1.0.0.3 false Impairment Losses and Other Costs false 1 $ false false shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 usd Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 usdPerShare Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 2 NOTES TO FINANCIAL STATEMENTS 0 ceg_NotesToFinancialStatementsAbstract ceg false na duration string Notes To Financial Statements [Abstract] false false false false false true false false false 1 false false 0 0 false false Notes To Financial Statements [Abstract] false 3 Impairment Losses and Other Costs 1 ceg_ImpairmentsTextBlock ceg false na duration string Disclosure of long-lived, physical assets and intangible assets, including goodwill, that have been impaired during the... false false false false false false false false false 1 false false 0 0 <table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> Impairment Losses and Other Costs Available for Sale Securities We evaluated for impairment certain of our investments in equity securities during the nine months ended September 30, 2009. The investments we evaluated included our nuclear decommissioning trust fund assets and other marketable securities. We record an impairment charge if an investment has experienced a decline in fair value to a level less than its carrying value and the decline is "other than temporary."         In making this determination, we evaluate the reasons for an investment's decline in value, the extent and duration of that decline, and factors that indicate whether and when the value will recover. For securities held in our nuclear decommissioning trust fund for which the market value is below book value, the decline in fair value is considered other than temporary and we write them down to fair value. We discuss our impairment policy for our nuclear decommissioning trust fund assets and other marketable securities in more detail in Note 1 to our 2008 Annual Report on Form 10-K.         The fair values of certain of our marketable securities and certain of the securities held in our nuclear decommissioning trust fund declined below book value. As a result, we recorded a $0.2 million pre-tax impairment charge for the quarter ended September 30, 2009 and a $62.6 million pre-tax impairment charge for the nine months ended September 30, 2009 for our nuclear decommissioning trust fund assets in the "Other income (expense)" line in our Consolidated Statements of Income (Loss). In addition, we recorded all other changes in the fair value of our nuclear decommissioning trust fund assets that are not impaired in other comprehensive (loss) income. We also recorded an impairment charge of $0.5 million for other marketable securities during the nine months ended September 30, 2009.         The estimates we utilize in evaluating impairment of our available for sale securities require judgment and the evaluation of economic and other factors that are subject to variation, and the impact of such variations could be material. Equity Method Investments Shipping Joint Venture We record an impairment if an equity method investment has experienced a decline in fair value to a level less than our carrying value and the decline is "other than temporary." During the quarter ended June 30, 2009, we contemplated several potential courses of action together with our partner relating to the strategic direction of our shipping joint venture and our continuing involvement. This led to a decision to explore a plan to sell our 50% interest to a party related to our joint venture partner for negligible proceeds. During July 2009, a definitive purchase and sale agreement was executed between the parties and the transaction closed in the third quarter of 2009. We have no further involvement in the activities of the joint venture.         As a result of the events that occurred during the second quarter of 2009, we concluded that the fair value of our investment had declined to a level below the carrying value at June 30, 2009 and that this decline was "other than temporary." As such, we recorded a pre-tax impairment charge at June 30, 2009 of $59.0 million associated with our equity investment in our shipping joint venture within the "Impairment losses and other costs" line in our Consolidated Statements of Income (Loss), and reported the charge in our merchant energy business results for the second quarter of 2009. Constellation Energy Partners LLC As of March 31, 2009, the fair value of our investment in Constellation Energy Partners LLC (CEP) based upon its closing unit price was $10.0 million, which was lower than its carrying value of $24.0 million.         The decline in fair value of our investment in CEP reflected a number of other factors, including: <ul> <li style="list-style: none"> <dl compact="compact"> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times"> </dt> <dd style="FONT-FAMILY: times">continuing difficulties in the financial and credit markets in the United States,</dd> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times"> </dt> <dd style="FONT-FAMILY: times">decreases in the market price of natural gas and oil,</dd> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times"> </dt> <dd style="FONT-FAMILY: times">the effect of these factors on market perceptions of gas exploration and production master limited partnerships, and</dd> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times"> </dt> <dd style="FONT-FAMILY: times">factors related to Constellation Energy's financial condition and possible sale of its investment in CEP.</dd></dl></li></ul>         As a result of evaluating these factors, we determined that the decline in the value of our investment was other than temporary. Therefore, we recorded a $14.0 million pre-tax impairment charge at March 31, 2009 to write-down our investment to fair value. We recorded this charge in "Impairment losses and other costs" in our Consolidated Statements of Income (Loss). We did not record an impairment charge in the second or third quarters of 2009. Other Costs During the quarter and nine months ended September 30, 2009, we recorded $7.5 million and $29.8 million pre-tax charges, respectively, in the "Impairment losses and other costs" line in our Consolidated Statements of Income (Loss) primarily related to: <ul> <li style="list-style: none"> <dl compact="compact"> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times"> </dt> <dd style="FONT-FAMILY: times">divested operationslong-lived assets no longer used and lease terminations, and</dd> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: times"> </dt> <dd style="FONT-FAMILY: times">the write-off of an uncollectible advance to an affiliate.</dd></dl></li></ul></td></tr></table> Impairment Losses and Other Costs Available for Sale Securities We evaluated for impairment certain of our investments in equity securities during the nine false false Disclosure of long-lived, physical assets and intangible assets, including goodwill, that have been impaired during the period. This disclosure may include a description of long-lived assets and intangible assets that were impaired, the methodology, and amounts of the impairment loss. No authoritative reference available. false false 1 2 false UnKnown UnKnown UnKnown false true