Financial and Other Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair value of derivative instruments

The following tables present the fair value of derivative instruments as of March 31, 2012:

	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	$	2	$	(3	)
Commodity Contracts:
Natural Gas	1,701		(1,849		)
Electricity	1,038		(1,012		)
Other	53		(37		)
Total derivatives not designated as hedging instruments:	$	2,794	$	(2,901	)
Total derivatives:
Current	$	2,325	$	(2,368	)
Noncurrent	469		(534		)
Total derivatives	$	2,794	$	(2,902	)

	Derivative Assets						Derivative Liabilities
	Current			Noncurrent			Current			Noncurrent
Reconciliation of derivative instruments to Consolidated Statements of Financial Position:
Total fair value of derivatives	$	2,325		$	469		$	(2,368	)	$	(534	)
Counterparty netting	(2,047		)	(391		)	2,047			391
Collateral adjustment	(1		)	—			83			44
Total derivatives as reported	$	277		$	78		$	(238	)	$	(99	)

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	)

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 March 31, 2012 and March 31, 2011 is as follows:

	Location of Gain (Loss) Recognized in Income on Derivatives	Gain (Loss) Recognized in Income on Derivatives for the Three Months Ended March 31
Derivatives not Designated as Hedging Instruments		2012			2011
		(In millions)
Foreign currency exchange contracts	Operating Revenue	$	—		$	(6	)
Commodity Contracts:
Natural Gas	Operating Revenue	2			6
Natural Gas	Fuel, purchased power and gas	(10		)	(6		)
Electricity	Operating Revenue	(2		)	(1		)
Other	Operating Revenue	8			6
Total		$	(2	)	$	(1	)

Volume of Commodity Contracts [Table Text Block]

Commodity	Number of Units
Natural Gas (MMBtu)	714,004,821
Electricity (MWh)	53,173,797
Foreign Currency Exchange ($ CAD)	31,220,488