CenterPoint Energy 2014 Annual Report Download - page 110
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The following tables present additional information about assets or liabilities, including derivatives that are measured at fair value on a
recurring basis for which CenterPoint Energy has utilized Level 3 inputs to determine fair value:
100
(2)
Natural gas derivatives include no material amounts related to physical forward transactions with Enable.
Quoted Prices in
Active Markets
for Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Netting
Adjustments
(1)
Balance at December
31, 2013
(in millions)
Assets
Corporate equities
$
770
$
—
$
—
$
—
$
770
Investments, including money market
funds
61
—
—
—
61
Natural gas derivatives (2)
5
33
5
(9
)
34
Total assets
$
836
$
33
$
5
$
(9
)
$
865
Liabilities
Indexed debt securities derivative
$
—
$
455
$
—
$
—
$
455
Natural gas derivatives
1
27
2
(9
)
21
Total liabilities
$
1
$
482
$
2
$
(9
)
$
476
(1)
Amounts represent the impact of legally enforceable master netting arrangements that allow CenterPoint Energy to settle positive and
negative positions and also include cash collateral of less than $1 million posted with the same counterparties.
(2) The (Level 2) Natural gas derivative assets of $33 million include $1 million
related to physical forwards purchased from Enable.
Fair Value Measurements Using Significant
Unobservable Inputs (Level 3)
Derivative assets and liabilities, net
Year Ended December 31,
2014
2013
2012
(in millions)
Beginning balance
$
3
$
2
$
6
Total gains
14
3
3
Total settlements
1
(3
)
(6
)
Transfers out of Level 3
—
—
(
1
)
Transfers into Level 3
(1
)
1
—
Ending balance (1)
$
17
$
3
$
2
The amount of total gains for the period included in earnings
attributable to the change in unrealized gains or losses relating
to assets still held at the reporting date
$
16
$
2
$
1
(1)
During 2014, 2013 and 2012, CenterPoint Energy did not have significant Level 3 purchases or sales.