ' | ' | ' |
Payment Date | 31-Jul-14 | ' | ' | ' | ' |
Amount | 71 | ' | ' | ' | ' |
Payment Two FY 2014 [Member] | ' | ' | ' | ' | ' |
Dividends Payable [Line Items] | ' | ' | ' | ' | ' |
Declaration Date | 30-Apr-14 | ' | ' | ' | ' |
Payment Date | 1-May-14 | ' | ' | ' | ' |
Amount | 57 | ' | ' | ' | ' |
Payment One FY 2014 [Member] | ' | ' | ' | ' | ' |
Dividends Payable [Line Items] | ' | ' | ' | ' | ' |
Declaration Date | 19-Feb-14 | ' | ' | ' | ' |
Payment Date | 20-Feb-14 | ' | ' | ' | ' |
Amount | 53 | ' | ' | ' | ' |
Payment Four FY 2013 [Member] | ' | ' | ' | ' | ' |
Dividends Payable [Line Items] | ' | ' | ' | ' | ' |
Declaration Date | ' | ' | 29-Oct-13 | ' | ' |
Payment Date | ' | ' | 31-Oct-13 | ' | ' |
Amount | ' | ' | 95 | ' | ' |
Payment Three FY 2013 [Member] | ' | ' | ' | ' | ' |
Dividends Payable [Line Items] | ' | ' | ' | ' | ' |
Declaration Date | ' | ' | 31-Jul-13 | ' | ' |
Payment Date | ' | ' | 1-Aug-13 | ' | ' |
Amount | ' | ' | 95 | ' | ' |
Payment Two FY 2013 [Member] | ' | ' | ' | ' | ' |
Dividends Payable [Line Items] | ' | ' | ' | ' | ' |
Declaration Date | ' | ' | 1-May-13 | ' | ' |
Payment Date | ' | ' | 2-May-13 | ' | ' |
Amount | ' | ' | 70 | ' | ' |
Payment One FY 2013 [Member] | ' | ' | ' | ' | ' |
Dividends Payable [Line Items] | ' | ' | ' | ' | ' |
Declaration Date | ' | ' | 13-Feb-13 | ' | ' |
Payment Date | ' | ' | 15-Feb-13 | ' | ' |
Amount | ' | ' | 50 | ' | ' |
Payment Four FY 2012 [Member] | ' | ' | ' | ' | ' |
Dividends Payable [Line Items] | ' | ' | ' | ' | ' |
Declaration Date | ' | ' | ' | 24-Oct-12 | ' |
Payment Date | ' | ' | ' | 30-Oct-12 | ' |
Amount | ' | ' | ' | 70 | ' |
Payment Three FY 2012 [Member] | ' | ' | ' | ' | ' |
Dividends Payable [Line Items] | ' | ' | ' | ' | ' |
Declaration Date | ' | ' | ' | 25-Jul-12 | ' |
Payment Date | ' | ' | ' | 31-Jul-12 | ' |
Amount | ' | ' | ' | 50 | ' |
Payment Two FY 2012 [Member] | ' | ' | ' | ' | ' |
Dividends Payable [Line Items] | ' | ' | ' | ' | ' |
Declaration Date | ' | ' | ' | 25-Apr-12 | ' |
Payment Date | ' | ' | ' | 1-May-12 | ' |
Amount | ' | ' | ' | 60 | ' |
Payment One FY 2012 [Member] | ' | ' | ' | ' | ' |
Dividends Payable [Line Items] | ' | ' | ' | ' | ' |
Declaration Date | ' | ' | ' | 14-Feb-12 | ' |
Payment Date | ' | ' | ' | 21-Feb-12 | ' |
Amount | ' | ' | ' | $45 | ' |
Membership_Interests_Schedule_1
Membership Interests (Schedule Of Changes To Membership Interests) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Balance | ' | $7,419 | ' | ' | $7,304 | ' | ' | ' | ' | $7,409 | $7,304 | $7,304 | ' | ' | ||||
Net income | 158 | 103 | 146 | 96 | 87 | 28 | [1] | 139 | [1] | 107 | [1] | 75 | [1] | 355 | 329 | 432 | 349 | 367 |
Distributions | ' | ' | ' | ' | ' | ' | ' | ' | ' | -181 | -215 | -310 | -225 | -145 | ||||
Net effects of cash flow hedges (net of tax) | 1 | ' | 1 | ' | ' | ' | ' | ' | ' | 2 | 3 | 2 | 3 | -29 | ||||
Defined benefit pension plans (net of tax) | -1 | ' | ' | ' | ' | ' | ' | ' | ' | -1 | -1 | -19 | -3 | ' | ||||
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1 | ' | ' | ' | ||||
Balance | 7,584 | 7,409 | 7,419 | ' | ' | 7,304 | ' | ' | ' | 7,584 | 7,419 | 7,409 | 7,304 | ' | ||||
Capital Accounts [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Balance | ' | ' | ' | ' | 7,335 | ' | ' | ' | ' | 7,457 | 7,335 | 7,335 | ' | ' | ||||
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 355 | 329 | ' | ' | ' | ||||
Distributions | ' | ' | ' | ' | ' | ' | ' | ' | ' | -181 | -215 | ' | ' | ' | ||||
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1 | ' | ' | ' | ||||
Balance | 7,631 | ' | 7,448 | ' | ' | ' | ' | ' | ' | 7,631 | 7,448 | ' | ' | ' | ||||
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Balance | ' | ' | ' | ' | -31 | ' | ' | ' | ' | -48 | -31 | -31 | ' | ' | ||||
Net effects of cash flow hedges (net of tax) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 3 | ' | ' | ' | ||||
Defined benefit pension plans (net of tax) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1 | -1 | ' | ' | ' | ||||
Balance | ($47) | ' | ($29) | ' | ' | ' | ' | ' | ' | ($47) | ($29) | ' | ' | ' | ||||
[1] | Fourth quarter 2012 reflects a $57 million pre-tax charge to expense associated with the SARs settlement (see Note 10). |
Membership_Interests_Schedule_2
Membership Interests (Schedule Of Changes To Accumulated Other Comprehensive Income (Loss)) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
In Millions, unless otherwise specified | Cash Flow Hedges - Interest Rate Swap [Member] | Cash Flow Hedges - Interest Rate Swap [Member] | Cash Flow Hedges - Interest Rate Swap [Member] | Defined Benefit Pension and OPEB Plans [Member] | Defined Benefit Pension and OPEB Plans [Member] | Defined Benefit Pension and OPEB Plans [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at beginning of period | ($47) | ($48) | ($31) | ($31) | ($2) | ($26) | ($28) | ($28) | ($22) | ($3) | ($3) | ($48) | ($31) | ($31) |
Defined benefit pension plans (net of tax) | ' | ' | ' | ' | ' | ' | ' | ' | -1 | -1 | -19 | -1 | -1 | -19 |
Amounts reclassified from accumulated other comprehensive income (loss) and reported in interest expense and related charges | ' | ' | ' | ' | ' | 2 | 3 | 2 | ' | ' | ' | 2 | 3 | 2 |
Balance at end of period | ($47) | ($48) | ($31) | ($31) | ($2) | ($24) | ($25) | ($26) | ($23) | ($4) | ($22) | ($47) | ($29) | ($48) |
Pension_and_Other_Postretireme1
Pension and Other Postretirement Employee Benefits Plans (Narrative) (Details) (USD $) | 2 Months Ended | 3 Months Ended | 6 Months Ended | 7 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2012 | Dec. 31, 2012 | Jun. 30, 2014 | Jul. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 01, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Jul. 01, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
