Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended |
Sep. 30, 2013 | |
Entity Registrant Name | 'DPL INC |
Entity Central Index Key | '0000787250 |
Document Type | '10-Q |
Document Period End Date | 30-Sep-13 |
Amendment Flag | 'false |
Current Fiscal Year End Date | '--12-31 |
Entity Current Reporting Status | 'Yes |
Entity Filer Category | 'Non-accelerated Filer |
Document Fiscal Year Focus | '2013 |
Document Fiscal Period Focus | 'Q3 |
Entity Voluntary Filers | 'No |
Entity Well-known Seasoned Issuer | 'No |
DPL [Member] | ' |
Entity Common Stock, Shares Outstanding | 1 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ' |
Entity Common Stock, Shares Outstanding | 41,172,173 |
Consolidated_Statements_of_Res
Consolidated Statements of Results of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues | $441.20 | $471.70 | $1,210.70 | $1,287.70 |
Cost of revenues: | ' | ' | ' | ' |
Fuel | 99.7 | 112.7 | 274 | 279 |
Purchased power | 113.1 | 90.7 | 282.6 | 265.8 |
Amortization of intangibles | 1.8 | 24.2 | 5.3 | 71.2 |
Total cost of revenues | 214.6 | 227.6 | 561.9 | 616 |
Gross margin | 226.6 | 244.1 | 648.8 | 671.7 |
Operating expenses: | ' | ' | ' | ' |
Operation and maintenance | 97.3 | 106.6 | 297.4 | 312.1 |
Depreciation and amortization | 33.9 | 33.1 | 99 | 95.6 |
General taxes | 19.4 | 15.7 | 60.8 | 58.7 |
Goodwill Impairment | ' | 1,850 | ' | 1,850 |
Total operating expenses | 150.6 | 2,005.40 | 457.2 | 2,316.40 |
Operating income | 76 | -1,761.30 | 191.6 | -1,644.70 |
Other income / (expense), net: | ' | ' | ' | ' |
Investment income | -0.5 | 1.9 | 1.2 | 2.2 |
Interest expense | -31 | -31.1 | -91.1 | -93.1 |
Other expense | ' | -0.2 | -4.9 | -1.4 |
Total other income / (expense), net | -31.5 | -29.4 | -94.8 | -92.3 |
Earnings before income tax | 44.5 | -1,790.70 | 96.8 | -1,737 |
Income tax expense | 11.3 | 20.2 | 20.8 | 40.3 |
Net income | 33.2 | -1,810.90 | 76 | -1,777.30 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ' | ' | ' | ' |
Revenues | 413.1 | 426.8 | 1,141.50 | 1,173 |
Cost of revenues: | ' | ' | ' | ' |
Fuel | 96.7 | 108.1 | 269.6 | 272.3 |
Purchased power | 110.4 | 79.9 | 276.7 | 234.1 |
Total cost of revenues | 207.1 | 188 | 546.3 | 506.4 |
Gross margin | 206 | 238.8 | 595.2 | 666.6 |
Operating expenses: | ' | ' | ' | ' |
Operation and maintenance | 87.6 | 103.6 | 270.4 | 298.8 |
Depreciation and amortization | 35.8 | 36.5 | 104.5 | 107.3 |
General taxes | 18.2 | 14.3 | 57.4 | 54.1 |
Fixed asset impairment | ' | 80.8 | ' | 80.8 |
Total operating expenses | 141.6 | 235.2 | 432.3 | 541 |
Operating income | 64.4 | 3.6 | 162.9 | 125.6 |
Other income / (expense), net: | ' | ' | ' | ' |
Investment income | 0.1 | 1.9 | 1.7 | 2.1 |
Interest expense | -10.4 | -10 | -29.7 | -29 |
Other expense | ' | -0.2 | -4.3 | -1 |
Total other income / (expense), net | -10.3 | -8.3 | -32.3 | -27.9 |
Earnings before income tax | 54.1 | -4.7 | 130.6 | 97.7 |
Income tax expense | 13.2 | 6.5 | 29.2 | 39.4 |
Net income | 40.9 | -11.2 | 101.4 | 58.3 |
Dividends on preferred stock | 0.2 | 0.2 | 0.6 | 0.6 |
Earnings on common stock | $40.70 | ($11.40) | $100.80 | $57.70 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income/(Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net income | $33.20 | ($1,810.90) | $76 | ($1,777.30) |
Available-for-sale securities activity: | ' | ' | ' | ' |
Change in fair value of available-for-sale securities | 0.2 | 0.2 | -1.3 | 0.5 |
Reclassification to earnings of available-for-sale securities, net of income tax expense/(benefit) | 0.4 | ' | 1.4 | ' |
Total change in fair value of available-for-sale securities | 0.6 | 0.2 | 0.1 | 0.5 |
Derivative activity: | ' | ' | ' | ' |
Change in derivative fair value | 6.2 | 0.3 | 18.7 | -5.5 |
Reclassification of earnings of Cash Flow Hedge | 1.3 | ' | 3 | -0.8 |
Total change in fair value of derivatives | 7.5 | 0.3 | 21.7 | -6.3 |
Pension and postretirement activity: | ' | ' | ' | ' |
Reclassification to earnings of Pension | ' | ' | 0.3 | -0.1 |
Total change in unfunded pension obligation | ' | ' | 0.3 | -0.1 |
Other comprehensive income / (loss) | 8.1 | 0.5 | 22.1 | -5.9 |
Net comprehensive income / (loss) | 41.3 | -1,810.40 | 98.1 | -1,783.20 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ' | ' | ' | ' |
Net income | 40.9 | -11.2 | 101.4 | 58.3 |
Available-for-sale securities activity: | ' | ' | ' | ' |
Change in fair value of available-for-sale securities | -0.2 | 0.2 | -1.8 | 0.5 |
Reclassification to earnings of available-for-sale securities, net of income tax expense/(benefit) | 0.4 | ' | 1.4 | ' |
Total change in fair value of available-for-sale securities | 0.2 | 0.2 | -0.4 | 0.5 |
Derivative activity: | ' | ' | ' | ' |
Change in derivative fair value | -0.3 | -2.5 | ' | -4 |
Reclassification of earnings of Cash Flow Hedge | 1 | -0.7 | 2.3 | -3.1 |
Total change in fair value of derivatives | 0.7 | -3.2 | 2.3 | -7.1 |
Pension and postretirement activity: | ' | ' | ' | ' |
Reclassification to earnings of Pension | 0.9 | 1 | 2.7 | 3 |
Total change in unfunded pension obligation | 0.9 | 1 | 2.7 | 3 |
Other comprehensive income / (loss) | 1.8 | -2 | 4.6 | -3.6 |
Net comprehensive income / (loss) | $42.70 | ($13.20) | $106 | $54.70 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income/(Loss) (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income tax (expense)/benefit on unrealized gains (losses) related to available-for-sale securities | ($0.10) | ($0.10) | $0.70 | ($0.30) |
Other Comprehensive Income (Loss), Reclassification Adjustment for Sale of Securities Included in Net Income, Tax | -0.2 | ' | -0.7 | ' |
Income tax (expense)/benefit on unrealized gains (losses) related to derivative activity | -3.3 | -0.3 | -10 | 3.4 |
Income tax (expense)/benefit on reclassification of earnings related to derivative activity | -0.8 | ' | -2.1 | 0.7 |
Income tax (expense)/benefit on reclassification of earnings related to pension and postretirement activity | ' | ' | 0.3 | ' |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ' | ' | ' | ' |
Income tax (expense)/benefit on unrealized gains (losses) related to available-for-sale securities | 0.1 | -0.1 | 0.9 | -0.3 |
Other Comprehensive Income (Loss), Reclassification Adjustment for Sale of Securities Included in Net Income, Tax | -0.2 | ' | -0.7 | ' |
Income tax (expense)/benefit on unrealized gains (losses) related to derivative activity | 0.1 | 1.3 | ' | 2.2 |
Income tax (expense)/benefit on reclassification of earnings related to derivative activity | -0.9 | 0.1 | -2.2 | 0.7 |
Income tax (expense)/benefit on reclassification of earnings related to pension and postretirement activity | ($0.50) | ($0.60) | ($1.50) | ($1.70) |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net income | $76 | ($1,777.30) |
Adjustments to reconcile Net income to Net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 99 | 95.6 |
Amortization of intangibles | 5.3 | 71.2 |
Amortization of debt market value adjustments | -14.3 | -14.2 |
Deferred income taxes | 31.5 | -10.5 |
Goodwill Impairment | ' | 1,850 |
Recognition of deferred SECA revenue | ' | -17.8 |
Changes in certain assets and liabilities: | ' | ' |
Accounts receivable | 30.8 | -10.2 |
Inventories | 18.6 | 29.5 |
Prepaid taxes | 0.7 | 0.6 |
Taxes applicable to subsequent years | 52.1 | 59.9 |
Deferred regulatory costs, net | 11.6 | 2.7 |
Accounts payable | -7.2 | -16.7 |
Accrued taxes payable | -69.3 | -49.4 |
Accrued interest payable | 24.3 | 25.2 |
Pension, retiree and other benefits | 7.1 | 24.4 |
Unamortized investment tax credit | -0.4 | -0.2 |
Insurance and claims costs | -2.4 | -1.3 |
Other | -14.3 | -7 |
Net cash provided by operating activities | 249.1 | 254.5 |
Cash flows from investing activities: | ' | ' |
Capital expenditures | -96.5 | -163.1 |
Proceeds from sale of property - other | 0.8 | ' |
Insurance proceeds | 7.6 | ' |
Increase (Decrease) in Restricted Cash | 3.4 | -0.4 |
Other | -1.6 | ' |
Net cash used for investing activities | -89.6 | -168.3 |
Cash flows from financing activities: | ' | ' |
Dividends paid on common stock | ' | -45 |
Payment to former warrant holders | ' | -9 |
Deferred Finance Costs | -11.6 | -0.3 |
Payment of long-term debt | -425.1 | -0.1 |
Issuance of long-term debt | 644.2 | ' |
Withdrawals from revolving credit facilities | 50 | ' |
Repayments of borrowings from revolving credit facilities | -50 | ' |
Contributions to additional paid-in capital from parent | ' | 0.3 |
Net cash used for financing activities | 207.5 | -54.1 |
Cash and cash equivalents: | ' | ' |
Net change | 367 | 32.1 |
Balance at beginning of period | 192.1 | 173.5 |
Cash and cash equivalents at end of period | 559.1 | 205.6 |
Supplemental cash flow information: | ' | ' |
Interest paid, net of amounts capitalized | 79.5 | 78.1 |
Income taxes paid/(refund), net | -20.2 | 43 |
Non-cash financing and investing activities: | ' | ' |
Accruals for capital expenditures | 5.4 | 12.5 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ' | ' |
Cash flows from operating activities: | ' | ' |
Net income | 101.4 | 58.3 |
Adjustments to reconcile Net income to Net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 104.5 | 107.3 |
Deferred income taxes | 27.1 | -3.4 |
Fixed asset impairment | ' | 80.8 |
Recognition of deferred SECA revenue | ' | -17.8 |
Changes in certain assets and liabilities: | ' | ' |
Accounts receivable | 30.7 | 13 |
Inventories | 18.5 | 28.1 |
Prepaid taxes | 0.8 | 0.8 |
Taxes applicable to subsequent years | 50 | 56.2 |
Deferred regulatory costs, net | 12.4 | 2.4 |
Accounts payable | -7.3 | -16.3 |
Accrued taxes payable | -48.2 | -35.2 |
Accrued interest payable | 2.7 | 7.4 |
Pension, retiree and other benefits | 7.1 | 24.4 |
Unamortized investment tax credit | -1.9 | -1.9 |
Other | -13.9 | 0.5 |
Net cash provided by operating activities | 283.9 | 304.6 |
Cash flows from investing activities: | ' | ' |
Capital expenditures | -95.1 | -161.7 |
Proceeds from sale of property - other | 0.8 | ' |
Insurance proceeds | 12.1 | ' |
Increase (Decrease) in Restricted Cash | 3.4 | -5.2 |
Other | -1.7 | ' |
Net cash used for investing activities | -83.8 | -171.7 |
Cash flows from financing activities: | ' | ' |
Dividends paid on common stock | -155 | -145 |
Dividends paid on preferred stock | -0.6 | -0.6 |
Deferred Finance Costs | -6.7 | ' |
Payment of long-term debt | -0.1 | -0.1 |
Issuance of long-term debt | 444.2 | ' |
Net cash used for financing activities | 281.8 | -145.7 |
Cash and cash equivalents: | ' | ' |
Net change | 481.9 | -12.8 |
Balance at beginning of period | 28.5 | 32.2 |
Cash and cash equivalents at end of period | 510.4 | 19.4 |
Supplemental cash flow information: | ' | ' |
Interest paid, net of amounts capitalized | 28.7 | 22.6 |
Income taxes paid/(refund), net | -20.3 | 30.3 |
Non-cash financing and investing activities: | ' | ' |
Accruals for capital expenditures | 5.4 | 12.5 |
Renewable Energy Certificates [Member] | ' | ' |
Cash flows from investing activities: | ' | ' |
Payments to Acquire Intangible Assets | -3.3 | -4.8 |
Renewable Energy Certificates [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ' | ' |
Cash flows from investing activities: | ' | ' |
Payments to Acquire Intangible Assets | ($3.30) | ($4.80) |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $559.10 | $192.10 |
Restricted Cash | 7.3 | 10.7 |
Accounts receivable, net (Note 2) | 180.2 | 208.2 |
Inventories (Note 2) | 91.6 | 110.1 |
Taxes applicable to subsequent years | 17.2 | 69.3 |
Regulatory assets, current (Note 3) | 12.2 | 21.1 |
Other prepayments and current assets | 45 | 43.1 |
Total current assets | 912.6 | 654.6 |
Property, plant and equipment: | ' | ' |
Property, plant and equipment | 2,684.20 | 2,590.40 |
Less: Accumulated depreciation and amortization | -182.2 | -115.9 |
Property, plant and equipment, net of depreciation | 2,502 | 2,474.50 |
Construction work in process | 52.9 | 89.3 |
Total net property, plant and equipment | 2,554.90 | 2,563.80 |
Other noncurrent assets: | ' | ' |
Regulatory assets, non-current (Note 3) | 172.4 | 185.5 |
Goodwill | 759.1 | 759.1 |
Intangible assets, Net of amortization | 44.1 | 50.1 |
Other deferred assets | 63 | 34.2 |
Total other noncurrent assets | 1,038.60 | 1,028.90 |
Total Assets | 4,506.10 | 4,247.30 |
Current liabilities: | ' | ' |
Current portion - long-term debt (Note 5) | 480.4 | 584.9 |
Accounts payable | 67.9 | 83.2 |
Accrued taxes | 95.8 | 97.1 |
Accrued interest | 56.3 | 31.8 |
Customer security deposits | 14.2 | 15 |
Regulatory liabilities, current (Note 3) | ' | 0.1 |
Insurance and claims costs | 9.1 | 11.5 |
Other current liabilities | 56.2 | 96.9 |
Total current liabilities | 779.9 | 920.5 |
Noncurrent liabilities: | ' | ' |
Long-term debt (Note 5) | 2,334.10 | 2,025 |
Deferred taxes (Note 6) | 576 | 534.9 |
Taxes Payable | 8.9 | 68.1 |
Regulatory liabilities, non-current (Note 3) | 118 | 117.3 |
Pension, retiree and other benefits | 63.9 | 61.6 |
Unamortized investment tax credit | 2.9 | 3.3 |
Other deferred credits | 73 | 71.4 |
Total noncurrent liabilities | 3,176.80 | 2,881.60 |
Redeemable preferred stock | 18.4 | 18.4 |
Common shareholders' equity: | ' | ' |
Other paid-in capital | 2,236.90 | 2,236.70 |
Accumulated other comprehensive loss | 18.2 | -3.9 |
Retained deficit | -1,724.10 | -1,806 |
Total common shareholders' equity | 531 | 426.8 |
Total Liabilities and Shareholders' Equity | 4,506.10 | 4,247.30 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ' | ' |
Current assets: | ' | ' |
Cash and cash equivalents | 510.4 | 28.5 |
Restricted Cash | 7.3 | 10.7 |
Accounts receivable, net (Note 2) | 132.2 | 160 |
Inventories (Note 2) | 90.4 | 108.9 |
Taxes applicable to subsequent years | 16.7 | 66.7 |
Regulatory assets, current (Note 3) | 10.8 | 18.3 |
Other prepayments and current assets | 37.4 | 33 |
Total current assets | 805.2 | 426.1 |
Property, plant and equipment: | ' | ' |
Property, plant and equipment | 5,314.60 | 5,249 |
Less: Accumulated depreciation and amortization | -2,563.20 | -2,516.30 |
Property, plant and equipment, net of depreciation | 2,751.40 | 2,732.70 |
Construction work in process | 50.7 | 87.8 |
Total net property, plant and equipment | 2,802.10 | 2,820.50 |
Other noncurrent assets: | ' | ' |
Regulatory assets, non-current (Note 3) | 172.4 | 185.5 |
Intangible assets, Net of amortization | 8.8 | 9 |
Other deferred assets | 49 | 23.1 |
Total other noncurrent assets | 230.2 | 217.6 |
Total Assets | 3,837.50 | 3,464.20 |
Current liabilities: | ' | ' |
Current portion - long-term debt (Note 5) | 470.3 | 570.4 |
Accounts payable | 63.6 | 79.1 |
Accrued taxes | 110 | 92.2 |
Accrued interest | 15.9 | 13.1 |
Customer security deposits | 33.3 | 35.2 |
Regulatory liabilities, current (Note 3) | ' | 0.1 |
Other current liabilities | 50.8 | 52.1 |
Total current liabilities | 743.9 | 842.2 |
Noncurrent liabilities: | ' | ' |
Long-term debt (Note 5) | 876.9 | 332.7 |
Deferred taxes (Note 6) | 680.4 | 652 |
Taxes Payable | 8.5 | 66 |
Regulatory liabilities, non-current (Note 3) | 118 | 117.3 |
Pension, retiree and other benefits | 63.9 | 61.6 |
Unamortized investment tax credit | 25.5 | 27.4 |
Other deferred credits | 47.9 | 43 |
Total noncurrent liabilities | 1,821.10 | 1,300 |
Redeemable preferred stock | 22.9 | 22.9 |
Common shareholders' equity: | ' | ' |
Common stock, at par value of $0.01 per share: | 0.4 | 0.4 |
Other paid-in capital | 803.4 | 803.2 |
Accumulated other comprehensive loss | -34.1 | -38.7 |
Retained deficit | 479.9 | 534.2 |
Total common shareholders' equity | 1,249.60 | 1,299.10 |
Total Liabilities and Shareholders' Equity | $3,837.50 | $3,464.20 |
Overview_and_Summary_of_Signif
Overview and Summary of Significant Accounting Policies | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Overview and Summary of Significant Accounting Policies | ' | ||||||||||||
DPL Inc. | |||||||||||||
Notes to Condensed Consolidated Financial Statements (Unaudited) | |||||||||||||
1. Overview and Summary of Significant Accounting Policies | |||||||||||||
Description of Business | |||||||||||||
DPL is a diversified regional energy company organized in 1985 under the laws of Ohio. DPL’s two reportable segments are the Utility segment, comprised of its DP&L subsidiary, and the Competitive Retail segment, comprised of its DPLER operations, which include the operations of DPLER’s wholly owned subsidiary MC Squared. Refer to Note 11 for more information relating to these reportable segments. | |||||||||||||
DP&L is a public utility incorporated in 1911 under the laws of Ohio. DP&L is engaged in the generation, transmission, distribution and sale of electricity to residential, commercial, industrial and governmental customers in a 6,000 square mile area of West Central Ohio. Electricity for DP&L's SSO customers is primarily generated at eight coal-fired power plants and DP&L distributes electricity to more than 513,000 retail customers. Principal industries located in DP&L’s service area include food processing, paper, plastic manufacturing and defense. | |||||||||||||
DP&L's retail generation sales reflect the general economic conditions, seasonal weather patterns of the area and retail competition in the area. DP&L sells any excess energy and capacity into the wholesale market. | |||||||||||||
DPLER sells competitive retail electric service, under contract, to residential, commercial, industrial and governmental customers. DPLER’s operations include those of its wholly owned subsidiary, MC Squared, which was acquired on February 28, 2011. DPLER has approximately 281,000 customers currently located throughout Ohio and Illinois. DPLER does not own any transmission or generation assets, and all of DPLER’s electric energy was purchased from DP&L or PJM to meet its sales obligations. DPLER’s sales reflect the general economic conditions and seasonal weather patterns of the areas it serves. | |||||||||||||
DPL’s other significant subsidiaries include DPLE, which owns and operates peaking generating facilities from which it makes wholesale sales of electricity and MVIC, our captive insurance company that provides insurance services to us and our subsidiaries. All of DPL’s subsidiaries are wholly owned. | |||||||||||||
DPL also has a wholly owned business trust, DPL Capital Trust II, formed for the purpose of issuing trust capital securities to investors. | |||||||||||||
DP&L’s electric transmission and distribution businesses are subject to rate regulation by federal and state regulators while its generation business is deemed competitive under Ohio law. Accordingly, DP&L applies the accounting standards for regulated operations to its electric transmission and distribution businesses and records regulatory assets when incurred costs are expected to be recovered in future customer rates, and regulatory liabilities when current cost recoveries in customer rates relate to expected future costs. | |||||||||||||
DPL and its subsidiaries employed 1,436 people as of September 30, 2013, of which 1,376 were employed by DP&L. Approximately 53% of all DPL employees are under a collective bargaining agreement which expires on October 31, 2014. | |||||||||||||
Financial Statement Presentation | |||||||||||||
DPL’s Condensed Consolidated Financial Statements include the accounts of DPL and its wholly owned subsidiaries except for DPL Capital Trust II which is not consolidated, consistent with the provisions of GAAP. DP&L’s undivided ownership interests in certain coal-fired generating facilities and numerous transmission facilities are included in the financial statements at amortized cost, which was adjusted to fair value at the Merger date for DPL. Operating revenues and expenses of these facilities are included on a pro rata basis in the corresponding lines in the Condensed Consolidated Statements of Results of Operations. See Note 4 for more information. Certain amounts in the 2012 financial statements have been reclassified to conform to the 2013 presentation. | |||||||||||||
All material intercompany accounts and transactions are eliminated in consolidation. | |||||||||||||
These financial statements have been prepared in accordance with GAAP for interim financial statements, the instructions of Form 10-Q and Regulation S-X. Accordingly, certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with GAAP have been omitted from this interim report. Therefore, our interim financial statements in this report should be read along with the annual financial statements included in our Form 10-K for the fiscal year ended December 31, 2012. | |||||||||||||
In the opinion of our management, the Condensed Consolidated Financial Statements presented in this report contain all adjustments necessary to fairly state our financial position as of September 30, 2013; our results of operations for the three and nine months ended September 30, 2013 and 2012 and our cash flows for the nine months ended September 30, 2013 and 2012. Unless otherwise noted, all adjustments are normal and recurring in nature. Due to various factors, including but not limited to, seasonal weather variations, the timing of outages of EGUs, changes in economic conditions involving commodity prices and competition, and other factors, interim results for the three and nine months ended September 30, 2013 may not be indicative of our results that will be realized for the full year ending December 31, 2013. | |||||||||||||
The preparation of financial statements in conformity with GAAP requires us to make estimates and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the revenues and expenses of the periods reported. Actual results could differ from these estimates. Significant items subject to such estimates and judgments include: the carrying value of property, plant and equipment; unbilled revenues; the valuation of derivative instruments; the valuation of insurance and claims liabilities; the valuation of allowances for receivables and deferred income taxes; regulatory assets and liabilities; liabilities recorded for income tax exposures; litigation; contingencies; the valuation of AROs; assets and liabilities related to employee benefits; goodwill; and intangibles. | |||||||||||||
Goodwill Impairment | |||||||||||||
In connection with the Merger, DPL remeasured the carrying amount of all of its assets and liabilities to fair value, which resulted in the recognition of goodwill assigned to DPL’s two reporting units, DPLER and the DP&L Reporting Unit, which includes DP&L and other entities. FASC 350 “Intangibles – Goodwill and Other” requires that goodwill be tested for impairment at the reporting unit level at least annually or more frequently if impairment indicators are present. DPL’s annual testing date for goodwill is October 1 of each year. In evaluating the potential impairment of goodwill, we make estimates and assumptions about revenue, operating cash flows, capital expenditures, growth rates and discount rates based on our budgets and long term forecasts, macroeconomic projections, and current market expectations of returns on similar assets. There are inherent uncertainties related to these factors and management’s judgment in applying these factors. Generally, the fair value of a reporting unit is determined using a discounted cash flow valuation model. We could be required to evaluate the potential impairment of goodwill outside of the required annual assessment process if we experience situations, including but not limited to: deterioration in general economic conditions; changes to our operating or regulatory environment; increased competitive environment; increase in fuel costs, particularly when we are unable to pass its effect to customers; negative or declining cash flows; loss of a key contract or customer, particularly when we are unable to replace it on equally favorable terms; or adverse actions or assessments by a regulator. These types of events and the resulting analyses could result in goodwill impairment expense, which could substantially affect our results of operations for those periods. | |||||||||||||
Sale of Receivables | |||||||||||||
In the first quarter of 2012, DPLER began selling receivables from DPLER customers in Duke Energy’s territory to Duke Energy. These sales are at face value for cash at the amounts billed for DPLER customers’ use of energy. Total receivables sold to Duke Energy during the three months ended September 30, 2013 and 2012 were $6.1 million and $6.1 million, respectively. Total receivables sold to Duke Energy during the nine months ended September 30, 2013 and 2012 were $15.6 million and $11.3 million, respectively. Similarly, MC Squared sells receivables from their customers in ComEd territory to ComEd. Total receivables sold to ComEd during the three months ended September 30, 2013 and 2012 were $22.6 million and $0.4 million, respectively. Total receivables sold to ComEd during the nine months ended September 30, 2013 and 2012 were $57.8 million and $0.4 million, respectively. There is no recourse or any other continuing involvement associated with the sold receivables. | |||||||||||||
Property, Plant & Equipment | |||||||||||||
We record our ownership share of our undivided interest in jointly-held plants as an asset in property, plant and equipment. Property, plant and equipment are stated at cost except for adjustments of generating plants to fair market value recorded in connection with the Merger and the adjustment of certain intangible assets to fair market value in connection with the 2011 acquisition of MC Squared by DPLER. For regulated transmission and distribution property, cost includes direct labor and material, allocable overhead expenses and an allowance for funds used during construction (AFUDC). AFUDC represents the cost of borrowed funds and equity used to finance regulated construction projects. For non-regulated property including unregulated generation property, cost is similarly defined except financing costs are reflected as capitalized interest without an equity component. | |||||||||||||
Capitalization of AFUDC and interest ceases at either project completion or at the date specified by regulators. The total of AFUDC and capitalized interest was $0.4 million and $0.9 million for the three months ended September 30, 2013 and 2012, respectively. The total AFUDC and capitalized interest was $1.2 million and $3.4 million during the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||
For substantially all depreciable property, when a unit of property is retired, the original cost of that property less any salvage value is charged to Accumulated depreciation and amortization. | |||||||||||||
Property is evaluated for impairment when events or changes in circumstances indicate that its carrying amount may not be recoverable. | |||||||||||||
Intangibles | |||||||||||||
Intangibles include emission allowances, renewable energy credits, customer relationships, customer contracts and the value of our ESP. Emission allowances are carried on a first-in, first-out (FIFO) basis for purchased emission allowances. In addition, we recorded emission allowances at their fair value as of the Merger date. Net gains or losses on the sale of excess emission allowances, representing the difference between the sales proceeds and the carrying value of emission allowances, are recorded as a component of our fuel costs and are reflected in Operating income when realized. During the three and nine months ended September 30, 2013 and 2012, DPL gains from the sale of emission allowances were immaterial. | |||||||||||||
Customer relationships recognized as part of the purchase accounting associated with the Merger are amortized over ten to seventeen years and customer contracts are amortized over the average length of the contracts. The value of the ESP was amortized over one year on a straight-line basis. Emission allowances are amortized as they are used in our operations on a FIFO basis. Renewable energy credits are amortized as they are used or retired. | |||||||||||||
Accounting for Taxes Collected from Customers and Remitted to Governmental Authorities | |||||||||||||
DPL collects certain excise taxes levied by state or local governments from its customers. These taxes are accounted for on a net basis and recorded as a reduction in revenues. The amounts for the three months ended September 30, 2013 and 2012 were $13.0 million and $13.8 million, respectively. The amounts for the nine months ended September 30, 2013 and 2012 were $38.0 million and $38.5 million, respectively. | |||||||||||||
Recently Adopted Accounting Standards | |||||||||||||
Offsetting Assets and Liabilities | |||||||||||||
In December 2011, the FASB issued ASU 2011-11 “Disclosures about Offsetting Assets and Liabilities” (ASU 2011-11) effective for interim and annual reporting periods beginning on or after January 1, 2013. We adopted this ASU on January 1, 2013. This standard was clarified by ASU 2013-01 “Scope Clarification of Disclosures about Offsetting Assets and Liabilities”, which also was effective on January 1, 2013. This standard updates FASC Topic 210 “Balance Sheet.” ASU 2011-11 updates the disclosures for financial instruments and derivatives to provide more transparent information around the offsetting of assets and liabilities. Entities are required to disclose both gross and net information about both instruments and transactions eligible for offset in the statement of financial position and/or subject to an agreement similar to a master netting agreement. In ASU 2013-01, the FASB clarified that the disclosures were not intended to include trade receivables and other contracts for financial instruments that may be subject to a master netting arrangement. We adopted this rule which resulted in enhanced disclosures, but did not have an effect on our overall results of operations, financial position or cash flows. | |||||||||||||
Testing Indefinite-Lived Intangible Assets for Impairments | |||||||||||||
In July 2012, the FASB issued ASU 2012-02 “Testing Indefinite-Lived Intangible Assets for Impairment” (ASU 2012-02) effective for interim and annual impairment tests performed for fiscal years beginning after September 15, 2012. We adopted this ASU on January 1, 2013. This standard updates FASC Topic 350 “Intangibles-Goodwill and Other.” ASU 2012-02 permits an entity first to assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative impairment test in accordance with FASC Subtopic 350-30. As this rule only affected disclosures, it did not have an effect on our overall results of operations, financial position or cash flows. | |||||||||||||
Comprehensive Income | |||||||||||||
The FASB recently issued ASU 2013-02 “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income” effective for annual and interim periods beginning after December 15, 2012. This ASU does not change the current requirements for reporting net income or OCI in financial statements. However, this ASU requires an entity to provide information about the amounts reclassified out of AOCI by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the Notes, significant amounts reclassified out of AOCI by the respective line items of net income, but only if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under GAAP that provide additional detail about those amounts. We adopted this rule which resulted in enhanced disclosures, but it did not have an effect on our overall results of operations, financial position or cash flows. | |||||||||||||
DP&L [Member] | ' | ||||||||||||
Overview and Summary of Significant Accounting Policies | ' | ||||||||||||
The Dayton Power and Light Company | |||||||||||||
Notes to Condensed Financial Statements (Unaudited) | |||||||||||||
1. Overview and Summary of Significant Accounting Policies | |||||||||||||
Description of Business | |||||||||||||
DP&L is a public utility incorporated in 1911 under the laws of Ohio. DP&L is engaged in the generation, transmission, distribution and sale of electricity to residential, commercial, industrial and governmental customers in a 6,000 square mile area of West Central Ohio. Electricity for DP&L's SSO customers is primarily generated at eight coal-fired power plants and DP&L distributes electricity to more than 513,000 retail customers. Principal industries located in DP&L’s service area include food processing, paper, plastic manufacturing and defense. DP&L is a wholly owned subsidiary of DPL. | |||||||||||||
DP&L's retail generation sales reflect the general economic conditions, seasonal weather patterns of the area and retail competition in the area. DP&L sells any excess energy and capacity into the wholesale market. | |||||||||||||
DP&L’s electric transmission and distribution businesses are subject to rate regulation by federal and state regulators while its generation business is deemed competitive under Ohio law. Accordingly, DP&L applies the accounting standards for regulated operations to its electric transmission and distribution businesses and records regulatory assets when incurred costs are expected to be recovered in future customer rates, and regulatory liabilities when current cost recoveries in customer rates relate to expected future costs. | |||||||||||||
DP&L employed 1,376 people as of September 30, 2013. Approximately 55% of all employees are under a collective bargaining agreement which expires on October 31, 2014. | |||||||||||||
Financial Statement Presentation | |||||||||||||
DP&L does not have any subsidiaries. DP&L has undivided ownership interests in seven electric generating facilities and numerous transmission facilities which are included in the financial statements at amortized cost. Operating revenues and expenses of these facilities are included on a pro rata basis in the corresponding lines in the Condensed Statements of Results of Operations. See Note 4 for more information. Certain amounts in the 2012 financial statements have been reclassified to conform to the 2013 presentation. | |||||||||||||
These financial statements have been prepared in accordance with GAAP for interim financial statements, the instructions of Form 10-Q and Regulation S-X. Accordingly, certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with GAAP have been omitted from this interim report. Therefore, our interim financial statements in this report should be read along with the annual financial statements included in our Form 10-K for the fiscal year ended December 31, 2012. | |||||||||||||
In the opinion of our management, the Condensed Financial Statements presented in this report contain all adjustments necessary to fairly state our financial position as of September 30, 2013; our results of operations for the three and nine months ended September 30, 2013 and 2012 and our cash flows for the nine months ended September 30, 2013 and 2012. Unless otherwise noted, all adjustments are normal and recurring in nature. Due to various factors, including but not limited to, seasonal weather variations, the timing of outages of EGUs, changes in economic conditions involving commodity prices and competition, and other factors, interim results for the three and nine months ended September 30, 2013 may not be indicative of our results that will be realized for the full year ending December 31, 2013. | |||||||||||||
The preparation of financial statements in conformity with GAAP requires us to make estimates and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the revenues and expenses of the periods reported. Actual results could differ from these estimates. Significant items subject to such estimates and judgments include: the carrying value of property, plant and equipment; unbilled revenues; the valuation of derivative instruments; the valuation of insurance and claims liabilities; the valuation of allowances for receivables and deferred income taxes; regulatory assets and liabilities; liabilities recorded for income tax exposures; litigation; contingencies; the valuation of AROs; and assets and liabilities related to employee benefits. | |||||||||||||
Property, Plant & Equipment | |||||||||||||
We record our ownership share of our undivided interest in jointly-held plants as an asset in property, plant and equipment. Property, plant and equipment are stated at cost except for the impact of asset impairments recorded for certain generating plants. For regulated transmission and distribution property, cost includes direct labor and material, allocable overhead expenses and an allowance for funds used during construction (AFUDC). AFUDC represents the cost of borrowed funds and equity used to finance regulated construction projects. For non-regulated property including unregulated generation property, cost is similarly defined except financing costs are reflected as capitalized interest without an equity component. | |||||||||||||
Capitalization of AFUDC and interest ceases at either project completion or at the date specified by regulators. The total of AFUDC and capitalized interest was $0.4 million and $0.9 million for the three months ended September 30, 2013 and 2012, respectively. The total of AFUDC and capitalized interest was $1.2 million and $3.4 million for the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||
For substantially all depreciable property, when a unit of property is retired, the original cost of that property less any salvage value is charged to Accumulated depreciation and amortization. | |||||||||||||
Property is evaluated for impairment when events or changes in circumstances indicate that its carrying amount may not be recoverable. | |||||||||||||
Intangibles | |||||||||||||
Intangibles consist of emission allowances and renewable energy credits. Emission allowances are carried on a first-in, first-out (FIFO) basis for purchased emission allowances. Net gains or losses on the sale of excess emission allowances, representing the difference between the sales proceeds and the carrying value of emission allowances, are recorded as a component of our fuel costs and are reflected in Operating income when realized. Emission allowances are amortized as they are used in our operations. Renewable energy credits are amortized as they are used or retired. During the three and nine months ended September 30, 2013 and 2012, DP&L gains from the sale of emission allowances were immaterial. | |||||||||||||
Accounting for Taxes Collected from Customers and Remitted to Governmental Authorities | |||||||||||||
DP&L collects certain excise taxes levied by state or local governments from its customers. These taxes are accounted for on a net basis and are recorded as a reduction in revenues. The amounts for the three months ended September 30, 2013 and 2012 were $13.0 million and $13.8 million, respectively. The amounts for the nine months ended September 30, 2013 and 2012 were $38.0 million and $38.5 million, respectively. | |||||||||||||
Related Party Transactions | |||||||||||||
In the normal course of business, DP&L enters into transactions with other subsidiaries of DPL. The following table provides a summary of these transactions: | |||||||||||||
Three months ended | Nine months ended | ||||||||||||
September 30, | September 30, | ||||||||||||
$ in millions | 2013 | 2012 | 2013 | 2012 | |||||||||
DP&L Revenues: | |||||||||||||
Sales to DPLER (a) | $ | 93.9 | $ | 93.3 | $ | 254.0 | $ | 263.7 | |||||
Sales to MC Squared (b) | $ | 30.0 | $ | 19.8 | $ | 82.4 | $ | 20.1 | |||||
DP&L Operations and Maintenance Expenses: | |||||||||||||
Premiums paid for insurance services provided by MVIC (c) | $ | -0.7 | $ | -0.7 | $ | -2.2 | $ | -1.9 | |||||
Expense recoveries for services provided to DPLER (d) | $ | 1.3 | $ | 1.2 | $ | 3.8 | $ | 2.7 | |||||
September 30, | |||||||||||||
DP&L Customer security deposits: | 2013 | 2012 | |||||||||||
Deposits received from DPLER (e) | $ | 19.2 | $ | - | |||||||||
(a) DP&L sells power to DPLER to satisfy the electric requirements of DPLER’s retail customers. The revenue dollars associated with sales to DPLER are recorded as wholesale revenues in DP&L’s Financial Statements. The change in DP&L’s sales to DPLER during the three months ended September 30, 2013, compared to the three months ended September 30, 2012, is not material. The decrease in DP&L’s sales to DPLER during the nine months ended September 30, 2013, compared to the nine months ended September 30, 2012, is a result of the transfer price for the current customer base being lower than the previous year’s transfer price. | |||||||||||||
(b) DP&L also sells power to MC Squared to satisfy the electric requirements of MC Squared’s retail customers. The revenue dollars associated with sales to MC Squared are recorded as wholesale revenues in DP&L’s Financial Statements. The increase in DP&L’s sales to MC Squared during the three months ended September 30, 2013, compared to the three months ended September 30, 2012, is primarily due to the significant increase of customers and the sale to MC Squared by DP&L beginning in June 2012 and phasing in to all customers by the end of September 2012. The increase in DP&L’s sales to MC Squared during the nine months ended September 30, 2013, compared to the nine months ended September 30, 2012, is a result of the majority of these sales beginning in September 2012. | |||||||||||||
(c) MVIC, a wholly owned captive insurance subsidiary of DPL, provides insurance coverage to DP&L and other DPL subsidiaries for workers’ compensation, general liability, property damages and directors’ and officers’ liability. These amounts represent insurance premiums paid by DP&L to MVIC. | |||||||||||||
(d) In the normal course of business DP&L incurs and records expenses on behalf of DPLER. Such expenses include, but are not limited to, employee-related expenses, accounting, information technology, payroll, legal and other administrative expenses. DP&L subsequently charges these expenses to DPLER at DP&L’s cost and credits the expense in which they were initially recorded. | |||||||||||||
(e) DP&L requires credit assurance from the CRES providers serving customers in its service territory because DP&L is the default energy provider should the CRES provider fail to fulfill its obligations to provide electricity. Due to DPL’s credit downgrade, DP&L required cash collateral from DPLER. | |||||||||||||
Recently Adopted Accounting Standards | |||||||||||||
Offsetting Assets and Liabilities | |||||||||||||
In December 2011, the FASB issued ASU 2011-11 “Disclosures about Offsetting Assets and Liabilities” (ASU 2011-11) effective for interim and annual reporting periods beginning on or after January 1, 2013. We adopted this ASU on January 1, 2013. This standard was clarified by ASU 2013-01 “Scope Clarification of Disclosures about Offsetting Assets and Liabilities”, which also was effective on January 1, 2013. This standard updates FASC Topic 210 “Balance Sheet.” ASU 2011-11 updates the disclosures for financial instruments and derivatives to provide more transparent information around the offsetting of assets and liabilities. Entities are required to disclose both gross and net information about both instruments and transactions eligible for offset in the statement of financial position and/or subject to an agreement similar to a master netting agreement. In ASU 2013-01, the FASB clarified that the disclosures were not intended to include trade receivables and other contracts for financial instruments that may be subject to a master netting arrangement. We adopted this rule which resulted in enhanced disclosures, but did not have an effect on our overall results of operations, financial position or cash flows. | |||||||||||||
Testing Indefinite-Lived Intangible Assets for Impairments | |||||||||||||
In July 2012, the FASB issued ASU 2012-02 “Testing Indefinite-Lived Intangible Assets for Impairment” (ASU 2012-02) effective for interim and annual impairment tests performed for fiscal years beginning after September 15, 2012. We adopted this ASU on January 1, 2013. This standard updates FASC Topic 350 “Intangibles-Goodwill and Other.” ASU 2012-02 permits an entity first to assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative impairment test in accordance with FASC Subtopic 350-30. As this rule only affected disclosures, it did not have an effect on our overall results of operations, financial position or cash flows. | |||||||||||||
Comprehensive Income | |||||||||||||
The FASB recently issued ASU 2013-02 “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income” effective for annual and interim periods beginning after December 15, 2012. This ASU does not change the current requirements for reporting net income or OCI in financial statements. However, this ASU requires an entity to provide information about the amounts reclassified out of AOCI by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the Notes, significant amounts reclassified out of AOCI by the respective line items of net income but only if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under GAAP that provide additional detail about those amounts. We adopted this rule which resulted in enhanced disclosures, but it did not have an effect on our overall results of operations, financial position or cash flows. | |||||||||||||
Supplemental_Financial_Informa
Supplemental Financial Information | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Supplemental Financial Information | ' | ||||||||||||||
2. Supplemental Financial Information | |||||||||||||||
Accounts receivable and Inventories are as follows at September 30, 2013 and December 31, 2012: | |||||||||||||||
September 30, | December 31, | ||||||||||||||
$ in millions | 2013 | 2012 | |||||||||||||
Accounts receivable, net: | |||||||||||||||
Unbilled revenue | $ | 58.3 | $ | 75.2 | |||||||||||
Customer receivables | 107.8 | 98.2 | |||||||||||||
Amounts due from partners in jointly owned plants | 10.2 | 19.7 | |||||||||||||
Coal sales | - | 1.6 | |||||||||||||
Other | 5.1 | 14.6 | |||||||||||||
Provision for uncollectible accounts | -1.2 | -1.1 | |||||||||||||
Total accounts receivable, net | $ | 180.2 | $ | 208.2 | |||||||||||
Inventories, at average cost: | |||||||||||||||
Fuel and limestone | $ | 51.3 | $ | 67.3 | |||||||||||
Plant materials and supplies | 38.3 | 41.0 | |||||||||||||
Other | 2.0 | 1.8 | |||||||||||||
Total inventories, at average cost | $ | 91.6 | $ | 110.1 | |||||||||||
Accumulated Other Comprehensive Income / (Loss) | |||||||||||||||
The amounts reclassified out of Accumulated Other Comprehensive Income / (Loss) by component during the three and nine months ended September 30, 2013 and 2012 are as follows: | |||||||||||||||
Details about Accumulated Other Comprehensive Income / (Loss) components | Affected line item in the Condensed Statements of Operations | Three months ended September 30, | Nine months ended September 30, | ||||||||||||
$ in millions | 2013 | 2012 | 2013 | 2012 | |||||||||||
Gains and losses on Available-for-sale securities activity (Note 8): | |||||||||||||||
Other income / (deductions) | $ | 0.6 | $ | - | $ | 2.1 | $ | - | |||||||
Total before income taxes | 0.6 | - | 2.1 | - | |||||||||||
Tax expense | -0.2 | - | -0.7 | - | |||||||||||
Net of income taxes | 0.4 | - | 1.4 | - | |||||||||||
Gains and losses on cash flow hedges (Note 9): | |||||||||||||||
Interest Expense | - | - | - | 0.2 | |||||||||||
Revenue | 0.5 | 0.1 | 2.2 | -1.7 | |||||||||||
Purchased power | 1.6 | -0.1 | 2.9 | -0.1 | |||||||||||
Total before income taxes | 2.1 | - | 5.1 | -1.6 | |||||||||||
Tax expense | -0.8 | - | -2.1 | 0.8 | |||||||||||
Net of income taxes | 1.3 | - | 3.0 | -0.8 | |||||||||||
Amortization of defined benefit pension items (Note 7): | |||||||||||||||
Reclassification to Other income / (deductions) | - | - | - | -0.1 | |||||||||||
Tax benefit | - | - | 0.3 | - | |||||||||||
Net of income taxes | - | - | 0.3 | - | |||||||||||
Total reclassifications for the period, net of income taxes | $ | 1.7 | $ | - | $ | 4.7 | $ | -0.8 | |||||||
(a) These Accumulated Other Comprehensive Income / (Loss) components are included in the computation of net periodic pension costs (see Note 7 for additional information). | |||||||||||||||
The changes in the components of Accumulated Other Comprehensive Income / (Loss) during the nine months ended September 30, 2013 are as follows: | |||||||||||||||
$ in millions | Gains / (losses) on available-for-sale securities | Gains / (losses) on cash flow hedges | Change in unfunded pension obligation | Total | |||||||||||
Balance January 1, 2013 | $ | 0.4 | $ | -2.5 | $ | -1.8 | $ | -3.9 | |||||||
Other comprehensive income / (loss) before reclassifications | -1.3 | 18.7 | - | 17.4 | |||||||||||
Amounts reclassified from accumulated other comprehensive income / (loss) | 1.4 | 3.0 | 0.3 | 4.7 | |||||||||||
Net current period other comprehensive income | 0.1 | 21.7 | 0.3 | 22.1 | |||||||||||
Balance September 30, 2013 | $ | 0.5 | $ | 19.2 | $ | -1.5 | $ | 18.2 | |||||||
DP&L [Member] | ' | ||||||||||||||
Supplemental Financial Information | ' | ||||||||||||||
2. Supplemental Financial Information | |||||||||||||||
Accounts receivable and Inventories are as follows at September 30, 2013 and December 31, 2012: | |||||||||||||||
September 30, | December 31, | ||||||||||||||
$ in millions | 2013 | 2012 | |||||||||||||
Accounts receivable, net: | |||||||||||||||
Unbilled revenue | $ | 33.2 | $ | 48.1 | |||||||||||
Customer receivables | 62.1 | 62.0 | |||||||||||||
Amounts due from partners in jointly owned plants | 10.2 | 19.7 | |||||||||||||
Coal sales | - | 1.6 | |||||||||||||
Other | 27.7 | 29.5 | |||||||||||||
Provision for uncollectible accounts | -1 | -0.9 | |||||||||||||
Total accounts receivable, net | $ | 132.2 | $ | 160.0 | |||||||||||
Inventories, at average cost: | |||||||||||||||
Fuel and limestone | $ | 51.3 | $ | 67.3 | |||||||||||
Plant materials and supplies | 37.1 | 39.8 | |||||||||||||
Other | 2.0 | 1.8 | |||||||||||||
Total inventories, at average cost | $ | 90.4 | $ | 108.9 | |||||||||||
Accumulated Other Comprehensive Income / (Loss) | |||||||||||||||
The amounts reclassified out of Accumulated Other Comprehensive Income / (Loss) by component during the three and nine months ended September 30, 2013 are as follows: | |||||||||||||||
Details about Accumulated Other Comprehensive Income / (Loss) components | Affected line item in the Condensed Statements of Operations | Three months ended September 30, | Nine months ended September 30, | ||||||||||||
$ in millions | 2013 | 2012 | 2013 | 2012 | |||||||||||
Gains and losses on Available-for-sale securities activity | |||||||||||||||
(Note 8): | |||||||||||||||
Other income / (deductions) | $ | 0.6 | $ | - | $ | 2.1 | $ | - | |||||||
Total before income taxes | 0.6 | - | 2.1 | - | |||||||||||
Tax expense | -0.2 | - | -0.7 | - | |||||||||||
Net of income taxes | 0.4 | - | 1.4 | - | |||||||||||
Gains and losses on cash flow hedges (Note 9): | |||||||||||||||
Interest expense | -0.6 | -0.6 | -1.8 | -1.8 | |||||||||||
Revenue | 0.4 | -0.2 | 2.1 | -2.2 | |||||||||||
Purchased power | 2.0 | - | 4.2 | 0.2 | |||||||||||
Total before income taxes | 1.8 | -0.8 | 4.5 | -3.8 | |||||||||||
Tax expense | -0.8 | 0.1 | -2.2 | 0.7 | |||||||||||
Net of income taxes | 1.0 | -0.7 | 2.3 | -3.1 | |||||||||||
Amortization of defined benefit pension items (Note 7): | |||||||||||||||
Reclassification to Other income / (deductions) | 1.4 | 1.6 | 4.2 | 4.6 | |||||||||||
Tax benefit | -0.5 | -0.6 | -1.5 | -1.6 | |||||||||||
Net of income taxes | 0.9 | 1.0 | 2.7 | 3.0 | |||||||||||
Total reclassifications for the period, net of income taxes | $ | 2.3 | $ | 0.3 | $ | 6.4 | $ | -0.1 | |||||||
The changes in the components of Accumulated Other Comprehensive Income / (Loss) during the nine months ended September 30, 2013 are as follows: | |||||||||||||||
$ in millions | Gains / (losses) on available-for-sale securities | Gains / (losses) on cash flow hedges | Change in unfunded pension obligation | Total | |||||||||||
Balance January 1, 2013 | $ | 1.0 | $ | 2.6 | $ | -42.3 | $ | -38.7 | |||||||
Other comprehensive income / (loss) before reclassifications | -1.8 | - | - | -1.8 | |||||||||||
Amounts reclassified from accumulated other comprehensive income / (loss) | 1.4 | 2.3 | 2.7 | 6.4 | |||||||||||
Net current period other comprehensive income / (loss) | -0.4 | 2.3 | 2.7 | 4.6 | |||||||||||
Balance September 30, 2013 | $ | 0.6 | $ | 4.9 | $ | -39.6 | $ | -34.1 | |||||||
Regulatory_Assets_and_Liabilit
Regulatory Assets and Liabilities | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Regulatory Matters | ' | ||||||||||||
3. Regulatory Assets and Liabilities | |||||||||||||
In accordance with GAAP, regulatory assets and liabilities are recorded in the Condensed Consolidated Balance Sheets for our regulated electric transmission and distribution businesses. Regulatory assets are the deferral of costs expected to be recovered in future customer rates and regulatory liabilities represent current recovery of expected future costs or gains probable of being reflected in future rates. | |||||||||||||
We evaluate our regulatory assets each period and believe that recovery of these assets is probable. We have received or requested a return on certain regulatory assets for which we are currently recovering or seeking recovery through rates. We record a return after it has been authorized in an order by a regulator. | |||||||||||||
Regulatory assets and liabilities are classified as current or non-current based on the term in which recovery is expected. | |||||||||||||
Regulatory assets and liabilities for DPL are as follows: | |||||||||||||
$ in millions | Type of Recovery (a) | Amortization through | 30-Sep-13 | 31-Dec-12 | |||||||||
Regulatory assets, current: | |||||||||||||
TCRR, transmission, ancillary and other PJM-related costs | F | Ongoing | $ | 4.5 | $ | 7.0 | |||||||
Fuel and purchased power recovery costs | C | Ongoing | 7.7 | 14.1 | |||||||||
Total regulatory assets, current | $ | 12.2 | $ | 21.1 | |||||||||
Regulatory assets, non-current: | |||||||||||||
Deferred recoverable income taxes | B/C | Ongoing | $ | 32.6 | $ | 35.1 | |||||||
Pension benefits | C | Ongoing | 84.0 | 88.9 | |||||||||
Unamortized loss on reacquired debt | C | Ongoing | 11.2 | 11.9 | |||||||||
Regional transmission organization costs | D | 2014 | 1.5 | 2.6 | |||||||||
Deferred storm costs | D | 25.3 | 24.4 | ||||||||||
