Duke Energy 2013 Annual Report Download - page 186

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PART II
DUKE ENERGY CORPORATION • DUKE ENERGY CAROLINAS, LLC • PROGRESS ENERGY, INC. •
DUKE ENERGY PROGRESS, INC. • DUKE ENERGY FLORIDA, INC. • DUKE ENERGY OHIO, INC. • DUKE ENERGY INDIANA, INC.
Combined Notes to Consolidated Financial Statements – (Continued)
The following table provides a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.
Derivatives (net)
Years Ended December 31,
(in millions) 2013 2012 2011
Balance at beginning of period $(38) $(24) $(36)
Total pretax realized or unrealized gains included in earnings —1 —
Purchases, sales, issuances and settlements:
Issuances 10 (16) —
Settlements — 4 —
Total losses included on the Consolidated Balance Sheet as regulatory assets or liabilities (6) (3) (20)
Transfers out of Level 3(a) 34 — 32
Balance at end of period $ — $(38) $(24)
Pretax amounts included in the Consolidated Statements of Operations and Comprehensive Income related to Level 3 measurements outstanding $ 11
(a) Transfers reflect derivative contracts becoming observable due to the passage of time.
DUKE ENERGY FLORIDA
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
Derivative amounts in the table below exclude cash collateral which is disclosed in Note 14. See Note 15 for additional information related to investments by major
security type.
December 31, 2013
(in millions) Total Fair Value Level 1 Level 2 Level 3
Nuclear decommissioning trust fund equity securities $ 546 $546 $ — $ —
Nuclear decommissioning trust fund debt securities and other 214 96 118 —
Other trading and available-for-sale debt securities and other(a) 40 2 38 —
Derivative assets(b) 1 — 1 —
Total assets 801 644 157 —
Derivative liabilities(c) (116) — (116) —
Net assets $ 685 $644 $ 41 $ —
December 31, 2012
(in millions) Total Fair Value Level 1 Level 2 Level 3
Nuclear decommissioning trust fund equity securities $ 435 $429 $ 6 $—
Nuclear decommissioning trust fund debt securities and other 194 43 151 —
Other trading and available-for-sale debt securities and other(a) 43 3 40 —
Derivative assets(b) 9 — 9 —
Total assets 681 475 206 —
Derivative liabilities(c) (270) — (270) —
Net assets $ 411 $475 $ (64) $ —
(a) Included in Other within Investments and Other Assets in the Consolidated Balance Sheets.
(b) Included in Other within Current Assets and Other within Investments and Other Assets in the Consolidated Balance Sheets.
(c) Included in Other within Current Liabilities and Other within Deferred Credits and Other Liabilities in the Consolidated Balance Sheets.