item | Minimum [Member] | Maximum [Member] | Oncor Retirement Plan [Member] | Oncor Retirement Plan [Member] | Pension And OPEB [Member] | Pension And OPEB [Member] | EFH Retirement Plan [Member] | EFH Retirement Plan [Member] | EFH Retirement Plan [Member] | Defined Benefit Pension Plans [Member] | Defined Benefit Pension Plans [Member] | Defined Benefit Pension Plans [Member] | Pension Plan [Member] | Pension Plan [Member] | Pension Plan [Member] | Pension Plan [Member] | Pension Plan [Member] | Pension Plan [Member] | Pension Plan [Member] | OPEB Plan [Member] | OPEB Plan [Member] | OPEB Plan [Member] | OPEB Plan [Member] | OPEB Plan [Member] | OPEB Plan [Member] | Oncor Cash Balance Formula Retirement Plan [Member] | Oncor Traditional Retirement Plan Formula Retirement Plan [Member] | Thrift Plan [Member] | Thrift Plan [Member] | Thrift Plan [Member] | |||||||||||
item | item | 2014 [Member] | 2014 To 2018 [Member] | 2014 [Member] | 2014 To 2018 [Member] | ||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Number of defined pension plans in which the Company participates | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Unfunded liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $104 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Increase (decrease) in projected benefit obligation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Increase (decrease) in projected benefit obligation, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | ' | ' | ' | ' | ' | ' | ' | |||
Increase (decrease) in fair value of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Increase (decrease) in fair value of assets, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' | ' | ' | ' | ' | ' | ' | |||
Increase (decrease) in regulatory assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 64 | ' | ' | ' | ' | ' | ' | ' | |||
Increase (decrease) in regulatory assets, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | |||
Discount rate | 4.15% | 4.20% | 4.98% | 5.00% | ' | ' | ' | ' | ' | ' | 4.72% | ' | ' | ' | ' | 5.07% | ' | ' | ' | ' | ' | ' | ' | ' | 4.10% | [1] | 5.00% | [1] | 5.50% | [1] | 4.39% | 4.39% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected return on plan assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.48% | ' | ' | ' | ' | 6.17% | ' | ' | ' | ' | ' | ' | ' | ' | 6.14% | 7.40% | 7.70% | ' | 7.05% | 7.05% | ' | ' | ' | ' | ' | ' | ' | ' | |||
Earning period | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Cash contributions | ' | ' | ' | ' | ' | 20 | 104 | 193 | ' | ' | ' | ' | ' | ' | 259 | ' | ' | ' | ' | ' | ' | ' | 67 | ' | 9 | 93 | 175 | ' | 12 | ' | ' | ' | ' | ' | ' | 13 | 12 | 12 | |||
Rolling period | ' | ' | ' | ' | ' | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Percentage of gains and losses | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Number of corporate bonds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,095 | ' | ' | ' | ' | 389 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Funded status of plans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 87 | 408 | ' | ' | ' | ' | -586 | -711 | ' | ' | ' | ' | ' | 15 | 139 | ' | ' | ' | ' | ' | |||
Amortization of net actuarial loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 39 | ' | ' | -9 | -17 | -29 | -52 | -69 | -78 | -63 | ' | ' | 26 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Amortization of prior service costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | 20 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Percentage of regular salary | ' | ' | ' | ' | ' | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Contribution by employee, percentage | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Percentage of employee's contribution match by employer | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 75.00% | ' | ' | ' | |||
Percentage of employee's contribution matched 100% by employer | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | 6.00% | ' | ' | ' | |||
Additional cash contributions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Regulatory assets | ' | $2,093 | ' | ' | $1,681 | $1,771 | $2,093 | ' | ' | ' | ' | ' | $786 | $1,011 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
[1] | As a result of the 2012 amendments discussed above, the discount rate reflected in net pension costs for January through July 2012 was 5.00%, for August through September 2012 was 4.15% and for October through December 2012 was 4.20%. |
Pension_and_Other_Postretireme2
Pension and Other Postretirement Employee Benefits Plans (Recognized Net Periodic Pension And Benefit Costs) (Details) (USD $) | 2 Months Ended | 3 Months Ended | 6 Months Ended | 7 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
In Millions, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Jul. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Discount rate | 4.15% | ' | ' | 4.20% | 4.98% | 5.00% | ' | ' | ' | ' | ' | |||
Net costs | ' | $27 | $32 | ' | ' | ' | $78 | $98 | $132 | $206 | $169 | |||
Less amounts deferred principally as property or a regulatory asset | ' | -18 | -23 | ' | ' | ' | -51 | -71 | ' | ' | ' | |||
Net amounts recognized as expense | ' | 9 | 9 | ' | ' | ' | 27 | 27 | ' | ' | ' | |||
Pension Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Discount rate | ' | ' | ' | ' | ' | ' | ' | ' | 4.10% | [1] | 5.00% | [1] | 5.50% | [1] |
Expected return on plan assets | ' | ' | ' | ' | ' | ' | ' | ' | 6.14% | 7.40% | 7.70% | |||
Rate of compensation increase | ' | ' | ' | ' | ' | ' | ' | ' | 3.94% | 3.81% | 3.74% | |||
Service cost | ' | 6 | 6 | ' | ' | ' | 18 | 18 | 26 | 23 | 20 | |||
Interest cost | ' | 33 | 31 | ' | ' | ' | 99 | 92 | 122 | 106 | 110 | |||
Expected return on assets | ' | -34 | -31 | ' | ' | ' | -102 | -91 | -123 | -109 | -99 | |||
Amortization of prior service costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | |||
Amortization of net loss | ' | 9 | 17 | ' | ' | ' | 29 | 52 | 69 | 78 | 63 | |||