CCEM smart grid and AMI infrastructure costs | D | 6.6 | 6.6 | ||||||||||
Energy Efficiency Rider costs | F | Ongoing | 0.8 | 5.2 | |||||||||
Consumer education campaign | D | 3.0 | 3.0 | ||||||||||
Retail settlement system costs | D | 3.1 | 3.1 | ||||||||||
Other costs | 4.3 | 4.7 | |||||||||||
Total regulatory assets, non-current | $ | 172.4 | $ | 185.5 | |||||||||
Regulatory liabilities, current: | |||||||||||||
Other | $ | - | $ | 0.1 | |||||||||
Total regulatory liabilities, current | $ | - | $ | 0.1 | |||||||||
Regulatory liabilities, non-current: | |||||||||||||
Estimated costs of removal - regulated property | $ | 113.4 | $ | 112.1 | |||||||||
Postretirement benefits | 4.6 | 5.0 | |||||||||||
Other | - | 0.2 | |||||||||||
Total regulatory liabilities, non-current | $ | 118.0 | $ | 117.3 | |||||||||
(a)B – Balance has an offsetting liability resulting in no effect on rate base. | |||||||||||||
C – Recovery of incurred costs without a rate of return. | |||||||||||||
D – Recovery not yet determined, but is probable of occurring in future rate proceedings. | |||||||||||||
F – Recovery of incurred costs plus rate of return. | |||||||||||||
Regulatory Assets | |||||||||||||
TCRR, transmission, ancillary and other PJM-related costs represent the costs related to transmission, ancillary service and other PJM-related charges that have been incurred as a member of PJM. On an annual basis, retail rates are adjusted to true-up costs with recovery in rates. | |||||||||||||
Fuel and purchased power recovery costs represent prudently incurred fuel, purchased power, derivative, emission and other related costs which will be recovered from or returned to customers in the future through the operation of the fuel and purchased power recovery rider. The fuel and purchased power recovery rider fluctuates based on actual costs and recoveries and is modified at the start of each seasonal quarter. DP&L implemented the fuel and purchased power recovery rider on January 1, 2010. As part of the PUCO approval process, an external auditor is hired to review fuel costs and the fuel procurement process. On June 12, 2013, we received a report from that external auditor recommending a pre-tax disallowance of $5.3 million of costs. We intend to vigorously contest that disallowance. This case has been set for hearing starting December 9, 2013. | |||||||||||||
Deferred recoverable income taxes represent deferred income tax assets recognized from the normalization of flow through items as the result of tax benefits previously provided to customers. This is the cumulative flow through benefit given to regulated customers that will be collected from them in future years. Since currently existing temporary differences between the financial statements and the related tax basis of assets will reverse in subsequent periods, these deferred recoverable income taxes will decrease over time. | |||||||||||||
Pension benefits represent the qualifying FASC 715 “Compensation – Retirement Benefits” costs of our regulated operations that for ratemaking purposes are deferred for future recovery. We recognize an asset for a plan’s overfunded status or a liability for a plan’s underfunded status, and recognize, as a component of OCI, the changes in the funded status of the plan that arise during the year that are not recognized as a component of net periodic benefit cost. This regulatory asset represents the regulated portion that would otherwise be charged as a loss to OCI. | |||||||||||||
Unamortized loss on reacquired debt represents losses on long-term debt reacquired or redeemed in prior periods. These costs are being amortized over the lives of the original issues in accordance with FERC and PUCO rules. | |||||||||||||
Regional transmission organization costs represent costs incurred to join an RTO. The recovery of these costs will be requested in a future FERC rate case. In accordance with FERC precedence, we are amortizing these costs over a 10-year period that began in 2004 when we joined the PJM RTO. | |||||||||||||
Deferred storm costs relate to costs incurred to repair the damage caused by storms in the following years: | |||||||||||||
· | 2008 – related to costs incurred to repair the damage caused by hurricane force winds in September 2008, as well as other 2008 storms. On January 14, 2009, the PUCO granted DP&L the authority to defer these costs with a return until such time that DP&L seeks recovery in a future rate proceeding. | ||||||||||||
· | 2011 – related to five major storms in 2011. On December 21, 2012, DP&L filed a request with the PUCO for an accounting order to defer costs and a request for recovery of costs associated with these storms. The request for an accounting order is still pending with the PUCO. | ||||||||||||
· | 2012 – related to storm damage that occurred during the final weekend of June 2012. On August 10, 2012, DP&L filed a request with the PUCO, which was modified on October 19, 2012, for an accounting order to defer the costs associated with this storm damage. On December 19, 2012, the PUCO issued an order permitting partial deferral. | ||||||||||||
On December 21, 2012, DP&L filed a request for recovery of all of these deferred storm costs with the PUCO. This case is still pending with the PUCO. On June 17, 2013, PUCO staff recommended the disallowance of approximately $24.0 million of these costs. DP&L strongly disagrees with this recommendation and on July 3, 2013, filed a motion requesting a hearing on the issues. On October 23, 2013 the Commission issued an order directing the PUCO Staff to conduct an audit of these costs and set the hearing to begin on February 4, 2014. At September 30, 2013, DP&L believes recovery of these costs is probable. | |||||||||||||
CCEM smart grid and AMI costs represent costs incurred as a result of studying and developing distribution system upgrades and implementation of AMI. On October 19, 2010, DP&L elected to withdraw its case pertaining to the Smart Grid and AMI programs. The PUCO accepted the withdrawal in an order issued on January 5, 2011. The PUCO also indicated that it expects DP&L to continue to monitor other utilities’ Smart Grid and AMI programs and to explore the potential benefits of investing in Smart Grid and AMI programs and that DP&L will, when appropriate, file new Smart Grid and/or AMI business cases in the future. We plan to file to recover these deferred costs in a future regulatory rate proceeding. Based on PUCO precedent, we believe future recovery of these costs in rates is probable. | |||||||||||||
Energy Efficiency Rider costs represent costs incurred to develop and implement various new customer programs addressing energy efficiency. These costs are being recovered through an energy efficiency rider that began July 1, 2009 and is subject to a two-year true-up for any over/under recovery of costs. DP&L made its most recent two-year true-up filing on April 30, 2013. | |||||||||||||
Consumer education campaign represents costs for consumer education advertising regarding electric deregulation. DP&L will be seeking recovery of these costs as part of our next distribution rate case filing at the PUCO. The timing of such a filing has not yet been determined. | |||||||||||||
Retail settlement system costs represent costs to implement a retail settlement system that reconciles the energy a CRES supplier delivers to its customers with what its customers actually use. Based on case precedent in other utilities’ cases, the costs are most likely recoverable through a future DP&L rate proceeding. | |||||||||||||
Other costs primarily include RPM capacity, other PJM and rate case costs and alternative energy costs that are being recovered or are expected to be recovered over various periods. | |||||||||||||
Regulatory Liabilities | |||||||||||||
Estimated costs of removal – regulated property reflect an estimate of amounts collected in customer rates for costs that are expected to be incurred in the future to remove existing transmission and distribution property from service when the property is retired. | |||||||||||||
Postretirement benefits represent the qualifying FASC 715 “Compensation – Retirement Benefits” gains related to our regulated operations that, for ratemaking purposes, are probable of being reflected in future rates. We recognize an asset for a plan’s overfunded status or a liability for a plan’s underfunded status, and recognize, as a component of OCI, the changes in the funded status of the plan that arise during the year that are not recognized as a component of net periodic benefit cost. This regulatory liability represents the regulated portion that would otherwise be reflected as a gain to OCI. | |||||||||||||
DP&L [Member] | ' | ||||||||||||
Regulatory Matters | ' | ||||||||||||
3. Regulatory Assets and Liabilities | |||||||||||||
In accordance with GAAP, regulatory assets and liabilities are recorded in the Condensed Balance Sheets for our regulated electric transmission and distribution businesses. Regulatory assets are the deferral of costs expected to be recovered in future customer rates and regulatory liabilities represent current recovery of expected future costs or gains probable of recovery being reflected in future rates. | |||||||||||||
We evaluate our regulatory assets each period and believe recovery of these assets is probable. We have received or requested a return on certain regulatory assets for which we are currently recovering or seeking recovery through rates. We record a return after it has been authorized in an order by a regulator. | |||||||||||||
Regulatory assets and liabilities are classified as current or non-current based on the term in which recovery is expected. | |||||||||||||
Regulatory assets and liabilities for DP&L are as follows: | |||||||||||||
$ in millions | Type of Recovery (a) | Amortization through | At September 30, 2013 | At December 31, 2012 | |||||||||
Regulatory assets, current: | |||||||||||||
TCRR, transmission, ancillary and other PJM-related costs | F | Ongoing | $ | 4.5 | $ | 7.0 | |||||||
Fuel and purchased power recovery costs | C | Ongoing | 6.3 | 11.3 | |||||||||
Total regulatory assets, current | $ | 10.8 | $ | 18.3 | |||||||||
Regulatory assets, non-current: | |||||||||||||
Deferred recoverable income taxes | B/C | Ongoing | $ | 32.6 | $ | 35.1 | |||||||
Pension benefits | C | Ongoing | 84.0 | 88.9 | |||||||||
Unamortized loss on reacquired debt | C | Ongoing | 11.2 | 11.9 | |||||||||
Regional transmission organization costs | D | 2014 | 1.5 | 2.6 | |||||||||
Deferred storm costs | D | 25.3 | 24.4 | ||||||||||
CCEM smart grid and AMI infrastructure costs | D | 6.6 | 6.6 | ||||||||||
Energy Efficiency Rider costs | F | Ongoing | 0.8 | 5.2 | |||||||||
Consumer education campaign | D | 3.0 | 3.0 | ||||||||||
Retail settlement system costs | D | 3.1 | 3.1 | ||||||||||
Other costs | 4.3 | 4.7 | |||||||||||
Total regulatory assets, non-current | $ | 172.4 | $ | 185.5 | |||||||||
Regulatory liabilities, current: | |||||||||||||
Other | $ | - | $ | 0.1 | |||||||||
Total regulatory liabilities, current | $ | - | $ | 0.1 | |||||||||
Regulatory liabilities, non-current: | |||||||||||||
Estimated costs of removal - regulated property | $ | 113.4 | $ | 112.1 | |||||||||
Postretirement benefits | 4.6 | 5.0 | |||||||||||
Other | - | 0.2 | |||||||||||
Total regulatory liabilities, non-current | $ | 118.0 | $ | 117.3 | |||||||||
(a)B – Balance has an offsetting liability resulting in no effect on rate base. | |||||||||||||
C – Recovery of incurred costs without a rate of return. | |||||||||||||
D – Recovery not yet determined, but is probable of occurring in future rate proceedings. | |||||||||||||
F – Recovery of incurred costs plus rate of return. | |||||||||||||
Regulatory Assets | |||||||||||||
TCRR, transmission, ancillary and other PJM-related costs represent the costs related to transmission, ancillary service and other PJM-related charges that have been incurred as a member of PJM. On an annual basis, retail rates are adjusted to true-up costs with recovery in rates. | |||||||||||||
Fuel and purchased power recovery costs represent prudently incurred fuel, purchased power, derivative, emission and other related costs which will be recovered from or returned to customers in the future through the operation of the fuel and purchased power recovery rider. The fuel and purchased power recovery rider fluctuates based on actual costs and recoveries and is modified at the start of each seasonal quarter. DP&L implemented the fuel and purchased power recovery rider on January 1, 2010. As part of the PUCO approval process, an external auditor is hired to review fuel costs and the fuel procurement process. On June 12, 2013, we received a report from that external auditor recommending a pre-tax disallowance of $5.3 million of costs. We intend to vigorously contest that disallowance. This case has been set for hearing beginning December 9, 2013. | |||||||||||||
Deferred recoverable income taxes represent deferred income tax assets recognized from the normalization of flow through items as the result of amounts previously provided to customers. This is the cumulative flow through benefit given to regulated customers that will be collected from them in future years. Since currently existing temporary differences between the financial statements and the related tax basis of assets will reverse in subsequent periods, these deferred recoverable income taxes will decrease over time. | |||||||||||||
Pension benefits represent the qualifying FASC 715 “Compensation – Retirement Benefits” costs of our regulated operations that for ratemaking purposes are deferred for future recovery. We recognize an asset for a plan’s overfunded status or a liability for a plan’s underfunded status, and recognize, as a component of OCI, the changes in the funded status of the plan that arise during the year that are not recognized as a component of net periodic benefit cost. This regulatory asset represents the regulated portion that would otherwise be charged as a loss to OCI. | |||||||||||||
Unamortized loss on reacquired debt represents losses on long-term debt reacquired or redeemed in prior periods. These costs are being amortized over the lives of the original issues in accordance with FERC and PUCO rules. | |||||||||||||
Regional transmission organization costs represent costs incurred to join an RTO. The recovery of these costs will be requested in a future FERC rate case. | |||||||||||||
Deferred storm costs relate to costs incurred to repair the damage caused by storms in the following years: | |||||||||||||
· | 2008 – related to costs incurred to repair the damage caused by hurricane force winds in September 2008, as well as other 2008 storms. On January 14, 2009, the PUCO granted DP&L the authority to defer these costs with a return until such time that DP&L seeks recovery in a future rate proceeding. | ||||||||||||
· | 2011 – related to five major storms in 2011. On December 21, 2012, DP&L filed a request with the PUCO for an accounting order to defer costs and a request for recovery of costs associated with these storms. | ||||||||||||
· | 2012 – related to storm damage that occurred during the final weekend of June 2012. On August 10, 2012, DP&L filed a request with the PUCO, which was modified on October 19, 2012, for an accounting order to defer the costs associated with this storm damage. On December 19, 2012, the PUCO issued an order permitting partial deferral. | ||||||||||||
On December 21, 2012, DP&L filed a request for recovery of all of these deferred storm costs with the PUCO. On June 17, 2013, PUCO staff recommended the disallowance of approximately $24.0 million of these costs. DP&L strongly disagrees with this recommendation and filed a motion requesting a hearing on the issues. On October 23, 2013 the Commission issued an order directing the PUCO Staff to conduct an audit of these costs and set the hearing to begin on February 4, 2014. At September 30, 2013, DP&L believes recovery of these costs is probable. | |||||||||||||
CCEM smart grid and AMI costs represent costs incurred as a result of studying and developing distribution system upgrades and implementation of AMI. On October 19, 2010, DP&L elected to withdraw its case pertaining to the Smart Grid and AMI programs. The PUCO accepted the withdrawal in an order issued on January 5, 2011. The PUCO also indicated that it expects DP&L to continue to monitor other utilities’ Smart Grid and AMI programs and to explore the potential benefits of investing in Smart Grid and AMI programs and that DP&L will, when appropriate, file new Smart Grid and/or AMI business cases in the future. We plan to file to recover these deferred costs in a future regulatory rate proceeding. Based on PUCO precedent, we believe future recovery of these costs in rates is probable. | |||||||||||||
Energy Efficiency Rider costs represent costs incurred to develop and implement various new customer programs addressing energy efficiency. These costs are being recovered through an energy efficiency rider that began July 1, 2009 and is subject to a two-year true-up for any over/under recovery of costs. DP&L made its most recent two-year true-up filing on April 30, 2013. | |||||||||||||
Consumer education campaign represents costs for consumer education advertising regarding electric deregulation. DP&L will be seeking recovery of these costs as part of our next distribution rate case filing at the PUCO. The timing of such a filing has not yet been determined. | |||||||||||||
Retail settlement system costs represent costs to implement a retail settlement system that reconciles the energy a CRES supplier delivers to its customers and what its customers actually use. Based on case precedent in other utilities’ cases, the costs are most likely recoverable through a future DP&L rate proceeding. | |||||||||||||
Other costs primarily include RPM capacity, other PJM and rate case costs and alternative energy costs that are being recovered or are expected to be recovered over various periods. | |||||||||||||
Regulatory Liabilities | |||||||||||||
Estimated costs of removal – regulated property reflect an estimate of amounts collected in customer rates for costs that are expected to be incurred in the future to remove existing transmission and distribution property from service when the property is retired. | |||||||||||||
Postretirement benefits represent the qualifying FASC 715 “Compensation – Retirement Benefits” gains related to our regulated operations that, for ratemaking purposes, are probable of being reflected in future rates. We recognize an asset for a plan’s overfunded status or a liability for a plan’s underfunded status, and recognize, as a component of OCI, the changes in the funded status of the plan that arise during the year that are not recognized as a component of net periodic benefit cost. This regulatory liability represents the regulated portion that would otherwise be reflected as a gain to OCI. | |||||||||||||
Ownership_of_Coalfired_Facilit
Ownership of Coal-fired Facilities | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Ownership of Coal-fired Facilities | ' | |||||||||||||||
4. Ownership of Coal-fired Facilities | ||||||||||||||||
DP&L has undivided ownership interests in seven coal-fired electric generating facilities and numerous transmission facilities with certain other Ohio utilities. Certain expenses, primarily fuel costs for the generating units, are allocated to the owners based on the energy taken. The remaining expenses, investments in fuel inventory, plant materials and operating supplies, and capital additions are allocated to the owners in accordance with their respective ownership interests. At September 30, 2013, DP&L had $18.0 million of construction work in process at such jointly owned facilities. DP&L’s share of the operating cost of such facilities is included within the corresponding line in the Condensed Consolidated Statements of Results of Operations and DP&L’s share of the investment in the facilities is included within Total net property, plant and equipment in the Condensed Consolidated Balance Sheets. Each joint owner provides their own financing for their share of the operations and capital expenditures of the jointly owned units and stations. | ||||||||||||||||
DP&L’s undivided ownership interest in such facilities as well as our wholly owned coal-fired Hutchings Station at September 30, 2013 is as follows: | ||||||||||||||||
DP&L Share | DPL Carrying value | |||||||||||||||
Jointly owned production units and stations: | Ownership | Summer Production Capacity (MW) | Gross Plant in Service | Accumulated Depreciation | Construction Work in Process | SCR and FGD Equipment Installed and in Service (Yes/No) | ||||||||||
(%) | ($ in millions) | ($ in millions) | ($ in millions) | |||||||||||||
Beckjord Unit 6 | 50 | 207 | $ | 2 | $ | 1 | $ | - | No | |||||||
Conesville Unit 4 | 16.5 | 129 | 52 | 2 | - | Yes | ||||||||||
East Bend Station | 31 | 186 | 13 | 4 | 3 | Yes | ||||||||||
Killen Station | 67 | 402 | 305 | 8 | 2 | Yes | ||||||||||
Miami Fort Units 7 and 8 | 36 | 368 | 212 | 11 | - | Yes | ||||||||||
Stuart Station | 35 | 808 | 202 | 12 | 11 | Yes | ||||||||||
Zimmer Station | 28.1 | 365 | 181 | 22 | 2 | Yes | ||||||||||
Transmission (at varying percentages) | n/a | 41 | 4 | - | ||||||||||||
Total | 2,465 | $ | 1,008 | $ | 64 | $ | 18 | |||||||||
Wholly owned production station: | ||||||||||||||||
Hutchings Station | 100 | - | $ | - | $ | - | $ | - | No | |||||||
Currently, our coal-fired generation units at Hutchings and Beckjord do not have SCR and FGD emission-control equipment installed. DP&L owns 100% of the Hutchings Station and has a 50% interest in Beckjord Unit 6. On July 15, 2011, Duke Energy, a co-owner at Beckjord Unit 6, filed its Long-term Forecast Report with the PUCO. The plan indicated that Duke Energy plans to cease production at the Beckjord Station, including our jointly owned Unit 6, in December 2014. This was followed by a notification by the joint owners to PJM, dated April 12, 2012, of a planned June 1, 2015 deactivation of this station. Beckjord Unit 6 was valued at zero at the Merger date. | ||||||||||||||||
DP&L has informed PJM that Hutchings Unit 4 was deactivated on June 1, 2013. In addition, DP&L has notified PJM that the remaining coal-fired units at the Hutchings Station will be deactivated on June 1, 2015. The decision to deactivate these remaining coal-fired units has been made in part because these units are not equipped with the advanced environmental control technologies needed to comply with the MATS, and the expected cost of compliance with MATS for these units would exceed the expected return. Additionally, conversion of the coal-fired units to natural gas was investigated, but the cost of investment exceeded the expected return. | ||||||||||||||||
As part of a settlement with the USEPA, DP&L signed a Consent Agreement and Final Order (CAFO) that was filed on September 26, 2013. The CAFO resolves the opacity and particulate emissions NOV at the Hutchings Station and requires that all six coal-fired units at Hutchings cease operating on coal by September 30, 2013, and includes an immaterial penalty and the completion of a Supplemental Environmental Project of $0.2 million within one year. The units were disabled for coal operations prior to September 30, 2013. The removal of this capacity has been reflected in the table above. | ||||||||||||||||
DPL revalued DP&L’s investment in the above plants at the estimated fair value for each plant at the Merger date. | ||||||||||||||||
DP&L [Member] | ' | |||||||||||||||
Ownership of Coal-fired Facilities | ' | |||||||||||||||
4. Ownership of Coal-fired Facilities | ||||||||||||||||
DP&L has undivided ownership interests in seven coal-fired electric generating facilities and numerous transmission facilities with certain other Ohio utilities. Certain expenses, primarily fuel costs for the generating units, are allocated to the owners based on the energy taken. The remaining expenses, investments in fuel inventory, plant materials and operating supplies, and capital additions are allocated to the owners in accordance with their respective ownership interests. As of September 30, 2013, DP&L had $18.0 million of construction work in process at such jointly owned facilities. DP&L’s share of the operating cost of such facilities is included within the corresponding line in the Condensed Statements of Results of Operations and DP&L’s share of the investment in the facilities is included within Total net property, plant & equipment in the Condensed Balance Sheets. Each joint owner provides their own financing for their share of the operations and capital expenditures of the jointly owned unit or station. | ||||||||||||||||
DP&L’s undivided ownership interest in such facilities as well as our wholly owned coal-fired Hutchings Station at September 30, 2013, is as follows: | ||||||||||||||||
DP&L Share | DP&L Carrying value | |||||||||||||||
Jointly owned production units and stations: | Ownership | Summer Production Capacity (MW) | Gross Plant in Service | Accumulated Depreciation | Construction Work in Process | SCR and FGD Equipment Installed and in Service (Yes/No) | ||||||||||
(%) | ($ in millions) | ($ in millions) | ($ in millions) | |||||||||||||
Beckjord Unit 6 | 50 | 207 | $ | 76 | $ | 67 | $ | - | No | |||||||
Conesville Unit 4 | 16.5 | 129 | 44 | 1 | - | Yes | ||||||||||
East Bend Station | 31 | 186 | 210 | 139 | 3 | Yes | ||||||||||
Killen Station | 67 | 402 | 624 | 303 | 2 | Yes | ||||||||||
Miami Fort Units 7 and 8 | 36 | 368 | 361 | 149 | - | Yes | ||||||||||
Stuart Station | 35 | 808 | 744 | 305 | 11 | Yes | ||||||||||
Zimmer Station | 28.1 | 365 | 1,098 | 652 | 2 | Yes | ||||||||||
Transmission (at varying percentages) | 97 | 60 | - | |||||||||||||
Total | 2,465 | $ | 3,254 | $ | 1,676 | $ | 18 | |||||||||
Wholly owned production station: | ||||||||||||||||
Hutchings Station | 100 | - | $ | - | $ | - | $ | - | No | |||||||
Currently, our coal-fired generation units at Hutchings and Beckjord do not have SCR and FGD emission-control equipment installed. DP&L owns 100% of the Hutchings Station and has a 50% interest in Beckjord Unit 6. On July 15, 2011, Duke Energy, a co-owner at the Beckjord Unit 6 facility, filed its Long-term Forecast Report with the PUCO. The plan indicated that Duke Energy plans to cease production at the Beckjord Station, including our jointly owned Unit 6, in December 2014. This was followed by a notification by the joint owners to PJM, dated April 12, 2012, of a planned June 1, 2015 deactivation of this unit. | ||||||||||||||||
DP&L has informed PJM that Hutchings Unit 4 was deactivated on June 1, 2013. In addition, DP&L has notified PJM that the remaining coal-fired units at the Hutchings Station will be deactivated on June 1, 2015. The decision to deactivate these remaining coal-fired units has been made in part because these units are not equipped with the advanced environmental control technologies needed to comply with the MATS, and the expected cost of compliance with MATS for these units would exceed the expected return. Additionally, conversion of the coal-fired units to natural gas was investigated, but the cost of investment exceeded the expected return. | ||||||||||||||||
As part of a settlement with the USEPA, DP&L signed a Consent Agreement and Final Order (CAFO) that was filed on September 26, 2013. The CAFO resolves the opacity and particulate emissions NOV at the Hutchings Station and requires that all six coal-fired units at Hutchings cease operating on coal by September 30, 2013, and include an immaterial penalty and the completion of a Supplemental Environmental Project of $0.2 million within one year. The units were disabled for coal operations prior to September 30, 2013. The removal of this capacity has been reflected in the table above. | ||||||||||||||||
Debt_Obligations
Debt Obligations | 9 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Debt Obligations | ' | ||||||
5. Debt Obligations | |||||||
Long-term debt | |||||||
$ in millions | 30-Sep-13 | 31-Dec-12 | |||||
Pollution control series maturing in January 2028 - 4.7% | $ | 36.0 | $ | 36.1 | |||
Pollution control series maturing in January 2034 - 4.8% | 179.6 | 179.6 | |||||
Pollution control series maturing in September 2036 - 4.8% | 96.3 | 96.3 | |||||
Pollution control series maturing in November 2040 - rates from: 0.06% - 0.24% and 0.04% - 0.26% (a) | 100.0 | - | |||||
First mortgage bonds maturing in September 2016 - 1.9% | 445.0 | - | |||||
U.S. Government note maturing in February 2061 - 4.2% | 18.3 | 18.3 | |||||
Capital lease obligations | - | 0.1 | |||||
Unamortized debt discount | -0.7 | - | |||||
Total long-term debt at subsidiary | 874.5 | 330.4 | |||||
Bank term loan maturing in August 2014 (repaid in May 2013) - rates from: 2.46% and 2.22% - 2.47% (a) | - | 425.0 | |||||
Bank term loan maturing in May 2018 - rates from: 2.44% - 2.45% (b) | 190.0 | - | |||||
Senior unsecured bonds maturing in October 2016 - 6.5% | 450.0 | 450.0 | |||||
Senior unsecured bonds maturing in October 2021 - 7.3% | 800.0 | 800.0 | |||||
Note to DPL Capital Trust II maturing in September 2031 - 8.125% | 19.6 | 19.6 | |||||
Total non-current portion of long-term debt | $ | 2,334.1 | $ | 2,025.0 | |||
Current portion of long-term debt | |||||||
$ in millions | 30-Sep-13 | 31-Dec-12 | |||||
First mortgage bonds maturing in October 2013 - 5.125% | $ | 470.2 | $ | 484.5 | |||
Pollution control series maturing in November 2040 - rates from: 0.06% - 0.24% and 0.04% - 0.26% (a) | - | 100.0 | |||||
Bank term loan maturing in May 2018 - rates from: 2.44% - 2.45% (b) | 10.0 | - | |||||
U.S. Government note maturing in February 2061 - 4.2% | 0.1 | 0.1 | |||||
Capital lease obligations | 0.1 | 0.3 | |||||
Total current portion of long-term debt | $ | 480.4 | $ | 584.9 | |||
(a)Range of interest rates for the nine months ended September 30, 2013 and the twelve months ended December 31, 2012, respectively. | |||||||
(b)Range of interest rates from inception of loan through September 30, 2013. | |||||||
At September 30, 2013, maturities of long-term debt, including capital lease obligations, are as follows: | |||||||
$ in millions due within the twelve months ending: | |||||||
30-Sep-14 | $ | 480.3 | |||||
30-Sep-15 | 40.1 | ||||||
30-Sep-16 | 485.1 | ||||||
30-Sep-17 | 490.1 | ||||||
30-Sep-18 | 70.1 | ||||||
Thereafter | 1,252.8 | ||||||
Total maturities | 2,818.5 | ||||||
Unamortized premiums and discounts | -4 | ||||||
Total long-term debt | $ | 2,814.5 | |||||
Premiums or discounts recognized at the Merger date are amortized over the remaining life of the debt using the effective interest method. | |||||||
On December 4, 2008, the OAQDA issued $100.0 million of collateralized, variable rate Revenue Refunding Bonds Series A and B due November 1, 2040. In turn, DP&L borrowed these funds from the OAQDA and issued corresponding first mortgage bonds to support repayment of the funds. The payment of principal and interest on each series of the bonds when due is backed by two standby letters of credit issued by JPMorgan Chase Bank, N.A. DP&L amended these standby letters of credit on May 31, 2013 and extended the stated maturities to June 2018. These amended facilities are irrevocable, have no subjective acceleration clauses and remain subject to terms and conditions that are substantially similar to those of the pre-existing facilities. Fees associated with these standby letter of credit facilities were not material during the three and nine months ended September 30, 2013 and 2012. | |||||||
On April 20, 2010, DP&L entered into a $200.0 million unsecured revolving credit agreement with a syndicated bank group. The agreement provided DP&L with the ability to increase the size of the facility by an additional $50.0 million. This agreement, originally for a three year term expiring on April 20, 2013, was extended through May 31, 2013 pursuant to an amendment dated April 11, 2013. DP&L had no outstanding borrowings under this credit facility at December 31, 2012 or at the termination of the agreement. Fees associated with this revolving credit facility were not material during the three and nine months ended September 30, 2013 and 2012. This facility also contained a $50.0 million letter of credit sublimit. | |||||||
On August 24, 2011, DP&L entered into a $200.0 million unsecured revolving credit agreement with a syndicated bank group. This agreement was for a four year term expiring on August 24, 2015 and provided DP&L with the ability to increase the size of the facility by an additional $50.0 million. DP&L had no outstanding borrowings under this credit facility at December 31, 2012 or at the termination of the agreement. Fees associated with this revolving credit facility were not material during the three and nine months ended September 30, 2013 and 2012. This facility also contained a $50.0 million letter of credit sublimit. | |||||||
On May 10, 2013, DP&L terminated both of the unsecured revolving credit agreements mentioned above and concurrently closed a new $300.0 million unsecured revolving credit agreement with a syndicated bank group. This new $300.0 million facility has a five year term expiring on May 10, 2018, a $100.0 million letter of credit sublimit and a feature which provides DP&L the ability to increase the size of the facility by an additional $100.0 million. The other terms and conditions of this new revolving credit facility are substantially similar to those of the pre-existing DP&L revolving credit facilities. DP&L had no outstanding borrowings under this facility at September 30, 2013. At September 30, 2013, there was a letter of credit in the amount of $0.4 million outstanding, with the remaining $299.6 million available to DP&L. Fees associated with this revolving credit facility were not material during the three and nine months ended September 30, 2013. | |||||||
DP&L’s prior unsecured revolving credit agreements and DP&L’s standby letters of credit had one financial covenant which measured Total Debt to Total Capitalization. The Total Debt to Total Capitalization ratio is calculated, at the end of each fiscal quarter, by dividing total debt at the end of the quarter by total capitalization at the end of the quarter. DP&L’s new unsecured revolving credit agreement and DP&L’s amended standby letters of credit maintain the Total Debt to Total Capitalization financial covenant and add the EBITDA to Interest Expense ratio as a second financial covenant. The EBITDA to Interest Expense ratio is calculated, at the end of each fiscal quarter, by dividing EBITDA for the four prior fiscal quarters by the consolidated interest charges for the same period. | |||||||
On March 1, 2011, DP&L completed the purchase of $18.7 million of electric transmission and distribution assets from the federal government that are located at the Wright-Patterson Air Force Base. DP&L financed the acquisition of these assets with a note payable to the federal government that is payable monthly over 50 years and bears interest at 4.2% per annum. | |||||||
On September 19, 2013, DP&L closed a $445.0 million issuance of senior secured first mortgage bonds. These new bonds mature on September 15, 2016, and are secured by DP&L’s First & Refunding Mortgage. On October 1, 2013, DP&L used the net proceeds of these new bonds, along with cash on hand, to redeem, at par value, the $470.0 million of first mortgage bonds that matured on October 1, 2013. | |||||||
On August 24, 2011, DPL entered into a $125.0 million unsecured revolving credit agreement with a syndicated bank group. This agreement was for a three year term expiring on August 24, 2014. The size of the facility was reduced from $125.0 million to $75.0 million pursuant to an amendment dated October 19, 2012 that was negotiated between DPL and the syndicated bank group. DPL had no outstanding borrowings under this credit facility at December 31, 2012 or at the termination of the agreement on May 10, 2013. Fees associated with this revolving credit facility were not material during the three and nine months ended September 30, 2013 and 2012. This facility also had a $75.0 million letter of credit sublimit. | |||||||
On May 10, 2013, DPL entered into a new $100.0 million unsecured revolving credit facility and concurrently terminated the existing $75.0 million facility. This new $100.0 million facility has a $100.0 million letter of credit sublimit and a feature which provides DPL the ability to increase the size of the facility by an additional $50.0 million. This new facility has a five year term expiring on May 10, 2018; however, if DPL has not refinanced its $450.0 million of senior unsecured bonds due October 2016 before July 15, 2016, then the maturity of this new DPL credit facility shall be July 15, 2016. The other terms and conditions of this new revolving credit facility are substantially similar to those of the pre-existing DPL revolving credit facility. On July 10, 2013, DPL repaid the $50.0 million balance that was outstanding on this credit facility as of June 30, 2013. DPL had no outstanding letters of credit under this credit facility at September 30, 2013. Fees associated with this revolving credit facility were not material during the three and nine months ended September 30, 2013. | |||||||
On August 24, 2011, DPL entered into a $425.0 million unsecured term loan agreement with a syndicated bank group. This agreement was for a three year term expiring on August 24, 2014. At December 31, 2012 and at the termination of the agreement on May 10, 2013, as further described below, DPL had borrowed the entire $425.0 million available under this facility. Fees associated with this term loan were not material during the three and nine months ended September 30, 2013 and 2012. | |||||||
On May 10, 2013, DPL entered into a new $200.0 million unsecured term loan agreement. This new term loan has a five year term expiring on May 10, 2018; however, if DPL has not either: (a) prepaid the full $200.0 million term loan balance; or (b) refinanced its $450.0 million of senior unsecured bonds due October 2016 before July 15, 2016, then the maturity of this new DPL term loan shall be July 15, 2016. This term loan amortizes at 5% of the original balance per quarter from September 2014 to maturity. The other terms and conditions of this new revolving credit facility are substantially similar to those of the pre-existing DPL term loan. Fees associated with this new term loan were not material during the three and nine months ended September 30, 2013. | |||||||
Concurrent with the inception of the new revolving credit facility and term loan, DPL terminated the $425.0 million term loan agreement, and used $175.0 million of cash on hand, $50.0 million from the new DPL credit facility and $200.0 million from a one-time draw on the new term loan, to prepay the outstanding $425.0 million term loan balance. As mentioned above, the $50.0 million draw on the DPL revolving credit facility was repaid on July 10, 2013. | |||||||
DPL’s prior unsecured revolving credit agreement and DPL’s prior unsecured term loan had two financial covenants, one of which was changed as part of amendments to such facilities dated October 19, 2012, negotiated between DPL and the syndicated bank groups. The first financial covenant, originally a Total Debt to Capitalization ratio, was changed, effective September 30, 2012, to a Total Debt to EBITDA ratio. The Total Debt to EBITDA ratio was calculated, at the end of each fiscal quarter, by dividing total debt at the end of the current quarter by consolidated EBITDA for the four prior fiscal quarters. The second financial covenant was an EBITDA to Interest Expense ratio. The EBITDA to Interest Expense ratio is calculated, at the end of each fiscal quarter, by dividing EBITDA for the four prior fiscal quarters by the consolidated interest charges for the same period. DPL’s new unsecured revolving credit agreement and DPL’s new unsecured term loan maintain these same two financial covenants. | |||||||
DPL’s new unsecured revolving credit agreement and DPL’s new unsecured term loan executed on May 10, 2013 restrict dividend payments from DPL to AES and adjust the cost of borrowing under the facilities under certain credit rating scenarios. | |||||||
In connection with the closing of the Merger, DPL assumed $1,250.0 million of debt that Dolphin Subsidiary II, Inc., a subsidiary of AES, issued on October 3, 2011 to partially finance the Merger. The $1,250.0 million was issued in two tranches. The first tranche was $450.0 million of five year senior unsecured notes issued with a 6.50% coupon maturing on October 15, 2016. The second tranche was $800.0 million of ten year senior unsecured notes issued with a 7.25% coupon maturing on October 15, 2021. | |||||||
Substantially all property, plant & equipment of DP&L is subject to the lien of the mortgage securing DP&L’s First and Refunding Mortgage, dated October 1, 1935, with the Bank of New York Mellon as Trustee. | |||||||
DP&L [Member] | ' | ||||||
Debt Obligations | ' | ||||||
5. Debt Obligations | |||||||
Long-term debt | |||||||
$ in millions | 30-Sep-13 | 31-Dec-12 | |||||
Pollution control series maturing in January 2028 - 4.7% | $ | 35.3 | $ | 35.3 | |||
Pollution control series maturing in January 2034 - 4.8% | 179.1 | 179.1 | |||||
Pollution control series maturing in September 2036 - 4.8% | 100.0 | 100.0 | |||||
Pollution control series maturing in November 2040 - rates from: 0.06% - 0.24% and 0.04% - 0.26% (a) | 100.0 | - | |||||
First mortgage bonds maturing in September 2016 - 1.875% | 445.0 | - | |||||
U.S. Government note maturing in February 2061 - 4.2% | 18.3 | 18.3 | |||||
Capital lease obligation | - | 0.1 | |||||
Unamortized debt discount | -0.8 | -0.1 | |||||
Total non-current portion of long-term debt | $ | 876.9 | $ | 332.7 | |||
Current portion of long-term debt | |||||||
$ in millions | 30-Sep-13 | 31-Dec-12 | |||||
First mortgage bonds maturing in October 2013 - 5.125% | $ | 470.0 | $ | 470.0 | |||
Pollution control series maturing in November 2040 - rates from: 0.06% - 0.24% and 0.04% - 0.26% (a) | - | 100.0 | |||||
U.S. Government note maturing in February 2061 - 4.2% | 0.1 | 0.1 | |||||
Capital lease obligations | 0.2 | 0.3 | |||||
Total current portion of long-term debt | $ | 470.3 | $ | 570.4 | |||
(a) Range of interest rates for the nine months ended September 30, 2013 and the twelve months ended December 31, 2012, respectively. | |||||||
At September 30, 2013, maturities of long-term debt, including capital lease obligations, are as follows: | |||||||
$ in millions due within the twelve months ending: | |||||||
30-Sep-14 | $ | 470.3 | |||||
30-Sep-15 | 0.1 | ||||||
30-Sep-16 | 445.1 | ||||||
30-Sep-17 | 0.1 | ||||||
30-Sep-18 | 0.1 | ||||||
Thereafter | 431.5 | ||||||
Total long-term debt | $ | 1,347.2 | |||||
On December 4, 2008, the OAQDA issued $100.0 million of collateralized, variable rate Revenue Refunding Bonds Series A and B due November 1, 2040. In turn, DP&L borrowed these funds from the OAQDA and issued corresponding first mortgage bonds to support repayment of the funds. The payment of principal and interest on each series of the bonds when due is backed by two standby letters of credit issued by JPMorgan Chase Bank, N.A. DP&L amended these standby letters of credit on May 31, 2013 and extended the stated maturities to June 2018. These amended facilities are irrevocable, have no subjective acceleration clauses and remain subject to terms and conditions that are substantially similar to those of the pre-existing facilities. Fees associated with these standby letter of credit facilities were not material during the three and nine months ended September 30, 2013 and 2012. | |||||||
On April 20, 2010, DP&L entered into a $200.0 million unsecured revolving credit agreement with a syndicated bank group. The agreement provided DP&L with the ability to increase the size of the facility by an additional $50.0 million. This agreement, originally for a three year term expiring on April 20, 2013, was extended through May 31, 2013 pursuant to an amendment dated April 11, 2013. DP&L had no outstanding borrowings under this credit facility at December 31, 2012 or at the termination of the agreement. Fees associated with this revolving credit facility were not material during the three and nine months ended September 30, 2013 and 2012. This facility also contained a $50.0 million letter of credit sublimit. | |||||||
On August 24, 2011, DP&L entered into a $200.0 million unsecured revolving credit agreement with a syndicated bank group. This agreement was for a four year term expiring on August 24, 2015 and provided DP&L with the ability to increase the size of the facility by an additional $50.0 million. DP&L had no outstanding borrowings under this credit facility at December 31, 2012 or at the termination of the agreement. Fees associated with this revolving credit facility were not material during the three and nine months ended September 30, 2013 and 2012. This facility also contained a $50.0 million letter of credit sublimit. At the time of termination of these unsecured revolving credit facilities, as further described below, DP&L had no outstanding borrowings or letters of credit under these credit facilities. | |||||||
On May 10, 2013, DP&L terminated both of the unsecured revolving credit agreements mentioned above and concurrently closed a new $300.0 million unsecured revolving credit agreement with a syndicated bank group. This new $300.0 million facility has a five year term expiring on May 10, 2018, a $100.0 million letter of credit sublimit and a feature which provides DP&L the ability to increase the size of the facility by an additional $100.0 million. The other terms and conditions of this new revolving credit facility are substantially similar to those of the pre-existing DP&L revolving credit facilities. DP&L had no outstanding borrowings under this facility at September 30, 2013. At September 30, 2013, there was a letter of credit in the amount of $0.4 million outstanding, with the remaining $299.6 million available to DP&L. Fees associated with this revolving credit facility were not material during the three and nine months ended September 30, 2013. | |||||||
On September 19, 2013, DP&L closed a $445.0 million issuance of senior secured first mortgage bonds. These new bonds mature on September 15, 2016, and are secured by DP&L’s First & Refunding Mortgage. On October 1, 2013, DP&L used the net proceeds of these new bonds, along with cash on hand, to redeem, at par value, the $470.0 million of first mortgage bonds that matured on October 1, 2013. | |||||||
DP&L’s unsecured revolving credit agreements and DP&L’s standby letter of credit had one financial covenant which measured Total Debt to Total Capitalization. The Total Debt to Total Capitalization ratio is calculated, at the end of each fiscal quarter, by dividing total debt at the end of the quarter by total capitalization at the end of the quarter. DP&L’s new unsecured revolving credit agreement and DP&L’s amended standby letters of credit maintain the Total Debt to Total Capitalization financial covenant and add the EBITDA to Interest Expense ratio as a second financial covenant. The EBITDA to Interest Expense ratio is calculated, at the end of each fiscal quarter, by dividing EBITDA for the four prior fiscal quarters by the consolidated interest charges for the same period. | |||||||
On March 1, 2011, DP&L completed the purchase of $18.7 million of electric transmission and distribution assets from the federal government that are located at the Wright-Patterson Air Force Base. DP&L financed the acquisition of these assets with a note payable to the federal government that is payable monthly over 50 years and bears interest at 4.2% per annum. | |||||||
Income_Taxes
Income Taxes | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Income Taxes | ' | ||||||||||||
6. Income Taxes | |||||||||||||
The following table details the effective tax rates for the three and nine months ended September 30, 2013 and 2012. | |||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
DPL | 25.40% | -1.20% | 21.50% | -2.30% | |||||||||
Income tax expense for the three and nine months ended September 30, 2013 and 2012 was calculated using the estimated annual effective income tax rates for 2013 and 2012 of 31.0% and 33.2%, respectively. For the three and nine months ended September 30, 2013, management estimates the annual effective tax rate based on its forecast of annual pre-tax income. For the three and nine months ended September 30, 2012, management estimates the annual effective tax rate based on its actual pre-tax income for the period. To the extent that actual pre-tax results for the year differ from the forecasts applied to the most recent interim period, the rates estimated could be materially different from the actual effective tax rates. | |||||||||||||
For the three months ended September 30, 2013, DPL’s current period effective rate is less than the estimated annual effective rate due to a 2013 deferred tax adjustment related to the expiration of the statute of limitations on the 2009 tax year. | |||||||||||||
For the nine months ended September 30, 2013, DPL’s current period effective rate is less than the estimated annual effective rate due primarily to a favorable resolution of the 2008 Internal Revenue Service examination in the first quarter of 2013 and a 2013 deferred tax adjustment related to the expiration of the statute of limitations on the 2007, 2008 and 2009 tax years. The decrease in the effective rate compared to the same periods in 2012 is due to the factors mentioned above. | |||||||||||||
Deferred tax liabilities for DPL increased by approximately $41.1 million during the nine months ended September 30, 2013 primarily related to the resolution of the 2008 Internal Revenue Service examination in the first quarter of 2013, as well as changes in OCI and adjustments for differences between book and tax depreciation and amortization. | |||||||||||||
The Internal Revenue Service began an examination of our 2008 Federal income tax return during the second quarter of 2010. The results of the examination were approved by the Joint Committee on Taxation on January 18, 2013. As a result of the examination, DPL received a refund of $19.9 million and recorded a $1.2 million reduction to income tax expense. | |||||||||||||
On September 13, 2013, the Internal Revenue Service released final regulations addressing the acquisition, production and improvement of tangible property and proposed regulations addressing the disposition of property. These regulations replace previously issued temporary regulations and are effective for tax years beginning on or after January 1, 2014. DPL has not yet performed a detailed analysis of the potential impact of the new regulations, but based on previously implemented method changes regarding repairs, believes it is currently in compliance with the vast majority of the provisions in the new regulations and that upon full adoption there will be no material impact on the financial statements. DPL will be evaluating elections and safe harbor methods available and future guidance yet to be issued regarding implementation of the new regulations which may change the timing of future income tax payments. | |||||||||||||
DP&L [Member] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
6. Income Taxes | |||||||||||||
The following table details the effective tax rates for the three and nine months ended September 30, 2013 and 2012. | |||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
DP&L | 24.40% | -138.30% | 22.50% | 40.30% | |||||||||
Income tax expense for the three and nine months ended September 30, 2013 and 2012 was calculated using the estimated annual effective income tax rates for 2013 and 2012 of 29.5% and 30.7%, respectively. For the three and nine months ended September 30, 2013, management estimates the annual effective tax rate based on its forecast of annual pre-tax income. For the three and nine months ended September 30, 2012, management estimates the annual effective tax rate based on its actual pre-tax income for the period. To the extent that actual pre-tax results for the year differ from the forecasts applied to the most recent interim period, the rates estimated could be materially different from the actual effective tax rates. | |||||||||||||
For the three months ended September 30, 2013, DP&L’s current period effective rate is less than the estimated annual effective rate due to a 2013 deferred tax adjustment related to the expiration of the statute of limitations on the 2009 tax year. | |||||||||||||
For the nine months ended September 30, 2013, DP&L’s current period effective rate is less than the estimated annual effective rate due primarily to a favorable resolution of the 2008 Internal Revenue Service examination in the first quarter of 2013 and the deferred tax adjustment related to the expiration of the statute of limitations on the 2007, 2008 and 2009 tax years. The decrease in the effective rate compared to the same periods in 2012 is due to the factors mentioned above. | |||||||||||||
Deferred tax liabilities for DP&L increased by approximately $28.4 million during the nine months ended September 30, 2013 primarily related to the resolution of the 2008 Internal Revenue Service examination in the first quarter of 2013, as well as changes in OCI and adjustments for differences between book and tax depreciation and amortization. | |||||||||||||
The Internal Revenue Service began an examination of our 2008 federal income tax return during the second quarter of 2010. The results of the examination were approved by the Joint Committee on Taxation on January 18, 2013. As a result of the examination, DP&L received a refund of $19.9 million and recorded a $1.2 million reduction to income tax expense. | |||||||||||||
