DERIVATIVE INSTRUMENTS

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS

None of our derivatives are designated as hedging instruments. Derivative assets and liabilities not shown separately on our balance sheets are included in the other current and other long-term line items. The following table shows our derivative assets and derivative liabilities.

	December 31, 2021				December 31, 2020
(in millions)	Derivative Assets		Derivative Liabilities		Derivative Assets		Derivative Liabilities
Current
Natural gas contracts	$	9.2	$	1.5	$	1.7	$	1.7
FTRs	1.4		—		1.2		—
Coal contracts	11.6		—		0.2		0.3
Total current	22.2		1.5		3.1		2.0
Long-term
Natural gas contracts	0.3		0.1		—		0.2
Coal contracts	3.7		—		0.2		0.2
Total long-term	4.0		0.1		0.2		0.4
Total	$	26.2	$	1.6	$	3.3	$	2.4

Realized gains (losses) on derivatives are primarily recorded in cost of sales on the income statements. Our estimated notional sales volumes and realized gains (losses) were as follows for the years ended:

	December 31, 2021			December 31, 2020			December 31, 2019
(in millions)	Volumes	Gains		Volumes	Gains (Losses)		Volumes	Gains (Losses)
Natural gas contracts	37.5 Dth	$	21.8	38.1 Dth	$	(8.7)	35.4 Dth	$	(5.3)
FTRs	7.0 MWh	8.7		8.3 MWh	1.4		9.1 MWh	7.2
Total		$	30.5		$	(7.3)		$	1.9

At December 31, 2021 and 2020, we had posted cash collateral of $6.3 million and $3.7 million, respectively.

The following table shows derivative assets and derivative liabilities if derivative instruments by counterparty were presented net on our balance sheets:

	December 31, 2021				December 31, 2020
(in millions)	Derivative Assets		Derivative Liabilities		Derivative Assets		Derivative Liabilities
Gross amount recognized on the balance sheet	$	26.2	$	1.6	$	3.3	$	2.4
Gross amount not offset on the balance sheet	(1.4)		(1.4)		(1.6)		(1.6)
Net amount	$	24.8	$	0.2	$	1.7	$	0.8