Settlement charges | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 81 | ' | |||
Net costs | ' | 14 | 23 | ' | ' | ' | 44 | 71 | 95 | 179 | 95 | |||
Less amounts deferred principally as property or a regulatory asset | ' | ' | ' | ' | ' | ' | ' | ' | -209 | -54 | 42 | |||
Net amounts recognized as expense | ' | ' | ' | ' | ' | ' | ' | ' | -114 | 125 | 137 | |||
OPEB [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Discount rate | ' | ' | ' | ' | ' | ' | ' | ' | 4.10% | [1] | 4.95% | [1] | 5.55% | [1] |
Expected return on plan assets | ' | ' | ' | ' | ' | ' | ' | ' | 6.70% | 6.80% | 7.10% | |||
Service cost | ' | 2 | 1 | ' | ' | ' | 5 | 4 | 6 | 5 | 7 | |||
Interest cost | ' | 11 | 9 | ' | ' | ' | 33 | 28 | 36 | 39 | 54 | |||
Expected return on assets | ' | -3 | -3 | ' | ' | ' | -9 | -9 | -11 | -12 | -14 | |||
Amortization of net transition obligation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | |||
Amortization of prior service costs | ' | -5 | -5 | ' | ' | ' | -15 | -15 | -20 | -20 | -1 | |||
Amortization of net loss | ' | 8 | 7 | ' | ' | ' | 20 | 19 | 26 | 14 | 27 | |||
Net costs | ' | 13 | 9 | ' | ' | ' | 34 | 27 | 37 | 27 | 74 | |||
Less amounts deferred principally as property or a regulatory asset | ' | ' | ' | ' | ' | ' | ' | ' | -6 | 88 | -245 | |||
Net amounts recognized as expense | ' | ' | ' | ' | ' | ' | ' | ' | $31 | $115 | ($171) | |||
[1] | As a result of the 2012 amendments discussed above, the discount rate reflected in net pension costs for January through July 2012 was 5.00%, for August through September 2012 was 4.15% and for October through December 2012 was 4.20%. |
Recovered_Sheet5
Pension And Other Postretirement Employee Benefits Plans (Schedule Of Pension And OPEB Plan Costs) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Total benefit costs | $27 | $32 | $78 | $98 | $132 | $206 | $169 |
Less amounts deferred principally as property or a regulatory asset | ' | ' | ' | ' | -95 | -169 | -132 |
Net amounts recognized as expense | ' | ' | ' | ' | 37 | 37 | 37 |
Pension Plan [Member] | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Total benefit costs | 14 | 23 | 44 | 71 | 95 | 179 | 95 |
OPEB [Member] | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Total benefit costs | $13 | $9 | $34 | $27 | $37 | $27 | $74 |
Recovered_Sheet6
Pension And Other Postretirement Employee Benefits Plans (Benefit Obligations Recognized In Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Total recognized as regulatory assets or other comprehensive income | ($18) | ($23) | ($51) | ($71) | ' | ' | ' |
Net amounts recognized as expense | 9 | 9 | 27 | 27 | ' | ' | ' |
Pension Plan [Member] | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Net loss (gain) | ' | ' | ' | ' | -139 | 110 | 106 |
Amortization of net loss | ' | ' | ' | ' | -69 | -78 | -63 |
Amortization of prior service (costs) credit | ' | ' | ' | ' | ' | ' | -1 |
Amortization of prior service (costs) credit | ' | ' | ' | ' | ' | ' | -1 |
Settlement charges | ' | ' | ' | ' | -1 | -81 | ' |
Curtailment | ' | ' | ' | ' | ' | -5 | ' |
Total recognized as regulatory assets or other comprehensive income | ' | ' | ' | ' | -209 | -54 | 42 |
Net amounts recognized as expense | ' | ' | ' | ' | -114 | 125 | 137 |
OPEB [Member] | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Net loss (gain) | ' | ' | ' | ' | ' | 83 | -91 |
Prior service cost (credit) | ' | ' | ' | ' | ' | ' | -127 |
Amortization of net loss | ' | ' | ' | ' | -26 | -14 | -27 |
Amortization of transition obligation (asset) | ' | ' | ' | ' | ' | -1 | -1 |
Amortization of prior service (costs) credit | 5 | 5 | 15 | 15 | 20 | 20 | 1 |
Amortization of prior service (costs) credit | ' | ' | ' | ' | 20 | 20 | 1 |
Total recognized as regulatory assets or other comprehensive income | ' | ' | ' | ' | -6 | 88 | -245 |
Net amounts recognized as expense | ' | ' | ' | ' | $31 | $115 | ($171) |
Pension_And_Other_Postretireme3
Pension And Other Postretirement Employee Benefit Plans (Assumptions Used To Determine Benefit Obligations) (Details) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Pension Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Discount rate | 4.74% | 4.10% | 5.00% |
Rate of compensation increase | 3.94% | 3.94% | 3.81% |
OPEB [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Discount rate | 4.98% | 4.10% | 4.95% |
Pension_And_Other_Postretireme4
Pension And Other Postretirement Employee Benefit Plans (Change In Project Benefit Obligations) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Pension Plan [Member] | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Projected benefit obligation at beginning of year | ' | ' | $2,857 | $3,038 | $3,038 | $2,215 | ' |
Service cost | 6 | 6 | 18 | 18 | 26 | 23 | 20 |
Interest cost | 33 | 31 | 99 | 92 | 122 | 106 | 110 |
Settlement | ' | ' | ' | ' | -3 | -268 | ' |
Curtailment | ' | ' | ' | ' | ' | -5 | ' |
Assumption of liabilities | ' | ' | ' | ' | ' | 860 | ' |
Actuarial (gain) loss | ' | ' | ' | ' | -183 | 198 | ' |
Benefits paid | ' | ' | ' | ' | -143 | -91 | ' |
Projected benefit obligation at end of year | ' | ' | ' | ' | 2,857 | 3,038 | 2,215 |
Accumulated benefit obligation at end of year | ' | ' | ' | ' | 2,752 | 2,908 | ' |
OPEB [Member] | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Projected benefit obligation at beginning of year | ' | ' | 924 | 913 | 913 | 809 | ' |
Service cost | 2 | 1 | 5 | 4 | 6 | 5 | 7 |
Interest cost | 11 | 9 | 33 | 28 | 36 | 39 | 54 |
Participant contributions | ' | ' | ' | ' | 14 | 15 | ' |
Medicare Part D reimbursement | ' | ' | ' | ' | 2 | 3 | ' |
Assumption of liabilities | ' | ' | ' | ' | ' | 6 | ' |
Actuarial (gain) loss | ' | ' | ' | ' | 10 | 94 | ' |
Benefits paid | ' | ' | ' | ' | -57 | -58 | ' |
Projected benefit obligation at end of year | ' | ' | ' | ' | $924 | $913 | $809 |
Pension_And_Other_Postretireme5
