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Financial and Other Derivative Instruments (Tables)
9 Months Ended
Sep. 30, 2011
Derivative Instruments and Hedging Activities Disclosure [Abstract] 
Fair value of derivative instruments
The following tables present the fair value of derivative instruments as of September 30, 2011:

(in Millions)
Derivative Assets
 
Derivative Liabilities
Derivatives designated as hedging instruments:
 
 
 
Interest rate contracts
$
—

 
$
(1
)
Derivatives not designated as hedging instruments:
 
 
 
Foreign currency exchange contracts
$
6

 
$
(9
)
Commodity Contracts:
 
 
 
  Natural Gas
1,746

 
(1,795
)
  Electricity
393

 
(365
)
  Other
29

 
(15
)
Total derivatives not designated as hedging instruments
$
2,174

 
$
(2,184
)
Total derivatives:
 
 
 
Current
$
1,635

 
$
(1,643
)
Noncurrent
539

 
(542
)
Total derivatives
$
2,174

 
$
(2,185
)

 
Derivative Assets
 
Derivative Liabilities
 
Current
 
Noncurrent
 
Current
 
Noncurrent
Reconciliation of derivative instruments to Consolidated Statements of Financial Position:
 
 
 
 
 
 
 
Total fair value of derivatives
$
1,635

 
$
539

 
$
(1,643
)
 
$
(542
)
Counterparty netting
(1,526
)
 
(480
)
 
1,526

 
480

Collateral adjustment
—

 
—

 
3

 
—

Total derivatives as reported
$
109

 
$
59

 
$
(114
)
 
$
(62
)

The following tables present the fair value of derivative instruments as of December 31, 2010:

(in Millions)
Derivative Assets
 
Derivative Liabilities
Derivatives designated as hedging instruments:
 
 
 
Interest rate contracts
$
—

 
$
(1
)
Derivatives not designated as hedging instruments:
 
 
 
Foreign currency exchange contracts
$
20

 
$
(30
)
Commodity Contracts:
 
 
 
Natural Gas
1,986

 
(2,118
)
Electricity
766

 
(716
)
Other
76

 
(71
)
Total derivatives not designated as hedging instruments
$
2,848

 
$
(2,935
)
Total derivatives:
 
 
 
Current
$
2,011

 
$
(2,041
)
Noncurrent
837

 
(895
)
Total derivatives
$
2,848

 
$
(2,936
)

 
Derivative Assets
 
Derivative Liabilities
 
Current
 
Noncurrent
 
Current
 
Noncurrent
Reconciliation of derivative instruments to Consolidated Statements of Financial Position:
 
 
 
 
 
 
 
Total fair value of derivatives
$
2,011

 
$
837

 
$
(2,041
)
 
$
(895
)
Counterparty netting
(1,871
)
 
(760
)
 
1,871

 
760

Collateral adjustment
(9
)
 
—

 
28

 
25

Total derivatives as reported
$
131

 
$
77

 
$
(142
)
 
$
(110
)
Gain (Loss) Recognized in Income on Derivative
The income effect of derivatives not designated as hedging instruments on the Consolidated Statements of Operations for the three and nine months ended September 30, 2011 and September 30, 2010 is as follows:

 
 
Location of Gain
(Loss) Recognized
 
Gain (Loss)
Recognized in
Income on
Derivatives for
Three Months Ended
 
Gain (Loss)
Recognized in
Income on
Derivatives for
Nine Months Ended
(in Millions)
 
in Income
 
September 30
 
September 30
Derivatives Not Designated As Hedging Instruments
 
On Derivatives
 
2011
 
2010
 
2011
 
2010
Foreign currency exchange contracts
 
Operating Revenue
 
$
4

 
$
(8
)
 
$
(1
)
 
$
(5
)
Commodity Contracts:
 
 
 
 
 
 
 
 
 
 
  Natural Gas
 
Operating Revenue
 
9

 
24

 
24

 
51

  Natural Gas
 
Fuel, purchased power and gas
 
10

 
(1
)
 
—

 
(7
)
  Electricity
 
Operating Revenue
 
35

 
(6
)
 
64

 
43

  Other
 
Operating Revenue
 
1

 
5

 
9

 
6

  Other
 
Operation and maintenance
 
—

 
(2
)
 
—

 
(3
)
Total
 
 
 
$
59

 
$
12

 
$
96

 
$
85

Volume of Commodity Contracts [Table Text Block]
The following table presents the cumulative gross volume of derivative contracts outstanding as of September 30, 2011:

 
 
 
Commodity
 
Number of Units
Natural Gas (MMBtu)
 
631,382,267

Electricity (MWh)
 
46,441,874

Foreign Currency Exchange ($ CAD)
 
60,992,581