Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Nov. 01, 2017 | |
Entity Registrant Name | DPL INC | |
Entity Central Index Key | 787,250 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2017 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 1 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Entity Voluntary Filers | Yes | |
Entity Well-known Seasoned Issuer | No | |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Entity Registrant Name | DAYTON POWER & LIGHT CO | |
Entity Central Index Key | 27,430 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 41,172,173 | |
Entity Voluntary Filers | Yes | |
Entity Well-known Seasoned Issuer | No |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Revenues | $ 323.9 | $ 389.3 | $ 945.9 | $ 1,081.6 |
Cost of revenues: | ||||
Net fuel cost | 57.3 | 78.9 | 165.4 | 206 |
Net purchased power cost | 84 | 111.7 | 263.4 | 330.5 |
Total cost of revenues | 141.3 | 190.6 | 428.8 | 536.5 |
Gross margin | 182.6 | 198.7 | 517.1 | 545.1 |
Operating expenses: | ||||
Operation and maintenance | 81.9 | 91.5 | 250.3 | 257.2 |
Depreciation and amortization | 27.3 | 30.9 | 81.8 | 100.3 |
General taxes | 20.1 | 21.6 | 68.3 | 64.2 |
Impairment of Long-Lived Assets Held-for-use | 0 | 0 | 66.4 | 235.5 |
Other | (0.3) | 0 | 15.9 | 0.1 |
Other Operating Income (Expense), Net | (5.2) | (0.7) | (6.1) | (0.7) |
Total operating expenses | 123.8 | 143.3 | 476.6 | 656.6 |
Operating income / (loss) | 58.8 | 55.4 | 40.5 | (111.5) |
Other income / (expense), net | ||||
Investment income | 0.1 | 0.1 | 0.2 | 0.3 |
Interest expense | (27.2) | (27) | (81.5) | (79.3) |
Charge for early redemption of debt | (3) | (0.5) | (3.3) | (3.1) |
Other expense | (0.7) | (0.2) | (2.3) | (0.9) |
Total other expense, net | (30.8) | (27.6) | (86.9) | (83) |
Income / (loss) from continuing operations before income tax | 28 | 27.8 | (46.4) | (194.5) |
Income tax expense / (benefit) from continuing operations | 6.1 | 12.7 | (17.1) | (75) |
Net income / (loss) from continuing operations | 21.9 | 15.1 | (29.3) | (119.5) |
Loss from discontinued operations | 0 | 0 | 0 | (0.7) |
Gain from disposal of discontinued operations | 0 | 0 | 0 | 49.2 |
Income tax expense for discontinued operations | 0 | 0 | 0 | 18.9 |
Net income from discontinued operations | 0 | 0 | 0 | 29.6 |
Net income / (loss) | 21.9 | 15.1 | (29.3) | (89.9) |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
Revenues | 305.6 | 368.4 | 900.8 | 1,031.3 |
Cost of revenues: | ||||
Net fuel cost | 52.8 | 71 | 152.8 | 189.5 |
Net purchased power cost | 83.5 | 110 | 260.7 | 328 |
Total cost of revenues | 136.3 | 181 | 413.5 | 517.5 |
Gross margin | 169.3 | 187.4 | 487.3 | 513.8 |
Operating expenses: | ||||
Operation and maintenance | 81.7 | 85.5 | 245.2 | 248 |
Depreciation and amortization | 22.7 | 24.1 | 68.2 | 95.2 |
General taxes | 19.6 | 21.2 | 66.8 | 62.8 |
Impairment of Long-Lived Assets Held-for-use | 0 | 0 | 66.3 | 857.1 |
Gain on termination of contract | 0 | 0 | 0 | (27.7) |
Other | (0.3) | 0 | 15.9 | 0.2 |
Other Operating Income (Expense), Net | (4.4) | 0 | (4.4) | 0 |
Total operating expenses | 119.3 | 130.8 | 458 | 1,235.6 |
Operating income / (loss) | 50 | 56.6 | 29.3 | (721.8) |
Other income / (expense), net | ||||
Investment income | 0.1 | 0.1 | 0.2 | 0.3 |
Interest expense | (7.7) | (6.5) | (23.1) | (17.2) |
Charge for early redemption of debt | (1) | (0.5) | (1.1) | (0.5) |
Other expense | (0.2) | 0.1 | (1.5) | (0.2) |
Total other expense, net | (8.8) | (6.8) | (25.5) | (17.6) |
Income / (loss) from continuing operations before income tax | 41.2 | 49.8 | 3.8 | (739.4) |
Income tax expense / (benefit) from continuing operations | 11.9 | 19.7 | 0.2 | (271.6) |
Net income / (loss) | 29.3 | 30.1 | 3.6 | (467.8) |
Dividends on preferred stock | 0 | 0.3 | 0 | 0.7 |
Income / (loss) attributable to common stock | $ 29.3 | $ 29.8 | $ 3.6 | $ (468.5) |
Condensed Consolidated Stateme3
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Net income | $ 21.9 | $ 15.1 | $ (29.3) | $ (89.9) |
Available-for-sale securities activity: | ||||
Change in fair value of available-for-sale securities, net of income tax | 0.1 | 0.1 | 0.4 | 0.2 |
Reclassification to earnings, net of income tax | 0 | 0 | (0.1) | 0 |
Total change in fair value of available-for-sale securities | 0.1 | 0.1 | 0.3 | 0.2 |
Derivative activity: | ||||
Change in derivative fair value, net of income tax | 1.4 | 9.5 | 12.1 | 22.4 |
Reclassification of earnings, net of income tax | (2.4) | (5.5) | (6) | (24.4) |
Total change in fair value of derivatives | (1) | 4 | 6.1 | (2) |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax | 0 | 0 | (0.3) | 0 |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax | 0 | 0 | (1.2) | 0 |
Pension and postretirement activity: | ||||
Reclassification to earnings, net of income tax | 0 | 0 | 0.9 | 0.1 |
Total change in unfunded pension obligation | 0 | 0 | (0.6) | 0.1 |
Other comprehensive income / (loss) | (0.9) | 4.1 | 5.8 | (1.7) |
Net comprehensive income / (loss) | 21 | 19.2 | (23.5) | (91.6) |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
Net income | 29.3 | 30.1 | 3.6 | (467.8) |
Available-for-sale securities activity: | ||||
Change in fair value of available-for-sale securities, net of income tax | 0.1 | 0.1 | 0.4 | 0.2 |
Reclassification to earnings, net of income tax | 0 | 0 | (0.1) | 0 |
Total change in fair value of available-for-sale securities | 0.1 | 0.1 | 0.3 | 0.2 |
Derivative activity: | ||||
Change in derivative fair value, net of income tax | 1.4 | 9.5 | 12.1 | 22.5 |
Reclassification of earnings, net of income tax | (2.4) | (5.6) | (6) | (24.8) |
Total change in fair value of derivatives | (1) | 3.9 | 6.1 | (2.3) |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax | 0 | 0 | (1.1) | 0 |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax | 0 | 0 | (0.5) | 0 |
Pension and postretirement activity: | ||||
Reclassification to earnings, net of income tax | 0.7 | 0.7 | 3.8 | 1.7 |
Total change in unfunded pension obligation | 0.7 | 0.7 | 2.2 | 1.7 |
Other comprehensive income / (loss) | (0.2) | 4.7 | 8.6 | (0.4) |
Net comprehensive income / (loss) | $ 29.1 | $ 34.8 | $ 12.2 | $ (468.2) |
Condensed Consolidated Stateme4
Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Income tax (expense)/benefit on unrealized gains (losses) related to available-for-sale securities | $ (0.1) | $ 0 | $ (0.2) | $ (0.1) |
Income tax (expense) benefit on reclassification to earnings | 0 | 0 | 0 | 0 |
Income tax (expense)/benefit on unrealized gains (losses) related to derivative activity | (0.8) | (5.2) | (6.6) | (12.3) |
Income tax (expense)/benefit on reclassification of earnings related to derivative activity | 1.3 | 3 | 3.3 | 13.8 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, Tax | 0 | 0 | 0.2 | 0 |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, Tax | 0 | 0 | 0.7 | 0 |
Income tax (expense)/benefit on reclassification of earnings related to pension and postretirement activity | 0 | 0 | (0.5) | (0.1) |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
Income tax (expense)/benefit on unrealized gains (losses) related to available-for-sale securities | (0.1) | 0 | (0.2) | (0.1) |
Income tax (expense) benefit on reclassification to earnings | 0 | 0 | 0 | 0 |
Income tax (expense)/benefit on unrealized gains (losses) related to derivative activity | (0.8) | 5.2 | (6.6) | (12.2) |
Income tax (expense)/benefit on reclassification of earnings related to derivative activity | 1.4 | 3 | 3.3 | 13.5 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, Tax | 0 | 0 | 0.6 | 0 |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, Tax | 0 | 0 | 0.2 | 0 |
Income tax (expense)/benefit on reclassification of earnings related to pension and postretirement activity | $ (0.4) | $ (0.4) | $ (2.1) | $ (1.6) |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Sep. 30, 2017 | Dec. 31, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 23.4 | $ 54.6 |
Restricted cash | 2 | 29 |
Accounts receivable, net | 111.4 | 135.1 |
Inventories | 28.7 | 77.2 |
Taxes applicable to subsequent years | 19.6 | 81 |
Regulatory assets, current | 4.5 | 0.1 |
Other prepayments and current assets | 23.4 | 31.8 |
Assets Held-for-sale, Not Part of Disposal Group, Current | 57 | 0 |
Total current assets | 270 | 408.8 |
Property, plant & equipment: | ||
Property, plant & equipment | 1,963.5 | 1,985.6 |
Less: Accumulated depreciation and amortization | (372.6) | (334.8) |
Property, plant and equipment, net of depreciation | 1,590.9 | 1,650.8 |
Construction work in process | 70.8 | 116.4 |
Total net property, plant & equipment | 1,661.7 | 1,767.2 |
Other non-current assets: | ||
Regulatory assets, non-current | 209.4 | 203.9 |
Intangible assets, net of amortization | 19.7 | 22.7 |
Other deferred assets | 13.5 | 16.6 |
Total other non-current assets | 242.6 | 243.2 |
Total assets | 2,174.3 | 2,419.2 |
Current liabilities: | ||
Current portion of long-term debt | 29.7 | 29.7 |
Short-term debt | 65 | 0 |
Accounts payable | 61.3 | 113.9 |
Accrued taxes | 169.9 | 185.1 |
Accrued interest | 26.8 | 17.7 |
Security deposits | 16.4 | 15.2 |
Regulatory liabilities, current | 20 | 33.7 |
Insurance and claims costs | 5.4 | 5.4 |
Other current liabilities | 31.5 | 50.2 |
Liabilities Held for Sale, Current | 7 | 0 |
Total current liabilities | 433 | 450.9 |
Non-current liabilities: | ||
Long-term debt | 1,712.2 | 1,828.7 |
Deferred taxes | 254.6 | 252.4 |
Taxes payable | 3.6 | 84.6 |
Regulatory liabilities, non-current | 134.5 | 130.4 |
Pension, retiree and other benefits | 100.7 | 101.6 |
Asset Retirement Obligations, Noncurrent | 132.5 | 138.8 |
Other deferred credits | 14 | 19.4 |
Total non-current liabilities | 2,352.1 | 2,555.9 |
Commitments and contingencies | ||
Common shareholder's equity: | ||
Common stock | 0 | 0 |
Other paid-in capital | 2,233.3 | 2,233 |
Accumulated other comprehensive income | 6.1 | 0.3 |
Retained earnings/ (deficit) | (2,850.2) | (2,820.9) |
Total common shareholder's equity | (610.8) | (587.6) |
Total liabilities and shareholder's equity | 2,174.3 | 2,419.2 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Current assets: | ||
Cash and cash equivalents | 15.3 | 1.6 |
Restricted cash | 2 | 29 |
Accounts receivable, net | 107.9 | 134.6 |
Inventories | 26.9 | 75.8 |
Taxes applicable to subsequent years | 19.2 | 79.2 |
Regulatory assets, current | 4.5 | 0.1 |
Other prepayments and current assets | 21.8 | 32.4 |
Assets Held-for-sale, Not Part of Disposal Group, Current | 57 | 0 |
Total current assets | 254.6 | 352.7 |
Property, plant & equipment: | ||
Property, plant & equipment | 2,345.4 | 2,398.6 |
Less: Accumulated depreciation and amortization | (1,060.6) | (1,047.9) |
Property, plant and equipment, net of depreciation | 1,284.8 | 1,350.7 |
Construction work in process | 52.3 | 89.9 |
Total net property, plant & equipment | 1,337.1 | 1,440.6 |
Other non-current assets: | ||
Regulatory assets, non-current | 209.4 | 203.9 |
Intangible assets, net of amortization | 19.9 | 23 |
Other deferred assets | 12.3 | 14.9 |
Total other non-current assets | 241.6 | 241.8 |
Total assets | 1,833.3 | 2,035.1 |
Current liabilities: | ||
Current portion of long-term debt | 4.7 | 4.7 |
Short-term debt | 15 | 5 |
Accounts payable | 56.6 | 110.5 |
Accrued taxes | 59.2 | 75.7 |
Accrued interest | 0.8 | 2.1 |
Security deposits | 16.4 | 15.2 |
Regulatory liabilities, current | 20 | 33.7 |
Other current liabilities | 31 | 48.3 |
Liabilities Held for Sale, Current | 6 | 0 |
Total current liabilities | 209.7 | 295.2 |
Non-current liabilities: | ||
Long-term debt | 643.3 | 744.7 |
Deferred taxes | 155.1 | 146.3 |
Taxes payable | 4.8 | 84.1 |
Regulatory liabilities, non-current | 134.5 | 130.4 |
Pension, retiree and other benefits | 100.7 | 101.6 |
Asset Retirement Obligations, Noncurrent | 131 | 135.2 |
Unamortized investment tax credit | 16.1 | 17.7 |
Other deferred credits | 12.4 | 17.6 |
Total non-current liabilities | 1,197.9 | 1,377.6 |
Commitments and contingencies | ||
Common shareholder's equity: | ||
Common stock | 0.4 | 0.4 |
Other paid-in capital | 791.9 | 810.7 |
Accumulated other comprehensive income | (33.9) | (42.5) |
Retained earnings/ (deficit) | (332.7) | (406.3) |
Total common shareholder's equity | 425.7 | 362.3 |
Total liabilities and shareholder's equity | $ 1,833.3 | $ 2,035.1 |
Condensed Consolidated Balance6
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2017 | Dec. 31, 2016 |
Common stock, shares authorized | 1,500 | 1,500 |
Common stock, shares issued | 1 | 1 |
Common stock, shares outstanding | 1 | 1 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Common stock, shares authorized | 250,000,000 | 250,000,000 |
Common stock, shares outstanding | 41,172,173 | 41,172,173 |
Common stock, par value (in USD per share) | $ 0.01 | $ 0.01 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Cash flows from operating activities: | ||
Net income | $ (29.3) | $ (89.9) |
Adjustments to reconcile net loss to net cash from operating activities: | ||
Depreciation and amortization | 81.8 | 100.3 |
Charge for early retirement of debt | 3.3 | 3.1 |
Deferred income taxes | (3.5) | (101.4) |
Impairment of Long-Lived Assets Held-for-use | 66.4 | 235.5 |
Loss on asset disposal | 0 | (49.2) |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | 15.9 | 0.1 |
Changes in certain assets and liabilities: | ||
Accounts receivable | 15.8 | 23.6 |
Inventories | 9.5 | 29.1 |
Prepaid taxes | 0 | 0.2 |
Taxes applicable to subsequent years | 61.4 | 61.5 |
Deferred regulatory costs, net | (6.5) | 19.5 |
Accounts payable | (46.4) | (10.2) |
Accrued taxes payable | (93.5) | (34.2) |
Accrued interest payable | 8.8 | 13.9 |
Security deposits | 1.1 | (0.6) |
Increase (Decrease) in Obligation, Pension and Other Postretirement Benefits | 3.8 | (2.2) |
Other | (6.9) | (0.5) |
Net cash provided by operating activities | 81.7 | 198.6 |
Cash flows from investing activities: | ||
Capital expenditures | (95.6) | (109.8) |
Proceeds from sale of business | 0 | 75.5 |
Insurance proceeds | 12.6 | 5.2 |
Purchase of intangible assets | (0.1) | (0.3) |
Decrease in restricted cash | 27 | 5.5 |
Other investing activities, net | 0.3 | 0.8 |
Net cash used in investing activities | (55.8) | (23.1) |
Cash flows from financing activities: | ||
Payments of Deferred Finance Costs | 0 | (8) |
Proceeds from Issuance of Long-term Debt | 0 | 442.8 |
Proceeds from Lines of Credit | 80 | 0 |
Retirement of long-term debt | (122.1) | (520.8) |
Proceeds from (Payments for) Other Financing Activities | 0 | (0.1) |
Net cash used in financing activities | (57.1) | (86.1) |
Cash and cash equivalents: | ||
Net change | (31.2) | 89.4 |
Balance at beginning of period | 54.6 | 32.4 |
Cash and cash equivalents at end of period | 23.4 | 121.8 |
Supplemental cash flow information: | ||
Interest paid, net of amounts capitalized | 69 | 61.1 |
Proceeds from Income Tax Refunds | 0 | 0.3 |
Non-cash financing and investing activities: | ||
Accruals for capital expenditures | 9.2 | 15.9 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Cash flows from operating activities: | ||
Net income | 3.6 | (467.8) |
Adjustments to reconcile net loss to net cash from operating activities: | ||
Depreciation and amortization | 68.2 | 95.2 |
Charge for early retirement of debt | 1.1 | 0.5 |
Deferred income taxes | 1.6 | (314.2) |
Impairment of Long-Lived Assets Held-for-use | 66.3 | 857.1 |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | 15.9 | 0.2 |
Changes in certain assets and liabilities: | ||
Accounts receivable | 20.5 | (11) |
Inventories | 10 | 29.4 |
Prepaid taxes | 0 | 2.7 |
Taxes applicable to subsequent years | 60 | 59.9 |
Deferred regulatory costs, net | (6.5) | 19.5 |
Accounts payable | (58.4) | (13.5) |
Accrued taxes payable | (83.9) | (43.2) |
Accrued interest payable | (1.5) | (3.3) |
Security deposits | 1.1 | (0.6) |
Increase (Decrease) in Obligation, Pension and Other Postretirement Benefits | 3.8 | (2.2) |
Other | (3.1) | 11.7 |
Net cash provided by operating activities | 98.7 | 220.4 |
Cash flows from investing activities: | ||
Capital expenditures | (82.4) | (98.3) |
Insurance proceeds | 12.5 | 5.6 |
Purchase of intangible assets | (0.1) | (0.3) |
Decrease in restricted cash | 27 | 5.5 |
Other investing activities, net | 0.3 | 0.9 |
Net cash used in investing activities | (42.7) | (86.6) |
Cash flows from financing activities: | ||
Payments of Deferred Finance Costs | 0 | (8) |
Repayments of Lines of Credit | (15) | 0 |
Proceeds from Issuance of Long-term Debt | 0 | 442.8 |
Proceeds from Lines of Credit | 30 | 0 |
Retirement of long-term debt | (103.3) | (445.3) |
Payments of Ordinary Dividends, Common Stock | (19) | 0 |
Issuance of short-term debt - related party | 30 | 5 |
Repayment of short-term debt - related party | (35) | (40) |
Proceeds from (Payments for) Other Financing Activities | 0 | (0.8) |
Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings | (19) | |
Proceeds from Contributions from Parent | 70 | 0 |
Net cash used in financing activities | (42.3) | (46.3) |
Cash and cash equivalents: | ||
Net change | 13.7 | 87.5 |
Balance at beginning of period | 1.6 | 5.4 |
Cash and cash equivalents at end of period | 15.3 | 92.9 |
Supplemental cash flow information: | ||
Interest paid, net of amounts capitalized | 22.3 | 16.3 |
Non-cash financing and investing activities: | ||
Accruals for capital expenditures | 7.7 | 10.1 |
Subsidiary of Common Parent [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Non-cash financing and investing activities: | ||
Equity Settlement of Related Party Payable | $ 0 | $ 7.5 |
Overview and Summary of Signifi
Overview and Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2017 | |
Significant Accounting Policies [Line Items] | |
Overview and Summary of Significant Accounting Policies | Overview and Summary of Significant Accounting Policies Description of Business DPL is a diversified regional energy company organized in 1985 under the laws of Ohio. DPL has two reportable segments: the Transmission and Distribution segment and the Generation segment. See Note 11 – Business Segments for more information relating to these reportable segments. The terms “we,” “us,” “our” and “ours” are used to refer to DPL and its subsidiaries. DPL is an indirectly wholly-owned subsidiary of AES. DP&L is a public utility incorporated in 1911 under the laws of Ohio. Beginning in 2001, Ohio law gave Ohio consumers the right to choose the electric generation supplier from whom they purchase retail generation service; however, retail transmission and distribution services are still regulated. DP&L has the exclusive right to provide such transmission and distribution services to approximately 520,000 customers located in West Central Ohio. Additionally, DP&L procures retail SSO electric service on behalf of residential, commercial, industrial and governmental customers in a 6,000 square mile area of West Central Ohio. As of September 30, 2017, DP&L owned undivided interests in multiple coal-fired and peaking electric generating facilities as well as numerous transmission facilities. As of October 1, 2017, the DP&L -owned generating facilities were transferred to AES Ohio Generation, an affiliate of DP&L and wholly-owned subsidiary of DPL , through an asset contribution agreement to a subsidiary that was merged into AES Ohio Generation. Also, Stuart Station Unit 1 was retired on October 1, 2017. DP&L sources 100% of the generation for its SSO customers through a competitive bid process. Principal industries located in DP&L’s service territory include automotive, food processing, paper, plastic, health care, data management, manufacturing and defense. DP&L's distribution sales reflect the general economic conditions, seasonal weather patterns, the proliferation of energy efficiency and distributed renewable resources and the market price of electricity. From January 1, 2016 through September 30, 2017, DP&L sold all of its energy and capacity into the wholesale market. DPL’s other significant subsidiaries include AES Ohio Generation and MVIC, our captive insurance company that provides insurance services to DPL and our subsidiaries. AES Ohio Generation, as of September 30, 2017, owned and operated certain peaking generating facilities, and, as of October 1, 2017, owns those facilities plus additional coal-fired and peaking facilities previously owned by DP&L. AES Ohio Generation sells all of its energy and capacity into the wholesale market. DPL owns all of the common stock of its subsidiaries. DPL also has a wholly-owned business trust, DPL Capital Trust II, formed for the purpose of issuing trust capital securities to investors. DP&L’s electric transmission and distribution businesses are subject to rate regulation by federal and state regulators. Accordingly, DP&L applies the accounting standards for regulated operations to its electric transmission and distribution businesses and records regulatory assets when incurred costs are expected to be recovered in future customer rates, and regulatory liabilities when current cost recoveries in customer rates relate to expected future costs. DPL and its subsidiaries employed 1,074 people as of September 30, 2017 , of which 1,065 were employed by DP&L . As part of Generation Separation on October 1, 2017, DP&L generation employees became employees of AES Ohio Generation. Approximately 61% of all DP&L and AES Ohio Generation employees are under a collective bargaining agreement that was set to expire on October 31, 2017 . The Company and the union representing these employees have agreed to extend the current agreement through January 31, 2018, while continuing to negotiate a new agreement. We are unable to determine what impact a new agreement may have on our operations. Financial Statement Presentation DPL’s Condensed Consolidated Financial Statements include the accounts of DPL and its wholly-owned subsidiaries except for DPL Capital Trust II, which is not consolidated, consistent with the provisions of GAAP. As of September 30, 2017, DP&L had undivided ownership interests in five coal-fired generating facilities, various peaking generating facilities and numerous transmission facilities, all of which are included in the financial statements at the lower of depreciated historical cost or fair value, if impaired. Operating revenues and expenses of these facilities are included on a pro rata basis in the corresponding lines in the Condensed Consolidated Statements of Operations. Certain immaterial amounts from prior periods have been reclassified to conform to the current period presentation. All material intercompany accounts and transactions are eliminated in consolidation. These financial statements have been prepared in accordance with GAAP for interim financial statements, the instructions of Form 10-Q and Regulation S-X. Accordingly, certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with GAAP have been omitted from this interim report. Therefore, our interim financial statements in this report should be read along with the annual financial statements included in our Form 10-K for the fiscal year ended December 31, 2016 . In the opinion of our management, the Condensed Consolidated Financial Statements presented in this report contain all adjustments necessary to fairly state our financial position as of September 30, 2017 ; our results of operations for the three and nine months ended September 30, 2017 and 2016 and our cash flows for the nine months ended September 30, 2017 and 2016 . Unless otherwise noted, all adjustments are normal and recurring in nature. Due to various factors, including, but not limited to, seasonal weather variations, the timing of outages of EGUs, changes in economic conditions involving commodity prices and competition, and other factors, interim results for the three and nine months ended September 30, 2017 may not be indicative of our results that will be realized for the full year ending December 31, 2017 . The preparation of financial statements in conformity with GAAP requires us to make estimates and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the revenues and expenses of the periods reported. Actual results could differ from these estimates. Significant items subject to such estimates and judgments include: the carrying value of property, plant and equipment; unbilled revenues; the valuation of derivative instruments; the valuation of insurance and claims liabilities; the valuation of allowances for receivables and deferred income taxes; regulatory assets and liabilities; liabilities recorded for income tax exposures; litigation; contingencies; the valuation of AROs; and assets and liabilities related to employee benefits. Accounting for Taxes Collected from Customers and Remitted to Governmental Authorities DP&L collects certain excise taxes levied by state or local governments from its customers. These taxes are accounted for on a net basis and not included in revenue. The amounts of such taxes collected for the three months ended September 30, 2017 and 2016 were $13.0 million and $14.4 million, respectively. The amounts of such taxes collected for the nine months ended September 30, 2017 and 2016 were $36.9 million and $38.9 million, respectively. New Accounting Pronouncements The following table provides a brief description of recent accounting pronouncements that could have a material impact on our consolidated financial statements: Accounting Standard Description Date of Adoption Effect on the financial statements upon adoption New Accounting Standards Adopted 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting The standard simplifies the following aspects of accounting for share-based payments awards: accounting for income taxes, classification of excess tax benefits on the statement of cash flows, forfeitures, statutory tax withholding requirements, classification of awards as either equity or liabilities and classification of employee taxes paid on statement of cash flows when an employer withholds shares for tax-withholding purposes. January 1, 2017. The primary effect of adoption was the recognition of excess tax benefits in our provision for income taxes in the period when the awards vest or are settled, rather than in paid-in-capital in the period when the excess tax benefits are realized. The adoption of this standard did not have a material impact on the consolidated financial statements. Accounting Standard Description Date of Adoption Effect on the financial statements upon adoption New Accounting Standards Issued But Not Yet Effective 2017-12, Derivatives and Hedging (Topic 815): Targeted improvements to Accounting for Hedging Activities The standard updates the hedge accounting model in ASC 815 to expand the ability to hedge risk, reduce complexity and ease certain documentation and assessment requirements. It also eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. Transition method: modified retrospective approach and prospective for presentation and disclosures. January 1, 2019. We are currently evaluating the impact of adopting the standard on our consolidated financial statements and if we would early adopt it. 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities This standard shortens the period of amortization of the premium on certain callable debt securities to the earliest call date. January 1, 2019. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2017-07, Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost This standard changes the presentation of non-service cost expense associated with defined benefit plans and updates the guidance so that only the service cost component will be eligible for capitalization. January 1, 2018. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Topic 610-20) This standard clarifies the scope and application of ASC 610-20 on the sale, transfer, and derecognition of nonfinancial assets and in substance nonfinancial assets to non-customers, including partial sales. It also clarifies that the derecognition of businesses is under scope of ASC 810. January 1, 2018. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. We will adopt the standard on January 1, 2018 and plan to use the modified retrospective approach. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business This standard provides guidance to assist the entities with evaluating when a set of transferred assets and activities is a business. January 1, 2018. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force) This standard requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. January 1, 2018. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory This standard requires that an entity recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. January 1, 2018. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments This standard updates the impairment model for financial assets measured at amortized cost to an expected loss model rather than an incurred loss model. It also allows for the presentation of credit losses on available-for-sale debt securities as an allowance rather than a write down. January 1, 2020. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. Accounting Standard Description Date of Adoption Effect on the financial statements upon adoption 2016-02, Leases (Topic 842) This standard requires lessees to recognize assets and liabilities for most leases but recognize expenses in a manner similar to today’s accounting. For lessors, the guidance modifies the lease classification criteria and the accounting for sales-type and direct financing leases. The guidance also eliminates today’s real estate-specific provisions. January 1, 2019. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. We intend to adopt the standard as of January 1, 2019. 2014-09, 2015-14, 2016-08, 2016-10, 2016-12, 2016-20, 2017-05, 2017-13 Revenue from Contracts with Customers (Topic 606) See discussion of the ASUs below. January 1, 2018. We will adopt the standard on January 1, 2018; see below for the evaluation of the impact of its adoption on the consolidated financial statements. ASU 2014-09 and its subsequent corresponding updates provide the principles an entity must apply to measure and recognize revenue. The core principle is that an entity shall recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Amendments to the standard were issued that provide further clarification of the principle and to provide certain transition expedients. The standard will replace most existing revenue recognition guidance in GAAP. In 2016, we established a cross-functional implementation team and are in the process of evaluating changes to our business processes, systems and controls to support recognition and disclosure under the new standard. At this time, we do not expect any significant impact on our financial systems or a material change to controls as a result of the implementation of the new revenue recognition standard. Given the complexity and diversity of our non-regulated arrangements, we are assessing the standard on a contract-by-contract basis and are in the process of completing the contract assessments by applying interpretations reached during 2017 on key issues. These issues include the application of the practical expedient for measuring progress towards satisfaction of a performance obligation, when variable quantities would be considered variable consideration versus an option to acquire additional goods and services and how to allocate variable consideration to one or more, but not all, distinct goods or services promised in a series of distinct goods or services that forms part of a single performance obligation. We will continue our work to complete the assessment of the full population of contracts and determine the overall impact to the consolidated financial statements. The standard requires retrospective application and allows either a full retrospective adoption in which all periods are presented under the new standard or a modified retrospective approach in which the cumulative effect of initially applying the guidance is recognized at the date of initial application. Although we had previously been working toward adopting the standard using the full retrospective method, given the limited situations where revenue recognized under ASC 606 differs from that recognized under ASC 605, we now expect to use the modified retrospective approach. However, we will continue to assess this conclusion which is dependent on the final impact to the financial statements. We are continuing to work with various non-authoritative industry groups, and monitoring the FASB and Transition Resource Group activity, as we finalize our accounting policy on these and other industry specific interpretative issues which is expected in 2017. |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Significant Accounting Policies [Line Items] | |
