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Financial and Other Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 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 December 31, 2011:
 
Derivative Assets
 
Derivative Liabilities
 
(In millions)
Derivatives designated as hedging instruments:
 
 
 
Interest rate contracts
$
—

 
$
(1
)
Derivatives not designated as hedging instruments:
 
 
 
Foreign currency exchange contracts
$
3

 
$
(5
)
Commodity Contracts:
 
 
 
Natural Gas
2,024

 
(2,080
)
Electricity
747

 
(705
)
Other
31

 
(20
)
Total derivatives not designated as hedging instruments:
$
2,805

 
$
(2,810
)
Total derivatives:
 
 
 
Current
$
2,272

 
$
(2,282
)
Noncurrent
533

 
(529
)
Total derivatives
$
2,805

 
$
(2,811
)

 
Derivative Assets
 
Derivative Liabilities
 
Current
 
Noncurrent
 
Current
 
Noncurrent
Reconciliation of derivative instruments to Consolidated Statements of Financial Position:
 
 
 
 
 
 
 
Total fair value of derivatives
$
2,272

 
$
533

 
$
(2,282
)
 
$
(529
)
Counterparty netting
(2,050
)
 
(440
)
 
2,050

 
440

Collateral adjustment
—

 
(19
)
 
74

 
—

Total derivatives as reported
$
222

 
$
74

 
$
(158
)
 
$
(89
)

The following tables present the fair value of derivative instruments as of December 31, 2010:
 
Derivative Assets
 
Derivative Liabilities
 
(In millions)
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 effect of derivatives not designated as hedging instruments on the Consolidated Statements of Operations for years ended December 31, 2011 and December 31, 2010 is as follows:

 
Location of Gain
(Loss) Recognized
in Income on Derivatives
 
Gain (Loss)
Recognized in
Income on
Derivatives for
Years Ended
December 31
Derivatives not Designated as Hedging Instruments
 
2011
 
2010
 
 
 
(In millions)
Foreign currency exchange contracts
Operating Revenue
 
$
(2
)
 
$
(14
)
Commodity Contracts:
 
 
 
 
 
Natural Gas
Operating Revenue
 
58

 
61

Natural Gas
Fuel, purchased power and gas
 
(21
)
 
(8
)
Electricity
Operating Revenue
 
115

 
80

Other
Operating Revenue
 
9

 
9

Other
Operation and maintenance
 
—

 
(5
)
Total
 
 
$
159

 
$
123
Volume of Commodity Contracts [Table Text Block]
Commodity
Number of Units
Natural Gas (MMBtu)
770,624,682
Electricity (MWh)
48,286,149
Foreign Currency Exchange ($ CAD)
34,904,696