CenterPoint Energy 2013 Annual Report Download - page 121
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99
(2) The (Level 2) Natural gas derivative assets of $33 million include $1 million related to physical forwards purchased from
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,
2012
(in millions)
Assets
Corporate equities.................................. $542$—$—$—$542
Investments, including money market
funds................................................... 76———76
Natural gas derivatives .......................... 140 7 (6)42
Total assets........................................ $ 619$ 40$ 7$ (6) $ 660
Liabilities
Indexed debt securities derivative ......... $—$268$—$—$268
Natural gas derivatives .......................... 521 5
(15)16
Total liabilities.................................. $5$289$5$
(15) $ 284
(1) Amounts represent the impact of legally enforceable master netting agreements that allow CenterPoint Energy to settle
positive and negative positions and also include cash collateral of $9 million posted with the same counterparties.
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:
Fair Value Measurements Using Significant
Unobservable Inputs (Level 3)
Derivative assets and liabilities, net
Year Ended December 31,
2013 2012 2011
(in millions)
Beginning balance........................................................................................... $2$6$3
Total gains (1) ................................................................................................. 336
Total settlements (1)........................................................................................ (3)(6)(3)
Total purchases................................................................................................ —— 2
Transfers out of Level 3 .................................................................................. —(1)(2)
Transfers into Level 3 ..................................................................................... 1——
Ending balance (2) .......................................................................................... $3$2$6
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........................................................ $2$1$5
________
(1) During 2013, 2012 and 2011, CenterPoint Energy did not have Level 3 unrealized gains (losses) or settlements related
to price stabilization activities of the Natural Gas Distribution business segment.
(2) During 2013, 2012 and 2011, CenterPoint Energy did not have significant Level 3 sales.