Overview and Summary of Significant Accounting Policies | Overview and Summary of Significant Accounting Policies Description of Business DP&L is a public utility incorporated in 1911 under the laws of Ohio. Beginning in 2001, Ohio law gave Ohio consumers the right to choose the electric generation supplier from whom they purchase retail generation service; however, retail transmission and distribution services are still regulated. DP&L has the exclusive right to provide such transmission and distribution services to approximately 520,000 customers located in West Central Ohio. Additionally, DP&L procures retail SSO electric service on behalf of residential, commercial, industrial and governmental customers in a 6,000 square mile area of West Central Ohio. As of September 30, 2017, DP&L owned undivided interests in multiple coal-fired and peaking electric generating facilities as well as numerous transmission facilities. As of October 1, 2017, the DP&L -owned generating facilities were transferred to AES Ohio Generation, an affiliate of DP&L and wholly-owned subsidiary of DPL , through an asset contribution agreement to a subsidiary that was merged into AES Ohio Generation. With the October 1, 2017 transfer of DP&L's generation assets to a separate DPL subsidiary, DP&L has discontinued its generation business operations. Also, Stuart Station Unit 1 was retired on October 1, 2017. DP&L sources 100% of the generation for its SSO customers through a competitive bid process. Principal industries located in DP&L’s service territory include automotive, food processing, paper, plastic, health care, data management, manufacturing and defense. DP&L's distribution sales reflect the general economic conditions, seasonal weather patterns, the proliferation of energy efficiency and distributed renewable resources and the market price of electricity. From January 1, 2016 through September 30, 2017, DP&L sold all of its energy and capacity into the wholesale market. DP&L is a subsidiary of DPL . Through September 30, 2017, DP&L had two reportable segments: the Transmission and Distribution (T&D) segment and the Generation segment. See Note 12 – Business Segments for more information relating to these reportable segments. DP&L’s electric transmission and distribution businesses are subject to rate regulation by federal and state regulators. Accordingly, DP&L applies the accounting standards for regulated operations to its electric transmission and distribution businesses and records regulatory assets when incurred costs are expected to be recovered in future customer rates, and regulatory liabilities when current cost recoveries in customer rates relate to expected future costs. DP&L employed 1,065 people as of September 30, 2017 . As part of Generation Separation on October 1, 2017, DP&L generation employees became employees of AES Ohio Generation, an affiliate of DP&L and wholly-owned subsidiary of DPL . Approximately 61% of DP&L and AES Ohio Generation employees are under a collective bargaining agreement that was set to expire on October 31, 2017 . The Company and the union representing these employees have agreed to extend the current agreement through January 31, 2018, while continuing to negotiate a new agreement. We are unable to determine what impact a new agreement may have on our operations. Financial Statement Presentation DP&L does not have any subsidiaries. As of September 30, 2017, DP&L had undivided ownership interests in five coal-fired generating facilities, various peaking generating facilities and numerous transmission facilities, all of which are included in the financial statements at the lower of depreciated historical cost or fair value, if impaired. Operating revenues and expenses of these facilities are included on a pro rata basis in the corresponding lines in the Condensed Statements of Operations. Certain immaterial amounts from prior periods have been reclassified to conform to the current period presentation. In the current period, we have reclassified the presentation of the December 2016 dividend payment which was originally recorded as a charge to Accumulated deficit and is now presented as a charge to Other paid-in capital. This reclassification was to prospectively correct an immaterial error. These financial statements have been prepared in accordance with GAAP for interim financial statements, the instructions of Form 10-Q and Regulation S-X. Accordingly, certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with GAAP have been omitted from this interim report. Therefore, our interim financial statements in this report should be read along with the annual financial statements included in our Form 10-K for the fiscal year ended December 31, 2016 . In the opinion of our management, the Condensed Financial Statements presented in this report contain all adjustments necessary to fairly state our financial position as of September 30, 2017 ; our results of operations for the three and nine months ended September 30, 2017 and 2016 and our cash flows for the nine months ended September 30, 2017 and 2016 . Unless otherwise noted, all adjustments are normal and recurring in nature. Due to various factors, including, but not limited to, seasonal weather variations, the timing of outages of EGUs, changes in economic conditions involving commodity prices and competition, and other factors, interim results for the three and nine months ended September 30, 2017 may not be indicative of our results that will be realized for the full year ending December 31, 2017 . The preparation of financial statements in conformity with GAAP requires us to make estimates and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the revenues and expenses of the periods reported. Actual results could differ from these estimates. Significant items subject to such estimates and judgments include: the carrying value of property, plant and equipment; unbilled revenues; the valuation of derivative instruments; the valuation of insurance and claims liabilities; the valuation of allowances for receivables and deferred income taxes; regulatory assets and liabilities; liabilities recorded for income tax exposures; litigation; contingencies; the valuation of AROs; and assets and liabilities related to employee benefits. Accounting for Taxes Collected from Customers and Remitted to Governmental Authorities DP&L collects certain excise taxes levied by state or local governments from its customers. These taxes are accounted for on a net basis and not included in revenue. The amounts of such taxes collected for the three months ended September 30, 2017 and 2016 were $13.0 million and $14.4 million, respectively. The amounts of such taxes collected for the nine months ended September 30, 2017 and 2016 were $36.9 million and $38.9 million, respectively. New Accounting Pronouncements The following table provides a brief description of recent accounting pronouncements that could have a material impact on our financial statements: Accounting Standard Description Date of Adoption Effect on the financial statements upon adoption New Accounting Standards Adopted 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting The standard simplifies the following aspects of accounting for share-based payments awards: accounting for income taxes, classification of excess tax benefits on the statement of cash flows, forfeitures, statutory tax withholding requirements, classification of awards as either equity or liabilities and classification of employee taxes paid on statement of cash flows when an employer withholds shares for tax-withholding purposes. January 1, 2017. The primary effect of adoption was the recognition of excess tax benefits in our provision for income taxes in the period when the awards vest or are settled, rather than in paid-in-capital in the period when the excess tax benefits are realized. The adoption of this standard did not have a material impact on the financial statements. Accounting Standard Description Date of Adoption Effect on the financial statements upon adoption New Accounting Standards Issued But Not Yet Effective 2017-12, Derivatives and Hedging (Topic 815): Targeted improvements to Accounting for Hedging Activities The standard updates the hedge accounting model in ASC 815 to expand the ability to hedge risk, reduce complexity and ease certain documentation and assessment requirements. It also eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. January 1, 2019. We are currently evaluating the impact of adopting the standard on our financial statements and if we would early adopt it. 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities This standard shortens the period of amortization of the premium on certain callable debt securities to the earliest call date. January 1, 2019. We are currently evaluating the impact of adopting the standard on our financial statements. 2017-07, Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost This standard changes the presentation of non-service cost expense associated with defined benefit plans and updates the guidance so that only the service cost component will be eligible for capitalization. January 1, 2018. We are currently evaluating the impact of adopting the standard on our financial statements. 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Topic 610-20) This standard clarifies the scope and application of ASC 610-20 on the sale, transfer, and derecognition of nonfinancial assets and in substance nonfinancial assets to non-customers, including partial sales. It also clarifies that the derecognition of businesses is under scope of ASC 810. January 1, 2018. We will adopt the standard on January 1, 2018; see below for the evaluation of the impact of its adoption on the financial statements. We will adopt the standard on January 1, 2018 and plan to use the modified retrospective approach. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business This standard provides guidance to assist the entities with evaluating when a set of transferred assets and activities is a business. January 1, 2018. We are currently evaluating the impact of adopting the standard on our financial statements. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force) This standard requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. January 1, 2018. We are currently evaluating the impact of adopting the standard on our financial statements. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory This standard requires that an entity recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. January 1, 2018. We are currently evaluating the impact of adopting the standard on our financial statements. Accounting Standard Description Date of Adoption Effect on the financial statements upon adoption 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments This standard updates the impairment model for financial assets measured at amortized cost to an expected loss model rather than an incurred loss model. It also allows for the presentation of credit losses on available-for-sale debt securities as an allowance rather than a write down. January 1, 2020. We are currently evaluating the impact of adopting the standard on our financial statements. 2016-02, Leases (Topic 842) This standard requires lessees to recognize assets and liabilities for most leases but recognize expenses in a manner similar to today’s accounting. For lessors, the guidance modifies the lease classification criteria and the accounting for sales-type and direct financing leases. The guidance also eliminates today’s real estate-specific provisions. January 1, 2019. We are currently evaluating the impact of adopting the standard on our financial statements. We intend to adopt the standard as of January 1, 2019. 2014-09, 2015-14, 2016-08, 2016-10, 2016-12, 2016-20, 2017-05, 2017-13 Revenue from Contracts with Customers (Topic 606) See discussion of the ASUs below. January 1, 2018. We will adopt the standard on January 1, 2018; see below for the evaluation of the impact of its adoption on the financial statements. ASU 2014-09 and its subsequent corresponding updates provide the principles an entity must apply to measure and recognize revenue. The core principle is that an entity shall recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Amendments to the standard were issued that provide further clarification of the principle and to provide certain transition expedients. The standard will replace most existing revenue recognition guidance in GAAP. In 2016, we established a cross-functional implementation team and are in the process of evaluating changes to our business processes, systems and controls to support recognition and disclosure under the new standard. At this time, we do not expect any significant impact on our financial systems or a material change to controls as a result of the implementation of the new revenue recognition standard. Given the complexity and diversity of our non-regulated arrangements, we are assessing the standard on a contract-by-contract basis and are in the process of completing the contract assessments by applying interpretations reached during 2017 on key issues. These issues include the application of the practical expedient for measuring progress towards satisfaction of a performance obligation, when variable quantities would be considered variable consideration versus an option to acquire additional goods and services and how to allocate variable consideration to one or more, but not all, distinct goods or services promised in a series of distinct goods or services that forms part of a single performance obligation. We will continue our work to complete the assessment of the full population of contracts and determine the overall impact to the consolidated financial statements. The standard requires retrospective application and allows either a full retrospective adoption in which all periods are presented under the new standard or a modified retrospective approach in which the cumulative effect of initially applying the guidance is recognized at the date of initial application. Although we had previously been working toward adopting the standard using the full retrospective method, given the limited situations where revenue recognized under ASC 606 differs from that recognized under ASC 605, we now expect to use the modified retrospective approach. However, we will continue to assess this conclusion which is dependent on the final impact to the financial statements. We are continuing to work with various non-authoritative industry groups, and monitoring the FASB and Transition Resource Group activity, as we finalize our accounting policy on these and other industry specific interpretative issues which is expected in 2017. |
Supplemental Financial Informat
Supplemental Financial Information | 9 Months Ended |
Sep. 30, 2017 | |
Supplemental Financial Information [Line Items] | |
Supplemental Financial Information | Supplemental Financial Information Accounts receivable and Inventories are as follows at September 30, 2017 and December 31, 2016 : September 30, December 31, $ in millions 2017 2016 Accounts receivable, net: Unbilled revenue $ 14.4 $ 43.0 Customer receivables 74.2 73.9 Amounts due from partners in jointly-owned plants 17.8 12.7 Other 6.1 6.7 Provision for uncollectible accounts (1.1 ) (1.2 ) Total accounts receivable, net $ 111.4 $ 135.1 Inventories, at average cost: Fuel and limestone $ 16.8 $ 38.9 Plant materials and supplies 10.9 36.6 Other 1.0 1.7 Total inventories, at average cost $ 28.7 $ 77.2 Accumulated Other Comprehensive Income / (Loss) The amounts reclassified out of Accumulated Other Comprehensive Income / (Loss) by component during the three and nine months ended September 30, 2017 and 2016 are as follows: Details about Accumulated Other Comprehensive Income / (Loss) components Affected line item in the Condensed Consolidated Statements of Operations Three months ended Nine months ended September 30, September 30, $ in millions 2017 2016 2017 2016 Gains and losses on Available-for-sale securities activity (Note 5): Other income $ — $ — $ (0.1 ) $ — Gains and losses on cash flow hedges (Note 6): Interest expense (0.2 ) (0.2 ) (0.8 ) (0.7 ) Revenue (4.2 ) (9.3 ) (12.5 ) (46.6 ) Purchased power 0.7 1.0 4.0 9.1 Total before income taxes (3.7 ) (8.5 ) (9.3 ) (38.2 ) Tax expense 1.3 3.0 3.3 13.8 Net of income taxes (2.4 ) (5.5 ) (6.0 ) (24.4 ) Amortization of defined benefit pension items (Note 9): Operation and maintenance — — 1.4 0.2 Tax benefit — — (0.5 ) (0.1 ) Net of income taxes — — 0.9 0.1 Total reclassifications for the period, net of income taxes $ (2.4 ) $ (5.5 ) $ (5.2 ) $ (24.3 ) The changes in the components of Accumulated Other Comprehensive Income / (Loss) during the nine months ended September 30, 2017 are as follows: $ in millions Gains / (losses) on available-for-sale securities Gains / (losses) on cash flow hedges Change in unfunded pension obligation Total Balance at January 1, 2017 $ 0.6 $ 13.1 $ (13.4 ) $ 0.3 Other comprehensive income / (loss) before reclassifications 0.4 12.1 (1.5 ) 11.0 Amounts reclassified from accumulated other comprehensive income / (loss) (0.1 ) (6.0 ) 0.9 (5.2 ) Net current period other comprehensive income / (loss) 0.3 6.1 (0.6 ) 5.8 Balance at September 30, 2017 $ 0.9 $ 19.2 $ (14.0 ) $ 6.1 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Supplemental Financial Information [Line Items] | |
Supplemental Financial Information | Supplemental Financial Information Accounts receivable and Inventories are as follows at September 30, 2017 and December 31, 2016 : September 30, December 31, $ in millions 2017 2016 Accounts receivable, net: Unbilled revenue $ 14.4 $ 43.0 Customer receivables 68.7 71.2 Amounts due from affiliates 2.3 2.9 Amounts due from partners in jointly-owned plants 17.8 12.7 Other 5.8 6.0 Provision for uncollectible accounts (1.1 ) (1.2 ) Total accounts receivable, net $ 107.9 $ 134.6 Inventories, at average cost: Fuel and limestone $ 16.8 $ 38.8 Plant materials and supplies 9.1 35.3 Other 1.0 1.7 Total inventories, at average cost $ 26.9 $ 75.8 Accumulated Other Comprehensive Income / (Loss) The amounts reclassified out of Accumulated Other Comprehensive Income / (Loss) by component during the three and nine months ended September 30, 2017 and 2016 are as follows: Details about Accumulated Other Comprehensive Income / (Loss) components Affected line item in the Condensed Consolidated Statements of Operations Three months ended Nine months ended September 30, September 30, $ in millions 2017 2016 2017 2016 Gains and losses on Available-for-sale securities activity (Note 5): Other income $ — $ — $ (0.1 ) $ — Gains and losses on cash flow hedges (Note 6): Interest expense (0.3 ) (0.3 ) (0.8 ) (0.9 ) Revenue (4.2 ) (9.3 ) (12.5 ) (46.5 ) Purchased power 0.7 1.0 4.0 9.1 Total before income taxes (3.8 ) (8.6 ) (9.3 ) (38.3 ) Tax expense 1.4 3.0 3.3 13.5 Net of income taxes (2.4 ) (5.6 ) (6.0 ) (24.8 ) Amortization of defined benefit pension items (Note 9): Operation and maintenance 1.1 1.1 5.9 3.3 Tax benefit (0.4 ) (0.4 ) (2.1 ) (1.6 ) Net of income taxes 0.7 0.7 3.8 1.7 Total reclassifications for the period, net of income taxes $ (1.7 ) $ (4.9 ) $ (2.3 ) $ (23.1 ) The changes in the components of Accumulated Other Comprehensive Income / (Loss) during the nine months ended September 30, 2017 are as follows: $ in millions Gains / (losses) on available-for-sale securities Gains / (losses) on cash flow hedges Change in unfunded pension obligation Total Balance at January 1, 2017 $ 0.7 $ (2.7 ) $ (40.5 ) $ (42.5 ) Other comprehensive income / (loss) before reclassifications 0.4 12.1 (1.6 ) 10.9 Amounts reclassified from accumulated other comprehensive income / (loss) (0.1 ) (6.0 ) 3.8 (2.3 ) Net current period other comprehensive income 0.3 6.1 2.2 8.6 Balance at September 30, 2017 $ 1.0 $ 3.4 $ (38.3 ) $ (33.9 ) |
Regulatory Matters (Notes)
Regulatory Matters (Notes) | 9 Months Ended |
Sep. 30, 2017 | |
Schedule of Regulatory Assets and Liabilities [Text Block] | Regulatory Matters In January 2017, DP&L filed a settlement in its ESP 3 case and filed an amended stipulation on March 13, 2017, which was subject to approval by the PUCO. A final decision was issued by the PUCO on October 20, 2017, modifying and adopting the amended stipulation and recommendation. The ESP establishes DP&L's framework for providing retail service on a going forward basis including rate structures, non-bypassable charges and other specific rate recovery true-up mechanisms. The signatory parties agreed to a six-year settlement that provides a framework for energy rates and defines components which include, but are not limited to, the following: • Bypassable standard offer energy rates for DP&L’s customers based on competitive bid auctions; • The establishment of a three-year non-bypassable Distribution Modernization Rider (DMR) designed to collect $105.0 million in revenue per year to pay debt obligations at DPL and DP&L and position DP&L to modernize and/or maintain its transmission and distribution infrastructure. With PUCO approval, DP&L has the option of extending the duration of the DMR for an additional two years; • The establishment of a non-bypassable Distribution Investment Rider to recover incremental distribution capital investments, the amount of which is to be established in a separate DP&L distribution rate case • A non-bypassable Reconciliation Rider permitting DP&L to defer, recover or credit the net proceeds from selling energy and capacity received as part of DP&L’s investment in OVEC and DP&L's OVEC related costs; • Implementation by DP&L of a Smart Grid Rider, Economic Development Rider, Economic Development Fund, Regulatory Compliance Rider and certain other new, or changes to existing, rates, riders and competitive retail market enhancements, with tariffs consistent with the order to be effective November 1, 2017; • A commitment to commence a sale process to sell our ownership interests in the Zimmer, Miami Fort and Conesville coal-fired generation plants, with all sales proceeds used to pay debt of DPL and DP&L ; and • Restrictions on DPL making dividend or tax sharing payments; and • Various other riders and competitive retail market enhancements. In connection with any sale or closure of our generation plants as contemplated by the ESP 3 settlement or otherwise, DPL and DP&L would expect to incur certain cash and non-cash charges, some or all of which could be material to the business and financial condition of DPL and DP&L . DP&L’s ESP 2 had been approved by the PUCO for the years 2014 - 2016, and permitted DP&L to collect a non-bypassable service stability rider equal to $110.0 million per year for each of those years and required DP&L to conduct competitive bid auctions to procure generation supply for SSO service. The Ohio Supreme Court in a June 2016 opinion stated that the PUCO’s approval of the ESP was reversed. In view of that reversal, DP&L filed a motion to withdraw its ESP 2 and implement rates consistent with those in effect prior to 2014. The PUCO approved DP&L’s withdrawal of ESP 2 and implementation plans. Those rates were in effect until rates approved as a result of DP&L’s pending ESP 3 are effective, November 1, 2017. In February 2017, several parties appealed the PUCO orders that approved both the withdrawal and the implementation plans to the Ohio Supreme Court. Those appeals are pending, and the outcome and potential financial impact of those appeals cannot be determined at this time. In July 2017, the Office of the Ohio Consumers Counsel filed a motion with the Ohio Supreme Court seeking to stay collection of the reinstated prior rates while the appeals are pending. That stay was denied by the Ohio Supreme Court in September 2017. DP&L is subject to a SEET threshold and is required to apply general rules for calculating earnings and comparing them to a comparable group to determine whether there were significantly excessive earnings during a given calendar year. The ESP 3 maintains DP&L’s return on equity SEET threshold at 12% and provides that DMR amounts are excluded from the SEET calculation. A stipulation was reached with the PUCO staff agreeing that DP&L did not exceed the SEET threshold for 2015, which was approved by the PUCO on September 6, 2017. On May 15, 2017, DP&L filed its application to demonstrate that it did not have significantly excessive earnings for calendar year 2016. That case is still pending. In future years, the SEET could have a material effect on results of operations, financial condition and cash flows. |
Subsidiaries [Member] | |
Schedule of Regulatory Assets and Liabilities [Text Block] | Regulatory Matters In January 2017, DP&L filed a settlement in its ESP 3 case and filed an amended stipulation on March 13, 2017, which was subject to approval by the PUCO. A final decision was issued by the PUCO on October 20, 2017, modifying and adopting the amended stipulation and recommendation. The ESP establishes DP&L's framework for providing retail service on a going forward basis including rate structures, non-bypassable charges and other specific rate recovery true-up mechanisms. The signatory parties agreed to a six-year settlement that provides a framework for energy rates and defines components which include, but are not limited to, the following: • Bypassable standard offer energy rates for DP&L’s customers based on competitive bid auctions; • The establishment of a three-year non-bypassable Distribution Modernization Rider (DMR) designed to collect $105.0 million in revenue per year to pay debt obligations at DPL and DP&L and position DP&L to modernize and/or maintain its transmission and distribution infrastructure. With PUCO approval, DP&L has the option of extending the duration of the DMR for an additional two years; • The establishment of a non-bypassable Distribution Investment Rider to recover incremental distribution capital investments, the amount of which is to be established in a separate DP&L distribution rate case • A non-bypassable Reconciliation Rider permitting DP&L to defer, recover or credit the net proceeds from selling energy and capacity received as part of DP&L’s investment in OVEC and DP&L's OVEC related costs; • Implementation by DP&L of a Smart Grid Rider, Economic Development Rider, Economic Development Fund, Regulatory Compliance Rider and certain other new, or changes to existing, rates, riders and competitive retail market enhancements, with tariffs consistent with the order to be effective November 1, 2017; • A commitment to commence a sale process to sell our ownership interests in the Zimmer, Miami Fort and Conesville coal-fired generation plants, with all sales proceeds used to pay debt of DPL and DP&L ; and • Restrictions on DPL making dividend or tax sharing payments; and • Various other riders and competitive retail market enhancements. In connection with any sale or closure of our generation plants as contemplated by the ESP 3 settlement or otherwise, DPL and DP&L would expect to incur certain cash and non-cash charges, some or all of which could be material to the business and financial condition of DPL and DP&L . DP&L’s ESP 2 had been approved by the PUCO for the years 2014 - 2016, and permitted DP&L to collect a non-bypassable service stability rider equal to $110.0 million per year for each of those years and required DP&L to conduct competitive bid auctions to procure generation supply for SSO service. The Ohio Supreme Court in a June 2016 opinion stated that the PUCO’s approval of the ESP was reversed. In view of that reversal, DP&L filed a motion to withdraw its ESP 2 and implement rates consistent with those in effect prior to 2014. The PUCO approved DP&L’s withdrawal of ESP 2 and implementation plans. Those rates were in effect until rates approved as a result of DP&L’s pending ESP 3 are effective, November 1, 2017. In February 2017, several parties appealed the PUCO orders that approved both the withdrawal and the implementation plans to the Ohio Supreme Court. Those appeals are pending, and the outcome and potential financial impact of those appeals cannot be determined at this time. In July 2017, the Office of the Ohio Consumers Counsel filed a motion with the Ohio Supreme Court seeking to stay collection of the reinstated prior rates while the appeals are pending. That stay was denied by the Ohio Supreme Court in September 2017. DP&L is subject to a SEET threshold and is required to apply general rules for calculating earnings and comparing them to a comparable group to determine whether there were significantly excessive earnings during a given calendar year. The ESP 3 maintains DP&L’s return on equity SEET threshold at 12% and provides that DMR amounts are excluded from the SEET calculation. A stipulation was reached with the PUCO staff agreeing that DP&L did not exceed the SEET threshold for 2015, which was approved by the PUCO on September 6, 2017. On May 15, 2017, DP&L filed its application to demonstrate that it did not have significantly excessive earnings for calendar year 2016. That case is still pending. In future years, the SEET could have a material effect on results of operations, financial condition and cash flows. |
Property, Plant and Equipment (
Property, Plant and Equipment (Notes) | 9 Months Ended |
