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SEC Filings

10-Q
SOUTHERN CO GAS filed this Form 10-Q on 11/04/2016
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NOTES TO THE CONDENSED FINANCIAL STATEMENTS: (Continued)
(UNAUDITED)


At September 30, 2016 and December 31, 2015, the pre-tax effects of unrealized derivative gains (losses) arising from energy-related derivative instruments designated as regulatory hedging instruments and deferred were as follows:
 
 
 
 
Unrealized Losses
 
 
 
Unrealized Gains
 
 
 
 
Successor
 
 
Predecessor
 
 
 
Successor
 
 
Predecessor
Derivative Category
 
Balance Sheet Location
 
September 30, 2016
 
 
December 31, 2015
 
Balance Sheet Location
 
September 30, 2016
 
 
December 31, 2015
 
 
 
 
(in millions)
 
 
(in millions)
 
 
 
(in millions)
 
 
(in millions)
Energy-related derivatives:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other regulatory assets, current
 
$
(3
)
 
 
$
(15
)
 
Other regulatory liabilities, current
 
$
3

 
 
$
15

 
 
Other regulatory assets, deferred
 

 
 
(2
)
 
Other regulatory liabilities, deferred
 

 
 

Total energy-related derivative gains (losses)
 
$
(3
)
 
 
$
(17
)
 
 
 
$
3

 
 
$
15

For the successor period July 1, 2016 through September 30, 2016 and the predecessor period three months ended September 30, 2015, the pre-tax effects of energy-related derivatives and interest rate derivatives designated as cash flow hedging instruments recognized in OCI and those reclassified from accumulated OCI into earnings were as follows:
 
 
Gain (Loss) Recognized in OCI on Derivative (Effective Portion)
 

 
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
 
 
Successor
 
 
Predecessor
 
 
 
Successor
 
 
Predecessor
Derivatives in Cash Flow Hedging Relationships
 
July 1, 2016 through September 30, 2016
 
 
Three Months Ended September 30, 2015
 
Statements of Income Location
 
July 1, 2016 through September 30, 2016
 
 
Three Months Ended September 30, 2015
 
 
(in millions)
 
 
(in millions)
 
 
 
(in millions)
 
 
(in millions)
Energy-related derivatives
 
$

 
 
$
(2
)
 
Cost of natural gas
 
$

 
 
$
(2
)
Interest rate derivatives
 
(5
)
 
 
(46
)
 
Interest expense, net of amounts capitalized
 

 
 
1

Total derivatives in cash flow hedging relationships
 
$
(5
)
 
 
$
(48
)
 
 
 
$

 
 
$
(1
)
For the predecessor periods January 1, 2016 through June 30, 2016 and nine months ended September 30, 2015, the pre-tax effects of energy-related derivatives and interest rate derivatives designated as cash flow hedging instruments recognized in OCI and those reclassified from accumulated OCI into earnings were as follows:
 
 
Gain (Loss) Recognized in OCI on Derivative (Effective Portion)
 

 
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
 
 
Predecessor
 
 
 
Predecessor
Derivatives in Cash Flow Hedging Relationships
 
January 1, 2016 through June 30, 2016
 
Nine Months Ended September 30, 2015
 
Statements of Income Location
 
January 1, 2016 through June 30, 2016
 
Nine Months Ended September 30, 2015
 
 
(in millions)
 
 
 
(in millions)
Energy-related derivatives
 
$

 
$
(3
)
 
Cost of natural gas
 
$
(1
)
 
$
(6
)
 
 

 

 
Other operations and maintenance
 

 
(1
)
Interest rate derivatives
 
(64
)
 
(1
)
 
Interest expense, net of amounts capitalized
 

 
2

Total derivatives in cash flow hedging relationships
 
$
(64
)
 
$
(4
)
 
 
 
$
(1
)
 
$
(5
)
For the successor period July 1, 2016 through September 30, 2016 and the predecessor periods January 1, 2016 through June 30, 2016 and three and nine months ended September 30, 2015, the pre-tax effects of energy-related derivatives and interest rate derivatives not designated as hedging instruments were as follows:


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