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FAIR VALUE OF FINANCIAL INSTRUMENTS
6 Months Ended
Jun. 30, 2013
Fair Value Disclosures [Abstract]  
Fair Value Disclosures [Text Block]

NOTE 6       FAIR VALUE OF FINANCIAL INSTRUMENTS

 

The June 30, 2013 carrying amount of cash and cash equivalents, current assets, accounts receivable, accounts payable and current liabilities approximate fair value due to the short-term nature of these instruments. As reported in Note 4, Investments in Subsidiaries & Other Property, of the Notes to Financial Statements in the 2012 Form 10-K, investments held in the Rabbi Trust continue to be considered Level 1 in the fair value hierarchy.

 

The total fair value of NVE's consolidated long-term debt at June 30, 2013, is estimated to be $5.7 billion based on quoted market prices for the same or similar issues or on the current rates offered to NVE for debt of the same remaining maturities. The total fair value was estimated to be $5.9 billion as of December 31, 2012.

 

The total fair value of NPC's consolidated long-term debt at June 30, 2013, is estimated to be $3.9 billion based on quoted market prices for the same or similar issues or on the current rates offered to NPC for debt of the same remaining maturities. The total fair value was estimated to be $4.1 billion at December 31, 2012.

 

The total fair value of SPPC's consolidated long-term debt at June 30, 2013, is estimated to be $1.3 billion based on quoted market prices for the same or similar issues or on the current rates offered to SPPC for debt of the same remaining maturities. The total fair value was estimated to be $1.3 billion as of December 31, 2012.