DTE Energy 2012 Annual Report Download - page 66
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Table of Contents
The following table presents assets and liabilities measured and recorded at fair value on a recurring basis as of December 31, 2012 and 2011:
Cash equivalents (b)
$ —
$140
$ —
$ —
$140
Nuclear decommissioning trusts
577
360
—
—
937
Other investments (c) (d)
57
38
—
—
95
Derivative assets:
Foreign currency exchange
contracts
—
3
—
(3)
—
Commodity Contracts:
Natural Gas
1,926
78
20
(1,991)
33
Electricity
—
523
224
(490)
257
Other
23
2
6
(25)
6
Total derivative assets
1,949
606
250
(2,509)
296
Total
$2,583
$1,144
$250
$(2,509)
$1,468
Derivative liabilities:
Foreign currency exchange
contracts
$ —
$(5)
$ —
$ 3
$(2)
Interest rate contracts
—
(1)
—
—
(1)
Commodity Contracts:
Natural Gas
(1,940)
(126)
(14)
1,976
(104)
Electricity
—
(513)
(192)
565
(140)
Other
(19)
(1)
—
20
—
Total derivative liabilities
(1,959)
(646)
(206)
2,564
(247)
Total
$(1,959)
$(646)
$(206)
$2,564
$(247)
Net Assets at the end of the period
$ 624
$498
$ 44
$ 55
$1,221
Current
$1,571
$660
$181
$(2,050)
$ 362
Noncurrent (e)
1,012
484
69
(459)
1,106
Total Assets
$2,583
$1,144
$250
$(2,509)
$1,468
Current
$(1,603)
$(527)
$(152)
$2,124
$(158)
Noncurrent
(356)
(119)
(54)
440
(89)
Total Liabilities
$(1,959)
$(646)
$(206)
$2,564
$(247)
Net Assets at the end of the period
$ 624
$498
$ 44
$ 55
$1,221
_______________________________________
(a) Amounts represent the impact of master netting agreements that allow the Company to net gain and loss positions and cash collateral held or placed with the same counterparties.
(b) At December 31, 2012 available for sale securities of $123 million included $109 million and $14 million of cash equivalents included in Restricted cash and Other investments on the
Consolidated Statements of Financial Position, respectively. At December 31, 2011 available for sale securities of $140 million, included $124 million and $16 million of cash
equivalents included in Restricted cash and Other investments on the Consolidated Statements of Financial Position, respectively.
(c) Excludes cash surrender value of life insurance investments.
(d) Available for sale equity securities of $5 million at December 31, 2012 and December 31, 2011 are included in Other investments on the Consolidated Statements of Financial
Position, respectively.
(e) Includes $110 million and $95 million of Other investments that are included in the Consolidated Statements of Financial Position in Other investments at December 31, 2012 and
December 31, 2011, respectively.
Cash Equivalents
Cash equivalents include investments with maturities of three months or less when purchased. The cash equivalents shown in the fair value table are
comprised of short-term investments and money market funds. The fair values of the shares in these investments are based upon observable market prices for
similar securities and, therefore, have been categorized as Level 2 in the fair value hierarchy.
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