Scana 8-K Other Events

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D. C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 2, 2013

Commission	Registrant, State of Incorporation,	I.R.S. Employer
File Number	Address and Telephone Number	Identification No.
1-8809	SCANA Corporation	57-0784499
	(a South Carolina corporation)
	100 SCANA Parkway, Cayce, South Carolina 29033

Not applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

(17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

(17 CFR 240.13e-4(c))

8.01    Other Events.

In 2013, SCANA Corporation (SCANA) adopted (i) Accounting Standards Update (ASU) No. 2011-11, Balance Sheet (Topic 210) – Disclosures about Offsetting Assets and Liabilities, which enhances disclosures by requiring an entity to disclose information about netting arrangements, including rights of offset, to enable users of its financial statements to understand the effect of those arrangements on its financial position and (ii) ASU No. 2013-01, Balance Sheet (Topic 210) – Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which clarifies the scope of those disclosures.   These ASUs are effective for annual and interim reporting periods beginning on or after January 1, 2013 and are to be applied retrospectively for all comparative periods presented.  The impact of retrospective application of these ASUs was immaterial to SCANA's historical consolidated financial statements.

The following tables present the unaudited retrospective application of ASU No. 2011-11 and ASU No. 2013-01 by providing reconciliation between the gross assets and liabilities reflected on our consolidated balance sheet and the potential effects of netting arrangements on the fair value of SCANA's derivative contracts at December 31, 2011:

								Gross Amounts Not
				Gross Amounts		Net Amounts		Offset in the Statement
				Offset in the		Presented in the		Of Financial Position
		Gross Amounts		Statement of		Statement of			Cash
		of Recognized		Financial		Financial		Financial	Collateral		Net
Millions of dollars		Assets		Position		Position		Instruments	Received		Amount
Interest rate	$	2		-	$	2	$	(1)	-	$	1
Commodity		1	$	(1)		-		-	-		-
Energy management		27		(1)		26		-	-		26
Total	$	30	$	(2)	$	28	$	(1)	-	$	27
Balance sheet location
		Prepayment and other			$	18
		Other deferred debits and other assets				10
		Total			$	28

								Gross Amounts Not
				Gross Amounts		Net Amounts		Offset in the Statement
				Offset in the		Presented in the		Of Financial Position
		Gross Amounts		Statement of		Statement of				Cash
		of Recognized		Financial		Financial		Financial		Collateral			Net
Millions of dollars		Liabilities		Position		Position		Instruments		Posted			Amount
Interest rate	$	158		-	$	158	$	(1)	$	(125	)	$	32
Commodity		14	$	(1)		13		-		(2	)		11
Energy management		25		-		25		-		(13	)		12
Total	$	197	$	(1)	$	196	$	(1)	$	(140	)	$	55
Balance sheet location
		Prepayment and other			$	4
		Other current liabilities				77
		Other deferred credits and other liabilities				115
		Total			$	196

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SCANA Corporation
	(Registrant)
October 2, 2013		By:	/s/James E. Swan, IV
			James E. Swan, IV
			Controller

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