On September 13, 2013, the Internal Revenue Service released final regulations addressing the acquisition, production and improvement of tangible property and proposed regulations addressing the disposition of property. These regulations replace previously issued temporary regulations and are effective for tax years beginning on or after January 1, 2014. DP&L has not yet performed a detailed analysis of the potential impact of the new regulations, but based on previously implemented method changes regarding repairs, believes it is currently in compliance with the vast majority of the provisions in the new regulations and that upon full adoption there will be no material impact on the financial statements. DP&L will be evaluating elections and safe harbor methods available and future guidance yet to be issued regarding implementation of the new regulations which may change the timing of future income tax payments. | |||||||||||||
Pension_and_Postretirement_Ben
Pension and Postretirement Benefits | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Pension and Postretirement Benefits | ' | ||||||||||||
7. Pension and Postretirement Benefits | |||||||||||||
DP&L sponsors a defined benefit pension plan for the vast majority of its employees. | |||||||||||||
We generally fund pension plan benefits as accrued in accordance with the minimum funding requirements of the Employee Retirement Income Security Act of 1974 (ERISA) and, in addition, make voluntary contributions from time to time. There were no contributions made during the three and nine months ended September 30, 2013 or 2012, respectively. | |||||||||||||
The amounts presented in the following tables for pension include both the collective bargaining plan formula, the traditional management plan formula, the cash balance plan formula and the SERP, in the aggregate. The amounts presented for postretirement include both health and life insurance. | |||||||||||||
The net periodic benefit cost/(income) of the pension and postretirement benefit plans for the three and nine months ended September 30, 2013 and 2012 was: | |||||||||||||
Net Periodic Benefit Cost / (Income) | Pension | Postretirement | |||||||||||
Three months ended September 30, | Three months ended September 30, | ||||||||||||
$ in millions | 2013 | 2012 | 2013 | 2012 | |||||||||
Service cost | $ | 1.8 | $ | 1.5 | $ | - | $ | - | |||||
Interest cost | 3.8 | 4.3 | 0.2 | 0.2 | |||||||||
Expected return on plan assets (a) | -5.8 | -5.7 | - | -0.1 | |||||||||
Amortization of unrecognized: | |||||||||||||
Actuarial loss / (gain) | 1.3 | 1.3 | -0.1 | -0.1 | |||||||||
Prior service cost | 0.3 | 0.4 | - | - | |||||||||
Net periodic benefit cost before adjustments | 1.4 | 1.8 | 0.1 | - | |||||||||
Settlement cost (b) | - | 0.2 | - | - | |||||||||
Net periodic benefit cost | $ | 1.4 | $ | 2.0 | $ | 0.1 | $ | - | |||||
Net Periodic Benefit Cost / (Income) | Pension | Postretirement | |||||||||||
Nine months ended September 30, | Nine months ended September 30, | ||||||||||||
$ in millions | 2013 | 2012 | 2013 | 2012 | |||||||||
Service cost | $ | 5.4 | $ | 4.6 | $ | 0.1 | $ | 0.1 | |||||
Interest cost | 11.6 | 12.9 | 0.6 | 0.6 | |||||||||
Expected return on plan assets (a) | -17.6 | -17 | -0.2 | -0.2 | |||||||||
Amortization of unrecognized: | |||||||||||||
Actuarial loss / (gain) | 3.7 | 3.7 | -0.3 | -0.5 | |||||||||
Prior service cost | 1.1 | 1.1 | - | - | |||||||||
Net periodic benefit cost before adjustments | 4.2 | 5.3 | 0.2 | - | |||||||||
Settlement cost (b) | - | 0.2 | - | - | |||||||||
Net periodic benefit cost | $ | 4.2 | $ | 5.5 | $ | 0.2 | $ | - | |||||
(a) For purposes of calculating the expected return on pension plan assets, under GAAP, the market-related value of assets (MRVA) is used. GAAP requires that the difference between actual plan asset returns and estimated plan asset returns be included in the MRVA equally over a period not to exceed five years. We use a methodology under which we include the difference between actual and estimated asset returns in the MRVA equally over a three year period. The MRVA used in the calculation of expected return on pension plan assets for the 2013 and 2012 net periodic benefit cost was approximately $346.0 million and $336.0 million, respectively. | |||||||||||||
(b) The settlement cost relates to a former officer who has elected to receive a lump sum distribution in 2012 from the Supplemental Executive Retirement Plan. | |||||||||||||
Benefit payments and Medicare Part D reimbursements, which reflect future service, are estimated to be paid as follows: | |||||||||||||
$ in millions | Pension | Postretirement | |||||||||||
2013 | $ | 5.5 | $ | 0.6 | |||||||||
2014 | 22.5 | 2.2 | |||||||||||
2015 | 23.0 | 2.0 | |||||||||||
2016 | 23.3 | 1.9 | |||||||||||
2017 | 23.7 | 1.7 | |||||||||||
2018 - 2022 | 122.6 | 6.8 | |||||||||||
DP&L [Member] | ' | ||||||||||||
Pension and Postretirement Benefits | ' | ||||||||||||
7. Pension and Postretirement Benefits | |||||||||||||
DP&L sponsors a defined benefit pension plan for the vast majority of its employees. | |||||||||||||
We generally fund pension plan benefits as accrued in accordance with the minimum funding requirements of the Employee Retirement Income Security Act of 1974 (ERISA) and, in addition, make voluntary contributions from time to time. There were no contributions made during the three and nine months ended September 30, 2013 or 2012. | |||||||||||||
The amounts presented in the following tables for pension include the collective bargaining plan formula, the traditional management plan formula, the cash balance plan formula and the SERP, in the aggregate. The amounts presented for postretirement include both health and life insurance. | |||||||||||||
The net periodic benefit cost (income) of the pension and postretirement benefit plans for the three and nine months ended September 30, 2013 and 2012 was: | |||||||||||||
Net Periodic Benefit Cost / (Income) | Pension | Postretirement | |||||||||||
Three months ended September 30, | Three months ended September 30, | ||||||||||||
$ in millions | 2013 | 2012 | 2013 | 2012 | |||||||||
Service cost | $ | 1.8 | $ | 1.5 | $ | - | $ | - | |||||
Interest cost | 3.8 | 4.3 | 0.2 | 0.2 | |||||||||
Expected return on plan assets (a) | -5.8 | -5.7 | -0.1 | -0.1 | |||||||||
Amortization of unrecognized: | |||||||||||||
Actuarial loss / (gain) | 2.3 | 2.4 | -0.2 | -0.2 | |||||||||
Prior service cost | 0.7 | 0.7 | 0.1 | 0.1 | |||||||||
Net periodic benefit cost before adjustments | 2.8 | 3.2 | - | - | |||||||||
Settlement cost (b) | - | 0.5 | - | - | |||||||||
Net periodic benefit cost | $ | 2.8 | $ | 3.7 | $ | - | $ | - | |||||
Net Periodic Benefit Cost / (Income) | Pension | Postretirement | |||||||||||
Nine months ended September 30, | Nine months ended September 30, | ||||||||||||
$ in millions | 2013 | 2012 | 2013 | 2012 | |||||||||
Service cost | $ | 5.4 | $ | 4.6 | $ | 0.1 | $ | 0.1 | |||||
Interest cost | 11.6 | 12.9 | 0.6 | 0.6 | |||||||||
Expected return on plan assets (a) | -17.6 | -17 | -0.2 | -0.2 | |||||||||
Amortization of unrecognized: | |||||||||||||
Actuarial loss / (gain) | 6.9 | 7.1 | -0.5 | -0.7 | |||||||||
Prior service cost | 2.1 | 2.2 | 0.1 | 0.1 | |||||||||
Net periodic benefit cost / (income) before adjustments | 8.4 | 9.8 | 0.1 | -0.1 | |||||||||
Settlement cost (b) | - | 0.5 | - | - | |||||||||
Net periodic benefit cost / (income) | $ | 8.4 | $ | 10.3 | $ | 0.1 | $ | -0.1 | |||||
(a) For purposes of calculating the expected return on pension plan assets, under GAAP, the market-related value of assets (MRVA) is used. GAAP requires that the difference between actual plan asset returns and estimated plan asset returns be included in the MRVA equally over a period not to exceed five years. We use a methodology under which we include the difference between actual and estimated asset returns in the MRVA equally over a three year period. The MRVA used in the calculation of expected return on pension plan assets for the three and nine months ended September 30, 2013 and 2012 net periodic benefit cost was approximately $346.0 million and $335.0 million, respectively. | |||||||||||||
(b) The settlement cost relates to a former officer who has elected to receive a lump sum distribution in 2012 from the Supplemental Executive Retirement Plan. | |||||||||||||
Benefit payments and Medicare Part D reimbursements, which reflect future service, are estimated to be paid as follows: | |||||||||||||
$ in millions | Pension | Postretirement | |||||||||||
2013 | $ | 5.5 | $ | 0.6 | |||||||||
2014 | 22.5 | 2.2 | |||||||||||
2015 | 23.0 | 2.0 | |||||||||||
2016 | 23.3 | 1.9 | |||||||||||
2017 | 23.7 | 1.7 | |||||||||||
2018 - 2022 | 122.6 | 6.8 | |||||||||||
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
8. Fair Value Measurements | ||||||||||||||||
The fair values of our financial instruments are based on published sources for pricing when possible. We rely on valuation models only when no other methods exist. The value of our financial instruments represents our best estimates of the fair value, which may not be the value realized in the future. | ||||||||||||||||
The following table presents the fair value and cost of our non-derivative instruments at September 30, 2013 and December 31, 2012. See also Note 9 for the fair values of our derivative instruments. | ||||||||||||||||
September 30, | December 31, | |||||||||||||||
2013 | 2012 | |||||||||||||||
$ in millions | Cost | Fair Value | Cost | Fair Value | ||||||||||||
Assets | ||||||||||||||||
Money Market Funds | $ | 0.1 | $ | 0.1 | $ | 0.2 | $ | 0.2 | ||||||||
Equity Securities | 3.5 | 4.4 | 4.0 | 5.1 | ||||||||||||
Debt Securities | 5.8 | 5.8 | 4.6 | 5.0 | ||||||||||||
Multi-Strategy Fund | - | - | 0.3 | 0.3 | ||||||||||||
Hedge Funds | 0.9 | 0.9 | - | - | ||||||||||||
Real Estate | 0.4 | 0.4 | - | - | ||||||||||||
Total Assets | $ | 10.7 | $ | 11.6 | $ | 9.1 | $ | 10.6 | ||||||||
Liabilities | ||||||||||||||||
Debt | $ | 2,814.5 | $ | 2,855.3 | $ | 2,609.9 | $ | 2,707.1 | ||||||||
These financial instruments are not subject to master netting agreements or collateral requirements and as such are presented in the Condensed Consolidated Balance Sheet at their gross fair value, except for Debt which is presented at amortized cost. | ||||||||||||||||
Debt | ||||||||||||||||
The carrying value of DPL’s debt was adjusted to fair value at the Merger date. Unrealized gains or losses are not recognized in the financial statements because debt is presented at the value established at the Merger date, less amortized premium or discount. The debt amounts include the current portion payable in the next twelve months and have maturities that range from 2013 to 2061. | ||||||||||||||||
Master Trust Assets | ||||||||||||||||
DP&L established Master Trusts to hold assets that could be used for the benefit of employees participating in employee benefit plans. These assets are primarily comprised of open-ended mutual funds which are valued using the net asset value per unit. These investments are recorded at fair value within Other deferred assets on the balance sheets and classified as available for sale. Any unrealized gains or losses are recorded in AOCI until the securities are sold. | ||||||||||||||||
DPL had $0.7 million ($0.5 million after tax) of unrealized gains and immaterial unrealized losses on the Master Trust assets in AOCI at September 30, 2013 and $0.7 million ($0.5 million after tax) of unrealized gains and immaterial unrealized losses in AOCI at December 31, 2012. | ||||||||||||||||
During the nine months ended September 30, 2013, $2.1 million ($1.4 million after tax) of various investments were sold to facilitate the distribution of benefits and the unrealized gains were reversed into earnings. $0.1 million ($0.1 million after tax) of unrealized gains are expected to be reversed to earnings over the next twelve months. | ||||||||||||||||
Net Asset Value (NAV) per Unit | ||||||||||||||||
The following table discloses the fair value and redemption frequency for those assets whose fair value is estimated using the NAV per unit as of September 30, 2013 and December 31, 2012. These assets are part of the Master Trusts. Fair values estimated using the NAV per unit are considered Level 2 inputs within the fair value hierarchy, unless they cannot be redeemed at the NAV per unit on the reporting date. Investments that have restrictions on the redemption of the investments are Level 3 inputs. As of September 30, 2013, DPL did not have any investments for sale at a price different from the NAV per unit. | ||||||||||||||||
Fair Value Estimated Using Net Asset Value per Unit | ||||||||||||||||
$ in millions | Fair Value at September 30, 2013 | Fair Value at December 31, 2012 | Unfunded Commitments | Redemption Frequency | ||||||||||||
Money Market Fund (a) | $ | 0.1 | $ | 0.2 | $ | - | Immediate | |||||||||
Equity Securities (b) | 4.4 | 5.1 | - | Immediate | ||||||||||||
Debt Securities (c) | 5.8 | 5.0 | - | Immediate | ||||||||||||
Multi-Strategy Fund (d) | - | 0.3 | - | Immediate | ||||||||||||
Hedge Funds (e) | 0.9 | - | - | Immediate | ||||||||||||
Real Estate (f) | 0.4 | - | - | Immediate | ||||||||||||
Total | $ | 11.6 | $ | 10.6 | $ | - | ||||||||||
(a) This category includes investments in high-quality, short-term securities. Investments in this category can be redeemed immediately at the current NAV. | ||||||||||||||||
(b) This category includes investments in hedge funds representing an S&P 500 Index and the Morgan Stanley Capital International U.S. Small Cap 1750 Index. Investments in this category can be redeemed immediately at the current NAV per unit. | ||||||||||||||||
(c) This category includes investments in U.S. Treasury obligations and U.S. investment grade bonds. Investments in this category can be redeemed immediately at the current NAV per unit. | ||||||||||||||||
(d) This category includes investments in stocks, bonds and short-term investments in a mix of actively managed funds. Investments in this category can be redeemed immediately at the current NAV per unit. | ||||||||||||||||
(e)This category includes hedge funds investing in fixed income securities and currencies, short and long-term equity investments, and a diversified fund with investments in bonds, stocks, real estate and commodities. | ||||||||||||||||
(f)This category includes EFT real estate funds that invest in U.S. and International properties. | ||||||||||||||||
Fair Value Hierarchy | ||||||||||||||||
Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. These inputs are then categorized as Level 1 (quoted prices in active markets for identical assets or liabilities); Level 2 (observable inputs such as quoted prices for similar assets or liabilities or quoted prices in markets that are not active); or Level 3 (unobservable inputs). | ||||||||||||||||
Valuations of assets and liabilities reflect the value of the instrument including the values associated with counterparty risk. We include our own credit risk and our counterparty’s credit risk in our calculation of fair value using global average default rates based on an annual study conducted by a large rating agency. | ||||||||||||||||
The fair value of assets and liabilities at September 30, 2013 and December 31, 2012 measured on a recurring basis and the respective category within the fair value hierarchy for DPL was determined as follows: | ||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||
$ in millions | Fair Value at September 30, 2013 | Based on Quoted Prices in Active Markets | Other Observable Inputs | Unobservable Inputs | ||||||||||||
Assets | ||||||||||||||||
Master Trust Assets | ||||||||||||||||
Money Market Funds | $ | 0.1 | $ | 0.1 | $ | - | $ | - | ||||||||
Equity Securities | 4.4 | - | 4.4 | - | ||||||||||||
Debt Securities | 5.8 | - | 5.8 | - | ||||||||||||
Hedge Funds | 0.9 | - | 0.9 | - | ||||||||||||
Real Estate | 0.4 | - | 0.4 | - | ||||||||||||
Total Master Trust Assets | 11.6 | 0.1 | 11.5 | - | ||||||||||||
Derivative Assets | ||||||||||||||||
FTRs | 0.4 | - | - | 0.4 | ||||||||||||
Heating Oil | 0.1 | 0.1 | - | - | ||||||||||||
Forward Power Contracts | 21.1 | - | 21.1 | - | ||||||||||||
Total Derivative Assets | 21.6 | 0.1 | 21.1 | 0.4 | ||||||||||||
Total Assets | $ | 33.2 | $ | 0.2 | $ | 32.6 | $ | 0.4 | ||||||||
Liabilities | ||||||||||||||||
Derivative Liabilities | ||||||||||||||||
Forward Power Contracts | $ | 10.3 | $ | - | $ | 10.3 | $ | - | ||||||||
Total Derivative Liabilities | 10.3 | - | 10.3 | - | ||||||||||||
Long-term Debt | 2,855.3 | - | 2,836.7 | 18.6 | ||||||||||||
Total Liabilities | $ | 2,865.6 | $ | - | $ | 2,847.0 | $ | 18.6 | ||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||
$ in millions | Fair Value at December 31, 2012 | Based on Quoted Prices in Active Markets | Other Observable Inputs | Unobservable Inputs | ||||||||||||
Assets | ||||||||||||||||
Master Trust Assets | ||||||||||||||||
Money Market Funds | $ | 0.2 | $ | 0.2 | $ | - | $ | - | ||||||||
Equity Securities | 5.1 | - | 5.1 | - | ||||||||||||
Debt Securities | 5.0 | - | 5.0 | - | ||||||||||||
Multi-Strategy Fund | 0.3 | - | 0.3 | - | ||||||||||||
Total Master Trust Assets | 10.6 | 0.2 | 10.4 | - | ||||||||||||
Derivative Assets | ||||||||||||||||
Heating Oil Futures | 0.2 | 0.2 | - | - | ||||||||||||
Forward Power Contracts | 6.3 | - | 6.3 | - | ||||||||||||
Total Derivative Assets | 6.5 | 0.2 | 6.3 | - | ||||||||||||
Total Assets | $ | 17.1 | $ | 0.4 | $ | 16.7 | $ | - | ||||||||
Liabilities | ||||||||||||||||
Derivative Liabilities | ||||||||||||||||
FTRs | $ | 0.1 | $ | - | $ | - | $ | 0.1 | ||||||||
Interest Rate Hedge | 29.5 | - | 29.5 | - | ||||||||||||
Forward Power Contracts | 13.1 | - | 13.1 | - | ||||||||||||
Total Derivative Liabilities | 42.7 | - | 42.6 | 0.1 | ||||||||||||
Long-term debt | 2,707.1 | - | 2,688.2 | 18.9 | ||||||||||||
Total Liabilities | $ | 2,749.8 | $ | - | $ | 2,730.8 | $ | 19.0 | ||||||||
We use the market approach to value our financial instruments. Level 1 inputs are used for derivative contracts such as heating oil futures and for money market accounts that are considered cash equivalents. The fair value is determined by reference to quoted market prices and other relevant information generated by market transactions. Level 2 inputs are used to value derivatives such as forward power contracts and forward NYMEX-quality coal contracts (which are traded on the OTC market but which are valued using prices on the NYMEX for similar contracts on the OTC market). Other Level 2 assets include: open-ended mutual funds that are in the Master Trust, which are valued using the end of day NAV per unit; and interest rate hedges, which use observable inputs to populate a pricing model. Financial transmission rights are considered a Level 3 input because the monthly auctions are considered inactive. | ||||||||||||||||
Our Level 3 inputs are immaterial to our derivative balances as a whole and as such no further disclosures are presented. | ||||||||||||||||
Our debt is fair valued for disclosure purposes only and most of the fair values are determined using quoted market prices in inactive markets. These fair value inputs are considered Level 2 in the fair value hierarchy. Our long-term leases and the Wright-Patterson Air Force Base loan are not publicly traded. Fair value is assumed to equal carrying value. These fair value inputs are considered Level 3 in the fair value hierarchy as there are no observable inputs. Additional Level 3 disclosures are not presented since debt is not recorded at fair value. | ||||||||||||||||
Approximately 96% of the inputs to the fair value of our derivative instruments are from quoted market prices. | ||||||||||||||||
Non-recurring Fair Value Measurements | ||||||||||||||||
We use the cost approach to determine the fair value of our AROs which are estimated by discounting expected cash outflows to their present value at the initial recording of the liability. Cash outflows are based on the approximate future disposal cost as determined by market information, historical information or other management estimates. These inputs to the fair value of the AROs would be considered Level 3 inputs under the fair value hierarchy. Additions to AROs were not material during the nine months ended September 30, 2013 and 2012. | ||||||||||||||||
Cash Equivalents | ||||||||||||||||
DPL had $35.0 million and $130.0 million in money market funds classified as cash and cash equivalents in its Condensed Consolidated Balance Sheets at September 30, 2013 and December 31, 2012, respectively. The money market funds have quoted prices that are generally equivalent to par and are considered Level 1. | ||||||||||||||||
DP&L [Member] | ' | |||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
8. Fair Value Measurements | ||||||||||||||||
The fair values of our financial instruments are based on published sources for pricing when possible. We rely on valuation models only when no other method is available to us. The value of our financial instruments represents our best estimates of fair value, which may not be the value realized in the future. The following table presents the fair value and cost of our non-derivative instruments at September 30, 2013 and December 31, 2012. See also Note 9 for the fair values of our derivative instruments. | ||||||||||||||||
September 30, | December 31, | |||||||||||||||
2013 | 2012 | |||||||||||||||
$ in millions | Cost | Fair Value | Cost | Fair Value | ||||||||||||
Assets | ||||||||||||||||
Money market funds | $ | 0.1 | $ | 0.1 | $ | 0.2 | $ | 0.2 | ||||||||
Equity securities | 3.5 | 4.4 | 4.0 | 5.1 | ||||||||||||
Debt securities | 5.8 | 5.8 | 4.6 | 5.0 | ||||||||||||
Multi-strategy fund | - | - | 0.3 | 0.3 | ||||||||||||
Hedge funds | 0.9 | 0.9 | - | - | ||||||||||||
Real estate | 0.4 | 0.4 | - | - | ||||||||||||
Total assets | $ | 10.7 | $ | 11.6 | $ | 9.1 | $ | 10.6 | ||||||||
Liabilities | ||||||||||||||||
Debt | $ | 1,347.2 | $ | 1,330.8 | $ | 903.1 | $ | 926.9 | ||||||||
These financial instruments are not subject to master netting agreements or collateral requirements and as such are presented in the Condensed Consolidated Balance Sheet at their gross fair value, except for Debt which is presented at amortized cost. | ||||||||||||||||
Debt | ||||||||||||||||
The fair value of debt is based on current public market prices for disclosure purposes only. Unrealized gains or losses are not recognized in the financial statements because debt is presented at amortized cost in the financial statements. The debt amounts include the current portion payable in the next twelve months and have maturities that range from 2013 to 2061. | ||||||||||||||||
Master Trust Assets | ||||||||||||||||
DP&L established Master Trusts to hold assets that could be used for the benefit of employees participating in employee benefit plans and these assets are not used for general operating purposes. These assets are primarily comprised of open-ended mutual funds which are valued using the net asset value per unit. These investments are recorded at fair value within Other deferred assets on the balance sheets and classified as available for sale. Any unrealized gains or losses are recorded in AOCI until the securities are sold. | ||||||||||||||||
DP&L had $1.0 million ($0.7 million after tax) in unrealized gains and immaterial unrealized losses on the Master Trust assets in AOCI at September 30, 2013 and $1.6 million ($1.0 million after tax) in unrealized gains and immaterial unrealized losses in AOCI at December 31, 2012. | ||||||||||||||||
During the nine months ended September 30, 2013, $2.1 million ($1.4 million after tax) of various investments were sold to facilitate the distribution of benefits and the unrealized gains were reversed into earnings. $0.1 million ($0.1 million after tax) of unrealized gains are expected to be reversed to earnings over the next twelve months. | ||||||||||||||||
Net Asset Value (NAV) per Unit | ||||||||||||||||
The following table discloses the fair value and redemption frequency for those assets whose fair value is estimated using the NAV per unit as of September 30, 2013. These assets are part of the Master Trusts. Fair values estimated using the NAV per unit are considered Level 2 inputs within the fair value hierarchy, unless they cannot be redeemed at the NAV per unit on the reporting date. Investments that have restrictions on the redemption of the investments are Level 3 inputs. At September 30, 2013, DP&L did not have any investments for sale at a price different from the NAV per unit. | ||||||||||||||||
Fair Value Estimated Using Net Asset Value per Unit | ||||||||||||||||
$ in millions | Fair Value at September 30, 2013 | Fair Value at December 31, 2012 | Unfunded Commitments | Redemption Frequency | ||||||||||||
Money market fund (a) | $ | 0.1 | $ | 0.2 | $ | - | Immediate | |||||||||
Equity securities (b) | 4.4 | 5.1 | - | Immediate | ||||||||||||
Debt securities (c) | 5.8 | 5.0 | - | Immediate | ||||||||||||
Multi-strategy fund (d) | - | 0.3 | - | Immediate | ||||||||||||
Hedge funds (e) | 0.9 | - | - | Immediate | ||||||||||||
Real estate (f) | 0.4 | - | - | Immediate | ||||||||||||
Total | $ | 11.6 | $ | 10.6 | $ | - | ||||||||||
(a)This category includes investments in high-quality, short-term securities. Investments in this category can be redeemed immediately at the current NAV. | ||||||||||||||||
(b)This category includes investments in hedge funds representing an S&P 500 Index and the Morgan Stanley Capital International U.S. Small Cap 1750 Index. Investments in this category can be redeemed immediately at the current NAV per unit. | ||||||||||||||||
(c)This category includes investments in U.S. Treasury obligations and U.S. investment grade bonds. Investments in this category can be redeemed immediately at the current NAV per unit. | ||||||||||||||||
(d)This category includes investments in stocks, bonds and short-term investments in a mix of actively managed funds. Investments in this category can be redeemed immediately at the current NAV per unit. | ||||||||||||||||
(e)This category includes hedge funds investing in fixed income securities and currencies, short and long-term equity investments, and a diversified fund with investments in bonds, stocks, real estate and commodities. | ||||||||||||||||
(f)This category includes EFT real estate funds that invest in U.S. and International properties. | ||||||||||||||||
Fair Value Hierarchy | ||||||||||||||||
Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. These inputs are then categorized as Level 1 (quoted prices in active markets for identical assets or liabilities); Level 2 (observable inputs such as quoted prices for similar assets or liabilities or quoted prices in markets that are not active); or Level 3 (unobservable inputs). | ||||||||||||||||
Valuations of assets and liabilities reflect the value of the instrument including the values associated with counterparty risk. We include our own credit risk and our counterparty’s credit risk in our calculation of fair value using global average default rates based on an annual study conducted by a large rating agency. | ||||||||||||||||
The fair value of assets and liabilities at September 30, 2013 and December 31, 2012 measured on a recurring basis and the respective category within the fair value hierarchy for DP&L was determined as follows: | ||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||
$ in millions | Fair Value at September 30, 2013 | Based on Quoted Prices in Active Markets | Other Observable Inputs | Unobservable Inputs | ||||||||||||
Assets | ||||||||||||||||
Master trust assets | ||||||||||||||||
Money market funds | $ | 0.1 | $ | 0.1 | $ | - | $ | - | ||||||||
Equity securities | 4.4 | - | 4.4 | - | ||||||||||||
Debt securities | 5.8 | - | 5.8 | - | ||||||||||||
Hedge funds | 0.9 | - | 0.9 | - | ||||||||||||
Real estate | 0.4 | - | 0.4 | - | ||||||||||||
Total Master trust assets | 11.6 | 0.1 | 11.5 | - | ||||||||||||
Derivative assets | ||||||||||||||||
FTRs | 0.4 | - | - | 0.4 | ||||||||||||
Heating Oil | 0.1 | 0.1 | - | - | ||||||||||||
Forward power contracts | 21.2 | - | 21.2 | - | ||||||||||||
Total derivative assets | 21.7 | 0.1 | 21.2 | 0.4 | ||||||||||||
Total assets | $ | 33.3 | $ | 0.2 | $ | 32.7 | $ | 0.4 | ||||||||
Liabilities | ||||||||||||||||
Derivative liabilities | ||||||||||||||||
Forward power contracts | 10.1 | - | 10.1 | - | ||||||||||||
Total derivative liabilities | 10.1 | - | 10.1 | - | ||||||||||||
Long-term debt | 1,330.8 | - | 1,312.2 | 18.6 | ||||||||||||
Total liabilities | $ | 1,340.9 | $ | - | $ | 1,322.3 | $ | 18.6 | ||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||
$ in millions | Fair Value at December 31, 2012 | Based on Quoted Prices in Active Markets | Other Observable Inputs | Unobservable Inputs | ||||||||||||
Assets | ||||||||||||||||
Master trust assets | ||||||||||||||||
Money market funds | $ | 0.2 | $ | 0.2 | $ | - | $ | - | ||||||||
Equity securities | 5.1 | - | 5.1 | - | ||||||||||||
Debt securities | 5.0 | - | 5.0 | - | ||||||||||||
Multi-strategy fund | 0.3 | - | 0.3 | - | ||||||||||||
Total Master trust assets | 10.6 | 0.2 | 10.4 | - | ||||||||||||
Derivative assets | ||||||||||||||||
Heating oil futures | 0.2 | 0.2 | - | - | ||||||||||||
Forward power contracts | 7.3 | - | 7.3 | - | ||||||||||||
Total Derivative assets | 7.5 | 0.2 | 7.3 | - | ||||||||||||
Total assets | $ | 18.1 | $ | 0.4 | $ | 17.7 | $ | - | ||||||||
Liabilities | ||||||||||||||||
Derivative liabilities | ||||||||||||||||
FTRs | $ | 0.1 | $ | - | $ | - | $ | 0.1 | ||||||||
Forward power contracts | 11.6 | - | 11.6 | - | ||||||||||||
Total Derivative liabilities | 11.7 | - | 11.6 | 0.1 | ||||||||||||
Long-term debt | 926.9 | - | 908.0 | 18.9 | ||||||||||||
Total liabilities | $ | 938.6 | $ | - | $ | 919.6 | $ | 19.0 | ||||||||
We use the market approach to value our financial instruments. Level 1 inputs are used for derivative contracts such as heating oil futures and for money market accounts that are considered cash equivalents. The fair value is determined by reference to quoted market prices and other relevant information generated by market transactions. Level 2 inputs are used to value derivatives such as forward power contracts and forward NYMEX-quality coal contracts (which are traded on the OTC market but which are valued using prices on the NYMEX for similar contracts on the OTC market). Other Level 2 assets include: open-ended mutual funds that are in the Master Trust, which are valued using the end of day NAV per unit; and interest rate hedges, which use observable inputs to populate a pricing model. Financial transmission rights are considered a Level 3 input because the monthly auctions are considered inactive. | ||||||||||||||||
Our Level 3 inputs are immaterial to our derivative balances as a whole and as such no further disclosures are presented. | ||||||||||||||||
Our debt is fair valued for disclosure purposes only and most of the fair values are determined using quoted market prices in inactive markets. These fair value inputs are considered Level 2 in the fair value hierarchy. Our long-term leases and the Wright-Patterson Air Force Base loan are not publicly traded. Fair value is assumed to equal carrying value. These fair value inputs are considered Level 3 in the fair value hierarchy as there are no observable inputs. Additional Level 3 disclosures were not presented since debt is not recorded at fair value. | ||||||||||||||||
Approximately 96% of the inputs to the fair value of our derivative instruments are from quoted market prices for DP&L. | ||||||||||||||||
Non-recurring Fair Value Measurements | ||||||||||||||||
We use the cost approach to determine the fair value of our AROs which are estimated by discounting expected cash outflows to their present value at the initial recording of the liability. Cash outflows are based on the approximate future disposal cost as determined by market information, historical information or other management estimates. These inputs to the fair value of the AROs would be considered Level 3 inputs under the fair value hierarchy. Additions to AROs were not material during the three and nine months ended September 30, 2013 and 2012. | ||||||||||||||||
Derivative_Instruments_and_Hed
Derivative Instruments and Hedging Activities | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Derivative Instruments and Hedging Activities | ' | |||||||||||||||
9. Derivative Instruments and Hedging Activities | ||||||||||||||||
In the normal course of business, DPL enters into various financial instruments, including derivative financial instruments. We use derivatives principally to manage the risk of changes in market prices for commodities and interest rate risk associated with our long-term debt. The derivatives that we use to economically hedge these risks are governed by our risk management policies for forward and futures contracts. Our net positions are continually assessed within our structured hedging programs to determine whether new or offsetting transactions are required. The objective of the hedging program is to mitigate financial risks while ensuring that we have adequate resources to meet our requirements. We monitor and value derivative positions monthly as part of our risk management processes. We use published sources for pricing, when possible, to mark positions to market. All of our derivative instruments are used for risk management purposes and are designated as cash flow hedges or marked to market each reporting period. | ||||||||||||||||
At September 30, 2013, DPL had the following outstanding derivative instruments: | ||||||||||||||||
Commodity | Accounting Treatment | Unit | Purchases | Sales | Net Purchases/ (Sales) | |||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||
FTRs | Mark to Market | MWh | 10.7 | - | 10.7 | |||||||||||
Heating oil futures | Mark to Market | Gallons | 1,638.0 | - | 1,638.0 | |||||||||||
Forward power contracts | Cash Flow Hedge | MWh | 421.6 | -4,719.40 | -4,297.80 | |||||||||||
Forward power contracts | Mark to Market | MWh | 2,653.3 | -7,012.50 | -4,359.20 | |||||||||||
At December 31, 2012, DPL had the following outstanding derivative instruments: | ||||||||||||||||
Commodity | Accounting Treatment | Unit | Purchases | Sales | Net Purchases/ (Sales) | |||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||
FTRs | Mark to Market | MWh | 6.9 | - | 6.9 | |||||||||||
Heating oil futures | Mark to Market | Gallons | 1,764.0 | - | 1,764.0 | |||||||||||
Forward power contracts | Cash Flow Hedge | MWh | 1,021.0 | -2,197.90 | -1,176.90 | |||||||||||
Forward power contracts | Mark to Market | MWh | 2,510.7 | -4,760.40 | -2,249.70 | |||||||||||
Interest rate swaps | Cash Flow Hedge | USD | $ | 160,000.0 | $ | - | $ | 160,000.0 | ||||||||
Cash Flow Hedges | ||||||||||||||||
As part of our risk management processes, we identify the relationships between hedging instruments and hedged items, as well as the risk management objective and strategy for undertaking various hedge transactions. The fair value of cash flow hedges is determined by observable market prices available as of the balance sheet dates and will continue to fluctuate with changes in market prices up to contract expiration. The effective portion of the hedging transaction is recognized in AOCI and transferred to earnings using specific identification of each contract when the forecasted hedged transaction takes place or when the forecasted hedged transaction is probable of not occurring. The ineffective portion of the cash flow hedge is recognized in earnings in the current period. All risk components were taken into account to determine the hedge effectiveness of the cash flow hedges. | ||||||||||||||||
We enter into forward power contracts to manage commodity price risk exposure related to our generation of electricity. We do not hedge all commodity price risk. We reclassify gains and losses on forward power contracts from AOCI into earnings in those periods in which the contracts settle. | ||||||||||||||||
We also entered into interest rate derivative contracts to manage interest rate exposure related to anticipated borrowings of fixed-rate debt. These interest rate derivative contracts were settled in the third quarter of 2013. We do not hedge all interest rate exposure. We reclassify gains and losses on interest rate derivative hedges out of AOCI and into earnings in those periods in which hedged interest payments occur. | ||||||||||||||||
The following tables provide information for DPL concerning gains or losses recognized in AOCI for the cash flow hedges for the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||
Three months ended | Three months ended | |||||||||||||||
30-Sep-13 | 30-Sep-12 | |||||||||||||||
Interest | Interest | |||||||||||||||
$ in millions (net of tax) | Power | Rate Hedge | Power | Rate Hedge | ||||||||||||
Beginning accumulated derivative gain / (loss) in AOCI | $ | -1.1 | $ | 12.8 | $ | -2.4 | $ | -4.7 | ||||||||
Net gains / (losses) associated with current period hedging transactions | -0.2 | 6.4 | -2.2 | 2.5 | ||||||||||||
Net gains / (losses) reclassified to earnings | ||||||||||||||||
Revenues | 0.3 | - | -0.1 | - | ||||||||||||
Purchased power | 1.0 | - | 0.1 | - | ||||||||||||
Ending accumulated derivative gain / (loss) in AOCI | $ | - | $ | 19.2 | $ | -4.6 | $ | -2.2 | ||||||||
Net gains / (losses) associated with the ineffective portion of the hedging transaction are presented in the following lines of the Condensed Consolidated Statements of Results of Operations: | ||||||||||||||||
Interest expense | $ | - | $ | -0.5 | $ | - | $ | - | ||||||||
Portion expected to be reclassified to earnings in the next twelve months (a) | $ | -2.9 | $ | -1 | ||||||||||||
Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) | 39 | 0 | ||||||||||||||
(a) The actual amounts that we reclassify from AOCI to earnings related to power can differ from the estimate above due to market price changes. | ||||||||||||||||
Nine months ended | Nine months ended | |||||||||||||||
30-Sep-13 | 30-Sep-12 | |||||||||||||||
Interest | Interest | |||||||||||||||
$ in millions (net of tax) | Power | Rate Hedge | Power | Rate Hedge | ||||||||||||
Beginning accumulated derivative gain / (loss) in AOCI | $ | -3 | $ | 0.5 | $ | 0.3 | $ | -0.8 | ||||||||
Net gains / (losses) associated with current period hedging transactions | - | 18.7 | -3.8 | -1.7 | ||||||||||||
Net gains / (losses) reclassified to earnings | ||||||||||||||||
Interest expense | - | - | - | 0.3 | ||||||||||||
Revenues | 1.3 | - | -0.1 | - | ||||||||||||
Purchased power | 1.7 | - | -1 | - | ||||||||||||
Ending accumulated derivative gain / (loss) in AOCI | $ | - | $ | 19.2 | $ | -4.6 | $ | -2.2 | ||||||||
Net gains / (losses) associated with the ineffective portion of the hedging transaction are presented in the following lines of the Condensed Consolidated Statements of Results of Operations: | ||||||||||||||||
Interest expense | $ | - | $ | 0.8 | $ | - | $ | - | ||||||||
Portion expected to be reclassified to earnings in the next twelve months (a) | $ | -2.9 | $ | -1 | ||||||||||||
Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) | 39 | 0 | ||||||||||||||
(a) The actual amounts that we reclassify from AOCI to earnings related to power can differ from the estimate above due to market price changes. | ||||||||||||||||
Mark to Market Accounting | ||||||||||||||||
Certain derivative contracts are entered into on a regular basis as part of our risk management program but do not qualify for hedge accounting or the normal purchase and sales exceptions under FASC Topic 815. Accordingly, such contracts are recorded at fair value with changes in the fair value charged or credited to the Condensed Consolidated Statements of Results of Operations in the period in which the change occurred. This is commonly referred to as “MTM accounting.” Contracts we enter into as part of our risk management program may be settled financially, by physical delivery or net settled with the counterparty. FTRs, heating oil futures, forward NYMEX-quality coal contracts and certain forward power contracts are currently marked to market. | ||||||||||||||||
Certain qualifying derivative instruments have been designated as normal purchases or normal sales contracts, as provided under GAAP. Derivative contracts that have been designated as normal purchases or normal sales under GAAP are not subject to MTM accounting and are recognized in the Condensed Consolidated Statements of Results of Operations on an accrual basis. | ||||||||||||||||
Regulatory Assets and Liabilities | ||||||||||||||||
In accordance with regulatory accounting under GAAP, a cost or loss that is probable of recovery in future rates should be deferred as a regulatory asset and revenue or a gain that is probable of being returned to customers should be deferred as a regulatory liability. Portions of the derivative contracts that are marked to market each reporting period and are related to the retail portion of DP&L’s load requirements are included as part of the fuel and purchased power recovery rider approved by the PUCO which began January 1, 2010. Therefore, the Ohio retail customers’ portion of the heating oil futures and the NYMEX-quality coal contracts are deferred as a regulatory asset or liability until the contracts settle. If these unrealized gains and losses are no longer deemed to be probable of recovery through our rates, they will be reclassified into earnings in the period such determination is made. | ||||||||||||||||
The following tables show the amount and classification within the Condensed Consolidated Statements of Results of Operations or Condensed Consolidated Balance Sheets of the gains and losses on DPL’s derivatives not designated as hedging instruments for the three and nine months ended September 30, 2013 and 2012. | ||||||||||||||||
For the three months ended September 30, 2013 | ||||||||||||||||
$ in millions | Heating Oil | FTRs | Power | Total | ||||||||||||
Change in unrealized gain | $ | 0.1 | $ | 1.3 | $ | 0.1 | $ | 1.5 | ||||||||
Realized gain / (loss) | 0.1 | - | -0.8 | -0.7 | ||||||||||||
Total | $ | 0.2 | $ | 1.3 | $ | -0.7 | $ | 0.8 | ||||||||
Recorded in Income Statement: gain / (loss) | ||||||||||||||||
Revenues | $ | - | $ | - | $ | - | $ | - | ||||||||
Purchased power | - | 1.3 | -0.7 | 0.6 | ||||||||||||
Fuel | 0.1 | - | - | 0.1 | ||||||||||||
O&M | 0.1 | - | - | 0.1 | ||||||||||||
Total | $ | 0.2 | $ | 1.3 | $ | -0.7 | $ | 0.8 | ||||||||
For the three months ended September 30, 2012 | ||||||||||||||||
NYMEX | ||||||||||||||||
$ in millions | Coal | Heating Oil | FTRs | Power | Total | |||||||||||
Change in unrealized gain / (loss) | $ | 15.5 | $ | - | $ | 0.1 | $ | -2.9 | $ | 12.7 | ||||||
Realized gain / (loss) | -12.8 | 0.5 | 0.1 | 0.1 | -12.1 | |||||||||||
Total | $ | 2.7 | $ | 0.5 | $ | 0.2 | $ | -2.8 | $ | 0.6 | ||||||
Recorded on Balance Sheet: | ||||||||||||||||
Partners' share of gain / (loss) | $ | 4.7 | $ | - | $ | - | $ | - | $ | 4.7 | ||||||
Regulatory (asset) / liability | 1.2 | -0.1 | - | - | 1.1 | |||||||||||
Recorded in Income Statement: gain / (loss) | ||||||||||||||||
Revenues | - | - | - | -2.4 | -2.4 | |||||||||||
Purchased power | - | - | 0.2 | -0.4 | -0.2 | |||||||||||
Fuel | -3.2 | 0.5 | - | - | -2.7 | |||||||||||
O&M | - | 0.1 | - | - | 0.1 | |||||||||||
Total | $ | 2.7 | $ | 0.5 | $ | 0.2 | $ | -2.8 | $ | 0.6 | ||||||
For the nine months ended September 30, 2013 | ||||||||||||||||
$ in millions | Heating Oil | FTRs | Power | Total | ||||||||||||
Change in unrealized gain / (loss) | $ | -0.2 | $ | 0.4 | $ | 10.5 | $ | 10.7 | ||||||||
Realized gain / (loss) | - | 1.2 | 0.5 | 1.7 | ||||||||||||
Total | $ | -0.2 | $ | 1.6 | $ | 11.0 | $ | 12.4 | ||||||||
Recorded on Balance Sheet: | ||||||||||||||||
Regulatory (asset) / liability | $ | -0.1 | $ | - | $ | - | $ | -0.1 | ||||||||
Recorded in Income Statement: gain / (loss) | ||||||||||||||||
Purchased power | - | 1.6 | 11.0 | 12.6 | ||||||||||||
Fuel | -0.1 | - | - | -0.1 | ||||||||||||
O&M | - | - | - | - | ||||||||||||
Total | $ | -0.2 | $ | 1.6 | $ | 11.0 | $ | 12.4 | ||||||||
For the nine months ended September 30, 2012 | ||||||||||||||||
NYMEX | ||||||||||||||||
$ in millions | Coal | Heating Oil | FTRs | Power | Total | |||||||||||
Change in unrealized gain / (loss) | $ | 13.4 | $ | -1.5 | $ | -0.1 | $ | -0.6 | $ | 11.2 | ||||||
Realized gain / (loss) | -27.2 | 1.9 | 0.5 | -4.2 | -29 | |||||||||||
Total | $ | -13.8 | $ | 0.4 | $ | 0.4 | $ | -4.8 | $ | -17.8 | ||||||
Recorded on Balance Sheet: | ||||||||||||||||
Partners' share of gain / (loss) | $ | 3.5 | $ | - | $ | - | $ | - | $ | 3.5 | ||||||
Regulatory (asset) / liability | 0.9 | -0.6 | - | - | 0.3 | |||||||||||
Recorded in Income Statement: gain / (loss) | ||||||||||||||||
Revenues | - | - | - | -1.7 | -1.7 | |||||||||||
Purchased power | - | - | 0.4 | -3.1 | -2.7 | |||||||||||
Fuel | -18.2 | 0.8 | - | - | -17.4 | |||||||||||
O&M | - | 0.2 | - | - | 0.2 | |||||||||||
Total | $ | -13.8 | $ | 0.4 | $ | 0.4 | $ | -4.8 | $ | -17.8 | ||||||
DPL has elected not to offset derivative assets and liabilities and not to offset net derivative positions against the right to reclaim cash collateral pledged (an asset) or the obligation to return cash collateral received (a liability) under derivative agreements. | ||||||||||||||||
The following tables summarize the derivative positions presented in the balance sheet where a right of offset exists under these arrangements and related cash collateral received or pledged. | ||||||||||||||||
Fair Values of Derivative Instruments | ||||||||||||||||
at September 30, 2013 | ||||||||||||||||
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets | ||||||||||||||||
$ in millions | Hedging Designation | Gross Fair Value as presented in the Condensed Consolidated Balance Sheets | Financial Instruments with Same Counterparty in Offsetting Position | Cash Collateral | Net Amount | |||||||||||
Assets | ||||||||||||||||
Short-term derivative positions (presented in Other current assets) | ||||||||||||||||
Forward power contracts | Cash Flow | $ | 1.4 | $ | -1.1 | $ | - | $ | 0.3 | |||||||
Forward power contracts | MTM | 5.1 | -2.6 | - | 2.5 | |||||||||||
Heating oil | MTM | 0.1 | - | - | 0.1 | |||||||||||
FTRs | MTM | 0.4 | - | - | 0.4 | |||||||||||
Long-term derivative positions (presented in Other deferred assets) | ||||||||||||||||
Forward power contracts | Cash Flow | 1.9 | -0.5 | - | 1.4 | |||||||||||
Forward power contracts | MTM | 12.7 | -0.7 | - | 12.0 | |||||||||||
Total assets | $ | 21.6 | $ | -4.9 | $ | - | $ | 16.7 | ||||||||
Liabilities | ||||||||||||||||
Short-term derivative positions (presented in Other current liabilities) | ||||||||||||||||
Forward power contracts | Cash Flow | $ | 3.7 | $ | -1.1 | $ | -2.3 | $ | 0.3 | |||||||
Forward power contracts | MTM | 5.0 | -2.6 | -2.1 | 0.3 | |||||||||||
Long-term derivative positions (presented in Other deferred liabilities) | ||||||||||||||||
Forward power contracts | Cash Flow | 0.5 | -0.5 | - | - | |||||||||||
Forward power contracts | MTM | 1.1 | -0.7 | - | 0.4 | |||||||||||
Total liabilities | $ | 10.3 | $ | -4.9 | $ | -4.4 | $ | 1.0 | ||||||||
At September 30, 2013, the table above includes Forward power contracts in a short-term asset position of $6.5 million and a long-term asset position of $14.6 million. Forward power contracts with a value of $2.3 million have been omitted from the above table as they had been, but no longer need to be, accounted for as derivatives at fair value. These derivatives are being amortized to earnings over the remaining term of the associated forward contracts. | ||||||||||||||||
Fair Values of Derivative Instruments Not Designated as Hedging Instruments | ||||||||||||||||
at December 31, 2012 | ||||||||||||||||
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets | ||||||||||||||||
$ in millions | Hedging Designation | Gross Fair Value as presented in the Condensed Consolidated Balance Sheets | Financial Instruments with Same Counterparty in Offsetting Position | Cash Collateral | Net Amount | |||||||||||
Assets | ||||||||||||||||
Short-term derivative positions (presented in Other current assets) | ||||||||||||||||
Forward power contracts | Cash Flow | $ | 0.5 | $ | -0.5 | $ | - | $ | - | |||||||
Forward power contracts | MTM | 2.7 | -1.5 | - | 1.2 | |||||||||||
Heating oil futures | MTM | 0.2 | - | -0.2 | - | |||||||||||
Long-term derivative positions (presented in Other deferred assets) | ||||||||||||||||
Forward power contracts | Cash Flow | 0.5 | -0.5 | - | - | |||||||||||
Forward power contracts | MTM | 3.6 | -0.6 | - | 3.0 | |||||||||||
Total assets | $ | 7.5 | $ | -3.1 | $ | -0.2 | $ | 4.2 | ||||||||
Liabilities | ||||||||||||||||
Short-term derivative positions (presented in Other current liabilities) | ||||||||||||||||
Forward power contracts | Cash Flow | $ | 6.7 | $ | -0.5 | $ | -2.1 | $ | 4.1 | |||||||
Interest rate hedge | Cash Flow | 29.5 | - | - | 29.5 | |||||||||||
FTRs | MTM | 0.1 | - | - | 0.1 | |||||||||||
Forward power contracts | MTM | 4.1 | -1.5 | -2 | 0.6 | |||||||||||
Long-term derivative positions (presented in Other deferred liabilities) | ||||||||||||||||
Forward power contracts | Cash Flow | 1.5 | -0.5 | -0.9 | 0.1 | |||||||||||
Forward power contracts | MTM | 0.8 | -0.6 | -0.1 | 0.1 | |||||||||||
Total liabilities | $ | 42.7 | $ | -3.1 | $ | -5.1 | $ | 34.5 | ||||||||
At December 31, 2012, the table above includes Forward power contracts in a short-term asset position of $2.7 million and a long-term asset position of $3.6 million. Forward power contracts with a short-term asset position of $7.2 million and a long-term asset position of $1.0 million have been omitted from the above table as they had been, but no longer need to be, accounted for as derivatives at fair value. These derivatives are being amortized to earnings over the remaining term of the associated forward contracts. | ||||||||||||||||
The aggregate fair value of DPL’s commodity derivative instruments that were in a MTM loss position at September 30, 2013 was $10.3 million. Certain of our OTC commodity derivative contracts are under master netting agreements that contain provisions that require our debt to maintain an investment grade credit rating from credit rating agencies. If our debt does not maintain an investment grade credit rating, our counterparties to the derivative instruments could request immediate payment or immediate and full overnight collateralization of the MTM loss. The MTM loss positions at September 30, 2013 were offset by $4.4 million of collateral posted directly with third parties and in a broker margin account which offsets our loss positions on the forward contracts. This liability position is further offset by the asset position of counterparties with master netting agreements of $4.9 million. If our counterparties were to call for collateral, we could have to post collateral for the remaining $1.0 million. | ||||||||||||||||
DP&L [Member] | ' | |||||||||||||||
Derivative Instruments and Hedging Activities | ' | |||||||||||||||
9. Derivative Instruments and Hedging Activities | ||||||||||||||||
In the normal course of business, DP&L enters into various financial instruments, including derivative financial instruments. We use derivatives principally to manage the risk of changes in market prices for commodities and interest rate risk associated with our long-term debt. The derivatives that we use to economically hedge these risks are governed by our risk management policies for forward and futures contracts. Our net positions are continually assessed within our structured hedging programs to determine whether new or offsetting transactions are required. The objective of the hedging program is to mitigate financial risks while ensuring that we have adequate resources to meet our requirements. We monitor and value derivative positions monthly as part of our risk management processes. We use published sources for pricing, when possible, to mark positions to market. All of our derivative instruments are used for risk management purposes and are designated as cash flow hedges or marked to market each reporting period. | ||||||||||||||||
At September 30, 2013, DP&L had the following outstanding derivative instruments: | ||||||||||||||||
Commodity | Accounting Treatment | Unit | Purchases | Sales | Net Purchases/ (Sales) | |||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||
FTRs | Mark to Market | MWh | 10.7 | - | 10.7 | |||||||||||
Heating oil futures | Mark to Market | Gallons | 1,638.0 | - | 1,638.0 | |||||||||||
Forward power contracts | Cash Flow Hedge | MWh | 421.6 | -4,719.40 | -4,297.80 | |||||||||||
Forward power contracts | Mark to Market | MWh | 2,624.6 | -7,041.30 | -4,416.70 | |||||||||||
At December 31, 2012, DP&L had the following outstanding derivative instruments: | ||||||||||||||||
Commodity | Accounting Treatment | Unit | Purchases | Sales | Net Purchases/ (Sales) | |||||||||||
(in thousands) | (in thousands) | (in thousands) | ||||||||||||||
FTRs | Mark to Market | MWh | 6.9 | - | 6.9 | |||||||||||
Heating oil futures | Mark to Market | Gallons | 1,764.0 | - | 1,764.0 | |||||||||||
Forward power contracts | Cash Flow Hedge | MWh | 1,021.0 | -2,197.90 | -1,176.90 | |||||||||||
Forward power contracts | Mark to Market | MWh | 2,296.6 | -4,760.40 | -2,463.80 | |||||||||||
Cash Flow Hedges | ||||||||||||||||
As part of our risk management processes, we identify the relationships between hedging instruments and hedged items, as well as the risk management objective and strategy for undertaking various hedge transactions. The fair value of cash flow hedges is determined by observable market prices available as of the balance sheet dates and will continue to fluctuate with changes in market prices up to contract expiration. The effective portion of the hedging transaction is recognized in AOCI and transferred to earnings using specific identification of each contract when the forecasted hedged transaction takes place or when the forecasted hedged transaction is probable of not occurring. The ineffective portion of the cash flow hedge is recognized in earnings in the current period. All risk components were taken into account to determine the hedge effectiveness of the cash flow hedges. | ||||||||||||||||