Pension And Other Postretirement Employee Benefit Plans (Change In Plan Assets) (Details) (USD $) | 9 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Employer contributions | ' | $20 | $104 | $193 |
Pension Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Fair value of assets at beginning of year | 2,271 | 2,327 | 1,542 | ' |
Actual return (loss) on assets | ' | 80 | 199 | ' |
Employer contributions | 67 | 9 | 93 | 175 |
Settlement | ' | -2 | -268 | ' |
Assets related to assumed liability | ' | ' | 852 | ' |
Benefits paid | ' | -143 | -91 | ' |
Fair value of assets at end of year | ' | 2,271 | 2,327 | 1,542 |
OPEB [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Fair value of assets at beginning of year | ' | 190 | 197 | ' |
Actual return (loss) on assets | ' | 21 | 25 | ' |
Employer contributions | ' | 11 | 11 | 18 |
Participant contributions | ' | 14 | 15 | ' |
Benefits paid | ' | -57 | -58 | ' |
Fair value of assets at end of year | ' | $179 | $190 | $197 |
Pension_And_Other_Postretireme6
Pension And Other Postretirement Employee Benefit Plans (Funded Status) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Pension Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Projected benefit obligation at end of year | ($2,857) | ($3,038) | ($2,215) |
Fair value of assets at end of year | 2,271 | 2,327 | 1,542 |
Funded status at end of year | -586 | -711 | ' |
OPEB [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Projected benefit obligation at end of year | -924 | -913 | -809 |
Fair value of assets at end of year | 179 | 190 | 197 |
Funded status at end of year | ($745) | ($723) | ' |
Pension_And_Other_Postretireme7
Pension And Other Postretirement Employee Benefits Plans (Amounts Recognized In Balance Sheet) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | |||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' |
Accumulated other comprehensive net loss | ($47) | ($48) | ($31) | ($31) | ($2) |
Pension Plan [Member] | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' |
Other current liabilities | ' | -3 | -3 | ' | ' |
Other noncurrent liabilities | ' | -583 | -708 | ' | ' |
Net liability recognized | ' | -586 | -711 | ' | ' |
Net loss | ' | 362 | 602 | ' | ' |
Net regulatory asset recognized | ' | 362 | 602 | ' | ' |
Accumulated other comprehensive net loss | ' | 33 | 3 | ' | ' |
OPEB [Member] | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' |
Other noncurrent liabilities | ' | -745 | -723 | ' | ' |
Net liability recognized | ' | -745 | -723 | ' | ' |
Net loss | ' | 220 | 247 | ' | ' |
Prior service cost (credit) | ' | -91 | -111 | ' | ' |
Net regulatory asset recognized | ' | 129 | 136 | ' | ' |
Accumulated other comprehensive net loss | ' | $1 | $1 | ' | ' |
Pension_And_Other_Postretireme8
Pension And Other Postretirement Employee Benefits Plans (Schedule Of Assumed Health Care Cost Trend Rates) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Healthcare Eligibility [Line Items] | ' | ' |
Effect on accumulated postretirement obligation, 1-Percentage Point Increase | $117 | ' |
Effect on accumulated postretirement obligation, 1-Percentage Point Decrease | ' | -97 |
Effect on postretirement benefits cost, 1-Percentage Point Increase | 7 | ' |
Effect on postretirement benefits cost, 1-Percentage Point Decrease | ' | ($6) |
Not Medicare Eligible [Member] | ' | ' |
Healthcare Eligibility [Line Items] | ' | ' |
Health care cost trend rate assumed for next year | 8.00% | 8.50% |
Rate to which the cost trend is expected to decline (the ultimate trend rate) | 5.00% | 5.00% |
Year that the rate reaches the ultimate trend rate | '2022 | '2022 |
Medicare Eligible [MEmber] | ' | ' |
Healthcare Eligibility [Line Items] | ' | ' |
Health care cost trend rate assumed for next year | 7.00% | 7.50% |
Rate to which the cost trend is expected to decline (the ultimate trend rate) | 5.00% | 5.00% |
Year that the rate reaches the ultimate trend rate | '2021 | '2021 |
Pension_And_Other_Postretireme9
Pension And Other Postretirement Employee Benefits Plans (Schedule Of Projected Benefit Obligations And Accumulated Benefit Obligations In Excess Of Plan Assets Fair Value) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Pension and Other Postretirement Employee Benefits Plans [Abstract] | ' | ' |
Projected benefit obligations | $2,857 | $3,038 |
Accumulated benefit obligations | 2,752 | 2,908 |
Plan assets | $2,271 | $2,327 |
Recovered_Sheet7
Pension And Other Postretirement Employee Benefits Plans (Schedule Of Target Asset Allocation Ranges By Asset Category) (Details) | 12 Months Ended |
Dec. 31, 2013 | |
US Equities [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target asset allocation, Recoverable, Minimum | 24.00% |
Target asset allocation, Recoverable, Maximum | 30.00% |
International Equities [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target asset allocation, Recoverable, Minimum | 19.00% |
Target asset allocation, Recoverable, Maximum | 25.00% |
Fixed Income [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Target asset allocation, Recoverable, Minimum | 45.00% |
Target asset allocation, Recoverable, Maximum | 57.00% |
Target asset allocation, Nonrecoverable | 100.00% |
Recovered_Sheet8
Pension And Other Postretirement Employee Benefits Plans (Schedule Of Assets Fair Value Measured On Recurring Basis) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | $2,271 | $2,327 | ||
Pension Plan [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 2,271 | 2,327 | ||
OPEB [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 179 | 190 | ||
US Equities [Member] | Pension Plan [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 332 | 301 | ||
US Equities [Member] | OPEB [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 58 | 55 | ||
International Equities [Member] | Pension Plan [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 344 | 287 | ||