Sep. 30, 2017 | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment Disclosure [Text Block] | Property, Plant and Equipment Coal-fired facilities As of September 30, 2017, DP&L and certain other Ohio utilities had undivided ownership interests in five coal-fired electric generating facilities and numerous transmission facilities. Certain expenses, primarily fuel costs for the generating units, are allocated to the owners based on their energy usage. The remaining expenses, investments in fuel inventory, plant materials and operating supplies, and capital additions are allocated to the owners in accordance with their respective ownership interests. DP&L’s share of the operations of such facilities is included within the corresponding line in the Condensed Consolidated Statements of Operations, and DP&L’s share of the investment in the facilities is included within Total net property, plant and equipment in the Condensed Consolidated Balance Sheets, except for amounts related to Miami Fort and Zimmer, which are classified as Held for Sale, as described below. Each co-owner provides their own financing for their share of the operations and capital expenditures of the jointly-owned station. DP&L’s undivided ownership interest in such facilities at September 30, 2017 , was as follows: DP&L Share DPL Carrying Value Ownership Summer Production Capacity Gross Plant Accumulated Construction Jointly-owned production units Conesville - Unit 4 16.5 129 $ 0.5 $ 0.5 $ 2.3 Killen - Unit 2 67.0 402 8.5 4.1 — Miami Fort - Units 7 and 8 (a) 36.0 368 31.3 3.3 5.1 Stuart - Units 2 through 4 35.0 606 0.7 0.7 — Zimmer - Unit 1 (a) 28.1 371 21.3 15.3 5.2 Transmission (at varying percentages) 43.2 11.5 — Total 1,876 $ 105.5 $ 35.4 $ 12.6 (a) DP&L has entered into an agreement to sell its interest in these units. See Note 13 – Assets and Liabilities Held for Sale for additional information. Each of the above generating units has SCR and FGD equipment installed. On January 10, 2017, a high-pressure feedwater heater shell failed on Unit 1 at the J.M. Stuart station. As a result, $6.4 million of net book value was written off, resulting in a $3.2 million loss on disposal, net of accrued insurance recoveries, which was recorded during the first quarter of 2017. This loss was reversed during the second quarter of 2017 due to additional accrued insurance recoveries. This unit was retired on October 1, 2017. Accordingly, the 202 MWs of capacity associated with Stuart Unit 1 have been removed from the table above. On March 17, 2017, the Board of Directors of DP&L approved the retirement of the DP&L operated and co-owned Stuart Station coal-fired and diesel-fired generating units and the DP&L operated and co-owned Killen Station coal-fired generating unit and combustion turbine on or before June 1, 2018, and the co-owners of these facilities agreed with DP&L to proceed with this plan of retirement. On April 21, 2017, DP&L and AES Ohio Generation entered into an agreement for the sale of DP&L’s undivided interests in Zimmer and Miami Fort for $50.0 million in cash and the assumption of certain liabilities, including environmental liabilities. The purchase price is subject to adjustment at closing based on the amount of certain inventories, pre-paid amounts, employment benefits, insurance premiums, property taxes and other costs. The sale is subject to approval by the FERC and is expected to close in the fourth quarter of 2017. See Note 13 – Assets and Liabilities Held for Sale for additional information. On October 1, 2017, Generation Separation was completed and the coal-fired electric generating facilities described above were transferred to AES Ohio Generation. The portion of the co-owned transmission facilities owned by DP&L remains owned by DP&L . AROs We recognize AROs in accordance with GAAP which requires legal obligations associated with the retirement of long-lived assets to be recognized at their fair value at the time those obligations are incurred. Upon initial recognition of a legal liability, costs are capitalized as part of the related long-lived asset and depreciated over the useful life of the related asset. Our legal obligations are associated with the retirement of our long-lived assets, consisting primarily of river intake and discharge structures, coal unloading facilities, loading docks, ice breakers and ash disposal facilities. Estimating the amount and timing of future expenditures of this type requires significant judgment. Management routinely updates these estimates as additional information becomes available. Changes in the Liability for Generation AROs $ in millions Balance at January 1, 2017 $ 138.8 Additions 0.1 Revisions to cash flow and timing estimates (4.8 ) Accretion expense 2.9 Settlements (0.1 ) Reclassified to Liabilities held for sale (4.4 ) Balance at September 30, 2017 $ 132.5 See Note 5 – Fair Value for further discussion on changes to our AROs. |
Subsidiaries [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment Disclosure [Text Block] | Property, Plant and Equipment Coal-fired facilities As of September 30, 2017, DP&L and certain other Ohio utilities had undivided ownership interests in five coal-fired electric generating facilities and numerous transmission facilities. Certain expenses, primarily fuel costs for the generating units, are allocated to the owners based on their energy usage. The remaining expenses, investments in fuel inventory, plant materials and operating supplies, and capital additions are allocated to the owners in accordance with their respective ownership interests. DP&L’s share of the operations of such facilities is included within the corresponding line in the Condensed Statements of Operations, and DP&L’s share of the investment in the facilities is included within Total net property, plant and equipment in the Condensed Balance Sheets, except for amounts related to Miami Fort and Zimmer, which are classified as Held for Sale, as described below. Each co-owner provides their own financing for their share of the operations and capital expenditures of the jointly-owned station. DP&L’s undivided ownership interest in such facilities at September 30, 2017 , was as follows: DP&L Share DP&L Carrying Value Ownership Summer Production Capacity Gross Plant Accumulated Construction Jointly-owned production units Conesville - Unit 4 16.5 129 $ 0.5 $ 0.5 $ 2.3 Killen - Unit 2 67.0 402 8.5 4.1 — Miami Fort - Units 7 and 8 (a) 36.0 368 31.3 3.3 5.1 Stuart - Units 2 through 4 35.0 606 0.7 0.7 — Zimmer - Unit 1 (a) 28.1 371 21.3 15.3 5.2 Transmission (at varying percentages) 98.6 66.9 — Total 1,876 $ 160.9 $ 90.8 $ 12.6 (a) DP&L has entered into an agreement to sell its interest in these units. See Note 13 – Assets and Liabilities Held for Sale for additional information. Each of the above generating units has SCR and FGD equipment installed. On January 10, 2017, a high-pressure feedwater heater shell failed on Unit 1 at the J.M. Stuart station. As a result, $6.4 million of net book value was written off, resulting in a $3.2 million loss on disposal, net of accrued insurance recoveries, which was recorded during the first quarter of 2017. This loss was reversed during the second quarter of 2017 due to additional accrued insurance recoveries. This unit was retired on October 1, 2017. Accordingly, the 202 MWs of capacity associated with Stuart Unit 1 have been removed from the table above. On March 17, 2017, the Board of Directors of DP&L approved the retirement of the DP&L operated and co-owned Stuart Station coal-fired and diesel-fired generating units and the DP&L operated and co-owned Killen Station coal-fired generating unit and combustion turbine on or before June 1, 2018, and the co-owners of these facilities agreed with DP&L to proceed with this plan of retirement. On April 21, 2017, DP&L and AES Ohio Generation entered into an agreement for the sale of DP&L’s undivided interests in Zimmer and Miami Fort for $50.0 million in cash and the assumption of certain liabilities, including environmental liabilities. The purchase price is subject to adjustment at closing based on the amount of certain inventories, pre-paid amounts, employment benefits, insurance premiums, property taxes and other costs. The sale is subject to approval by the FERC and is expected to close in the fourth quarter of 2017. On October 1, 2017, Generation Separation was completed and the coal-fired electric generating facilities described above were transferred to AES Ohio Generation. The portion of the co-owned transmission facilities owned by DP&L remains owned by DP&L . AROs We recognize AROs in accordance with GAAP which requires legal obligations associated with the retirement of long-lived assets to be recognized at their fair value at the time those obligations are incurred. Upon initial recognition of a legal liability, costs are capitalized as part of the related long-lived asset and depreciated over the useful life of the related asset. Our legal obligations are associated with the retirement of our long-lived assets, consisting primarily of river intake and discharge structures, coal unloading facilities, loading docks, ice breakers and ash disposal facilities. Estimating the amount and timing of future expenditures of this type requires significant judgment. Management routinely updates these estimates as additional information becomes available. Changes in the Liability for Generation AROs $ in millions Balance at January 1, 2017 $ 135.2 Additions 0.1 Revisions to cash flow and timing estimates (4.8 ) Accretion expense 4.0 Settlements (0.1 ) Reclassified to Liabilities held for sale (3.4 ) Balance at September 30, 2017 $ 131.0 See Note 5 – Fair Value for further discussion on changes to our AROs. |
Fair Value
Fair Value | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value | Fair Value The fair values of our financial instruments are based on published sources for pricing when possible. We rely on valuation models only when no other methods exist. The value of our financial instruments represents our best estimates of the fair value, which may not be the value realized in the future. The following table presents the fair value, carrying value and cost of our non-derivative instruments at September 30, 2017 and December 31, 2016 . Information about the fair value of our derivative instruments can be found in Note 6 – Derivative Instruments and Hedging Activities . September 30, 2017 December 31, 2016 $ in millions Cost Fair Value Cost Fair Value Assets Money market funds $ 0.4 $ 0.4 $ 0.4 $ 0.4 Equity securities 2.6 4.1 2.4 3.4 Debt securities 4.2 4.3 4.4 4.4 Hedge funds 0.1 0.1 — 0.1 Real estate — — 0.3 0.3 Tangible assets 0.1 0.1 0.1 0.1 Total Assets $ 7.4 $ 9.0 $ 7.6 $ 8.7 Carrying Value Fair Value Carrying Value Fair Value Liabilities Long-term debt (a) $ 1,741.6 $ 1,843.8 $ 1,858.0 $ 1,907.7 (a) Amounts exclude immaterial capital lease obligations These financial instruments are not subject to master netting agreements or collateral requirements and as such are presented in the Condensed Consolidated Balance Sheet at their gross fair value, except for Long-term debt, which is presented at amortized carrying value. Fair Value Hierarchy Fair value is defined as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. These inputs are then categorized as: • Level 1 (quoted prices in active markets for identical assets or liabilities); • Level 2 (observable inputs such as quoted prices for similar assets or liabilities or quoted prices in markets that are not active); or • Level 3 (unobservable inputs) reflecting management’s own assumptions about the inputs used in pricing the asset or liability). Valuations of assets and liabilities reflect the value of the instrument including the values associated with counterparty risk. We include our own credit risk and our counterparty’s credit risk in our calculation of fair value using global average default rates based on an annual study conducted by a large rating agency. We did not have any transfers of the fair values of our financial instruments between Level 1, Level 2 or Level 3 of the fair value hierarchy during the nine months ended September 30, 2017 or 2016 . Master Trust Assets DP&L established a Master Trust to hold assets that could be used for the benefit of employees participating in employee benefit plans and these assets are not used for general operating purposes. These assets are primarily comprised of open-ended mutual funds, which are valued using the net asset value per unit. These investments are recorded at fair value within Other deferred assets on the balance sheets and classified as available-for-sale. Any unrealized gains or losses are recorded in AOCI until the securities are sold. DPL had $1.5 million ( $0.9 million after tax) of unrealized gains and immaterial unrealized losses on the Master Trust assets in AOCI at September 30, 2017 and $1.0 million ( $0.6 million after tax) of unrealized gains and immaterial unrealized losses on the Master Trust assets in AOCI at December 31, 2016 . During the nine months ended September 30, 2017 , $0.8 million ( $0.6 million after tax) of various investments were sold to facilitate the distribution of benefits and the unrealized gains were reversed into earnings. An immaterial amount of unrealized gains are expected to be reversed to earnings as investments are sold over the next twelve months to facilitate the distribution of benefits. Long-term debt The fair value of debt is based on current public market prices for disclosure purposes only. Unrealized gains or losses are not recognized in the financial statements as long-term debt is presented at cost, net of unamortized premium or discount and unamortized deferred financing costs in the financial statements. The long-term debt amounts include the current portion payable in the next twelve months and have maturities that range from 2019 to 2061 . The fair value of assets and liabilities at September 30, 2017 and December 31, 2016 and the respective category within the fair value hierarchy for DPL was determined as follows: Assets and Liabilities at Fair Value Level 1 Level 2 Level 3 $ in millions Fair value at September 30, 2017 (a) Based on Quoted Prices in Active Markets Other Observable Inputs Unobservable Inputs Assets Master Trust assets Money market funds $ 0.4 $ 0.4 $ — $ — Equity securities 4.1 — 4.1 — Debt securities 4.3 — 4.3 — Hedge funds 0.1 — 0.1 — Tangible assets 0.1 — 0.1 — Total Master Trust assets 9.0 0.4 8.6 — Derivative Assets Forward power contracts 10.8 — 10.8 — Interest rate hedges 0.9 — 0.9 — Natural gas — — — — Total Derivative assets 11.7 — 11.7 — Total Assets $ 20.7 $ 0.4 $ 20.3 $ — Liabilities Derivative Liabilities Interest rate hedges $ — $ — $ — $ — FTRs 0.5 — — 0.5 Natural gas futures 0.8 0.8 — — Forward power contracts 8.1 — 8.1 — Total Derivative liabilities 9.4 0.8 8.1 0.5 Long-term debt (b) 1,843.8 — 1,825.9 17.9 Total Liabilities $ 1,853.2 $ 0.8 $ 1,834.0 $ 18.4 (a) Includes credit valuation adjustment (b) Amounts exclude immaterial capital lease obligations Assets and Liabilities at Fair Value Level 1 Level 2 Level 3 $ in millions Fair value at December 31, 2016 (a) Based on Quoted Prices in Active Markets Other Observable Inputs Unobservable Inputs Assets Master Trust assets Money market funds $ 0.4 $ 0.4 $ — $ — Equity securities 3.4 — 3.4 — Debt securities 4.4 — 4.4 — Hedge funds 0.1 — 0.1 — Real estate 0.3 — 0.3 — Tangible assets 0.1 — 0.1 — Total Master Trust assets 8.7 0.4 8.3 — Derivative assets Forward power contracts 19.5 — 19.5 — Interest rate hedges 1.2 — 1.2 — FTRs 0.1 — — 0.1 Total Derivative assets 20.8 — 20.7 0.1 Total Assets $ 29.5 $ 0.4 $ 29.0 $ 0.1 Liabilities Derivative liabilities Interest rate hedges $ 0.7 $ — $ 0.7 $ — Forward power contracts 28.5 — 26.0 2.5 Total Derivative liabilities 29.2 — 26.7 2.5 Long-term debt (b) 1,907.7 — 1,889.7 18.0 Total Liabilities $ 1,936.9 $ — $ 1,916.4 $ 20.5 (a) Includes credit valuation adjustment (b) Amounts exclude immaterial capital lease obligations Our financial instruments are valued using the market approach in the following categories: • Level 1 inputs are used for derivative contracts such as natural gas futures and for money market accounts that are considered cash equivalents. The fair value is determined by reference to quoted market prices and other relevant information generated by market transactions. • Level 2 inputs are used to value derivatives such as forward power contracts (which are traded on the OTC market but which are valued using prices on the NYMEX for similar contracts on the OTC market). Other Level 2 assets include open-ended mutual funds in the Master Trust, which are valued using the end of day NAV per unit. • Level 3 inputs such as FTRs are considered a Level 3 input because the monthly auctions are considered inactive. Other Level 3 inputs include the credit valuation adjustment on some of the forward power contracts and forward power contracts in less active markets. Our Level 3 inputs are immaterial to our derivative balances as a whole and as such no further disclosures are presented. Approximately 86% of the inputs to the fair value of our derivative instruments are from quoted market prices. Our long-term debt is fair valued for disclosure purposes only and most of the fair values are determined using quoted market prices in inactive markets. These fair value inputs are considered Level 2 in the fair value hierarchy. As the Wright-Patterson Air Force Base note is not publicly traded, fair value is assumed to equal carrying value. These fair value inputs are considered Level 3 in the fair value hierarchy as there are no observable inputs. Additional Level 3 disclosures are not presented since our long-term debt is not recorded at fair value. Non-recurring Fair Value Measurements We use the cost approach to determine the fair value of our AROs, which is estimated by discounting expected cash outflows to their present value at the initial recording of the liability. Cash outflows are based on the approximate future disposal cost as determined by market information, historical information or other management estimates. These inputs to the fair value of the AROs would be considered Level 3 inputs under the fair value hierarchy. As a result of changes in our estimates of costs to be incurred for our AROs, we decreased our AROs by $4.8 million in the first nine months of 2017. AROs for ash ponds, asbestos, ash landfills, river structures and underground storage tanks decreased by a net amount of $1.9 million and increased by a net amount of $3.0 million during the nine months ended September 30, 2017 and 2016 , respectively. In addition, there was a $4.4 million decrease in the ARO liability during the nine months ended September 30, 2017 related to AROs at Miami Fort and Zimmer being reclassified to Liabilities held for sale - current. On March 17, 2017, the Board of Directors of DP&L approved the retirement of the DP&L operated and co-owned Stuart Station coal-fired and diesel-fired generating units and the Killen Station coal-fired generating unit and combustion turbine (collectively, the “Facilities”) on or before June 1, 2018, and the co-owners of the Facilities agreed with DP&L to proceed with this plan of retirement. As a result, we performed a long-lived asset impairment analysis during the first quarter of 2017 and determined that the carrying amounts of the Facilities were not recoverable. See Note 14 – Fixed-asset Impairments . A ruling by the Supreme Court of Ohio on June 20, 2016, lower expectation of future capacity revenue resulting from the most recent PJM capacity auction and a higher anticipated level of environmental compliance costs resulting from third party studies were collectively determined to be an impairment indicator for Killen and certain DP&L peaking generating facilities. As a result, we performed a long-lived asset impairment analysis during the second quarter of 2016 and determined that the carrying amount of these assets were not recoverable. See Note 14 – Fixed-asset Impairments . When evaluating impairment of long-lived assets, we measure fair value using the applicable fair value measurement guidance. Impairment expense is measured by comparing the fair value at the evaluation date to the carrying amount. The following table summarizes Long-lived assets measured at fair value on a non-recurring basis during the periods and their level within the fair value hierarchy: Carrying Fair Value Gross Amount (b) Level 1 Level 2 Level 3 Loss $ in millions Nine months ended September 30, 2017 Assets Long-lived assets (a) Stuart $ 42.4 $ — $ — $ 3.3 $ 39.1 Killen $ 35.2 $ — $ — $ 7.9 $ 27.3 $ 66.4 Nine months ended September 30, 2016 Assets Long-lived assets (a) Killen $ 315.1 $ — $ — $ 84.3 $ 230.8 DP&L peaking facilities $ 9.9 $ — $ — $ 5.2 $ 4.7 $ 235.5 (a) See Note 14 – Fixed-asset Impairments for further information (b) Carrying amount at date of valuation The following summarizes the significant unobservable inputs used in the Level 3 measurement on a non-recurring basis during the nine months ended September 30, 2017: $ in millions Fair value Valuation technique Unobservable input Weighted average Long-lived assets held and used: Stuart $ 3.3 Discounted cash flow Pre-tax operating margin 10.0 % Weighted-average cost of capital 7.0 % Killen $ 7.9 Discounted cash flow Pre-tax operating margin 22.0 % Weighted-average cost of capital 7.0 % The following summarizes the significant unobservable inputs used in the Level 3 measurement on a non-recurring basis during the nine months ended September 30, 2016: $ in millions Fair value Valuation technique Unobservable input Weighted average Long-lived assets held and used: Killen $ 84.3 Discounted cash flow Annual revenue growth -11.0% to 13.0% (2.0%) Annual pre-tax operating margin -50.0% to 67.0% (6.0%) Weighted-average cost of capital 11.0% DP&L peaking facilities $ 5.2 Discounted cash flow Annual revenue growth -22.0% to 17.0% (-3.0%) Annual pre-tax operating margin -29.0% to 24.0% (-4.0%) Weighted-average cost of capital 7.0% |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value | Fair Value The fair values of our financial instruments are based on published sources for pricing when possible. We rely on valuation models only when no other methods exist. The value of our financial instruments represents our best estimates of the fair value, which may not be the value realized in the future. The following table presents the fair value, carrying value and cost of our non-derivative instruments at September 30, 2017 and December 31, 2016 . Information about the fair value of our derivative instruments can be found in Note 6 – Derivative Instruments and Hedging Activities . September 30, 2017 December 31, 2016 $ in millions Cost Fair Value Cost Fair Value Assets Money market funds $ 0.4 $ 0.4 $ 0.4 $ 0.4 Equity securities 2.6 4.1 2.4 3.4 Debt securities 4.2 4.3 4.4 4.4 Hedge funds 0.1 0.1 — 0.1 Real estate — — 0.3 0.3 Tangible assets 0.1 0.1 0.1 0.1 Total assets $ 7.4 $ 9.0 $ 7.6 $ 8.7 Carrying Value Fair Value Carrying Value Fair Value Liabilities Long-term debt (a) $ 647.7 $ 659.5 $ 749.0 $ 763.5 (a) Amounts exclude immaterial capital lease obligations These financial instruments are not subject to master netting agreements or collateral requirements and as such are presented in the Condensed Balance Sheet at their gross fair value, except for Long-term debt, which is presented at amortized carrying value. Fair Value Hierarchy Fair value is defined as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. These inputs are then categorized as: • Level 1 (quoted prices in active markets for identical assets or liabilities); • Level 2 (observable inputs such as quoted prices for similar assets or liabilities or quoted prices in markets that are not active); or • Level 3 (unobservable inputs) reflecting management’s own assumptions about the inputs used in pricing the asset or liability). Valuations of assets and liabilities reflect the value of the instrument including the values associated with counterparty risk. We include our own credit risk and our counterparty’s credit risk in our calculation of fair value using global average default rates based on an annual study conducted by a large rating agency. We did not have any transfers of the fair values of our financial instruments between Level 1, Level 2 or Level 3 of the fair value hierarchy during the nine months ended September 30, 2017 or 2016 . Master Trust Assets DP&L established a Master Trust to hold assets that could be used for the benefit of employees participating in employee benefit plans and these assets are not used for general operating purposes. These assets are primarily comprised of open-ended mutual funds, which are valued using the net asset value per unit. These investments are recorded at fair value within Other deferred assets on the balance sheets and classified as available-for-sale. Any unrealized gains or losses are recorded in AOCI until the securities are sold. DP&L had $1.5 million ( $1.0 million after tax) of unrealized gains and immaterial unrealized losses on the Master Trust assets in AOCI at September 30, 2017 and $1.1 million ( $0.7 million after tax) of unrealized gains and immaterial unrealized losses on the Master Trust assets in AOCI at December 31, 2016 . During the nine months ended September 30, 2017 , $0.8 million ( $0.6 million after tax) of various investments were sold to facilitate the distribution of benefits and the unrealized gains were reversed into earnings. An immaterial amount of unrealized gains are expected to be reversed to earnings as investments are sold over the next twelve months to facilitate the distribution of benefits. Long-term debt The fair value of debt is based on current public market prices for disclosure purposes only. Unrealized gains or losses are not recognized in the financial statements as long-term debt is presented at cost, net of unamortized premium or discount and unamortized deferred financing costs in the financial statements. The long-term debt amounts include the current portion payable in the next twelve months and have maturities that range from 2020 to 2061 . The fair value of assets and liabilities at September 30, 2017 and December 31, 2016 and the respective category within the fair value hierarchy for DP&L was determined as follows: Assets and Liabilities at Fair Value Level 1 Level 2 Level 3 $ in millions Fair value at September 30, 2017 (a) Based on Quoted Prices in Active Markets Other Observable Inputs Unobservable Inputs Assets Master Trust assets Money market funds $ 0.4 $ 0.4 $ — $ — Equity securities 4.1 — 4.1 — Debt securities 4.3 — 4.3 — Hedge funds 0.1 — 0.1 — Tangible assets 0.1 — 0.1 — Total Master Trust assets 9.0 0.4 8.6 — Derivative assets Natural gas futures 0.9 0.9 — — Interest rate hedges — — — — Forward power contracts 10.8 — 10.8 — Total derivative assets 11.7 0.9 10.8 — Total assets $ 20.7 $ 1.3 $ 19.4 $ — Liabilities Derivative liabilities FTRs $ 0.5 $ — $ — $ 0.5 Interest rate hedges — — — — Natural gas futures 0.8 0.8 — — Forward power contracts 8.1 — 8.1 — Total derivative liabilities 9.4 0.8 8.1 0.5 Long-term debt (b) 659.5 — 641.6 17.9 Total liabilities $ 668.9 $ 0.8 $ 649.7 $ 18.4 (a) Includes credit valuation adjustment (b) Amounts exclude immaterial capital lease obligations Assets and Liabilities at Fair Value Level 1 Level 2 Level 3 $ in millions Fair value at December 31, 2016 (a) Based on Quoted Prices in Active Markets Other Observable Inputs Unobservable Inputs Assets Master Trust assets Money market funds $ 0.4 $ 0.4 $ — $ — Equity securities 3.4 — 3.4 — Debt securities 4.4 — 4.4 — Hedge funds 0.1 — 0.1 — Real estate 0.3 — 0.3 — Tangible assets 0.1 — 0.1 — Total Master Trust assets 8.7 0.4 8.3 — Derivative assets FTRs 0.1 — — 0.1 Interest rate hedges 1.2 — 1.2 — Forward power contracts 19.5 — 19.5 — Total Derivative assets 20.8 — 20.7 0.1 Total assets $ 29.5 $ 0.4 $ 29.0 $ 0.1 Liabilities Derivative liabilities Interest rate hedges $ 0.7 $ — $ 0.7 $ — Forward power contracts 28.5 — 26.0 2.5 Total Derivative liabilities 29.2 — 26.7 2.5 Long-term debt (b) 763.5 — 745.5 18.0 Total liabilities $ 792.7 $ — $ 772.2 $ 20.5 (a) Includes credit valuation adjustment (b) Amounts exclude immaterial capital lease obligations Our financial instruments are valued using the market approach in the following categories: • Level 1 inputs are used for derivative contracts such as natural gas futures and for money market accounts that are considered cash equivalents. The fair value is determined by reference to quoted market prices and other relevant information generated by market transactions. • Level 2 inputs are used to value derivatives such as forward power contracts (which are traded on the OTC market but which are valued using prices on the NYMEX for similar contracts on the OTC market). Other Level 2 assets include open-ended mutual funds in the Master Trust, which are valued using the end of day NAV per unit. • Level 3 inputs such as FTRs are considered a Level 3 input because the monthly auctions are considered inactive. Other Level 3 inputs include the credit valuation adjustment on some of the forward power contracts and forward power contracts in less active markets. Our Level 3 inputs are immaterial to our derivative balances as a whole and as such no further disclosures are presented. Approximately 86% of the inputs to the fair value of our derivative instruments are from quoted market prices. Our long-term debt is fair valued for disclosure purposes only and most of the fair values are determined using quoted market prices in inactive markets. These fair value inputs are considered Level 2 in the fair value hierarchy. As the Wright-Patterson Air Force Base note is not publicly traded, fair value is assumed to equal carrying value. These fair value inputs are considered Level 3 in the fair value hierarchy as there are no observable inputs. Additional Level 3 disclosures are not presented since our long-term debt is not recorded at fair value. Non-recurring Fair Value Measurements We use the cost approach to determine the fair value of our AROs, which is estimated by discounting expected cash outflows to their present value at the initial recording of the liability. Cash outflows are based on the approximate future disposal cost as determined by market information, historical information or other management estimates. These inputs to the fair value of the AROs would be considered Level 3 inputs under the fair value hierarchy. As a result of changes in our estimates of costs to be incurred for our AROs, we decreased our AROs by $4.8 million in the first nine months of 2017. AROs for ash ponds, asbestos, ash landfills, river structures and underground storage tanks decreased by a net amount of $0.8 million and increased by a net amount of $3.0 million during the nine months ended September 30, 2017 and 2016 , respectively. In addition, there was a $3.4 million decrease in the ARO liability during the nine months ended September 30, 2017 related to AROs at Miami Fort and Zimmer being reclassified to Liabilities held for sale - current. On March 17, 2017, the Board of Directors of DP&L approved the retirement of the DP&L operated and co-owned Stuart Station coal-fired and diesel-fired generating units and the Killen Station coal-fired generating unit and combustion turbine (collectively, the “Facilities”) on or before June 1, 2018, and the co-owners of the Facilities agreed with DP&L to proceed with this plan of retirement. As a result, we performed a long-lived asset impairment analysis during the first quarter of 2017 and determined that the carrying amounts of the Facilities were not recoverable. See Note 14 – Fixed-asset Impairments . A ruling by the Supreme Court of Ohio on June 20, 2016, lower expectation of future capacity revenue resulting from the most recent PJM capacity auction and a higher anticipated level of environmental compliance costs resulting from third party studies were collectively determined to be an impairment indicator for the Stuart, Killen and Zimmer EGUs. As a result, we performed a long-lived asset impairment analysis during the second quarter of 2016 and determined that the carrying amount of these assets were not recoverable. See Note 14 – Fixed-asset Impairments . When evaluating impairment of long-lived assets, we measure fair value using the applicable fair value measurement guidance. Impairment expense is measured by comparing the fair value at the evaluation date to the carrying amount. The following table summarizes Long-lived assets measured at fair value on a non-recurring basis during the periods and their level within the fair value hierarchy: Carrying Fair Value Gross Amount (b) Level 1 Level 2 Level 3 Loss $ in millions Nine months ended September 30, 2017 Assets Long-lived assets (a) Stuart $ 42.3 $ — $ — $ 3.3 $ 39.0 Killen $ 35.2 $ — $ — $ 7.9 $ 27.3 $ 66.3 Nine months ended September 30, 2016 Assets Long-lived assets (a) Stuart $ 456.4 $ — $ — $ 164.4 $ 292.0 Killen $ 330.5 $ — $ — $ 84.3 $ 246.2 Zimmer $ 429.9 $ — $ — $ 111.0 $ 318.9 $ 857.1 (a) See Note 14 – Fixed-asset Impairments for further information (b) Carrying amount at date of valuation The following summarizes the significant unobservable inputs used in the Level 3 measurement on a non-recurring basis during the nine months ended September 30, 2017: $ in millions Fair value Valuation technique Unobservable input Weighted average Long-lived assets held and used: Stuart $ 3.3 Discounted cash flow Pre-tax operating margin 10.0 % Weighted-average cost of capital 7.0 % Killen $ 7.9 Discounted cash flow Pre-tax operating margin 22.0 % Weighted-average cost of capital 7.0 % The following summarizes the significant unobservable inputs used in the Level 3 measurement on a non-recurring basis during the nine months ended September 30, 2016: $ in millions Fair value Valuation technique Unobservable input Weighted average Long-lived assets held and used: Stuart $ 164.4 Discounted cash flow Annual revenue growth -9.0% to 10.0% (2.0%) Annual pre-tax operating margin -29.0% to 52.0% (5.0%) Weighted-average cost of capital 9.0% Killen $ 84.3 Discounted cash flow Annual revenue growth -11.0% to 13.0% (2.0%) Annual pre-tax operating margin -50.0% to 67.0% (6.0%) Weighted-average cost of capital 11.0% Zimmer $ 111.0 Discounted cash flow Annual revenue growth -14.0% to 13.0% (1.0%) Annual pre-tax operating margin -46.0% to 80.0% (4.0%) Weighted-average cost of capital 9.0% |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 9 Months Ended |