We enter into forward power contracts to manage commodity price risk exposure related to our generation of electricity. We do not hedge all commodity price risk. We reclassify gains and losses on forward power contracts from AOCI into earnings in those periods in which the contracts settle. | ||||||||||||||||
The following tables provide information for DP&L concerning gains or losses recognized in AOCI for the cash flow hedges for the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||
Three months ended | Three months ended | |||||||||||||||
30-Sep-13 | 30-Sep-12 | |||||||||||||||
Interest | Interest | |||||||||||||||
$ in millions (net of tax) | Power | Rate Hedge | Power | Rate Hedge | ||||||||||||
Beginning accumulated derivative gain / (loss) in AOCI | $ | -1.9 | $ | 6.1 | $ | -3.4 | $ | 8.6 | ||||||||
Net gains / (losses) associated with current period hedging transactions | -0.3 | - | -2.5 | -0.6 | ||||||||||||
Net gains / (losses) reclassified to earnings | ||||||||||||||||
Interest expense | - | -0.6 | - | - | ||||||||||||
Revenues | 0.3 | - | - | - | ||||||||||||
Purchased power | 1.3 | - | -0.1 | - | ||||||||||||
Ending accumulated derivative gain / (loss) in AOCI | $ | -0.6 | $ | 5.5 | $ | -6 | $ | 8.0 | ||||||||
Portion expected to be reclassified to earnings in the next twelve months (a) | $ | -2.3 | $ | -2.4 | ||||||||||||
Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) | 39 | - | ||||||||||||||
(a) The actual amounts that we reclassify from AOCI to earnings related to power can differ from the estimate above due to market price changes. | ||||||||||||||||
Nine months ended | Nine months ended | |||||||||||||||
30-Sep-13 | 30-Sep-12 | |||||||||||||||
Interest | Interest | |||||||||||||||
$ in millions (net of tax) | Power | Rate Hedge | Power | Rate Hedge | ||||||||||||
Beginning accumulated derivative gain / (loss) in AOCI | $ | -4.7 | $ | 7.3 | $ | -0.7 | $ | 9.8 | ||||||||
Net gains / (losses) associated with current period hedging transactions | - | - | -4 | - | ||||||||||||
Net gains / (losses) reclassified to earnings | ||||||||||||||||
Interest expense | - | -1.8 | - | -1.8 | ||||||||||||
Revenues | 1.4 | - | 0.1 | - | ||||||||||||
Purchased power | 2.7 | - | -1.4 | - | ||||||||||||
Ending accumulated derivative gain / (loss) in AOCI | $ | -0.6 | $ | 5.5 | $ | -6 | $ | 8.0 | ||||||||
Portion expected to be reclassified to earnings in the next twelve months (a) | $ | -2.3 | $ | -2.4 | ||||||||||||
Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) | 39 | - | ||||||||||||||
(a) The actual amounts that we reclassify from AOCI to earnings related to power can differ from the estimate above due to market price changes. | ||||||||||||||||
Mark to Market Accounting | ||||||||||||||||
Certain derivative contracts are entered into on a regular basis as part of our risk management program but do not qualify for hedge accounting or the normal purchases and sales exceptions under FASC 815. Accordingly, such contracts are recorded at fair value with changes in the fair value charged or credited to the statements of results of operations in the period in which the change occurred. This is commonly referred to as “MTM accounting.” Contracts we enter into as part of our risk management program may be settled financially, by physical delivery or net settled with the counterparty. FTRs, heating oil futures, forward NYMEX-quality coal contracts and certain forward power contracts are marked to market. | ||||||||||||||||
Certain qualifying derivative instruments have been designated as normal purchases or normal sales contracts, as provided under GAAP. Derivative contracts that have been designated as normal purchases or normal sales under GAAP are not subject to MTM accounting and are recognized in the statements of results of operations on an accrual basis. | ||||||||||||||||
Regulatory Assets and Liabilities | ||||||||||||||||
In accordance with regulatory accounting under GAAP, a cost or loss that is probable of recovery in future rates should be deferred as a regulatory asset and revenue or a gain that is probable of being returned to customers should be deferred as a regulatory liability. Portions of the derivative contracts that are marked to market each reporting period and are related to the retail portion of DP&L’s load requirements are included as part of the fuel and purchased power recovery rider approved by the PUCO which began January 1, 2010. Therefore, the Ohio retail customers’ portion of the heating oil futures and the NYMEX-quality coal contracts are deferred as a regulatory asset or liability until the contracts settle. If these unrealized gains and losses are no longer deemed to be probable of recovery through our rates, they will be reclassified into earnings in the period such determination is made. | ||||||||||||||||
The following tables show the amount and classification within the statements of results of operations or balance sheets of the gains and losses on DP&L’s derivatives not designated as hedging instruments for the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||
For the three months ended September 30, 2013 | ||||||||||||||||
$ in millions | Heating Oil | FTRs | Power | Total | ||||||||||||
Change in unrealized gain / (loss) | $ | 0.1 | $ | 1.3 | $ | -0.1 | $ | 1.3 | ||||||||
Realized gain / (loss) | 0.1 | - | -0.8 | -0.7 | ||||||||||||
Total | $ | 0.2 | $ | 1.3 | $ | -0.9 | $ | 0.6 | ||||||||
Recorded in Income Statement: gain / (loss) | ||||||||||||||||
Revenues | $ | - | $ | - | $ | 0.1 | $ | 0.1 | ||||||||
Purchased power | - | 1.3 | -1 | 0.3 | ||||||||||||
Fuel | 0.1 | - | - | 0.1 | ||||||||||||
O&M | 0.1 | - | - | 0.1 | ||||||||||||
Total | $ | 0.2 | $ | 1.3 | $ | -0.9 | $ | 0.6 | ||||||||
For the three months ended September 30, 2012 | ||||||||||||||||
NYMEX | ||||||||||||||||
$ in millions | Coal | Heating Oil | FTRs | Power | Total | |||||||||||
Change in unrealized gain / (loss) | $ | 15.5 | $ | - | $ | 0.1 | $ | -5.5 | $ | 10.1 | ||||||
Realized gain / (loss) | -12.8 | 0.5 | 0.1 | 4.2 | -8 | |||||||||||
Total | $ | 2.7 | $ | 0.5 | $ | 0.2 | $ | -1.3 | $ | 2.1 | ||||||
Recorded on Balance Sheet: | ||||||||||||||||
Partners' share of gain / (loss) | $ | 4.7 | $ | - | $ | - | $ | - | $ | 4.7 | ||||||
Regulatory (asset) / liability | 1.2 | -0.1 | - | - | 1.1 | |||||||||||
Recorded in Income Statement: gain / (loss) | ||||||||||||||||
Revenues | - | - | - | 0.3 | 0.3 | |||||||||||
Purchased power | - | - | 0.2 | -1.6 | -1.4 | |||||||||||
Fuel | -3.2 | 0.5 | - | - | -2.7 | |||||||||||
O&M | - | 0.1 | - | - | 0.1 | |||||||||||
Total | $ | 2.7 | $ | 0.5 | $ | 0.2 | $ | -1.3 | $ | 2.1 | ||||||
For the nine months ended September 30, 2013 | ||||||||||||||||
$ in millions | Heating Oil | FTRs | Power | Total | ||||||||||||
Change in unrealized gain / (loss) | $ | -0.2 | $ | 0.4 | $ | 8.9 | $ | 9.1 | ||||||||
Realized gain / (loss) | - | 1.2 | 1.1 | 2.3 | ||||||||||||
Total | $ | -0.2 | $ | 1.6 | $ | 10.0 | $ | 11.4 | ||||||||
Recorded on Balance Sheet: | ||||||||||||||||
Regulatory (asset) / liability | $ | -0.1 | $ | - | $ | - | $ | -0.1 | ||||||||
Recorded in Income Statement: gain / (loss) | ||||||||||||||||
Revenues | - | - | 0.2 | 0.2 | ||||||||||||
Purchased power | - | 1.6 | 9.8 | 11.4 | ||||||||||||
Fuel | -0.1 | - | - | -0.1 | ||||||||||||
O&M | - | - | - | - | ||||||||||||
Total | $ | -0.2 | $ | 1.6 | $ | 10.0 | $ | 11.4 | ||||||||
For the nine months ended September 30, 2012 | ||||||||||||||||
NYMEX | ||||||||||||||||
$ in millions | Coal | Heating Oil | FTRs | Power | Total | |||||||||||
Change in unrealized gain / (loss) | $ | 13.4 | $ | -1.5 | $ | -0.1 | $ | -4.6 | $ | 7.2 | ||||||
Realized gain / (loss) | -27.2 | 1.9 | 0.5 | 4.2 | -20.6 | |||||||||||
Total | $ | -13.8 | $ | 0.4 | $ | 0.4 | $ | -0.4 | $ | -13.4 | ||||||
Recorded on Balance Sheet: | ||||||||||||||||
Partners' share of gain / (loss) | $ | 3.5 | $ | - | $ | - | $ | - | $ | 3.5 | ||||||
Regulatory (asset) / liability | 0.9 | -0.6 | - | - | 0.3 | |||||||||||
Recorded in Income Statement: gain / (loss) | ||||||||||||||||
Revenues | - | - | - | 2.0 | 2.0 | |||||||||||
Purchased power | - | - | 0.4 | -2.4 | -2 | |||||||||||
Fuel | -18.2 | 0.8 | - | - | -17.4 | |||||||||||
O&M | - | 0.2 | - | - | 0.2 | |||||||||||
Total | $ | -13.8 | $ | 0.4 | $ | 0.4 | $ | -0.4 | $ | -13.4 | ||||||
DP&L has elected not to offset derivative assets and liabilities and not to offset net derivative positions against the right to reclaim cash collateral pledged (an asset) or the obligation to return cash collateral received (a liability) under derivative agreements. | ||||||||||||||||
The following tables summarize the derivative positions presented in the balance sheet where a right of offset exists under these arrangements and related cash collateral received or pledged. The following table shows the fair value and balance sheet classification of DP&L’s derivative instruments at September 30, 2013: | ||||||||||||||||
Fair Values of Derivative Instruments | ||||||||||||||||
at September 30, 2013 | ||||||||||||||||
Gross Amounts Not Offset in the Condensed Balance Sheets | ||||||||||||||||
$ in millions | Hedging Designation | Gross Fair Value as presented in the Condensed Balance Sheets | Financial Instruments with Same Counterparty in Offsetting Position | Cash Collateral | Net Amount | |||||||||||
Assets | ||||||||||||||||
Short-term derivative positions (presented in Other current assets) | ||||||||||||||||
Forward power contracts | Cash Flow | $ | 1.4 | $ | -1.1 | $ | - | $ | 0.3 | |||||||
Forward power contracts | MTM | 5.2 | -2.6 | - | 2.6 | |||||||||||
Heating oil futures | MTM | 0.1 | - | - | 0.1 | |||||||||||
FTRs | MTM | 0.4 | - | - | 0.4 | |||||||||||
Long-term derivative positions (presented in Other deferred assets) | ||||||||||||||||
Forward power contracts | Cash Flow | 1.9 | -0.5 | - | 1.4 | |||||||||||
Forward power contracts | MTM | 12.7 | -0.7 | - | 12.0 | |||||||||||
Total assets | $ | 21.7 | $ | -4.9 | $ | - | $ | 16.8 | ||||||||
Liabilities | ||||||||||||||||
Short-term derivative positions (presented in Other current liabilities) | ||||||||||||||||
Forward power contracts | Cash Flow | $ | 3.8 | $ | -1.1 | $ | -2.3 | $ | 0.4 | |||||||
Forward power contracts | MTM | 4.7 | -2.6 | -1.8 | 0.3 | |||||||||||
Long-term derivative positions (presented in Other deferred liabilities) | ||||||||||||||||
Forward power contracts | Cash Flow | 0.5 | -0.5 | - | - | |||||||||||
Forward power contracts | MTM | 1.1 | -0.7 | -0.1 | 0.3 | |||||||||||
Total liabilities | $ | 10.1 | $ | -4.9 | $ | -4.2 | $ | 1.0 | ||||||||
The following table shows the fair value and balance sheet classification of DP&L’s derivative instruments at December 31, 2012: | ||||||||||||||||
Fair Values of Derivative Instruments | ||||||||||||||||
at December 31, 2012 | ||||||||||||||||
Gross Amounts Not Offset in the Condensed Balance Sheets | ||||||||||||||||
$ in millions | Hedging Designation | Gross Fair Value as presented in the Condensed Balance Sheets | Financial Instruments with Same Counterparty in Offsetting Position | Cash Collateral | Net Amount | |||||||||||
Assets | ||||||||||||||||
Short-term derivative positions (presented in Other current assets) | ||||||||||||||||
Forward power contracts | Cash Flow | $ | 0.5 | $ | -0.5 | $ | - | $ | - | |||||||
Forward power contracts | MTM | 2.8 | -1.5 | - | 1.3 | |||||||||||
Heating oil futures | MTM | 0.2 | - | -0.2 | - | |||||||||||
Long-term derivative positions (presented in Other deferred assets) | ||||||||||||||||
Forward power contracts | Cash Flow | 0.5 | -0.5 | - | - | |||||||||||
Forward power contracts | MTM | 3.6 | -0.6 | - | 3.0 | |||||||||||
Total assets | $ | 7.6 | $ | -3.1 | $ | -0.2 | $ | 4.3 | ||||||||
Liabilities | ||||||||||||||||
Short-term derivative positions (presented in Other current liabilities) | ||||||||||||||||
Forward power contracts | Cash Flow | $ | 6.7 | $ | -0.5 | $ | -2.1 | $ | 4.1 | |||||||
FTRs | MTM | 0.1 | - | - | 0.1 | |||||||||||
Forward power contracts | MTM | 2.7 | -1.5 | -0.5 | 0.7 | |||||||||||
Long-term derivative positions (presented in Other deferred liabilities) | ||||||||||||||||
Forward power contracts | Cash Flow | 1.5 | -0.5 | -0.9 | 0.1 | |||||||||||
Forward power contracts | MTM | 0.7 | -0.6 | - | 0.1 | |||||||||||
Total liabilities | $ | 11.7 | $ | -3.1 | $ | -3.5 | $ | 5.1 | ||||||||
The aggregate fair value of DP&L’s commodity derivative instruments that were in a MTM loss position at September 30, 2013 was $10.1 million. Certain of our OTC commodity derivative contracts are under master netting agreements that contain provisions that require our debt to maintain an investment grade credit rating from credit rating agencies. If our debt does not maintain an investment grade credit rating, our counterparties to the derivative instruments could request immediate payment or immediate and full overnight collateralization of the MTM loss. The MTM loss positions at September 30, 2013 were offset by $4.2 million of collateral posted directly with third parties and in a broker margin account which offsets our loss positions on the forward contracts. This liability position is further offset by the asset position of counterparties with master netting agreements of $4.9 million. If our counterparties were to call for collateral, DP&L could be required to post collateral for the remaining $1.0 million. | ||||||||||||||||
Common_Shareholders_Equity
Common Shareholders' Equity (DP&L [Member]) | 9 Months Ended |
Sep. 30, 2013 | |
DP&L [Member] | ' |
Common Shareholders' Equity | ' |
10. Shareholder’s Equity | |
DP&L has 250,000,000 authorized $0.01 par value common shares, of which 41,172,173 are outstanding at September 30, 2013. All common shares are held by DP&L’s parent, DPL. | |
On August 5, 2013, the Board of Directors of DP&L declared a dividend to the common stockholder of record as of the close of business on August 6, 2013 of up to $75.0 million during the third quarter of 2013; $25.0 million was paid by September 30, 2013, the remainder will not be paid. | |
On November 5, 2013, the Board of Directors of DP&L declared a dividend to the common stockholder of record as of the close of business on November 6, 2013 of up to $75.0 million payable during the fourth quarter of 2013. | |
As part of the PUCO’s approval of the Merger, DP&L agreed to maintain a capital structure that includes an equity ratio of at least 50 percent and not to have a negative retained earnings balance. | |
Commitments_Enviromental_Legal
Commitments, Enviromental, Legal | 9 Months Ended |
Sep. 30, 2013 | |
Contractual Obligations, Commercial Commitments And Contingencies | ' |
10. Contractual Obligations, Commercial Commitments and Contingencies | |
DPL Inc. – Guarantees | |
In the normal course of business, DPL enters into various agreements with its wholly owned subsidiaries, DPLE and DPLER and DPLER’s wholly owned subsidiary, MC Squared, providing financial or performance assurance to third parties. These agreements are entered into primarily to support or enhance the creditworthiness otherwise attributed to these subsidiaries on a stand-alone basis, thereby facilitating the extension of sufficient credit to accomplish these subsidiaries’ intended commercial purposes. | |
At September 30, 2013, DPL had $18.0 million of guarantees to third parties for future financial or performance assurance under such agreements, including $17.8 million of guarantees on behalf of DPLE and DPLER and $0.2 million of guarantees on behalf of MC Squared. The guarantee arrangements entered into by DPL with these third parties cover select present and future obligations of DPLE, DPLER and MC Squared to such beneficiaries and are terminable by DPL upon written notice to the beneficiaries within a certain time. The carrying amount of obligations for commercial transactions covered by these guarantees and recorded in our Condensed Consolidated Balance Sheets was $0.7 million at September 30, 2013. | |
To date, DPL has not incurred any losses related to the guarantees of DPLE’s, DPLER’s and MC Squared’s obligations and we believe it is remote that DPL would be required to perform or incur any losses in the future associated with any of the above guarantees. | |
Equity Ownership Interest | |
DP&L owns a 4.9% equity ownership interest in OVEC, an electric generation company, which is recorded using the cost method of accounting under GAAP. As of September 30, 2013, DP&L could be responsible for the repayment of 4.9%, or $76.9 million, of a $1,569.8 million debt obligation that has maturities from 2018 to 2040. This would only happen if OVEC defaulted on its debt payments. At September 30, 2013, we have no knowledge of such a default. | |
Commercial Commitments and Contractual Obligations | |
There have been no material changes, outside the ordinary course of business, to our commercial commitments and to the information disclosed in the contractual obligations table in our Form 10-K for the fiscal year ended December 31, 2012. | |
Contingencies | |
In the normal course of business, we are subject to various lawsuits, actions, proceedings, claims and other matters asserted under various laws and regulations. We believe the amounts provided in our Condensed Consolidated Financial Statements, as prescribed by GAAP, are adequate in light of the probable and estimable contingencies. However, there can be no assurances that the actual amounts required to satisfy alleged liabilities from various legal proceedings, claims, tax examinations and other matters discussed below, and to comply with applicable laws and regulations, will not exceed the amounts reflected in our Condensed Consolidated Financial Statements. As such, costs, if any, that may be incurred in excess of those amounts provided as of September 30, 2013, cannot be reasonably determined. | |
Environmental Matters | |
The facilities and operations of DPL and its subsidiaries including DP&L are subject to a wide range of environmental regulations and laws by federal, state and local authorities. As well as imposing continuing compliance obligations, these laws and regulations authorize the imposition of substantial penalties for noncompliance, including fines, injunctive relief and other sanctions. In the normal course of business, we have investigatory and remedial activities underway at these facilities to comply, or to determine compliance, with such regulations. We record liabilities for environmental losses that are probable of occurring and can be reasonably estimated. At September 30, 2013, we had accruals of approximately $2.2 million for environmental matters and other claims. We evaluate the potential liability related to probable losses arising from environmental matters quarterly and may revise our accruals accordingly. Such revisions in the estimates of the potential liabilities could have a material adverse effect on our results of operations, financial position or cash flows. | |
We have several pending environmental matters associated with our EGUs and stations. Some of these matters could have material adverse effects on the operation of the units and stations, especially on those that do not have SCR and FGD equipment installed to further control certain emissions. Currently, Hutchings and Beckjord are our only coal-fired generating units or stations that do not have this equipment installed. DP&L owns 100% of the Hutchings Station and a 50% interest in Beckjord Unit 6. | |
On July 15, 2011, Duke Energy, a co-owner at Beckjord Unit 6, filed its Long-term Forecast Report with the PUCO. The plan indicated that Duke Energy plans to cease production at the Beckjord Station, including our commonly owned Unit 6, in December 2014. This was followed by a notification by the joint owners of Beckjord Unit 6 to PJM, dated April 12, 2012, of a planned June 1, 2015 deactivation of this station. We do not believe that any additional environmental accruals are needed as a result of this decision. | |
Consistent with prior disclosures, DP&L deactivated Hutchings Unit 4 on June 1, 2013. In addition, DP&L has notified PJM of its plans to deactivate the remaining Hutchings units on June 1, 2015. Depending on other factors, deactivation could occur sooner. We do not believe that any additional accruals are needed related to the Hutchings Station. | |
As part of a settlement with the USEPA, DP&L signed a Consent Agreement and Final Order (CAFO) that was filed on September 26, 2013. The CAFO resolves the opacity and particulate emissions NOV at the Hutchings Station and requires that all six coal-fired units at Hutchings cease operating on coal by September 30, 2013, and includes an immaterial penalty and the completion of a Supplemental Environmental Project of $0.2 million within one year. The units were disabled for coal operations prior to September 30, 2013. The removal of this capacity has been reflected in the table above. | |
Environmental Matters Related to Air Quality | |
Clean Air Act Compliance | |
In 1990, the federal government amended the CAA to further regulate air pollution. Under the CAA, the USEPA sets limits on how much of a pollutant can be in the ambient air anywhere in the United States. The CAA allows individual states to have stronger pollution controls than those set under the CAA, but states are not allowed to have weaker pollution controls than those set for the whole country. The CAA has a material effect on our operations and such effects are detailed below with respect to certain programs under the CAA. | |
Clean Air Interstate Rule/Cross-State Air Pollution Rule | |
The USEPA promulgated CAIR on March 10, 2005, which required allowance surrender for SO2 and NOx emissions from existing electric generating stations located in 27 eastern states, including Ohio, and the District of Columbia. CAIR contemplated two implementation phases. The first phase began in 2009 and 2010 for NOx and SO2, respectively. A second phase, with additional allowance surrender obligations for both air emissions, was to begin in 2015. To implement the required emission reductions for this rule, the states were to establish emission allowance based “cap-and-trade” programs. CAIR was subsequently challenged in federal court, and on July 11, 2008, the United States Court of Appeals for the D.C. Circuit issued an opinion striking down much of CAIR and remanding it to the USEPA. | |
In response to the D.C. Circuit's opinion, on July 7, 2011, the USEPA issued a final rule titled “Federal Implementation Plans to Reduce Interstate Transport of Fine Particulate Matter and Ozone” in these 28 states, including Ohio, which is now referred to as CSAPR. Starting in 2012, CSAPR would have required significant reductions in SO2 and NOx emissions from covered sources in these 28 states, such as power stations. Once fully implemented in 2014, the rule would have required additional SO2 emission reductions of 73% and additional NOx reductions of 54% from 2005 levels. Many states, utilities and other affected parties filed petitions for review, challenging CSAPR before the United States Court of Appeals for the D.C. Circuit. A large subset of the petitioners also sought a stay of CSAPR. On December 30, 2011, the D.C. Circuit Court granted a stay of CSAPR and directed the USEPA to continue administering CAIR. On August 21, 2012, a three-judge panel of the D.C. Circuit Court vacated CSAPR, ruling that the USEPA overstepped its regulatory authority by requiring states to make reductions beyond the levels required in the CAA and failed to provide states an initial opportunity to adopt their own measures for achieving federal compliance. As a result of this ruling, the surviving provisions of CAIR will continue to serve as the governing program until the USEPA takes further action or the U.S. Congress intervenes. Assuming that the USEPA promulgates a replacement interstate transport rule addressing the D.C. Circuit Court’s ruling, we believe companies will have three years from the date of promulgation before they would be required to comply. At this time, it is not possible to predict the details of such a replacement transport rule or what impacts it may have on our consolidated financial position, results of operations or cash flows. On October 5, 2012, the USEPA, several states and cities, as well as environmental and health organizations, filed petitions with the D.C. Circuit Court requesting a rehearing by all of the judges of the D.C. Circuit Court of the case pursuant to which the three-judge panel ruled that CSAPR be vacated. On January 24, 2013, the D.C. Circuit Court denied this petition for rehearing. Therefore, CAIR currently remains in effect. On March 19, 2013, the USEPA and several environmental groups filed two petitions for review of the D.C. Circuit Court’s decision with the U.S. Supreme Court and on June 24, 2013, the U.S. Supreme Court granted such petitions, agreeing to review the D.C. Circuit Court’s decision. If CSAPR were to be reinstated in its current form, we would not expect any material capital costs for DP&L’s units or stations, as no uncontrolled units will be operating on coal after implementation of MATS in 2015. Because we cannot predict the final outcome of any replacement interstate transport rulemaking, we cannot currently predict its financial impact on DP&L’s operations. | |
Mercury and Other Hazardous Air Pollutants | |
On May 3, 2011, the USEPA published proposed Maximum Achievable Control Technology (MACT) standards for coal- and oil-fired EGUs. The standards include new requirements for emissions of mercury and a number of other heavy metals. The USEPA Administrator signed the final rule, now called MATS, on December 16, 2011, and the rule was published in the Federal Register on February 16, 2012. An additional portion of MATS imposing emissions limits on and requiring pollution control technology at new coal and oil-fueled power plants was finalized on March 28, 2013. Our affected EGUs will have to come into compliance with MATS by April 16, 2015. DP&L is evaluating the costs that may be incurred to comply with MATS; however, MATS could have a material adverse effect on our operations and result in material costs. | |
On April 29, 2010, the USEPA issued a proposed rule that would reduce emissions of toxic air pollutants from new and existing industrial, commercial and institutional boilers, and process heaters at major and area source facilities. The final rule was published in the Federal Register on March 21, 2011. This rule affects seven auxiliary boilers used for start-up purposes at DP&L’s generation facilities. The regulations contain emissions limitations, operating limitations and other requirements. In December 2011, the USEPA proposed additional changes to this rule. On December 21, 2012, the Administrator of the USEPA signed the final rule and it was published in the Federal Register on January 31, 2013. DP&L expects to be in compliance with this rule and the costs are not currently expected to be material to DP&L’s operations. | |
National Ambient Air Quality Standards | |
On January 5, 2005, the USEPA published its final non-attainment designations for the National Ambient Air Quality Standard (NAAQS) for Fine Particulate Matter 2.5 (PM 2.5). These designations included counties and partial counties in which DP&L operates and/or owns generating facilities. On December 31, 2012, the USEPA redesignated Adams County, where Stuart and Killen are located, to attainment status. On December 12, 2012, the USEPA tightened the PM 2.5 standard to 12.0 micrograms per cubic meter. This will begin a process of redesignations during 2014. We cannot predict the effect the revisions to the PM 2.5 standard will have on DP&L’s financial position or results of operations. | |
The USEPA published the national ground level ozone standard on March 12, 2008, lowering the 8 hour level from 0.08 PPM to 0.075 PPM. The USEPA finalized the area designations on April 30, 2012. DP&L cannot determine the effect of revisions to the ozone standard, if any, on its operations, however, no DP&L operations are located in non-attainment areas. The USEPA is required to review the ozone standard and is expected to propose a more stringent standard in 2014 or 2015. | |
Effective April 12, 2010, the USEPA implemented revisions to its primary NAAQS for nitrogen dioxide. This change may affect certain emission sources in heavy traffic areas like the I-75 corridor between Cincinnati and Dayton after 2016. Several of our facilities or co-owned facilities are within this area. DP&L cannot determine the effect of this potential change, if any, on its operations. | |
Effective August 23, 2010, the USEPA implemented revisions to its primary NAAQS for SO2 replacing the current 24-hour standard and annual standard with a one hour standard. DP&L cannot determine the effect of this potential change, if any, on its operations. | |
On May 5, 2004, the USEPA issued its proposed regional haze rule, which addresses how states should determine the Best Available Retrofit Technology (BART) for sources covered under the regional haze rule. Final rules were published July 6, 2005, providing states with several options for determining whether sources in the state should be subject to BART. Numerous units owned and operated by us will be affected by BART. We cannot determine the extent of the impact until Ohio determines how BART will be implemented. | |
Carbon Dioxide and Other Greenhouse Gas Emissions | |
In response to a U.S. Supreme Court decision that the USEPA has the authority to regulate GHG emissions from motor vehicles, the USEPA made a finding that CO2 and certain other GHGs are pollutants under the CAA. Subsequently, under the CAA, the USEPA determined that CO2 and other GHGs from motor vehicles threaten the health and welfare of future generations by contributing to climate change. This finding became effective in January 2010. On April 1, 2010, the USEPA signed the “Light-Duty Vehicle Greenhouse Gas Emission Standards and Corporate Average Fuel Economy Standards” rule. Under the USEPA’s view, this is the final action that renders CO2 and other GHGs “regulated air pollutants” under the CAA. | |
Under the USEPA regulations finalized in May 2010 (referred to as the “Tailoring Rule”), the USEPA began regulating GHG emissions from certain stationary sources in January 2011. The Tailoring Rule sets forth criteria for determining which facilities are required to obtain permits for their GHG emissions pursuant to the CAA Prevention of Significant Deterioration and Title V operating permit programs. Under the Tailoring Rule, permitting requirements are being phased in through successive steps that may expand the scope of covered sources over time. The USEPA has issued guidance on what the best available control technology entails for the control of GHGs and individual states are required to determine what controls are required for facilities on a case-by-case basis. Various industry groups and states petitioned the U.S. Supreme Court to review the D.C. Circuit Court’s recent decision to uphold the USEPA’s endangerment finding, its April 2010 GHG rule and the Tailoring Rule. On October 15, 2013, the U.S. Supreme Court agreed to review whether the GHG rules for motor vehicles triggered CAA permitting for stationary sources. We cannot predict the outcome of the petition. The ultimate impact of the Tailoring Rule to DP&L cannot be determined at this time, but the cost of compliance could be material. | |
On September 20, 2013, the USEPA proposed revised GHG standards for new EGUs under CAA subsection 111(b), which would require certain new EGUs to limit the amount of CO2 emitted per megawatt-hour. The proposal anticipates that affected coal-fired units would need to rely upon partial implementation of carbon capture and storage or other expensive CO2 emission control technology. Furthermore, the USEPA is expected to issue new standards, regulations or guidelines, as appropriate to address GHG emissions from existing EGUs. The USEPA has been directed to propose such standards by June 1, 2014 and finalize them by June 1, 2015. We cannot predict the effect of these standards, if any, on DP&L’s operations. | |
Approximately 97% of the energy we produce is generated by coal. DP&L’s share of CO2 emissions at generating units and stations we own and co-own is approximately 14 million tons annually. Further GHG legislation or regulation implemented at a future date could have a significant effect on DP&L’s operations and costs, which could adversely affect our net income, cash flows and financial position. However, due to the uncertainty associated with such legislation or regulation, we cannot predict the final outcome or the financial impact that such legislation or regulation may have on DP&L. | |
Litigation, Notices of Violation and Other Matters Related to Air Quality | |
Litigation Involving Co-Owned Stations | |
On June 20, 2011, the U.S. Supreme Court ruled that the USEPA’s regulation of GHGs under the CAA displaced any right that plaintiffs may have had to seek similar regulation through federal common law litigation in the court system. Although we were not named as a party to these lawsuits, DP&L is a co-owner of coal-fired stations with Duke Energy and AEP (or their subsidiaries) that could have been affected by the outcome of these lawsuits or similar suits that may have been filed against other electric power companies, including DP&L. Because the issue was not squarely before it, the U.S. Supreme Court did not rule against the portion of plaintiffs’ original suits that sought relief under state law. | |
As a result of a 2008 consent decree entered into with the Sierra Club and approved by the U.S. District Court for the Southern District of Ohio, DP&L and the other owners of the Stuart Station are subject to certain specified emission targets related to NOx, SO2 and particulate matter. The consent decree also includes commitments for energy efficiency and renewable energy activities. An amendment to the consent decree was entered into and approved in 2010 to clarify how emissions would be computed during malfunctions. Continued compliance with the consent decree, as amended, is not expected to have a material effect on DP&L’s results of operations, financial position or cash flows in the future. | |
Notices of Violation Involving Co-Owned Stations | |
In November 1999, the USEPA filed civil complaints and NOVs against operators and owners of certain generation facilities for alleged violations of the CAA. Generation units operated by Duke Energy (Beckjord Unit 6) and Ohio Power (Conesville Unit 4) and co-owned by DP&L were referenced in these actions. Although DP&L was not identified in the NOVs, civil complaints or state actions, the results of such proceedings could materially affect DP&L’s co-owned stations. | |
In June 2000, the USEPA issued an NOV to the DP&L-operated Stuart Station (co-owned by DP&L, Duke Energy and Ohio Power) for alleged violations of the CAA. The NOV contained allegations consistent with NOVs and complaints that the USEPA had brought against numerous other coal-fired utilities in the Midwest, including the NOVs noted in the paragraph above. The NOV indicated the USEPA may: (1) issue an order requiring compliance with the requirements of the Ohio SIP; or (2) bring a civil action seeking injunctive relief and civil penalties of up to $27,500 per day for each violation. To date, neither action has been taken. DP&L cannot predict the outcome of this matter. | |
On March 13, 2008, Duke Energy, the operator of the Zimmer Station, received an NOV and a Finding of Violation (FOV) from the USEPA alleging violations of the CAA, the Ohio SIP and air permits for the station in areas including SO2, opacity and increased heat input. A second NOV and FOV with similar allegations were received by Duke Energy on November 4, 2010. Also in 2010, the USEPA issued an NOV to Zimmer for excess emissions. DP&L is a co-owner of the Zimmer Station and could be affected by the eventual resolution of these matters. Duke Energy is expected to act on behalf of itself and the co-owners with respect to these matters. DP&L is unable to predict the outcome of these matters. | |
Notices of Violation Involving Wholly Owned Stations | |
In 2007, the Ohio EPA and the USEPA issued NOVs to DP&L for alleged violations of the CAA at the Hutchings Station. The NOVs alleged deficiencies relate to stack opacity and particulate emissions. On November 18, 2009, the USEPA issued an NOV to DP&L for alleged NSR violations of the CAA at the Hutchings Station relating to capital projects performed in 2001 involving Unit 3 and Unit 6. DP&L did not believe that the projects described in the November 2009 NOV were modifications subject to NSR. As part of a settlement with the USEPA, DP&L signed a Consent Agreement and Final Order (CAFO) that was filed on September 26, 2013. The CAFO resolves the opacity and particulate emissions NOV at the Hutchings Station and requires that all six coal-fired units at Hutchings cease operating on coal by September 30, 2013, and includes an immaterial penalty and the completion of a Supplemental Environmental Project of $0.2 million within one year. The units were disabled for coal operations prior to September 30, 2013. DP&L also resolved all issues associated with the Ohio EPA NOV through a settlement signed October 4, 2013 that included the payment of an immaterial penalty. | |
Environmental Matters Related to Water Quality, Waste Disposal and Ash Ponds | |
Clean Water Act – Regulation of Water Intake | |
On July 9, 2004, the USEPA issued final rules pursuant to the Clean Water Act governing existing facilities that have cooling water intake structures. The rules required an assessment of impingement and/or entrainment of organisms as a result of cooling water withdrawal. A number of parties appealed the rules. In April 2009, the U.S. Supreme Court ruled that the USEPA did have the authority to compare costs with benefits in determining the best technology available. The USEPA released new proposed regulations on March 28, 2011, which were published in the Federal Register on April 20, 2011. We submitted comments to the proposed regulations on August 17, 2011. In late 2013, the USEPA announced that the release of the final rules would be delayed until November 20, 2013. We do not yet know the impact these proposed rules, when finalized, will have on our operations. | |
Clean Water Act – Regulation of Water Discharge | |
In December 2006, DP&L submitted a renewal application for the Stuart Station NPDES permit that was due to expire on June 30, 2007. The Ohio EPA issued a revised draft permit that was received on November 12, 2008. In September 2010, the USEPA formally objected to the November 12, 2008 revised permit due to questions regarding the basis for the alternate thermal limitation. At DP&L’s request, a public hearing was held on March 23, 2011 where DP&L presented its position on the issue and provided written comments. In a letter to the Ohio EPA dated September 28, 2011, the USEPA reaffirmed its objection to the revised permit as previously drafted by the Ohio EPA. This reaffirmation stipulated that if the Ohio EPA does not re-draft the permit to address the USEPA’s objection, then the authority for issuing the permit will pass to the USEPA. The Ohio EPA issued another draft permit in December 2011 and a public hearing was held on February 2, 2012. The draft permit would require DP&L, over the 54 months following issuance of a final permit, to take undefined actions to lower the temperature of its discharged water to a level unachievable by the station under its current design or alternatively make other significant modifications to the cooling water system. DP&L submitted comments to the draft permit. In November 2012, the Ohio EPA issued another draft which included a compliance schedule for performing a study to justify an alternate thermal limitation and to which DP&L submitted comments. In December 2012, the USEPA formally withdrew its objection to the permit. On January 7, 2013, the Ohio EPA issued a final permit. On February 1, 2013, DP&L appealed various aspects of the final permit to the Environmental Review Appeals Commission and a hearing has been scheduled for May 2014. Depending on the outcome of the appeals process, the effects could be material to DP&L’s operations. | |
In September 2009, the USEPA announced that it will be revising technology-based regulations governing water discharges from steam electric generating facilities. The rulemaking included the collection of information via an industry-wide questionnaire as well as targeted water sampling efforts at selected facilities. On April 19, 2013, the USEPA announced a proposed new rule regulating discharge of pollutants from various waste streams associated with steam EGUs. The proposal was published in the Federal Register on June 7, 2013. Following a comment period, which ended September 20, 2013, the rule is expected to be finalized by May 2014. At present, DP&L is reviewing the proposed rule and is currently unable to predict the impact this rulemaking will have on its operations. | |
In August 2012, DP&L submitted an application for the renewal of the Killen Station NPDES permit which expired in January 2013. At present, the outcome of this proceeding is not known. The Killen Station has continued to operate under its existing permit. | |
In April 2012, DP&L received an NOV from the Ohio EPA related to the construction of the Carter Hollow landfill at the Stuart Station. The NOV indicated that construction activities caused sediment to flow into downstream creeks. In addition, the U.S. Army Corps of Engineers issued a Cease and Desist order followed by a notice suspending the previously issued Corps permit authorizing work associated with the landfill. On September 25, 2013, a settlement with the USEPA was filed which included immaterial penalties paid in October 2013. DP&L is working with the Corps to have the permit reinstated. The landfill’s construction schedule is still uncertain. | |
Regulation of Waste Disposal | |
In September 2002, DP&L and other parties received a special notice that the USEPA considers us to be a PRP for the clean-up of hazardous substances at the South Dayton Dump landfill site. In August 2005, DP&L and other parties received a general notice regarding the performance of a Remedial Investigation and Feasibility Study (RI/FS) under a Superfund Alternative Approach. In October 2005, DP&L received a special notice letter inviting it to enter into negotiations with the USEPA to conduct the RI/FS. No recent activity has occurred with respect to that notice or PRP status. However, on August 25, 2009, the USEPA issued an Administrative Order requiring that access to DP&L’s service center building site, which is across the street from the landfill site, be given to the USEPA and the existing PRP group to help determine the extent of the landfill site’s contamination as well as to assess whether certain chemicals used at the service center building site might have migrated through groundwater to the landfill site. DP&L granted such access and drilling of soil borings and installation of monitoring wells occurred in late 2009 and early 2010. On May 24, 2010, three members of the existing PRP group, Hobart Corporation, Kelsey-Hayes Company and NCR Corporation, filed a civil complaint in the United States District Court for the Southern District of Ohio against DP&L and numerous other defendants alleging that DP&L and the other defendants contributed to the contamination at the South Dayton Dump landfill site and seeking reimbursement of the PRP group’s costs associated with the investigation and remediation of the site. On February 10, 2011, the Court dismissed claims against DP&L that related to allegations that chemicals used by DP&L at its service center contributed to the landfill site’s contamination. The Court, however, did not dismiss claims alleging financial responsibility for remediation costs based on hazardous substances from DP&L that were allegedly directly delivered by truck to the landfill. Discovery, including depositions of past and present DP&L employees, was conducted in 2012. On February 8, 2013, the Court granted DP&L’s motion for summary judgment on statute of limitations grounds with respect to claims seeking a contribution toward the costs that are expected to be incurred by the PRP group in performing an RI/FS. That summary judgment ruling was appealed on March 4, 2013 and the appeal is pending. DP&L is unable to predict the outcome of the appeal. Additionally, the Court’s ruling does not address future litigation that may arise with respect to actual remediation costs. While DP&L is unable to predict the outcome of these matters, if DP&L were required to contribute to the clean-up of the site, it could have a material adverse effect on its operations. | |
Beginning in mid-2012, the USEPA began investigating whether explosive or other dangerous conditions exist under structures located at or near the South Dayton Dump landfill site. In October 2012, DP&L received a request from the PRP group’s consultant to conduct additional soil and groundwater sampling on DP&L’s service center property. After informal discussions with the USEPA, DP&L complied with this sampling request and the sampling was conducted in February 2013. On February 28, 2013, the plaintiffs group referenced above entered into an Administrative Settlement Agreement Consent Order (ASACO) that establishes procedures for further sub-slab testing under structures at the South Dayton Dump landfill site and remediation of vapor intrusion issues relating to trichloroethylene (TCE), percholorethylene (PCE), and methane. On April 16, 2013, the plaintiffs group filed a new complaint against DP&L and approximately 25 other defendants alleging that they share liability for these costs. DP&L will oppose the allegations that it bears any responsibility under the February 2013 ASACO and will actively oppose any attempt that the plaintiffs group may have to expand the scope of the new complaint to resurrect issues dismissed by the Court in February 2013 under the first complaint. | |
In December 2003, DP&L and other parties received a special notice that the USEPA considers us to be a PRP for the clean-up of hazardous substances at the Tremont City landfill site. Information available to DP&L does not demonstrate that it contributed hazardous substances to the site. While DP&L is unable to predict the outcome of this matter, if DP&L were required to contribute to the clean-up of the site, it could have a material adverse effect on its operations. | |
On April 7, 2010, the USEPA published an Advance Notice of Proposed Rulemaking announcing that it is reassessing existing regulations governing the use and distribution in commerce of polychlorinated biphenyls (PCBs). While this reassessment is in the early stages and the USEPA is seeking information from potentially affected parties on how it should proceed, the outcome could have a material effect on DP&L. The USEPA has indicated that the official release date for a proposed rule is projected to be sometime in July 2014. | |
Regulation of Ash Ponds | |
In March 2009, the USEPA, through a formal Information Collection Request, collected information on ash pond facilities across the country, including those at the Killen and Stuart Stations. Subsequently, the USEPA collected similar information for the Hutchings Station. | |
In August 2010, the USEPA conducted an inspection of the Hutchings Station ash ponds. In June 2011, the USEPA issued a final report from the inspection including recommendations relative to the Hutchings Station ash ponds. DP&L is unable to predict whether there will be additional USEPA action relative to DP&L’s proposed plan to address these recommendations or the effect on our operations that might arise under a different plan. | |
In June 2011, the USEPA conducted an inspection of the Killen Station ash ponds. In May 2012, we received a draft report on the inspection. DP&L submitted comments on the draft report in June 2012. On March 14, 2013, DP&L received the final report on the inspection of the Killen Station ash pond inspection from the USEPA which included recommended actions. DP&L has submitted a response with its actions to the USEPA. There were no material compliance requirements included in the report. | |
There has been increasing advocacy to regulate coal combustion byproducts under the Resource Conservation Recovery Act (RCRA). On June 21, 2010, the USEPA published a proposed rule seeking comments on two options under consideration for the regulation of coal combustion byproducts including regulating the material as a hazardous waste under RCRA Subtitle C or as a solid waste under RCRA Subtitle D. Litigation has been filed by several groups seeking a court-ordered deadline for the issuance of a final rule, which the USEPA has opposed. At present, the timing for a final rule regulating coal combustion byproducts cannot be determined, but the USEPA has stated possibly by 2014. If coal combustion byproducts are regulated as hazardous waste, DP&L would expect such a development to have a material adverse effect on its operations. | |
Notice of Violation Involving Co-Owned Units | |
On September 9, 2011, DP&L received an NOV from the USEPA with respect to its co-owned Stuart Station based on a compliance evaluation inspection conducted by the USEPA and the Ohio EPA in 2009. The notice alleged non-compliance by DP&L with certain provisions of the RCRA, the Clean Water Act NPDES permit program and the station’s storm water pollution prevention plan. The notice requested that DP&L respond with the actions it has subsequently taken or plans to take to remedy the USEPA’s findings and ensure that further violations will not occur. Based on its review of the findings, although there can be no assurance, we believe that the notice will not result in any material effect on DP&L’s results of operations, financial position or cash flow. | |
Legal and Other Matters | |
In February 2007, DP&L filed a lawsuit in the United States District Court for the Southern District of Ohio against Appalachian Fuels, LLC (“Appalachian”) seeking damages incurred due to Appalachian’s failure to supply approximately 1.5 million tons of coal to two commonly owned stations under a coal supply agreement, of which approximately 570 thousand tons was DP&L’s share. DP&L obtained replacement coal to meet its needs. Appalachian has denied liability, and is currently in federal bankruptcy proceedings in which DP&L is participating as an unsecured creditor. DP&L is unable to determine the ultimate resolution of this matter. DP&L has not recorded any assets relating to possible recovery of costs in this lawsuit. | |
DP&L [Member] | ' |
Contractual Obligations, Commercial Commitments And Contingencies | ' |
11. Contractual Obligations, Commercial Commitments and Contingencies | |
DP&L – Equity Ownership Interest | |
DP&L owns a 4.9% equity ownership interest in OVEC, an electric generation company, which is recorded using the cost method of accounting under GAAP. As of September 30, 2013, DP&L could be responsible for the repayment of 4.9%, or $76.9 million, of a $1,569.8 million debt obligation that has maturities from 2018 to 2040. This would only happen if OVEC defaulted on its debt payments. As of September 30, 2013, we have no knowledge of such a default. | |
Commercial Commitments and Contractual Obligations | |
There have been no material changes, outside the ordinary course of business, to our commercial commitments and to the information disclosed in the contractual obligations table in our Form 10-K for the fiscal year ended December 31, 2012. | |
Contingencies | |
In the normal course of business, we are subject to various lawsuits, actions, proceedings, claims and other matters asserted under laws and regulations. We believe the amounts provided in our Condensed Financial Statements, as prescribed by GAAP, are adequate in light of the probable and estimable contingencies. However, there can be no assurances that the actual amounts required to satisfy alleged liabilities from various legal proceedings, claims, tax examinations and other matters discussed below, and to comply with applicable laws and regulations, will not exceed the amounts reflected in our Condensed Financial Statements. As such, costs, if any, that may be incurred in excess of those amounts provided as of September 30, 2013, cannot be reasonably determined. | |
Environmental Matters | |
The facilities and operations of DP&L are subject to a wide range of environmental regulations and laws by federal, state and local authorities. As well as imposing continuing compliance obligations, these laws and regulations authorize the imposition of substantial penalties for noncompliance, including fines, injunctive relief and other sanctions. In the normal course of business, we have investigatory and remedial activities underway at these facilities to comply, or to determine compliance, with such regulations. We record liabilities for environmental losses that are probable of occurring and can be reasonably estimated. At September 30, 2013, we had accruals of approximately $2.2 million for environmental matters and other claims. We evaluate the potential liability related to probable losses arising from environmental matters quarterly and may revise our accruals accordingly. Such revisions in the estimates of the potential liabilities could have a material adverse effect on our results of operations, financial position or cash flows. | |
We have several pending environmental matters associated with our EGUs and stations. Some of these matters could have material adverse effects on the operation of the units and stations, especially on those that do not have SCR and FGD equipment installed to further control certain emissions. Currently, Hutchings and Beckjord are our only coal-fired generating units or stations that do not have this equipment installed. DP&L owns 100% of the Hutchings Station and a 50% interest in Beckjord Unit 6. | |
