2.2.0.7 true Summary of Significant Accounting Policies 10101 - Disclosure - Summary of Significant Accounting Policies 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 $ 1 TECO ENERGY INC 0 na true na na No definition available. false true false false false false false false false false false http://www.tecoenergy.com/taxonomy/role/notestofinancialstatementssignificantaccountingpoliciestextblock false 1 false false false false 0 0 false 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 $ na No definition available. No authoritative reference available. false 2 Summary of Significant Accounting Policies 2 us-gaap_SignificantAccountingPoliciesTextBlock 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> 1. Summary of Significant Accounting Policies The significant accounting policies for both utility and diversified operations include: Principles of Consolidation and Basis of Presentation The consolidated condensed financial statements include the accounts of TECO Energy, Inc., its majority-owned and controlled subsidiaries, and the accounts of variable interest entities (VIEs) for which it is the primary beneficiary (TECO Energy or the company). TECO Energy is considered to be the primary beneficiary of VIEs if it has both 1) the power to direct the activities of a VIE that most significantly impact the entity's economic performance and 2) the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. Effective Jan. 1, 2010, amended accounting standards on consolidation resulted in the reconsolidation of two projects in Guatemala. Prior periods presented in this quarterly report were not restated. (See Note 16.) All significant intercompany balances and intercompany transactions have been eliminated in consolidation. Generally, the equity method of accounting is used to account for investments in partnerships or other arrangements in which TECO Energy is not the primary beneficiary but is able to exert significant influence. In the opinion of management, the unaudited consolidated condensed financial statements include all adjustments that are of a recurring nature and necessary to state fairly the financial position of TECO Energy, Inc. and subsidiaries as of Sep. 30, 2010 and Dec. 31, 2009, and the results of operations and cash flows for the periods ended Sep. 30, 2010 and 2009. The results of operations for the three and nine month periods ended Sep. 30, 2010 are not necessarily indicative of the results that can be expected for the entire fiscal year ending Dec. 31, 2010. The use of estimates is inherent in the preparation of financial statements in accordance with generally accepted accounting principles (GAAP). Actual results could differ from these estimates. The year-end condensed balance sheet data was derived from audited financial statements, however this quarterly report on Form 10-Q does not include all year-end disclosures required for an annual report on Form 10-K by GAAP in the United States of America. Revenues As of Sep. 30, 2010 and Dec. 31, 2009, unbilled revenues of $60.3 million and $51.6 million, respectively, are included in the "Receivables" line item on the Consolidated Condensed Balance Sheets. Accounting for Franchise Fees and Gross Receipts The regulated utilities (Tampa Electric and Peoples Gas System (PGS)) are allowed to recover from customers certain costs incurred through rates approved by the Florida Public Service Commission (FPSC). The amounts included in customers' bills for franchise fees and gross receipt taxes are included as revenues on the Consolidated Condensed Statements of Income. These amounts totaled $31.0 million and $90.0 million, respectively, for the three and nine months ended Sep. 30, 2010, compared to $30.5 million and $88.8 million, respectively, for the three and nine months ended Sep. 30, 2009. Franchise fees and gross receipt taxes payable by the regulated utilities are included as an expense on the Consolidated Condensed Statements of Income in "Taxes, other than income". These totaled $31.1 million and $89.9 million, respectively, for the three and nine months ended Sep. 30, 2010, compared to $30.5 million and $88.7 million, respectively, for the three and nine months ended Sep. 30, 2009. Purchased Power Tampa Electric purchases power on a regular basis to meet the needs of its customers. Tampa Electric purchased power from entities not affiliated with TECO Energy at a cost of $45.2 million and $151.5 million, respectively, for the three and nine months ended Sep. 30, 2010, compared to $46.3 million and $144.6 million, respectively, for the three and nine months ended Sep. 30, 2009. Prudently incurred purchased power costs at Tampa Electric have historically been recoverable through FPSC-approved cost recovery clauses. Cash Flows Related to Derivatives and Hedging Activities The company classifies cash inflows and outflows related to derivative and hedging instruments in the appropriate cash flow sections associated with the item being hedged. In the case of heating oil swaps which are used to mitigate the fluctuations in the price of diesel fuel, primarily at TECO Coal, the cash inflows and outflows are included in the operating section. For natural gas, primarily at Tampa Electric and PGS, and ongoing interest rate swaps, the cash inflows and outflows are included in the operating section. For interest rate swaps that settle coincident with the debt issuance, the cash inflows and outflows are treated as premiums or discounts and included