2.2.0.7 true Subsequent Events (TECO ENERGY INC) 11701 - Disclosure - Subsequent Events true false false false 1 USD true false false false TECO ENERGY INC dei_LegalEntityAxis xbrldi http://xbrl.org/2006/xbrldi us-gaap_ParentCompanyMember dei_LegalEntityAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit13 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Unit1 Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 2 Subsequent Events 2 us-gaap_ScheduleOfSubsequentEventsTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false false 1 false false false false 0 0 <div> 17. Subsequent Events CAFTA Arbitration Claim On Jan. 13, 2009, a TECO Energy subsidiary, TECO Guatemala Holdings, LLC, (TGH), delivered a Notice of Intent to the Guatemalan government that it intended to file an arbitration claim against the Republic of Guatemala under the Dominican Republic Central America – United States Free Trade Agreement (DR – CAFTA) alleging a violation of fair and equitable treatment of its investment in EEGSA. On Oct. 20, 2010, TGH filed a Notice of Arbitration with the International Centre for Settlement of Investment Disputes to proceed with its arbitration claim. The arbitration was prompted by actions of the Guatemalan government in July 2008 which, among other things, unilaterally reset the distribution tariff for EEGSA at levels well below the then existing tariffs. These actions caused a significant reduction in earnings from EEGSA. Until Oct. 21, 2010, TGH held a 24% ownership interest in EEGSA through a holding company (DECA II) with Iberdrola Energia, S.A. and Electricidade de Portugal, S.A. On such date, TGH's interest was sold (see below). In connection with the sale of TGH's ownership interest in EEGSA, TGH reserved the right to pursue the arbitration claim described above. Sale of DECA II On Oct. 21, 2010, a TECO Energy subsidiary, TPSU, sold its 30% interest in DECA II to EPM, a multi-utility company based in Medellín Colombia, under an SPA, for a sale price of $181.5 million. TPSU is a subsidiary of TECO Guatemala Holdings, LLC (TGH). DECA II is a holding company in which, prior to the sale, TGH held a 30% interest, Iberdrola Energia, S.A. held a 49% interest and EDP – Energias de Portugal, S.A. held a 21% interest. Each of these parties sold its interest in DECA II pursuant to the SPA. DECA II holds an 80.9% ownership interest in EEGSA and affiliated companies. EEGSA is the largest Guatemalan distribution utility, which serves Guatemala City, the capital of Guatemala and the surrounding region. TGH received $181.5 million of the $605.0 million total purchase price for its 30% interest. In addition, TGH will repatriate approximately $25.0 million of cash previously held offshore in a tax deferral structure. The sale will result in a fourth quarter pretax book gain of approximately $38.0 million at TECO Guatemala. During the third quarter, TECO Guatemala recorded a $24.9 million income tax charge related to the unwinding of the tax deferral structure as the earnings from DECA II are no longer considered indefinitely reinvested. During the fourth quarter, the company anticipates recording approximately $15.0 million of Guatemalan and U.S. tax expenses as a result of the transaction. Redemption of 7.0% notes due May 1, 2012 On Nov. 3, 2010, TECO Energy and TECO Finance submitted optional redemption notices to holders of $73.2 million and $163.1 million, respectively, of 7.0% notes due May 1, 2012. The optional redemption price of the 7.0% notes is equal to the greater of (i) 100% of the principal amount of 7.0% notes redeemed or (ii) the present value of the remaining payments of principal and interest on the 7.0% notes redeemed, discounted at an applicable treasury rate (as defined in the 7.0% notes indenture) plus 25 basis points; in either case, the optional redemption price will include accrued and unpaid interest to the redemption date. Settlement of the optional redemption is expected to be Dec. 2, 2010.   </div> false false false us-types:textBlockItemType textblock Describes disclosed significant events or transactions that occurred after the balance sheet date, but before the issuance of the financial statements. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, losses resulting from fire or flood, losses on receivables, significant realized and unrealized gains and losses that result from changes in quoted market prices of securities, declines in market prices of inventory, changes in authorized or issued debt (SEC), significant foreign exchange rate changes, substantial loans to insiders or affiliates, significant long-term investments, and substantial dividends not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 5 -Paragraph 11 false 1 1 false UnKnown UnKnown UnKnown false true