On July 15, 2011, Duke Energy, a co-owner at Beckjord Unit 6, filed its Long-term Forecast Report with the PUCO. The plan indicated that Duke Energy plans to cease production at the Beckjord Station, including our commonly owned Unit 6, in December 2014. This was followed by a notification by the joint owners of Beckjord Unit 6 to PJM, dated April 12, 2012, of a planned June 1, 2015 deactivation of this station. We do not believe that any additional environmental accruals are needed as a result of this decision. | |
Consistent with prior disclosures, DP&L deactivated Hutchings Unit 4 on June 1, 2013. In addition, DP&L has notified PJM of its plans to deactivate the remaining Hutchings units on June 1, 2015. Depending on other factors, deactivation could occur sooner. We do not believe that any additional accruals are needed related to the Hutchings Station. | |
As part of a settlement with the USEPA, DP&L signed a Consent Agreement and Final Order (CAFO) that was filed on September 26, 2013. The CAFO resolves the opacity and particulate emissions NOV at the Hutchings Station and requires that all six coal-fired units at Hutchings cease operating on coal by September 30, 2013, and includes an immaterial penalty and the completion of a Supplemental Environmental Project of $0.2 million within one year. The units were disabled for coal operations prior to September 30, 2013. The removal of this capacity has been reflected in the table above. | |
Environmental Matters Related to Air Quality | |
Clean Air Act Compliance | |
In 1990, the federal government amended the CAA to further regulate air pollution. Under the CAA, the USEPA sets limits on how much of a pollutant can be in the ambient air anywhere in the United States. The CAA allows individual states to have stronger pollution controls than those set under the CAA, but states are not allowed to have weaker pollution controls than those set for the whole country. The CAA has a material effect on our operations and such effects are detailed below with respect to certain programs under the CAA. | |
Clean Air Interstate Rule/Cross-State Air Pollution Rule | |
The USEPA promulgated CAIR on March 10, 2005, which required allowance surrender for SO2 and NOx emissions from existing electric generating stations located in 27 eastern states, including Ohio, and the District of Columbia. CAIR contemplated two implementation phases. The first phase began in 2009 and 2010 for NOx and SO2, respectively. A second phase, with additional allowance surrender obligations for both air emissions, was to begin in 2015. To implement the required emission reductions for this rule, the states were to establish emission allowance based “cap-and-trade” programs. CAIR was subsequently challenged in federal court, and on July 11, 2008, the United States Court of Appeals for the D.C. Circuit issued an opinion striking down much of CAIR and remanding it to the USEPA. | |
In response to the D.C. Circuit's opinion, on July 7, 2011, the USEPA issued a final rule titled “Federal Implementation Plans to Reduce Interstate Transport of Fine Particulate Matter and Ozone” in these 28 states, including Ohio, which is now referred to as CSAPR. Starting in 2012, CSAPR would have required significant reductions in SO2 and NOx emissions from covered sources in these 28 states, such as power stations. Once fully implemented in 2014, the rule would have required additional SO2 emission reductions of 73% and additional NOx reductions of 54% from 2005 levels. Many states, utilities and other affected parties filed petitions for review, challenging CSAPR before the United States Court of Appeals for the D.C. Circuit. A large subset of the petitioners also sought a stay of CSAPR. On December 30, 2011, the D.C. Circuit Court granted a stay of CSAPR and directed the USEPA to continue administering CAIR. On August 21, 2012, a three-judge panel of the D.C. Circuit Court vacated CSAPR, ruling that the USEPA overstepped its regulatory authority by requiring states to make reductions beyond the levels required in the CAA and failed to provide states an initial opportunity to adopt their own measures for achieving federal compliance. As a result of this ruling, the surviving provisions of CAIR will continue to serve as the governing program until the USEPA takes further action or the U.S. Congress intervenes. Assuming that the USEPA promulgates a replacement interstate transport rule addressing the D.C. Circuit Court’s ruling, we believe companies will have three years from the date of promulgation before they would be required to comply. At this time, it is not possible to predict the details of such a replacement transport rule or what impacts it may have on our consolidated financial position, results of operations or cash flows. On October 5, 2012, the USEPA, several states and cities, as well as environmental and health organizations, filed petitions with the D.C. Circuit Court requesting a rehearing by all of the judges of the D.C. Circuit Court of the case pursuant to which the three-judge panel ruled that CSAPR be vacated. On January 24, 2013, the D.C. Circuit Court denied this petition for rehearing. Therefore, CAIR currently remains in effect. On March 19, 2013, the USEPA and several environmental groups filed two petitions for review of the D.C. Circuit Court’s decision with the U.S. Supreme Court and on June 24, 2013, the U.S. Supreme Court granted such petitions, agreeing to review the D.C. Circuit Court’s decision. If CSAPR were to be reinstated in its current form, we would not expect any material capital costs for DP&L’s units or stations, as no uncontrolled units will be operating on coal after implementation of MATS in 2015. Because we cannot predict the final outcome of any replacement interstate transport rulemaking, we cannot currently predict its financial impact on DP&L’s operations. | |
Mercury and Other Hazardous Air Pollutants | |
On May 3, 2011, the USEPA published proposed Maximum Achievable Control Technology (MACT) standards for coal- and oil-fired EGUs. The standards include new requirements for emissions of mercury and a number of other heavy metals. The USEPA Administrator signed the final rule, now called MATS, on December 16, 2011, and the rule was published in the Federal Register on February 16, 2012. An additional portion of MATS imposing emissions limits on and requiring pollution control technology at new coal and oil-fueled power plants was finalized on March 28, 2013. Our affected EGUs will have to come into compliance with MATS by April 16, 2015. DP&L is evaluating the costs that may be incurred to comply with MATS; however, MATS could have a material adverse effect on our operations and result in material costs. | |
On April 29, 2010, the USEPA issued a proposed rule that would reduce emissions of toxic air pollutants from new and existing industrial, commercial and institutional boilers, and process heaters at major and area source facilities. The final rule was published in the Federal Register on March 21, 2011. This rule affects seven auxiliary boilers used for start-up purposes at DP&L’s generation facilities. The regulations contain emissions limitations, operating limitations and other requirements. In December 2011, the USEPA proposed additional changes to this rule. On December 21, 2012, the Administrator of the USEPA signed the final rule and it was published in the Federal Register on January 31, 2013. DP&L expects to be in compliance with this rule and the costs are not currently expected to be material to DP&L’s operations. | |
National Ambient Air Quality Standards | |
On January 5, 2005, the USEPA published its final non-attainment designations for the National Ambient Air Quality Standard (NAAQS) for Fine Particulate Matter 2.5 (PM 2.5). These designations included counties and partial counties in which DP&L operates and/or owns generating facilities. On December 31, 2012, the USEPA redesignated Adams County, where Stuart and Killen are located, to attainment status. On December 12, 2012, the USEPA tightened the PM 2.5 standard to 12.0 micrograms per cubic meter. This will begin a process of redesignations during 2014. We cannot predict the effect the revisions to the PM 2.5 standard will have on DP&L’s financial position or results of operations. | |
The USEPA published the national ground level ozone standard on March 12, 2008, lowering the 8 hour level from 0.08 PPM to 0.075 PPM. The USEPA finalized the area designations on April 30, 2012. DP&L cannot determine the effect of revisions to the ozone standard, if any, on its operations, however, no DP&L operations are located in non-attainment areas. The USEPA is required to review the ozone standard and is expected to propose a more stringent standard in 2014 or 2015. | |
Effective April 12, 2010, the USEPA implemented revisions to its primary NAAQS for nitrogen dioxide. This change may affect certain emission sources in heavy traffic areas like the I-75 corridor between Cincinnati and Dayton after 2016. Several of our facilities or co-owned facilities are within this area. DP&L cannot determine the effect of this potential change, if any, on its operations. | |
Effective August 23, 2010, the USEPA implemented revisions to its primary NAAQS for SO2 replacing the current 24-hour standard and annual standard with a one hour standard. DP&L cannot determine the effect of this potential change, if any, on its operations. | |
On May 5, 2004, the USEPA issued its proposed regional haze rule, which addresses how states should determine the Best Available Retrofit Technology (BART) for sources covered under the regional haze rule. Final rules were published July 6, 2005, providing states with several options for determining whether sources in the state should be subject to BART. Numerous units owned and operated by us will be affected by BART. We cannot determine the extent of the impact until Ohio determines how BART will be implemented. | |
Carbon Dioxide and Other Greenhouse Gas Emissions | |
In response to a U.S. Supreme Court decision that the USEPA has the authority to regulate GHG emissions from motor vehicles, the USEPA made a finding that CO2 and certain other GHGs are pollutants under the CAA. Subsequently, under the CAA, the USEPA determined that CO2 and other GHGs from motor vehicles threaten the health and welfare of future generations by contributing to climate change. This finding became effective in January 2010. On April 1, 2010, the USEPA signed the “Light-Duty Vehicle Greenhouse Gas Emission Standards and Corporate Average Fuel Economy Standards” rule. Under the USEPA’s view, this is the final action that renders CO2 and other GHGs “regulated air pollutants” under the CAA. | |
Under the USEPA regulations finalized in May 2010 (referred to as the “Tailoring Rule”), the USEPA began regulating GHG emissions from certain stationary sources in January 2011. The Tailoring Rule sets forth criteria for determining which facilities are required to obtain permits for their GHG emissions pursuant to the CAA Prevention of Significant Deterioration and Title V operating permit programs. Under the Tailoring Rule, permitting requirements are being phased in through successive steps that may expand the scope of covered sources over time. The USEPA has issued guidance on what the best available control technology entails for the control of GHGs and individual states are required to determine what controls are required for facilities on a case-by-case basis. Various industry groups and states petitioned the U.S. Supreme Court to review the D.C. Circuit Court’s recent decision to uphold the USEPA’s endangerment finding, its April 2010 GHG rule and the Tailoring Rule. On October 15, 2013, the U.S. Supreme Court agreed to review whether GHG rules for motor vehicles triggered CAA permitting for stationary sources. We cannot predict the outcome of the petition. The ultimate impact of the Tailoring Rule to DP&L cannot be determined at this time, but the cost of compliance could be material. | |
On September 20, 2013, the USEPA proposed revised GHG standards for new EGUs under CAA subsection 111(b), which would require certain new EGUs to limit the amount of CO2 emitted per megawatt-hour. The proposal anticipates that affected coal-fired units would need to rely upon partial implementation of carbon capture and storage or other expensive CO2 emission control technology. Furthermore, the USEPA is expected to issue new standards, regulations or guidelines, as appropriate to address GHG emissions from existing EGUs. The USEPA has been directed to propose such standards by June 1, 2014 and finalize them by June 1, 2015. We cannot predict the effect of these standards, if any, on DP&L’s operations. | |
Approximately 97% of the energy we produce is generated by coal. DP&L’s share of CO2 emissions at generating units and stations we own and co-own is approximately 14 million tons annually. Further GHG legislation or regulation implemented at a future date could have a significant effect on DP&L’s operations and costs, which could adversely affect our net income, cash flows and financial position. However, due to the uncertainty associated with such legislation or regulation, we cannot predict the final outcome or the financial impact that such legislation or regulation may have on DP&L. | |
Litigation, Notices of Violation and Other Matters Related to Air Quality | |
Litigation Involving Co-Owned Stations | |
On June 20, 2011, the U.S. Supreme Court ruled that the USEPA’s regulation of GHGs under the CAA displaced any right that plaintiffs may have had to seek similar regulation through federal common law litigation in the court system. Although we were not named as a party to these lawsuits, DP&L is a co-owner of coal-fired stations with Duke Energy and AEP (or their subsidiaries) that could have been affected by the outcome of these lawsuits or similar suits that may have been filed against other electric power companies, including DP&L. Because the issue was not squarely before it, the U.S. Supreme Court did not rule against the portion of plaintiffs’ original suits that sought relief under state law. | |
As a result of a 2008 consent decree entered into with the Sierra Club and approved by the U.S. District Court for the Southern District of Ohio, DP&L and the other owners of the Stuart Station are subject to certain specified emission targets related to NOx, SO2 and particulate matter. The consent decree also includes commitments for energy efficiency and renewable energy activities. An amendment to the consent decree was entered into and approved in 2010 to clarify how emissions would be computed during malfunctions. Continued compliance with the consent decree, as amended, is not expected to have a material effect on DP&L’s results of operations, financial position or cash flows in the future. | |
Notices of Violation Involving Co-Owned Stations | |
In November 1999, the USEPA filed civil complaints and NOVs against operators and owners of certain generation facilities for alleged violations of the CAA. Generation units operated by Duke Energy (Beckjord Unit 6) and Ohio Power (Conesville Unit 4) and co-owned by DP&L were referenced in these actions. Although DP&L was not identified in the NOVs, civil complaints or state actions, the results of such proceedings could materially affect DP&L’s co-owned stations. | |
In June 2000, the USEPA issued an NOV to the DP&L-operated Stuart Station (co-owned by DP&L, Duke Energy and Ohio Power) for alleged violations of the CAA. The NOV contained allegations consistent with NOVs and complaints that the USEPA had brought against numerous other coal-fired utilities in the Midwest, including the NOVs noted in the paragraph above. The NOV indicated the USEPA may: (1) issue an order requiring compliance with the requirements of the Ohio SIP; or (2) bring a civil action seeking injunctive relief and civil penalties of up to $27,500 per day for each violation. To date, neither action has been taken. DP&L cannot predict the outcome of this matter. | |
On March 13, 2008, Duke Energy, the operator of the Zimmer Station, received an NOV and a Finding of Violation (FOV) from the USEPA alleging violations of the CAA, the Ohio SIP and air permits for the station in areas including SO2, opacity and increased heat input. A second NOV and FOV with similar allegations were received by Duke Energy on November 4, 2010. Also in 2010, the USEPA issued an NOV to Zimmer for excess emissions. DP&L is a co-owner of the Zimmer Station and could be affected by the eventual resolution of these matters. Duke Energy is expected to act on behalf of itself and the co-owners with respect to these matters. DP&L is unable to predict the outcome of these matters. | |
Notices of Violation Involving Wholly Owned Stations | |
In 2007, the Ohio EPA and the USEPA issued NOVs to DP&L for alleged violations of the CAA at the Hutchings Station. The NOVs alleged deficiencies relate to stack opacity and particulate emissions. On November 18, 2009, the USEPA issued an NOV to DP&L for alleged NSR violations of the CAA at the Hutchings Station relating to capital projects performed in 2001 involving Unit 3 and Unit 6. DP&L did not believe that the projects described in the November 2009 NOV were modifications subject to NSR. As part of a settlement with the USEPA, DP&L signed a Consent Agreement and Final Order (CAFO) that was filed on September 26, 2013. The CAFO resolves the opacity and particulate emissions NOV at the Hutchings Station and requires that all six coal-fired units at Hutchings cease operating on coal by September 30, 2013, and includes an immaterial penalty and the completion of a Supplemental Environmental Project of $0.2 million within one year. The units were disabled for coal operations prior to September 30, 2013. DP&L also resolved all issues associated with the Ohio EPA NOV through a settlement signed October 4, 2013 that included the payment of an immaterial penalty. | |
Environmental Matters Related to Water Quality, Waste Disposal and Ash Ponds | |
Clean Water Act – Regulation of Water Intake | |
On July 9, 2004, the USEPA issued final rules pursuant to the Clean Water Act governing existing facilities that have cooling water intake structures. The rules required an assessment of impingement and/or entrainment of organisms as a result of cooling water withdrawal. A number of parties appealed the rules. In April 2009, the U.S. Supreme Court ruled that the USEPA did have the authority to compare costs with benefits in determining the best technology available. The USEPA released new proposed regulations on March 28, 2011, which were published in the Federal Register on April 20, 2011. We submitted comments to the proposed regulations on August 17, 2011. In late 2013, the USEPA announced that the release of the final rules would be delayed until November 20, 2013. We do not yet know the impact these proposed rules, when finalized, will have on our operations. | |
Clean Water Act – Regulation of Water Discharge | |
In December 2006, DP&L submitted a renewal application for the Stuart Station NPDES permit that was due to expire on June 30, 2007. The Ohio EPA issued a revised draft permit that was received on November 12, 2008. In September 2010, the USEPA formally objected to the November 12, 2008 revised permit due to questions regarding the basis for the alternate thermal limitation. At DP&L’s request, a public hearing was held on March 23, 2011 where DP&L presented its position on the issue and provided written comments. In a letter to the Ohio EPA dated September 28, 2011, the USEPA reaffirmed its objection to the revised permit as previously drafted by the Ohio EPA. This reaffirmation stipulated that if the Ohio EPA does not re-draft the permit to address the USEPA’s objection, then the authority for issuing the permit will pass to the USEPA. The Ohio EPA issued another draft permit in December 2011 and a public hearing was held on February 2, 2012. The draft permit would require DP&L, over the 54 months following issuance of a final permit, to take undefined actions to lower the temperature of its discharged water to a level unachievable by the station under its current design or alternatively make other significant modifications to the cooling water system. DP&L submitted comments to the draft permit. In November 2012, the Ohio EPA issued another draft which included a compliance schedule for performing a study to justify an alternate thermal limitation and to which DP&L submitted comments. In December 2012, the USEPA formally withdrew its objection to the permit. On January 7, 2013, the Ohio EPA issued a final permit. On February 1, 2013, DP&L appealed various aspects of the final permit to the Environmental Review Appeals Commission and a hearing has been scheduled for May 2014. Depending on the outcome of the appeals process, the effects could be material to DP&L’s operations. | |
In September 2009, the USEPA announced that it will be revising technology-based regulations governing water discharges from steam electric generating facilities. The rulemaking included the collection of information via an industry-wide questionnaire as well as targeted water sampling efforts at selected facilities. On April 19, 2013, the USEPA announced a proposed new rule regulating discharge of pollutants from various waste streams associated with steam EGUs. The proposal was published in the Federal Register on June 7, 2013. Following a comment period which ended September 20, 2013, the rule is expected to be finalized by May 2014. At present, DP&L is reviewing the proposed rule and is currently unable to predict the impact this rulemaking will have on its operations. | |
In August 2012, DP&L submitted an application for the renewal of the Killen Station NPDES permit which expired in January 2013. At present, the outcome of this proceeding is not known. The Killen Station has continued to operate under its existing permit. | |
In April 2012, DP&L received an NOV from the Ohio EPA related to the construction of the Carter Hollow landfill at the Stuart Station. The NOV indicated that construction activities caused sediment to flow into downstream creeks. In addition, the U.S. Army Corps of Engineers issued a Cease and Desist order followed by a notice suspending the previously issued Corps permit authorizing work associated with the landfill. On September 25, 2013, a settlement with the USEPA was filed which included immaterial penalties paid in October 2013. DP&L is working with the Corps to have the permit reinstated. The landfill’s construction schedule is still uncertain. | |
Regulation of Waste Disposal | |
In September 2002, DP&L and other parties received a special notice that the USEPA considers us to be a PRP for the clean-up of hazardous substances at the South Dayton Dump landfill site. In August 2005, DP&L and other parties received a general notice regarding the performance of a Remedial Investigation and Feasibility Study (RI/FS) under a Superfund Alternative Approach. In October 2005, DP&L received a special notice letter inviting it to enter into negotiations with the USEPA to conduct the RI/FS. No recent activity has occurred with respect to that notice or PRP status. However, on August 25, 2009, the USEPA issued an Administrative Order requiring that access to DP&L’s service center building site, which is across the street from the landfill site, be given to the USEPA and the existing PRP group to help determine the extent of the landfill site’s contamination as well as to assess whether certain chemicals used at the service center building site might have migrated through groundwater to the landfill site. DP&L granted such access and drilling of soil borings and installation of monitoring wells occurred in late 2009 and early 2010. On May 24, 2010, three members of the existing PRP group, Hobart Corporation, Kelsey-Hayes Company and NCR Corporation, filed a civil complaint in the United States District Court for the Southern District of Ohio against DP&L and numerous other defendants alleging that DP&L and the other defendants contributed to the contamination at the South Dayton Dump landfill site and seeking reimbursement of the PRP group’s costs associated with the investigation and remediation of the site. On February 10, 2011, the Court dismissed claims against DP&L that related to allegations that chemicals used by DP&L at its service center contributed to the landfill site’s contamination. The Court, however, did not dismiss claims alleging financial responsibility for remediation costs based on hazardous substances from DP&L that were allegedly directly delivered by truck to the landfill. Discovery, including depositions of past and present DP&L employees, was conducted in 2012. On February 8, 2013, the Court granted DP&L’s motion for summary judgment on statute of limitations grounds with respect to claims seeking a contribution toward the costs that are expected to be incurred by the PRP group in performing an RI/FS. That summary judgment ruling was appealed on March 4, 2013, and the appeal is pending. DP&L is unable to predict the outcome of the appeal. Additionally, the Court’s ruling does not address future litigation that may arise with respect to actual remediation costs. While DP&L is unable to predict the outcome of these matters, if DP&L were required to contribute to the clean-up of the site, it could have a material adverse effect on its operations. | |
Beginning in mid-2012, the USEPA began investigating whether explosive or other dangerous conditions exist under structures located at or near the South Dayton Dump landfill site. In October 2012, DP&L received a request from the PRP group’s consultant to conduct additional soil and groundwater sampling on DP&L’s service center property. After informal discussions with the USEPA, DP&L complied with this sampling request and the sampling was conducted in February 2013. On February 28, 2013, the plaintiffs group referenced above entered into an Administrative Settlement Agreement Consent Order (ASACO) that establishes procedures for further sub-slab testing under structures at the South Dayton Dump landfill site and remediation of vapor intrusion issues relating to trichloroethylene (TCE), percholorethylene (PCE), and methane. On April 16, 2013, the plaintiffs group filed a new complaint against DP&L and approximately 25 other defendants alleging that they share liability for these costs. DP&L will oppose the allegations that it bears any responsibility under the February 2013 ASACO and will actively oppose any attempt that the plaintiffs group may have to expand the scope of the new complaint to resurrect issues dismissed by the Court in February 2013 under the first complaint. | |
In December 2003, DP&L and other parties received a special notice that the USEPA considers us to be a PRP for the clean-up of hazardous substances at the Tremont City landfill site. Information available to DP&L does not demonstrate that it contributed hazardous substances to the site. While DP&L is unable to predict the outcome of this matter, if DP&L were required to contribute to the clean-up of the site, it could have a material adverse effect on its operations. | |
On April 7, 2010, the USEPA published an Advance Notice of Proposed Rulemaking announcing that it is reassessing existing regulations governing the use and distribution in commerce of polychlorinated biphenyls (PCBs). While this reassessment is in the early stages and the USEPA is seeking information from potentially affected parties on how it should proceed, the outcome could have a material effect on DP&L. The USEPA has indicated that the official release date for a proposed rule is projected to be sometime in July 2014. | |
Regulation of Ash Ponds | |
In March 2009, the USEPA, through a formal Information Collection Request, collected information on ash pond facilities across the country, including those at the Killen and Stuart Stations. Subsequently, the USEPA collected similar information for the Hutchings Station. | |
In August 2010, the USEPA conducted an inspection of the Hutchings Station ash ponds. In June 2011, the USEPA issued a final report from the inspection including recommendations relative to the Hutchings Station ash ponds. DP&L is unable to predict whether there will be additional USEPA action relative to DP&L’s proposed plan to address these recommendations or the effect on our operations that might arise under a different plan. | |
In June 2011, the USEPA conducted an inspection of the Killen Station ash ponds. In May 2012, we received a draft report on the inspection. DP&L submitted comments on the draft report in June 2012. On March 14, 2013, DP&L received the final report on the inspection of the Killen Station ash pond inspection from the USEPA which included recommended actions. DP&L has submitted a response with its actions to the USEPA. There were no material compliance requirements included in the report. | |
There has been increasing advocacy to regulate coal combustion byproducts under the Resource Conservation Recovery Act (RCRA). On June 21, 2010, the USEPA published a proposed rule seeking comments on two options under consideration for the regulation of coal combustion byproducts including regulating the material as a hazardous waste under RCRA Subtitle C or as a solid waste under RCRA Subtitle D. Litigation has been filed by several groups seeking a court-ordered deadline for the issuance of a final rule which the USEPA has opposed. At present, the timing for a final rule regulating coal combustion byproducts cannot be determined, but the USEPA has stated possibly by 2014. If coal combustion byproducts are regulated as hazardous waste, DP&L would expect such a development to have a material adverse effect on its operations. | |
Notice of Violation Involving Co-Owned Units | |
On September 9, 2011, DP&L received an NOV from the USEPA with respect to its co-owned Stuart Station based on a compliance evaluation inspection conducted by the USEPA and the Ohio EPA in 2009. The notice alleged non-compliance by DP&L with certain provisions of the RCRA, the Clean Water Act NPDES permit program and the station’s storm water pollution prevention plan. The notice requested that DP&L respond with the actions it has subsequently taken or plans to take to remedy the USEPA’s findings and ensure that further violations will not occur. Based on its review of the findings, although there can be no assurance, we believe that the notice will not result in any material effect on DP&L’s results of operations, financial position or cash flow. | |
Legal and Other Matters | |
In February 2007, DP&L filed a lawsuit in the United States District Court for the Southern District of Ohio against Appalachian Fuels, LLC (“Appalachian”) seeking damages incurred due to Appalachian’s failure to supply approximately 1.5 million tons of coal to two commonly owned stations under a coal supply agreement, of which approximately 570 thousand tons was DP&L’s share. DP&L obtained replacement coal to meet its needs. The supplier has denied liability, and is currently in federal bankruptcy proceedings in which DP&L is participating as an unsecured creditor. DP&L is unable to determine the ultimate resolution of this matter. DP&L has not recorded any assets relating to possible recovery of costs in this lawsuit. | |
Business_Segments
Business Segments | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Business Segments [Abstract] | ' | |||||||||||||||
Business Segments | ' | |||||||||||||||
11. Business Segments | ||||||||||||||||
DPL operates through two segments consisting of the operations of two of its wholly owned subsidiaries, DP&L (Utility segment) and DPLER, including the results of DPLER’s wholly owned subsidiary, MC Squared (Competitive Retail segment). This is how we view our business and make decisions on how to allocate resources and evaluate performance. | ||||||||||||||||
The Utility segment is comprised of DP&L’s electric generation, transmission and distribution businesses which generate and sell electricity to residential, commercial, industrial and governmental customers. Electricity sold to DP&L’s standard service offer customers is primarily generated at eight coal-fired power plants and DP&L distributes power to more than 513,000 retail customers who are located in a 6,000 square mile area of West Central Ohio. DP&L also sells electricity to DPLER and any excess energy and capacity is sold into the wholesale market. DP&L’s transmission and distribution businesses are subject to rate regulation by federal and state regulators while rates for its generation business are deemed competitive under Ohio law. | ||||||||||||||||
The Competitive Retail segment is comprised of the DPLER and MC Squared competitive retail electric service businesses which sell retail electric energy under contract to residential, commercial, industrial and governmental customers who have selected DPLER or MC Squared as their alternative electric supplier. The Competitive Retail segment sells electricity to approximately 281,000 customers located throughout Ohio and in Illinois. This number includes 131,000 customers in Northern Illinois of MC Squared, a Chicago-based retail electricity supplier, which was acquired by DPLER in February 2011. Due to increased competition in Ohio, we have increased the number of employees and resources assigned to manage the Competitive Retail segment and increased its marketing to customers. The Competitive Retail segment’s electric energy used to meet its sales obligations was purchased from DP&L and PJM. The majority of intercompany sales from DP&L to DPLER are based on fixed-price contracts for each DPLER customer; the price approximates market prices for wholesale power at the inception of each customer’s contract. The Competitive Retail segment has no transmission or generation assets. The operations of the Competitive Retail segment are not subject to cost-of-service rate regulation by federal or state regulators. | ||||||||||||||||
Included in the “Other” column in the following tables are other businesses that do not meet the GAAP requirements for disclosure as reportable segments as well as certain corporate costs including interest expense on DPL’s debt. | ||||||||||||||||
Management evaluates segment performance based on gross margin. The accounting policies of the reportable segments are the same as those described in Note 1 – Overview and Summary of Significant Accounting Policies. Intersegment sales and profits are eliminated in consolidation. | ||||||||||||||||
The following tables present financial information for each of DPL’s reportable business segments: | ||||||||||||||||
$ in millions | Utility | Competitive Retail | Other | Adjustments and Eliminations | DPL Consolidated | |||||||||||
For the three months ended September 30, 2013 | ||||||||||||||||
Revenues from external customers | $ | 289.3 | $ | 139.7 | $ | 12.2 | $ | - | $ | 441.2 | ||||||
Intersegment revenues | 123.8 | - | 1.0 | -124.8 | - | |||||||||||
Total revenues | 413.1 | 139.7 | 13.2 | -124.8 | 441.2 | |||||||||||
Fuel | 96.7 | - | 2.9 | 0.1 | 99.7 | |||||||||||
Purchased power | 110.4 | 125.6 | 0.9 | -123.8 | 113.1 | |||||||||||
Amortization of intangibles | - | - | 1.8 | - | 1.8 | |||||||||||
Gross margin | $ | 206.0 | $ | 14.1 | $ | 7.6 | $ | -1.1 | $ | 226.6 | ||||||
Depreciation and amortization | $ | 35.8 | $ | 0.1 | $ | -2 | $ | - | $ | 33.9 | ||||||
Interest expense | 10.4 | 0.1 | 20.6 | -0.1 | 31.0 | |||||||||||
Income tax expense (benefit) | 13.2 | 1.4 | -3.3 | - | 11.3 | |||||||||||
Net income / (loss) | 40.9 | 2.5 | -10.2 | - | 33.2 | |||||||||||
Cash capital expenditures | $ | 28.3 | $ | - | $ | 1.0 | $ | - | $ | 29.3 | ||||||
At September 30, 2013 | ||||||||||||||||
Total assets | $ | 3,837.5 | $ | 102.8 | $ | 565.8 | $ | - | $ | 4,506.1 | ||||||
$ in millions | Utility | Competitive Retail | Other | Adjustments and Eliminations | DPL Consolidated | |||||||||||
For the three months ended September 30, 2012 | ||||||||||||||||
Revenues from external customers | $ | 313.4 | $ | 145.5 | $ | 12.8 | $ | - | $ | 471.7 | ||||||
Intersegment revenues | 113.4 | - | 0.9 | -114.3 | - | |||||||||||
Total revenues | 426.8 | 145.5 | 13.7 | -114.3 | 471.7 | |||||||||||
Fuel | 108.1 | - | 4.6 | - | 112.7 | |||||||||||
Purchased power | 79.9 | 123.4 | 0.9 | -113.5 | 90.7 | |||||||||||
Amortization of intangibles | - | - | 24.2 | - | 24.2 | |||||||||||
Gross margin | $ | 238.8 | $ | 22.1 | $ | -16 | $ | -0.8 | $ | 244.1 | ||||||
Depreciation and amortization | $ | 36.5 | $ | 0.2 | $ | -3.6 | $ | - | $ | 33.1 | ||||||
Goodwill impairment | - | - | 1,850.0 | - | 1,850.0 | |||||||||||
Fixed asset impairment | 80.8 | - | - | -80.8 | - | |||||||||||
Interest expense | 10.0 | 0.2 | 21.0 | -0.1 | 31.1 | |||||||||||
Income tax expense (benefit) | 6.5 | 5.9 | 7.8 | - | 20.2 | |||||||||||
Net income / (loss) | -11.2 | 10.0 | -1,809.70 | - | -1,810.90 | |||||||||||
Cash capital expenditures | $ | 52.2 | $ | - | $ | 0.4 | $ | - | $ | 52.6 | ||||||
At December 31, 2012 | ||||||||||||||||
Total assets | $ | 3,464.2 | $ | 99.2 | $ | 683.9 | $ | - | $ | 4,247.3 | ||||||
$ in millions | Utility | Competitive Retail | Other | Adjustments and Eliminations | DPL Consolidated | |||||||||||
For the nine months ended September 30, 2013 | ||||||||||||||||
Revenues from external customers | $ | 805.5 | $ | 381.9 | $ | 23.3 | $ | - | $ | 1,210.7 | ||||||
Intersegment revenues | 336.0 | - | 3.0 | -339 | - | |||||||||||
Total revenues | 1,141.5 | 381.9 | 26.3 | -339 | 1,210.7 | |||||||||||
Fuel | 269.6 | - | 4.2 | 0.2 | 274.0 | |||||||||||
Purchased power | 276.7 | 340.8 | 1.5 | -336.4 | 282.6 | |||||||||||
Amortization of intangibles | - | - | 5.3 | - | 5.3 | |||||||||||
Gross margin | $ | 595.2 | $ | 41.1 | $ | 15.3 | $ | -2.8 | $ | 648.8 | ||||||
Depreciation and amortization | $ | 104.5 | $ | 0.4 | $ | -5.9 | $ | - | $ | 99.0 | ||||||
Interest expense | 29.7 | 0.4 | 61.5 | -0.5 | 91.1 | |||||||||||
Income tax expense (benefit) | 29.2 | 4.3 | -12.7 | - | 20.8 | |||||||||||
Net income / (loss) | 101.4 | 7.7 | -33.1 | - | 76.0 | |||||||||||
Cash capital expenditures | $ | 95.1 | $ | - | $ | 1.4 | $ | - | $ | 96.5 | ||||||
At September 30, 2013 | ||||||||||||||||
Total assets | $ | 3,837.5 | $ | 102.8 | $ | 565.8 | $ | - | $ | 4,506.1 | ||||||
$ in millions | Utility | Competitive Retail | Other | Adjustments and Eliminations | DPL Consolidated | |||||||||||
For the nine months ended September 30, 2012 | ||||||||||||||||
Revenues from external customers | $ | 887.9 | $ | 367.5 | $ | 32.3 | $ | - | $ | 1,287.7 | ||||||
Intersegment revenues | 285.1 | - | 2.6 | -287.7 | - | |||||||||||
Total revenues | 1,173.0 | 367.5 | 34.9 | -287.7 | 1,287.7 | |||||||||||
Fuel | 272.3 | - | 6.7 | - | 279.0 | |||||||||||
Purchased power | 234.1 | 315.6 | 1.3 | -285.2 | 265.8 | |||||||||||
Amortization of intangibles | - | - | 71.2 | - | 71.2 | |||||||||||
Gross margin | $ | 666.6 | $ | 51.9 | $ | -44.3 | $ | -2.5 | $ | 671.7 | ||||||
Depreciation and amortization | $ | 107.3 | $ | 0.3 | $ | -12 | $ | - | $ | 95.6 | ||||||
Goodwill impairment | - | - | 1,850.0 | - | 1,850.0 | |||||||||||
Fixed asset impairment | 80.8 | - | - | -80.8 | - | |||||||||||
Interest expense | 29.0 | 0.4 | 64.1 | -0.4 | 93.1 | |||||||||||
Income tax expense (benefit) | 39.4 | 15.8 | -14.9 | - | 40.3 | |||||||||||
Net income / (loss) | 58.3 | 17.5 | -1,853.10 | - | -1,777.30 | |||||||||||
Cash capital expenditures | $ | 161.7 | $ | 0.5 | $ | 0.9 | $ | - | $ | 163.1 | ||||||
At December 31, 2012 | ||||||||||||||||
Total assets | $ | 3,464.2 | $ | 99.2 | $ | 683.9 | $ | - | $ | 4,247.3 | ||||||
Summary_of_Significant_Account
Summary of Significant Accounting Policies (Policy) | 9 Months Ended |
Sep. 30, 2013 | |
Description of Business | ' |
Description of Business | |
DPL is a diversified regional energy company organized in 1985 under the laws of Ohio. DPL’s two reportable segments are the Utility segment, comprised of its DP&L subsidiary, and the Competitive Retail segment, comprised of its DPLER operations, which include the operations of DPLER’s wholly owned subsidiary MC Squared. Refer to Note 11 for more information relating to these reportable segments. | |
DP&L is a public utility incorporated in 1911 under the laws of Ohio. DP&L is engaged in the generation, transmission, distribution and sale of electricity to residential, commercial, industrial and governmental customers in a 6,000 square mile area of West Central Ohio. Electricity for DP&L's SSO customers is primarily generated at eight coal-fired power plants and DP&L distributes electricity to more than 513,000 retail customers. Principal industries located in DP&L’s service area include food processing, paper, plastic manufacturing and defense. | |
DP&L's retail generation sales reflect the general economic conditions, seasonal weather patterns of the area and retail competition in the area. DP&L sells any excess energy and capacity into the wholesale market. | |
DPLER sells competitive retail electric service, under contract, to residential, commercial, industrial and governmental customers. DPLER’s operations include those of its wholly owned subsidiary, MC Squared, which was acquired on February 28, 2011. DPLER has approximately 281,000 customers currently located throughout Ohio and Illinois. DPLER does not own any transmission or generation assets, and all of DPLER’s electric energy was purchased from DP&L or PJM to meet its sales obligations. DPLER’s sales reflect the general economic conditions and seasonal weather patterns of the areas it serves. | |
DPL’s other significant subsidiaries include DPLE, which owns and operates peaking generating facilities from which it makes wholesale sales of electricity and MVIC, our captive insurance company that provides insurance services to us and our subsidiaries. All of DPL’s subsidiaries are wholly owned. | |
DPL also has a wholly owned business trust, DPL Capital Trust II, formed for the purpose of issuing trust capital securities to investors. | |
DP&L’s electric transmission and distribution businesses are subject to rate regulation by federal and state regulators while its generation business is deemed competitive under Ohio law. Accordingly, DP&L applies the accounting standards for regulated operations to its electric transmission and distribution businesses and records regulatory assets when incurred costs are expected to be recovered in future customer rates, and regulatory liabilities when current cost recoveries in customer rates relate to expected future costs. | |
DPL and its subsidiaries employed 1,436 people as of September 30, 2013, of which 1,376 were employed by DP&L. Approximately 53% of all DPL employees are under a collective bargaining agreement which expires on October 31, 2014. | |
Financial Statement Presentation | ' |
Financial Statement Presentation | |
DPL’s Condensed Consolidated Financial Statements include the accounts of DPL and its wholly owned subsidiaries except for DPL Capital Trust II which is not consolidated, consistent with the provisions of GAAP. DP&L’s undivided ownership interests in certain coal-fired generating facilities and numerous transmission facilities are included in the financial statements at amortized cost, which was adjusted to fair value at the Merger date for DPL. Operating revenues and expenses of these facilities are included on a pro rata basis in the corresponding lines in the Condensed Consolidated Statements of Results of Operations. See Note 4 for more information. Certain amounts in the 2012 financial statements have been reclassified to conform to the 2013 presentation. | |
All material intercompany accounts and transactions are eliminated in consolidation. | |
These financial statements have been prepared in accordance with GAAP for interim financial statements, the instructions of Form 10-Q and Regulation S-X. Accordingly, certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with GAAP have been omitted from this interim report. Therefore, our interim financial statements in this report should be read along with the annual financial statements included in our Form 10-K for the fiscal year ended December 31, 2012. | |
In the opinion of our management, the Condensed Consolidated Financial Statements presented in this report contain all adjustments necessary to fairly state our financial position as of September 30, 2013; our results of operations for the three and nine months ended September 30, 2013 and 2012 and our cash flows for the nine months ended September 30, 2013 and 2012. Unless otherwise noted, all adjustments are normal and recurring in nature. Due to various factors, including but not limited to, seasonal weather variations, the timing of outages of EGUs, changes in economic conditions involving commodity prices and competition, and other factors, interim results for the three and nine months ended September 30, 2013 may not be indicative of our results that will be realized for the full year ending December 31, 2013. | |
The preparation of financial statements in conformity with GAAP requires us to make estimates and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the revenues and expenses of the periods reported. Actual results could differ from these estimates. Significant items subject to such estimates and judgments include: the carrying value of property, plant and equipment; unbilled revenues; the valuation of derivative instruments; the valuation of insurance and claims liabilities; the valuation of allowances for receivables and deferred income taxes; regulatory assets and liabilities; liabilities recorded for income tax exposures; litigation; contingencies; the valuation of AROs; assets and liabilities related to employee benefits; goodwill; and intangibles. | |
Goodwill Impairment | ' |
Goodwill Impairment | |
In connection with the Merger, DPL remeasured the carrying amount of all of its assets and liabilities to fair value, which resulted in the recognition of goodwill assigned to DPL’s two reporting units, DPLER and the DP&L Reporting Unit, which includes DP&L and other entities. FASC 350 “Intangibles – Goodwill and Other” requires that goodwill be tested for impairment at the reporting unit level at least annually or more frequently if impairment indicators are present. DPL’s annual testing date for goodwill is October 1 of each year. In evaluating the potential impairment of goodwill, we make estimates and assumptions about revenue, operating cash flows, capital expenditures, growth rates and discount rates based on our budgets and long term forecasts, macroeconomic projections, and current market expectations of returns on similar assets. There are inherent uncertainties related to these factors and management’s judgment in applying these factors. Generally, the fair value of a reporting unit is determined using a discounted cash flow valuation model. We could be required to evaluate the potential impairment of goodwill outside of the required annual assessment process if we experience situations, including but not limited to: deterioration in general economic conditions; changes to our operating or regulatory environment; increased competitive environment; increase in fuel costs, particularly when we are unable to pass its effect to customers; negative or declining cash flows; loss of a key contract or customer, particularly when we are unable to replace it on equally favorable terms; or adverse actions or assessments by a regulator. These types of events and the resulting analyses could result in goodwill impairment expense, which could substantially affect our results of operations for those periods. | |
Receivables | ' |
Sale of Receivables | |
In the first quarter of 2012, DPLER began selling receivables from DPLER customers in Duke Energy’s territory to Duke Energy. These sales are at face value for cash at the amounts billed for DPLER customers’ use of energy. Total receivables sold to Duke Energy during the three months ended September 30, 2013 and 2012 were $6.1 million and $6.1 million, respectively. Total receivables sold to Duke Energy during the nine months ended September 30, 2013 and 2012 were $15.6 million and $11.3 million, respectively. Similarly, MC Squared sells receivables from their customers in ComEd territory to ComEd. Total receivables sold to ComEd during the three months ended September 30, 2013 and 2012 were $22.6 million and $0.4 million, respectively. Total receivables sold to ComEd during the nine months ended September 30, 2013 and 2012 were $57.8 million and $0.4 million, respectively. There is no recourse or any other continuing involvement associated with the sold receivables | |
Property, Plant and Equipment | ' |
Property, Plant & Equipment | |
We record our ownership share of our undivided interest in jointly-held plants as an asset in property, plant and equipment. Property, plant and equipment are stated at cost except for adjustments of generating plants to fair market value recorded in connection with the Merger and the adjustment of certain intangible assets to fair market value in connection with the 2011 acquisition of MC Squared by DPLER. For regulated transmission and distribution property, cost includes direct labor and material, allocable overhead expenses and an allowance for funds used during construction (AFUDC). AFUDC represents the cost of borrowed funds and equity used to finance regulated construction projects. For non-regulated property including unregulated generation property, cost is similarly defined except financing costs are reflected as capitalized interest without an equity component. | |
Capitalization of AFUDC and interest ceases at either project completion or at the date specified by regulators. The total of AFUDC and capitalized interest was $0.4 million and $0.9 million for the three months ended September 30, 2013 and 2012, respectively. The total AFUDC and capitalized interest was $1.2 million and $3.4 million during the nine months ended September 30, 2013 and 2012, respectively. | |
For substantially all depreciable property, when a unit of property is retired, the original cost of that property less any salvage value is charged to Accumulated depreciation and amortization. | |
Property is evaluated for impairment when events or changes in circumstances indicate that its carrying amount may not be recoverable. | |
Intangibles | ' |
Intangibles | |
Intangibles include emission allowances, renewable energy credits, customer relationships, customer contracts and the value of our ESP. Emission allowances are carried on a first-in, first-out (FIFO) basis for purchased emission allowances. In addition, we recorded emission allowances at their fair value as of the Merger date. Net gains or losses on the sale of excess emission allowances, representing the difference between the sales proceeds and the carrying value of emission allowances, are recorded as a component of our fuel costs and are reflected in Operating income when realized. During the three and nine months ended September 30, 2013 and 2012, DPL gains from the sale of emission allowances were immaterial. | |
Customer relationships recognized as part of the purchase accounting associated with the Merger are amortized over ten to seventeen years and customer contracts are amortized over the average length of the contracts. The value of the ESP was amortized over one year on a straight-line basis. Emission allowances are amortized as they are used in our operations on a FIFO basis. Renewable energy credits are amortized as they are used or retired. | |
Accounting for Taxes Collected from Customers and Remitted to Governmental Authorities | ' |
Accounting for Taxes Collected from Customers and Remitted to Governmental Authorities | |
DPL collects certain excise taxes levied by state or local governments from its customers. These taxes are accounted for on a net basis and recorded as a reduction in revenues. The amounts for the three months ended September 30, 2013 and 2012 were $13.0 million and $13.8 million, respectively. The amounts for the nine months ended September 30, 2013 and 2012 were $38.0 million and $38.5 million, respectively | |
New Accounting Pronouncements, Policy [Policy Text Block] | ' |
Recently Adopted Accounting Standards | |
Offsetting Assets and Liabilities | |
In December 2011, the FASB issued ASU 2011-11 “Disclosures about Offsetting Assets and Liabilities” (ASU 2011-11) effective for interim and annual reporting periods beginning on or after January 1, 2013. We adopted this ASU on January 1, 2013. This standard was clarified by ASU 2013-01 “Scope Clarification of Disclosures about Offsetting Assets and Liabilities”, which also was effective on January 1, 2013. This standard updates FASC Topic 210 “Balance Sheet.” ASU 2011-11 updates the disclosures for financial instruments and derivatives to provide more transparent information around the offsetting of assets and liabilities. Entities are required to disclose both gross and net information about both instruments and transactions eligible for offset in the statement of financial position and/or subject to an agreement similar to a master netting agreement. In ASU 2013-01, the FASB clarified that the disclosures were not intended to include trade receivables and other contracts for financial instruments that may be subject to a master netting arrangement. We adopted this rule which resulted in enhanced disclosures, but did not have an effect on our overall results of operations, financial position or cash flows. | |
Testing Indefinite-Lived Intangible Assets for Impairments | |
In July 2012, the FASB issued ASU 2012-02 “Testing Indefinite-Lived Intangible Assets for Impairment” (ASU 2012-02) effective for interim and annual impairment tests performed for fiscal years beginning after September 15, 2012. We adopted this ASU on January 1, 2013. This standard updates FASC Topic 350 “Intangibles-Goodwill and Other.” ASU 2012-02 permits an entity first to assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative impairment test in accordance with FASC Subtopic 350-30. As this rule only affected disclosures, it did not have an effect on our overall results of operations, financial position or cash flows. | |