in the financing section of the Consolidated Condensed Statements of Cash Flows. </div> false false false us-types:textBlockItemType textblock This element may be used to describe all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 22 -Paragraph 8 false 3 TAMPA ELECTRIC CO 0 na true na na No definition available. false true false false false false false false false false false http://www.tecoenergy.com/taxonomy/role/notestofinancialstatementssignificantaccountingpoliciestextblock false 1 false false false false 0 0 false false false false 2 USD true false false false TAMPA ELECTRIC CO dei_LegalEntityAxis xbrldi http://xbrl.org/2006/xbrldi te_TampaElectricCoMember dei_LegalEntityAxis explicitMember Unit12 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 $ na No definition available. No authoritative reference available. false 4 Summary of Significant Accounting Policies 2 us-gaap_SignificantAccountingPoliciesTextBlock 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> 1. Summary of Significant Accounting Policies The significant accounting policies for Tampa Electric Company include: Principles of Consolidation and Basis of Presentation Tampa Electric Company is a wholly-owned subsidiary of TECO Energy, Inc., and is comprised of the Electric division, generally referred to as Tampa Electric, the Natural Gas division, generally referred to as Peoples Gas System (PGS) and the accounts of variable interest entities (VIEs) for which it is the primary beneficiary. Tampa Electric Company is considered to be the primary beneficiary of VIEs if it has both 1) the power to direct the activities of a VIE that most significantly impact the entity's economic performance and 2) the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. (See Note 12.) All significant intercompany balances and intercompany transactions have been eliminated in consolidation. In the opinion of management, the unaudited consolidated condensed financial statements include all adjustments that are of a recurring nature and necessary to state fairly the financial position of Tampa Electric Company and subsidiaries as of Sep. 30, 2010 and Dec. 31, 2009, and the results of operations and cash flows for the periods ended Sep. 30, 2010 and 2009. The results of operations for the three and nine month periods ended Sep. 30, 2010 are not necessarily indicative of the results that can be expected for the entire fiscal year ending Dec. 31, 2010. The use of estimates is inherent in the preparation of financial statements in accordance with generally accepted accounting principles (GAAP). Actual results could differ from these estimates. The year-end consolidated condensed balance sheet data was derived from audited financial statements, however this quarterly report on Form 10-Q does not include all year-end disclosures required for an annual report on Form 10-K by GAAP in the United States of America. Revenues As of Sep. 30, 2010 and Dec. 31, 2009, unbilled revenues of $60.3 million and $51.6 million, respectively, are included in the "Receivables" line item on the Consolidated Condensed Balance Sheets. Accounting for Franchise Fees and Gross Receipts The regulated utilities (Tampa Electric and PGS) are allowed to recover from customers certain costs incurred through rates approved by the Florida Public Service Commission (FPSC). The amounts included in customers' bills for franchise fees and gross receipt taxes are included as revenues on the Consolidated Condensed Statements of Income. These amounts totaled $31.0 million and $90.0 million, respectively, for the three and nine months ended Sep. 30, 2010, compared to $30.5 million and $88.8 million, respectively, for the three and nine months ended Sep. 30, 2009. Franchise fees and gross receipt taxes payable by the regulated utilities are included as an expense on the Consolidated Condensed Statements of Income in "Taxes, other than income". These totaled $31.1 million and $89.9 million, respectively, for the three and nine months ended Sep. 30, 2010, compared to $30.5 million and $88.7 million, respectively, for the three and nine months ended Sep. 30, 2009. Purchased Power Tampa Electric purchases power on a regular basis to meet the needs of its customers. Tampa Electric purchased power from entities not affiliated with TECO Energy at a cost of $45.2 million and $151.5 million, respectively, for the three and nine months ended Sep. 30, 2010, compared to $46.3 million and $144.6 million, respectively, for the three and nine months ended Sep. 30, 2009. Prudently incurred purchased power costs at Tampa Electric have historically been recoverable through FPSC-approved cost recovery clauses. Cash Flows Related to Derivatives and Hedging Activities Tampa Electric Company classifies cash inflows and outflows related to derivative and hedging instruments in the appropriate cash flow sections associated with the item being hedged. For natural gas and ongoing interest rate swaps, the cash inflows and outflows are included in the operating section. For interest rate swaps that settle coincident with the debt issuance, the cash inflows and outflows are treated as premiums or discounts and included in the financing section of the Consolidated Condensed Statements of Cash Flows. </div> false false false us-types:textBlockItemType textblock This element may be used to describe all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 22 -Paragraph 8 false 1 4 false UnKnown UnKnown UnKnown false true