XML 26 R70.htm IDEA: XBRL DOCUMENT v2.4.0.8
Risk Management and Hedging Activities (MEC) (Tables) (MidAmerican Energy Company [Member])
 12 Months Ended
Dec. 31, 2013
MidAmerican Energy Company [Member]
  
Derivatives, Fair Value [Line Items]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
The following table, which reflects master netting arrangements and excludes contracts that have been designated as normal under the normal purchases or normal sales exception afforded by GAAP, summarizes the fair value of MidAmerican Energy's derivative contracts, on a gross basis, and reconciles those amounts to the amounts presented on a net basis on the Balance Sheets (in millions):
 
Current
 
Other
 
Current
 
Other
 
 
 
Assets
 
Assets
 
Liabilities
 
Liabilities
 
 
 
- Other
 
- Other
 
- Other
 
- Other
 
Total
As of December 31, 2013
 
 
 
 
 
 
 
 
 
Not designated as hedging contracts(1):
 
 
 
 
 
 
 
 
 
Commodity assets
$
3

 
$
3

 
$
16

 
$
1

 
$
23

Commodity liabilities
(1
)
 
(1
)
 
(32
)
 
(6
)
 
(40
)
Total
2

 
2

 
(16
)
 
(5
)
 
(17
)
 
 
 
 
 
 
 
 
 
 
Designated as hedging contracts:
 
 
 
 
 
 
 
 
 
Commodity assets
1

 
—

 
1

 
—

 
2

Commodity liabilities
(1
)
 
—

 
(5
)
 
(6
)
 
(12
)
Total
—

 
—

 
(4
)
 
(6
)
 
(10
)
 
 
 
 
 
 
 
 
 
 
Total derivatives
2

 
2

 
(20
)
 
(11
)
 
(27
)
Cash collateral receivable
(2
)
 
—

 
1

 
1

 
—

Total derivatives - net basis
$
—

 
$
2

 
$
(19
)
 
$
(10
)
 
$
(27
)
 
 
 
 
 
 
 
 
 
 
As of December 31, 2012
 
 
 
 
 
 
 
 
 
Not designated as hedging contracts(1):
 
 
 
 
 
 
 
 
 
Commodity assets
$
18

 
$
1

 
$
7

 
$
2

 
$
28

Commodity liabilities
(12
)
 
—

 
(47
)
 
(14
)
 
(73
)
Total
6

 
1

 
(40
)
 
(12
)
 
(45
)
 
 
 
 
 
 
 
 
 
 
Designated as hedging contracts:
 
 
 
 
 
 
 
 
 
Commodity assets
—

 
—

 
1

 
1

 
2

Commodity liabilities
—

 
—

 
(22
)
 
(12
)
 
(34
)
Total
—

 
—

 
(21
)
 
(11
)
 
(32
)
 
 
 
 
 
 
 
 
 
 
Total derivatives
6

 
1

 
(61
)
 
(23
)
 
(77
)
Cash collateral receivable
—

 
—

 
6

 
1

 
7

Total derivatives - net basis
$
6

 
$
1

 
$
(55
)
 
$
(22
)
 
$
(70
)
(1)
MidAmerican Energy's commodity derivatives not designated as hedging contracts are generally included in regulated rates. Accordingly, as of December 31, 2013 and 2012, a net regulatory asset of $10 million and $45 million, respectively, was recorded related to the net derivative liability of $17 million and $45 million, respectively.
Schedule of Regulatory Assets (Liabilities), Net, Unrealized Loss (Gain), Net, on Derivative Contracts [Table Text Block]
The following table reconciles the beginning and ending balances of MidAmerican Energy's net regulatory assets and summarizes the pre-tax gains and losses on commodity derivative contracts recognized in net regulatory assets , as well as amounts reclassified to earnings for the years ended December 31 (in millions):
 
2013
 
2012
 
2011
 
 
 
 
 
 
Beginning balance
$
45

 
$
73

 
$
27

Changes in fair value recognized in net regulatory assets
5

 
14

 
76

Net (losses) gains reclassified to operating revenue
(1
)
 
21

 
—

Net (losses) gains reclassified to cost of fuel, energy and capacity
(1
)
 
2

 
8

Net losses reclassified to cost of gas sold
(38
)
 
(65
)
 
(38
)
Ending balance
$
10

 
$
45

 
$
73
Schedule Of Nonregulated Derivatives Not Designated As Hedging Instruments Gain (Loss) In Statement Of Financial Performance [Table Text Block]
The following table summarizes the pre-tax gains (losses) included on the Statements of Operations associated with MidAmerican Energy's derivative contracts not designated as hedging contracts and not recorded as a net regulatory asset or liability for the years ended December 31 (in millions):
 
2013
 
2012
 
2011
 
 
 
 
 
 
Nonregulated operating revenue
$
—

 
$
8

 
$
18

Nonregulated cost of sales
(2
)
 
(4
)
 
(13
)
Total
$
(2
)
 
$
4

 
$
5
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The following table reconciles the beginning and ending balances of MidAmerican Energy's accumulated other comprehensive loss (pre-tax) and summarizes pre-tax gains and losses on derivative contracts designated and qualifying as cash flow hedges recognized in OCI, as well as amounts reclassified to earnings, for the years ended December 31 (in millions):
 
2013
 
2012
 
2011
 
 
 
 
 
 
Beginning balance
$
32

 
$
43

 
$
34

Changes in fair value recognized in OCI
(11
)
 
27

 
27

Net losses reclassified to nonregulated cost of sales
(10
)
 
(38
)
 
(18
)
Ending balance
$
11

 
$
32

 
$
43
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]
The following table summarizes the net notional amounts of outstanding derivative contracts with fixed price terms that comprise the mark-to-market values as of December 31 (in millions):
 
Unit of
 
 
 
 
 
Measure
 
2013
 
2012
 
 
 
 
 
 
Electricity purchases
Megawatt hours
 
5

 
5

Natural gas purchases
Decatherms
 
21

 
36