Comprehensive Income | |
The FASB recently issued ASU 2013-02 “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income” effective for annual and interim periods beginning after December 15, 2012. This ASU does not change the current requirements for reporting net income or OCI in financial statements. However, this ASU requires an entity to provide information about the amounts reclassified out of AOCI by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the Notes, significant amounts reclassified out of AOCI by the respective line items of net income, but only if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under GAAP that provide additional detail about those amounts. We adopted this rule which resulted in enhanced disclosures, but it did not have an effect on our overall results of operations, financial position or cash flows. | |
DP&L [Member] | ' |
Description of Business | ' |
Description of Business | |
DP&L is a public utility incorporated in 1911 under the laws of Ohio. DP&L is engaged in the generation, transmission, distribution and sale of electricity to residential, commercial, industrial and governmental customers in a 6,000 square mile area of West Central Ohio. Electricity for DP&L's SSO customers is primarily generated at eight coal-fired power plants and DP&L distributes electricity to more than 513,000 retail customers. Principal industries located in DP&L’s service area include food processing, paper, plastic manufacturing and defense. DP&L is a wholly owned subsidiary of DPL. | |
DP&L's retail generation sales reflect the general economic conditions, seasonal weather patterns of the area and retail competition in the area. DP&L sells any excess energy and capacity into the wholesale market. | |
DP&L’s electric transmission and distribution businesses are subject to rate regulation by federal and state regulators while its generation business is deemed competitive under Ohio law. Accordingly, DP&L applies the accounting standards for regulated operations to its electric transmission and distribution businesses and records regulatory assets when incurred costs are expected to be recovered in future customer rates, and regulatory liabilities when current cost recoveries in customer rates relate to expected future costs. | |
DP&L employed 1,376 people as of September 30, 2013. Approximately 55% of all employees are under a collective bargaining agreement which expires on October 31, 2014. | |
Financial Statement Presentation | ' |
Financial Statement Presentation | |
DP&L does not have any subsidiaries. DP&L has undivided ownership interests in seven electric generating facilities and numerous transmission facilities which are included in the financial statements at amortized cost. Operating revenues and expenses of these facilities are included on a pro rata basis in the corresponding lines in the Condensed Statements of Results of Operations. See Note 4 for more information. Certain amounts in the 2012 financial statements have been reclassified to conform to the 2013 presentation. | |
These financial statements have been prepared in accordance with GAAP for interim financial statements, the instructions of Form 10-Q and Regulation S-X. Accordingly, certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with GAAP have been omitted from this interim report. Therefore, our interim financial statements in this report should be read along with the annual financial statements included in our Form 10-K for the fiscal year ended December 31, 2012. | |
In the opinion of our management, the Condensed Financial Statements presented in this report contain all adjustments necessary to fairly state our financial position as of September 30, 2013; our results of operations for the three and nine months ended September 30, 2013 and 2012 and our cash flows for the nine months ended September 30, 2013 and 2012. Unless otherwise noted, all adjustments are normal and recurring in nature. Due to various factors, including but not limited to, seasonal weather variations, the timing of outages of EGUs, changes in economic conditions involving commodity prices and competition, and other factors, interim results for the three and nine months ended September 30, 2013 may not be indicative of our results that will be realized for the full year ending December 31, 2013. | |
The preparation of financial statements in conformity with GAAP requires us to make estimates and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the revenues and expenses of the periods reported. Actual results could differ from these estimates. Significant items subject to such estimates and judgments include: the carrying value of property, plant and equipment; unbilled revenues; the valuation of derivative instruments; the valuation of insurance and claims liabilities; the valuation of allowances for receivables and deferred income taxes; regulatory assets and liabilities; liabilities recorded for income tax exposures; litigation; contingencies; the valuation of AROs; and assets and liabilities related to employee benefits. | |
Property, Plant and Equipment | ' |
Property, Plant & Equipment | |
We record our ownership share of our undivided interest in jointly-held plants as an asset in property, plant and equipment. Property, plant and equipment are stated at cost except for the impact of asset impairments recorded for certain generating plants. For regulated transmission and distribution property, cost includes direct labor and material, allocable overhead expenses and an allowance for funds used during construction (AFUDC). AFUDC represents the cost of borrowed funds and equity used to finance regulated construction projects. For non-regulated property including unregulated generation property, cost is similarly defined except financing costs are reflected as capitalized interest without an equity component. | |
Capitalization of AFUDC and interest ceases at either project completion or at the date specified by regulators. The total of AFUDC and capitalized interest was $0.4 million and $0.9 million for the three months ended September 30, 2013 and 2012, respectively. The total of AFUDC and capitalized interest was $1.2 million and $3.4 million for the nine months ended September 30, 2013 and 2012, respectively. | |
For substantially all depreciable property, when a unit of property is retired, the original cost of that property less any salvage value is charged to Accumulated depreciation and amortization. | |
Property is evaluated for impairment when events or changes in circumstances indicate that its carrying amount may not be recoverable. | |
Intangibles | ' |
Intangibles | |
Intangibles consist of emission allowances and renewable energy credits. Emission allowances are carried on a first-in, first-out (FIFO) basis for purchased emission allowances. Net gains or losses on the sale of excess emission allowances, representing the difference between the sales proceeds and the carrying value of emission allowances, are recorded as a component of our fuel costs and are reflected in Operating income when realized. Emission allowances are amortized as they are used in our operations. Renewable energy credits are amortized as they are used or retired. During the three and nine months ended September 30, 2013 and 2012, DP&L gains from the sale of emission allowances were immaterial. | |
Accounting for Taxes Collected from Customers and Remitted to Governmental Authorities | ' |
Accounting for Taxes Collected from Customers and Remitted to Governmental Authorities | |
DP&L collects certain excise taxes levied by state or local governments from its customers. These taxes are accounted for on a net basis and are recorded as a reduction in revenues. The amounts for the three months ended September 30, 2013 and 2012 were $13.0 million and $13.8 million, respectively. The amounts for the nine months ended September 30, 2013 and 2012 were $38.0 million and $38.5 million, respectively. | |
New Accounting Pronouncements, Policy [Policy Text Block] | ' |
Recently Adopted Accounting Standards | |
Offsetting Assets and Liabilities | |
In December 2011, the FASB issued ASU 2011-11 “Disclosures about Offsetting Assets and Liabilities” (ASU 2011-11) effective for interim and annual reporting periods beginning on or after January 1, 2013. We adopted this ASU on January 1, 2013. This standard was clarified by ASU 2013-01 “Scope Clarification of Disclosures about Offsetting Assets and Liabilities”, which also was effective on January 1, 2013. This standard updates FASC Topic 210 “Balance Sheet.” ASU 2011-11 updates the disclosures for financial instruments and derivatives to provide more transparent information around the offsetting of assets and liabilities. Entities are required to disclose both gross and net information about both instruments and transactions eligible for offset in the statement of financial position and/or subject to an agreement similar to a master netting agreement. In ASU 2013-01, the FASB clarified that the disclosures were not intended to include trade receivables and other contracts for financial instruments that may be subject to a master netting arrangement. We adopted this rule which resulted in enhanced disclosures, but did not have an effect on our overall results of operations, financial position or cash flows. | |
Testing Indefinite-Lived Intangible Assets for Impairments | |
In July 2012, the FASB issued ASU 2012-02 “Testing Indefinite-Lived Intangible Assets for Impairment” (ASU 2012-02) effective for interim and annual impairment tests performed for fiscal years beginning after September 15, 2012. We adopted this ASU on January 1, 2013. This standard updates FASC Topic 350 “Intangibles-Goodwill and Other.” ASU 2012-02 permits an entity first to assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative impairment test in accordance with FASC Subtopic 350-30. As this rule only affected disclosures, it did not have an effect on our overall results of operations, financial position or cash flows. | |
Comprehensive Income | |
The FASB recently issued ASU 2013-02 “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income” effective for annual and interim periods beginning after December 15, 2012. This ASU does not change the current requirements for reporting net income or OCI in financial statements. However, this ASU requires an entity to provide information about the amounts reclassified out of AOCI by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the Notes, significant amounts reclassified out of AOCI by the respective line items of net income but only if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under GAAP that provide additional detail about those amounts. We adopted this rule which resulted in enhanced disclosures, but it did not have an effect on our overall results of operations, financial position or cash flows. | |
Related Party Transactions | ' |
Related Party Transactions | |
In the normal course of business, DP&L enters into transactions with other subsidiaries of DPL. The following table provides a summary of these transactions: | |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Overview and Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||
Related Party Transactions | ' | ||||||||||||
Three months ended | Nine months ended | ||||||||||||
September 30, | September 30, | ||||||||||||
$ in millions | 2013 | 2012 | 2013 | 2012 | |||||||||
DP&L Revenues: | |||||||||||||
Sales to DPLER (a) | $ | 93.9 | $ | 93.3 | $ | 254.0 | $ | 263.7 | |||||
Sales to MC Squared (b) | $ | 30.0 | $ | 19.8 | $ | 82.4 | $ | 20.1 | |||||
DP&L Operations and Maintenance Expenses: | |||||||||||||
Premiums paid for insurance services provided by MVIC (c) | $ | -0.7 | $ | -0.7 | $ | -2.2 | $ | -1.9 | |||||
Expense recoveries for services provided to DPLER (d) | $ | 1.3 | $ | 1.2 | $ | 3.8 | $ | 2.7 | |||||
September 30, | |||||||||||||
DP&L Customer security deposits: | 2013 | 2012 | |||||||||||
Deposits received from DPLER (e) | $ | 19.2 | $ | - | |||||||||
Supplemental_Financial_Informa1
Supplemental Financial Information (Tables) | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Schedule of Supplemental Financial Information | ' | ||||||||||||||
September 30, | December 31, | ||||||||||||||
$ in millions | 2013 | 2012 | |||||||||||||
Accounts receivable, net: | |||||||||||||||
Unbilled revenue | $ | 58.3 | $ | 75.2 | |||||||||||
Customer receivables | 107.8 | 98.2 | |||||||||||||
Amounts due from partners in jointly owned plants | 10.2 | 19.7 | |||||||||||||
Coal sales | - | 1.6 | |||||||||||||
Other | 5.1 | 14.6 | |||||||||||||
Provision for uncollectible accounts | -1.2 | -1.1 | |||||||||||||
Total accounts receivable, net | $ | 180.2 | $ | 208.2 | |||||||||||
Inventories, at average cost: | |||||||||||||||
Fuel and limestone | $ | 51.3 | $ | 67.3 | |||||||||||
Plant materials and supplies | 38.3 | 41.0 | |||||||||||||
Other | 2.0 | 1.8 | |||||||||||||
Total inventories, at average cost | $ | 91.6 | $ | 110.1 | |||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||
$ in millions | Gains / (losses) on available-for-sale securities | Gains / (losses) on cash flow hedges | Change in unfunded pension obligation | Total | |||||||||||
Balance January 1, 2013 | $ | 0.4 | $ | -2.5 | $ | -1.8 | $ | -3.9 | |||||||
Other comprehensive income / (loss) before reclassifications | -1.3 | 18.7 | - | 17.4 | |||||||||||
Amounts reclassified from accumulated other comprehensive income / (loss) | 1.4 | 3.0 | 0.3 | 4.7 | |||||||||||
Net current period other comprehensive income | 0.1 | 21.7 | 0.3 | 22.1 | |||||||||||
Balance September 30, 2013 | $ | 0.5 | $ | 19.2 | $ | -1.5 | $ | 18.2 | |||||||
Reclassification out of Accumulated Other Comprehensive Income | ' | ||||||||||||||
Details about Accumulated Other Comprehensive Income / (Loss) components | Affected line item in the Condensed Statements of Operations | Three months ended September 30, | Nine months ended September 30, | ||||||||||||
$ in millions | 2013 | 2012 | 2013 | 2012 | |||||||||||
Gains and losses on Available-for-sale securities activity (Note 8): | |||||||||||||||
Other income / (deductions) | $ | 0.6 | $ | - | $ | 2.1 | $ | - | |||||||
Total before income taxes | 0.6 | - | 2.1 | - | |||||||||||
Tax expense | -0.2 | - | -0.7 | - | |||||||||||
Net of income taxes | 0.4 | - | 1.4 | - | |||||||||||
Gains and losses on cash flow hedges (Note 9): | |||||||||||||||
Interest Expense | - | - | - | 0.2 | |||||||||||
Revenue | 0.5 | 0.1 | 2.2 | -1.7 | |||||||||||
Purchased power | 1.6 | -0.1 | 2.9 | -0.1 | |||||||||||
Total before income taxes | 2.1 | - | 5.1 | -1.6 | |||||||||||
Tax expense | -0.8 | - | -2.1 | 0.8 | |||||||||||
Net of income taxes | 1.3 | - | 3.0 | -0.8 | |||||||||||
Amortization of defined benefit pension items (Note 7): | |||||||||||||||
Reclassification to Other income / (deductions) | - | - | - | -0.1 | |||||||||||
Tax benefit | - | - | 0.3 | - | |||||||||||
Net of income taxes | - | - | 0.3 | - | |||||||||||
Total reclassifications for the period, net of income taxes | $ | 1.7 | $ | - | $ | 4.7 | $ | -0.8 | |||||||
DP&L [Member] | ' | ||||||||||||||
Schedule of Supplemental Financial Information | ' | ||||||||||||||
September 30, | December 31, | ||||||||||||||
$ in millions | 2013 | 2012 | |||||||||||||
Accounts receivable, net: | |||||||||||||||
Unbilled revenue | $ | 33.2 | $ | 48.1 | |||||||||||
Customer receivables | 62.1 | 62.0 | |||||||||||||
Amounts due from partners in jointly owned plants | 10.2 | 19.7 | |||||||||||||
Coal sales | - | 1.6 | |||||||||||||
Other | 27.7 | 29.5 | |||||||||||||
Provision for uncollectible accounts | -1 | -0.9 | |||||||||||||
Total accounts receivable, net | $ | 132.2 | $ | 160.0 | |||||||||||
Inventories, at average cost: | |||||||||||||||
Fuel and limestone | $ | 51.3 | $ | 67.3 | |||||||||||
Plant materials and supplies | 37.1 | 39.8 | |||||||||||||
Other | 2.0 | 1.8 | |||||||||||||
Total inventories, at average cost | $ | 90.4 | $ | 108.9 | |||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||
$ in millions | Gains / (losses) on available-for-sale securities | Gains / (losses) on cash flow hedges | Change in unfunded pension obligation | Total | |||||||||||
Balance January 1, 2013 | $ | 1.0 | $ | 2.6 | $ | -42.3 | $ | -38.7 | |||||||
Other comprehensive income / (loss) before reclassifications | -1.8 | - | - | -1.8 | |||||||||||
Amounts reclassified from accumulated other comprehensive income / (loss) | 1.4 | 2.3 | 2.7 | 6.4 | |||||||||||
Net current period other comprehensive income / (loss) | -0.4 | 2.3 | 2.7 | 4.6 | |||||||||||
Balance September 30, 2013 | $ | 0.6 | $ | 4.9 | $ | -39.6 | $ | -34.1 | |||||||
Reclassification out of Accumulated Other Comprehensive Income | ' | ||||||||||||||
Details about Accumulated Other Comprehensive Income / (Loss) components | Affected line item in the Condensed Statements of Operations | Three months ended September 30, | Nine months ended September 30, | ||||||||||||
$ in millions | 2013 | 2012 | 2013 | 2012 | |||||||||||
Gains and losses on Available-for-sale securities activity | |||||||||||||||
(Note 8): | |||||||||||||||
Other income / (deductions) | $ | 0.6 | $ | - | $ | 2.1 | $ | - | |||||||
Total before income taxes | 0.6 | - | 2.1 | - | |||||||||||
Tax expense | -0.2 | - | -0.7 | - | |||||||||||
Net of income taxes | 0.4 | - | 1.4 | - | |||||||||||
Gains and losses on cash flow hedges (Note 9): | |||||||||||||||
Interest expense | -0.6 | -0.6 | -1.8 | -1.8 | |||||||||||
Revenue | 0.4 | -0.2 | 2.1 | -2.2 | |||||||||||
Purchased power | 2.0 | - | 4.2 | 0.2 | |||||||||||
Total before income taxes | 1.8 | -0.8 | 4.5 | -3.8 | |||||||||||
Tax expense | -0.8 | 0.1 | -2.2 | 0.7 | |||||||||||
Net of income taxes | 1.0 | -0.7 | 2.3 | -3.1 | |||||||||||
Amortization of defined benefit pension items (Note 7): | |||||||||||||||
Reclassification to Other income / (deductions) | 1.4 | 1.6 | 4.2 | 4.6 | |||||||||||
Tax benefit | -0.5 | -0.6 | -1.5 | -1.6 | |||||||||||
Net of income taxes | 0.9 | 1.0 | 2.7 | 3.0 | |||||||||||
Total reclassifications for the period, net of income taxes | $ | 2.3 | $ | 0.3 | $ | 6.4 | $ | -0.1 | |||||||
Regulatory_Assets_and_Liabilit1
Regulatory Assets and Liabilities (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Regulatory Assets and Liabilities | ' | ||||||||||||
$ in millions | Type of Recovery (a) | Amortization through | 30-Sep-13 | 31-Dec-12 | |||||||||
Regulatory assets, current: | |||||||||||||
TCRR, transmission, ancillary and other PJM-related costs | F | Ongoing | $ | 4.5 | $ | 7.0 | |||||||
Fuel and purchased power recovery costs | C | Ongoing | 7.7 | 14.1 | |||||||||
Total regulatory assets, current | $ | 12.2 | $ | 21.1 | |||||||||
Regulatory assets, non-current: | |||||||||||||
Deferred recoverable income taxes | B/C | Ongoing | $ | 32.6 | $ | 35.1 | |||||||
Pension benefits | C | Ongoing | 84.0 | 88.9 | |||||||||
Unamortized loss on reacquired debt | C | Ongoing | 11.2 | 11.9 | |||||||||
Regional transmission organization costs | D | 2014 | 1.5 | 2.6 | |||||||||
Deferred storm costs | D | 25.3 | 24.4 | ||||||||||
CCEM smart grid and AMI infrastructure costs | D | 6.6 | 6.6 | ||||||||||
Energy Efficiency Rider costs | F | Ongoing | 0.8 | 5.2 | |||||||||
Consumer education campaign | D | 3.0 | 3.0 | ||||||||||
Retail settlement system costs | D | 3.1 | 3.1 | ||||||||||
Other costs | 4.3 | 4.7 | |||||||||||
Total regulatory assets, non-current | $ | 172.4 | $ | 185.5 | |||||||||
Regulatory liabilities, current: | |||||||||||||
Other | $ | - | $ | 0.1 | |||||||||
Total regulatory liabilities, current | $ | - | $ | 0.1 | |||||||||
Regulatory liabilities, non-current: | |||||||||||||
Estimated costs of removal - regulated property | $ | 113.4 | $ | 112.1 | |||||||||
Postretirement benefits | 4.6 | 5.0 | |||||||||||
Other | - | 0.2 | |||||||||||
Total regulatory liabilities, non-current | $ | 118.0 | $ | 117.3 | |||||||||
DP&L [Member] | ' | ||||||||||||
Regulatory Assets and Liabilities | ' | ||||||||||||
$ in millions | Type of Recovery (a) | Amortization through | At September 30, 2013 | At December 31, 2012 | |||||||||
Regulatory assets, current: | |||||||||||||
TCRR, transmission, ancillary and other PJM-related costs | F | Ongoing | $ | 4.5 | $ | 7.0 | |||||||
Fuel and purchased power recovery costs | C | Ongoing | 6.3 | 11.3 | |||||||||
Total regulatory assets, current | $ | 10.8 | $ | 18.3 | |||||||||
Regulatory assets, non-current: | |||||||||||||
Deferred recoverable income taxes | B/C | Ongoing | $ | 32.6 | $ | 35.1 | |||||||
Pension benefits | C | Ongoing | 84.0 | 88.9 | |||||||||
Unamortized loss on reacquired debt | C | Ongoing | 11.2 | 11.9 | |||||||||
Regional transmission organization costs | D | 2014 | 1.5 | 2.6 | |||||||||
Deferred storm costs | D | 25.3 | 24.4 | ||||||||||
CCEM smart grid and AMI infrastructure costs | D | 6.6 | 6.6 | ||||||||||
Energy Efficiency Rider costs | F | Ongoing | 0.8 | 5.2 | |||||||||
Consumer education campaign | D | 3.0 | 3.0 | ||||||||||
Retail settlement system costs | D | 3.1 | 3.1 | ||||||||||
Other costs | 4.3 | 4.7 | |||||||||||
Total regulatory assets, non-current | $ | 172.4 | $ | 185.5 | |||||||||
Regulatory liabilities, current: | |||||||||||||
Other | $ | - | $ | 0.1 | |||||||||
Total regulatory liabilities, current | $ | - | $ | 0.1 | |||||||||
Regulatory liabilities, non-current: | |||||||||||||
Estimated costs of removal - regulated property | $ | 113.4 | $ | 112.1 | |||||||||
Postretirement benefits | 4.6 | 5.0 | |||||||||||
Other | - | 0.2 | |||||||||||
Total regulatory liabilities, non-current | $ | 118.0 | $ | 117.3 | |||||||||
Ownership_of_Coalfired_Facilit1
Ownership of Coal-fired Facilities (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Ownership Interests | ' | |||||||||||||||
DP&L Share | DPL Carrying value | |||||||||||||||
Jointly owned production units and stations: | Ownership | Summer Production Capacity (MW) | Gross Plant in Service | Accumulated Depreciation | Construction Work in Process | SCR and FGD Equipment Installed and in Service (Yes/No) | ||||||||||
(%) | ($ in millions) | ($ in millions) | ($ in millions) | |||||||||||||
Beckjord Unit 6 | 50 | 207 | $ | 2 | $ | 1 | $ | - | No | |||||||
Conesville Unit 4 | 16.5 | 129 | 52 | 2 | - | Yes | ||||||||||
East Bend Station | 31 | 186 | 13 | 4 | 3 | Yes | ||||||||||
Killen Station | 67 | 402 | 305 | 8 | 2 | Yes | ||||||||||
Miami Fort Units 7 and 8 | 36 | 368 | 212 | 11 | - | Yes | ||||||||||
Stuart Station | 35 | 808 | 202 | 12 | 11 | Yes | ||||||||||
Zimmer Station | 28.1 | 365 | 181 | 22 | 2 | Yes | ||||||||||
Transmission (at varying percentages) | n/a | 41 | 4 | - | ||||||||||||
Total | 2,465 | $ | 1,008 | $ | 64 | $ | 18 | |||||||||
Wholly owned production station: | ||||||||||||||||
Hutchings Station | 100 | - | $ | - | $ | - | $ | - | No | |||||||
DP&L [Member] | ' | |||||||||||||||
Ownership Interests | ' | |||||||||||||||
DP&L Share | DP&L Carrying value | |||||||||||||||
Jointly owned production units and stations: | Ownership | Summer Production Capacity (MW) | Gross Plant in Service | Accumulated Depreciation | Construction Work in Process | SCR and FGD Equipment Installed and in Service (Yes/No) | ||||||||||
(%) | ($ in millions) | ($ in millions) | ($ in millions) | |||||||||||||
Beckjord Unit 6 | 50 | 207 | $ | 76 | $ | 67 | $ | - | No | |||||||
Conesville Unit 4 | 16.5 | 129 | 44 | 1 | - | Yes | ||||||||||
East Bend Station | 31 | 186 | 210 | 139 | 3 | Yes | ||||||||||
Killen Station | 67 | 402 | 624 | 303 | 2 | Yes | ||||||||||
Miami Fort Units 7 and 8 | 36 | 368 | 361 | 149 | - | Yes | ||||||||||
Stuart Station | 35 | 808 | 744 | 305 | 11 | Yes | ||||||||||
Zimmer Station | 28.1 | 365 | 1,098 | 652 | 2 | Yes | ||||||||||
Transmission (at varying percentages) | 97 | 60 | - | |||||||||||||
Total | 2,465 | $ | 3,254 | $ | 1,676 | $ | 18 | |||||||||
Wholly owned production station: | ||||||||||||||||
Hutchings Station | 100 | - | $ | - | $ | - | $ | - | No | |||||||
Debt_Obligations_Tables
Debt Obligations (Tables) | 9 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Long-term Debt | ' | ||||||
$ in millions | 30-Sep-13 | 31-Dec-12 | |||||
Pollution control series maturing in January 2028 - 4.7% | $ | 36.0 | $ | 36.1 | |||
Pollution control series maturing in January 2034 - 4.8% | 179.6 | 179.6 | |||||
Pollution control series maturing in September 2036 - 4.8% | 96.3 | 96.3 | |||||
Pollution control series maturing in November 2040 - rates from: 0.06% - 0.24% and 0.04% - 0.26% (a) | 100.0 | - | |||||
First mortgage bonds maturing in September 2016 - 1.9% | 445.0 | - | |||||
U.S. Government note maturing in February 2061 - 4.2% | 18.3 | 18.3 | |||||
Capital lease obligations | - | 0.1 | |||||
Unamortized debt discount | -0.7 | - | |||||
Total long-term debt at subsidiary | 874.5 | 330.4 | |||||
Bank term loan maturing in August 2014 (repaid in May 2013) - rates from: 2.46% and 2.22% - 2.47% (a) | - | 425.0 | |||||
Bank term loan maturing in May 2018 - rates from: 2.44% - 2.45% (b) | 190.0 | - | |||||
Senior unsecured bonds maturing in October 2016 - 6.5% | 450.0 | 450.0 | |||||
Senior unsecured bonds maturing in October 2021 - 7.3% | 800.0 | 800.0 | |||||
Note to DPL Capital Trust II maturing in September 2031 - 8.125% | 19.6 | 19.6 | |||||
Total non-current portion of long-term debt | $ | 2,334.1 | $ | 2,025.0 | |||
Current Portion - Long-term Debt | ' | ||||||
$ in millions | 30-Sep-13 | 31-Dec-12 | |||||
First mortgage bonds maturing in October 2013 - 5.125% | $ | 470.2 | $ | 484.5 | |||
Pollution control series maturing in November 2040 - rates from: 0.06% - 0.24% and 0.04% - 0.26% (a) | - | 100.0 | |||||
Bank term loan maturing in May 2018 - rates from: 2.44% - 2.45% (b) | 10.0 | - | |||||
U.S. Government note maturing in February 2061 - 4.2% | 0.1 | 0.1 | |||||
Capital lease obligations | 0.1 | 0.3 | |||||
Total current portion of long-term debt | $ | 480.4 | $ | 584.9 | |||
Long-term Debt Maturities | ' | ||||||
$ in millions due within the twelve months ending: | |||||||
30-Sep-14 | $ | 480.3 | |||||
30-Sep-15 | 40.1 | ||||||
30-Sep-16 | 485.1 | ||||||
30-Sep-17 | 490.1 | ||||||
30-Sep-18 | 70.1 | ||||||
Thereafter | 1,252.8 | ||||||
Total maturities | 2,818.5 | ||||||
Unamortized premiums and discounts | -4 | ||||||
Total long-term debt | $ | 2,814.5 | |||||
DP&L [Member] | ' | ||||||
Long-term Debt | ' | ||||||
$ in millions | 30-Sep-13 | 31-Dec-12 | |||||
Pollution control series maturing in January 2028 - 4.7% | $ | 35.3 | $ | 35.3 | |||
Pollution control series maturing in January 2034 - 4.8% | 179.1 | 179.1 | |||||
Pollution control series maturing in September 2036 - 4.8% | 100.0 | 100.0 | |||||
Pollution control series maturing in November 2040 - rates from: 0.06% - 0.24% and 0.04% - 0.26% (a) | 100.0 | - | |||||
First mortgage bonds maturing in September 2016 - 1.875% | 445.0 | - | |||||
U.S. Government note maturing in February 2061 - 4.2% | 18.3 | 18.3 | |||||
Capital lease obligation | - | 0.1 | |||||
Unamortized debt discount | -0.8 | -0.1 | |||||
Total non-current portion of long-term debt | $ | 876.9 | $ | 332.7 | |||
Current Portion - Long-term Debt | ' | ||||||
$ in millions | 30-Sep-13 | 31-Dec-12 | |||||
First mortgage bonds maturing in October 2013 - 5.125% | $ | 470.0 | $ | 470.0 | |||
Pollution control series maturing in November 2040 - rates from: 0.06% - 0.24% and 0.04% - 0.26% (a) | - | 100.0 | |||||
U.S. Government note maturing in February 2061 - 4.2% | 0.1 | 0.1 | |||||
Capital lease obligations | 0.2 | 0.3 | |||||
Total current portion of long-term debt | $ | 470.3 | $ | 570.4 | |||
Long-term Debt Maturities | ' | ||||||
$ in millions due within the twelve months ending: | |||||||
30-Sep-14 | $ | 470.3 | |||||
30-Sep-15 | 0.1 | ||||||
30-Sep-16 | 445.1 | ||||||
30-Sep-17 | 0.1 | ||||||
30-Sep-18 | 0.1 | ||||||
Thereafter | 431.5 | ||||||
Total long-term debt | $ | 1,347.2 | |||||
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Effective Income Tax Rates | ' | ||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
DPL | 25.40% | -1.20% | 21.50% | -2.30% | |||||||||
DP&L [Member] | ' | ||||||||||||
Effective Income Tax Rates | ' | ||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
DP&L | 24.40% | -138.30% | 22.50% | 40.30% | |||||||||
Pension_and_Postretirement_Ben1
Pension and Postretirement Benefits (Tables) | 3 Months Ended | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2013 | |||||||||||||||||||||||||
Net Periodic Benefit Cost / (Income) | ' | ' | ||||||||||||||||||||||||
Net Periodic Benefit Cost / (Income) | Pension | Postretirement | Net Periodic Benefit Cost / (Income) | Pension | Postretirement | |||||||||||||||||||||
Three months ended September 30, | Three months ended September 30, | Nine months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||
$ in millions | 2013 | 2012 | 2013 | 2012 | $ in millions | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||
Service cost | $ | 1.8 | $ | 1.5 | $ | - | $ | - | Service cost | $ | 5.4 | $ | 4.6 | $ | 0.1 | $ | 0.1 | |||||||||
Interest cost | 3.8 | 4.3 | 0.2 | 0.2 | Interest cost | 11.6 | 12.9 | 0.6 | 0.6 | |||||||||||||||||
Expected return on plan assets (a) | -5.8 | -5.7 | - | -0.1 | Expected return on plan assets (a) | -17.6 | -17 | -0.2 | -0.2 | |||||||||||||||||
Amortization of unrecognized: | Amortization of unrecognized: | |||||||||||||||||||||||||
Actuarial loss / (gain) | 1.3 | 1.3 | -0.1 | -0.1 | Actuarial loss / (gain) | 3.7 | 3.7 | -0.3 | -0.5 | |||||||||||||||||
Prior service cost | 0.3 | 0.4 | - | - | Prior service cost | 1.1 | 1.1 | - | - | |||||||||||||||||
Net periodic benefit cost before adjustments | 1.4 | 1.8 | 0.1 | - | Net periodic benefit cost before adjustments | 4.2 | 5.3 | 0.2 | - | |||||||||||||||||
Settlement cost (b) | - | 0.2 | - | - | Settlement cost (b) | - | 0.2 | - | - | |||||||||||||||||
Net periodic benefit cost | $ | 1.4 | $ | 2.0 | $ | 0.1 | $ | - | Net periodic benefit cost | $ | 4.2 | $ | 5.5 | $ | 0.2 | $ | - | |||||||||
Estimated Future Benefit Payments and Medicare Part D Reimbursements | ' | ' | ||||||||||||||||||||||||
Benefit payments and Medicare Part D reimbursements, which reflect future service, are estimated to be paid as follows: | ||||||||||||||||||||||||||
$ in millions | Pension | Postretirement | ||||||||||||||||||||||||
2013 | $ | 5.5 | $ | 0.6 | ||||||||||||||||||||||
2014 | 22.5 | 2.2 | ||||||||||||||||||||||||
2015 | 23.0 | 2.0 | ||||||||||||||||||||||||
2016 | 23.3 | 1.9 | ||||||||||||||||||||||||
2017 | 23.7 | 1.7 | ||||||||||||||||||||||||
2018 - 2022 | 122.6 | 6.8 | ||||||||||||||||||||||||
DP&L [Member] | ' | ' | ||||||||||||||||||||||||
Net Periodic Benefit Cost / (Income) | ' | ' | ||||||||||||||||||||||||
Net Periodic Benefit Cost / (Income) | Pension | Postretirement | Net Periodic Benefit Cost / (Income) | Pension | Postretirement | |||||||||||||||||||||
Three months ended September 30, | Three months ended September 30, | Nine months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||
$ in millions | 2013 | 2012 | 2013 | 2012 | $ in millions | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||
Service cost | $ | 1.8 | $ | 1.5 | $ | - | $ | - | Service cost | $ | 5.4 | $ | 4.6 | $ | 0.1 | $ | 0.1 | |||||||||
Interest cost | 3.8 | 4.3 | 0.2 | 0.2 | Interest cost | 11.6 | 12.9 | 0.6 | 0.6 | |||||||||||||||||
Expected return on plan assets (a) | -5.8 | -5.7 | -0.1 | -0.1 | Expected return on plan assets (a) | -17.6 | -17 | -0.2 | -0.2 | |||||||||||||||||
Amortization of unrecognized: | Amortization of unrecognized: | |||||||||||||||||||||||||
Actuarial loss / (gain) | 2.3 | 2.4 | -0.2 | -0.2 | Actuarial loss / (gain) | 6.9 | 7.1 | -0.5 | -0.7 | |||||||||||||||||
Prior service cost | 0.7 | 0.7 | 0.1 | 0.1 | Prior service cost | 2.1 | 2.2 | 0.1 | 0.1 | |||||||||||||||||
Net periodic benefit cost before adjustments | 2.8 | 3.2 | - | - | Net periodic benefit cost / (income) before adjustments | 8.4 | 9.8 | 0.1 | -0.1 | |||||||||||||||||
Settlement cost (b) | - | 0.5 | - | - | Settlement cost (b) | - | 0.5 | - | - | |||||||||||||||||
Net periodic benefit cost | $ | 2.8 | $ | 3.7 | $ | - | $ | - | Net periodic benefit cost / (income) | $ | 8.4 | $ | 10.3 | $ | 0.1 | $ | -0.1 | |||||||||
Estimated Future Benefit Payments and Medicare Part D Reimbursements | ' | ' | ||||||||||||||||||||||||
Benefit payments and Medicare Part D reimbursements, which reflect future service, are estimated to be paid as follows: | ||||||||||||||||||||||||||
$ in millions | Pension | Postretirement | ||||||||||||||||||||||||
2013 | $ | 5.5 | $ | 0.6 | ||||||||||||||||||||||
2014 | 22.5 | 2.2 | ||||||||||||||||||||||||
2015 | 23.0 | 2.0 | ||||||||||||||||||||||||
2016 | 23.3 | 1.9 | ||||||||||||||||||||||||
2017 | 23.7 | 1.7 | ||||||||||||||||||||||||
2018 - 2022 | 122.6 | 6.8 | ||||||||||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 6 Months Ended | 9 Months Ended | 12 Months Ended | 15 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Mar. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value and Cost of Non-Derivative Instruments | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | Cost | Fair Value | Cost | Fair Value | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Money Market Funds | $ | 0.1 | $ | 0.1 | $ | 0.2 | $ | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Securities | 3.5 | 4.4 | 4.0 | 5.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Securities | 5.8 | 5.8 | 4.6 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-Strategy Fund | - | - | 0.3 | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hedge Funds | 0.9 | 0.9 | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate | 0.4 | 0.4 | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | $ | 10.7 | $ | 11.6 | $ | 9.1 | $ | 10.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt | $ | 2,814.5 | $ | 2,855.3 | $ | 2,609.9 | $ | 2,707.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value and Redemption Frequency | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Estimated Using Net Asset Value per Unit | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | Fair Value at September 30, 2013 | Fair Value at December 31, 2012 | Unfunded Commitments | Redemption Frequency | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Money Market Fund (a) | $ | 0.1 | $ | 0.2 | $ | - | Immediate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Securities (b) | 4.4 | 5.1 | - | Immediate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Securities (c) | 5.8 | 5.0 | - | Immediate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-Strategy Fund (d) | - | 0.3 | - | Immediate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hedge Funds (e) | 0.9 | - | - | Immediate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate (f) | 0.4 | - | - | Immediate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 11.6 | $ | 10.6 | $ | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value of Assets and Liabilities Measured on Recurring Basis | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | Fair Value at September 30, 2013 | Based on Quoted Prices in Active Markets | Other Observable Inputs | Unobservable Inputs | $ in millions | Fair Value at December 31, 2012 | Based on Quoted Prices in Active Markets | Other Observable Inputs | Unobservable Inputs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Master Trust Assets | Master Trust Assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Money Market Funds | $ | 0.1 | $ | 0.1 | $ | - | $ | - | Money Market Funds | $ | 0.2 | $ | 0.2 | $ | - | $ | - | |||||||||||||||||||||||||||||||||||||||||||||||
Equity Securities | 4.4 | - | 4.4 | - | Equity Securities | 5.1 | - | 5.1 | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Securities | 5.8 | - | 5.8 | - | Debt Securities | 5.0 | - | 5.0 | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hedge Funds | 0.9 | - | 0.9 | - | Multi-Strategy Fund | 0.3 | - | 0.3 | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate | 0.4 | - | 0.4 | - | Total Master Trust Assets | 10.6 | 0.2 | 10.4 | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Master Trust Assets | 11.6 | 0.1 | 11.5 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Assets | Heating Oil Futures | 0.2 | 0.2 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FTRs | 0.4 | - | - | 0.4 | Forward Power Contracts | 6.3 | - | 6.3 | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Heating Oil | 0.1 | 0.1 | - | - | Total Derivative Assets | 6.5 | 0.2 | 6.3 | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward Power Contracts | 21.1 | - | 21.1 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Derivative Assets | 21.6 | 0.1 | 21.1 | 0.4 | Total Assets | $ | 17.1 | $ | 0.4 | $ | 16.7 | $ | - | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | $ | 33.2 | $ | 0.2 | $ | 32.6 | $ | 0.4 | Liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities | FTRs | $ | 0.1 | $ | - | $ | - | $ | 0.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Liabilities | Interest Rate Hedge | 29.5 | - | 29.5 | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward Power Contracts | $ | 10.3 | $ | - | $ | 10.3 | $ | - | Forward Power Contracts | 13.1 | - | 13.1 | - | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total Derivative Liabilities | 10.3 | - | 10.3 | - | Total Derivative Liabilities | 42.7 | - | 42.6 | 0.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Debt | 2,855.3 | - | 2,836.7 | 18.6 | Long-term debt | 2,707.1 | - | 2,688.2 | 18.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Liabilities | $ | 2,865.6 | $ | - | $ | 2,847.0 | $ | 18.6 | Total Liabilities | $ | 2,749.8 | $ | - | $ | 2,730.8 | $ | 19.0 | |||||||||||||||||||||||||||||||||||||||||||||||
DP&L [Member] | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value and Cost of Non-Derivative Instruments | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | Cost | Fair Value | Cost | Fair Value | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Money market funds | $ | 0.1 | $ | 0.1 | $ | 0.2 | $ | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity securities | 3.5 | 4.4 | 4.0 | 5.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | 5.8 | 5.8 | 4.6 | 5.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-strategy fund | - | - | 0.3 | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hedge funds | 0.9 | 0.9 | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate | 0.4 | 0.4 | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 10.7 | $ | 11.6 | $ | 9.1 | $ | 10.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt | $ | 1,347.2 | $ | 1,330.8 | $ | 903.1 | $ | 926.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value and Redemption Frequency | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Estimated Using Net Asset Value per Unit | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | Fair Value at September 30, 2013 | Fair Value at December 31, 2012 | Unfunded Commitments | Redemption Frequency | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Money market fund (a) | $ | 0.1 | $ | 0.2 | $ | - | Immediate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity securities (b) | 4.4 | 5.1 | - | Immediate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities (c) | 5.8 | 5.0 | - | Immediate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-strategy fund (d) | - | 0.3 | - | Immediate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hedge funds (e) | 0.9 | - | - | Immediate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate (f) | 0.4 | - | - | Immediate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 11.6 | $ | 10.6 | $ | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value of Assets and Liabilities Measured on Recurring Basis | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | Fair Value at September 30, 2013 | Based on Quoted Prices in Active Markets | Other Observable Inputs | Unobservable Inputs | $ in millions | Fair Value at December 31, 2012 | Based on Quoted Prices in Active Markets | Other Observable Inputs | Unobservable Inputs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Master trust assets | Master trust assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Money market funds | $ | 0.1 | $ | 0.1 | $ | - | $ | - | Money market funds | $ | 0.2 | $ | 0.2 | $ | - | $ | - | |||||||||||||||||||||||||||||||||||||||||||||||
Equity securities | 4.4 | - | 4.4 | - | Equity securities | 5.1 | - | 5.1 | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities | 5.8 | - | 5.8 | - | Debt securities | 5.0 | - | 5.0 | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hedge funds | 0.9 | - | 0.9 | - | Multi-strategy fund | 0.3 | - | 0.3 | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate | 0.4 | - | 0.4 | - | Total Master trust assets | 10.6 | 0.2 | 10.4 | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Master trust assets | 11.6 | 0.1 | 11.5 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative assets | Heating oil futures | 0.2 | 0.2 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FTRs | 0.4 | - | - | 0.4 | Forward power contracts | 7.3 | - | 7.3 | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Heating Oil | 0.1 | 0.1 | - | - | Total Derivative assets | 7.5 | 0.2 | 7.3 | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | 21.2 | - | 21.2 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total derivative assets | 21.7 | 0.1 | 21.2 | 0.4 | Total assets | $ | 18.1 | $ | 0.4 | $ | 17.7 | $ | - | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 33.3 | $ | 0.2 | $ | 32.7 | $ | 0.4 | Liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities | FTRs | $ | 0.1 | $ | - | $ | - | $ | 0.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | Forward power contracts | 11.6 | - | 11.6 | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | 10.1 | - | 10.1 | - | Total Derivative liabilities | 11.7 | - | 11.6 | 0.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total derivative liabilities | 10.1 | - | 10.1 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term debt | 926.9 | - | 908.0 | 18.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term debt | 1,330.8 | - | 1,312.2 | 18.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | $ | 938.6 | $ | - | $ | 919.6 | $ | 19.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | $ | 1,340.9 | $ | - | $ | 1,322.3 | $ | 18.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative_Instruments_and_Hed1
Derivative Instruments and Hedging Activities (Tables) | 3 Months Ended | 6 Months Ended | 12 Months Ended | 15 Months Ended | 18 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Notional Amounts of Outstanding Derivative Positions | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commodity | Accounting Treatment | Unit | Purchases | Sales | Net Purchases/ (Sales) | Commodity | Accounting Treatment | Unit | Purchases | Sales | Net Purchases/ (Sales) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FTRs | Mark to Market | MWh | 10.7 | - | 10.7 | FTRs | Mark to Market | MWh | 6.9 | - | 6.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Heating oil futures | Mark to Market | Gallons | 1,638.0 | - | 1,638.0 | Heating oil futures | Mark to Market | Gallons | 1,764.0 | - | 1,764.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | Cash Flow Hedge | MWh | 421.6 | -4,719.40 | -4,297.80 | Forward power contracts | Cash Flow Hedge | MWh | 1,021.0 | -2,197.90 | -1,176.90 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | Mark to Market | MWh | 2,653.3 | -7,012.50 | -4,359.20 | Forward power contracts | Mark to Market | MWh | 2,510.7 | -4,760.40 | -2,249.70 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps | Cash Flow Hedge | USD | $ | 160,000.0 | $ | - | $ | 160,000.0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gains or Losses Recognized in AOCI for the Cash Flow Hedges | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended | Three months ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest | Interest | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions (net of tax) | Power | Rate Hedge | Power | Rate Hedge | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning accumulated derivative gain / (loss) in AOCI | $ | -1.1 | $ | 12.8 | $ | -2.4 | $ | -4.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net gains / (losses) associated with current period hedging transactions | -0.2 | 6.4 | -2.2 | 2.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net gains / (losses) reclassified to earnings | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | 0.3 | - | -0.1 | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased power | 1.0 | - | 0.1 | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending accumulated derivative gain / (loss) in AOCI | $ | - | $ | 19.2 | $ | -4.6 | $ | -2.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net gains / (losses) associated with the ineffective portion of the hedging transaction are presented in the following lines of the Condensed Consolidated Statements of Results of Operations: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest expense | $ | - | $ | -0.5 | $ | - | $ | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Portion expected to be reclassified to earnings in the next twelve months (a) | $ | -2.9 | $ | -1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) | 39 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the three months ended September 30, 2013 | For the three months ended September 30, 2012 | For the nine months ended September 30, 2013 | For the nine months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NYMEX | NYMEX | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | Heating Oil | FTRs | Power | Total | $ in millions | Coal | Heating Oil | FTRs | Power | Total | $ in millions | Heating Oil | FTRs | Power | Total | $ in millions | Coal | Heating Oil | FTRs | Power | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in unrealized gain | $ | 0.1 | $ | 1.3 | $ | 0.1 | $ | 1.5 | Change in unrealized gain / (loss) | $ | 15.5 | $ | - | $ | 0.1 | $ | -2.9 | $ | 12.7 | Change in unrealized gain / (loss) | $ | -0.2 | $ | 0.4 | $ | 10.5 | $ | 10.7 | Change in unrealized gain / (loss) | $ | 13.4 | $ | -1.5 | $ | -0.1 | $ | -0.6 | $ | 11.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realized gain / (loss) | 0.1 | - | -0.8 | -0.7 | Realized gain / (loss) | -12.8 | 0.5 | 0.1 | 0.1 | -12.1 | Realized gain / (loss) | - | 1.2 | 0.5 | 1.7 | Realized gain / (loss) | -27.2 | 1.9 | 0.5 | -4.2 | -29 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 0.2 | $ | 1.3 | $ | -0.7 | $ | 0.8 | Total | $ | 2.7 | $ | 0.5 | $ | 0.2 | $ | -2.8 | $ | 0.6 | Total | $ | -0.2 | $ | 1.6 | $ | 11.0 | $ | 12.4 | Total | $ | -13.8 | $ | 0.4 | $ | 0.4 | $ | -4.8 | $ | -17.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recorded in Income Statement: gain / (loss) | Recorded on Balance Sheet: | Recorded on Balance Sheet: | Recorded on Balance Sheet: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | $ | - | $ | - | $ | - | $ | - | Partners' share of gain / (loss) | $ | 4.7 | $ | - | $ | - | $ | - | $ | 4.7 | Regulatory (asset) / liability | $ | -0.1 | $ | - | $ | - | $ | -0.1 | Partners' share of gain / (loss) | $ | 3.5 | $ | - | $ | - | $ | - | $ | 3.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased power | - | 1.3 | -0.7 | 0.6 | Regulatory (asset) / liability | 1.2 | -0.1 | - | - | 1.1 | Regulatory (asset) / liability | 0.9 | -0.6 | - | - | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fuel | 0.1 | - | - | 0.1 | Recorded in Income Statement: gain / (loss) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
O&M | 0.1 | - | - | 0.1 | Recorded in Income Statement: gain / (loss) | Purchased power | - | 1.6 | 11.0 | 12.6 | Recorded in Income Statement: gain / (loss) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 0.2 | $ | 1.3 | $ | -0.7 | $ | 0.8 | Revenues | - | - | - | -2.4 | -2.4 | Fuel | -0.1 | - | - | -0.1 | Revenues | - | - | - | -1.7 | -1.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased power | - | - | 0.2 | -0.4 | -0.2 | O&M | - | - | - | - | Purchased power | - | - | 0.4 | -3.1 | -2.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fuel | -3.2 | 0.5 | - | - | -2.7 | Total | $ | -0.2 | $ | 1.6 | $ | 11.0 | $ | 12.4 | Fuel | -18.2 | 0.8 | - | - | -17.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
O&M | - | 0.1 | - | - | 0.1 | O&M | - | 0.2 | - | - | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 2.7 | $ | 0.5 | $ | 0.2 | $ | -2.8 | $ | 0.6 | Total | $ | -13.8 | $ | 0.4 | $ | 0.4 | $ | -4.8 | $ | -17.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Values of Derivative Instruments | Fair Values of Derivative Instruments Not Designated as Hedging Instruments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
at September 30, 2013 | at December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets | Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | Hedging Designation | Gross Fair Value as presented in the Condensed Consolidated Balance Sheets | Financial Instruments with Same Counterparty in Offsetting Position | Cash Collateral | Net Amount | $ in millions | Hedging Designation | Gross Fair Value as presented in the Condensed Consolidated Balance Sheets | Financial Instruments with Same Counterparty in Offsetting Position | Cash Collateral | Net Amount | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short-term derivative positions (presented in Other current assets) | Short-term derivative positions (presented in Other current assets) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | Cash Flow | $ | 1.4 | $ | -1.1 | $ | - | $ | 0.3 | Forward power contracts | Cash Flow | $ | 0.5 | $ | -0.5 | $ | - | $ | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | MTM | 5.1 | -2.6 | - | 2.5 | Forward power contracts | MTM | 2.7 | -1.5 | - | 1.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Heating oil | MTM | 0.1 | - | - | 0.1 | Heating oil futures | MTM | 0.2 | - | -0.2 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FTRs | MTM | 0.4 | - | - | 0.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term derivative positions (presented in Other deferred assets) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term derivative positions (presented in Other deferred assets) | Forward power contracts | Cash Flow | 0.5 | -0.5 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | Cash Flow | 1.9 | -0.5 | - | 1.4 | Forward power contracts | MTM | 3.6 | -0.6 | - | 3.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | MTM | 12.7 | -0.7 | - | 12.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 7.5 | $ | -3.1 | $ | -0.2 | $ | 4.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 21.6 | $ | -4.9 | $ | - | $ | 16.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities | Short-term derivative positions (presented in Other current liabilities) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short-term derivative positions (presented in Other current liabilities) | Forward power contracts | Cash Flow | $ | 6.7 | $ | -0.5 | $ | -2.1 | $ | 4.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | Cash Flow | $ | 3.7 | $ | -1.1 | $ | -2.3 | $ | 0.3 | Interest rate hedge | Cash Flow | 29.5 | - | - | 29.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | MTM | 5.0 | -2.6 | -2.1 | 0.3 | FTRs | MTM | 0.1 | - | - | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | MTM | 4.1 | -1.5 | -2 | 0.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term derivative positions (presented in Other deferred liabilities) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | Cash Flow | 0.5 | -0.5 | - | - | Long-term derivative positions (presented in Other deferred liabilities) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | MTM | 1.1 | -0.7 | - | 0.4 | Forward power contracts | Cash Flow | 1.5 | -0.5 | -0.9 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | MTM | 0.8 | -0.6 | -0.1 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | $ | 10.3 | $ | -4.9 | $ | -4.4 | $ | 1.0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | $ | 42.7 | $ | -3.1 | $ | -5.1 | $ | 34.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DP&L [Member] | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Notional Amounts of Outstanding Derivative Positions | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commodity | Accounting Treatment | Unit | Purchases | Sales | Net Purchases/ (Sales) | Commodity | Accounting Treatment | Unit | Purchases | Sales | Net Purchases/ (Sales) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FTRs | Mark to Market | MWh | 10.7 | - | 10.7 | FTRs | Mark to Market | MWh | 6.9 | - | 6.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Heating oil futures | Mark to Market | Gallons | 1,638.0 | - | 1,638.0 | Heating oil futures | Mark to Market | Gallons | 1,764.0 | - | 1,764.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | Cash Flow Hedge | MWh | 421.6 | -4,719.40 | -4,297.80 | Forward power contracts | Cash Flow Hedge | MWh | 1,021.0 | -2,197.90 | -1,176.90 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | Mark to Market | MWh | 2,624.6 | -7,041.30 | -4,416.70 | Forward power contracts | Mark to Market | MWh | 2,296.6 | -4,760.40 | -2,463.80 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gains or Losses Recognized in AOCI for the Cash Flow Hedges | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended | Three months ended | Nine months ended | Nine months ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | 30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest | Interest | Interest | Interest | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions (net of tax) | Power | Rate Hedge | Power | Rate Hedge | $ in millions (net of tax) | Power | Rate Hedge | Power | Rate Hedge | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning accumulated derivative gain / (loss) in AOCI | $ | -1.9 | $ | 6.1 | $ | -3.4 | $ | 8.6 | Beginning accumulated derivative gain / (loss) in AOCI | $ | -4.7 | $ | 7.3 | $ | -0.7 | $ | 9.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net gains / (losses) associated with current period hedging transactions | -0.3 | - | -2.5 | -0.6 | Net gains / (losses) associated with current period hedging transactions | - | - | -4 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net gains / (losses) reclassified to earnings | Net gains / (losses) reclassified to earnings | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest expense | - | -0.6 | - | - | Interest expense | - | -1.8 | - | -1.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | 0.3 | - | - | - | Revenues | 1.4 | - | 0.1 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased power | 1.3 | - | -0.1 | - | Purchased power | 2.7 | - | -1.4 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending accumulated derivative gain / (loss) in AOCI | $ | -0.6 | $ | 5.5 | $ | -6 | $ | 8.0 | Ending accumulated derivative gain / (loss) in AOCI | $ | -0.6 | $ | 5.5 | $ | -6 | $ | 8.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Portion expected to be reclassified to earnings in the next twelve months (a) | $ | -2.3 | $ | -2.4 | Portion expected to be reclassified to earnings in the next twelve months (a) | $ | -2.3 | $ | -2.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) | 39 | - | Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) | 39 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the three months ended September 30, 2013 | For the three months ended September 30, 2012 | For the nine months ended September 30, 2013 | For the nine months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NYMEX | NYMEX | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | Heating Oil | FTRs | Power | Total | $ in millions | Coal | Heating Oil | FTRs | Power | Total | $ in millions | Heating Oil | FTRs | Power | Total | $ in millions | Coal | Heating Oil | FTRs | Power | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in unrealized gain / (loss) | $ | 0.1 | $ | 1.3 | $ | -0.1 | $ | 1.3 | Change in unrealized gain / (loss) | $ | 15.5 | $ | - | $ | 0.1 | $ | -5.5 | $ | 10.1 | Change in unrealized gain / (loss) | $ | -0.2 | $ | 0.4 | $ | 8.9 | $ | 9.1 | Change in unrealized gain / (loss) | $ | 13.4 | $ | -1.5 | $ | -0.1 | $ | -4.6 | $ | 7.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realized gain / (loss) | 0.1 | - | -0.8 | -0.7 | Realized gain / (loss) | -12.8 | 0.5 | 0.1 | 4.2 | -8 | Realized gain / (loss) | - | 1.2 | 1.1 | 2.3 | Realized gain / (loss) | -27.2 | 1.9 | 0.5 | 4.2 | -20.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 0.2 | $ | 1.3 | $ | -0.9 | $ | 0.6 | Total | $ | 2.7 | $ | 0.5 | $ | 0.2 | $ | -1.3 | $ | 2.1 | Total | $ | -0.2 | $ | 1.6 | $ | 10.0 | $ | 11.4 | Total | $ | -13.8 | $ | 0.4 | $ | 0.4 | $ | -0.4 | $ | -13.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recorded in Income Statement: gain / (loss) | Recorded on Balance Sheet: | Recorded on Balance Sheet: | Recorded on Balance Sheet: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | $ | - | $ | - | $ | 0.1 | $ | 0.1 | Partners' share of gain / (loss) | $ | 4.7 | $ | - | $ | - | $ | - | $ | 4.7 | Regulatory (asset) / liability | $ | -0.1 | $ | - | $ | - | $ | -0.1 | Partners' share of gain / (loss) | $ | 3.5 | $ | - | $ | - | $ | - | $ | 3.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased power | - | 1.3 | -1 | 0.3 | Regulatory (asset) / liability | 1.2 | -0.1 | - | - | 1.1 | Regulatory (asset) / liability | 0.9 | -0.6 | - | - | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fuel | 0.1 | - | - | 0.1 | Recorded in Income Statement: gain / (loss) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
