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PART II
ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
FairValueMeasurements
AtDecember
(inmillions)
Level Level Level Netting
()
Total
Assets
Moneymarketinvestments - - -
Nucleardecommissioningtrusts
Money market investments - - -
Global equity securities - -
Fixed-income securities - -
Totalnucleardecommissioningtrusts
()
- -
Priceriskmanagementinstruments
(Note 9)
Electricity -
Gas - -
Totalpriceriskmanagementinstruments
Rabbi trusts
Fixed-income securities - - -
Life insurance contracts - - -
Totalrabbitrusts
- - -
Long-term disability trust
Money market investments - - -
Global equity securities - - -
Fixed-income securities - - -
Totallong-termdisabilitytrust
- -
Otherinvestments
- - -
TOTALASSETS
Liabilities
Price risk management instruments
(Note 9)
Electricity ()
Gas - - -
TOTALLIABILITIES
()
() Includestheeffectofthecontractualabilitytosettlecontractsundermasternettingagreementsandmargincashcollateral
() Representsamountbeforedeductingmillionprimarilyrelatedtodeferredtaxesonappreciationofinvestmentvalue
Valuation Techniques
The following describes the valuation techniques used to
measure the fair value of the assets and liabilities shown
in the tables above. Investments, primarily consisting of
equity securities, that are valued using a net asset value
per share can be redeemed quarterly with notice not to
exceed 90 days. Equity investments valued at net asset
value per share utilize investment strategies aimed at
matching the performance of indexed funds. Transfers
between levels in the fair value hierarchy are recognized
as of the end of the reporting period. There were no
material transfers between any levels for the year ended
December 31, 2015 and 2014.
Trust Assets
Nuclear decommissioning trust assets and other trust
assets are composed primarily of equity securities and
debt securities. In general, investments held in the trusts
are exposed to various risks, such as interest rate, credit,
and market volatility risks.