DTE Energy 2012 Annual Report Download - page 72
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Table of Contents
The following tables present the fair value of derivative instruments as of December 31, 2012 and 2011:
Interest rate contracts
$ —
$(1)
Foreign currency exchange contracts
$ 3
$(5)
Commodity Contracts:
Natural Gas
2,024
(2,080)
Electricity
747
(705)
Other
31
(20)
$2,805
$(2,810)
Current
$2,272
$(2,282)
Noncurrent
533
(529)
$2,805
$(2,811)
Total fair value of derivatives
$2,272
$ 533
$(2,282)
$(529)
Counterparty netting
(2,050)
(440)
2,050
440
Collateral adjustment
—
(19)
74
—
$ 222
$ 74
$(158)
$(89)
The effect of derivatives not designated as hedging instruments on the Consolidated Statements of Operations for years ended December 31, 2012 and
2011 is as follows:
Foreign currency exchange contracts
Operating Revenue
$(2)
Commodity Contracts:
Natural Gas
Operating Revenue
58
Natural Gas
Fuel, purchased power and gas
(21)
Electricity
Operating Revenue
115
Other
Operating Revenue
9
$159
Revenues and energy costs related to trading contracts are presented on a net basis in the Consolidated Statements of Operations. Commodity derivatives
used for trading purposes, and financial non-trading commodity derivatives, are accounted for using the mark-to-market method with unrealized and realized
gains and losses recorded in Operating revenues. Non-trading physical commodity sale and purchase derivative contracts are generally accounted for using the
mark-to-market method with unrealized and realized gains and losses for sales recorded in Operating revenue and purchases recorded in Fuel, purchased
power and gas.
70