10-K - SCANA Corporation
10-K - SCANA Corporation
10-K - SCANA Corporation
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Table of Contents<br />
The fair value of energy-related derivatives and interest rate derivatives was reflected in the balance sheet as follows:<br />
Fair Values of Derivative Instruments<br />
Asset Derivatives<br />
Liability Derivatives<br />
Fair<br />
Balance Sheet<br />
Value<br />
Location(a)<br />
Balance Sheet<br />
Location(a)<br />
Millions of dollars<br />
As of December 31, 2011<br />
Derivatives designated as hedging instruments<br />
Interest rate contracts Other current assets $ 1 Other current liabilities $ 2<br />
Other deferred credits 75<br />
Total $ 1 $ 77<br />
As of December 31, 20<strong>10</strong><br />
Derivatives designated as hedging instruments<br />
Interest rate contracts Other deferred debits $ 4 Other current liabilities $ 34<br />
Other deferred credits 1<br />
Total $ 4 $ 35<br />
Derivatives not designated as hedging instruments<br />
Commodity contracts Prepayments and other $ 1<br />
Fair<br />
Value<br />
(a)<br />
Asset derivatives represent unrealized gains to Consolidated SCE&G, and liability derivatives represent unrealized losses. In<br />
Consolidated SCE&G’s consolidated balance sheet, unrealized gain and loss positions on commodity contracts with the same<br />
counterparty are reported as either a net asset or liability, and for purposes of the above disclosure they are reported on a<br />
gross basis.<br />
The effect of derivative instruments on the statement of income is as follows:<br />
Gain or (Loss)<br />
Reclassified from<br />
Gain or (Loss) Deferred<br />
Deferred Accounts into Income<br />
Derivatives in Cash Flow Hedging Relationships<br />
in Regulatory Accounts<br />
(Effective Portion)<br />
Millions of dollars (Effective Portion) Location Amount<br />
Year Ended December 31, 2011<br />
Interest rate contracts $ (76) Interest expense $ (3)<br />
Year Ended December 31, 20<strong>10</strong><br />
Interest rate contracts $ (36) Interest expense $ (2)<br />
Year Ended December 31, 2009<br />
Interest rate contracts $ 42 Interest expense $ (3)<br />
Derivatives Not Designated as Hedging Instruments Gain or (Loss) Recognized in Income<br />
Millions of dollars Location Amount<br />
Year Ended December 31, 2011<br />
Commodity contracts Gas purchased for resale $ (2)<br />
Year Ended December 31, 20<strong>10</strong><br />
Commodity contracts Gas purchased for resale $ (3)<br />
Year Ended December 31, 2009<br />
Commodity contracts Gas purchased for resale $ (16)<br />
Hedge Ineffectiveness<br />
Other gains (losses) recognized in income representing interest rate hedge ineffectiveness were $(1.1) million, net of tax, in<br />
2011 and were insignificant in 20<strong>10</strong>. These amounts are recorded within interest expense on the statement of income.<br />
127