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Table of Contents
The following table details our outstanding commodity-related derivatives:
December 31, 2013
December 31, 2012
Notional
Volume
Maturity
Notional
Volume
Maturity
Mark-to-Market Derivatives

Natural Gas (MMBtu):
Fixed Swaps/Futures 9,457,500
2014-2019
—
—
Basis Swaps IFERC/NYMEX(1) (487,500)
2014-2017
(30,980,000)
2013-2014
Swing Swaps 1,937,500
2014-2016
—
—
Power (Megawatt):
Forwards 351,050
2014
19,650
2013
Futures (772,476)
2014
(1,509,300)
2013
Options – Puts (52,800)
2014
—
—
Options – Calls 103,200
2014
1,656,400
2013
Crude (Bbls) – Futures 103,000
2014
—
—

Natural Gas (MMBtu):
Basis Swaps IFERC/NYMEX 570,000
2014
150,000
2013
Swing Swaps IFERC (9,690,000)
2014-2016
(83,292,500)
2013
Fixed Swaps/Futures (8,195,000)
2014-2015
27,077,500
2013
Forward Physical Contracts 5,668,559
2014-2015
11,689,855
2013-2014
Natural Gas Liquid (Bbls) – Forwards/Swaps (280,000)
2014
(30,000)
2013
Refined Products (Bbls) – Futures (1,133,600)
2014
(666,000)
2013
Fair Value Hedging Derivatives

Natural Gas (MMBtu):
Basis Swaps IFERC/NYMEX (7,352,500)
2014
(18,655,000)
2013
Fixed Swaps/Futures (50,530,000)
2014
(44,272,500)
2013
Hedged Item – Inventory 50,530,000
2014
44,272,500
2013
Cash Flow Hedging Derivatives

Natural Gas (MMBtu):
Basis Swaps IFERC/NYMEX (1,825,000)
2014
—
—
Fixed Swaps/Futures (12,775,000)
2014
(8,212,500)
2013
Natural Gas Liquid (Bbls) – Forwards/Swaps (780,000)
2014
(930,000)
2013
Refined Products (Bbls) – Futures —
—
(98,000)
2013
Crude (Bbls) – Futures (30,000)
2014
—
—
(1) Includes aggregate amounts for open positions related to Houston Ship Channel, Waha Hub, NGPL TexOk, West Louisiana Zone and Henry Hub
locations.
We expect gains of $4 million related to commodity derivatives to be reclassified into earnings over the next 12 months related to amounts currently
reported in AOCI. The amount ultimately realized, however, will differ as commodity prices change and the underlying physical transaction occurs.
Interest Rate Risk
We are exposed to market risk for changes in interest rates. To maintain a cost effective capital structure, we borrow funds using a mix of fixed rate debt
and variable rate debt. We also manage our interest rate exposure by utilizing interest rate swaps
F - 54