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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2012
Fair Value Measurements (Tables) [Abstract]  
Financial assets and liabilities by level within the fair value hierarchy
The following tables summarize our financial assets and liabilities by level within the fair value hierarchy:

Recurring Fair Value Measures
 
As of December 31, 2012
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
(Millions of Dollars)
Assets:
 
 
 
 
 
 
 
 
Restricted Cash
 
$
2.7

 
$

 
$

 
$
2.7

Derivatives
 
0.9

 
12.3

 
4.7

 
17.9

Total
 
$
3.6

 
$
12.3

 
$
4.7

 
$
20.6

Liabilities:
 
 
 
 
 
 
 
 
Derivatives
 
$
0.5

 
$

 
$

 
$
0.5

Total
 
$
0.5

 
$

 
$

 
$
0.5


Recurring Fair Value Measures
 
As of December 31, 2011
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
(Millions of Dollars)
Assets:
 
 
 
 
 
 
 
 
Restricted Cash
 
$
45.5

 
$

 
$

 
$
45.5

Derivatives
 
0.3

 
14.6

 
5.7

 
20.6

Total
 
$
45.8

 
$
14.6

 
$
5.7

 
$
66.1

Liabilities:
 
 
 
 
 
 
 
 
Derivatives
 
$
8.2

 
$
1.0

 
$

 
$
9.2

Total
 
$
8.2

 
$
1.0

 
$

 
$
9.2

Fair value of derivatives classified as Level 3 in the fair value hierarchy
The following table summarizes the changes to derivatives classified as Level 3 in the fair value hierarchy:

 
2012
 
2011
 
(Millions of Dollars)
Balance as of January 1
$
5.7

 
$
5.9

Realized and unrealized gains (losses)

 

Purchases
11.0

 
16.1

Issuances

 

Settlements
(12.0
)
 
(16.3
)
Transfers in and/or out of Level 3

 

Balance as of December 31
$
4.7

 
$
5.7

 
 
 
 
Change in unrealized gains (losses) relating to instruments still held as of December 31
$

 
$

Carrying amount and estimated fair value of certain financial instruments
The carrying amount and estimated fair value of certain of our recorded financial instruments as of December 31 are as follows:

 
 
2012
 
2011
 
 
Carrying
 
Fair
 
Carrying
 
Fair
Financial Instruments
 
Amount
 
Value
 
Amount
 
Value
 
 
(Millions of Dollars)
Preferred stock, no redemption required
 
$
30.4

 
$
26.0

 
$
30.4

 
$
25.1

Long-term debt including current portion
 
$
4,772.9

 
$
5,447.3

 
$
4,541.4

 
$
5,179.9