O&M | 0.1 | - | - | 0.1 | Recorded in Income Statement: gain / (loss) | Revenues | - | - | 0.2 | 0.2 | Recorded in Income Statement: gain / (loss) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 0.2 | $ | 1.3 | $ | -0.9 | $ | 0.6 | Revenues | - | - | - | 0.3 | 0.3 | Purchased power | - | 1.6 | 9.8 | 11.4 | Revenues | - | - | - | 2.0 | 2.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased power | - | - | 0.2 | -1.6 | -1.4 | Fuel | -0.1 | - | - | -0.1 | Purchased power | - | - | 0.4 | -2.4 | -2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fuel | -3.2 | 0.5 | - | - | -2.7 | O&M | - | - | - | - | Fuel | -18.2 | 0.8 | - | - | -17.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
O&M | - | 0.1 | - | - | 0.1 | Total | $ | -0.2 | $ | 1.6 | $ | 10.0 | $ | 11.4 | O&M | - | 0.2 | - | - | 0.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 2.7 | $ | 0.5 | $ | 0.2 | $ | -1.3 | $ | 2.1 | Total | $ | -13.8 | $ | 0.4 | $ | 0.4 | $ | -0.4 | $ | -13.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Values of Derivative Instruments | Fair Values of Derivative Instruments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
at September 30, 2013 | at December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross Amounts Not Offset in the Condensed Balance Sheets | Gross Amounts Not Offset in the Condensed Balance Sheets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | Hedging Designation | Gross Fair Value as presented in the Condensed Balance Sheets | Financial Instruments with Same Counterparty in Offsetting Position | Cash Collateral | Net Amount | $ in millions | Hedging Designation | Gross Fair Value as presented in the Condensed Balance Sheets | Financial Instruments with Same Counterparty in Offsetting Position | Cash Collateral | Net Amount | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short-term derivative positions (presented in Other current assets) | Short-term derivative positions (presented in Other current assets) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | Cash Flow | $ | 1.4 | $ | -1.1 | $ | - | $ | 0.3 | Forward power contracts | Cash Flow | $ | 0.5 | $ | -0.5 | $ | - | $ | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | MTM | 5.2 | -2.6 | - | 2.6 | Forward power contracts | MTM | 2.8 | -1.5 | - | 1.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Heating oil futures | MTM | 0.1 | - | - | 0.1 | Heating oil futures | MTM | 0.2 | - | -0.2 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FTRs | MTM | 0.4 | - | - | 0.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term derivative positions (presented in Other deferred assets) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term derivative positions (presented in Other deferred assets) | Forward power contracts | Cash Flow | 0.5 | -0.5 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | Cash Flow | 1.9 | -0.5 | - | 1.4 | Forward power contracts | MTM | 3.6 | -0.6 | - | 3.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | MTM | 12.7 | -0.7 | - | 12.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 7.6 | $ | -3.1 | $ | -0.2 | $ | 4.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 21.7 | $ | -4.9 | $ | - | $ | 16.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities | Short-term derivative positions (presented in Other current liabilities) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short-term derivative positions (presented in Other current liabilities) | Forward power contracts | Cash Flow | $ | 6.7 | $ | -0.5 | $ | -2.1 | $ | 4.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | Cash Flow | $ | 3.8 | $ | -1.1 | $ | -2.3 | $ | 0.4 | FTRs | MTM | 0.1 | - | - | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | MTM | 4.7 | -2.6 | -1.8 | 0.3 | Forward power contracts | MTM | 2.7 | -1.5 | -0.5 | 0.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term derivative positions (presented in Other deferred liabilities) | Long-term derivative positions (presented in Other deferred liabilities) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | Cash Flow | 0.5 | -0.5 | - | - | Forward power contracts | Cash Flow | 1.5 | -0.5 | -0.9 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forward power contracts | MTM | 1.1 | -0.7 | -0.1 | 0.3 | Forward power contracts | MTM | 0.7 | -0.6 | - | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | $ | 10.1 | $ | -4.9 | $ | -4.2 | $ | 1.0 | Total liabilities | $ | 11.7 | $ | -3.1 | $ | -3.5 | $ | 5.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business_Segments_Tables
Business Segments (Tables) | 3 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Segments [Abstract] | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Reporting for Reportable Business Segments | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ in millions | Utility | Competitive Retail | Other | Adjustments and Eliminations | DPL Consolidated | $ in millions | Utility | Competitive Retail | Other | Adjustments and Eliminations | DPL Consolidated | $ in millions | Utility | Competitive Retail | Other | Adjustments and Eliminations | DPL Consolidated | $ in millions | Utility | Competitive Retail | Other | Adjustments and Eliminations | DPL Consolidated | |||||||||||||||||||||||||||||||||||||||||
For the three months ended September 30, 2013 | For the three months ended September 30, 2012 | For the nine months ended September 30, 2013 | For the nine months ended September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues from external customers | $ | 289.3 | $ | 139.7 | $ | 12.2 | $ | - | $ | 441.2 | Revenues from external customers | $ | 313.4 | $ | 145.5 | $ | 12.8 | $ | - | $ | 471.7 | Revenues from external customers | $ | 805.5 | $ | 381.9 | $ | 23.3 | $ | - | $ | 1,210.7 | Revenues from external customers | $ | 887.9 | $ | 367.5 | $ | 32.3 | $ | - | $ | 1,287.7 | |||||||||||||||||||||
Intersegment revenues | 123.8 | - | 1.0 | -124.8 | - | Intersegment revenues | 113.4 | - | 0.9 | -114.3 | - | Intersegment revenues | 336.0 | - | 3.0 | -339 | - | Intersegment revenues | 285.1 | - | 2.6 | -287.7 | - | |||||||||||||||||||||||||||||||||||||||||
Total revenues | 413.1 | 139.7 | 13.2 | -124.8 | 441.2 | Total revenues | 426.8 | 145.5 | 13.7 | -114.3 | 471.7 | Total revenues | 1,141.5 | 381.9 | 26.3 | -339 | 1,210.7 | Total revenues | 1,173.0 | 367.5 | 34.9 | -287.7 | 1,287.7 | |||||||||||||||||||||||||||||||||||||||||
Fuel | 96.7 | - | 2.9 | 0.1 | 99.7 | Fuel | 108.1 | - | 4.6 | - | 112.7 | Fuel | 269.6 | - | 4.2 | 0.2 | 274.0 | Fuel | 272.3 | - | 6.7 | - | 279.0 | |||||||||||||||||||||||||||||||||||||||||
Purchased power | 110.4 | 125.6 | 0.9 | -123.8 | 113.1 | Purchased power | 79.9 | 123.4 | 0.9 | -113.5 | 90.7 | Purchased power | 276.7 | 340.8 | 1.5 | -336.4 | 282.6 | Purchased power | 234.1 | 315.6 | 1.3 | -285.2 | 265.8 | |||||||||||||||||||||||||||||||||||||||||
Amortization of intangibles | - | - | 1.8 | - | 1.8 | Amortization of intangibles | - | - | 24.2 | - | 24.2 | Amortization of intangibles | - | - | 5.3 | - | 5.3 | Amortization of intangibles | - | - | 71.2 | - | 71.2 | |||||||||||||||||||||||||||||||||||||||||
Gross margin | $ | 206.0 | $ | 14.1 | $ | 7.6 | $ | -1.1 | $ | 226.6 | Gross margin | $ | 238.8 | $ | 22.1 | $ | -16 | $ | -0.8 | $ | 244.1 | Gross margin | $ | 595.2 | $ | 41.1 | $ | 15.3 | $ | -2.8 | $ | 648.8 | Gross margin | $ | 666.6 | $ | 51.9 | $ | -44.3 | $ | -2.5 | $ | 671.7 | |||||||||||||||||||||
Depreciation and amortization | $ | 35.8 | $ | 0.1 | $ | -2 | $ | - | $ | 33.9 | Depreciation and amortization | $ | 36.5 | $ | 0.2 | $ | -3.6 | $ | - | $ | 33.1 | Depreciation and amortization | $ | 104.5 | $ | 0.4 | $ | -5.9 | $ | - | $ | 99.0 | Depreciation and amortization | $ | 107.3 | $ | 0.3 | $ | -12 | $ | - | $ | 95.6 | |||||||||||||||||||||
Interest expense | 10.4 | 0.1 | 20.6 | -0.1 | 31.0 | Goodwill impairment | - | - | 1,850.0 | - | 1,850.0 | Interest expense | 29.7 | 0.4 | 61.5 | -0.5 | 91.1 | Goodwill impairment | - | - | 1,850.0 | - | 1,850.0 | |||||||||||||||||||||||||||||||||||||||||
Income tax expense (benefit) | 13.2 | 1.4 | -3.3 | - | 11.3 | Fixed asset impairment | 80.8 | - | - | -80.8 | - | Income tax expense (benefit) | 29.2 | 4.3 | -12.7 | - | 20.8 | Fixed asset impairment | 80.8 | - | - | -80.8 | - | |||||||||||||||||||||||||||||||||||||||||
Net income / (loss) | 40.9 | 2.5 | -10.2 | - | 33.2 | Interest expense | 10.0 | 0.2 | 21.0 | -0.1 | 31.1 | Net income / (loss) | 101.4 | 7.7 | -33.1 | - | 76.0 | Interest expense | 29.0 | 0.4 | 64.1 | -0.4 | 93.1 | |||||||||||||||||||||||||||||||||||||||||
Income tax expense (benefit) | 6.5 | 5.9 | 7.8 | - | 20.2 | Income tax expense (benefit) | 39.4 | 15.8 | -14.9 | - | 40.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash capital expenditures | $ | 28.3 | $ | - | $ | 1.0 | $ | - | $ | 29.3 | Net income / (loss) | -11.2 | 10.0 | -1,809.70 | - | -1,810.90 | Cash capital expenditures | $ | 95.1 | $ | - | $ | 1.4 | $ | - | $ | 96.5 | Net income / (loss) | 58.3 | 17.5 | -1,853.10 | - | -1,777.30 | |||||||||||||||||||||||||||||||
At September 30, 2013 | Cash capital expenditures | $ | 52.2 | $ | - | $ | 0.4 | $ | - | $ | 52.6 | At September 30, 2013 | Cash capital expenditures | $ | 161.7 | $ | 0.5 | $ | 0.9 | $ | - | $ | 163.1 | |||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 3,837.5 | $ | 102.8 | $ | 565.8 | $ | - | $ | 4,506.1 | Total assets | $ | 3,837.5 | $ | 102.8 | $ | 565.8 | $ | - | $ | 4,506.1 | |||||||||||||||||||||||||||||||||||||||||||
At December 31, 2012 | At December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 3,464.2 | $ | 99.2 | $ | 683.9 | $ | - | $ | 4,247.3 | Total assets | $ | 3,464.2 | $ | 99.2 | $ | 683.9 | $ | - | $ | 4,247.3 | |||||||||||||||||||||||||||||||||||||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
employee | sqmi | |||
employee | ||||
Service Area Square Miles | ' | ' | 6,000 | ' |
Approximate number of retail customers | ' | ' | 513,000 | ' |
Approximate number of DPLER customers | ' | ' | 281,000 | ' |
Entity number of employees | 1,436 | ' | 1,436 | ' |
Number of coal fired power plants | ' | ' | 8 | ' |
Employees under a collective bargaining agreement which expires in October-2011 | ' | ' | 53.00% | ' |
Capitalized interest for unregulated generation propety | $0.40 | $0.90 | $1.20 | $3.40 |
DP&L [Member] | ' | ' | ' | ' |
Approximate number of retail customers | ' | ' | 513,000 | ' |
Entity number of employees | 1,376 | ' | 1,376 | ' |
Employees under a collective bargaining agreement which expires in October-2011 | ' | ' | 55.00% | ' |
Capitalized interest for unregulated generation propety | $0.40 | $0.90 | $1.20 | $3.40 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Summary of Property, Plant, and Equipment) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Public Utilities, Allowance for Funds Used During Construction, Capitalized Interest | $0.40 | $0.90 | $1.20 | $3.40 |
DP&L [Member] | ' | ' | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Public Utilities, Allowance for Funds Used During Construction, Capitalized Interest | $0.40 | $0.90 | $1.20 | $3.40 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies (Excise Taxes Levied by State or Local Governments) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
State/Local excise taxes | $13 | $13.80 | $38 | $38.50 |
DP&L [Member] | ' | ' | ' | ' |
State/Local excise taxes | $13 | $13.80 | $38 | $38.50 |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies (Related Party Transactions) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
DP&L [Member] | ' | ' | ' | ' |
Premiums paid for insurance services provided by MVIC | ($0.70) | ($0.70) | ($2.20) | ($1.90) |
Expense recoveries for services provided to DPLER | 1.3 | 1.2 | 3.8 | 2.7 |
Deposits received from DPLER | 19.2 | ' | 19.2 | ' |
DPLE and DPLER [Member] | ' | ' | ' | ' |
Sales to related party | 93.9 | 93.3 | 254 | 263.7 |
MC Squared [Member] | ' | ' | ' | ' |
Sales to related party | $30 | $19.80 | $82.40 | $20.10 |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies (Sale of Receivables) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
ComEd [Member] | ' | ' | ' | ' |
Proceeds from Sale of Other Receivables | $22.60 | $0.40 | $57.80 | $0.40 |
Duke Energy [Member] | ' | ' | ' | ' |
Proceeds from Sale of Other Receivables | $6.10 | $6.10 | $15.60 | ' |
Summary_of_Signficant_Accounti
Summary of Signficant Accounting Policies (Accounting for Taxes Collected from Customers and Remitted to Governmental Authorities) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Excise Taxes Collected | $13 | $13.80 | $38 | $38.50 |
DP&L [Member] | ' | ' | ' | ' |
Excise Taxes Collected | $13 | $13.80 | $38 | $38.50 |
Supplemental_Financial_Informa2
Supplemental Financial Information (Supplemental Financial Information) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Unbilled revenue | $58.30 | $75.20 |
Customer receivables | 107.8 | 98.2 |
Amounts due from partners in jointly owned stations | 10.2 | 19.7 |
Coal sales | ' | 1.6 |
Other | 5.1 | 14.6 |
Provision for uncollectible accounts | -1.2 | -1.1 |
Total accounts receivable, net | 180.2 | 208.2 |
Fuel and Limestone | 51.3 | 67.3 |
Plant materials and supplies | 38.3 | 41 |
Other | 2 | 1.8 |
Total inventories, at average cost | 91.6 | 110.1 |
DP&L [Member] | ' | ' |
Unbilled revenue | 33.2 | 48.1 |
Customer receivables | 62.1 | 62 |
Amounts due from partners in jointly owned stations | 10.2 | 19.7 |
Coal sales | ' | 1.6 |
Other | 27.7 | 29.5 |
Provision for uncollectible accounts | -1 | -0.9 |
Total accounts receivable, net | 132.2 | 160 |
Fuel and Limestone | 51.3 | 67.3 |
Plant materials and supplies | 37.1 | 39.8 |
Other | 2 | 1.8 |
Total inventories, at average cost | $90.40 | $108.90 |
Supplemental_Financial_Informa3
Supplemental Financial Information (Accumulated Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | Available-for-sale Securities [Member] | Available-for-sale Securities [Member] | Available-for-sale Securities [Member] | Available-for-sale Securities [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Other Pension Plans, Defined Benefit [Member] | Other Pension Plans, Defined Benefit [Member] | Other Pension Plans, Defined Benefit [Member] | Other Pension Plans, Defined Benefit [Member] | ||||||
DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | |||||||||||||||||
Total Reclassifications out of AOCI | $1.70 | ' | $4.70 | ($0.80) | ' | $2.30 | $0.30 | ($0.10) | $6.40 | ' | $1.40 | ' | $1.40 | ' | $3 | ' | $2.30 | ' | $0.30 | ' | $2.70 | ' |
Total Adjustments to AOCI | ' | ' | 17.4 | ' | ' | ' | ' | ' | -1.8 | ' | -1.3 | ' | -1.8 | ' | 18.7 | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Net of Tax | 8.1 | 0.5 | 22.1 | -5.9 | ' | ' | ' | ' | 4.6 | ' | 0.1 | ' | -0.4 | ' | 21.7 | ' | 2.3 | ' | 0.3 | ' | 2.7 | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | $18.20 | ' | $18.20 | ' | ($3.90) | ($34.10) | ' | ' | ($34.10) | ($38.70) | $0.50 | $0.40 | $0.60 | $1 | $19.20 | ($2.50) | $4.90 | $2.60 | ($1.50) | ($1.80) | ($39.60) | ($42.30) |
Supplemental_Financial_Informa4
Supplemental Financial Information (Reclassification out of ACOI) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2012 | Sep. 30, 2013 |
Available-for-sale Securities [Member] | Available-for-sale Securities [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Other Pension Plans, Defined Benefit [Member] | Other Income [Member] | Other Income [Member] | Other Income [Member] | Interest Expense [Member] | Revenue [Member] | Revenue [Member] | Revenue [Member] | Revenue [Member] | Purchased Power [Member] | Purchased Power [Member] | Purchased Power [Member] | Purchased Power [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | ||||
Available-for-sale Securities [Member] | Available-for-sale Securities [Member] | Other Pension Plans, Defined Benefit [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Available-for-sale Securities [Member] | Available-for-sale Securities [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Other Pension Plans, Defined Benefit [Member] | Other Pension Plans, Defined Benefit [Member] | Other Pension Plans, Defined Benefit [Member] | Other Pension Plans, Defined Benefit [Member] | Other Income [Member] | Other Income [Member] | Interest Expense [Member] | Interest Expense [Member] | Interest Expense [Member] | Interest Expense [Member] | Revenue [Member] | Revenue [Member] | Revenue [Member] | Revenue [Member] | Purchased Power [Member] | Purchased Power [Member] | Purchased Power [Member] | ||||||||||||||
Available-for-sale Securities [Member] | Available-for-sale Securities [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | ||||||||||||||||||||||||||||||||||||
Other Comprehensive Income (Loss) - Financial Instruments Reclassfication | ' | ' | ' | $0.60 | $2.10 | ' | ' | ' | ' | $0.60 | $2.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.60 | $2.10 | ' | ' | ' | ' | ' | ' | ' | ' | $0.60 | $2.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Reclassification Adjustment for Sale of Securities Included in Net Income, Tax | -0.2 | -0.7 | ' | -0.2 | -0.7 | ' | ' | ' | ' | ' | ' | ' | 0.2 | 0.5 | 0.1 | 2.2 | -1.7 | ' | ' | ' | ' | -0.2 | ' | ' | -0.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification to earnings of available-for-sale securities, net of income tax expense/(benefit) | 0.4 | 1.4 | ' | 0.4 | 1.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.4 | ' | ' | 1.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss) - Cash Flow Hedge Reclassfications | ' | ' | ' | ' | ' | 2.1 | 5.1 | -1.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.6 | -0.1 | 2.9 | -0.1 | ' | ' | ' | ' | ' | ' | 1.8 | -0.8 | -3.8 | 4.5 | ' | ' | ' | ' | ' | ' | -0.6 | -0.6 | -1.8 | -1.8 | 0.4 | -0.2 | -2.2 | 2.1 | 2 | 0.2 | 4.2 |
Income tax (expense)/benefit on reclassification of earnings related to derivative activity | -0.8 | -2.1 | 0.7 | ' | ' | -0.8 | -2.1 | 0.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.8 | 0.1 | 0.7 | -2.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification of earnings of Cash Flow Hedge | 1.3 | 3 | -0.8 | ' | ' | 1.3 | 3 | -0.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | -0.7 | -3.1 | 2.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss) - Pension Reclassifications | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.4 | 1.6 | 4.6 | 4.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss),Net Gain (Loss) Reclassification | ' | 0.3 | -0.1 | ' | ' | ' | ' | ' | 0.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.9 | 1 | 3 | 2.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax (expense)/benefit on reclassification of earnings related to pension and postretirement activity | ' | 0.3 | ' | ' | ' | ' | ' | ' | 0.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.5 | -0.6 | -1.6 | -1.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification to earnings of Pension | ' | 0.3 | -0.1 | ' | ' | ' | ' | ' | 0.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.9 | 1 | 3 | 2.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Reclassifications out of AOCI | $1.70 | $4.70 | ($0.80) | ' | $1.40 | ' | $3 | ' | $0.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2.30 | $0.30 | ($0.10) | $6.40 | ' | $1.40 | ' | ' | ' | $2.30 | ' | ' | ' | $2.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Regulatory_Assets_and_Liabilit2
Regulatory Assets and Liabilities (Narrative) (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Deferred Storm Costs [Member] | ' |
Disallowance of regulatory asset | $24 |
Fuel and purchased power recovery costs [Member] | ' |
Disallowance of regulatory asset | 5.3 |
DP&L [Member] | Deferred Storm Costs [Member] | ' |
Disallowance of regulatory asset | 24 |
DP&L [Member] | Fuel and purchased power recovery costs [Member] | ' |
Disallowance of regulatory asset | $5.30 |
Regulatory_Assets_and_Liabilit3
Regulatory Assets and Liabilities (Schedule of Regulatory Assets and Liabilities) (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Total current regulatory assets | $12.20 | $21.10 |
Total non-current regulatory assets | 172.4 | 185.5 |
Total current regulatory liabilities | ' | 0.1 |
Total non-current regulatory liabilities | 118 | 117.3 |
Estimated Costs of Removal - Regulated Property [Member] | ' | ' |
Total non-current regulatory liabilities | 113.4 | 112.1 |
Postretirement Benefit [Member] | ' | ' |
Total non-current regulatory liabilities | 4.6 | 5 |
Other Costs - Liabilities [Member] | ' | ' |
Total current regulatory liabilities | ' | 0.1 |
Total non-current regulatory liabilities | ' | 0.2 |
DP&L [Member] | ' | ' |
Total current regulatory assets | 10.8 | 18.3 |
Total non-current regulatory assets | 172.4 | 185.5 |
Total current regulatory liabilities | ' | 0.1 |
Total non-current regulatory liabilities | 118 | 117.3 |
DP&L [Member] | Estimated Costs of Removal - Regulated Property [Member] | ' | ' |
Total non-current regulatory liabilities | 113.4 | 112.1 |
DP&L [Member] | Postretirement Benefit [Member] | ' | ' |
Total non-current regulatory liabilities | 4.6 | 5 |
DP&L [Member] | Other Costs - Liabilities [Member] | ' | ' |
Total current regulatory liabilities | ' | 0.1 |
Total non-current regulatory liabilities | ' | 0.2 |
Deferred Recoverable Income Taxes [Member] | ' | ' |
Type of Recovery | 'B/C | ' |
Amortization Through | 'Ongoing | ' |
Total non-current regulatory assets | 32.6 | 35.1 |
Deferred Recoverable Income Taxes [Member] | DP&L [Member] | ' | ' |
Type of Recovery | 'B/C | ' |
Amortization Through | 'Ongoing | ' |
Total non-current regulatory assets | 32.6 | 35.1 |
Pension Benefits [Member] | ' | ' |
Type of Recovery | 'C | ' |
Amortization Through | 'Ongoing | ' |
Total non-current regulatory assets | 84 | 88.9 |
Pension Benefits [Member] | DP&L [Member] | ' | ' |
Type of Recovery | 'C | ' |
Amortization Through | 'Ongoing | ' |
Total non-current regulatory assets | 84 | 88.9 |
Fuel and purchased power recovery costs [Member] | DP&L [Member] | ' | ' |
Type of Recovery | 'C | ' |
Amortization Through | 'Ongoing | ' |
Total current regulatory assets | 6.3 | 11.3 |
Unamortized Loss on Reacquired Debt [Member] | ' | ' |
Type of Recovery | 'C | ' |
Amortization Through | 'Ongoing | ' |
Total non-current regulatory assets | 11.2 | 11.9 |
Unamortized Loss on Reacquired Debt [Member] | DP&L [Member] | ' | ' |
Type of Recovery | 'C | ' |
Amortization Through | 'Ongoing | ' |
Total non-current regulatory assets | 11.2 | 11.9 |
Regional Transmission Organization Costs [Member] | ' | ' |
Type of Recovery | 'D | ' |
Amortization Through | '2014 | ' |
Total non-current regulatory assets | 1.5 | 2.6 |
Regional Transmission Organization Costs [Member] | DP&L [Member] | ' | ' |
Type of Recovery | 'D | ' |
Amortization Through | '2014 | ' |
Total non-current regulatory assets | 1.5 | 2.6 |
TCRR, Transmission, Ancillary and Other PJM-related Costs [Member] | ' | ' |
Type of Recovery | 'F | ' |
Amortization Through | 'Ongoing | ' |
Total current regulatory assets | 4.5 | 7 |
TCRR, Transmission, Ancillary and Other PJM-related Costs [Member] | DP&L [Member] | ' | ' |
Type of Recovery | 'F | ' |
Amortization Through | 'Ongoing | ' |
Total current regulatory assets | 4.5 | 7 |
Deferred Storm Costs [Member] | ' | ' |
Type of Recovery | 'D | ' |
Total non-current regulatory assets | 25.3 | 24.4 |
Deferred Storm Costs [Member] | DP&L [Member] | ' | ' |
Type of Recovery | 'D | ' |
Total non-current regulatory assets | 25.3 | 24.4 |
CCEM Smart Grid and Advanced Metering Infrastructure Costs [Member] | ' | ' |
Type of Recovery | 'D | ' |
Total non-current regulatory assets | 6.6 | 6.6 |
CCEM Smart Grid and Advanced Metering Infrastructure Costs [Member] | DP&L [Member] | ' | ' |
Type of Recovery | 'D | ' |
Total non-current regulatory assets | 6.6 | 6.6 |
CCEM Energy Efficiency Program Costs [Member] | ' | ' |
Type of Recovery | 'F | ' |
Amortization Through | 'Ongoing | ' |
Total non-current regulatory assets | 0.8 | 5.2 |
CCEM Energy Efficiency Program Costs [Member] | DP&L [Member] | ' | ' |
Type of Recovery | 'F | ' |
Amortization Through | 'Ongoing | ' |
Total non-current regulatory assets | 0.8 | 5.2 |
Consumer Education Campaign | ' | ' |
Type of Recovery | 'D | ' |
Total non-current regulatory assets | 3 | 3 |
Consumer Education Campaign | DP&L [Member] | ' | ' |
Type of Recovery | 'D | ' |
Total non-current regulatory assets | 3 | 3 |
Retail Settlement System Costs [Member] | ' | ' |
Type of Recovery | 'D | ' |
Total non-current regulatory assets | 3.1 | 3.1 |
Retail Settlement System Costs [Member] | DP&L [Member] | ' | ' |
Type of Recovery | 'D | ' |
Total non-current regulatory assets | 3.1 | 3.1 |
Fuel and Purchased Power Recovery Costs [Member] | ' | ' |
Type of Recovery | 'C | ' |
Amortization Through | 'Ongoing | ' |
Total current regulatory assets | 7.7 | 14.1 |
Other Costs - Assets [Member] | ' | ' |
Total non-current regulatory assets | 4.3 | 4.7 |
Other Costs - Assets [Member] | DP&L [Member] | ' | ' |
Total non-current regulatory assets | $4.30 | $4.70 |
Ownership_of_Coalfired_Facilit2
Ownership of Coal-fired Facilities (Narrative) (Details) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Construction work in process | $18,000,000 |
Number Of Generating Facilities | 7 |
Supplemental Eviromental Project | 200,000 |
DP&L [Member] | ' |
Construction work in process | 18,000,000 |
Number Of Generating Facilities | 7 |
Supplemental Eviromental Project | 200,000 |
Hutchings Plant [Member] | ' |
Undivided ownership interests | 100.00% |
Hutchings Plant [Member] | DP&L [Member] | ' |
Undivided ownership interests | 100.00% |
Beckjord Unit 6 [Member] | ' |
Undivided ownership interests | 50.00% |
Property, Plant, and Equipment, Fair Value Disclosure | $0 |
Beckjord Unit 6 [Member] | DP&L [Member] | ' |
Undivided ownership interests | 50.00% |
Ownership_of_Coalfired_Facilit3
Ownership of Coal-fired Facilities (Ownership Interests) (Details) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
MW | |
Construction Work in Process | 18 |
DP&L [Member] | ' |
Construction Work in Process | 18 |
DP&L Share [Member] | Beckjord Unit 6 [Member] | ' |
Ownership (%) | 50.00% |
Production Capacity (MW) | 207 |
DP&L Share [Member] | Conesville Unit 4 [Member] | ' |
Ownership (%) | 16.50% |
Production Capacity (MW) | 129 |
DP&L Share [Member] | East Bend Station [Member] | ' |
Ownership (%) | 31.00% |
Production Capacity (MW) | 186 |
DP&L Share [Member] | Killen Station [Member] | ' |
Ownership (%) | 67.00% |
Production Capacity (MW) | 402 |
DP&L Share [Member] | Miami Fort Units 7 and 8 [Member] | ' |
Ownership (%) | 36.00% |
Production Capacity (MW) | 368 |
DP&L Share [Member] | Stuart Station [Member] | ' |
Ownership (%) | 35.00% |
Production Capacity (MW) | 808 |
DP&L Share [Member] | Zimmer Station [Member] | ' |
Ownership (%) | 28.10% |
Production Capacity (MW) | 365 |
DP&L Share [Member] | Total Jointly-owned Stations [Member] | ' |
Production Capacity (MW) | 2,465 |
DP&L Share [Member] | Hutchings Station [Member] | ' |
Ownership (%) | 100.00% |
DP&L Share [Member] | DP&L [Member] | Beckjord Unit 6 [Member] | ' |
Ownership (%) | 50.00% |
Production Capacity (MW) | 207 |
DP&L Share [Member] | DP&L [Member] | Conesville Unit 4 [Member] | ' |
Ownership (%) | 16.50% |
Production Capacity (MW) | 129 |
DP&L Share [Member] | DP&L [Member] | East Bend Station [Member] | ' |
Ownership (%) | 31.00% |
Production Capacity (MW) | 186 |
DP&L Share [Member] | DP&L [Member] | Killen Station [Member] | ' |
Ownership (%) | 67.00% |
Production Capacity (MW) | 402 |
DP&L Share [Member] | DP&L [Member] | Miami Fort Units 7 and 8 [Member] | ' |
Ownership (%) | 36.00% |
Production Capacity (MW) | 368 |
DP&L Share [Member] | DP&L [Member] | Stuart Station [Member] | ' |
Ownership (%) | 35.00% |
Production Capacity (MW) | 808 |
DP&L Share [Member] | DP&L [Member] | Zimmer Station [Member] | ' |
Ownership (%) | 28.10% |
Production Capacity (MW) | 365 |
DP&L Share [Member] | DP&L [Member] | Total Jointly-owned Stations [Member] | ' |
Production Capacity (MW) | 2,465 |
DP&L Share [Member] | DP&L [Member] | Hutchings Station [Member] | ' |
Ownership (%) | 100.00% |
DP&L Investment [Member] | Beckjord Unit 6 [Member] | ' |
Gross Plant In Service | 2 |
Accumulated Depreciation | 1 |
SCR and FGD Equipment Installed and In Service | 'No |
DP&L Investment [Member] | Conesville Unit 4 [Member] | ' |
Gross Plant In Service | 52 |
Accumulated Depreciation | 2 |
SCR and FGD Equipment Installed and In Service | 'Yes |
DP&L Investment [Member] | East Bend Station [Member] | ' |
Gross Plant In Service | 13 |
Accumulated Depreciation | 4 |
Construction Work in Process | 3 |
SCR and FGD Equipment Installed and In Service | 'Yes |
DP&L Investment [Member] | Killen Station [Member] | ' |
Gross Plant In Service | 305 |
Accumulated Depreciation | 8 |
Construction Work in Process | 2 |
SCR and FGD Equipment Installed and In Service | 'Yes |
DP&L Investment [Member] | Miami Fort Units 7 and 8 [Member] | ' |
Gross Plant In Service | 212 |
Accumulated Depreciation | 11 |
SCR and FGD Equipment Installed and In Service | 'Yes |
DP&L Investment [Member] | Stuart Station [Member] | ' |
Gross Plant In Service | 202 |
Accumulated Depreciation | 12 |
Construction Work in Process | 11 |
SCR and FGD Equipment Installed and In Service | 'Yes |
DP&L Investment [Member] | Zimmer Station [Member] | ' |
Gross Plant In Service | 181 |
Accumulated Depreciation | 22 |
Construction Work in Process | 2 |
SCR and FGD Equipment Installed and In Service | 'Yes |
DP&L Investment [Member] | Total Jointly-owned Stations [Member] | ' |
Gross Plant In Service | 1,008 |
Accumulated Depreciation | 64 |
Construction Work in Process | 18 |
DP&L Investment [Member] | Transmission (At Varying Percentages) [Member] | ' |
Gross Plant In Service | 41 |
Accumulated Depreciation | 4 |
DP&L Investment [Member] | Hutchings Station [Member] | ' |
SCR and FGD Equipment Installed and In Service | 'No |
DP&L Investment [Member] | DP&L [Member] | Beckjord Unit 6 [Member] | ' |
Gross Plant In Service | 76 |
Accumulated Depreciation | 67 |
SCR and FGD Equipment Installed and In Service | 'No |
DP&L Investment [Member] | DP&L [Member] | Conesville Unit 4 [Member] | ' |
Gross Plant In Service | 44 |
Accumulated Depreciation | 1 |
SCR and FGD Equipment Installed and In Service | 'Yes |
DP&L Investment [Member] | DP&L [Member] | East Bend Station [Member] | ' |
Gross Plant In Service | 210 |
Accumulated Depreciation | 139 |
Construction Work in Process | 3 |
SCR and FGD Equipment Installed and In Service | 'Yes |
DP&L Investment [Member] | DP&L [Member] | Killen Station [Member] | ' |
Gross Plant In Service | 624 |
Accumulated Depreciation | 303 |
Construction Work in Process | 2 |
SCR and FGD Equipment Installed and In Service | 'Yes |
DP&L Investment [Member] | DP&L [Member] | Miami Fort Units 7 and 8 [Member] | ' |
Gross Plant In Service | 361 |
Accumulated Depreciation | 149 |
SCR and FGD Equipment Installed and In Service | 'Yes |
DP&L Investment [Member] | DP&L [Member] | Stuart Station [Member] | ' |
Gross Plant In Service | 744 |
Accumulated Depreciation | 305 |
Construction Work in Process | 11 |
SCR and FGD Equipment Installed and In Service | 'Yes |
DP&L Investment [Member] | DP&L [Member] | Zimmer Station [Member] | ' |
Gross Plant In Service | 1,098 |
Accumulated Depreciation | 652 |
Construction Work in Process | 2 |
SCR and FGD Equipment Installed and In Service | 'Yes |
DP&L Investment [Member] | DP&L [Member] | Total Jointly-owned Stations [Member] | ' |
Gross Plant In Service | 3,254 |
Accumulated Depreciation | 1,676 |
Construction Work in Process | 18 |
DP&L Investment [Member] | DP&L [Member] | Transmission (At Varying Percentages) [Member] | ' |
Gross Plant In Service | 97 |
Accumulated Depreciation | 60 |
DP&L Investment [Member] | DP&L [Member] | Hutchings Station [Member] | ' |
SCR and FGD Equipment Installed and In Service | 'No |
Debt_Obligations_Narrative_Det
Debt Obligations (Narrative) (Details) (USD $) | 9 Months Ended | 6 Months Ended | 9 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 4 Months Ended | 3 Months Ended | 8 Months Ended | 1 Months Ended | 4 Months Ended | 4 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | |||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 01, 2011 | Dec. 04, 2008 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 04, 2008 | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 01, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 01, 2011 | Aug. 31, 2011 | Apr. 20, 2010 | 10-May-13 | Oct. 19, 2012 | Aug. 24, 2011 | Apr. 20, 2010 | Aug. 24, 2011 | Aug. 24, 2011 | Sep. 30, 2013 | 10-May-13 | 10-May-13 | Sep. 30, 2013 | 10-May-13 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Aug. 24, 2011 | Sep. 30, 2013 | 10-May-13 | |
Cash on hand [Member] | Credit Facility [Member] | Other Debt [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | U.S. Government note maturing in February 2061 - 4.20% [Member] | U.S. Government note maturing in February 2061 - 4.20% [Member] | U.S. Government note maturing in February 2061 - 4.20% [Member] | U.S. Government note maturing in February 2061 - 4.20% [Member] | U.S. Government note maturing in February 2061 - 4.20% [Member] | U.S. Government note maturing in February 2061 - 4.20% [Member] | Revolving Credit Agreement with Bank Group [Member] | Revolving Credit Agreement with Bank Group [Member] | Revolving Credit Agreement with Bank Group [Member] | Revolving Credit Agreement with Bank Group [Member] | Revolving Credit Agreement with Bank Group [Member] | Revolving Credit Agreement with Bank Group [Member] | Revolving Credit Agreement with Bank Group [Member] | Revolving Credit Agreement with Bank Group expiring 2014 [Member] | Revolving Credit Agreeement with Bank Group Expiring 2018 [Member] | Revolving Credit Agreeement with Bank Group Expiring 2018 [Member] | Revolving Credit Agreeement with Bank Group Expiring 2018 [Member] | Revolving Credit Agreeement with Bank Group Expiring 2018 [Member] | Revolving 100M Credit Facility [Member] | Five Year Senior Unsecured Notes at 6.50% maturing on October 15, 2016 [Member] | Five Year Senior Unsecured Notes at 6.50% maturing on October 15, 2016 [Member] | Five Year Senior Unsecured Notes at 6.50% maturing on October 15, 2016 [Member] | Five Year Senior Unsecured Notes at 6.50% maturing on October 15, 2016 [Member] | Ten Year Senior Unsecured Notes at 7.25% maturing at October 15, 2021 [Member] | Ten Year Senior Unsecured Notes at 7.25% maturing at October 15, 2021 [Member] | Ten Year Senior Unsecured Notes at 7.25% maturing at October 15, 2021 [Member] | First Mortgage Bonds Maturing October 2013 [Member] | First Mortgage Bonds Maturing October 2013 [Member] | First Mortgage Bonds Maturing in September 2016 - 1.9% | First Mortgage Bonds Maturing in September 2016 - 1.9% | Note to DPL Capital Trust II Maturing in September 2031 - 8.125% [Member] | Note to DPL Capital Trust II Maturing in September 2031 - 8.125% [Member] | Pollution control series maturing in November 2040 - variable rates: 0.04% - 0.26% and 0.06% - 0.32% [Member] | Pollution control series maturing in November 2040 - variable rates: 0.04% - 0.26% and 0.06% - 0.32% [Member] | Pollution control series maturing in November 2040 - variable rates: 0.04% - 0.26% and 0.06% - 0.32% [Member] | Pollution control series maturing in November 2040 - variable rates: 0.04% - 0.26% and 0.06% - 0.32% [Member] | Bank Term Loan - variable rates: 2.22% - 2.30% and 1.48% - 4.25% [Member] | Bank Term Loan - variable rates: 2.22% - 2.30% and 1.48% - 4.25% [Member] | Bank Term Loan - variable rates: 2.22% - 2.30% and 1.48% - 4.25% [Member] | Bank Term Loan maturing in May 2018 [Member] | Bank Term Loan maturing in May 2018 [Member] | ||||||
DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | ||||||||||||||||||||||||||||||||||||||||||
Additional principal amount of senior notes to be raised | $1,250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $450 | ' | ' | ' | $800 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Debt instrument maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15-Oct-16 | ' | ' | ' | 15-Oct-21 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Debt Instrument, Maturity Date Range, End | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Feb-61 | ' | ' | 1-Feb-61 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Oct-16 | ' | ' | ' | 1-Oct-21 | ' | ' | ' | ' | ' | 1-Sep-31 | ' | 1-Nov-40 | ' | 1-Nov-40 | ' | 1-Aug-14 | ' | ' | 1-May-18 | ' | |
Unsecured revolving credit agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200 | ' | 75 | 200 | 200 | 200 | 125 | ' | 300 | 300 | ' | 100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Increase additional facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50 | 50 | 100 | ' | ' | 50 | 50 | ' | ' | ' | 100 | ' | 50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Decrease additional facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Letter of credit sublimit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50 | 50 | 100 | ' | ' | 50 | 50 | 75 | ' | ' | 100 | ' | 100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Letters of credit outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.4 | ' | ' | 0.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Collateralized debt | ' | ' | ' | 100 | ' | ' | ' | ' | ' | 100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Loans Payable, Noncurrent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 450 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Line of Credit Facility, Remaining Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 299.6 | ' | ' | 299.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Long-term Debt, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18.3 | 18.3 | 18.7 | 18.3 | 18.3 | 18.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 450 | 450 | ' | 450 | 800 | 800 | 800 | 470 | 470 | 445 | 445 | [1] | 19.6 | 19.6 | 100 | ' | 100 | ' | ' | 425 | 425 | 190 | 200 |
Current portion - long-term debt | 480.4 | 584.9 | ' | ' | ' | ' | ' | 470.3 | 570.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100 | ' | 100 | ' | ' | ' | 10 | ' | |
Term Loan Amortization Year 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | |
Repayments of debt | ' | ' | ' | ' | $175 | $50 | $200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Debt instrument interest percentage | ' | ' | 4.20% | ' | ' | ' | ' | ' | ' | ' | 4.20% | ' | ' | 4.20% | ' | 4.20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.50% | 6.50% | ' | ' | 7.25% | 7.25% | ' | ' | ' | ' | ' | 8.13% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
[1] |
Debt_Obligations_Longterm_Debt
Debt Obligations (Long-term Debt) (Details) (USD $) | 9 Months Ended | 12 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | ||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 01, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 01, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 01, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Aug. 24, 2011 | Sep. 30, 2013 | 10-May-13 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |
DP&L [Member] | DP&L [Member] | First Mortgage Bonds Maturing in October 2013 - 5.125% [Member] | First Mortgage Bonds Maturing in October 2013 - 5.125% [Member] | First Mortgage Bonds Maturing in September 2016 - 1.9% | First Mortgage Bonds Maturing in September 2016 - 1.9% | Pollution Control Series Maturing in January 2028 - 4.70% [Member] | Pollution Control Series Maturing in January 2028 - 4.70% [Member] | Pollution Control Series Maturing in January 2028 - 4.70% [Member] | Pollution Control Series Maturing in January 2028 - 4.70% [Member] | Pollution Control Series Maturing in January 2034 - 4.80% [Member] | Pollution Control Series Maturing in January 2034 - 4.80% [Member] | Pollution Control Series Maturing in January 2034 - 4.80% [Member] | Pollution Control Series Maturing in January 2034 - 4.80% [Member] | Pollution Control Series Maturing in September 2036 - 4.80% [Member] | Pollution Control Series Maturing in September 2036 - 4.80% [Member] | Pollution Control Series Maturing in September 2036 - 4.80% [Member] | Pollution Control Series Maturing in September 2036 - 4.80% [Member] | Pollution control series maturing in November 2040 - variable rates: 0.04% - 0.26% and 0.06% - 0.32% [Member] | Pollution control series maturing in November 2040 - variable rates: 0.04% - 0.26% and 0.06% - 0.32% [Member] | Pollution control series maturing in November 2040 - variable rates: 0.04% - 0.26% and 0.06% - 0.32% [Member] | Pollution control series maturing in November 2040 - variable rates: 0.04% - 0.26% and 0.06% - 0.32% [Member] | Pollution control series maturing in November 2040 - variable rates: 0.04% - 0.26% and 0.06% - 0.32% [Member] | Pollution control series maturing in November 2040 - variable rates: 0.04% - 0.26% and 0.06% - 0.32% [Member] | U.S. Government note maturing in February 2061 - 4.20% [Member] | U.S. Government note maturing in February 2061 - 4.20% [Member] | U.S. Government note maturing in February 2061 - 4.20% [Member] | U.S. Government note maturing in February 2061 - 4.20% [Member] | U.S. Government note maturing in February 2061 - 4.20% [Member] | U.S. Government note maturing in February 2061 - 4.20% [Member] | Bank Term Loan - variable rates: 2.22% - 2.30% and 1.48% - 4.25% [Member] | Bank Term Loan - variable rates: 2.22% - 2.30% and 1.48% - 4.25% [Member] | Bank Term Loan - variable rates: 2.22% - 2.30% and 1.48% - 4.25% [Member] | Bank Term Loan maturing in May 2018 [Member] | Bank Term Loan maturing in May 2018 [Member] | Note to DPL Capital Trust II Maturing in September 2031 - 8.125% [Member] | Note to DPL Capital Trust II Maturing in September 2031 - 8.125% [Member] | Five Year Senior Unsecured Notes at 6.50% maturing on October 15, 2016 [Member] | Five Year Senior Unsecured Notes at 6.50% maturing on October 15, 2016 [Member] | Ten Year Senior Unsecured Notes at 7.25% maturing at October 15, 2021 [Member] | Ten Year Senior Unsecured Notes at 7.25% maturing at October 15, 2021 [Member] | |||||
DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | ||||||||||||||||||||||||||||||||
Long-term debt, gross | ' | ' | ' | ' | ' | ' | ' | $445 | $445 | [1] | $36 | $36.10 | $35.30 | $35.30 | $179.60 | $179.60 | $179.10 | $179.10 | $96.30 | $96.30 | $100 | $100 | ' | $100 | ' | ' | $100 | ' | $18.30 | $18.30 | $18.70 | $18.30 | $18.30 | $18.70 | ' | $425 | $425 | $190 | $200 | $19.60 | $19.60 | $450 | $450 | $800 | $800 |
Total long-term debt at subsidary | 874.5 | 330.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Obligation for capital lease | ' | 0.1 | ' | ' | 0.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Unamortized debt discount | -0.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Total long-term debt | $2,334.10 | $2,025 | ' | $876.90 | $332.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Debt instrument maturity year | ' | ' | ' | ' | ' | 1-Oct-13 | 1-Oct-13 | ' | ' | 1-Jan-28 | ' | 1-Jan-28 | ' | 1-Jan-34 | ' | 1-Jan-34 | ' | 1-Sep-36 | ' | 1-Sep-36 | ' | ' | 1-Nov-40 | ' | ' | 1-Nov-40 | ' | 1-Feb-61 | ' | ' | 1-Feb-61 | ' | ' | 1-Aug-14 | ' | ' | 1-May-18 | ' | 1-Sep-31 | ' | 1-Oct-16 | ' | 1-Oct-21 | ' | |
Debt instrument interest percentage | ' | ' | 4.20% | ' | ' | 5.13% | 5.13% | ' | ' | 4.70% | ' | 4.70% | ' | 4.80% | ' | 4.80% | ' | 4.80% | ' | 4.80% | ' | ' | ' | ' | ' | ' | ' | 4.20% | ' | ' | 4.20% | ' | 4.20% | ' | ' | ' | ' | ' | 8.13% | ' | 6.50% | ' | 7.25% | ' | |
Debt instrument interest percentage minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.06% | 0.04% | ' | 0.06% | 0.04% | ' | ' | ' | ' | ' | ' | 2.46% | 2.22% | ' | 2.44% | ' | ' | ' | ' | ' | ' | ' | |
Debt instrument interest percentage maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.24% | 0.24% | 0.26% | 0.24% | ' | 0.26% | ' | ' | ' | ' | ' | ' | 2.46% | 2.47% | ' | 2.45% | ' | ' | ' | ' | ' | ' | ' | |
[1] |
Debt_Obligations_Current_porti
Debt Obligations (Current portion - Long-term Debt) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 01, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 01, 2011 | Sep. 30, 2013 |
In Millions, unless otherwise specified | DP&L [Member] | DP&L [Member] | Pollution control series maturing in November 2040 - variable rates: 0.04% - 0.26% and 0.06% - 0.32% [Member] | Pollution control series maturing in November 2040 - variable rates: 0.04% - 0.26% and 0.06% - 0.32% [Member] | Pollution control series maturing in November 2040 - variable rates: 0.04% - 0.26% and 0.06% - 0.32% [Member] | Pollution control series maturing in November 2040 - variable rates: 0.04% - 0.26% and 0.06% - 0.32% [Member] | Pollution control series maturing in November 2040 - variable rates: 0.04% - 0.26% and 0.06% - 0.32% [Member] | Pollution control series maturing in November 2040 - variable rates: 0.04% - 0.26% and 0.06% - 0.32% [Member] | First Mortgage Bonds Maturing in October 2013 - 5.125% [Member] | First Mortgage Bonds Maturing in October 2013 - 5.125% [Member] | First Mortgage Bonds Maturing in October 2013 - 5.125% [Member] | First Mortgage Bonds Maturing in October 2013 - 5.125% [Member] | U.S. Government note maturing in February 2061 - 4.20% [Member] | U.S. Government note maturing in February 2061 - 4.20% [Member] | U.S. Government note maturing in February 2061 - 4.20% [Member] | U.S. Government note maturing in February 2061 - 4.20% [Member] | U.S. Government note maturing in February 2061 - 4.20% [Member] | Bank Term Loan maturing in May 2018 [Member] | |||
DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | ||||||||||||||
Obligation for capital lease | $0.10 | $0.30 | ' | $0.20 | $0.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current portion - long-term debt | 480.4 | 584.9 | ' | 470.3 | 570.4 | ' | ' | 100 | ' | ' | 100 | 470.2 | 484.5 | 470 | 470 | ' | ' | ' | ' | ' | 10 |
Debt instrument maturity year | ' | ' | ' | ' | ' | ' | 1-Nov-40 | ' | ' | 1-Nov-40 | ' | 1-Oct-13 | ' | 1-Oct-13 | ' | 1-Feb-61 | ' | 1-Feb-61 | ' | ' | 1-May-18 |
Debt instrument interest percentage | ' | ' | 4.20% | ' | ' | ' | ' | ' | ' | ' | ' | 5.13% | ' | 5.13% | ' | 4.20% | ' | 4.20% | ' | 4.20% | ' |
Debt instrument interest percentage minimum | ' | ' | ' | ' | ' | ' | 0.06% | 0.04% | ' | 0.06% | 0.04% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.44% |
Debt instrument interest percentage maximum | ' | ' | ' | ' | ' | 0.24% | 0.24% | 0.26% | 0.24% | ' | 0.26% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.45% |
U.S. Government note maturing in February 2061 - 4.20%, current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.10 | $0.10 | $0.10 | $0.10 | ' | ' |
Debt_Obligations_Longterm_Debt1
Debt Obligations (Long-term Debt Maturities) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Due within one year | $480.30 | ' |
Due within two years | 40.1 | ' |
Due within three years | 485.1 | ' |
Due within four years | 490.1 | ' |
Due within five years | 70.1 | ' |
Thereafter | 1,252.80 | ' |
Total Maturities | 2,818.50 | ' |
Unamortized discounts and premiums, net | 4 | ' |
Total | 2,814.50 | ' |
DP&L [Member] | ' | ' |
Due within one year | 470.3 | ' |
Due within two years | 0.1 | ' |
Due within three years | 445.1 | ' |
Due within four years | 0.1 | ' |
Due within five years | 0.1 | ' |
Thereafter | 431.5 | ' |
Total Maturities | 1,347.20 | ' |
Unamortized discounts and premiums, net | $0.80 | $0.10 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Estimated annual effective income tax rate | ' | ' | 31.00% | 33.20% |
Tax Refund | $19.90 | ' | $19.90 | ' |
Decrease in income tax expense | ' | ' | 1.2 | ' |
Increase (decrease) in deferred tax liabilities | ' | ' | 41.1 | ' |
Additional tax decrease | ' | ' | 1.2 | ' |
Effective income tax rates | 25.40% | -1.20% | 21.50% | -2.30% |
DP&L [Member] | ' | ' | ' | ' |
Estimated annual effective income tax rate | ' | ' | 29.50% | 30.70% |
Increase (decrease) in deferred tax liabilities | ' | ' | $28.40 | ' |
Effective income tax rates | 24.40% | -138.30% | 22.50% | 40.30% |
Pension_and_Postretirement_Ben2
Pension and Postretirement Benefits (Net Periodic Benefit Cost (Income)) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||
Period in which the difference between market related value of assets is calculated in years, max | ' | ' | 'five | ' | ||
Period in which the difference between actual and estimated asset returns in MRVA is calculated | ' | ' | 'three | ' | ||
Market related value of assets | ' | ' | $346 | $336 | ||
Pension [Member] | ' | ' | ' | ' | ||
Service cost | 1.8 | 1.5 | 5.4 | 4.6 | ||
Interest cost | 3.8 | 4.3 | 11.6 | 12.9 | ||
Expected return on assets | -5.8 | -5.7 | -17.6 | -17 | ||
Actuarial (gain) / loss | 1.3 | 1.3 | 3.7 | 3.7 | ||
Prior service cost | 0.3 | 0.4 | 1.1 | 1.1 | ||
Net Periodic benefit cost / (income) before adjustments | 1.4 | 1.8 | 4.2 | 5.3 | ||
Settlement Cost | ' | 0.2 | ' | 0.2 | ||
Net periodic benefit cost / (income) | 1.4 | 2 | 4.2 | 5.5 | ||
Postretirement [Member] | ' | ' | ' | ' | ||
Service cost | ' | ' | 0.1 | 0.1 | ||
Interest cost | 0.2 | 0.2 | 0.6 | 0.6 | ||
Expected return on assets | ' | -0.1 | -0.2 | -0.2 | ||
Actuarial (gain) / loss | -0.1 | -0.1 | -0.3 | -0.5 | ||
Net Periodic benefit cost / (income) before adjustments | 0.1 | ' | 0.2 | ' | ||
Net periodic benefit cost / (income) | 0.1 | ' | 0.2 | ' | ||
DP&L [Member] | ' | ' | ' | ' | ||
Market related value of assets | ' | ' | 346 | 335 | ||
DP&L [Member] | Pension [Member] | ' | ' | ' | ' | ||
Service cost | 1.8 | 1.5 | 5.4 | 4.6 | ||
Interest cost | 3.8 | 4.3 | 11.6 | 12.9 | ||
Expected return on assets | -5.8 | -5.7 | -17.6 | [1] | -17 | [1] |
Actuarial (gain) / loss | 2.3 | 2.4 | 6.9 | 7.1 | ||
Prior service cost | 0.7 | 0.7 | 2.1 | 2.2 | ||
Net Periodic benefit cost / (income) before adjustments | 2.8 | 3.2 | 8.4 | 9.8 | ||
Settlement Cost | ' | 0.5 | ' | 0.5 | [2] | |
Net periodic benefit cost / (income) | 2.8 | 3.7 | 8.4 | 10.3 | ||
DP&L [Member] | Postretirement [Member] | ' | ' | ' | ' | ||
Service cost | ' | ' | 0.1 | 0.1 | ||
Interest cost | 0.2 | 0.2 | 0.6 | 0.6 | ||
Expected return on assets | -0.1 | -0.1 | -0.2 | [1] | -0.2 | [1] |
Actuarial (gain) / loss | -0.2 | -0.2 | -0.5 | -0.7 | ||
Prior service cost | 0.1 | 0.1 | 0.1 | 0.1 | ||
Net Periodic benefit cost / (income) before adjustments | ' | ' | 0.1 | -0.1 | ||
Net periodic benefit cost / (income) | ' | ' | $0.10 | ($0.10) | ||
[1] | (a) For purposes of calculating the expected return on pension plan assets, under GAAP, the market-related value of assets (MRVA) is used. GAAP requires that the difference between actual plan asset returns and estimated plan asset returns be included in the MRVA equally over a period not to exceed five years.B We use a methodology under which we include the difference between actual and estimated asset returns in the MRVA equally over a three year period.B The MRVA used in the calculation of expected return on pension plan assets for the 2013 and 2012 net periodic benefit cost was approximately $346.0 million and $336.0 million, respectively. (b) The settlement cost relates to a former officer who has elected to receive a lump sum distribution in 2012 from the Supplemental Executive Retirement Plan.Benefit payments and Medicare Part D reimbursements, which reflect future service, are estimated to be paid as follows:$ in millionsPensionPostretirement2013$ 5.5$ 0.62014 22.5 2.22015 23.0 2.02016 23.3 1.92017 23.7 1.72018 - 2022 122.6 6.8 | |||||
