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Fair Value (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Unrealized Gain (Loss) on Investments
AES Ohio established a Master Trust to hold assets that could be used for the benefit of employees participating in employee benefit plans. These assets are not used for general operating purposes. These assets are primarily comprised of open-ended mutual funds, which are valued using the net asset value per unit. These assets are recorded at fair value within Other non-current assets on the Condensed Consolidated Balance Sheets and are classified as equity investments. Net unrealized gains related to equity investments still held as of June 30, 2025 and 2024 are as follows:
Three months endedSix months ended
June 30,June 30,
$ in millions2025202420252024
Net unrealized gains (a)
$0.3 $— $0.2 $0.3 

(a)    These amounts are included in Other income, net in our Condensed Consolidated Statements of Operations.
Fair Value Measurement Inputs and Valuation Techniques
The following table presents the carrying amount, fair value, and fair value hierarchy of our financial liabilities that are not measured at fair value in the Condensed Consolidated Balance Sheets as of the periods indicated, but for which fair value is disclosed:
June 30, 2025December 31, 2024
Carrying Amount
Fair Value
Carrying Amount
Fair Value
$ in millionsLevel 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Liabilities
Long-term debt$1,426.3 $— $1,301.8 $16.5 $1,318.3 $1,840.0 $— $1,692.4 $16.6 $1,709.0 
Fair Value of Assets and Liabilities Measured on Recurring Basis
The fair value of assets and liabilities as of June 30, 2025 and December 31, 2024 measured on a recurring basis and the respective category within the fair value hierarchy for DPL is as follows:
Fair value as of June 30, 2025Fair value as of December 31, 2024
$ in millionsLevel 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets
Master Trust assets
Money market funds$0.6 $— $— $0.6 $0.4 $— $— $0.4 
Mutual funds7.2 — — 7.2 7.6 — — 7.6 
Total assets$7.8 $— $— $7.8 $8.0 $— $— $8.0