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RISK MANAGEMENT ACTIVITIES (Tables)
 12 Months Ended
Dec. 31, 2014
Risk management activities  
Assets and liabilities from risk management activities
The following tables show our assets and liabilities from risk management activities at the utilities and IBS:
 
 
 
 
December 31, 2014
(Millions)
 
Balance Sheet Presentation
 
Assets from
Risk Management Activities
 
Liabilities from
Risk Management Activities
Nonhedge derivatives
 
 
 
 

 
 

Natural gas contracts
 
Other current
 
$
1.8

 
$
37.3

Natural gas contracts
 
Other long-term
 
0.5

 
5.3

Financial transmission rights (FTRs)
 
Other current
 
2.2

 
0.3

Petroleum product contracts
 
Other current
 
—

 
2.7

Petroleum product contracts
 
Other long-term
 
—

 
0.1

Coal contracts
 
Other current
 
—

 
2.4

Coal contracts
 
Other long-term
 
—

 
1.0

 
 
Other current
 
4.0

 
42.7

 
 
Other long-term
 
0.5

 
6.4

Total
 
 
 
$
4.5

 
$
49.1


 
 
 
 
December 31, 2013
(Millions)
 
Balance Sheet Presentation
 
Assets from
Risk Management Activities
 
Liabilities from
Risk Management Activities
Nonhedge derivatives
 
 
 
 

 
 

Natural gas contracts
 
Other current
 
$
8.3

 
$
1.0

Natural gas contracts
 
Other long-term
 
1.8

 
0.1

FTRs
 
Other current
 
1.5

 
0.3

Petroleum product contracts
 
Other current
 
0.1

 
—

Coal contracts
 
Other current
 
—

 
1.9

Coal contracts
 
Other long-term
 
0.2

 
0.8

 
 
Other current
 
9.9

 
3.2

 
 
Other long-term
 
2.0

 
0.9

Total
 
 
 
$
11.9

 
$
4.1
Potential effect of netting arrangements for recognized derivative assets and liabilities
The following tables show the potential effect on our financial position of netting arrangements for recognized derivative assets and liabilities:
 
 
December 31, 2014
(Millions)
 
Gross Amount
 
Potential Effects of Netting, Including Cash Collateral
 
Net Amount
Derivative assets subject to master netting or similar arrangements
 
$
3.2

 
$
1.3

 
$
1.9

Derivative assets not subject to master netting or similar arrangements
 
1.3

 
 
 
1.3

Total risk management assets
 
$
4.5

 


 
$
3.2

 
 
 
 
 
 
 
Derivative liabilities subject to master netting or similar arrangements
 
$
45.7

 
$
8.8

 
$
36.9

Derivative liabilities not subject to master netting or similar arrangements
 
3.4

 
 
 
3.4

Total risk management liabilities
 
$
49.1

 


 
$
40.3


 
 
December 31, 2013
(Millions)
 
Gross Amount
 
Potential Effects of Netting, Including Cash Collateral
 
Net Amount
Derivative assets subject to master netting or similar arrangements
 
$
11.7

 
$
2.1

 
$
9.6

Derivative assets not subject to master netting or similar arrangements
 
0.2

 


 
0.2

Total risk management assets
 
11.9

 


 
9.8

 
 
 
 
 
 
 
Derivative liabilities subject to master netting or similar arrangements
 
$
1.4

 
$
1.4

 
$
—

Derivative liabilities not subject to master netting or similar arrangements
 
2.7

 


 
2.7

Total risk management liabilities
 
$
4.1

 


 
$
2.7
Cash collateral positions
The following table shows our cash collateral positions:
(Millions)
 
December 31, 2014
 
December 31, 2013
Cash collateral provided to others:
 
 
 
 
Related to contracts under master netting or similar arrangements
 
$
11.6

 
$
3.6

Other
 
1.1

 
1.1

Cash collateral received from others related to contracts under master netting or similar arrangements
 
—

 
0.7
Cash flow hedges | Holding Company and Other  
Risk management activities  
Loss reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)
 
 
Loss Reclassified from Accumulated OCI into Income (Effective Portion)
(Millions)
 
Income Statement Presentation
 
2014
 
2013
 
2012
Settled/Realized
 
 
 
 
 
 
 
 
Interest rate swaps
 
Interest expense
 
$
(1.1
)
 
$
(1.1
)
 
$
(1.1
)
Non-hedge derivatives | Utility segments  
Risk management activities  
Notional volumes of outstanding derivative contracts
The notional volumes of outstanding derivative contracts at the utilities and IBS were as follows:
 
 
December 31, 2014
 
December 31, 2013
(Millions)
 
Purchases
 
Sales
 
Other Transactions
 
Purchases
 
Sales
 
Other Transactions
Natural gas (therms)
 
1,860.0

 
—

 
N/A

 
3,124.8

 
29.3

 
N/A

FTRs (kilowatt-hours)
 
N/A

 
N/A

 
4,287.7

 
N/A

 
N/A

 
3,427.0

Petroleum products (barrels)
 
0.1

 
—

 
N/A

 
0.1

 
—

 
N/A

Coal (tons)
 
3.0

 
—

 
N/A

 
4.8

 
—

 
N/A
Unrealized gains (losses) related to derivatives
The table below shows the unrealized gains (losses) recorded related to derivative contracts at the utilities and IBS:
(Millions)
 
Financial Statement Presentation
 
2014
 
2013
 
2012
Natural gas
 
Balance Sheet — Regulatory assets (current)
 
$
(38.0
)
 
$
13.4

 
$
24.6

Natural gas
 
Balance Sheet — Regulatory assets (long-term)
 
(5.2
)
 
2.3

 
8.3

Natural gas
 
Balance Sheet — Regulatory liabilities (current)
 
(3.9
)
 
4.6

 
(7.8
)
Natural gas
 
Balance Sheet — Regulatory liabilities (long-term)
 
(0.6
)
 
0.3

 
0.3

Natural gas
 
Income Statement — Cost of sales
 
—

 
—

 
0.2

Natural gas
 
Income Statement — Operating and maintenance expense
 
(0.8
)
 
0.1

 
—

FTRs
 
Balance Sheet — Regulatory assets (current)
 
—

 
0.2

 
(0.1
)
FTRs
 
Balance Sheet — Regulatory liabilities (current)
 
0.4

 
(0.3
)
 
—

Petroleum
 
Balance Sheet — Regulatory assets (current)
 
(1.1
)
 
—

 
0.1

Petroleum
 
Balance Sheet — Regulatory liabilities (current)
 
(0.1
)
 
0.1

 
—

Petroleum
 
Income Statement — Operating and maintenance expense
 
(1.7
)
 
0.1

 
—

Coal
 
Balance Sheet — Regulatory assets (current)
 
(1.3
)
 
(0.9
)
 
(2.2
)
Coal
 
Balance Sheet — Regulatory assets (long-term)
 
—

 
3.5

 
0.1

Coal
 
Balance Sheet — Regulatory liabilities (current)
 
(0.2
)
 
(0.2
)
 
0.3

Coal
 
Balance Sheet — Regulatory liabilities (long-term)
 
(0.1
)
 
(2.0
)
 
2.2