International Equities [Member] | OPEB [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 35 | 31 | ||
Corporate Bond Securities [Member] | Pension Plan [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 1,265 | [1] | 1,319 | [1] |
Corporate Bond Securities [Member] | OPEB [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 34 | [1] | 42 | [1] |
US Treasury Securities [Member] | Pension Plan [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 108 | [1] | 206 | [1] |
US Treasury Securities [Member] | OPEB [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 1 | 4 | ||
Other [Member] | Pension Plan [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 55 | [2] | 73 | [2] |
Other [Member] | OPEB [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 45 | [3] | 48 | [3] |
Preferred Securities [Member] | Pension Plan [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 7 | 7 | ||
Fair Value, Inputs, Level 1 [Member] | Pension Plan [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 587 | 486 | ||
Fair Value, Inputs, Level 1 [Member] | OPEB [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 131 | 125 | ||
Fair Value, Inputs, Level 1 [Member] | US Equities [Member] | Pension Plan [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 250 | 206 | ||
Fair Value, Inputs, Level 1 [Member] | US Equities [Member] | OPEB [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 53 | 49 | ||
Fair Value, Inputs, Level 1 [Member] | International Equities [Member] | Pension Plan [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 337 | 280 | ||
Fair Value, Inputs, Level 1 [Member] | International Equities [Member] | OPEB [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 35 | 31 | ||
Fair Value, Inputs, Level 1 [Member] | Other [Member] | OPEB [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 43 | [3] | 45 | [3] |
Fair Value, Inputs, Level 2 [Member] | Pension Plan [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 1,677 | 1,834 | ||
Fair Value, Inputs, Level 2 [Member] | OPEB [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 48 | 65 | ||
Fair Value, Inputs, Level 2 [Member] | US Equities [Member] | Pension Plan [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 82 | 95 | ||
Fair Value, Inputs, Level 2 [Member] | US Equities [Member] | OPEB [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 5 | 6 | ||
Fair Value, Inputs, Level 2 [Member] | International Equities [Member] | Pension Plan [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 7 | 7 | ||
Fair Value, Inputs, Level 2 [Member] | Corporate Bond Securities [Member] | Pension Plan [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 1,265 | [1] | 1,319 | [1] |
Fair Value, Inputs, Level 2 [Member] | Corporate Bond Securities [Member] | OPEB [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 34 | [1] | 42 | [1] |
Fair Value, Inputs, Level 2 [Member] | US Treasury Securities [Member] | Pension Plan [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 108 | [1] | 206 | [1] |
Fair Value, Inputs, Level 2 [Member] | US Treasury Securities [Member] | OPEB [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 1 | 4 | ||
Fair Value, Inputs, Level 2 [Member] | Other [Member] | Pension Plan [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 55 | [2] | 73 | [2] |
Fair Value, Inputs, Level 2 [Member] | Other [Member] | OPEB [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 2 | [3] | 3 | [3] |
Fair Value, Inputs, Level 3 [Member] | Pension Plan [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 7 | 7 | ||
Fair Value, Inputs, Level 3 [Member] | Preferred Securities [Member] | Pension Plan [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 7 | 7 | ||
Interest-bearing Cash [Member] | Pension Plan [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 160 | 134 | ||
Interest-bearing Cash [Member] | OPEB [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 6 | 10 | ||
Interest-bearing Cash [Member] | Fair Value, Inputs, Level 2 [Member] | Pension Plan [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | 160 | 134 | ||
Interest-bearing Cash [Member] | Fair Value, Inputs, Level 2 [Member] | OPEB [Member] | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Total assets | $6 | $10 | ||
[1] | Substantially all corporate bonds are rated investment grade by a major ratings agency such as Moody’s. | |||
[2] | Other consists primarily of municipal bonds and fixed income derivative instruments. | |||
[3] | Other consists primarily of diversified bond mutual funds. |
Recovered_Sheet9
Pension And Other Postretirement Employee Benefits Plans (Schedule Of Expected Long-Term Rate Of Return On Assets Assumptions) (Details) | 12 Months Ended | |
Dec. 31, 2013 | ||
Pension Plan [Member] | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | |
Weighted average expected long-term rate of return | 7.39% | [1] |
Pension Plan [Member] | International Equities [Member] | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | |
Weighted average expected long-term rate of return | 7.83% | |
Pension Plan [Member] | US Equities [Member] | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | |
Weighted average expected long-term rate of return | 7.20% | |
Pension Plan [Member] | Real Estate [Member] | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | |
Weighted average expected long-term rate of return | 6.20% | |
Pension Plan [Member] | Credit Securities [Member] | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | |
Weighted average expected long-term rate of return | 5.87% | |
Pension Plan [Member] | Fixed Income [Member] | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | |
Weighted average expected long-term rate of return | 5.30% | |
Pension Plan [Member] | Oncor Retirement Plan [Member] | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | |
Weighted average expected long-term rate of return | 4.72% | |