[2] | The settlement cost relates to a former officer who has elected to receive a lump sum distribution in 2012 from the Supplemental Executive Retirement Plan. |
Pension_and_Postretirement_Ben3
Pension and Postretirement Benefits (Estimated Future Benefit Payments and Medicare Part D Reimbursements) (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Pension [Member] | ' |
2013 | $5.50 |
2014 | 22.5 |
2015 | 23 |
2016 | 23.3 |
2017 | 23.7 |
2018 - 2021 | 122.6 |
Postretirement [Member] | ' |
2013 | 0.6 |
2014 | 2.2 |
2015 | 2 |
2016 | 1.9 |
2017 | 1.7 |
2018 - 2021 | 6.8 |
DP&L [Member] | Pension [Member] | ' |
2013 | 5.5 |
2014 | 22.5 |
2015 | 23 |
2016 | 23.3 |
2017 | 23.7 |
2018 - 2021 | 122.6 |
DP&L [Member] | Postretirement [Member] | ' |
2013 | 0.6 |
2014 | 2.2 |
2015 | 2 |
2016 | 1.9 |
2017 | 1.7 |
2018 - 2021 | $6.80 |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Long Term Debt Range Adjusted To Fair Value at Merger Start | '2013 | ' |
Long Term Debt Range Adjusted To Fair Value At Merger End | '2061 | ' |
Unrealized gains / (losses) on financial instruments, Amount before tax | $0.70 | $0.70 |
Available-for-sale Securities, Change in Net Unrealized Holding Gain (Loss), Net of Tax | ' | 0.5 |
Unrealized gains and immaterial unrealized losses in AOCI, after tax | -0.5 | ' |
Unrealized gains or losses are expected to be transferred to earnings in the next twelve months. | 0.1 | ' |
Unrealized gains or losses expected to be realized over next twelve months, net of tax | -0.1 | ' |
Percent of inputs to the fair value of derivative instruments from quoted market prices | 96.00% | ' |
Money market funds | 35 | 130 |
Available-for-sale Securities, Gross Realized Gains (Losses), Sale Proceeds | 2.1 | ' |
AvailableForSaleSecuritiesGross Realized Gains Losses Sale Proceeds Net of Tax | -1.4 | ' |
DP&L [Member] | ' | ' |
Long Term Debt Range Adjusted To Fair Value at Merger Start | '2013 | ' |
Long Term Debt Range Adjusted To Fair Value At Merger End | '2061 | ' |
Unrealized gains / (losses) on financial instruments, Amount before tax | ' | 1.6 |
Available-for-sale Securities, Change in Net Unrealized Holding Gain (Loss), Net of Tax | ' | 1 |
Unrealized gains and immaterial unrealized losses in AOCI, before tax | 1 | ' |
Unrealized gains and immaterial unrealized losses in AOCI, after tax | -0.7 | ' |
Unrealized gains or losses are expected to be transferred to earnings in the next twelve months. | 0.1 | ' |
Unrealized gains or losses expected to be realized over next twelve months, net of tax | -0.1 | ' |
Percent of inputs to the fair value of derivative instruments from quoted market prices | 96.00% | ' |
Available-for-sale Securities, Gross Realized Gains (Losses), Sale Proceeds | 2.1 | ' |
AvailableForSaleSecuritiesGross Realized Gains Losses Sale Proceeds Net of Tax | ($1.40) | ' |
Fair_Value_Measurements_Fair_V
Fair Value Measurements (Fair Value and Cost of Non-Derivative Instruments) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
DP&L [Member] | ' | ' |
Total Master Trust Assets, Cost | $10.70 | $9.10 |
Total Master Trust Assets, Fair Value | 11.6 | 10.6 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' |
Total Master Trust Assets, Cost | ' | 9.1 |
Total Assets | 10.7 | ' |
Fair Value [Member] | ' | ' |
Total Assets | 11.6 | 10.6 |
Equity Securities [Member] | DP&L [Member] | ' | ' |
Total Master Trust Assets, Cost | 3.5 | 4 |
Total Master Trust Assets, Fair Value | 4.4 | 5.1 |
Equity Securities [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' |
Total Master Trust Assets, Cost | 3.5 | 4 |
Equity Securities [Member] | Fair Value [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 4.4 | 5.1 |
Debt Securities [Member] | DP&L [Member] | ' | ' |
Total Master Trust Assets, Cost | 5.8 | 4.6 |
Total Master Trust Assets, Fair Value | 5.8 | 5 |
Debt Securities [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' |
Total Master Trust Assets, Cost | 5.8 | 4.6 |
Debt Securities [Member] | Fair Value [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 5.8 | 5 |
Hedge Funds, Multi-strategy [Member] | DP&L [Member] | ' | ' |
Total Master Trust Assets, Cost | ' | 0.3 |
Total Master Trust Assets, Fair Value | ' | 0.3 |
Hedge Funds, Multi-strategy [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' |
Total Master Trust Assets, Cost | ' | 0.3 |
Hedge Funds, Multi-strategy [Member] | Fair Value [Member] | ' | ' |
Total Master Trust Assets, Fair Value | ' | 0.3 |
Money Market Funds [Member] | DP&L [Member] | ' | ' |
Total Master Trust Assets, Cost | 0.1 | 0.2 |
Total Master Trust Assets, Fair Value | 0.1 | 0.2 |
Money Market Funds [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' |
Total Master Trust Assets, Cost | 0.1 | 0.2 |
Money Market Funds [Member] | Fair Value [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 0.1 | 0.2 |
Debt [Member] | DP&L [Member] | ' | ' |
Debt, Cost | 1,347.20 | 903.1 |
Debt, Fair Value | 1,330.80 | 926.9 |
Debt [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' |
Debt, Cost | 2,814.50 | 2,609.90 |
Debt [Member] | Fair Value [Member] | ' | ' |
Debt, Fair Value | 2,855.30 | 2,707.10 |
Hedge Funds, Global Opportunity [Member] | DP&L [Member] | ' | ' |
Total Master Trust Assets, Cost | 0.9 | ' |
Total Master Trust Assets, Fair Value | 0.9 | ' |
Hedge Funds, Global Opportunity [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' |
Total Master Trust Assets, Cost | 0.9 | ' |
Hedge Funds, Global Opportunity [Member] | Fair Value [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 0.9 | ' |
Hedge Funds [Member] | DP&L [Member] | ' | ' |
Total Master Trust Assets, Cost | 0.4 | ' |
Total Master Trust Assets, Fair Value | 0.4 | ' |
Hedge Funds [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' |
Total Master Trust Assets, Cost | 0.4 | ' |
Hedge Funds [Member] | Fair Value [Member] | ' | ' |
Total Master Trust Assets, Fair Value | $0.40 | ' |
Fair_Value_Measurements_Fair_V1
Fair Value Measurements (Fair Value and Redemption Frequency) (Details) (USD $) | 3 Months Ended | |||||
In Millions, unless otherwise specified | Mar. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | |||
Total Fair Value | ' | $11.60 | $10.60 | |||
DP&L [Member] | ' | ' | ' | |||
Total Fair Value | ' | 11.6 | 10.6 | |||
Equity Securities [Member] | ' | ' | ' | |||
Redemption Frequency | 'Immediate | [1] | ' | ' | ||
Total Fair Value | ' | 4.4 | [1] | 5.1 | [1] | |
Equity Securities [Member] | DP&L [Member] | ' | ' | ' | |||
Total Fair Value | ' | 4.4 | [1] | 5.1 | [1] | |
Debt Securities [Member] | ' | ' | ' | |||
Redemption Frequency | 'Immediate | [2] | ' | ' | ||
Total Fair Value | ' | 5.8 | [2] | 5 | [2] | |
Debt Securities [Member] | DP&L [Member] | ' | ' | ' | |||
Total Fair Value | ' | 5.8 | [2] | 5 | [2] | |
Money Market Funds [Member] | ' | ' | ' | |||
Redemption Frequency | 'Immediate | [3] | ' | ' | ||
Total Fair Value | ' | 0.1 | [3] | 0.2 | [3] | |
Money Market Funds [Member] | DP&L [Member] | ' | ' | ' | |||
Total Fair Value | ' | 0.1 | [3] | 0.2 | [3] | |
Hedge Funds, Multi-strategy [Member] | ' | ' | ' | |||
Redemption Frequency | 'Immediate | [4] | ' | ' | ||
Total Fair Value | ' | ' | 0.3 | [4] | ||
Hedge Funds, Multi-strategy [Member] | DP&L [Member] | ' | ' | ' | |||
Total Fair Value | ' | ' | 0.3 | [4] | ||
Hedge Funds, Global Opportunity [Member] | ' | ' | ' | |||
Redemption Frequency | 'Immediate | [5] | ' | ' | ||
Total Fair Value | ' | 0.9 | [5] | ' | ||
Hedge Funds, Global Opportunity [Member] | DP&L [Member] | ' | ' | ' | |||
Total Fair Value | ' | 0.9 | [5] | ' | ||
Hedge Funds [Member] | ' | ' | ' | |||
Redemption Frequency | 'Immediate | [6] | ' | ' | ||
Total Fair Value | ' | 0.4 | [6] | ' | ||
Hedge Funds [Member] | DP&L [Member] | ' | ' | ' | |||
Total Fair Value | ' | $0.40 | [6] | ' | ||
[1] | (b) This category includes investments in hedge funds representing an S&P 500 Index and the Morgan Stanley Capital International U.S. Small Cap 1750 Index. Investments in this category can be redeemed immediately at the current NAV per unit. | |||||
[2] | (c) This category includes investments in U.S. Treasury obligations and U.S. investment grade bonds. Investments in this category can be redeemed immediately at the current NAV per unit. | |||||
[3] | (a) This category includes investments in high-quality, short-term securities. Investments in this category can be redeemed immediately at the current NAV. | |||||
[4] | (d) This category includes investments in stocks, bonds and short-term investments in a mix of actively managed funds. Investments in this category can be redeemed immediately at the current NAV per unit. | |||||
[5] | (e)This category includes hedge funds investing in fixed income securities and currencies, short and long-term equity investments, and a diversified fund with investments in bonds, stocks, real estate and commodities. | |||||
[6] | (f)This category includes EFT real estate funds that invest in U.S. and International properties |
Fair_Value_Measurements_Fair_V2
Fair Value Measurements (Fair Value of Assets and Liabilities Measured on Recurring Basis) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
DP&L [Member] | ' | ' |
Total Master Trust Assets, Fair Value | $11.60 | $10.60 |
Total Derivative Assets | 21.7 | 7.5 |
Total Assets | 33.3 | 18.1 |
Debt Instrument, Fair Value Disclosure | 1,330.80 | 926.9 |
Total Derivative Liabilities | 10.1 | 11.7 |
Total Liabilities | 1,340.90 | 938.6 |
DP&L [Member] | Forward Contract Power [Member] | ' | ' |
Total Derivative Assets | 21.2 | 7.3 |
Total Derivative Liabilities | 10.1 | 11.6 |
DP&L [Member] | Commodity Contract - FTR [Member] | ' | ' |
Total Derivative Assets | 0.4 | ' |
Total Derivative Liabilities | ' | 0.1 |
DP&L [Member] | Commodity Contract - Heating Oil [Member] | ' | ' |
Total Derivative Assets | 0.1 | 0.2 |
Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 11.6 | 10.6 |
Total Derivative Assets | 21.6 | 6.5 |
Total Assets | 33.2 | 17.1 |
Total Derivative Liabilities | 10.3 | 42.7 |
Total Liabilities | 2,865.60 | 2,749.80 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Forward Contract Power [Member] | ' | ' |
Total Derivative Assets | 21.1 | 6.3 |
Total Derivative Liabilities | ' | 13.1 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Commodity Contract - FTR [Member] | ' | ' |
Total Derivative Assets | 0.4 | ' |
Total Derivative Liabilities | ' | 0.1 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Commodity Contract - Heating Oil [Member] | ' | ' |
Total Derivative Assets | 0.1 | 0.2 |
Estimate of Fair Value, Fair Value Disclosure [Member] | Interest Rate Contract [Member] | ' | ' |
Total Derivative Liabilities | 10.3 | 29.5 |
Level 1 [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 0.1 | 0.2 |
Total Derivative Assets | 0.1 | 0.2 |
Total Assets | 0.2 | 0.4 |
Level 1 [Member] | Commodity Contract - Heating Oil [Member] | ' | ' |
Total Derivative Assets | 0.1 | 0.2 |
Level 1 [Member] | DP&L [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 0.1 | 0.2 |
Total Derivative Assets | 0.1 | 0.2 |
Total Assets | 0.2 | 0.4 |
Level 1 [Member] | DP&L [Member] | Commodity Contract - Heating Oil [Member] | ' | ' |
Total Derivative Assets | 0.1 | 0.2 |
Level 2 [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 11.5 | 10.4 |
Total Derivative Assets | 21.1 | 6.3 |
Total Assets | 32.6 | 16.7 |
Total Derivative Liabilities | 10.3 | 42.6 |
Total Liabilities | 2,847 | 2,730.80 |
Level 2 [Member] | Forward Contract Power [Member] | ' | ' |
Total Derivative Assets | 21.1 | 6.3 |
Total Derivative Liabilities | ' | 13.1 |
Level 2 [Member] | Interest Rate Contract [Member] | ' | ' |
Total Derivative Liabilities | 10.3 | 29.5 |
Level 2 [Member] | DP&L [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 11.5 | 10.4 |
Total Derivative Assets | 21.2 | 7.3 |
Total Assets | 32.7 | 17.7 |
Debt Instrument, Fair Value Disclosure | 1,312.20 | 908 |
Total Derivative Liabilities | 10.1 | 11.6 |
Total Liabilities | 1,322.30 | 919.6 |
Level 2 [Member] | DP&L [Member] | Forward Contract Power [Member] | ' | ' |
Total Derivative Assets | 21.2 | 7.3 |
Total Derivative Liabilities | 10.1 | 11.6 |
Level 3 [Member] | ' | ' |
Total Derivative Assets | 0.4 | ' |
Total Assets | 0.4 | ' |
Total Derivative Liabilities | ' | 0.1 |
Total Liabilities | 18.6 | 19 |
Level 3 [Member] | Commodity Contract - FTR [Member] | ' | ' |
Total Derivative Assets | 0.4 | ' |
Total Derivative Liabilities | ' | 0.1 |
Level 3 [Member] | DP&L [Member] | ' | ' |
Total Derivative Assets | 0.4 | ' |
Total Assets | 0.4 | ' |
Debt Instrument, Fair Value Disclosure | 18.6 | 18.9 |
Total Derivative Liabilities | ' | 0.1 |
Total Liabilities | 18.6 | 19 |
Level 3 [Member] | DP&L [Member] | Commodity Contract - FTR [Member] | ' | ' |
Total Derivative Assets | 0.4 | ' |
Total Derivative Liabilities | ' | 0.1 |
Equity Securities [Member] | DP&L [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 4.4 | 5.1 |
Equity Securities [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 4.4 | 5.1 |
Equity Securities [Member] | Level 2 [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 4.4 | 5.1 |
Equity Securities [Member] | Level 2 [Member] | DP&L [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 4.4 | 5.1 |
Equity Securities [Member] | Fair Value [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 4.4 | 5.1 |
Debt Securities [Member] | DP&L [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 5.8 | 5 |
Debt Securities [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 5.8 | 5 |
Debt Securities [Member] | Level 2 [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 5.8 | 5 |
Debt Securities [Member] | Level 2 [Member] | DP&L [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 5.8 | 5 |
Debt Securities [Member] | Fair Value [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 5.8 | 5 |
Money Market Funds [Member] | DP&L [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 0.1 | 0.2 |
Money Market Funds [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 0.1 | 0.2 |
Money Market Funds [Member] | Level 1 [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 0.1 | 0.2 |
Money Market Funds [Member] | Level 1 [Member] | DP&L [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 0.1 | 0.2 |
Money Market Funds [Member] | Fair Value [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 0.1 | 0.2 |
Hedge Funds, Multi-strategy [Member] | DP&L [Member] | ' | ' |
Total Master Trust Assets, Fair Value | ' | 0.3 |
Hedge Funds, Multi-strategy [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Total Master Trust Assets, Fair Value | ' | 0.3 |
Hedge Funds, Multi-strategy [Member] | Level 2 [Member] | ' | ' |
Total Master Trust Assets, Fair Value | ' | 0.3 |
Hedge Funds, Multi-strategy [Member] | Level 2 [Member] | DP&L [Member] | ' | ' |
Total Master Trust Assets, Fair Value | ' | 0.3 |
Hedge Funds, Multi-strategy [Member] | Fair Value [Member] | ' | ' |
Total Master Trust Assets, Fair Value | ' | 0.3 |
Debt [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Debt Instrument, Fair Value Disclosure | 2,855.30 | 2,707.10 |
Debt [Member] | Level 2 [Member] | ' | ' |
Debt Instrument, Fair Value Disclosure | 2,836.70 | 2,688.20 |
Debt [Member] | Level 3 [Member] | ' | ' |
Debt Instrument, Fair Value Disclosure | 18.6 | 18.9 |
Hedge Funds [Member] | DP&L [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 0.4 | ' |
Hedge Funds [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 0.4 | ' |
Hedge Funds [Member] | Level 2 [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 0.4 | ' |
Hedge Funds [Member] | Level 2 [Member] | DP&L [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 0.4 | ' |
Hedge Funds [Member] | Fair Value [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 0.4 | ' |
Hedge Funds, Global Opportunity [Member] | DP&L [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 0.9 | ' |
Hedge Funds, Global Opportunity [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 0.9 | ' |
Hedge Funds, Global Opportunity [Member] | Level 2 [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 0.9 | ' |
Hedge Funds, Global Opportunity [Member] | Level 2 [Member] | DP&L [Member] | ' | ' |
Total Master Trust Assets, Fair Value | 0.9 | ' |
Hedge Funds, Global Opportunity [Member] | Fair Value [Member] | ' | ' |
Total Master Trust Assets, Fair Value | $0.90 | ' |
Derivative_Instruments_and_Hed2
Derivative Instruments and Hedging Activities (Narrative) (Details) (USD $) | Sep. 30, 2013 | Mar. 01, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | DP&L [Member] | Short-term Derivative Positions [Member] | Short-term Derivative Positions [Member] | Long-term Derivative Positions [Member] | Long-term Derivative Positions [Member] | ||
Amount No Longer Considered Derivative | $2.30 | ' | ' | ' | $7.20 | ' | $1 |
Debt instrument interest percentage | ' | 4.20% | ' | ' | ' | ' | ' |
Fair value of commodity derivative instruments | 10.3 | ' | 10.1 | ' | ' | ' | ' |
Liability position offset by the asset position of counterparties with master netting agreements | 4.9 | ' | 4.9 | ' | ' | ' | ' |
Collateral Already Posted, Aggregate Fair Value | 4.4 | ' | 4.2 | ' | ' | ' | ' |
Collateral if debt were to fall below investment grade | 1 | ' | 1 | ' | ' | ' | ' |
Derivative Assets, Current | ' | ' | ' | 6.5 | 2.7 | ' | ' |
Derivative Assets, Noncurrent | ' | ' | ' | ' | ' | $14.60 | $3.60 |
Derivative_Instruments_and_Hed3
Derivative Instruments and Hedging Activities (Outstanding Derivative Instruments) (Details) (USD $) | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | |
Interest Rate Contract [Member] | Forward Contract Power [Member] | Forward Contract Power [Member] | DP&L [Member] | DP&L [Member] | Commodity Contract - FTR [Member] | Commodity Contract - FTR [Member] | Commodity Contract - Heating Oil [Member] | Commodity Contract - Heating Oil [Member] | Forward Contract Power [Member] | Forward Contract Power [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | |
MWh | MWh | Forward Contract Power [Member] | Forward Contract Power [Member] | MWh | MWh | gal | gal | MWh | MWh | Commodity Contract - FTR [Member] | Commodity Contract - FTR [Member] | Commodity Contract - Heating Oil [Member] | Commodity Contract - Heating Oil [Member] | Forward Contract Power [Member] | Forward Contract Power [Member] | ||
MWh | MWh | MWh | MWh | gal | gal | MWh | MWh | ||||||||||
Purchase of Units Derivative Instruments Financial Transmission Rights | ' | ' | ' | ' | ' | 10,700 | 6,900 | ' | ' | ' | ' | 10,700 | 6,900 | ' | ' | ' | ' |
Purchase of Volume Units Derivative Instruments Heating Oil Futures | ' | ' | ' | ' | ' | ' | ' | 1,638,000 | 1,764,000 | ' | ' | ' | ' | 1,638,000 | 1,764,000 | ' | ' |
Purchase of Units Derivative Instruments Forward Power Contracts Designated as Cash Flow Hedge | ' | 421,600 | 1,021,000 | 421,600 | 1,021,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales of Units Derivative Instruments Forward Power Contracts Designated as Cash Flow Hedge | ' | -4,719,400 | -2,197,900 | -4,719,400 | -2,197,900 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase of Units Derivative Instruments Forward Power Contracts Not Designated as Hedged | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,653,300 | 2,510,700 | ' | ' | ' | ' | 2,624,600 | 2,296,600 |
Sales of Units Derivative Instruments Forward Power Contracts Not Designated as Hedged | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7,012,500 | -4,760,400 | ' | ' | ' | ' | -7,041,300 | -4,760,400 |
Purchase of Derivative Instruments Interest Rate Swaps | $160,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, Nonmonetary Notional Amount MWh | ' | -4,297,800 | -1,176,900 | -4,297,800 | -1,176,900 | 10,700 | 6,900 | ' | ' | -4,359,200 | -2,249,700 | 10,700 | 6,900 | ' | ' | -4,416,700 | -2,463,800 |
Derivative, Nonmonetary Notional Amount Volume | ' | ' | ' | ' | ' | ' | ' | 1,638,000 | 1,764,000 | ' | ' | ' | ' | 1,638,000 | 1,764,000 | ' | ' |
Notional Amount of Derivatives | $160,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative_Instruments_and_Hed4
Derivative Instruments and Hedging Activities (Gains or Losses Recognized in AOCI for the Cash Flow Hedges) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Mar. 31, 2013 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Forward Contract Power [Member] | Forward Contract Power [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | Interest Expense [Member] | Interest Expense [Member] | Interest Expense [Member] | Interest Expense [Member] | Revenue [Member] | Revenue [Member] | Revenue [Member] | Revenue [Member] | Revenue [Member] | Purchased Power [Member] | Purchased Power [Member] | Purchased Power [Member] | Purchased Power [Member] | Purchased Power [Member] | Purchased Power [Member] | |
Forward Contract Power [Member] | Forward Contract Power [Member] | Forward Contract Power [Member] | Forward Contract Power [Member] | Forward Contract Power [Member] | Forward Contract Power [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | Forward Contract Power [Member] | Forward Contract Power [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | Forward Contract Power [Member] | Forward Contract Power [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | DP&L [Member] | |||||
Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Forward Contract Power [Member] | Forward Contract Power [Member] | Forward Contract Power [Member] | Forward Contract Power [Member] | Forward Contract Power [Member] | Forward Contract Power [Member] | Forward Contract Power [Member] | ||||||||||||||||||||||
Beginning accumulated derivative gain / (loss) in AOCI | ($1.10) | ($2.40) | $12.80 | ($4.70) | ' | ' | ($4.70) | ($0.70) | ($1.90) | ($3.40) | ' | ' | $7.30 | $6.10 | $8.60 | $9.80 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net gains / (losses) associated with current period hedging transactions | -0.2 | -2.2 | 6.4 | 2.5 | -0.3 | -2.5 | ' | -4 | ' | ' | ' | -0.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net gains reclassified to earnings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.6 | -1.8 | -1.8 | 0.3 | -0.1 | 0.3 | 1.4 | 0.1 | 1 | 0.1 | 1.3 | -0.1 | 2.7 | -1.4 |
Ending accumulated derivative gain / (loss) in AOCI | ' | -4.6 | 19.2 | -2.2 | -0.6 | -6 | -0.6 | -6 | -1.9 | -3.4 | 5.5 | 8 | 5.5 | 6.1 | 8.6 | 9.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net gains / (losses) associated with the ineffective portion of the hedging transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Portion expected to be reclassified to earnings in the next twelve months | ($2.90) | ' | ($1) | ' | ($2.30) | ' | ($2.30) | ' | ' | ' | ($2.40) | ' | ($2.40) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) | '39 months | ' | '0 months | ' | '39 months | ' | '39 months | ' | ' | ' | '0 months | ' | '0 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative_Instruments_and_Hed5
Derivative Instruments and Hedging Activities (Fair Values of Derivative Instruments Designated as Hedging Instruments) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Derivative Liability, Fair Value | ($10.30) | ' |
DP&L [Member] | ' | ' |
Derivative Liability, Fair Value | -10.1 | ' |
Not Designated as Hedging Instrument [Member] | Forward Contract Power [Member] | Short-term Derivative Positions [Member] | Other Prepayments and Current Assets [Member] | ' | ' |
Derivative Asset, Fair Value | 5.1 | 2.7 |
Derivative, Fair Value, Net | 2.5 | 1.2 |
Derivative, Fair Value, Offset, Net | -2.6 | -1.5 |
Not Designated as Hedging Instrument [Member] | Forward Contract Power [Member] | Short-term Derivative Positions [Member] | Other Prepayments and Current Assets [Member] | DP&L [Member] | ' | ' |
Derivative Asset, Fair Value | 5.2 | 2.8 |
Derivative, Fair Value, Net | 2.6 | 1.3 |
Derivative, Fair Value, Offset, Net | -2.6 | -1.5 |
Not Designated as Hedging Instrument [Member] | Forward Contract Power [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | ' | ' |
Derivative Liability, Fair Value | -5 | -4.1 |
Derivative, Fair Value, Net | 0.3 | 0.6 |
Derivative, Collateral, net | -2.1 | -2 |
Derivative, Fair Value, Offset, Net | -2.6 | -1.5 |
Not Designated as Hedging Instrument [Member] | Forward Contract Power [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | DP&L [Member] | ' | ' |
Derivative Liability, Fair Value | -4.7 | -2.7 |
Derivative, Fair Value, Net | 0.3 | 0.7 |
Derivative, Collateral, net | -1.8 | -0.5 |
Derivative, Fair Value, Offset, Net | -2.6 | -1.5 |
Not Designated as Hedging Instrument [Member] | Forward Contract Power [Member] | Long-term Derivative Positions [Member] | Other Deferred Credit [Member] | ' | ' |
Derivative Liability, Fair Value | -1.1 | -0.8 |
Derivative, Fair Value, Net | 0.4 | 0.1 |
Derivative, Collateral, net | ' | -0.1 |
Derivative, Fair Value, Offset, Net | -0.7 | -0.6 |
Not Designated as Hedging Instrument [Member] | Forward Contract Power [Member] | Long-term Derivative Positions [Member] | Other Deferred Credit [Member] | DP&L [Member] | ' | ' |
Derivative Liability, Fair Value | -1.1 | -0.7 |
Derivative, Fair Value, Net | 0.3 | 0.1 |
Derivative, Collateral, net | -0.1 | ' |
Derivative, Fair Value, Offset, Net | -0.7 | -0.6 |
Not Designated as Hedging Instrument [Member] | Forward Contract Power [Member] | Long-term Derivative Positions [Member] | Other Deferred Asset [Member] | ' | ' |
Derivative Asset, Fair Value | 12.7 | 3.6 |
Derivative, Fair Value, Net | 12 | 3 |
Derivative, Fair Value, Offset, Net | -0.7 | -0.6 |
Not Designated as Hedging Instrument [Member] | Forward Contract Power [Member] | Long-term Derivative Positions [Member] | Other Deferred Asset [Member] | DP&L [Member] | ' | ' |
Derivative Asset, Fair Value | 12.7 | 3.6 |
Derivative, Fair Value, Net | 12 | 3 |
Derivative, Fair Value, Offset, Net | ($0.70) | ($0.60) |
Derivative_Instruments_and_Hed6
Derivative Instruments and Hedging Activities (Classification within the Condensed Consolidated Statements of Results of Operations or Balance Sheets of the Gains and Losses) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Change in unrealized gain / (loss) | ' | $12.70 | ' | $11.20 |
Derivative, Gain (Loss) on Derivative, Net | ' | -12.1 | ' | -29 |
Gain (Loss) on Derivative Instruments, Net, Pretax | ' | ' | ' | -17.8 |
Partner's share of gain (loss) | ' | ' | ' | 3.5 |
Regulatory (asset)/liability | ' | ' | ' | 0.3 |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ' | 0.6 | ' | -17.8 |
NYMEX Coal Contract [Member] | ' | ' | ' | ' |
Change in unrealized gain / (loss) | 0.1 | 15.5 | -0.2 | 13.4 |
Derivative, Gain (Loss) on Derivative, Net | 0.1 | -12.8 | ' | -27.2 |
Gain (Loss) on Derivative Instruments, Net, Pretax | ' | ' | -0.2 | -13.8 |
Partner's share of gain (loss) | ' | ' | ' | 3.5 |
Regulatory (asset)/liability | ' | ' | ' | 0.9 |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | 0.2 | 2.7 | -0.2 | -13.8 |
Commodity Contract - FTR [Member] | ' | ' | ' | ' |
Change in unrealized gain / (loss) | 0.1 | 0.1 | 10.5 | -0.1 |
Derivative, Gain (Loss) on Derivative, Net | -0.8 | 0.1 | 0.5 | 0.5 |
Gain (Loss) on Derivative Instruments, Net, Pretax | ' | ' | 11 | 0.4 |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | -0.7 | 0.2 | 11 | 0.4 |
Commodity Contract - Heating Oil [Member] | ' | ' | ' | ' |
Change in unrealized gain / (loss) | 1.3 | ' | 0.4 | -1.5 |
Derivative, Gain (Loss) on Derivative, Net | ' | 0.5 | 1.2 | 1.9 |
Gain (Loss) on Derivative Instruments, Net, Pretax | ' | ' | 1.6 | 0.4 |
Regulatory (asset)/liability | ' | ' | ' | -0.6 |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | 1.3 | 0.5 | 1.6 | 0.4 |
Forward Contract Power [Member] | ' | ' | ' | ' |
Change in unrealized gain / (loss) | 1.5 | -2.9 | 10.7 | -0.6 |
Derivative, Gain (Loss) on Derivative, Net | -0.7 | 0.1 | 1.7 | -4.2 |
Gain (Loss) on Derivative Instruments, Net, Pretax | ' | ' | 12.4 | -4.8 |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | 0.8 | -2.8 | 12.4 | -4.8 |
DP&L [Member] | ' | ' | ' | ' |
Change in unrealized gain / (loss) | ' | 10.1 | ' | 7.2 |
Derivative, Gain (Loss) on Derivative, Net | ' | -8 | ' | -20.6 |
Gain (Loss) on Derivative Instruments, Net, Pretax | ' | 2.1 | ' | -13.4 |
Partner's share of gain (loss) | ' | 4.7 | ' | 3.5 |
Regulatory (asset)/liability | ' | 1.1 | ' | 0.3 |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ' | 2.1 | ' | -13.4 |
DP&L [Member] | NYMEX Coal Contract [Member] | ' | ' | ' | ' |
Change in unrealized gain / (loss) | 0.1 | 15.5 | -0.2 | 13.4 |
Derivative, Gain (Loss) on Derivative, Net | 0.1 | -12.8 | ' | -27.2 |
Gain (Loss) on Derivative Instruments, Net, Pretax | 0.2 | 2.7 | -0.2 | -13.8 |
Partner's share of gain (loss) | ' | 4.7 | ' | 3.5 |
Regulatory (asset)/liability | ' | 1.2 | ' | 0.9 |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | 0.2 | 2.7 | -0.2 | -13.8 |
DP&L [Member] | Commodity Contract - FTR [Member] | ' | ' | ' | ' |
Change in unrealized gain / (loss) | -0.1 | 0.1 | 8.9 | -0.1 |
Derivative, Gain (Loss) on Derivative, Net | -0.8 | 0.1 | 1.1 | 0.5 |
Gain (Loss) on Derivative Instruments, Net, Pretax | -0.9 | 0.2 | 10 | 0.4 |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | -0.9 | 0.2 | 10 | 0.4 |
DP&L [Member] | Commodity Contract - Heating Oil [Member] | ' | ' | ' | ' |
Change in unrealized gain / (loss) | 1.3 | ' | 0.4 | -1.5 |
Derivative, Gain (Loss) on Derivative, Net | ' | 0.5 | 1.2 | 1.9 |
Gain (Loss) on Derivative Instruments, Net, Pretax | 1.3 | 0.5 | 1.6 | 0.4 |
Regulatory (asset)/liability | ' | -0.1 | ' | -0.6 |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | 1.3 | 0.5 | 1.6 | 0.4 |
DP&L [Member] | Forward Contract Power [Member] | ' | ' | ' | ' |
Change in unrealized gain / (loss) | 1.3 | -5.5 | 9.1 | -4.6 |
Derivative, Gain (Loss) on Derivative, Net | -0.7 | 4.2 | 2.3 | 4.2 |
Gain (Loss) on Derivative Instruments, Net, Pretax | 0.6 | -1.3 | 11.4 | -0.4 |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | 0.6 | -1.3 | 11.4 | -0.4 |
Revenue [Member] | ' | ' | ' | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax | ' | -2.4 | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ' | ' | ' | -1.7 |
Revenue [Member] | Forward Contract Power [Member] | ' | ' | ' | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax | ' | -2.4 | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ' | ' | ' | -1.7 |
Revenue [Member] | DP&L [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ' | 0.3 | ' | 2 |
Revenue [Member] | DP&L [Member] | Commodity Contract - FTR [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | 0.1 | ' | 0.2 | ' |
Revenue [Member] | DP&L [Member] | Forward Contract Power [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | 0.1 | 0.3 | 0.2 | 2 |
Fuel [Member] | ' | ' | ' | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax | ' | -2.7 | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ' | ' | ' | -17.4 |
Fuel [Member] | NYMEX Coal Contract [Member] | ' | ' | ' | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax | 0.1 | -3.2 | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ' | ' | -0.1 | -18.2 |
Fuel [Member] | Commodity Contract - Heating Oil [Member] | ' | ' | ' | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax | ' | 0.5 | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ' | ' | ' | 0.8 |
Fuel [Member] | Forward Contract Power [Member] | ' | ' | ' | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax | 0.1 | ' | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ' | ' | -0.1 | ' |
Fuel [Member] | DP&L [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ' | -2.7 | ' | -17.4 |
Fuel [Member] | DP&L [Member] | NYMEX Coal Contract [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | 0.1 | -3.2 | -0.1 | -18.2 |
Fuel [Member] | DP&L [Member] | Commodity Contract - Heating Oil [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ' | 0.5 | ' | 0.8 |
Fuel [Member] | DP&L [Member] | Forward Contract Power [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | 0.1 | ' | -0.1 | ' |
O&M [Member] | ' | ' | ' | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax | ' | 0.1 | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ' | ' | ' | 0.2 |
O&M [Member] | NYMEX Coal Contract [Member] | ' | ' | ' | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax | 0.1 | ' | ' | ' |
O&M [Member] | Commodity Contract - Heating Oil [Member] | ' | ' | ' | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax | ' | 0.1 | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ' | ' | ' | 0.2 |
O&M [Member] | Forward Contract Power [Member] | ' | ' | ' | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax | 0.1 | ' | ' | ' |
O&M [Member] | DP&L [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ' | 0.1 | ' | 0.2 |
O&M [Member] | DP&L [Member] | NYMEX Coal Contract [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | 0.1 | ' | ' | ' |
O&M [Member] | DP&L [Member] | Commodity Contract - Heating Oil [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ' | 0.1 | ' | 0.2 |
O&M [Member] | DP&L [Member] | Forward Contract Power [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | 0.1 | ' | ' | ' |
Purchased Power [Member] | ' | ' | ' | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax | ' | -0.2 | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ' | ' | ' | -2.7 |
Purchased Power [Member] | Commodity Contract - FTR [Member] | ' | ' | ' | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax | -0.7 | 0.2 | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ' | ' | 11 | 0.4 |
Purchased Power [Member] | Commodity Contract - Heating Oil [Member] | ' | ' | ' | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax | 1.3 | ' | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ' | ' | 1.6 | ' |
Purchased Power [Member] | Forward Contract Power [Member] | ' | ' | ' | ' |
Gain (Loss) on Derivative Instruments, Net, Pretax | 0.6 | -0.4 | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ' | ' | 12.6 | -3.1 |
Purchased Power [Member] | DP&L [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | ' | -1.4 | ' | -2 |
Purchased Power [Member] | DP&L [Member] | Commodity Contract - FTR [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | -1 | 0.2 | 9.8 | 0.4 |
Purchased Power [Member] | DP&L [Member] | Commodity Contract - Heating Oil [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | 1.3 | ' | 1.6 | ' |
Purchased Power [Member] | DP&L [Member] | Forward Contract Power [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | 0.3 | -1.6 | 11.4 | -2.4 |
Partners Share of Gain Loss [Member] | ' | ' | ' | ' |
Partner's share of gain (loss) | ' | 4.7 | ' | ' |
Partners Share of Gain Loss [Member] | NYMEX Coal Contract [Member] | ' | ' | ' | ' |
Partner's share of gain (loss) | ' | 4.7 | ' | ' |
Regulatory Asset Liability [Member] | ' | ' | ' | ' |
Regulatory (asset)/liability | ' | 1.1 | ' | ' |
Regulatory Asset Liability [Member] | NYMEX Coal Contract [Member] | ' | ' | ' | ' |
Regulatory (asset)/liability | ' | 1.2 | -0.1 | ' |
Regulatory Asset Liability [Member] | Commodity Contract - Heating Oil [Member] | ' | ' | ' | ' |
Regulatory (asset)/liability | ' | -0.1 | ' | ' |
Regulatory Asset Liability [Member] | Forward Contract Power [Member] | ' | ' | ' | ' |
Regulatory (asset)/liability | ' | ' | -0.1 | ' |
Regulatory Asset Liability [Member] | DP&L [Member] | NYMEX Coal Contract [Member] | ' | ' | ' | ' |
Regulatory (asset)/liability | ' | ' | -0.1 | ' |
Regulatory Asset Liability [Member] | DP&L [Member] | Forward Contract Power [Member] | ' | ' | ' | ' |
Regulatory (asset)/liability | ' | ' | ($0.10) | ' |
Derivative_Instruments_and_Hed7
Derivative Instruments and Hedging Activities (Fair Value and Balance Sheet Location (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Derivative Liability, Fair Value | $10.30 | ' |
DP&L [Member] | ' | ' |
Derivative Liability, Fair Value | 10.1 | ' |
Total Assets [Member] | ' | ' |
Derivative Asset, Fair Value | 21.6 | 7.5 |
Derivative, Fair Value, Net | 16.7 | 4.2 |
Derivative, Collateral, net | ' | -0.2 |
Derivative, Fair Value, Offset, Net | -4.9 | -3.1 |
Total Assets [Member] | DP&L [Member] | ' | ' |
Derivative Asset, Fair Value | 21.7 | 7.6 |
Derivative, Fair Value, Net | 16.8 | 4.3 |
Derivative, Collateral, net | ' | -0.2 |
Derivative, Fair Value, Offset, Net | -4.9 | -3.1 |
Total Liabilities [Member] | ' | ' |
Derivative, Fair Value, Net | 1 | 34.5 |
Derivative, Collateral, net | -4.4 | -5.1 |
Derivative, Fair Value, Offset, Net | -4.9 | -3.1 |
Derivative Liability, Fair Value | 10.3 | 42.7 |
Total Liabilities [Member] | DP&L [Member] | ' | ' |
Derivative, Fair Value, Net | 1 | 5.1 |
Derivative, Collateral, net | -4.2 | -3.5 |
Derivative, Fair Value, Offset, Net | -4.9 | -3.1 |
Derivative Liability, Fair Value | 10.1 | 11.7 |
Commodity Contract - Heating Oil [Member] | Short-term Derivative Positions [Member] | Other Prepayments and Current Assets [Member] | ' | ' |
Derivative Asset, Fair Value | 0.1 | ' |
Derivative, Fair Value, Net | 0.1 | ' |
Not Designated as Hedging Instrument [Member] | Forward Contract Power [Member] | Short-term Derivative Positions [Member] | Other Prepayments and Current Assets [Member] | ' | ' |
Derivative Asset, Fair Value | 5.1 | 2.7 |
Derivative, Fair Value, Net | 2.5 | 1.2 |
Derivative, Fair Value, Offset, Net | -2.6 | -1.5 |
Not Designated as Hedging Instrument [Member] | Forward Contract Power [Member] | Short-term Derivative Positions [Member] | Other Prepayments and Current Assets [Member] | DP&L [Member] | ' | ' |
Derivative Asset, Fair Value | 5.2 | 2.8 |
Derivative, Fair Value, Net | 2.6 | 1.3 |
Derivative, Fair Value, Offset, Net | -2.6 | -1.5 |
Not Designated as Hedging Instrument [Member] | Forward Contract Power [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | ' | ' |
Derivative, Fair Value, Net | 0.3 | 0.6 |
Derivative, Collateral, net | -2.1 | -2 |
Derivative, Fair Value, Offset, Net | -2.6 | -1.5 |
Derivative Liability, Fair Value | 5 | 4.1 |
Not Designated as Hedging Instrument [Member] | Forward Contract Power [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | DP&L [Member] | ' | ' |
Derivative, Fair Value, Net | 0.3 | 0.7 |
Derivative, Collateral, net | -1.8 | -0.5 |
Derivative, Fair Value, Offset, Net | -2.6 | -1.5 |
Derivative Liability, Fair Value | 4.7 | 2.7 |
Not Designated as Hedging Instrument [Member] | Forward Contract Power [Member] | Long-term Derivative Positions [Member] | Other Deferred Credit [Member] | ' | ' |
Derivative, Fair Value, Net | 0.4 | 0.1 |
Derivative, Collateral, net | ' | -0.1 |
Derivative, Fair Value, Offset, Net | -0.7 | -0.6 |
Derivative Liability, Fair Value | 1.1 | 0.8 |
Not Designated as Hedging Instrument [Member] | Forward Contract Power [Member] | Long-term Derivative Positions [Member] | Other Deferred Credit [Member] | DP&L [Member] | ' | ' |
Derivative, Fair Value, Net | 0.3 | 0.1 |
Derivative, Collateral, net | -0.1 | ' |
Derivative, Fair Value, Offset, Net | -0.7 | -0.6 |
Derivative Liability, Fair Value | 1.1 | 0.7 |
Not Designated as Hedging Instrument [Member] | Forward Contract Power [Member] | Long-term Derivative Positions [Member] | Other Deferred Asset [Member] | ' | ' |
Derivative Asset, Fair Value | 12.7 | 3.6 |
Derivative, Fair Value, Net | 12 | 3 |
Derivative, Fair Value, Offset, Net | -0.7 | -0.6 |
Not Designated as Hedging Instrument [Member] | Forward Contract Power [Member] | Long-term Derivative Positions [Member] | Other Deferred Asset [Member] | DP&L [Member] | ' | ' |
Derivative Asset, Fair Value | 12.7 | 3.6 |
Derivative, Fair Value, Net | 12 | 3 |
Derivative, Fair Value, Offset, Net | -0.7 | -0.6 |
Not Designated as Hedging Instrument [Member] | Commodity Contract - FTR [Member] | Short-term Derivative Positions [Member] | Other Prepayments and Current Assets [Member] | DP&L [Member] | ' | ' |
Derivative Asset, Fair Value | 0.4 | ' |
Derivative, Fair Value, Net | 0.4 | ' |
Not Designated as Hedging Instrument [Member] | Commodity Contract - FTR [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | ' | ' |
Derivative, Fair Value, Net | ' | 0.1 |
Derivative Liability, Fair Value | ' | 0.1 |
Not Designated as Hedging Instrument [Member] | Commodity Contract - FTR [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | DP&L [Member] | ' | ' |
Derivative, Fair Value, Net | ' | 0.1 |
Derivative Liability, Fair Value | ' | 0.1 |
Not Designated as Hedging Instrument [Member] | Commodity Contract - Heating Oil [Member] | Short-term Derivative Positions [Member] | Other Prepayments and Current Assets [Member] | ' | ' |
Derivative Asset, Fair Value | 0.4 | 0.2 |
Derivative, Fair Value, Net | 0.4 | ' |
Derivative, Collateral, net | ' | -0.2 |
Not Designated as Hedging Instrument [Member] | Commodity Contract - Heating Oil [Member] | Short-term Derivative Positions [Member] | Other Prepayments and Current Assets [Member] | DP&L [Member] | ' | ' |
Derivative Asset, Fair Value | 0.1 | 0.2 |
Derivative, Fair Value, Net | 0.1 | ' |
Derivative, Collateral, net | ' | -0.2 |
Cash Flow Hedging [Member] | Forward Contract Power [Member] | Short-term Derivative Positions [Member] | Other Prepayments and Current Assets [Member] | ' | ' |
Derivative Asset, Fair Value | 1.4 | 0.5 |
Derivative, Fair Value, Net | 0.3 | ' |
Derivative, Fair Value, Offset, Net | -1.1 | -0.5 |
Cash Flow Hedging [Member] | Forward Contract Power [Member] | Short-term Derivative Positions [Member] | Other Prepayments and Current Assets [Member] | DP&L [Member] | ' | ' |
Derivative Asset, Fair Value | 1.4 | 0.5 |
Derivative, Fair Value, Net | 0.3 | ' |
Derivative, Fair Value, Offset, Net | -1.1 | -0.5 |
Cash Flow Hedging [Member] | Forward Contract Power [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | ' | ' |
Derivative, Fair Value, Net | 0.3 | 4.1 |
Derivative, Collateral, net | -2.3 | -2.1 |
Derivative, Fair Value, Offset, Net | -1.1 | -0.5 |
Derivative Liability, Fair Value | 3.7 | 6.7 |
Cash Flow Hedging [Member] | Forward Contract Power [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | DP&L [Member] | ' | ' |
Derivative, Fair Value, Net | 0.4 | 4.1 |
Derivative, Collateral, net | -2.3 | -2.1 |
Derivative, Fair Value, Offset, Net | -1.1 | -0.5 |
Derivative Liability, Fair Value | 3.8 | 6.7 |
Cash Flow Hedging [Member] | Forward Contract Power [Member] | Long-term Derivative Positions [Member] | Other Deferred Credit [Member] | ' | ' |
Derivative, Fair Value, Net | ' | 0.1 |
Derivative, Collateral, net | ' | -0.9 |
Derivative, Fair Value, Offset, Net | -0.5 | -0.5 |
Derivative Liability, Fair Value | 0.5 | 1.5 |
Cash Flow Hedging [Member] | Forward Contract Power [Member] | Long-term Derivative Positions [Member] | Other Deferred Credit [Member] | DP&L [Member] | ' | ' |
Derivative, Fair Value, Net | ' | 0.1 |
Derivative, Collateral, net | ' | -0.9 |
Derivative, Fair Value, Offset, Net | -0.5 | -0.5 |
Derivative Liability, Fair Value | 0.5 | 1.5 |
Cash Flow Hedging [Member] | Forward Contract Power [Member] | Long-term Derivative Positions [Member] | Other Deferred Asset [Member] | ' | ' |
Derivative Asset, Fair Value | 1.9 | 0.5 |
Derivative, Fair Value, Net | 1.4 | ' |
Derivative, Fair Value, Offset, Net | -0.5 | -0.5 |
Cash Flow Hedging [Member] | Forward Contract Power [Member] | Long-term Derivative Positions [Member] | Other Deferred Asset [Member] | DP&L [Member] | ' | ' |
Derivative Asset, Fair Value | 1.9 | 0.5 |
Derivative, Fair Value, Net | 1.4 | ' |
Derivative, Fair Value, Offset, Net | -0.5 | -0.5 |
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | ' | ' |
Derivative, Fair Value, Net | ' | 29.5 |
Derivative Liability, Fair Value | ' | $29.50 |
Common_Shareholders_Equity_Det
Common Shareholders' Equity (Details) (DP&L [Member], USD $) | 9 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Nov. 05, 2013 | Aug. 05, 2013 |
DP&L [Member] | ' | ' | ' |
Common stock, shares authorized | 250,000,000 | ' | ' |
Common stock, shares outstanding | 41,172,173 | ' | ' |
Par Value common shares | $0.01 | ' | ' |
PUCO Meger Equity Ratio Approval | 50.00% | ' | ' |
Dividends Payable | ' | $75 | $75 |
Cash Dividends Paid to Parent Company | $25 | ' | ' |
Commitments_Environmental_Lega
Commitments, Environmental, Legal (Narrative) (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Mar. 01, 2011 | |
T | ||
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Third party guarantees | $18,000,000 | ' |
Due to third parties, current | 700,000 | ' |
Debt instrument interest percentage | ' | 4.20% |
Environmental reserves | 2,200,000 | ' |
Percentage of energy generated by coal | 97.00% | ' |
Annual CO2 emissions generation at stations, in tons | 14,000,000 | ' |
Supplemental Eviromental Project | 200,000 | ' |
Number of Auxiliary Boilers | 7 | ' |
Relief and civil penalties, per day | 27,500 | ' |
DP&L [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Equity ownership interest | 4.90% | ' |
Long Term Debt Date Range Equity Ownership, Start | '2018 | ' |
Long Term Debt Date Range Equity Ownership, End | '2040 | ' |
Environmental reserves | 2,200,000 | ' |
Percentage of energy generated by coal | 97.00% | ' |
Supplemental Eviromental Project | 200,000 | ' |
Number of tons of CO2 emitted per year including electric generating units | 14,000,000 | ' |
Number of Auxiliary Boilers | 7 | ' |
Relief and civil penalties, per day | 27,500 | ' |
Coal supply failure by suppliers | 570,000 | ' |
Electric Generation Company [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Debt obligation | 1,569,800,000 | ' |
DPLE and DPLER [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Third party guarantees | 17,800,000 | ' |
MC Squared [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Third party guarantees | 200,000 | ' |
Beckjord Unit 6 [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Percentage of coal-fire power plant holdings | 50.00% | ' |
Hutchings Plant [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Percentage of coal-fire power plant holdings | 100.00% | ' |
Coal Supply Agreements [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Coal supply failure by suppliers | 1,500,000 | ' |
Coal Supply Agreements [Member] | DP&L [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Coal supply failure by suppliers | 1,500,000 | ' |
Coal supply agreement, in tons | 570,000 | ' |
Debt Obligation on 4.9% Equity Ownership [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Equity ownership interest | 4.90% | ' |
Equity ownership interest aggregate cost | 76,900,000 | ' |
Long Term Debt Date Range Equity Ownership, Start | '2018 | ' |
Long Term Debt Date Range Equity Ownership, End | '2040 | ' |
Debt Obligation on 4.9% Equity Ownership [Member] | DP&L [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Equity ownership interest aggregate cost | $76,900,000 | ' |
First Mortgage Bonds Maturing in October 2013 - 5.125% [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Debt instrument interest percentage | 5.13% | ' |
First Mortgage Bonds Maturing in October 2013 - 5.125% [Member] | DP&L [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Debt instrument interest percentage | 5.13% | ' |
Pollution Control Series Maturing in January 2028 - 4.70% [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Debt instrument interest percentage | 4.70% | ' |
Pollution Control Series Maturing in January 2028 - 4.70% [Member] | DP&L [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Debt instrument interest percentage | 4.70% | ' |
Pollution Control Series Maturing in January 2034 - 4.80% [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Debt instrument interest percentage | 4.80% | ' |
Pollution Control Series Maturing in January 2034 - 4.80% [Member] | DP&L [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Debt instrument interest percentage | 4.80% | ' |
Pollution Control Series Maturing in September 2036 - 4.80% [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Debt instrument interest percentage | 4.80% | ' |
Pollution Control Series Maturing in September 2036 - 4.80% [Member] | DP&L [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Debt instrument interest percentage | 4.80% | ' |
U.S. Government note maturing in February 2061 - 4.20% [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Debt instrument interest percentage | 4.20% | ' |
U.S. Government note maturing in February 2061 - 4.20% [Member] | DP&L [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Debt instrument interest percentage | 4.20% | 4.20% |
Note to DPL Capital Trust II Maturing in September 2031 - 8.125% [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Debt instrument interest percentage | 8.13% | ' |
Five Year Senior Unsecured Notes at 6.50% maturing on October 15, 2016 [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Debt instrument interest percentage | 6.50% | ' |
Ten Year Senior Unsecured Notes at 7.25% maturing at October 15, 2021 [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Debt instrument interest percentage | 7.25% | ' |
NOx [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Emission Reductions | 54.00% | ' |
NOx [Member] | DP&L [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Emission Reductions | 54.00% | ' |
SO2 [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Emission Reductions | 73.00% | ' |
SO2 [Member] | DP&L [Member] | ' | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' | ' |
Emission Reductions | 73.00% | ' |
Business_Segments_Narrative_De
Business Segments (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2013 | |
sqmi | |
Service area, square miles | 6,000 |
Number of coal fired power plants | 8 |
Approximate number of retail customers | 513,000 |
Approximate Number Of Competitive Retail Customers | 281,000 |
Number of MC Squared Retail Customers | 131,000 |
DP&L [Member] | ' |
Approximate number of retail customers | 513,000 |
Business_Segments_Segment_Fina
Business Segments (Segment Financial Information) (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Total revenues | $441.20 | $471.70 | $1,210.70 | $1,287.70 | ' |
Fuel Costs | 99.7 | 112.7 | 274 | 279 | ' |
Purchased power | 113.1 | 90.7 | 282.6 | 265.8 | ' |
Amortization of intangibles | ' | ' | 5.3 | 71.2 | ' |
Gross margin | 226.6 | 244.1 | 648.8 | 671.7 | ' |
Depreciation and amortization | 33.9 | 33.1 | 99 | 95.6 | ' |
Goodwill, Impairment Loss | ' | 1,850 | ' | 1,850 | ' |
Interest expense | 31 | 31.1 | 91.1 | 93.1 | ' |
Income tax expense (benefit) | 11.3 | 20.2 | 20.8 | 40.3 | ' |
Net income (loss) | 33.2 | -1,810.90 | 76 | -1,777.30 | ' |
Total Assets | 4,506.10 | ' | 4,506.10 | ' | 4,247.30 |
Utility [Member] | ' | ' | ' | ' | ' |
Revenues from external customers | 289.3 | 313.4 | 805.5 | 887.9 | ' |
Intersegment revenues | 123.8 | 113.4 | 336 | 285.1 | ' |
Total revenues | 413.1 | 426.8 | 1,141.50 | 1,173 | ' |
Fuel Costs | 96.7 | 108.1 | 269.6 | 272.3 | ' |
Purchased power | 110.4 | 79.9 | 276.7 | 234.1 | ' |
Gross margin | 206 | 238.8 | 595.2 | 666.6 | ' |
Depreciation and amortization | 35.8 | 36.5 | 104.5 | 107.3 | ' |
Fixed asset impairment | ' | 80.8 | ' | 80.8 | ' |
Interest expense | 10.4 | 10 | 29.7 | 29 | ' |
Income tax expense (benefit) | 13.2 | 6.5 | 29.2 | 39.4 | ' |
Net income (loss) | 40.9 | -11.2 | 101.4 | 58.3 | ' |
Total Assets | 3,837.50 | 3,464.20 | 3,837.50 | 3,464.20 | ' |
Capital expenditures | 28.3 | 52.2 | 95.1 | 161.7 | ' |
Competitive Retail [Member] | ' | ' | ' | ' | ' |
Revenues from external customers | 139.7 | 145.5 | 381.9 | 367.5 | ' |
Total revenues | 139.7 | 145.5 | 381.9 | 367.5 | ' |
Purchased power | 125.6 | 123.4 | 340.8 | 315.6 | ' |
Gross margin | 14.1 | 22.1 | 41.1 | 51.9 | ' |
Depreciation and amortization | 0.1 | 0.2 | 0.4 | 0.3 | ' |
Interest expense | 0.1 | 0.2 | 0.4 | 0.4 | ' |
Income tax expense (benefit) | 1.4 | 5.9 | 4.3 | 15.8 | ' |
Net income (loss) | 2.5 | 10 | 7.7 | 17.5 | ' |
Total Assets | 102.8 | 99.2 | 102.8 | 99.2 | ' |
Capital expenditures | ' | ' | ' | 0.5 | ' |
Other Reportable Business Segment [Member] | ' | ' | ' | ' | ' |
Revenues from external customers | 12.2 | 12.8 | 23.3 | 32.3 | ' |
Intersegment revenues | 1 | 0.9 | 3 | 2.6 | ' |
Total revenues | 13.2 | 13.7 | 26.3 | 34.9 | ' |
Fuel Costs | 2.9 | 4.6 | 4.2 | 6.7 | ' |
Purchased power | 0.9 | 0.9 | 1.5 | 1.3 | ' |
Amortization of intangibles | 1.8 | 24.2 | 5.3 | 71.2 | ' |
Gross margin | 7.6 | -16 | 15.3 | -44.3 | ' |
Depreciation and amortization | -2 | -3.6 | -5.9 | -12 | ' |
Goodwill, Impairment Loss | ' | 1,850 | ' | 1,850 | ' |
Interest expense | 20.6 | 21 | 61.5 | 64.1 | ' |
Income tax expense (benefit) | -3.3 | 7.8 | -12.7 | -14.9 | ' |
Net income (loss) | -10.2 | -1,809.70 | -33.1 | -1,853.10 | ' |
Total Assets | 565.8 | 683.9 | 565.8 | 683.9 | ' |
Capital expenditures | 1 | 0.4 | 1.4 | 0.9 | ' |
Adjustments and Eliminations [Member] | ' | ' | ' | ' | ' |
Intersegment revenues | -124.8 | -114.3 | -339 | -287.7 | ' |
Total revenues | -124.8 | -114.3 | -339 | -287.7 | ' |
Fuel Costs | 0.1 | ' | 0.2 | ' | ' |
Purchased power | -123.8 | -113.5 | -336.4 | -285.2 | ' |
Gross margin | -1.1 | -0.8 | -2.8 | -2.5 | ' |
Fixed asset impairment | ' | -80.8 | ' | -80.8 | ' |
Interest expense | -0.1 | -0.1 | -0.5 | -0.4 | ' |
Parent Company [Member] | ' | ' | ' | ' | ' |
Revenues from external customers | 441.2 | 471.7 | 1,210.70 | 1,287.70 | ' |
Total revenues | 441.2 | 471.7 | 1,210.70 | 1,287.70 | ' |
Fuel Costs | 99.7 | 112.7 | 274 | 279 | ' |
Purchased power | 113.1 | 90.7 | 282.6 | 265.8 | ' |
Amortization of intangibles | 1.8 | 24.2 | 5.3 | 71.2 | ' |
Gross margin | 226.6 | 244.1 | 648.8 | 671.7 | ' |
Depreciation and amortization | 33.9 | 33.1 | 99 | 95.6 | ' |
Goodwill, Impairment Loss | ' | 1,850 | ' | 1,850 | ' |
Interest expense | 31 | 31.1 | 91.1 | 93.1 | ' |
Income tax expense (benefit) | 11.3 | 20.2 | 20.8 | 40.3 | ' |
Net income (loss) | 33.2 | -1,810.90 | 76 | -1,777.30 | ' |
Total Assets | 4,506.10 | 4,247.30 | 4,506.10 | 4,247.30 | ' |
Capital expenditures | $29.30 | $52.60 | $96.50 | $163.10 | ' |