Sep. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
Derivative Instruments and Hedging Activities | Derivative Instruments and Hedging Activities In the normal course of business, DPL enters into various financial instruments, including derivative financial instruments. We use derivatives principally to manage the risk of changes in market prices for commodities and interest rate risk associated with our long-term debt. The derivatives that we use to economically hedge these risks are governed by our risk management policies for forward and futures contracts. Our net positions are continually assessed within our structured hedging programs to determine whether new or offsetting transactions are required. The objective of the hedging program is to mitigate financial risks while ensuring that we have adequate resources to meet our requirements. We monitor and value derivative positions monthly as part of our risk management processes. We use published sources for pricing, when possible, to mark positions to market. All of our derivative instruments are used for risk management purposes and are designated as cash flow hedges if they qualify under FASC 815 for accounting purposes. At September 30, 2017 , DPL's derivative instruments were as follows: Commodity Accounting Treatment (a) Unit Purchases Sales Net Purchases/ (Sales) FTRs Not designated MWh 3.4 — 3.4 Natural gas futures Not designated Dths 6,625.0 (390.0 ) 6,235.0 Forward power contracts Designated MWh 649.0 (2,478.9 ) (1,829.9 ) Forward power contracts Not designated MWh 1,082.8 (1,060.0 ) 22.8 Interest rate swaps Designated USD $ 200,000.0 $ — $ 200,000.0 (a) Refers to whether the derivative instruments have been designated as a cash flow hedge. At December 31, 2016 , DPL's derivative instruments were as follows: Commodity Accounting Treatment (a) Unit Purchases Sales Net Purchases/ (Sales) FTRs Not designated MWh 2.3 — 2.3 Natural gas futures Not designated Dths 1,590.0 — 1,590.0 Forward power contracts Designated MWh 342.9 (9,974.5 ) (9,631.6 ) Forward power contracts Not designated MWh 2,568.3 (2,020.9 ) 547.4 Interest rate swaps Designated USD $ 200,000.0 $ — $ 200,000.0 (a) Refers to whether the derivative instruments have been designated as a cash flow hedge. Cash Flow Hedges As part of our risk management processes, we identify the relationships between hedging instruments and hedged items, as well as the risk management objective and strategy for undertaking various hedge transactions. The fair values of cash flow hedges determined by current public market prices will continue to fluctuate with changes in market prices up to contract expiration. The effective portion of the hedging transaction is recognized in AOCI and transferred to earnings using specific identification of each contract when the forecasted hedged transaction takes place or when the forecasted hedged transaction is probable of not occurring. The ineffective portion of the cash flow hedge is recognized in earnings in the current period. All risk components were taken into account to determine the hedge effectiveness of the cash flow hedges. We enter into forward power contracts to manage commodity price risk exposure related to our generation of electricity. We do not hedge all commodity price risk. We reclassify gains and losses on forward power contracts from AOCI into earnings in those periods in which the contracts settle. We have two interest rate swaps to hedge the variable interest on our $200.0 million variable interest rate tax-exempt First Mortgage Bonds. The interest rate swaps have a combined notional amount of $200.0 million and will settle monthly based on a one month LIBOR. We use the income approach to value the swaps, which consists of forecasting future cash flows based on contractual notional amounts and applicable and available market data as of the valuation date. The most common market data inputs used in the income approach include volatilities, spot and forward benchmark interest rates (LIBOR). Forward rates with the same tenor as the derivative instrument being valued are generally obtained from published sources, with these forward rates being assessed quarterly at a portfolio-level for reasonableness versus comparable published rates. We reclassify gains and losses on the swaps out of AOCI and into earnings in those periods in which hedged interest payments occur. We had previously entered into interest rate derivative contracts to manage interest rate exposure related to anticipated borrowings of fixed-rate debt. These interest rate derivative contracts were settled in the third quarter of 2013 and we continue to amortize amounts out of AOCI into interest expense. The following tables provide information concerning gains or losses recognized in AOCI for the cash flow hedges for the three and nine months ended September 30, 2017 and 2016 : Three months ended Three months ended September 30, 2017 September 30, 2016 Interest Interest $ in millions (net of tax) Power Rate Hedge Power Rate Hedge Beginning accumulated derivative gains in AOCI $ 3.0 $ 17.2 $ 3.4 $ 17.3 Net gains associated with current period hedging transactions 1.3 0.1 9.5 — Net gains / (losses) reclassified to earnings Interest expense — (0.2 ) — (0.1 ) Revenues (2.7 ) — (6.0 ) — Purchased power 0.5 — 0.6 — Ending accumulated derivative gains in AOCI $ 2.1 $ 17.1 $ 7.5 $ 17.2 Nine months ended Nine months ended September 30, 2017 September 30, 2016 Interest Interest $ in millions (net of tax) Power Rate Hedge Power Rate Hedge Beginning accumulated derivative gains / (losses) in AOCI $ (4.3 ) $ 17.4 $ 9.2 $ 17.5 Net gains associated with current period hedging transactions 11.9 0.2 22.4 — Net gains / (losses) reclassified to earnings Interest expense — (0.5 ) — (0.3 ) Revenues (8.1 ) — (30.0 ) — Purchased power 2.6 — 5.9 — Ending accumulated derivative gains in AOCI $ 2.1 $ 17.1 $ 7.5 $ 17.2 Portion expected to be reclassified to earnings in the next twelve months (a) $ 1.5 $ (0.4 ) Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) 6 37 (a) The actual amounts that we reclassify from AOCI to earnings related to power can differ from the estimate above due to market price changes. Net gains or losses associated with the ineffective portion of the hedging transactions were immaterial in the periods presented. Derivatives not designated as hedges Certain derivative contracts are entered into on a regular basis as part of our risk management program but do not qualify for hedge accounting or the normal purchase and normal sales scope exceptions under FASC 815. Accordingly, such contracts are recorded at fair value with changes in the fair value charged or credited to the Condensed Consolidated Statements of Operations in the period in which the change occurred. This is commonly referred to as “MTM accounting.” Contracts we enter into as part of our risk management program may be settled financially, by physical delivery, or net settled with the counterparty. FTRs, natural gas futures, and certain forward power contracts are currently marked to market. Certain qualifying derivative instruments have been designated as normal purchase or normal sale contracts, as provided under GAAP. Derivative contracts that have been designated as normal purchases or normal sales under GAAP are not subject to MTM accounting and are recognized in the Condensed Consolidated Statements of Operations on an accrual basis. Financial Statement Effect The following tables present the amount and classification within the Condensed Consolidated Statements of Operations of the gains and losses on DPL’s derivatives not designated as hedging instruments for the three and nine months ended September 30, 2017 and 2016 : For the three months ended September 30, 2017 $ in millions FTRs Power Natural Gas Total Change in unrealized gain / (loss) $ 0.2 $ (1.4 ) $ — $ (1.2 ) Realized gain / (loss) 0.2 1.9 (0.2 ) 1.9 Total $ 0.4 $ 0.5 $ (0.2 ) $ 0.7 Recorded in Income Statement: gain / (loss) Revenues $ — $ 3.3 $ — $ 3.3 Purchased power 0.4 (2.8 ) (0.2 ) (2.6 ) Total $ 0.4 $ 0.5 $ (0.2 ) $ 0.7 For the three months ended September 30, 2016 $ in millions FTRs Power Natural Gas Total Change in unrealized gain / (loss) $ — $ 1.2 $ (0.3 ) $ 0.9 Realized gain / (loss) (0.1 ) (2.4 ) 0.2 (2.3 ) Total $ (0.1 ) $ (1.2 ) $ (0.1 ) $ (1.4 ) Recorded in Income Statement: gain / (loss) Revenues $ — $ (10.4 ) $ — $ (10.4 ) Purchased power (0.1 ) 9.2 (0.1 ) 9.0 Total $ (0.1 ) $ (1.2 ) $ (0.1 ) $ (1.4 ) For the nine months ended September 30, 2017 $ in millions FTRs Power Natural Gas Total Change in unrealized gain / (loss) $ (0.5 ) $ 2.3 $ (0.8 ) $ 1.0 Realized gain / (loss) 0.5 (1.4 ) (0.3 ) (1.2 ) Total $ — $ 0.9 $ (1.1 ) $ (0.2 ) Recorded in Income Statement: gain / (loss) Revenues $ — $ (2.6 ) $ — $ (2.6 ) Purchased power — 3.5 (1.1 ) 2.4 Total $ — $ 0.9 $ (1.1 ) $ (0.2 ) For the nine months ended September 30, 2016 $ in millions FTRs Power Natural Gas Total Change in unrealized gain / (loss) $ 0.4 $ 2.3 $ — $ 2.7 Realized gain / (loss) (0.4 ) (5.3 ) 0.7 (5.0 ) Total $ — $ (3.0 ) $ 0.7 $ (2.3 ) Recorded in Income Statement: gain / (loss) Revenues $ — $ (13.1 ) $ — $ (13.1 ) Purchased power — 10.1 0.7 10.8 Total $ — $ (3.0 ) $ 0.7 $ (2.3 ) DPL has elected not to offset derivative assets and liabilities and not to offset net derivative positions against the right to reclaim cash collateral pledged (an asset) or the obligation to return cash collateral received (a liability) under derivative agreements. The following tables summarize the derivative positions presented in the balance sheet where a right of offset exists under these arrangements and related cash collateral received or pledged, as well as the fair value, balance sheet classification and hedging designation of DPL’s derivative instruments: Fair Values of Derivative Instruments at September 30, 2017 Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets $ in millions Hedging Designation Gross Fair Value as presented in the Consolidated Balance Sheets (a) Financial Instruments with Same Counterparty in Offsetting Position Cash Collateral Net Fair Value Assets Short-term derivative positions (presented in Other prepayments and current assets) Forward power contracts Designated $ 7.0 $ (4.6 ) $ — $ 2.4 Forward power contracts Not designated 3.5 (2.7 ) — 0.8 Natural gas futures Not designated — — — — Long-term derivative positions (presented in Other deferred assets) Interest rate swap Designated 0.9 — — 0.9 Natural gas futures Not designated — — — — Forward power contracts Not designated 0.3 — — 0.3 Total assets $ 11.7 $ (7.3 ) $ — $ 4.4 Liabilities Short-term derivative positions (presented in Other current liabilities) Forward power contracts Designated $ 4.6 $ (4.6 ) $ — $ — Interest rate swap Designated — — — — Forward power contracts Not designated 3.5 (2.7 ) (0.7 ) 0.1 Natural gas futures Not designated 0.8 — (0.8 ) — FTRs Not designated 0.5 — — 0.5 Long-term derivative positions (presented in Other deferred credits) Natural gas futures Not designated — — — — Total liabilities $ 9.4 $ (7.3 ) $ (1.5 ) $ 0.6 (a) includes credit valuation adjustment Fair Values of Derivative Instruments at December 31, 2016 Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets $ in millions Hedging Designation Gross Fair Value as presented in the Consolidated Balance Sheets (a) Financial Instruments with Same Counterparty in Offsetting Position Cash Collateral Net Fair Value Assets Short-term derivative positions (presented in Other prepayments and current assets) Forward power contracts Designated $ 11.0 $ (10.5 ) $ — $ 0.5 Forward power contracts Not designated 6.0 (4.7 ) — 1.3 FTRs Not designated 0.1 — — 0.1 Long-term derivative positions (presented in Other deferred assets) Interest rate swaps Designated 1.2 — — 1.2 Forward power contracts Designated 0.6 (0.6 ) — — Forward power contracts Not designated 1.9 (1.0 ) — 0.9 Total assets $ 20.8 $ (16.8 ) $ — $ 4.0 Liabilities Short-term derivative positions (presented in Other current liabilities) Interest rate swaps Designated $ 0.7 $ — $ — $ 0.7 Forward power contracts Designated 16.4 (10.5 ) (5.5 ) 0.4 Forward power contracts Not designated 7.7 (4.7 ) — 3.0 Long-term derivative positions (presented in Other deferred credits) Forward power contracts Designated 2.4 (0.6 ) (0.8 ) 1.0 Forward power contracts Not designated 2.0 (1.0 ) — 1.0 Total liabilities $ 29.2 $ (16.8 ) $ (6.3 ) $ 6.1 (a) includes credit valuation adjustment Credit risk-related contingent features Certain of our OTC commodity derivative contracts are under master netting agreements that contain provisions that require us to post collateral if our credit ratings drop below certain thresholds. We have crossed this threshold and our counterparties could request that we post collateral for our net liability position with them. As of the date of the filing of this report, we have not had to post collateral with any of these counterparties. The aggregate fair value of DPL’s commodity derivative instruments that were in a MTM loss position at September 30, 2017 was $9.4 million . $1.5 million of collateral was posted directly with third parties and in a broker margin account which offsets our loss positions on the forward contracts. This liability position is further offset by the asset position of counterparties with master netting agreements of $7.3 million . Since our long-term debt is below investment grade, we could have to post collateral for the remaining $0.6 million . |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
Derivative Instruments and Hedging Activities | Derivative Instruments and Hedging Activities In the normal course of business, DP&L enters into various financial instruments, including derivative financial instruments. We use derivatives principally to manage the risk of changes in market prices for commodities and interest rate risk associated with our long-term debt. The derivatives that we use to economically hedge these risks are governed by our risk management policies for forward and futures contracts. Our net positions are continually assessed within our structured hedging programs to determine whether new or offsetting transactions are required. The objective of the hedging program is to mitigate financial risks while ensuring that we have adequate resources to meet our requirements. We monitor and value derivative positions monthly as part of our risk management processes. We use published sources for pricing, when possible, to mark positions to market. All of our derivative instruments are used for risk management purposes and are designated as cash flow hedges if they qualify under FASC 815 for accounting purposes. At September 30, 2017 , DP&L's derivative instruments were as follows: Commodity Accounting Treatment (a) Unit Purchases Sales Net Purchases/ (Sales) FTRs Not designated MWh 3.4 — 3.4 Natural gas futures Not designated Dths 6,625.0 (390.0 ) 6,235.0 Forward power contracts Designated MWh 649.0 (2,478.9 ) (1,829.9 ) Forward power contracts Not designated MWh 1,082.8 (1,060.0 ) 22.8 Interest rate swaps Designated USD $ 200,000.0 $ — $ 200,000.0 (a) Refers to whether the derivative instruments have been designated as a cash flow hedge. At December 31, 2016 , DP&L's derivative instruments were as follows: Commodity Accounting Treatment (a) Unit Purchases Sales Net Purchases/ (Sales) FTRs Not designated MWh 2.3 — 2.3 Natural gas futures Not designated Dths 1,590.0 — 1,590.0 Forward power contracts Designated MWh 342.9 (9,974.5 ) (9,631.6 ) Forward power contracts Not designated MWh 2,568.3 (2,037.5 ) 530.8 Interest rate swaps Designated USD $ 200,000.0 $ — $ 200,000.0 (a) Refers to whether the derivative instruments have been designated as a cash flow hedge. Cash Flow Hedges As part of our risk management processes, we identify the relationships between hedging instruments and hedged items, as well as the risk management objective and strategy for undertaking various hedge transactions. The fair values of cash flow hedges determined by current public market prices will continue to fluctuate with changes in market prices up to contract expiration. The effective portion of the hedging transaction is recognized in AOCI and transferred to earnings using specific identification of each contract when the forecasted hedged transaction takes place or when the forecasted hedged transaction is probable of not occurring. The ineffective portion of the cash flow hedge is recognized in earnings in the current period. All risk components were taken into account to determine the hedge effectiveness of the cash flow hedges. We enter into forward power contracts to manage commodity price risk exposure related to our generation of electricity. We do not hedge all commodity price risk. We reclassify gains and losses on forward power contracts from AOCI into earnings in those periods in which the contracts settle. We have two interest rate swaps to hedge the variable interest on our $200.0 million variable interest rate tax-exempt First Mortgage Bonds. The interest rate swaps have a combined notional amount of $200.0 million and will settle monthly based on a one month LIBOR. We use the income approach to value the swaps, which consists of forecasting future cash flows based on contractual notional amounts and applicable and available market data as of the valuation date. The most common market data inputs used in the income approach include volatilities, spot and forward benchmark interest rates (LIBOR). Forward rates with the same tenor as the derivative instrument being valued are generally obtained from published sources, with these forward rates being assessed quarterly at a portfolio-level for reasonableness versus comparable published rates. We reclassify gains and losses on the swaps out of AOCI and into earnings in those periods in which hedged interest payments occur. The following tables provide information concerning gains or losses recognized in AOCI for the cash flow hedges for the three and nine months ended September 30, 2017 and 2016 : Three months ended Three months ended September 30, 2017 September 30, 2016 Interest Interest $ in millions (net of tax) Power Rate Hedge Power Rate Hedge Beginning accumulated derivative gains in AOCI $ 3.0 $ 1.4 $ 3.4 $ 1.6 Net gains associated with current period hedging transactions 1.3 0.1 9.5 — Net gains / (losses) reclassified to earnings Interest expense — (0.2 ) — (0.2 ) Revenues (2.7 ) — (6.0 ) — Purchased power 0.5 — 0.6 — Ending accumulated derivative gains in AOCI $ 2.1 $ 1.3 $ 7.5 $ 1.4 Nine months ended Nine months ended September 30, 2017 September 30, 2016 Interest Interest $ in millions (net of tax) Power Rate Hedge Power Rate Hedge Beginning accumulated derivative gains / (losses) in AOCI $ (4.3 ) $ 1.6 $ 9.2 $ 2.0 Net gains associated with current period hedging transactions 11.9 0.2 22.5 — Net gains / (losses) reclassified to earnings Interest expense — (0.5 ) — (0.6 ) Revenues (8.1 ) — (30.1 ) — Purchased power 2.6 — 5.9 — Ending accumulated derivative gains in AOCI $ 2.1 $ 1.3 $ 7.5 $ 1.4 Portion expected to be reclassified to earnings in the next twelve months (a) $ 1.5 $ (0.4 ) Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) 6 37 (a) The actual amounts that we reclassify from AOCI to earnings related to power can differ from the estimate above due to market price changes. Net gains or losses associated with the ineffective portion of the hedging transactions were immaterial in the periods presented. Derivatives not designated as hedges Certain derivative contracts are entered into on a regular basis as part of our risk management program but do not qualify for hedge accounting or the normal purchase and normal sales scope exceptions under FASC 815. Accordingly, such contracts are recorded at fair value with changes in the fair value charged or credited to the Condensed Statements of Operations in the period in which the change occurred. This is commonly referred to as “MTM accounting.” Contracts we enter into as part of our risk management program may be settled financially, by physical delivery, or net settled with the counterparty. FTRs, natural gas futures, and certain forward power contracts are currently marked to market. Certain qualifying derivative instruments have been designated as normal purchase or normal sale contracts, as provided under GAAP. Derivative contracts that have been designated as normal purchases or normal sales under GAAP are not subject to MTM accounting and are recognized in the Condensed Statements of Operations on an accrual basis. Financial Statement Effect The following tables present the amount and classification within the Condensed Statements of Operations of the gains and losses on DP&L's derivatives not designated as hedging instruments for the three and nine months ended September 30, 2017 and 2016 : For the three months ended September 30, 2017 $ in millions FTRs Power Natural Gas Total Change in unrealized gain / (loss) $ 0.2 $ (1.4 ) $ — $ (1.2 ) Realized gain / (loss) 0.2 1.9 (0.2 ) 1.9 Total $ 0.4 $ 0.5 $ (0.2 ) $ 0.7 Recorded in Income Statement: gain / (loss) Revenues $ — $ 3.3 $ — $ 3.3 Purchased power 0.4 (2.8 ) (0.2 ) (2.6 ) Total $ 0.4 $ 0.5 $ (0.2 ) $ 0.7 For the three months ended September 30, 2016 $ in millions FTRs Power Natural Gas Total Change in unrealized gain / (loss) $ — $ 1.2 $ (0.3 ) $ 0.9 Realized gain / (loss) (0.1 ) (2.4 ) 0.2 (2.3 ) Total $ (0.1 ) $ (1.2 ) $ (0.1 ) $ (1.4 ) Recorded in Income Statement: gain / (loss) Revenues $ — $ (10.4 ) $ — $ (10.4 ) Purchased power (0.1 ) 9.2 (0.1 ) 9.0 Total $ (0.1 ) $ (1.2 ) $ (0.1 ) $ (1.4 ) For the nine months ended September 30, 2017 $ in millions FTRs Power Natural Gas Total Change in unrealized gain / (loss) $ (0.5 ) $ 2.2 $ (0.8 ) $ 0.9 Realized gain / (loss) 0.5 (1.5 ) (0.3 ) (1.3 ) Total $ — $ 0.7 $ (1.1 ) $ (0.4 ) Recorded in Income Statement: gain / (loss) Revenues $ — $ (2.7 ) $ — $ (2.7 ) Purchased power — 3.4 (1.1 ) 2.3 Total $ — $ 0.7 $ (1.1 ) $ (0.4 ) For the nine months ended September 30, 2016 $ in millions FTRs Power Natural Gas Total Change in unrealized gain / (loss) $ 0.4 $ 2.3 $ — $ 2.7 Realized gain / (loss) (0.4 ) (5.3 ) 0.7 (5.0 ) Total $ — $ (3.0 ) $ 0.7 $ (2.3 ) Recorded in Income Statement: gain / (loss) Revenues $ — $ (13.1 ) $ — $ (13.1 ) Purchased power — 10.1 0.7 10.8 Total $ — $ (3.0 ) $ 0.7 $ (2.3 ) DP&L has elected not to offset derivative assets and liabilities and not to offset net derivative positions against the right to reclaim cash collateral pledged (an asset) or the obligation to return cash collateral received (a liability) under derivative agreements. The following tables summarize the derivative positions presented in the balance sheet where a right of offset exists under these arrangements and related cash collateral received or pledged, as well as the fair value, balance sheet classification and hedging designation of DP&L’s derivative instruments: Fair Values of Derivative Instruments at September 30, 2017 Gross Amounts Not Offset in the Condensed Balance Sheets $ in millions Hedging Designation Gross Fair Value as presented in the Balance Sheets (a) Financial Instruments with Same Counterparty in Offsetting Position Cash Collateral Net Fair Value Assets Short-term derivative positions (presented in Other prepayments and current assets) Forward power contracts Designated $ 7.0 $ (4.6 ) $ — $ 2.4 Forward power contracts Not designated 3.5 (2.7 ) — 0.8 Natural gas futures Not designated — — — — Long-term derivative positions (presented in Other deferred assets) Interest rate swap Designated 0.9 — — 0.9 Natural gas futures Not designated — — — — Forward power contracts Not designated 0.3 — — 0.3 Total assets $ 11.7 $ (7.3 ) $ — $ 4.4 Liabilities Short-term derivative positions (presented in Other current liabilities) Forward power contracts Designated $ 4.6 $ (4.6 ) $ — $ — Interest rate swaps Designated — — — — Forward power contracts Not designated 3.5 (2.7 ) (0.7 ) 0.1 Natural gas futures Not designated 0.8 — (0.8 ) — FTRs Not designated 0.5 — — 0.5 Long-term derivative positions (presented in Other deferred credits) Natural gas futures Not designated — — — — Total liabilities $ 9.4 $ (7.3 ) $ (1.5 ) $ 0.6 (a) includes credit valuation adjustment Fair Values of Derivative Instruments at December 31, 2016 Gross Amounts Not Offset in the Condensed Balance Sheets $ in millions Hedging Designation Gross Fair Value as presented in the Balance Sheets (a) Financial Instruments with Same Counterparty in Offsetting Position Cash Collateral Net Fair Value Assets Short-term derivative positions (presented in Other prepayments and current assets) Forward power contracts Designated $ 11.0 $ (10.5 ) $ — $ 0.5 Forward power contracts Not designated 6.0 (4.7 ) — 1.3 FTRs Not designated 0.1 — — 0.1 Long-term derivative positions (presented in Other deferred assets) Interest rate swaps Designated 1.2 — — 1.2 Forward power contracts Designated 0.6 (0.6 ) — — Forward power contracts Not designated 1.9 (1.0 ) — 0.9 Total assets $ 20.8 $ (16.8 ) $ — $ 4.0 Liabilities Short-term derivative positions (presented in Other current liabilities) Forward power contracts Designated $ 16.4 $ (10.5 ) $ (5.5 ) $ 0.4 Interest rate swaps Designated 0.7 — — 0.7 Forward power contracts Not designated 7.7 (4.7 ) — 3.0 Long-term derivative positions (presented in Other deferred credits) Forward power contracts Designated 2.4 (0.6 ) (0.8 ) 1.0 Forward power contracts Not designated 2.0 (1.0 ) — 1.0 Total liabilities $ 29.2 $ (16.8 ) $ (6.3 ) $ 6.1 (a) includes credit valuation adjustment Credit risk-related contingent features Certain of our OTC commodity derivative contracts are under master netting agreements that contain provisions that require us to post collateral if our credit ratings drop below certain thresholds. We have crossed this threshold and our counterparties could request that we post collateral for our net liability position with them. As of the date of the filing of this report, we have not had to post collateral with any of these counterparties. The aggregate fair value of DP&L’s commodity derivative instruments that were in a MTM loss position at September 30, 2017 was $9.4 million . $1.5 million of collateral was posted directly with third parties and in a broker margin account which offsets our loss positions on the forward contracts. This liability position is further offset by the asset position of counterparties with master netting agreements of $7.3 million . If DP&L's long-term debt were to fall below investment grade, DP&L could be required to post collateral for the remaining $0.6 million . |
Debt Obligations
Debt Obligations | 9 Months Ended |
Sep. 30, 2017 | |
Debt Instrument [Line Items] | |
Debt Obligations | Long-term Debt The following table summarizes DPL's outstanding long-term debt. Interest September 30, December 31, $ in millions Rate Maturity 2017 2016 Term loan - rates from 4.01% - 4.49% (a) and 4.00% - 4.01% (b) 2022 $ 441.7 $ 445.0 Tax-exempt First Mortgage Bonds 4.8% 2036 — 100.0 Tax-exempt First Mortgage Bonds - rates from 1.52% - 1.83% (a) and 1.29% - 1.42% (b) 2020 200.0 200.0 U.S. Government note 4.2% 2061 17.9 18.0 Capital leases 0.3 0.4 Unamortized deferred financing costs (9.9 ) (10.7 ) Unamortized long-term debt discounts and premiums, net (2.0 ) (5.5 ) Total long-term debt at consolidated subsidiary 648.0 747.2 Bank term loan - rates from 3.02% - 3.99% (a) and 2.67% - 3.02% (b) 2020 106.3 125.0 Senior unsecured notes 6.75% 2019 200.0 200.0 Senior unsecured notes 7.25% 2021 780.0 780.0 Note to DPL Capital Trust II (c) 8.125% 2031 15.6 15.6 Unamortized deferred financing costs (7.4 ) (8.8 ) Unamortized long-term debt discounts and premiums, net (0.6 ) (0.6 ) Total long-term debt 1,741.9 1,858.4 Less: current portion (29.7 ) (29.7 ) Long-term debt, net of current portion $ 1,712.2 $ 1,828.7 (a) Range of interest rates for the nine months ended September 30, 2017 . (b) Range of interest rates for the year ended December 31, 2016 . (c) Note payable to related party. Deferred financing costs are amortized over the remaining life of the debt using the effective interest method. Premiums or discounts on long-term debt are amortized over the remaining life of the debt using the effective interest method. Line of credit At September 30, 2017 , DPL had $50.0 million in outstanding borrowings on its line of credit. In addition, DP&L had $15.0 million in outstanding borrowings on its line of credit. Significant transactions On May 26, 2017, DP&L commenced a tender offer to purchase any and all of the outstanding 4.8% tax-exempt First Mortgage Bonds at par value (plus accrued and unpaid interest). By June 23, 2017, or the expiration date of the tender, $8.1 million of the outstanding bonds were tendered. On June 26, 2017, DP&L accepted all of the tendered bonds, redeemed and retired them. On July 7, 2017, DP&L notified the Ohio Air Quality Development Authority and the Trustee of the same First Mortgage Bonds that DP&L was going to call at par value (plus accrued and unpaid interest) $21.9 million of these bonds. This call was completed on August 7, 2017. On September 28, 2017, DP&L issued an irrevocable call notice to purchase all of the remaining outstanding 4.8% tax-exempt First Mortgage Bonds at par value (plus accrued and unpaid interest). As of September 30, 2017, all of the bonds were either redeemed or defeased. This was done to facilitate Generation Separation and the release of the DP&L generation assets from the lien of DP&L's First and Refunding Mortgage. The redemption of the $70.0 million principal amount of defeased bonds was completed on October 30, 2017. Long-term debt covenants and restrictions DP&L’s unsecured revolving credit agreement and Bond Purchase and Covenants Agreement have two financial covenants. The first measures Total Debt to Total Capitalization and is calculated at the end of each fiscal quarter by dividing total debt at the end of the quarter by total capitalization at the end of the quarter. The second financial covenant ratio compares EBITDA to Interest Expense and is calculated at the end of each fiscal quarter by dividing EBITDA for the four prior fiscal quarters by the consolidated interest charges for the same period. On February 21, 2017, DP&L and its lenders amended DP&L’s revolving credit agreement and Bond Purchase and Covenant Agreement. These amendments modified the definition of Consolidated Net Worth (which is used for measuring the Total Debt to Total Capitalization ratio under each of the agreements), to exclude, through March 31, 2018, non-cash charges related directly to impairments of coal generation assets in DP&L's fiscal quarter ending December 31, 2016 and thereafter. With this amendment, DP&L’s Total Debt to Total Capitalization ratio for the period ending September 30, 2017 is 0.46 to 1.00. The amendment also changed, for each agreement, the dates after generation separation during which compliance with the Total Capitalization ratio detailed above shall be suspended if DP&L's long-term indebtedness, as required by the PUCO, is less than or equal to $750.0 million . This time period was originally January 1, 2017 to December 31, 2017, but is now the twelve months immediately subsequent to the separation of the generation assets from DP&L . The cost of borrowing under DP&L's unsecured revolving credit agreement and Bond Purchase and Covenants Agreement adjust under certain credit rating scenarios. DPL’s revolving credit agreement and term loan have two financial covenants. The first financial covenant, a Total Debt to EBITDA ratio, is calculated at the end of each fiscal quarter by dividing total debt at the end of the current quarter by consolidated EBITDA for the four prior fiscal quarters. The second financial covenant, an EBITDA to Interest Expense ratio, is calculated, at the end of each fiscal quarter, by dividing EBITDA for the four prior fiscal quarters by the consolidated interest charges for the same period. The cost of borrowing under DPL's revolving credit agreement and term loan adjust under certain credit rating scenarios. DPL’s revolving credit agreement, term loan, and senior unsecured notes due 2019 restrict dividend payments from DPL to AES. As of September 30, 2017 , DP&L and DPL were in compliance with all debt covenants, including the financial covenants described above. Substantially all property, plant & equipment of DP&L is subject to the lien of the mortgage securing DP&L’s First and Refunding Mortgage. In July 2017, assets related to the Miami Fort station and the Zimmer station were released from the lien of DP&L's First and Refunding Mortgage in connection with the pending sale. On October 1, 2017, all the other DP&L generation assets transferred to AES Ohio Generation as part of Generation Separation were released from the lien of DP&L’s First and Refunding Mortgage. See Note 13 – Assets and Liabilities Held for Sale for additional information. |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Debt Instrument [Line Items] | |