OPEB [Member] | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | |
Weighted average expected long-term rate of return | 7.05% | |
OPEB [Member] | 401(h) Accounts [Member] | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | |
Weighted average expected long-term rate of return | 7.59% | |
OPEB [Member] | Life Insurance VEBA [Member] | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | |
Weighted average expected long-term rate of return | 6.71% | |
OPEB [Member] | Union VEBA [Member] | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | |
Weighted average expected long-term rate of return | 6.71% | |
OPEB [Member] | Non-union VEBA [Member] | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | |
Weighted average expected long-term rate of return | 3.80% | |
[1] | The 2014 expected long-term rate of return for the nonregulated portion of the Oncor Retirement Plan is 4.72%. |
Recovered_Sheet10
Pension And Other Postretirement Employee Benefits Plans (Schedule Of Contributions) (Details) (USD $) | 9 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Total contributions | ' | $20 | $104 | $193 |
Pension Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Total contributions | 67 | 9 | 93 | 175 |
OPEB [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Total contributions | ' | $11 | $11 | $18 |
Recovered_Sheet11
Pension And Other Postretirement Employee Benefits Plans (Schedule Of Estimated Future Benefit Payments) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Pension Plan [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2014 | $155 |
2015 | 159 |
2016 | 165 |
2017 | 169 |
2018 | 175 |
2019-23 | 942 |
OPEB [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2014 | 45 |
2015 | 49 |
2016 | 52 |
2017 | 55 |
2018 | 57 |
2019-23 | $316 |
StockBased_Compensation_Detail
Stock-Based Compensation (Details) (USD $) | 1 Months Ended | 12 Months Ended | |
In Millions, except Share data, unless otherwise specified | Nov. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Exercise payments | ' | $4 | $64 |
Share-based compensation expense | ' | 2 | 57 |
SARs Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Dividend accrual compensation expense | ' | ' | 6 |
SARs [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
SARs exercise price | $14.54 | ' | ' |
Exercise payments | 64 | ' | ' |
Share-based compensation expense | 57 | ' | ' |
Aggregate dividends | 18 | ' | ' |
Recognized dividend accretion and interest | ' | 2 | 1 |
SARs [Member] | Certain Executive Officers [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Deferred dividends | $6 | ' | ' |
SARs [Member] | SARs Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
SARs exercised | 14,322,219 | ' | ' |
SARs [Member] | Director SARs Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
SARs exercised | 55,000 | ' | ' |
RelatedParty_Transactions_Narr
Related-Party Transactions (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | ||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 27, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Aug. 31, 2012 | Jun. 30, 2014 | Aug. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2014 | Sep. 30, 2013 |
Executory Contracts And Unexpired Leases [Member] | Bondco Exposure [Member] | Bondco Exposure [Member] | Subsequent Event [Member] | TCEH [Member] | TCEH [Member] | TCEH [Member] | TCEH [Member] | TCEH [Member] | TCEH [Member] | EFH Corp [Member] | EFH Corp [Member] | EFH Corp [Member] | EFH Corp [Member] | EFH Corp [Member] | EFH Corp [Member] | EFH Corp [Member] | EFH Corp [Member] | EFH Corp [Member] | Maximum [Member] | Maximum [Member] | ||||||||
EFH Corp [Member] | EFH Corp [Member] | |||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from related party | $281 | $273 | $746 | $728 | $967 | $962 | $1,026 | ' | ' | ' | ' | $1 | $1 | $1 | $1 | ' | ' | ' | ' | ' | ' | ' | ' | $2 | $2 | $1 | ' | ' |
Amounts receivable from affiliates | 152 | ' | 152 | ' | 135 | 53 | ' | ' | ' | ' | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unbilled Receivables related to affiliate | 47 | ' | 47 | ' | 56 | 48 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | ' | ' | ' | ' | ' | 16 | 32 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amounts received under the note receivable | ' | ' | ' | ' | ' | 20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note receivable from related party | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 159 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount received from sale of note to related party | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 159 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (decrease) in membership interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2 | ' | ' | ' |
Administrative and services costs | ' | ' | ' | ' | 30 | 32 | 34 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | 8 | 22 | 22 | ' | ' | ' | ' | ' |
Shared facilities expense | ' | ' | ' | ' | 4 | 5 | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | 3 | 3 | ' | ' | ' | ' | ' |
Shared facilities payments received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 1 | ' | ' | ' | 1 | 1 |
Reimbursement payment amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Delivery fee surcharges | ' | ' | ' | ' | 16 | 16 | 17 | ' | ' | ' | ' | 5 | 5 | 13 | 12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letter of credit | ' | ' | ' | ' | 9 | 11 | ' | ' | ' | ' | ' | 9 | ' | 9 | ' | 9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exposure amount | ' | ' | ' | ' | ' | ' | ' | $20 | $16 | $16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
RelatedParty_Transactions_Sche
Related-Party Transactions (Schedule Of Accounts Receivable From Related Party) (Details) (EFH Corp [Member], USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
EFH Corp [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Trade accounts and other receivables from affiliates | $157 | $141 |
