Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2013

Notes to Financial Statements [Abstract]

Fair Value of Financial Instruments

FAIR VALUE OF FINANCIAL INSTRUMENTS:

The financial instruments measured at fair value on a recurring basis are summarized below:

	Fair Value Measurements at September 30, 2013						Fair Value Measurements at December 31, 2012
Description	Quoted Prices in Active Markets for Identical Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Quoted Prices in Active Markets for Identical Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Gas Cash Flow Hedges	$	—	$	102,114	$	—	$	—	$	128,945	$	—

The following methods and assumptions were used to estimate the fair value for which the fair value option was not elected:

Cash and cash equivalents: The carrying amount reported in the balance sheets for cash and cash equivalents approximates its fair value due to the short-term maturity of these instruments.

Restricted cash: The carrying amount reported in the balance sheets for restricted cash approximates its fair value due to the short-term maturity of these instruments.

Short-term notes payable: The carrying amount reported in the balance sheets for short-term notes payable approximates its fair value due to the short-term maturity of these instruments.

Borrowings under Securitization Facility: The carrying amount reported in the balance sheets for borrowings under the securitization facility approximates its fair value due to the short-term maturity of these instruments.

Long-term debt: The fair value of long-term debt is measured using unadjusted quoted market prices or estimated using discounted cash flow analyses. The discounted cash flow analyses are based on current market rates for instruments with similar cash flows.

The carrying amounts and fair values of financial instruments for which the fair value option was not elected are as follows:

	September 30, 2013						December 31, 2012
	Carrying Amount			Fair Value			Carrying Amount			Fair Value
Cash and Cash Equivalents	$	21,086		$	21,086		$	21,878		$	21,878
Restricted Cash (a)	$	12,263		$	12,263		$	68,673		$	68,673
Short-Term Notes Payable	$	(47,000	)	$	(47,000	)	$	(25,073	)	$	(25,073	)
Borrowings Under Securitization Facility	$	(44,364	)	$	(44,364	)	$	(37,846	)	$	(37,846	)
Long-Term Debt	$	(3,128,361	)	$	(3,320,618	)	$	(3,129,017	)	$	(3,378,058	)

(a) The 2013 restricted cash balance of $12,263 was included in current assets of the Consolidated Balance Sheet. The 2012 restricted cash balance includes $48,294 and $20,379 included in current assets and other assets of the Consolidated Balance Sheet, respectively.