Debt Obligations | Long-term Debt The following table summarizes DP&L's outstanding long-term debt. Interest September 30, December 31, $ in millions Rate Maturity 2017 2016 Term loan - rates from 4.01% - 4.49% (a) and 4.00% - 4.01% (b) 2022 $ 441.7 $ 445.0 Tax-exempt First Mortgage Bonds 4.8% 2036 — 100.0 Tax-exempt First Mortgage Bonds - rates from 1.52% - 1.83% (a) and 1.29% - 1.42% (b) 2020 200.0 200.0 U.S. Government note 4.2% 2061 17.9 18.0 Capital leases 0.3 0.4 Unamortized deferred financing costs (9.9 ) (11.8 ) Unamortized long-term debt discounts (2.0 ) (2.2 ) Total long-term debt 648.0 749.4 Less: current portion (4.7 ) (4.7 ) Long-term debt, net of current portion $ 643.3 $ 744.7 (a) Range of interest rates for the nine months ended September 30, 2017 . (b) Range of interest rates for the year ended December 31, 2016 . Deferred financing costs are amortized over the remaining life of the debt using the effective interest method. Premiums or discounts on long-term debt are amortized over the remaining life of the debt using the effective interest method. Line of credit At September 30, 2017 , DP&L had $15.0 million in outstanding borrowings on its line of credit. Significant transactions On May 26, 2017, DP&L commenced a tender offer to purchase any and all of the outstanding 4.8% tax-exempt First Mortgage Bonds at par value (plus accrued and unpaid interest). By June 23, 2017, or the expiration date of the tender, $8.1 million of the outstanding bonds were tendered. On June 26, 2017, DP&L accepted all of the tendered bonds, redeemed and retired them. On July 7, 2017, DP&L notified the Ohio Air Quality Development Authority and the Trustee of the same First Mortgage Bonds that DP&L was going to call at par value (plus accrued and unpaid interest) $21.9 million of these bonds. This call was completed on August 7, 2017. On September 28, 2017, DP&L issued an irrevocable call notice to purchase all of the remaining outstanding 4.8% tax-exempt First Mortgage Bonds at par value (plus accrued and unpaid interest). As of September 30, 2017, all of the bonds were either redeemed or defeased. This was done to facilitate Generation Separation and the release of the DP&L generation assets from the lien of DP&L's First and Refunding Mortgage. The redemption of the $70.0 million principal amount of defeased bonds was completed on October 30, 2017. Long-term debt covenants and restrictions DP&L’s unsecured revolving credit agreement and Bond Purchase and Covenants Agreement have two financial covenants. The first measures Total Debt to Total Capitalization and is calculated, at the end of each fiscal quarter, by dividing total debt at the end of the quarter by total capitalization at the end of the quarter. The second financial covenant ratio compares EBITDA to Interest Expense and is calculated at the end of each fiscal quarter by dividing EBITDA for the four prior fiscal quarters by the consolidated interest charges for the same period. On February 21, 2017, DP&L and its lenders amended DP&L’s revolving credit agreement and Bond Purchase and Covenant Agreement. These amendments modified the definition of Consolidated Net Worth (which is used for measuring the Total Debt to Total Capitalization ratio under each of the agreements), to exclude, through March 31, 2018, non-cash charges related directly to impairments of coal generation assets in DP&L's fiscal quarter ending December 31, 2016 and thereafter. With this amendment, DP&L’s Total Debt to Total Capitalization ratio for the period ending September 30, 2017 is 0.46 to 1.00. The amendment also changed, for each agreement, the dates after generation separation during which compliance with the Total Capitalization ratio detailed above shall be suspended if DP&L's long-term indebtedness, as required by the PUCO, is less than or equal to $750.0 million . This time period was originally January 1, 2017 to December 31, 2017, but is now the twelve months immediately subsequent to the separation of the generation assets from DP&L . As of September 30, 2017 , DP&L was in compliance with all debt covenants, including the financial covenants described above. The cost of borrowing under DP&L's unsecured revolving credit agreement and Bond Purchase and Covenants Agreement adjusts under certain credit rating scenarios. Substantially all property, plant & equipment of DP&L is subject to the lien of the mortgage securing DP&L’s First and Refunding Mortgage. In July 2017, assets related to the Miami Fort station and the Zimmer station were released from the lien of DP&L's First and Refunding Mortgage in connection with the pending sale. On October 1, 2017, all the other DP&L generation assets transferred to AES Ohio Generation as part of Generation Separation were released from the lien of DP&L’s First and Refunding Mortgage. See Note 13 – Assets and Liabilities Held for Sale for additional information. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2017 | |
Entity Information [Line Items] | |
Income Taxes | Income Taxes The following table details the effective tax rates for the three and nine months ended September 30, 2017 and 2016 . Three months ended Nine months ended September 30, September 30, 2017 2016 2017 2016 DPL 21.8% 45.7% 36.9% 38.6% Income tax expense for the nine months ended September 30, 2017 and 2016 was calculated using the estimated annual effective income tax rates for 2017 and 2016 of 36.0% and 38.6% , respectively. Management estimates the annual effective tax rate based on its forecast of annual pre-tax income. To the extent that actual pre-tax results for the year differ from the forecasts applied to the most recent interim period, the estimated rates could be materially different from the actual effective tax rates. The effective tax rate for the three months ended September 30, 2017 includes the impact of an adjustment relating to flow-through depreciation. The impact of this adjustment decreased the effective tax rate by 10.8% for the three months ended September 30, 2017. There is no impact on the effective tax rate for the nine months ended September 30, 2017. The decrease in the annual effective rate compared to the same period in 2016 is primarily due to the forecasted tax expense relating to flow-through depreciation and the projected manufacturer's production deduction. |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Entity Information [Line Items] | |
Income Taxes | Income Taxes The following table details the effective tax rates for the three and nine months ended September 30, 2017 and 2016 . Three months ended Nine months ended September 30, September 30, 2017 2016 2017 2016 DP&L 28.9% 39.6% 5.3% 36.7% Income tax expense for the nine months ended September 30, 2017 and 2016 was calculated using the estimated annual effective income tax rates for 2017 and 2016 of 19.0% and 36.7% , respectively. Management estimates the annual effective tax rate based on its forecast of annual pre-tax income. To the extent that actual pre-tax results for the year differ from the forecasts applied to the most recent interim period, the estimated rates could be materially different from the actual effective tax rates. The effective tax rate for the three months ended September 30, 2017 includes the impact of an adjustment relating to flow-through depreciation. The impact of this adjustment increased the effective tax rate by 8.2% for the three months ended September 30, 2017. There is no impact on the effective tax rate for the nine months ended September 30, 2017. The decrease in the annual effective rate compared to the same period in 2016 is primarily due to the forecasted tax expense relating to flow-through depreciation and the projected manufacturer's production deduction. Income taxes paid, net, were $22.2 million and $0.3 million for the nine months ended September 30, 2017 and 2016 , respectively. For the nine months ended September 30, 2017 , the $22.2 million represented payments made to DPL . |
Benefit Plans
Benefit Plans | 9 Months Ended |
Sep. 30, 2017 | |
Entity Information [Line Items] | |
Pension and Postretirement Benefits | Benefit Plans DP&L sponsors a defined benefit pension plan for the vast majority of its employees. We generally fund pension plan benefits as accrued in accordance with the minimum funding requirements of ERISA and, in addition, make voluntary contributions from time to time. There were $5.0 million in employer contributions during each of the nine months ended September 30, 2017 and 2016. The amounts presented in the following tables for pension include the collective bargaining plan formula, the traditional management plan formula, the cash balance plan formula and the SERP, in the aggregate. The pension costs below have not been adjusted for amounts billed to the Service Company for former DP&L employees who are now employed by the Service Company but are still participants in the DP&L plan. The net periodic benefit cost of the pension benefit plans for the three and nine months ended September 30, 2017 and 2016 was: Three months ended Nine months ended September 30, September 30, $ in millions 2017 2016 2017 2016 Service cost $ 1.5 $ 1.4 $ 4.3 $ 4.2 Interest cost 3.5 3.7 10.6 11.1 Expected return on plan assets (5.7 ) (5.7 ) (17.1 ) (17.1 ) Plan curtailment (a) — — 4.1 — Amortization of unrecognized: Prior service cost 0.2 0.4 0.8 1.4 Actuarial loss 1.3 1.1 4.0 3.2 Net periodic benefit cost $ 0.8 $ 0.9 $ 6.7 $ 2.8 (a) As a result of the decision to retire certain of DP&L's coal-fired plants, we recognized a plan curtailment of $4.1 million in the first quarter of 2017. See Note 14 – Fixed-asset Impairments for more information. In addition, DP&L provides postretirement health care and life insurance benefits to certain retired employees, their spouses and eligible dependents. We have funded a portion of the union-eligible benefits using a Voluntary Employee Beneficiary Association Trust. These postretirement health care benefits and the related unfunded obligation of $15.6 million at September 30, 2017 and $15.8 million at December 31, 2016 were not material to the financial statements in the periods covered by this report. Benefit payments, which reflect future service, are estimated to be paid as follows: $ in millions Estimated to be paid during Pension 2017 $ 6.3 2018 $ 25.5 2019 $ 26.0 2020 $ 26.4 2021 $ 26.7 2022 - 2026 $ 139.6 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Entity Information [Line Items] | |
Pension and Postretirement Benefits | Benefit Plans DP&L sponsors a defined benefit pension plan for the vast majority of its employees. We generally fund pension plan benefits as accrued in accordance with the minimum funding requirements of ERISA and, in addition, make voluntary contributions from time to time. There were $5.0 million in employer contributions during each of the nine months ended September 30, 2017 and 2016. The amounts presented in the following tables for pension include the collective bargaining plan formula, the traditional management plan formula, the cash balance plan formula and the SERP, in the aggregate. The pension costs below have not been adjusted for amounts billed to the Service Company for former DP&L employees who are now employed by the Service Company but are still participants in the DP&L plan. The net periodic benefit cost of the pension benefit plans for the three and nine months ended September 30, 2017 and 2016 was: Three months ended Nine months ended September 30, September 30, $ in millions 2017 2016 2017 2016 Service cost $ 1.5 $ 1.4 $ 4.3 $ 4.2 Interest cost 3.5 3.7 10.6 11.1 Expected return on plan assets (5.7 ) (5.7 ) (17.1 ) (17.1 ) Plan curtailment (a) — — 5.6 — Amortization of unrecognized: Prior service cost 0.3 0.8 1.1 2.3 Actuarial loss 2.1 1.8 6.6 5.4 Net periodic benefit cost $ 1.7 $ 2.0 $ 11.1 $ 5.9 (a) As a result of the decision to retire certain of DP&L's coal-fired plants, we recognized a plan curtailment of $5.6 million in the first quarter of 2017. See Note 14 – Fixed-asset Impairments for more information. In addition, DP&L provides postretirement health care and life insurance benefits to certain retired employees, their spouses and eligible dependents. We have funded a portion of the union-eligible benefits using a Voluntary Employee Beneficiary Association Trust. These postretirement health care benefits and the related unfunded obligation of $15.6 million at September 30, 2017 and $15.8 million at December 31, 2016 were not material to the financial statements in the periods covered by this report. Benefit payments, which reflect future service, are estimated to be paid as follows: $ in millions Estimated to be paid during Pension 2017 $ 6.3 2018 $ 25.5 2019 $ 26.0 2020 $ 26.4 2021 $ 26.7 2022 - 2026 $ 139.6 |
Shareholder's Equity
Shareholder's Equity | 9 Months Ended |
Sep. 30, 2017 | |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Class of Stock [Line Items] | |
Shareholder's Equity | Shareholder’s Equity DP&L has 250,000,000 authorized shares of common stock, $0.01 par value, of which 41,172,173 are outstanding at September 30, 2017 . All common shares are held by DP&L’s parent, DPL . As part of the PUCO’s approval of the Merger, DP&L agreed to maintain a capital structure that includes an equity ratio, calculated as total equity divided by total capitalization, of at least 50 percent and to not have a negative retained earnings balance. After the fixed-asset impairments recorded in 2017 and 2016 and as of September 30, 2017 , DP&L's equity ratio was 39% and retained earnings balance was negative. It is unknown what impact, if any, this will have on DP&L . In the generation separation order dated September 17, 2014, the PUCO permitted DP&L to temporarily maintain long-term debt of $750.0 million or 75% of its rate base, whichever is greater, until January 1, 2018. After considering the payments and defeasance noted in Note 7 – Long-term Debt , DP&L's long-term debt is $659.9 million . During the nine months ended September 30, 2017, DP&L paid $19.0 million in cash to DPL , which was treated as a return of capital reducing Other paid-in capital. In addition, DPL made a $70.0 million capital contribution to DP&L during the third quarter of 2017. |
Contractual Obligations, Commer
Contractual Obligations, Commercial Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2017 | |
Entity Information [Line Items] | |
Contractual Obligations, Commercial Commitments and Contingencies | Contractual Obligations, Commercial Commitments and Contingencies Guarantees In the normal course of business, DPL enters into various agreements with its wholly-owned subsidiary, AES Ohio Generation , providing financial or performance assurance to third parties. These agreements are entered into primarily to support or enhance the creditworthiness otherwise attributed to this subsidiary on a stand-alone basis, thereby facilitating the extension of sufficient credit to accomplish this subsidiary's intended commercial purposes. At September 30, 2017 , DPL had $38.6 million of guarantees on behalf of AES Ohio Generation to third parties for future financial or performance assurance under such agreements. The guarantee arrangements entered into by DPL with these third parties cover select present and future obligations of AES Ohio Generation to such beneficiaries and are terminable by DPL upon written notice to the beneficiaries within a certain time. The carrying amount of obligations for commercial transactions covered by these guarantees recorded in our Condensed Consolidated Balance Sheets was $1.2 million and $2.3 million at September 30, 2017 and December 31, 2016 , respectively. To date, DPL has not incurred any losses related to the guarantees of AES Ohio Generation ’s obligations and we believe it is remote that DPL would be required to perform or incur any losses in the future associated with any of the above guarantees. Equity Ownership Interest DP&L has a 4.9% equity ownership interest in OVEC, which is recorded using the cost method of accounting under GAAP. At September 30, 2017 , DP&L could be responsible for the repayment of 4.9% , or $71.3 million , of a $1,455.5 million debt obligation comprised of both fixed and variable rate securities with maturities from 2019 to 2040 . OVEC could also seek additional contributions from us to avoid a default in the event that other OVEC members defaulted on their respective OVEC obligations. As of September 30, 2017 , we have no knowledge of such a default. Commercial Commitments and Contractual Obligations There have been no material changes, outside the ordinary course of business, to our commercial commitments and to the information disclosed in the contractual obligations table in our Form 10-K for the fiscal year ended December 31, 2016 . Contingencies In the normal course of business, we are subject to various lawsuits, actions, proceedings, claims and other matters asserted under various laws and regulations. We believe the amounts provided in our Condensed Consolidated Financial Statements, as prescribed by GAAP, are adequate in light of the probable and estimable contingencies. However, there can be no assurances that the actual amounts required to satisfy alleged liabilities from various legal proceedings, claims, tax examinations and other matters discussed below, and to comply with applicable laws and regulations, will not exceed the amounts reflected in our Condensed Consolidated Financial Statements. As such, costs, if any, that may be incurred in excess of those amounts provided as of September 30, 2017 , cannot be reasonably determined. Environmental Matters DPL’s and DP&L’s facilities and operations are subject to a wide range of federal, state and local environmental regulations and laws. The environmental issues that may affect us include: • The federal CAA and state laws and regulations (including State Implementation Plans) which require compliance, obtaining permits and reporting as to air emissions; • Litigation with federal and certain state governments and certain special interest groups regarding whether modifications to or maintenance of certain coal-fired generating stations require additional permitting or pollution control technology, or whether emissions from coal-fired generating stations cause or contribute to climate change; • Rules and future rules issued by the USEPA, the Ohio EPA or other authorities that require or will require substantial reductions in SO 2 , particulates, mercury, acid gases, NOx, and other air emissions. DPL has installed emission control technology and is taking other measures to comply with required and anticipated reductions; • Rules and future rules issued by the USEPA, the Ohio EPA or other authorities that require or will require reporting and reductions of GHGs; • Rules and future rules issued by the USEPA, the Ohio EPA or other authorities associated with the federal Clean Water Act, which prohibits the discharge of pollutants into waters of the United States except pursuant to appropriate permits; and • Solid and hazardous waste laws and regulations, which govern the management and disposal of certain waste. The majority of solid waste created from the combustion of coal and fossil fuels consists of fly ash and other coal combustion by-products. In addition to imposing continuing compliance obligations, these laws and regulations authorize the imposition of substantial penalties for noncompliance, including fines, injunctive relief and other sanctions. In the normal course of business, we have investigatory and remedial activities underway at our facilities to comply, or to determine compliance, with such regulations. We record liabilities for loss contingencies related to environmental matters when a loss is probable of occurring and can be reasonably estimated in accordance with the provisions of GAAP. Accordingly, we have immaterial accruals for loss contingencies for environmental matters. We also have a number of environmental matters for which we have not accrued loss contingencies because the risk of loss is not probable or a loss cannot be reasonably estimated. We evaluate the potential liability related to environmental matters quarterly and may revise our estimates. Such revisions in the estimates of the potential liabilities could have a material adverse effect on our results of operations, financial condition or cash flows. We have several pending environmental matters associated with our coal-fired generation units. Some of these matters could have material adverse impacts on the operation of the power stations. |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Entity Information [Line Items] | |
Contractual Obligations, Commercial Commitments and Contingencies | Contractual Obligations, Commercial Commitments and Contingencies Equity Ownership Interest DP&L has a 4.9% equity ownership interest in OVEC, which is recorded using the cost method of accounting under GAAP. At September 30, 2017 , DP&L could be responsible for the repayment of 4.9% , or $71.3 million , of a $1,455.5 million debt obligation comprised of both fixed and variable rate securities with maturities from 2019 to 2040 . OVEC could also seek additional contributions from us to avoid a default in the event that other OVEC members defaulted on their respective OVEC obligations. As of September 30, 2017 , we have no knowledge of such a default. Commercial Commitments and Contractual Obligations There have been no material changes, outside the ordinary course of business, to our commercial commitments and to the information disclosed in the contractual obligations table in our Form 10-K for the fiscal year ended December 31, 2016 . Contingencies In the normal course of business, we are subject to various lawsuits, actions, proceedings, claims and other matters asserted under various laws and regulations. We believe the amounts provided in our Condensed Financial Statements, as prescribed by GAAP, are adequate in light of the probable and estimable contingencies. However, there can be no assurances that the actual amounts required to satisfy alleged liabilities from various legal proceedings, claims, tax examinations and other matters discussed below, and to comply with applicable laws and regulations, will not exceed the amounts reflected in our Condensed Financial Statements. As such, costs, if any, that may be incurred in excess of those amounts provided as of September 30, 2017 , cannot be reasonably determined. Environmental Matters DP&L’s facilities and operations are subject to a wide range of federal, state and local environmental regulations and laws. The environmental issues that may affect us include: • The federal CAA and state laws and regulations (including State Implementation Plans) which require compliance, obtaining permits and reporting as to air emissions; • Litigation with federal and certain state governments and certain special interest groups regarding whether modifications to or maintenance of certain coal-fired generating stations require additional permitting or pollution control technology, or whether emissions from coal-fired generating stations cause or contribute to climate change; • Rules and future rules issued by the USEPA, the Ohio EPA or other authorities that require or will require substantial reductions in SO 2 , particulates, mercury, acid gases, NOx, and other air emissions. DP&L has installed emission control technology and is taking other measures to comply with required and anticipated reductions; • Rules and future rules issued by the USEPA, the Ohio EPA or other authorities that require or will require reporting and reductions of GHGs; • Rules and future rules issued by the USEPA, the Ohio EPA or other authorities associated with the federal Clean Water Act, which prohibits the discharge of pollutants into waters of the United States except pursuant to appropriate permits; and • Solid and hazardous waste laws and regulations, which govern the management and disposal of certain waste. The majority of solid waste created from the combustion of coal and fossil fuels consists of fly ash and other coal combustion by-products. In addition to imposing continuing compliance obligations, these laws and regulations authorize the imposition of substantial penalties for noncompliance, including fines, injunctive relief and other sanctions. In the normal course of business, we have investigatory and remedial activities underway at our facilities to comply, or to determine compliance, with such regulations. We record liabilities for loss contingencies related to environmental matters when a loss is probable of occurring and can be reasonably estimated in accordance with the provisions of GAAP. Accordingly, we have immaterial accruals for loss contingencies for environmental matters. We also have a number of environmental matters for which we have not accrued loss contingencies because the risk of loss is not probable or a loss cannot be reasonably estimated. We evaluate the potential liability related to environmental matters quarterly and may revise our estimates. Such revisions in the estimates of the potential liabilities could have a material adverse effect on our results of operations, financial condition or cash flows. We have several pending environmental matters associated with our coal-fired generation units. Some of these matters could have material adverse impacts on the operation of the power stations. |
Business Segments
Business Segments | 9 Months Ended |
Sep. 30, 2017 | |
Segment Reporting Information [Line Items] | |
Business Segments | Business Segments DPL currently manages the business through two reportable operating segments, the T&D segment and the Generation segment. The primary segment performance measure is income / (loss) from continuing operations before income tax as management has concluded that this measure best reflects the underlying business performance of DPL and is the most relevant measure considered in DPL’s internal evaluation of the financial performance of its segments. The segments are discussed further below: Transmission and Distribution Segment The T&D segment is comprised primarily of DP&L’s electric transmission and distribution businesses, which distribute electricity to residential, commercial, industrial and governmental customers. DP&L distributes electricity to more than 520,000 retail customers located in a 6,000 square mile area of West Central Ohio. DP&L’s electric transmission and distribution businesses are subject to rate regulation by federal and state regulators. Accordingly, DP&L applies the accounting standards for regulated operations to its electric transmission and distribution businesses recording regulatory assets when incurred costs are expected to be recovered in future customer rates and regulatory liabilities when current cost recoveries in customer rates relate to expected future costs. The T&D segment includes revenues and costs associated with our investment in OVEC and the historical results of DP&L’s Beckjord, Hutchings Coal, and East Bend generating facilities, which were either closed or sold in prior periods. As these assets did not transfer to AES Ohio Generation on October 1, 2017 when DP&L’s generation separation occurred, they are grouped with the T&D assets for segment reporting purposes. In addition, regulatory deferrals and collections, which include fuel deferrals in historical periods, are included in the T&D segment. Generation Segment The Generation segment is comprised of AES Ohio Generation and DP&L’s electric generation business. Beginning in 2001, Ohio law gave consumers the right to choose the electric generation supplier from whom they purchase retail generation services. Through September 30, 2017, AES Ohio Generation owned and operated peaking generating facilities, and DP&L owned multiple coal-fired and peaking electric generating facilities. As a result of Generation Separation, the DP&L -owned generating facilities were transferred to AES Ohio Generation on October 1, 2017. Both AES Ohio Generation and DP&L primarily sell their generated energy and capacity into the PJM wholesale market as DP&L sources all of the generation for its SSO customers through a competitive bid process. Included within the “Other” column are other businesses that do not meet the GAAP requirements for disclosure as reportable segments as well as certain corporate costs, which include interest expense on DPL’s long-term debt and adjustments related to purchase accounting from the Merger. The accounting policies of the reportable segments are the same as those described in Note 1 – Overview and Summary of Significant Accounting Policies. Intersegment sales, costs of sales and expenses are eliminated in consolidation. Certain shared and corporate costs are allocated among reporting segments. The following tables present financial information for each of DPL’s reportable business segments prior to the October 1, 2017 transfer to AES Ohio Generation: $ in millions T&D Generation Other Adjustments and Eliminations DPL Consolidated Three months ended September 30, 2017 Revenues from external customers $ 184.0 $ 137.2 $ 2.7 $ — $ 323.9 Intersegment revenues 0.2 — 0.9 (1.1 ) — Total revenues $ 184.2 $ 137.2 $ 3.6 $ (1.1 ) $ 323.9 Depreciation and amortization $ 19.6 $ 4.7 $ 3.0 $ — $ 27.3 Interest expense $ 7.7 $ — $ 19.5 $ — $ 27.2 Income / (loss) from continuing operations before income tax $ 20.0 $ 29.9 $ (21.9 ) $ — $ 28.0 Cash capital expenditures $ 20.6 $ 7.9 $ 0.7 $ — $ 29.2 $ in millions T&D Generation Other Adjustments and Eliminations DPL Consolidated Three months ended September 30, 2016 Revenues from external customers $ 215.5 $ 170.4 $ 3.4 $ — $ 389.3 Intersegment revenues 0.3 — 2.0 (2.3 ) — Total revenues $ 215.8 $ 170.4 $ 5.4 $ (2.3 ) $ 389.3 Depreciation and amortization $ 17.8 $ 7.7 $ 5.4 $ — $ 30.9 Interest expense $ 6.5 $ 0.1 $ 20.5 $ (0.1 ) $ 27.0 Income / (loss) from continuing operations before income tax $ 36.4 $ 14.2 $ (22.8 ) $ — $ 27.8 Cash capital expenditures $ 19.6 $ 10.6 $ 0.5 $ — $ 30.7 $ in millions T&D Generation Other Adjustments and Eliminations DPL Consolidated Nine months ended September 30, 2017 Revenues from external customers $ 541.7 $ 396.4 $ 7.8 $ — $ 945.9 Intersegment revenues 0.8 — 3.6 (4.4 ) — Total revenues $ 542.5 $ 396.4 $ 11.4 $ (4.4 ) $ 945.9 Depreciation and amortization $ 56.3 $ 16.6 $ 8.9 $ — $ 81.8 Fixed-asset Impairments (Note 14) $ — $ 66.3 $ 0.1 $ — $ 66.4 Interest expense $ 22.9 $ 0.2 $ 58.4 $ — $ 81.5 Income / (loss) from continuing operations before income tax $ 60.1 $ (43.7 ) $ (62.8 ) $ — $ (46.4 ) Cash capital expenditures $ 66.3 $ 27.1 $ 2.2 $ — $ 95.6 At September 30, 2017 Total assets $ 1,655.3 $ 333.0 $ 694.4 $ (508.4 ) $ 2,174.3 $ in millions T&D Generation Other Adjustments and Eliminations DPL Consolidated Nine months ended September 30, 2016 Revenues from external customers $ 604.4 $ 470.0 $ 7.2 $ — $ 1,081.6 Intersegment revenues 1.0 — 4.2 (5.2 ) — Total revenues $ 605.4 $ 470.0 $ 11.4 $ (5.2 ) $ 1,081.6 Depreciation and amortization $ 55.1 $ 44.6 $ 0.6 $ — $ 100.3 Fixed-asset Impairments (Note 14) $ — $ 857.1 $ (621.6 ) $ — $ 235.5 Interest expense $ 17.5 $ 0.3 $ 61.7 $ (0.2 ) $ 79.3 Income / (loss) from continuing operations before income tax $ 97.9 $ (857.2 ) $ 564.8 $ — $ (194.5 ) Cash capital expenditures $ 61.8 $ 46.9 $ 1.1 $ — $ 109.8 At December 31, 2016 Total assets $ 1,710.5 $ 472.3 $ 673.6 $ (437.2 ) $ 2,419.2 |