Trade accounts and other payables to affiliates | -5 | -6 |
Trade accounts and other receivables from affiliates - net | $152 | $135 |
RelatedParty_Transactions_Amou
Related-Party Transactions (Amounts Payable To (Receivable From) Members In Lieu Of Income Taxes) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | |||
Related Party Transaction [Line Items] | ' | ' | ' |
Federal income taxes receivable | ' | ($23) | ' |
Federal income taxes payable | 47 | -23 | ' |
Texas margin taxes payable | 18 | 23 | 22 |
Total payable (receivable) | 65 | ' | 22 |
EFH Corp [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Federal income taxes receivable | ' | -18 | ' |
Federal income taxes payable | 38 | -18 | ' |
Texas margin taxes payable | 18 | 23 | 22 |
Total payable (receivable) | 56 | 5 | 22 |
Texas Transmission And Investment LLC [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Federal income taxes receivable | ' | -5 | ' |
Federal income taxes payable | 9 | -5 | ' |
Total payable (receivable) | $9 | ($5) | ' |
RelatedParty_Transactions_Cash
Related-Party Transactions (Cash Payments Made To (Received From) Members In Lieu Of Income Taxes) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ||
Federal income taxes | ' | $175 | $52 | $89 | [1] | ($23) | [1] |
Texas margin taxes | ' | 23 | 12 | 12 | [2] | 21 | [2] |
Total payments (receipts) | ' | 198 | 64 | 101 | -2 | ||
EFH Corp [Member] | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ||
Federal income taxes | ' | 140 | 48 | 78 | [1] | -18 | [1] |
Texas margin taxes | ' | 23 | 12 | 12 | [2] | 21 | [2] |
Total payments (receipts) | ' | 163 | 60 | 90 | 3 | ||
Income tax payments to members | 33 | ' | ' | ' | ' | ||
Income tax refunds from members | 10 | ' | ' | ' | ' | ||
Texas Transmission And Investment LLC [Member] | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ||
Federal income taxes | ' | 35 | 4 | 11 | [1] | -5 | [1] |
Total payments (receipts) | ' | $35 | $4 | $11 | ($5) | ||
[1] | Includes $33 million payment made to EFH Corp. in 2013 related to the 1997-2002 IRS appeals settlement. | ||||||
[2] | Includes $10 million refund received from EFH Corp. in 2013 related to 1997-2001 amended Texas franchise tax returns. |
Supplementary_Financial_Inform2
Supplementary Financial Information (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Supplemental Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Face value of life insurance policies | ' | ' | ' | ' | $159 | $152 | ' |
Net cash surrender values | ' | ' | ' | ' | 71 | 65 | ' |
Unbilled revenue | 165 | ' | 165 | ' | 180 | 147 | ' |
Depreciation expense as percentage of average depreciable property | ' | ' | ' | ' | 3.70% | 3.90% | 4.00% |
Aggregate amortization expenses | 15 | 8 | 42 | 38 | 53 | 53 | 48 |
Goodwill | 4,064 | ' | 4,064 | ' | 4,064 | 4,064 | ' |
Uncertain tax positions related to timing of recognition | 19 | ' | 19 | ' | 51 | 133 | ' |
Increase (Decrease) in liability for deferred income taxes | 15 | ' | 15 | ' | ' | ' | ' |
Reversal of provision in lieu of income taxes | 2 | ' | 2 | ' | ' | ' | ' |
Reversal of accrued interest and tax | 2 | ' | 2 | ' | ' | ' | ' |
Reversal of accrued interest and tax after tax | $1 | ' | $1 | ' | ' | ' | ' |
Sales [Member] | TCEH [Member] | ' | ' | ' | ' | ' | ' | ' |
Supplemental Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk Percentage | 27.00% | 28.00% | 26.00% | 28.00% | 27.00% | 29.00% | 33.00% |
Sales [Member] | Nonaffiliated REP [Member] | ' | ' | ' | ' | ' | ' | ' |
Supplemental Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk Percentage | 17.00% | 16.00% | 16.00% | 15.00% | 15.00% | 15.00% | 15.00% |
Nonaffiliated Trade Accounts Receivable [Member] | Nonaffiliated REP [Member] | ' | ' | ' | ' | ' | ' | ' |
Supplemental Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk Percentage | ' | ' | 14.00% | ' | 12.00% | 12.00% | ' |
Land Easements [Member] | ' | ' | ' | ' | ' | ' | ' |
Supplemental Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Weighted average remaining useful life | ' | ' | ' | ' | '85 years | ' | ' |
Capitalized Software [Member] | ' | ' | ' | ' | ' | ' | ' |
Supplemental Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Weighted average remaining useful life | ' | ' | ' | ' | '4 years | ' | ' |
Supplementary_Financial_Inform3
Supplementary Financial Information (Schedule Of Other Income And Deductions) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Supplementary Financial Information [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Accretion of fair value adjustment (discount) to regulatory assets due to purchase accounting | $3 | $4 | $9 | $14 | $17 | $23 | $29 |
Other | ' | ' | 1 | ' | 1 | 3 | 1 |
Total other income | 3 | 4 | 10 | 14 | 18 | 26 | 30 |
Professional fees | 3 | 2 | 10 | 8 | 3 | 3 | 4 |
SARs exercise (Note 10) | ' | ' | ' | ' | 2 | 57 | ' |
Other | 1 | ' | 1 | 3 | 10 | 4 | 5 |
Total other deductions | $4 | $2 | $11 | $11 | $15 | $64 | $9 |
Supplementary_Financial_Inform4
Supplementary Financial Information (Schedule Of Interest Expense And Related Charges) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Supplementary Financial Information [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Interest expense | $89 | $90 | $267 | $270 | $360 | $366 | $359 |
Amortization of debt issuance costs and discounts | 1 | 6 | 2 | 21 | 21 | 18 | 3 |
Allowance for funds used during construction - capitalized interest portion | -1 | -2 | -3 | -8 | -10 | -10 | -3 |
Total interest expense and related charges | $89 | $94 | $266 | $283 | $371 | $374 | $359 |
Supplementary_Financial_Inform5
Supplementary Financial Information (Schedule Of Restricted Cash) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | |||
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' | ' |
Total restricted cash - Current Assets | $67 | $52 | $55 |
Total restricted cash - Noncurrent Assets | 16 | 16 | 16 |
Customer Collections Related To Transition Bonds Used Only To Service Debt And Pay Expenses[Member] | ' | ' | ' |
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' | ' |
Total restricted cash - Current Assets | ' | 52 | 55 |
Reserve For Fees Associated With Transition Bonds [Member] | ' | ' | ' |
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' | ' |
Total restricted cash - Noncurrent Assets | ' | 10 | 10 |
Reserve For Shortfalls Of Transition Bond Charges [Member] | ' | ' | ' |
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' | ' |
Total restricted cash - Noncurrent Assets | ' | $6 | $6 |
Supplementary_Financial_Inform6
Supplementary Financial Information (Schedule Of Trade Accounts Receivable) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | |||
Supplementary Financial Information [Abstract] | ' | ' | ' |
Gross trade accounts receivable | $626 | $527 | $395 |
Trade accounts receivable from TCEH | -154 | -139 | -55 |
Allowance for uncollectible accounts | -3 | -3 | -2 |
Trade accounts receivable from nonaffiliates - net | $469 | $385 | $338 |
Supplementary_Financial_Inform7
Supplementary Financial Information (Summary of Investment Balance) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | |||
Supplementary Financial Information [Abstract] | ' | ' | ' |
Assets related to employee benefit plans, including employee savings programs | $93 | $88 | $80 |
Land | 3 | 3 | 3 |
Total investments and other property | $96 | $91 | $83 |
Supplementary_Financial_Inform8
Supplementary Financial Information (Schedule Of Property, Plant And Equipment) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Distribution [Member] | Distribution [Member] | Transmission [Member] | Transmission [Member] | Other Assets [Member] | Other Assets [Member] | |||
Property Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets in service | $17,938 | $17,056 | $16,083 | $10,055 | $9,745 | $6,133 | $5,482 | $868 | $856 |
Less accumulated depreciation | 6,030 | 5,725 | 5,407 | ' | ' | ' | ' | ' | ' |
Net of accumulated depreciation | 11,908 | 11,331 | 10,676 | ' | ' | ' | ' | ' | ' |
Construction work in progress | 347 | 556 | 627 | ' | ' | ' | ' | ' | ' |
Held for future use | 15 | 15 | 15 | ' | ' | ' | ' | ' | ' |
Property, plant and equipment - net | $12,270 | $11,902 | $11,318 | ' | ' | ' | ' | ' | ' |
Composite depreciation rate | ' | ' | ' | 4.10% | ' | 2.80% | ' | 9.10% | ' |
Avg. life | ' | ' | ' | '24 years 7 months 6 days | ' | '35 years 9 months 18 days | ' | '11 years | ' |
Supplementary_Financial_Inform9
Supplementary Financial Information (Schedule Of Intangible Assets) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | |||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross Carrying Amount | $874 | $825 | ' |
Accumulated Amortization | 313 | 271 | ' |
Net | 561 | 554 | ' |
Land Easements [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross Carrying Amount | 452 | 440 | 295 |
Accumulated Amortization | 85 | 82 | 79 |
Net | 367 | 358 | 216 |
Capitalized Software [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross Carrying Amount | 422 | 385 | 409 |
Accumulated Amortization | 228 | 189 | 220 |
Net | $194 | $196 | $189 |
Recovered_Sheet12
Supplementary Financial Information (Schedule Of Estimated Aggregate Amortization Expenses) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Supplementary Financial Information [Abstract] | ' | ' |
2014 | $58 | $55 |
2015 | 60 | 55 |
2016 | 57 | 52 |
2017 | 49 | 44 |
2018 | $45 | $40 |
Recovered_Sheet13
Supplementary Financial Information (Schedule Of Other Noncurrent Liabilities And Deferred Credits) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | |||
Supplementary Financial Information [Abstract] | ' | ' | ' |
Retirement plans and other employee benefits | $1,434 | $1,399 | $1,495 |
Uncertain tax positions (including accrued interest) | 37 | 56 | 169 |
Amounts payable to members related to income taxes | 17 | 17 | ' |
Investment tax credits | 18 | 20 | 24 |
Other | 72 | 62 | 58 |
Total other noncurrent liabilities and deferred credits | $1,578 | $1,554 | $1,746 |
Recovered_Sheet14
Supplementary Financial Information (Schedule Of Supplemental Cash Flow Information) (Details) (USD $) | 9 Months Ended | 12 Months Ended | ||||||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||
Supplementary Financial Information [Abstract] | ' | ' | ' | ' | ' | |||||
Interest | $296 | $300 | $361 | $378 | $360 | |||||
Capitalized interest | -3 | -8 | -10 | -10 | -3 | |||||
Interest (net of amounts capitalized) | 293 | 292 | 351 | 368 | 357 | |||||
Federal | 175 | [1] | 52 | [1] | 89 | -23 | -134 | |||
State | 23 | [1] | 12 | [1] | 12 | 21 | 20 | |||
Total amount is lieu of income taxes | 198 | [1] | 64 | [1] | 101 | -2 | -114 | |||
SARs exercise | ' | ' | 4 | 64 | ' | |||||
Noncash construction expenditures | $34 | [2] | $55 | [2] | $84 | [2] | $103 | [2] | $140 | [2] |
[1] | See Note 10 for additional information regarding income taxes. | |||||||||
[2] | Represents end-of-period accruals. |
Recovered_Sheet15
Supplementary Financial Information (Schedule Of Quarterly Information) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||
Supplementary Financial Information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | $1,054 | $912 | $966 | $857 | $817 | $792 | $925 | $828 | $783 | $2,883 | $2,640 | $3,552 | $3,328 | $3,118 | ||||
Operating income | 247 | 190 | 239 | 189 | 180 | 156 | 230 | 188 | 157 | 620 | 608 | 798 | 731 | 693 | ||||
Net income | 158 | 103 | 146 | 96 | 87 | 28 | [1] | 139 | [1] | 107 | [1] | 75 | [1] | 355 | 329 | 432 | 349 | 367 |
Pre-tax SARs expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2 | $57 | ' | ||||
[1] | Fourth quarter 2012 reflects a $57 million pre-tax charge to expense associated with the SARs settlement (see Note 10). |