Subsidiaries [Member] | |
Segment Reporting Information [Line Items] | |
Business Segments | Business Segments Through September 30, 2017, DP&L managed the business through two reportable operating segments, the T&D segment and the Generation segment. After Generation Separation, DP&L will have only one reportable operating segment, the T&D segment, beginning on October 1, 2017. The primary segment performance measure is income / (loss) from operations before income tax as management has concluded that this measure best reflects the underlying business performance of DP&L and is the most relevant measure considered in DP&L’s internal evaluation of the financial performance of its segments. The segments are discussed further below: Transmission and Distribution Segment The T&D segment is comprised primarily of DP&L’s electric transmission and distribution businesses, which distribute electricity to residential, commercial, industrial and governmental customers. DP&L distributes electricity to more than 520,000 retail customers located in a 6,000 square mile area of West Central Ohio. DP&L’s electric transmission and distribution businesses are subject to rate regulation by federal and state regulators. Accordingly, DP&L applies the accounting standards for regulated operations to its electric transmission and distribution businesses recording regulatory assets when incurred costs are expected to be recovered in future customer rates and regulatory liabilities when current cost recoveries in customer rates relate to expected future costs. The T&D segment includes revenues and costs associated with our investment in OVEC and the historical results of DP&L’s Beckjord, Hutchings Coal, and East Bend generating facilities, which were either closed or sold in prior periods. As these assets did not transfer to AES Ohio Generation on October 1, 2017 when DP&L’s generation separation occurred, they are grouped with the T&D assets for segment reporting purposes. In addition, regulatory deferrals and collections, which include fuel deferrals in historical periods, are included in the T&D segment. Generation Segment The Generation segment is comprised of DP&L’s electric generation business. Beginning in 2001, Ohio law gave consumers the right to choose the electric generation supplier from whom they purchase retail generation services. DP&L's Generation segment sells its generated energy and capacity into the wholesale market as DP&L sources all of the generation for its SSO customers through a competitive bid process. Through September 30, 2017, DP&L owned multiple coal-fired and peaking electric generating facilities. As a result of Generation Separation, the DP&L -owned generating facilities were transferred to AES Ohio Generation on October 1, 2017, and DP&L will no longer have a Generation segment. The accounting policies of the reportable segments are the same as those described in Note 1 – Overview and Summary of Significant Accounting Policies. Intersegment sales, costs of sales and expenses are eliminated in consolidation. Certain shared and corporate costs are allocated among reporting segments. The following tables present financial information for each of DP&L’s reportable business segments: $ in millions T&D Generation Adjustments and Eliminations DP&L Total Three months ended September 30, 2017 Revenues from external customers $ 184.2 $ 121.4 $ — $ 305.6 Intersegment revenues — — — — Total revenues $ 184.2 $ 121.4 $ — $ 305.6 Depreciation and amortization $ 19.6 $ 3.1 $ — $ 22.7 Interest expense $ 7.7 $ — $ — $ 7.7 Income from operations before income tax $ 20.0 $ 21.2 $ — $ 41.2 Cash capital expenditures $ 20.6 $ 4.2 $ — $ 24.8 $ in millions T&D Generation Adjustments and Eliminations DP&L Total Three months ended September 30, 2016 Revenues from external customers $ 215.8 $ 152.6 $ — $ 368.4 Intersegment revenues — — — — Total revenues $ 215.8 $ 152.6 $ — $ 368.4 Depreciation and amortization $ 17.8 $ 6.3 $ — $ 24.1 Interest expense $ 6.4 $ 0.1 $ — $ 6.5 Income from operations before income tax $ 36.5 $ 13.3 $ — $ 49.8 Cash capital expenditures $ 19.6 $ 6.9 $ — $ 26.5 $ in millions T&D Generation Adjustments and Eliminations DP&L Total Nine months ended September 30, 2017 Revenues from external customers $ 542.5 $ 358.3 $ — $ 900.8 Intersegment revenues — — — — Total revenues $ 542.5 $ 358.3 $ — $ 900.8 Depreciation and amortization $ 56.3 $ 11.9 $ — $ 68.2 Fixed-asset Impairments (Note 14) $ — $ 66.3 $ — $ 66.3 Interest expense $ 22.9 $ 0.2 $ — $ 23.1 Income / (loss) from operations before income tax $ 60.1 $ (56.3 ) $ — $ 3.8 Cash capital expenditures $ 66.3 $ 16.1 $ — $ 82.4 At September 30, 2017 Total assets $ 1,655.3 $ 178.0 $ — $ 1,833.3 $ in millions T&D Generation Adjustments and Eliminations DP&L Total Nine months ended September 30, 2016 Revenues from external customers $ 605.4 $ 425.9 $ — $ 1,031.3 Intersegment revenues — — — — Total revenues $ 605.4 $ 425.9 $ — $ 1,031.3 Depreciation and amortization $ 55.1 $ 40.1 $ — $ 95.2 Fixed-asset Impairments (Note 14) $ — $ 857.1 $ — $ 857.1 Interest expense $ 16.9 $ 0.3 $ — $ 17.2 Income / (loss) from operations before income tax $ 98.5 $ (837.9 ) $ — $ (739.4 ) Cash capital expenditures $ 61.8 $ 36.5 $ — $ 98.3 At December 31, 2016 Total assets $ 1,710.5 $ 324.6 $ — $ 2,035.1 |
Discontinued Operations
Discontinued Operations | 9 Months Ended |
Sep. 30, 2017 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Discontinued Operations | Discontinued Operations On January 1, 2016, DPL closed on the sale of DPLER, its competitive retail business. The sale agreement was signed on December 28, 2015, and DPL recorded a gain on this transaction of $49.2 million in the first quarter of 2016. The gain includes the impact of DPLER’s liability to DP&L that transferred with the sale on January 1, 2016 but was eliminated in consolidation as of December 31, 2015. Operating activities related to DPLER have been reclassified to "Discontinued operations" in the Condensed Consolidated Statements of Operations for the nine months ended September 30, 2016 . The following table summarizes the revenues, cost of revenues, operating expenses and income tax of discontinued operations for the periods indicated: $ in millions Nine months ended September 30, 2016 Operating expenses $ (0.7 ) Loss from discontinued operations before income taxes (0.7 ) Gain from disposal of discontinued operations 49.2 Income tax expense 18.9 Income on discontinued operations $ 29.6 Cash flows related to discontinued operations are included in our Condensed Consolidated Statements of Cash Flows. Cash flows from operating activities for discontinued operations were $(0.7) million for the nine months ended September 30, 2016 . Cash flows from investing activities for discontinued operations were $75.5 million for the nine months ended September 30, 2016 . All cash generated from discontinued operations was paid to DPL through dividends for all periods presented. Assets and Liabilities Held for Sale On April 21, 2017, DP&L and AES Ohio Generation entered into an Asset Purchase Agreement with subsidiaries of Dynegy Inc., for the sale of DP&L's undivided interests in the Zimmer Station and the Miami Fort Station for cash and the assumption of certain liabilities, including environmental liabilities. The cash purchase price is subject to adjustment at closing based on the amount of certain inventories, pre-paid amounts, employment benefits, insurance premiums, property taxes and other costs prior to closing. The sale is subject to approval by the FERC and is expected to close in the fourth quarter of 2017. Accordingly, the assets and liabilities of Zimmer Station and Miami Fort Station were classified as held for sale as of September 30, 2017, but the plants did not meet the criteria to be reported as discontinued operations. The following table summarizes the major classes of assets and liabilities classified as held for sale as of September 30, 2017: $ in millions September 30, 2017 Assets Accounts receivable, net (a) $ (11.2 ) Inventories 22.7 Property, plant & equipment, net 44.8 Other prepayments and current assets 0.7 Total assets of the disposal group classified as held for sale in the balance sheet $ 57.0 Liabilities Accounts payable $ 0.7 Accrued taxes 2.6 Asset retirement obligations 4.4 Other liabilities (b) (0.7 ) Total liabilities of the disposal group classified as held for sale in the balance sheet $ 7.0 (a) Represents credit balances netted in Accounts Receivable, due to the right of offset with partners (b) Represents amounts due to (from) partners for pension benefits associated with partner-operated plants Zimmer Station and Miami Fort Station's results are reflected within continuing operations in the Condensed Consolidated Statements of Operations. The combined income / (loss) from continuing operations before income tax for Zimmer Station and Miami Fort Station was $11.0 million and $1.4 million for the three months ended September 30, 2017 and 2016 , respectively, and $18.9 million and $(9.8) million for the nine months ended September 30, 2017 and 2016 , respectively. Zimmer Station and Miami Fort Station are included in the Generation segment. |
Held for Sale (Notes)
Held for Sale (Notes) | 9 Months Ended |
Sep. 30, 2017 | |
Long Lived Assets Held-for-sale [Line Items] | |
Discontinued Operations | Discontinued Operations On January 1, 2016, DPL closed on the sale of DPLER, its competitive retail business. The sale agreement was signed on December 28, 2015, and DPL recorded a gain on this transaction of $49.2 million in the first quarter of 2016. The gain includes the impact of DPLER’s liability to DP&L that transferred with the sale on January 1, 2016 but was eliminated in consolidation as of December 31, 2015. Operating activities related to DPLER have been reclassified to "Discontinued operations" in the Condensed Consolidated Statements of Operations for the nine months ended September 30, 2016 . The following table summarizes the revenues, cost of revenues, operating expenses and income tax of discontinued operations for the periods indicated: $ in millions Nine months ended September 30, 2016 Operating expenses $ (0.7 ) Loss from discontinued operations before income taxes (0.7 ) Gain from disposal of discontinued operations 49.2 Income tax expense 18.9 Income on discontinued operations $ 29.6 Cash flows related to discontinued operations are included in our Condensed Consolidated Statements of Cash Flows. Cash flows from operating activities for discontinued operations were $(0.7) million for the nine months ended September 30, 2016 . Cash flows from investing activities for discontinued operations were $75.5 million for the nine months ended September 30, 2016 . All cash generated from discontinued operations was paid to DPL through dividends for all periods presented. Assets and Liabilities Held for Sale On April 21, 2017, DP&L and AES Ohio Generation entered into an Asset Purchase Agreement with subsidiaries of Dynegy Inc., for the sale of DP&L's undivided interests in the Zimmer Station and the Miami Fort Station for cash and the assumption of certain liabilities, including environmental liabilities. The cash purchase price is subject to adjustment at closing based on the amount of certain inventories, pre-paid amounts, employment benefits, insurance premiums, property taxes and other costs prior to closing. The sale is subject to approval by the FERC and is expected to close in the fourth quarter of 2017. Accordingly, the assets and liabilities of Zimmer Station and Miami Fort Station were classified as held for sale as of September 30, 2017, but the plants did not meet the criteria to be reported as discontinued operations. The following table summarizes the major classes of assets and liabilities classified as held for sale as of September 30, 2017: $ in millions September 30, 2017 Assets Accounts receivable, net (a) $ (11.2 ) Inventories 22.7 Property, plant & equipment, net 44.8 Other prepayments and current assets 0.7 Total assets of the disposal group classified as held for sale in the balance sheet $ 57.0 Liabilities Accounts payable $ 0.7 Accrued taxes 2.6 Asset retirement obligations 4.4 Other liabilities (b) (0.7 ) Total liabilities of the disposal group classified as held for sale in the balance sheet $ 7.0 (a) Represents credit balances netted in Accounts Receivable, due to the right of offset with partners (b) Represents amounts due to (from) partners for pension benefits associated with partner-operated plants Zimmer Station and Miami Fort Station's results are reflected within continuing operations in the Condensed Consolidated Statements of Operations. The combined income / (loss) from continuing operations before income tax for Zimmer Station and Miami Fort Station was $11.0 million and $1.4 million for the three months ended September 30, 2017 and 2016 , respectively, and $18.9 million and $(9.8) million for the nine months ended September 30, 2017 and 2016 , respectively. Zimmer Station and Miami Fort Station are included in the Generation segment. |
Subsidiaries [Member] | |
Long Lived Assets Held-for-sale [Line Items] | |
Discontinued Operations | Assets and Liabilities Held for Sale On April 21, 2017, DP&L and AES Ohio Generation entered into an Asset Purchase Agreement with subsidiaries of Dynegy Inc., for the sale of DP&L's undivided interests in the Zimmer Station and the Miami Fort Station for cash and the assumption of certain liabilities, including environmental liabilities. The cash purchase price is subject to adjustment at closing based on the amount of certain inventories, pre-paid amounts, employment benefits, insurance premiums, property taxes and other costs prior to closing. The sale is subject to approval by the FERC and is expected to close in the fourth quarter of 2017. Accordingly, the assets and liabilities of Zimmer Station and Miami Fort Station were classified as held for sale as of September 30, 2017, but the plants did not meet the criteria to be reported as discontinued operations. The following table summarizes the major classes of assets and liabilities classified as held for sale as of September 30, 2017: $ in millions September 30, 2017 Assets Accounts receivable, net (a) $ (11.2 ) Inventories 22.7 Property, plant & equipment, net 44.8 Other prepayments and current assets 0.7 Total assets of the disposal group classified as held for sale in the balance sheet $ 57.0 Liabilities Accounts payable $ 0.7 Accrued taxes 2.6 Asset retirement obligations 3.4 Other liabilities (b) (0.7 ) Total liabilities of the disposal group classified as held for sale in the balance sheet $ 6.0 (a) Represents credit balances netted in Accounts Receivable, due to the right of offset with partners (b) Represents amounts due to (from) partners for pension benefits associated with partner-operated plants Zimmer Station and Miami Fort Station's results are reflected within continuing operations in the Condensed Statements of Operations. The combined income / (loss) from continuing operations before income tax for Zimmer Station and Miami Fort Station was $11.0 million and $1.9 million for the three months ended September 30, 2017 and 2016 , respectively, and $18.9 million and $(333.5) million for the nine months ended September 30, 2017 and 2016 , respectively. Zimmer Station and Miami Fort Station are included in the Generation segment. |
Fixed-asset Impairment (Notes)
Fixed-asset Impairment (Notes) | 9 Months Ended |
Sep. 30, 2017 | |
Finite-Lived Intangible Assets [Line Items] | |
Asset Impairment Charges [Text Block] | Fixed-asset Impairments On March 17, 2017, the Board of Directors of DP&L approved the retirement of the two DP&L operated and co-owned electric generating stations; the Stuart Station coal-fired and diesel-fired generating units and the Killen Station coal-fired generating unit and combustion turbine (collectively, the “Facilities”) on or before June 1, 2018. The co-owners of these facilities agreed with DP&L to proceed with this plan of retirement. We performed a long-lived asset impairment analysis and determined that the carrying amounts of the Facilities were not recoverable. The asset groups of Stuart Station and Killen Station were determined to have fair values of $3.3 million and $7.9 million , respectively, using the discounted cash flows under the income approach. As a result, we recognized asset impairment expense of $39.1 million and $27.3 million for Stuart Station and Killen Station, respectively. Additionally, as a result of the decision to retire the Facilities by June 1, 2018, we concluded that inventory at these Facilities is considered obsolete. As a result, we recognized a loss on disposal of $9.8 million and $6.4 million for Stuart Station and Killen Station inventories, respectively, during the first quarter of 2017, which is recorded in Loss on asset disposal in the Condensed Consolidated Statements of Operations. During the second quarter of 2016, we tested the recoverability of our long-lived assets at certain of our generation facilities at DP&L . A ruling by the Supreme Court of Ohio on June 20, 2016, lower expectation of future capacity revenue resulting from the most recent PJM capacity auction and a higher anticipated level of environmental compliance costs resulting from third party studies were collectively determined to be an impairment indicator for these assets. We performed a long-lived asset impairment analysis and determined that the carrying amount of Killen and certain DP&L peaking generating facilities were not recoverable. The asset groups of Killen and these DP&L peaking generating facilities were determined to have fair values of $84.3 million and $5.2 million , respectively, using the discounted cash flows under the income approach. As a result, we recognized asset impairment expense of $230.8 million and $4.7 million for Killen and these DP&L peaking generating facilities, respectively. |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Asset Impairment Charges [Text Block] | Fixed-asset Impairments On March 17, 2017, the Board of Directors of DP&L approved the retirement of the two DP&L operated and co-owned electric generating stations; the Stuart Station coal-fired and diesel-fired generating units and the Killen Station coal-fired generating unit and combustion turbine (collectively, the “Facilities”) on or before June 1, 2018. The co-owners of these facilities agreed with DP&L to proceed with this plan of retirement. We performed a long-lived asset impairment analysis and determined that the carrying amounts of the Facilities were not recoverable. The asset groups of Stuart Station and Killen Station were determined to have fair values of $3.3 million and $7.9 million , respectively, using the discounted cash flows under the income approach. As a result, we recognized asset impairment expense of $39.0 million and $27.3 million for Stuart Station and Killen Station, respectively. Additionally, as a result of the decision to retire the Facilities by June 1, 2018, we concluded that inventory at these Facilities is considered obsolete. As a result, we recognized a loss on disposal of $9.8 million and $6.4 million for Stuart Station and Killen Station inventories, respectively, during the first quarter of 2017, which is recorded in Loss on asset disposal in the Condensed Statements of Operations. During the second quarter of 2016, we tested the recoverability of our long-lived assets at certain of our generation facilities at DP&L . A ruling by the Supreme Court of Ohio on June 20, 2016, lower expectation of future capacity revenue resulting from the most recent PJM capacity auction and a higher anticipated level of environmental compliance costs resulting from third party studies were collectively determined to be an impairment indicator for these assets. We performed a long-lived asset impairment analysis and determined that the carrying amount of the asset groups of Stuart, Killen and Zimmer were not recoverable. The asset groups of Stuart, Killen and Zimmer were determined to have fair values of $164.4 million , $84.3 million and $111.0 million , respectively, using the discounted cash flows under the income approach. As a result, we recognized asset impairment expense of $292.0 million , $246.2 million and $318.9 million for Stuart, Killen and Zimmer, respectively. |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Policy) | 9 Months Ended |
Sep. 30, 2017 | |
Significant Accounting Policies [Line Items] | |
Description of Business | Description of Business DPL is a diversified regional energy company organized in 1985 under the laws of Ohio. DPL has two reportable segments: the Transmission and Distribution segment and the Generation segment. See Note 11 – Business Segments for more information relating to these reportable segments. The terms “we,” “us,” “our” and “ours” are used to refer to DPL and its subsidiaries. DPL is an indirectly wholly-owned subsidiary of AES. DP&L is a public utility incorporated in 1911 under the laws of Ohio. Beginning in 2001, Ohio law gave Ohio consumers the right to choose the electric generation supplier from whom they purchase retail generation service; however, retail transmission and distribution services are still regulated. DP&L has the exclusive right to provide such transmission and distribution services to approximately 520,000 customers located in West Central Ohio. Additionally, DP&L procures retail SSO electric service on behalf of residential, commercial, industrial and governmental customers in a 6,000 square mile area of West Central Ohio. As of September 30, 2017, DP&L owned undivided interests in multiple coal-fired and peaking electric generating facilities as well as numerous transmission facilities. As of October 1, 2017, the DP&L -owned generating facilities were transferred to AES Ohio Generation, an affiliate of DP&L and wholly-owned subsidiary of DPL , through an asset contribution agreement to a subsidiary that was merged into AES Ohio Generation. Also, Stuart Station Unit 1 was retired on October 1, 2017. DP&L sources 100% of the generation for its SSO customers through a competitive bid process. Principal industries located in DP&L’s service territory include automotive, food processing, paper, plastic, health care, data management, manufacturing and defense. DP&L's distribution sales reflect the general economic conditions, seasonal weather patterns, the proliferation of energy efficiency and distributed renewable resources and the market price of electricity. From January 1, 2016 through September 30, 2017, DP&L sold all of its energy and capacity into the wholesale market. DPL’s other significant subsidiaries include AES Ohio Generation and MVIC, our captive insurance company that provides insurance services to DPL and our subsidiaries. AES Ohio Generation, as of September 30, 2017, owned and operated certain peaking generating facilities, and, as of October 1, 2017, owns those facilities plus additional coal-fired and peaking facilities previously owned by DP&L. AES Ohio Generation sells all of its energy and capacity into the wholesale market. DPL owns all of the common stock of its subsidiaries. DPL also has a wholly-owned business trust, DPL Capital Trust II, formed for the purpose of issuing trust capital securities to investors. DP&L’s electric transmission and distribution businesses are subject to rate regulation by federal and state regulators. Accordingly, DP&L applies the accounting standards for regulated operations to its electric transmission and distribution businesses and records regulatory assets when incurred costs are expected to be recovered in future customer rates, and regulatory liabilities when current cost recoveries in customer rates relate to expected future costs. DPL and its subsidiaries employed 1,074 people as of September 30, 2017 , of which 1,065 were employed by DP&L . As part of Generation Separation on October 1, 2017, DP&L generation employees became employees of AES Ohio Generation. Approximately 61% of all DP&L and AES Ohio Generation employees are under a collective bargaining agreement that was set to expire on October 31, 2017 . The Company and the union representing these employees have agreed to extend the current agreement through January 31, 2018, while continuing to negotiate a new agreement. We are unable to determine what impact a new agreement may have on our operations. |
Financial Statement Presentation | Financial Statement Presentation DPL’s Condensed Consolidated Financial Statements include the accounts of DPL and its wholly-owned subsidiaries except for DPL Capital Trust II, which is not consolidated, consistent with the provisions of GAAP. As of September 30, 2017, DP&L had undivided ownership interests in five coal-fired generating facilities, various peaking generating facilities and numerous transmission facilities, all of which are included in the financial statements at the lower of depreciated historical cost or fair value, if impaired. Operating revenues and expenses of these facilities are included on a pro rata basis in the corresponding lines in the Condensed Consolidated Statements of Operations. Certain immaterial amounts from prior periods have been reclassified to conform to the current period presentation. All material intercompany accounts and transactions are eliminated in consolidation. These financial statements have been prepared in accordance with GAAP for interim financial statements, the instructions of Form 10-Q and Regulation S-X. Accordingly, certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with GAAP have been omitted from this interim report. Therefore, our interim financial statements in this report should be read along with the annual financial statements included in our Form 10-K for the fiscal year ended December 31, 2016 . In the opinion of our management, the Condensed Consolidated Financial Statements presented in this report contain all adjustments necessary to fairly state our financial position as of September 30, 2017 ; our results of operations for the three and nine months ended September 30, 2017 and 2016 and our cash flows for the nine months ended September 30, 2017 and 2016 . Unless otherwise noted, all adjustments are normal and recurring in nature. Due to various factors, including, but not limited to, seasonal weather variations, the timing of outages of EGUs, changes in economic conditions involving commodity prices and competition, and other factors, interim results for the three and nine months ended September 30, 2017 may not be indicative of our results that will be realized for the full year ending December 31, 2017 . The preparation of financial statements in conformity with GAAP requires us to make estimates and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the revenues and expenses of the periods reported. Actual results could differ from these estimates. Significant items subject to such estimates and judgments include: the carrying value of property, plant and equipment; unbilled revenues; the valuation of derivative instruments; the valuation of insurance and claims liabilities; the valuation of allowances for receivables and deferred income taxes; regulatory assets and liabilities; liabilities recorded for income tax exposures; litigation; contingencies; the valuation of AROs; and assets and liabilities related to employee benefits. Accounting for Taxes Collected from Customers and Remitted to Governmental Authorities |
Accounting for Taxes Collected from Customers and Remitted to Governmental Authorities | Accounting for Taxes Collected from Customers and Remitted to Governmental Authorities DP&L collects certain excise taxes levied by state or local governments from its customers. These taxes are accounted for on a net basis and not included in revenue. The amounts of such taxes collected for the three months ended September 30, 2017 and 2016 were $13.0 million and $14.4 million, respectively. The amounts of such taxes collected for the nine months ended September 30, 2017 and 2016 were $36.9 million and $38.9 million, respectively. |
Recently Issued Accounting Standards | New Accounting Pronouncements The following table provides a brief description of recent accounting pronouncements that could have a material impact on our consolidated financial statements: Accounting Standard Description Date of Adoption Effect on the financial statements upon adoption New Accounting Standards Adopted 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting The standard simplifies the following aspects of accounting for share-based payments awards: accounting for income taxes, classification of excess tax benefits on the statement of cash flows, forfeitures, statutory tax withholding requirements, classification of awards as either equity or liabilities and classification of employee taxes paid on statement of cash flows when an employer withholds shares for tax-withholding purposes. January 1, 2017. The primary effect of adoption was the recognition of excess tax benefits in our provision for income taxes in the period when the awards vest or are settled, rather than in paid-in-capital in the period when the excess tax benefits are realized. The adoption of this standard did not have a material impact on the consolidated financial statements. Accounting Standard Description Date of Adoption Effect on the financial statements upon adoption New Accounting Standards Issued But Not Yet Effective 2017-12, Derivatives and Hedging (Topic 815): Targeted improvements to Accounting for Hedging Activities The standard updates the hedge accounting model in ASC 815 to expand the ability to hedge risk, reduce complexity and ease certain documentation and assessment requirements. It also eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. Transition method: modified retrospective approach and prospective for presentation and disclosures. January 1, 2019. We are currently evaluating the impact of adopting the standard on our consolidated financial statements and if we would early adopt it. 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities This standard shortens the period of amortization of the premium on certain callable debt securities to the earliest call date. January 1, 2019. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2017-07, Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost This standard changes the presentation of non-service cost expense associated with defined benefit plans and updates the guidance so that only the service cost component will be eligible for capitalization. January 1, 2018. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Topic 610-20) This standard clarifies the scope and application of ASC 610-20 on the sale, transfer, and derecognition of nonfinancial assets and in substance nonfinancial assets to non-customers, including partial sales. It also clarifies that the derecognition of businesses is under scope of ASC 810. January 1, 2018. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. We will adopt the standard on January 1, 2018 and plan to use the modified retrospective approach. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business This standard provides guidance to assist the entities with evaluating when a set of transferred assets and activities is a business. January 1, 2018. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force) This standard requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. January 1, 2018. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory This standard requires that an entity recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. January 1, 2018. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments This standard updates the impairment model for financial assets measured at amortized cost to an expected loss model rather than an incurred loss model. It also allows for the presentation of credit losses on available-for-sale debt securities as an allowance rather than a write down. January 1, 2020. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. Accounting Standard Description Date of Adoption Effect on the financial statements upon adoption 2016-02, Leases (Topic 842) This standard requires lessees to recognize assets and liabilities for most leases but recognize expenses in a manner similar to today’s accounting. For lessors, the guidance modifies the lease classification criteria and the accounting for sales-type and direct financing leases. The guidance also eliminates today’s real estate-specific provisions. January 1, 2019. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. We intend to adopt the standard as of January 1, 2019. 2014-09, 2015-14, 2016-08, 2016-10, 2016-12, 2016-20, 2017-05, 2017-13 Revenue from Contracts with Customers (Topic 606) See discussion of the ASUs below. January 1, 2018. We will adopt the standard on January 1, 2018; see below for the evaluation of the impact of its adoption on the consolidated financial statements. |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Significant Accounting Policies [Line Items] | |
Description of Business | Description of Business DP&L is a public utility incorporated in 1911 under the laws of Ohio. Beginning in 2001, Ohio law gave Ohio consumers the right to choose the electric generation supplier from whom they purchase retail generation service; however, retail transmission and distribution services are still regulated. DP&L has the exclusive right to provide such transmission and distribution services to approximately 520,000 customers located in West Central Ohio. Additionally, DP&L procures retail SSO electric service on behalf of residential, commercial, industrial and governmental customers in a 6,000 square mile area of West Central Ohio. As of September 30, 2017, DP&L owned undivided interests in multiple coal-fired and peaking electric generating facilities as well as numerous transmission facilities. As of October 1, 2017, the DP&L -owned generating facilities were transferred to AES Ohio Generation, an affiliate of DP&L and wholly-owned subsidiary of DPL , through an asset contribution agreement to a subsidiary that was merged into AES Ohio Generation. With the October 1, 2017 transfer of DP&L's generation assets to a separate DPL subsidiary, DP&L has discontinued its generation business operations. Also, Stuart Station Unit 1 was retired on October 1, 2017. DP&L sources 100% of the generation for its SSO customers through a competitive bid process. Principal industries located in DP&L’s service territory include automotive, food processing, paper, plastic, health care, data management, manufacturing and defense. DP&L's distribution sales reflect the general economic conditions, seasonal weather patterns, the proliferation of energy efficiency and distributed renewable resources and the market price of electricity. From January 1, 2016 through September 30, 2017, DP&L sold all of its energy and capacity into the wholesale market. DP&L is a subsidiary of DPL . Through September 30, 2017, DP&L had two reportable segments: the Transmission and Distribution (T&D) segment and the Generation segment. See Note 12 – Business Segments for more information relating to these reportable segments. DP&L’s electric transmission and distribution businesses are subject to rate regulation by federal and state regulators. Accordingly, DP&L applies the accounting standards for regulated operations to its electric transmission and distribution businesses and records regulatory assets when incurred costs are expected to be recovered in future customer rates, and regulatory liabilities when current cost recoveries in customer rates relate to expected future costs. DP&L employed 1,065 people as of September 30, 2017 . As part of Generation Separation on October 1, 2017, DP&L generation employees became employees of AES Ohio Generation, an affiliate of DP&L and wholly-owned subsidiary of DPL . Approximately 61% of DP&L and AES Ohio Generation employees are under a collective bargaining agreement that was set to expire on October 31, 2017 . The Company and the union representing these employees have agreed to extend the current agreement through January 31, 2018, while continuing to negotiate a new agreement. We are unable to determine what impact a new agreement may have on our operations. |
Financial Statement Presentation | Financial Statement Presentation DP&L does not have any subsidiaries. As of September 30, 2017, DP&L had undivided ownership interests in five coal-fired generating facilities, various peaking generating facilities and numerous transmission facilities, all of which are included in the financial statements at the lower of depreciated historical cost or fair value, if impaired. Operating revenues and expenses of these facilities are included on a pro rata basis in the corresponding lines in the Condensed Statements of Operations. Certain immaterial amounts from prior periods have been reclassified to conform to the current period presentation. In the current period, we have reclassified the presentation of the December 2016 dividend payment which was originally recorded as a charge to Accumulated deficit and is now presented as a charge to Other paid-in capital. This reclassification was to prospectively correct an immaterial error. These financial statements have been prepared in accordance with GAAP for interim financial statements, the instructions of Form 10-Q and Regulation S-X. Accordingly, certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with GAAP have been omitted from this interim report. Therefore, our interim financial statements in this report should be read along with the annual financial statements included in our Form 10-K for the fiscal year ended December 31, 2016 . In the opinion of our management, the Condensed Financial Statements presented in this report contain all adjustments necessary to fairly state our financial position as of September 30, 2017 ; our results of operations for the three and nine months ended September 30, 2017 and 2016 and our cash flows for the nine months ended September 30, 2017 and 2016 . Unless otherwise noted, all adjustments are normal and recurring in nature. Due to various factors, including, but not limited to, seasonal weather variations, the timing of outages of EGUs, changes in economic conditions involving commodity prices and competition, and other factors, interim results for the three and nine months ended September 30, 2017 may not be indicative of our results that will be realized for the full year ending December 31, 2017 . The preparation of financial statements in conformity with GAAP requires us to make estimates and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the revenues and expenses of the periods reported. Actual results could differ from these estimates. Significant items subject to such estimates and judgments include: the carrying value of property, plant and equipment; unbilled revenues; the valuation of derivative instruments; the valuation of insurance and claims liabilities; the valuation of allowances for receivables and deferred income taxes; regulatory assets and liabilities; liabilities recorded for income tax exposures; litigation; contingencies; the valuation of AROs; and assets and liabilities related to employee benefits. |
Accounting for Taxes Collected from Customers and Remitted to Governmental Authorities | Accounting for Taxes Collected from Customers and Remitted to Governmental Authorities DP&L collects certain excise taxes levied by state or local governments from its customers. These taxes are accounted for on a net basis and not included in revenue. The amounts of such taxes collected for the three months ended September 30, 2017 and 2016 were $13.0 million and $14.4 million, respectively. The amounts of such taxes collected for the nine months ended September 30, 2017 and 2016 were $36.9 million and $38.9 million, respectively. |
Recently Issued Accounting Standards | New Accounting Pronouncements The following table provides a brief description of recent accounting pronouncements that could have a material impact on our financial statements: Accounting Standard Description Date of Adoption Effect on the financial statements upon adoption New Accounting Standards Adopted 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting The standard simplifies the following aspects of accounting for share-based payments awards: accounting for income taxes, classification of excess tax benefits on the statement of cash flows, forfeitures, statutory tax withholding requirements, classification of awards as either equity or liabilities and classification of employee taxes paid on statement of cash flows when an employer withholds shares for tax-withholding purposes. January 1, 2017. The primary effect of adoption was the recognition of excess tax benefits in our provision for income taxes in the period when the awards vest or are settled, rather than in paid-in-capital in the period when the excess tax benefits are realized. The adoption of this standard did not have a material impact on the financial statements. Accounting Standard Description Date of Adoption Effect on the financial statements upon adoption New Accounting Standards Issued But Not Yet Effective 2017-12, Derivatives and Hedging (Topic 815): Targeted improvements to Accounting for Hedging Activities The standard updates the hedge accounting model in ASC 815 to expand the ability to hedge risk, reduce complexity and ease certain documentation and assessment requirements. It also eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. January 1, 2019. We are currently evaluating the impact of adopting the standard on our financial statements and if we would early adopt it. 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities This standard shortens the period of amortization of the premium on certain callable debt securities to the earliest call date. January 1, 2019. We are currently evaluating the impact of adopting the standard on our financial statements. 2017-07, Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost This standard changes the presentation of non-service cost expense associated with defined benefit plans and updates the guidance so that only the service cost component will be eligible for capitalization. January 1, 2018. We are currently evaluating the impact of adopting the standard on our financial statements. 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Topic 610-20) This standard clarifies the scope and application of ASC 610-20 on the sale, transfer, and derecognition of nonfinancial assets and in substance nonfinancial assets to non-customers, including partial sales. It also clarifies that the derecognition of businesses is under scope of ASC 810. January 1, 2018. We will adopt the standard on January 1, 2018; see below for the evaluation of the impact of its adoption on the financial statements. We will adopt the standard on January 1, 2018 and plan to use the modified retrospective approach. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business This standard provides guidance to assist the entities with evaluating when a set of transferred assets and activities is a business. January 1, 2018. We are currently evaluating the impact of adopting the standard on our financial statements. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force) This standard requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. January 1, 2018. We are currently evaluating the impact of adopting the standard on our financial statements. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory This standard requires that an entity recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. January 1, 2018. We are currently evaluating the impact of adopting the standard on our financial statements. Accounting Standard Description Date of Adoption Effect on the financial statements upon adoption 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments This standard updates the impairment model for financial assets measured at amortized cost to an expected loss model rather than an incurred loss model. It also allows for the presentation of credit losses on available-for-sale debt securities as an allowance rather than a write down. January 1, 2020. We are currently evaluating the impact of adopting the standard on our financial statements. 2016-02, Leases (Topic 842) This standard requires lessees to recognize assets and liabilities for most leases but recognize expenses in a manner similar to today’s accounting. For lessors, the guidance modifies the lease classification criteria and the accounting for sales-type and direct financing leases. The guidance also eliminates today’s real estate-specific provisions. January 1, 2019. We are currently evaluating the impact of adopting the standard on our financial statements. We intend to adopt the standard as of January 1, 2019. 2014-09, 2015-14, 2016-08, 2016-10, 2016-12, 2016-20, 2017-05, 2017-13 Revenue from Contracts with Customers (Topic 606) See discussion of the ASUs below. January 1, 2018. We will adopt the standard on January 1, 2018; see below for the evaluation of the impact of its adoption on the financial statements. ASU 2014-09 and its subsequent corresponding updates provide the principles an entity must apply to measure and recognize revenue. The core principle is that an entity shall recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Amendments to the standard were issued that provide further clarification of the principle and to provide certain transition expedients. The standard will replace most existing revenue recognition guidance in GAAP. In 2016, we established a cross-functional implementation team and are in the process of evaluating changes to our business processes, systems and controls to support recognition and disclosure under the new standard. At this time, we do not expect any significant impact on our financial systems or a material change to controls as a result of the implementation of the new revenue recognition standard. Given the complexity and diversity of our non-regulated arrangements, we are assessing the standard on a contract-by-contract basis and are in the process of completing the contract assessments by applying interpretations reached during 2017 on key issues. These issues include the application of the practical expedient for measuring progress towards satisfaction of a performance obligation, when variable quantities would be considered variable consideration versus an option to acquire additional goods and services and how to allocate variable consideration to one or more, but not all, distinct goods or services promised in a series of distinct goods or services that forms part of a single performance obligation. We will continue our work to complete the assessment of the full population of contracts and determine the overall impact to the consolidated financial statements. The standard requires retrospective application and allows either a full retrospective adoption in which all periods are presented under the new standard or a modified retrospective approach in which the cumulative effect of initially applying the guidance is recognized at the date of initial application. Although we had previously been working toward adopting the standard using the full retrospective method, given the limited situations where revenue recognized under ASC 606 differs from that recognized under ASC 605, we now expect to use the modified retrospective approach. However, we will continue to assess this conclusion which is dependent on the final impact to the financial statements. We are continuing to work with various non-authoritative industry groups, and monitoring the FASB and Transition Resource Group activity, as we finalize our accounting policy on these and other industry specific interpretative issues which is expected in 2017. |
Summary of Significant Accoun24
Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Related Party Transaction [Line Items] | |
Schedule of New Accounting Pronouncements | The following table provides a brief description of recent accounting pronouncements that could have a material impact on our consolidated financial statements: Accounting Standard Description Date of Adoption Effect on the financial statements upon adoption New Accounting Standards Adopted 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting The standard simplifies the following aspects of accounting for share-based payments awards: accounting for income taxes, classification of excess tax benefits on the statement of cash flows, forfeitures, statutory tax withholding requirements, classification of awards as either equity or liabilities and classification of employee taxes paid on statement of cash flows when an employer withholds shares for tax-withholding purposes. January 1, 2017. The primary effect of adoption was the recognition of excess tax benefits in our provision for income taxes in the period when the awards vest or are settled, rather than in paid-in-capital in the period when the excess tax benefits are realized. The adoption of this standard did not have a material impact on the consolidated financial statements. Accounting Standard Description Date of Adoption Effect on the financial statements upon adoption New Accounting Standards Issued But Not Yet Effective 2017-12, Derivatives and Hedging (Topic 815): Targeted improvements to Accounting for Hedging Activities The standard updates the hedge accounting model in ASC 815 to expand the ability to hedge risk, reduce complexity and ease certain documentation and assessment requirements. It also eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. Transition method: modified retrospective approach and prospective for presentation and disclosures. January 1, 2019. We are currently evaluating the impact of adopting the standard on our consolidated financial statements and if we would early adopt it. 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities This standard shortens the period of amortization of the premium on certain callable debt securities to the earliest call date. January 1, 2019. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2017-07, Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost This standard changes the presentation of non-service cost expense associated with defined benefit plans and updates the guidance so that only the service cost component will be eligible for capitalization. January 1, 2018. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Topic 610-20) This standard clarifies the scope and application of ASC 610-20 on the sale, transfer, and derecognition of nonfinancial assets and in substance nonfinancial assets to non-customers, including partial sales. It also clarifies that the derecognition of businesses is under scope of ASC 810. January 1, 2018. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. We will adopt the standard on January 1, 2018 and plan to use the modified retrospective approach. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business This standard provides guidance to assist the entities with evaluating when a set of transferred assets and activities is a business. January 1, 2018. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force) This standard requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. January 1, 2018. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory This standard requires that an entity recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. January 1, 2018. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments This standard updates the impairment model for financial assets measured at amortized cost to an expected loss model rather than an incurred loss model. It also allows for the presentation of credit losses on available-for-sale debt securities as an allowance rather than a write down. January 1, 2020. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. Accounting Standard Description Date of Adoption Effect on the financial statements upon adoption 2016-02, Leases (Topic 842) This standard requires lessees to recognize assets and liabilities for most leases but recognize expenses in a manner similar to today’s accounting. For lessors, the guidance modifies the lease classification criteria and the accounting for sales-type and direct financing leases. The guidance also eliminates today’s real estate-specific provisions. January 1, 2019. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. We intend to adopt the standard as of January 1, 2019. 2014-09, 2015-14, 2016-08, 2016-10, 2016-12, 2016-20, 2017-05, 2017-13 Revenue from Contracts with Customers (Topic 606) See discussion of the ASUs below. January 1, 2018. We will adopt the standard on January 1, 2018; see below for the evaluation of the impact of its adoption on the consolidated financial statements. |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Related Party Transaction [Line Items] | |
Schedule of New Accounting Pronouncements | The following table provides a brief description of recent accounting pronouncements that could have a material impact on our financial statements: Accounting Standard Description Date of Adoption Effect on the financial statements upon adoption New Accounting Standards Adopted 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting The standard simplifies the following aspects of accounting for share-based payments awards: accounting for income taxes, classification of excess tax benefits on the statement of cash flows, forfeitures, statutory tax withholding requirements, classification of awards as either equity or liabilities and classification of employee taxes paid on statement of cash flows when an employer withholds shares for tax-withholding purposes. January 1, 2017. The primary effect of adoption was the recognition of excess tax benefits in our provision for income taxes in the period when the awards vest or are settled, rather than in paid-in-capital in the period when the excess tax benefits are realized. The adoption of this standard did not have a material impact on the financial statements. Accounting Standard Description Date of Adoption Effect on the financial statements upon adoption New Accounting Standards Issued But Not Yet Effective 2017-12, Derivatives and Hedging (Topic 815): Targeted improvements to Accounting for Hedging Activities The standard updates the hedge accounting model in ASC 815 to expand the ability to hedge risk, reduce complexity and ease certain documentation and assessment requirements. It also eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. January 1, 2019. We are currently evaluating the impact of adopting the standard on our financial statements and if we would early adopt it. 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities This standard shortens the period of amortization of the premium on certain callable debt securities to the earliest call date. January 1, 2019. We are currently evaluating the impact of adopting the standard on our financial statements. 2017-07, Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost This standard changes the presentation of non-service cost expense associated with defined benefit plans and updates the guidance so that only the service cost component will be eligible for capitalization. January 1, 2018. We are currently evaluating the impact of adopting the standard on our financial statements. 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Topic 610-20) This standard clarifies the scope and application of ASC 610-20 on the sale, transfer, and derecognition of nonfinancial assets and in substance nonfinancial assets to non-customers, including partial sales. It also clarifies that the derecognition of businesses is under scope of ASC 810. January 1, 2018. We will adopt the standard on January 1, 2018; see below for the evaluation of the impact of its adoption on the financial statements. We will adopt the standard on January 1, 2018 and plan to use the modified retrospective approach. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business This standard provides guidance to assist the entities with evaluating when a set of transferred assets and activities is a business. January 1, 2018. We are currently evaluating the impact of adopting the standard on our financial statements. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force) This standard requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. January 1, 2018. We are currently evaluating the impact of adopting the standard on our financial statements. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory This standard requires that an entity recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. January 1, 2018. We are currently evaluating the impact of adopting the standard on our financial statements. Accounting Standard Description Date of Adoption Effect on the financial statements upon adoption 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments This standard updates the impairment model for financial assets measured at amortized cost to an expected loss model rather than an incurred loss model. It also allows for the presentation of credit losses on available-for-sale debt securities as an allowance rather than a write down. January 1, 2020. We are currently evaluating the impact of adopting the standard on our financial statements. 2016-02, Leases (Topic 842) This standard requires lessees to recognize assets and liabilities for most leases but recognize expenses in a manner similar to today’s accounting. For lessors, the guidance modifies the lease classification criteria and the accounting for sales-type and direct financing leases. The guidance also eliminates today’s real estate-specific provisions. January 1, 2019. We are currently evaluating the impact of adopting the standard on our financial statements. We intend to adopt the standard as of January 1, 2019. 2014-09, 2015-14, 2016-08, 2016-10, 2016-12, 2016-20, 2017-05, 2017-13 Revenue from Contracts with Customers (Topic 606) See discussion of the ASUs below. January 1, 2018. We will adopt the standard on January 1, 2018; see below for the evaluation of the impact of its adoption on the financial statements. |
Supplemental Financial Inform25
Supplemental Financial Information (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Supplemental Financial Information [Line Items] | |
Schedule of Supplemental Financial Information | September 30, 2017 and December 31, 2016 : September 30, December 31, $ in millions 2017 2016 Accounts receivable, net: Unbilled revenue $ 14.4 $ 43.0 Customer receivables 74.2 73.9 Amounts due from partners in jointly-owned plants 17.8 12.7 Other 6.1 6.7 Provision for uncollectible accounts (1.1 ) (1.2 ) Total accounts receivable, net $ 111.4 $ 135.1 Inventories, at average cost: Fuel and limestone $ 16.8 $ 38.9 Plant materials and supplies 10.9 36.6 Other 1.0 1.7 Total inventories, at average cost $ 28.7 $ 77.2 |
Reclassification out of Accumulated Other Comprehensive Income | The amounts reclassified out of Accumulated Other Comprehensive Income / (Loss) by component during the three and nine months ended September 30, 2017 and 2016 are as follows: Details about Accumulated Other Comprehensive Income / (Loss) components Affected line item in the Condensed Consolidated Statements of Operations Three months ended Nine months ended September 30, September 30, $ in millions 2017 2016 2017 2016 Gains and losses on Available-for-sale securities activity (Note 5): Other income $ — $ — $ (0.1 ) $ — Gains and losses on cash flow hedges (Note 6): Interest expense (0.2 ) (0.2 ) (0.8 ) (0.7 ) Revenue (4.2 ) (9.3 ) (12.5 ) (46.6 ) Purchased power 0.7 1.0 4.0 9.1 Total before income taxes (3.7 ) (8.5 ) (9.3 ) (38.2 ) Tax expense 1.3 3.0 3.3 13.8 Net of income taxes (2.4 ) (5.5 ) (6.0 ) (24.4 ) Amortization of defined benefit pension items (Note 9): Operation and maintenance — — 1.4 0.2 Tax benefit — — (0.5 ) (0.1 ) Net of income taxes — — 0.9 0.1 Total reclassifications for the period, net of income taxes $ (2.4 ) $ (5.5 ) $ (5.2 ) $ (24.3 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income / (Loss) during the nine months ended September 30, 2017 are as follows: $ in millions Gains / (losses) on available-for-sale securities Gains / (losses) on cash flow hedges Change in unfunded pension obligation Total Balance at January 1, 2017 $ 0.6 $ 13.1 $ (13.4 ) $ 0.3 Other comprehensive income / (loss) before reclassifications 0.4 12.1 (1.5 ) 11.0 Amounts reclassified from accumulated other comprehensive income / (loss) (0.1 ) (6.0 ) 0.9 (5.2 ) Net current period other comprehensive income / (loss) 0.3 6.1 (0.6 ) 5.8 Balance at September 30, 2017 $ 0.9 $ 19.2 $ (14.0 ) $ 6.1 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Supplemental Financial Information [Line Items] | |
Schedule of Supplemental Financial Information | September 30, 2017 and December 31, 2016 : September 30, December 31, $ in millions 2017 2016 Accounts receivable, net: Unbilled revenue $ 14.4 $ 43.0 Customer receivables 68.7 71.2 Amounts due from affiliates 2.3 2.9 Amounts due from partners in jointly-owned plants 17.8 12.7 Other 5.8 6.0 Provision for uncollectible accounts (1.1 ) (1.2 ) Total accounts receivable, net $ 107.9 $ 134.6 Inventories, at average cost: Fuel and limestone $ 16.8 $ 38.8 Plant materials and supplies 9.1 35.3 Other 1.0 1.7 Total inventories, at average cost $ 26.9 $ 75.8 |
Reclassification out of Accumulated Other Comprehensive Income | The amounts reclassified out of Accumulated Other Comprehensive Income / (Loss) by component during the three and nine months ended September 30, 2017 and 2016 are as follows: Details about Accumulated Other Comprehensive Income / (Loss) components Affected line item in the Condensed Consolidated Statements of Operations Three months ended Nine months ended September 30, September 30, $ in millions 2017 2016 2017 2016 Gains and losses on Available-for-sale securities activity (Note 5): Other income $ — $ — $ (0.1 ) $ — Gains and losses on cash flow hedges (Note 6): Interest expense (0.3 ) (0.3 ) (0.8 ) (0.9 ) Revenue (4.2 ) (9.3 ) (12.5 ) (46.5 ) Purchased power 0.7 1.0 4.0 9.1 Total before income taxes (3.8 ) (8.6 ) (9.3 ) (38.3 ) Tax expense 1.4 3.0 3.3 13.5 Net of income taxes (2.4 ) (5.6 ) (6.0 ) (24.8 ) Amortization of defined benefit pension items (Note 9): Operation and maintenance 1.1 1.1 5.9 3.3 Tax benefit (0.4 ) (0.4 ) (2.1 ) (1.6 ) Net of income taxes 0.7 0.7 3.8 1.7 Total reclassifications for the period, net of income taxes $ (1.7 ) $ (4.9 ) $ (2.3 ) $ (23.1 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) | The changes in the components of Accumulated Other Comprehensive Income / (Loss) during the nine months ended September 30, 2017 are as follows: $ in millions Gains / (losses) on available-for-sale securities Gains / (losses) on cash flow hedges Change in unfunded pension obligation Total Balance at January 1, 2017 $ 0.7 $ (2.7 ) $ (40.5 ) $ (42.5 ) Other comprehensive income / (loss) before reclassifications 0.4 12.1 (1.6 ) 10.9 Amounts reclassified from accumulated other comprehensive income / (loss) (0.1 ) (6.0 ) 3.8 (2.3 ) Net current period other comprehensive income 0.3 6.1 2.2 8.6 Balance at September 30, 2017 $ 1.0 $ 3.4 $ (38.3 ) $ (33.9 ) |
Property, Plant and Equipment26
Property, Plant and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Property, Plant and Equipment [Line Items] | |
Schedule of Jointly Owned Utility Plants [Table Text Block] | DP&L’s undivided ownership interest in such facilities at September 30, 2017 , was as follows: DP&L Share DPL Carrying Value Ownership Summer Production Capacity Gross Plant Accumulated Construction Jointly-owned production units Conesville - Unit 4 16.5 129 $ 0.5 $ 0.5 $ 2.3 Killen - Unit 2 67.0 402 8.5 4.1 — Miami Fort - Units 7 and 8 (a) 36.0 368 31.3 3.3 5.1 Stuart - Units 2 through 4 35.0 606 0.7 0.7 — Zimmer - Unit 1 (a) 28.1 371 21.3 15.3 5.2 Transmission (at varying percentages) 43.2 11.5 — Total 1,876 $ 105.5 $ 35.4 $ 12.6 (a) DP&L has entered into an agreement to sell its interest in these units. See Note 13 – Assets and Liabilities Held for Sale for additional information. |
Schedule of Change in Asset Retirement Obligation [Table Text Block] | Changes in the Liability for Generation AROs $ in millions Balance at January 1, 2017 $ 138.8 Additions 0.1 Revisions to cash flow and timing estimates (4.8 ) Accretion expense 2.9 Settlements (0.1 ) Reclassified to Liabilities held for sale (4.4 ) Balance at September 30, 2017 $ 132.5 See Note 5 – Fair Value for further discussion on changes to our AROs. |
Subsidiaries [Member] | |
Property, Plant and Equipment [Line Items] | |
Schedule of Jointly Owned Utility Plants [Table Text Block] | DP&L’s undivided ownership interest in such facilities at September 30, 2017 , was as follows: DP&L Share DP&L Carrying Value Ownership Summer Production Capacity Gross Plant Accumulated Construction Jointly-owned production units Conesville - Unit 4 16.5 129 $ 0.5 $ 0.5 $ 2.3 Killen - Unit 2 67.0 402 8.5 4.1 — Miami Fort - Units 7 and 8 (a) 36.0 368 31.3 3.3 5.1 Stuart - Units 2 through 4 35.0 606 0.7 0.7 — Zimmer - Unit 1 (a) 28.1 371 21.3 15.3 5.2 Transmission (at varying percentages) 98.6 66.9 — Total 1,876 $ 160.9 $ 90.8 $ 12.6 (a) DP&L has entered into an agreement to sell its interest in these units. See Note 13 – Assets and Liabilities Held for Sale for additional information. |
Schedule of Change in Asset Retirement Obligation [Table Text Block] | Changes in the Liability for Generation AROs $ in millions Balance at January 1, 2017 $ 135.2 Additions 0.1 Revisions to cash flow and timing estimates (4.8 ) Accretion expense 4.0 Settlements (0.1 ) Reclassified to Liabilities held for sale (3.4 ) Balance at September 30, 2017 $ 131.0 |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value and Cost Of Non-Derivative Instruments | The following table presents the fair value, carrying value and cost of our non-derivative instruments at September 30, 2017 and December 31, 2016 . Information about the fair value of our derivative instruments can be found in Note 6 – Derivative Instruments and Hedging Activities . September 30, 2017 December 31, 2016 $ in millions Cost Fair Value Cost Fair Value Assets Money market funds $ 0.4 $ 0.4 $ 0.4 $ 0.4 Equity securities 2.6 4.1 2.4 3.4 Debt securities 4.2 4.3 4.4 4.4 Hedge funds 0.1 0.1 — 0.1 Real estate — — 0.3 0.3 Tangible assets 0.1 0.1 0.1 0.1 Total Assets $ 7.4 $ 9.0 $ 7.6 $ 8.7 Carrying Value Fair Value Carrying Value Fair Value Liabilities Long-term debt (a) $ 1,741.6 $ 1,843.8 $ 1,858.0 $ 1,907.7 |
Fair Value of Assets and Liabilities Measured on Recurring Basis | The fair value of assets and liabilities at September 30, 2017 and December 31, 2016 and the respective category within the fair value hierarchy for DPL was determined as follows: Assets and Liabilities at Fair Value Level 1 Level 2 Level 3 $ in millions Fair value at September 30, 2017 (a) Based on Quoted Prices in Active Markets Other Observable Inputs Unobservable Inputs Assets Master Trust assets Money market funds $ 0.4 $ 0.4 $ — $ — Equity securities 4.1 — 4.1 — Debt securities 4.3 — 4.3 — Hedge funds 0.1 — 0.1 — Tangible assets 0.1 — 0.1 — Total Master Trust assets 9.0 0.4 8.6 — Derivative Assets Forward power contracts 10.8 — 10.8 — Interest rate hedges 0.9 — 0.9 — Natural gas — — — — Total Derivative assets 11.7 — 11.7 — Total Assets $ 20.7 $ 0.4 $ 20.3 $ — Liabilities Derivative Liabilities Interest rate hedges $ — $ — $ — $ — FTRs 0.5 — — 0.5 Natural gas futures 0.8 0.8 — — Forward power contracts 8.1 — 8.1 — Total Derivative liabilities 9.4 0.8 8.1 0.5 Long-term debt (b) 1,843.8 — 1,825.9 17.9 Total Liabilities $ 1,853.2 $ 0.8 $ 1,834.0 $ 18.4 (a) Includes credit valuation adjustment (b) Amounts exclude immaterial capital lease obligations Assets and Liabilities at Fair Value Level 1 Level 2 Level 3 $ in millions Fair value at December 31, 2016 (a) Based on Quoted Prices in Active Markets Other Observable Inputs Unobservable Inputs Assets Master Trust assets Money market funds $ 0.4 $ 0.4 $ — $ — Equity securities 3.4 — 3.4 — Debt securities 4.4 — 4.4 — Hedge funds 0.1 — 0.1 — Real estate 0.3 — 0.3 — Tangible assets 0.1 — 0.1 — Total Master Trust assets 8.7 0.4 8.3 — Derivative assets Forward power contracts 19.5 — 19.5 — Interest rate hedges 1.2 — 1.2 — FTRs 0.1 — — 0.1 Total Derivative assets 20.8 — 20.7 0.1 Total Assets $ 29.5 $ 0.4 $ 29.0 $ 0.1 Liabilities Derivative liabilities Interest rate hedges $ 0.7 $ — $ 0.7 $ — Forward power contracts 28.5 — 26.0 2.5 Total Derivative liabilities 29.2 — 26.7 2.5 Long-term debt (b) 1,907.7 — 1,889.7 18.0 Total Liabilities $ 1,936.9 $ — $ 1,916.4 $ 20.5 |
Fair Value Measurements, Nonrecurring [Table Text Block] | When evaluating impairment of long-lived assets, we measure fair value using the applicable fair value measurement guidance. Impairment expense is measured by comparing the fair value at the evaluation date to the carrying amount. The following table summarizes Long-lived assets measured at fair value on a non-recurring basis during the periods and their level within the fair value hierarchy: Carrying Fair Value Gross Amount (b) Level 1 Level 2 Level 3 Loss $ in millions Nine months ended September 30, 2017 Assets Long-lived assets (a) Stuart $ 42.4 $ — $ — $ 3.3 $ 39.1 Killen $ 35.2 $ — $ — $ 7.9 $ 27.3 $ 66.4 Nine months ended September 30, 2016 Assets Long-lived assets (a) Killen $ 315.1 $ — $ — $ 84.3 $ 230.8 DP&L peaking facilities $ 9.9 $ — $ — $ 5.2 $ 4.7 $ 235.5 (a) See Note 14 – Fixed-asset Impairments for further information (b) Carrying amount at date of valuation |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | The following summarizes the significant unobservable inputs used in the Level 3 measurement on a non-recurring basis during the nine months ended September 30, 2017: $ in millions Fair value Valuation technique Unobservable input Weighted average Long-lived assets held and used: Stuart $ 3.3 Discounted cash flow Pre-tax operating margin 10.0 % Weighted-average cost of capital 7.0 % Killen $ 7.9 Discounted cash flow Pre-tax operating margin 22.0 % Weighted-average cost of capital 7.0 % The following summarizes the significant unobservable inputs used in the Level 3 measurement on a non-recurring basis during the nine months ended September 30, 2016: $ in millions Fair value Valuation technique Unobservable input Weighted average Long-lived assets held and used: Killen $ 84.3 Discounted cash flow Annual revenue growth -11.0% to 13.0% (2.0%) Annual pre-tax operating margin -50.0% to 67.0% (6.0%) Weighted-average cost of capital 11.0% DP&L peaking facilities $ 5.2 Discounted cash flow Annual revenue growth -22.0% to 17.0% (-3.0%) Annual pre-tax operating margin -29.0% to 24.0% (-4.0%) Weighted-average cost of capital 7.0% |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value and Cost Of Non-Derivative Instruments | The following table presents the fair value, carrying value and cost of our non-derivative instruments at September 30, 2017 and December 31, 2016 . Information about the fair value of our derivative instruments can be found in Note 6 – Derivative Instruments and Hedging Activities . September 30, 2017 December 31, 2016 $ in millions Cost Fair Value Cost Fair Value Assets Money market funds $ 0.4 $ 0.4 $ 0.4 $ 0.4 Equity securities 2.6 4.1 2.4 3.4 Debt securities 4.2 4.3 4.4 4.4 Hedge funds 0.1 0.1 — 0.1 Real estate — — 0.3 0.3 Tangible assets 0.1 0.1 0.1 0.1 Total assets $ 7.4 $ 9.0 $ 7.6 $ 8.7 Carrying Value Fair Value Carrying Value Fair Value Liabilities Long-term debt (a) $ 647.7 $ 659.5 $ 749.0 $ 763.5 |
Fair Value of Assets and Liabilities Measured on Recurring Basis | The fair value of assets and liabilities at September 30, 2017 and December 31, 2016 and the respective category within the fair value hierarchy for DP&L was determined as follows: Assets and Liabilities at Fair Value Level 1 Level 2 Level 3 $ in millions Fair value at September 30, 2017 (a) Based on Quoted Prices in Active Markets Other Observable Inputs Unobservable Inputs Assets Master Trust assets Money market funds $ 0.4 $ 0.4 $ — $ — Equity securities 4.1 — 4.1 — Debt securities 4.3 — 4.3 — Hedge funds 0.1 — 0.1 — Tangible assets 0.1 — 0.1 — Total Master Trust assets 9.0 0.4 8.6 — Derivative assets Natural gas futures 0.9 0.9 — — Interest rate hedges — — — — Forward power contracts 10.8 — 10.8 — Total derivative assets 11.7 0.9 10.8 — Total assets $ 20.7 $ 1.3 $ 19.4 $ — Liabilities Derivative liabilities FTRs $ 0.5 $ — $ — $ 0.5 Interest rate hedges — — — — Natural gas futures 0.8 0.8 — — Forward power contracts 8.1 — 8.1 — Total derivative liabilities 9.4 0.8 8.1 0.5 Long-term debt (b) 659.5 — 641.6 17.9 Total liabilities $ 668.9 $ 0.8 $ 649.7 $ 18.4 (a) Includes credit valuation adjustment (b) Amounts exclude immaterial capital lease obligations Assets and Liabilities at Fair Value Level 1 Level 2 Level 3 $ in millions Fair value at December 31, 2016 (a) Based on Quoted Prices in Active Markets Other Observable Inputs Unobservable Inputs Assets Master Trust assets Money market funds $ 0.4 $ 0.4 $ — $ — Equity securities 3.4 — 3.4 — Debt securities 4.4 — 4.4 — Hedge funds 0.1 — 0.1 — Real estate 0.3 — 0.3 — Tangible assets 0.1 — 0.1 — Total Master Trust assets 8.7 0.4 8.3 — Derivative assets FTRs 0.1 — — 0.1 Interest rate hedges 1.2 — 1.2 — Forward power contracts 19.5 — 19.5 — Total Derivative assets 20.8 — 20.7 0.1 Total assets $ 29.5 $ 0.4 $ 29.0 $ 0.1 Liabilities Derivative liabilities Interest rate hedges $ 0.7 $ — $ 0.7 $ — Forward power contracts 28.5 — 26.0 2.5 Total Derivative liabilities 29.2 — 26.7 2.5 Long-term debt (b) 763.5 — 745.5 18.0 Total liabilities $ 792.7 $ — $ 772.2 $ 20.5 |
Fair Value Measurements, Nonrecurring [Table Text Block] | When evaluating impairment of long-lived assets, we measure fair value using the applicable fair value measurement guidance. Impairment expense is measured by comparing the fair value at the evaluation date to the carrying amount. The following table summarizes Long-lived assets measured at fair value on a non-recurring basis during the periods and their level within the fair value hierarchy: Carrying Fair Value Gross Amount (b) Level 1 Level 2 Level 3 Loss $ in millions Nine months ended September 30, 2017 Assets Long-lived assets (a) Stuart $ 42.3 $ — $ — $ 3.3 $ 39.0 Killen $ 35.2 $ — $ — $ 7.9 $ 27.3 $ 66.3 Nine months ended September 30, 2016 Assets Long-lived assets (a) Stuart $ 456.4 $ — $ — $ 164.4 $ 292.0 Killen $ 330.5 $ — $ — $ 84.3 $ 246.2 Zimmer $ 429.9 $ — $ — $ 111.0 $ 318.9 $ 857.1 (a) See Note 14 – Fixed-asset Impairments for further information (b) Carrying amount at date of valuation |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | The following summarizes the significant unobservable inputs used in the Level 3 measurement on a non-recurring basis during the nine months ended September 30, 2017: $ in millions Fair value Valuation technique Unobservable input Weighted average Long-lived assets held and used: Stuart $ 3.3 Discounted cash flow Pre-tax operating margin 10.0 % Weighted-average cost of capital 7.0 % Killen $ 7.9 Discounted cash flow Pre-tax operating margin 22.0 % Weighted-average cost of capital 7.0 % The following summarizes the significant unobservable inputs used in the Level 3 measurement on a non-recurring basis during the nine months ended September 30, 2016: $ in millions Fair value Valuation technique Unobservable input Weighted average Long-lived assets held and used: Stuart $ 164.4 Discounted cash flow Annual revenue growth -9.0% to 10.0% (2.0%) Annual pre-tax operating margin -29.0% to 52.0% (5.0%) Weighted-average cost of capital 9.0% Killen $ 84.3 Discounted cash flow Annual revenue growth -11.0% to 13.0% (2.0%) Annual pre-tax operating margin -50.0% to 67.0% (6.0%) Weighted-average cost of capital 11.0% Zimmer $ 111.0 Discounted cash flow Annual revenue growth -14.0% to 13.0% (1.0%) Annual pre-tax operating margin -46.0% to 80.0% (4.0%) Weighted-average cost of capital 9.0% |
Derivative Instruments and He28
Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
Schedule of Notional Amounts of Outstanding Derivative Positions | At September 30, 2017 , DPL's derivative instruments were as follows: Commodity Accounting Treatment (a) Unit Purchases Sales Net Purchases/ (Sales) FTRs Not designated MWh 3.4 — 3.4 Natural gas futures Not designated Dths 6,625.0 (390.0 ) 6,235.0 Forward power contracts Designated MWh 649.0 (2,478.9 ) (1,829.9 ) Forward power contracts Not designated MWh 1,082.8 (1,060.0 ) 22.8 Interest rate swaps Designated USD $ 200,000.0 $ — $ 200,000.0 (a) Refers to whether the derivative instruments have been designated as a cash flow hedge. At December 31, 2016 , DPL's derivative instruments were as follows: Commodity Accounting Treatment (a) Unit Purchases Sales Net Purchases/ (Sales) FTRs Not designated MWh 2.3 — 2.3 Natural gas futures Not designated Dths 1,590.0 — 1,590.0 Forward power contracts Designated MWh 342.9 (9,974.5 ) (9,631.6 ) Forward power contracts Not designated MWh 2,568.3 (2,020.9 ) 547.4 Interest rate swaps Designated USD $ 200,000.0 $ — $ 200,000.0 |
Gains or Losses Recognized in AOCI for the Cash Flow Hedges | The following tables provide information concerning gains or losses recognized in AOCI for the cash flow hedges for the three and nine months ended September 30, 2017 and 2016 : Three months ended Three months ended September 30, 2017 September 30, 2016 Interest Interest $ in millions (net of tax) Power Rate Hedge Power Rate Hedge Beginning accumulated derivative gains in AOCI $ 3.0 $ 17.2 $ 3.4 $ 17.3 Net gains associated with current period hedging transactions 1.3 0.1 9.5 — Net gains / (losses) reclassified to earnings Interest expense — (0.2 ) — (0.1 ) Revenues (2.7 ) — (6.0 ) — Purchased power 0.5 — 0.6 — Ending accumulated derivative gains in AOCI $ 2.1 $ 17.1 $ 7.5 $ 17.2 Nine months ended Nine months ended September 30, 2017 September 30, 2016 Interest Interest $ in millions (net of tax) Power Rate Hedge Power Rate Hedge Beginning accumulated derivative gains / (losses) in AOCI $ (4.3 ) $ 17.4 $ 9.2 $ 17.5 Net gains associated with current period hedging transactions 11.9 0.2 22.4 — Net gains / (losses) reclassified to earnings Interest expense — (0.5 ) — (0.3 ) Revenues (8.1 ) — (30.0 ) — Purchased power 2.6 — 5.9 — Ending accumulated derivative gains in AOCI $ 2.1 $ 17.1 $ 7.5 $ 17.2 Portion expected to be reclassified to earnings in the next twelve months (a) $ 1.5 $ (0.4 ) Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) 6 37 (a) The actual amounts that we reclassify from AOCI to earnings related to power can differ from the estimate above due to market price changes. |
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location | The following tables present the amount and classification within the Condensed Consolidated Statements of Operations of the gains and losses on DPL’s derivatives not designated as hedging instruments for the three and nine months ended September 30, 2017 and 2016 : For the three months ended September 30, 2017 $ in millions FTRs Power Natural Gas Total Change in unrealized gain / (loss) $ 0.2 $ (1.4 ) $ — $ (1.2 ) Realized gain / (loss) 0.2 1.9 (0.2 ) 1.9 Total $ 0.4 $ 0.5 $ (0.2 ) $ 0.7 Recorded in Income Statement: gain / (loss) Revenues $ — $ 3.3 $ — $ 3.3 Purchased power 0.4 (2.8 ) (0.2 ) (2.6 ) Total $ 0.4 $ 0.5 $ (0.2 ) $ 0.7 For the three months ended September 30, 2016 $ in millions FTRs Power Natural Gas Total Change in unrealized gain / (loss) $ — $ 1.2 $ (0.3 ) $ 0.9 Realized gain / (loss) (0.1 ) (2.4 ) 0.2 (2.3 ) Total $ (0.1 ) $ (1.2 ) $ (0.1 ) $ (1.4 ) Recorded in Income Statement: gain / (loss) Revenues $ — $ (10.4 ) $ — $ (10.4 ) Purchased power (0.1 ) 9.2 (0.1 ) 9.0 Total $ (0.1 ) $ (1.2 ) $ (0.1 ) $ (1.4 ) For the nine months ended September 30, 2017 $ in millions FTRs Power Natural Gas Total Change in unrealized gain / (loss) $ (0.5 ) $ 2.3 $ (0.8 ) $ 1.0 Realized gain / (loss) 0.5 (1.4 ) (0.3 ) (1.2 ) Total $ — $ 0.9 $ (1.1 ) $ (0.2 ) Recorded in Income Statement: gain / (loss) Revenues $ — $ (2.6 ) $ — $ (2.6 ) Purchased power — 3.5 (1.1 ) 2.4 Total $ — $ 0.9 $ (1.1 ) $ (0.2 ) For the nine months ended September 30, 2016 $ in millions FTRs Power Natural Gas Total Change in unrealized gain / (loss) $ 0.4 $ 2.3 $ — $ 2.7 Realized gain / (loss) (0.4 ) (5.3 ) 0.7 (5.0 ) Total $ — $ (3.0 ) $ 0.7 $ (2.3 ) Recorded in Income Statement: gain / (loss) Revenues $ — $ (13.1 ) $ — $ (13.1 ) Purchased power — 10.1 0.7 10.8 Total $ — $ (3.0 ) $ 0.7 $ (2.3 ) |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following tables summarize the derivative positions presented in the balance sheet where a right of offset exists under these arrangements and related cash collateral received or pledged, as well as the fair value, balance sheet classification and hedging designation of DPL’s derivative instruments: Fair Values of Derivative Instruments at September 30, 2017 Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets $ in millions Hedging Designation Gross Fair Value as presented in the Consolidated Balance Sheets (a) Financial Instruments with Same Counterparty in Offsetting Position Cash Collateral Net Fair Value Assets Short-term derivative positions (presented in Other prepayments and current assets) Forward power contracts Designated $ 7.0 $ (4.6 ) $ — $ 2.4 Forward power contracts Not designated 3.5 (2.7 ) — 0.8 Natural gas futures Not designated — — — — Long-term derivative positions (presented in Other deferred assets) Interest rate swap Designated 0.9 — — 0.9 Natural gas futures Not designated — — — — Forward power contracts Not designated 0.3 — — 0.3 Total assets $ 11.7 $ (7.3 ) $ — $ 4.4 Liabilities Short-term derivative positions (presented in Other current liabilities) Forward power contracts Designated $ 4.6 $ (4.6 ) $ — $ — Interest rate swap Designated — — — — Forward power contracts Not designated 3.5 (2.7 ) (0.7 ) 0.1 Natural gas futures Not designated 0.8 — (0.8 ) — FTRs Not designated 0.5 — — 0.5 Long-term derivative positions (presented in Other deferred credits) Natural gas futures Not designated — — — — Total liabilities $ 9.4 $ (7.3 ) $ (1.5 ) $ 0.6 (a) includes credit valuation adjustment Fair Values of Derivative Instruments at December 31, 2016 Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets $ in millions Hedging Designation Gross Fair Value as presented in the Consolidated Balance Sheets (a) Financial Instruments with Same Counterparty in Offsetting Position Cash Collateral Net Fair Value Assets Short-term derivative positions (presented in Other prepayments and current assets) Forward power contracts Designated $ 11.0 $ (10.5 ) $ — $ 0.5 Forward power contracts Not designated 6.0 (4.7 ) — 1.3 FTRs Not designated 0.1 — — 0.1 Long-term derivative positions (presented in Other deferred assets) Interest rate swaps Designated 1.2 — — 1.2 Forward power contracts Designated 0.6 (0.6 ) — — Forward power contracts Not designated 1.9 (1.0 ) — 0.9 Total assets $ 20.8 $ (16.8 ) $ — $ 4.0 Liabilities Short-term derivative positions (presented in Other current liabilities) Interest rate swaps Designated $ 0.7 $ — $ — $ 0.7 Forward power contracts Designated 16.4 (10.5 ) (5.5 ) 0.4 Forward power contracts Not designated 7.7 (4.7 ) — 3.0 Long-term derivative positions (presented in Other deferred credits) Forward power contracts Designated 2.4 (0.6 ) (0.8 ) 1.0 Forward power contracts Not designated 2.0 (1.0 ) — 1.0 Total liabilities $ 29.2 $ (16.8 ) $ (6.3 ) $ 6.1 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
Schedule of Notional Amounts of Outstanding Derivative Positions | At September 30, 2017 , DP&L's derivative instruments were as follows: Commodity Accounting Treatment (a) Unit Purchases Sales Net Purchases/ (Sales) FTRs Not designated MWh 3.4 — 3.4 Natural gas futures Not designated Dths 6,625.0 (390.0 ) 6,235.0 Forward power contracts Designated MWh 649.0 (2,478.9 ) (1,829.9 ) Forward power contracts Not designated MWh 1,082.8 (1,060.0 ) 22.8 Interest rate swaps Designated USD $ 200,000.0 $ — $ 200,000.0 (a) Refers to whether the derivative instruments have been designated as a cash flow hedge. At December 31, 2016 , DP&L's derivative instruments were as follows: Commodity Accounting Treatment (a) Unit Purchases Sales Net Purchases/ (Sales) FTRs Not designated MWh 2.3 — 2.3 Natural gas futures Not designated Dths 1,590.0 — 1,590.0 Forward power contracts Designated MWh 342.9 (9,974.5 ) (9,631.6 ) Forward power contracts Not designated MWh 2,568.3 (2,037.5 ) 530.8 Interest rate swaps Designated USD $ 200,000.0 $ — $ 200,000.0 |
Gains or Losses Recognized in AOCI for the Cash Flow Hedges | The following tables provide information concerning gains or losses recognized in AOCI for the cash flow hedges for the three and nine months ended September 30, 2017 and 2016 : Three months ended Three months ended September 30, 2017 September 30, 2016 Interest Interest $ in millions (net of tax) Power Rate Hedge Power Rate Hedge Beginning accumulated derivative gains in AOCI $ 3.0 $ 1.4 $ 3.4 $ 1.6 Net gains associated with current period hedging transactions 1.3 0.1 9.5 — Net gains / (losses) reclassified to earnings Interest expense — (0.2 ) — (0.2 ) Revenues (2.7 ) — (6.0 ) — Purchased power 0.5 — 0.6 — Ending accumulated derivative gains in AOCI $ 2.1 $ 1.3 $ 7.5 $ 1.4 Nine months ended Nine months ended September 30, 2017 September 30, 2016 Interest Interest $ in millions (net of tax) Power Rate Hedge Power Rate Hedge Beginning accumulated derivative gains / (losses) in AOCI $ (4.3 ) $ 1.6 $ 9.2 $ 2.0 Net gains associated with current period hedging transactions 11.9 0.2 22.5 — Net gains / (losses) reclassified to earnings Interest expense — (0.5 ) — (0.6 ) Revenues (8.1 ) — (30.1 ) — Purchased power 2.6 — 5.9 — Ending accumulated derivative gains in AOCI $ 2.1 $ 1.3 $ 7.5 $ 1.4 Portion expected to be reclassified to earnings in the next twelve months (a) $ 1.5 $ (0.4 ) Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) 6 37 (a) The actual amounts that we reclassify from AOCI to earnings related to power can differ from the estimate above due to market price changes. Net gains or losses associated with the ineffective portion of the hedging transactions were immaterial in the periods presented. |
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location | The following tables present the amount and classification within the Condensed Statements of Operations of the gains and losses on DP&L's derivatives not designated as hedging instruments for the three and nine months ended September 30, 2017 and 2016 : For the three months ended September 30, 2017 $ in millions FTRs Power Natural Gas Total Change in unrealized gain / (loss) $ 0.2 $ (1.4 ) $ — $ (1.2 ) Realized gain / (loss) 0.2 1.9 (0.2 ) 1.9 Total $ 0.4 $ 0.5 $ (0.2 ) $ 0.7 Recorded in Income Statement: gain / (loss) Revenues $ — $ 3.3 $ — $ 3.3 Purchased power 0.4 (2.8 ) (0.2 ) (2.6 ) Total $ 0.4 $ 0.5 $ (0.2 ) $ 0.7 For the three months ended September 30, 2016 $ in millions FTRs Power Natural Gas Total Change in unrealized gain / (loss) $ — $ 1.2 $ (0.3 ) $ 0.9 Realized gain / (loss) (0.1 ) (2.4 ) 0.2 (2.3 ) Total $ (0.1 ) $ (1.2 ) $ (0.1 ) $ (1.4 ) Recorded in Income Statement: gain / (loss) Revenues $ — $ (10.4 ) $ — $ (10.4 ) Purchased power (0.1 ) 9.2 (0.1 ) 9.0 Total $ (0.1 ) $ (1.2 ) $ (0.1 ) $ (1.4 ) For the nine months ended September 30, 2017 $ in millions FTRs Power Natural Gas Total Change in unrealized gain / (loss) $ (0.5 ) $ 2.2 $ (0.8 ) $ 0.9 Realized gain / (loss) 0.5 (1.5 ) (0.3 ) (1.3 ) Total $ — $ 0.7 $ (1.1 ) $ (0.4 ) Recorded in Income Statement: gain / (loss) Revenues $ — $ (2.7 ) $ — $ (2.7 ) Purchased power — 3.4 (1.1 ) 2.3 Total $ — $ 0.7 $ (1.1 ) $ (0.4 ) For the nine months ended September 30, 2016 $ in millions FTRs Power Natural Gas Total Change in unrealized gain / (loss) $ 0.4 $ 2.3 $ — $ 2.7 Realized gain / (loss) (0.4 ) (5.3 ) 0.7 (5.0 ) Total $ — $ (3.0 ) $ 0.7 $ (2.3 ) Recorded in Income Statement: gain / (loss) Revenues $ — $ (13.1 ) $ — $ (13.1 ) Purchased power — 10.1 0.7 10.8 Total $ — $ (3.0 ) $ 0.7 $ (2.3 ) DP&L has elected not to offset derivative assets and liabilities and not to offset net derivative positions against the right to reclaim cash collateral pledged (an asset) or the obligation to return cash collateral received (a liability) under derivative agreements. |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following tables summarize the derivative positions presented in the balance sheet where a right of offset exists under these arrangements and related cash collateral received or pledged, as well as the fair value, balance sheet classification and hedging designation of DP&L’s derivative instruments: Fair Values of Derivative Instruments at September 30, 2017 Gross Amounts Not Offset in the Condensed Balance Sheets $ in millions Hedging Designation Gross Fair Value as presented in the Balance Sheets (a) Financial Instruments with Same Counterparty in Offsetting Position Cash Collateral Net Fair Value Assets Short-term derivative positions (presented in Other prepayments and current assets) Forward power contracts Designated $ 7.0 $ (4.6 ) $ — $ 2.4 Forward power contracts Not designated 3.5 (2.7 ) — 0.8 Natural gas futures Not designated — — — — Long-term derivative positions (presented in Other deferred assets) Interest rate swap Designated 0.9 — — 0.9 Natural gas futures Not designated — — — — Forward power contracts Not designated 0.3 — — 0.3 Total assets $ 11.7 $ (7.3 ) $ — $ 4.4 Liabilities Short-term derivative positions (presented in Other current liabilities) Forward power contracts Designated $ 4.6 $ (4.6 ) $ — $ — Interest rate swaps Designated — — — — Forward power contracts Not designated 3.5 (2.7 ) (0.7 ) 0.1 Natural gas futures Not designated 0.8 — (0.8 ) — FTRs Not designated 0.5 — — 0.5 Long-term derivative positions (presented in Other deferred credits) Natural gas futures Not designated — — — — Total liabilities $ 9.4 $ (7.3 ) $ (1.5 ) $ 0.6 (a) includes credit valuation adjustment Fair Values of Derivative Instruments at December 31, 2016 Gross Amounts Not Offset in the Condensed Balance Sheets $ in millions Hedging Designation Gross Fair Value as presented in the Balance Sheets (a) Financial Instruments with Same Counterparty in Offsetting Position Cash Collateral Net Fair Value Assets Short-term derivative positions (presented in Other prepayments and current assets) Forward power contracts Designated $ 11.0 $ (10.5 ) $ — $ 0.5 Forward power contracts Not designated 6.0 (4.7 ) — 1.3 FTRs Not designated 0.1 — — 0.1 Long-term derivative positions (presented in Other deferred assets) Interest rate swaps Designated 1.2 — — 1.2 Forward power contracts Designated 0.6 (0.6 ) — — Forward power contracts Not designated 1.9 (1.0 ) — 0.9 Total assets $ 20.8 $ (16.8 ) $ — $ 4.0 Liabilities Short-term derivative positions (presented in Other current liabilities) Forward power contracts Designated $ 16.4 $ (10.5 ) $ (5.5 ) $ 0.4 Interest rate swaps Designated 0.7 — — 0.7 Forward power contracts Not designated 7.7 (4.7 ) — 3.0 Long-term derivative positions (presented in Other deferred credits) Forward power contracts Designated 2.4 (0.6 ) (0.8 ) 1.0 Forward power contracts Not designated 2.0 (1.0 ) — 1.0 Total liabilities $ 29.2 $ (16.8 ) $ (6.3 ) $ 6.1 |
Debt (Tables)
Debt (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Debt Instrument [Line Items] | |
Long-term Debt | Interest September 30, December 31, $ in millions Rate Maturity 2017 2016 Term loan - rates from 4.01% - 4.49% (a) and 4.00% - 4.01% (b) 2022 $ 441.7 $ 445.0 Tax-exempt First Mortgage Bonds 4.8% 2036 — 100.0 Tax-exempt First Mortgage Bonds - rates from 1.52% - 1.83% (a) and 1.29% - 1.42% (b) 2020 200.0 200.0 U.S. Government note 4.2% 2061 17.9 18.0 Capital leases 0.3 0.4 Unamortized deferred financing costs (9.9 ) (10.7 ) Unamortized long-term debt discounts and premiums, net (2.0 ) (5.5 ) Total long-term debt at consolidated subsidiary 648.0 747.2 Bank term loan - rates from 3.02% - 3.99% (a) and 2.67% - 3.02% (b) 2020 106.3 125.0 Senior unsecured notes 6.75% 2019 200.0 200.0 Senior unsecured notes 7.25% 2021 780.0 780.0 Note to DPL Capital Trust II (c) 8.125% 2031 15.6 15.6 Unamortized deferred financing costs (7.4 ) (8.8 ) Unamortized long-term debt discounts and premiums, net (0.6 ) (0.6 ) Total long-term debt 1,741.9 1,858.4 Less: current portion (29.7 ) (29.7 ) Long-term debt, net of current portion $ 1,712.2 $ 1,828.7 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Debt Instrument [Line Items] | |
Long-term Debt | The following table summarizes DP&L's outstanding long-term debt. Interest September 30, December 31, $ in millions Rate Maturity 2017 2016 Term loan - rates from 4.01% - 4.49% (a) and 4.00% - 4.01% (b) 2022 $ 441.7 $ 445.0 Tax-exempt First Mortgage Bonds 4.8% 2036 — 100.0 Tax-exempt First Mortgage Bonds - rates from 1.52% - 1.83% (a) and 1.29% - 1.42% (b) 2020 200.0 200.0 U.S. Government note 4.2% 2061 17.9 18.0 Capital leases 0.3 0.4 Unamortized deferred financing costs (9.9 ) (11.8 ) Unamortized long-term debt discounts (2.0 ) (2.2 ) Total long-term debt 648.0 749.4 Less: current portion (4.7 ) (4.7 ) Long-term debt, net of current portion $ 643.3 $ 744.7 |
Income Taxes (Tables)
Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Entity Information [Line Items] | |
Schedule of Effective Income Tax Rates | The following table details the effective tax rates for the three and nine months ended September 30, 2017 and 2016 . Three months ended Nine months ended September 30, September 30, 2017 2016 2017 2016 DPL 21.8% 45.7% 36.9% 38.6% |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Entity Information [Line Items] | |
Schedule of Effective Income Tax Rates | The following table details the effective tax rates for the three and nine months ended September 30, 2017 and 2016 . Three months ended Nine months ended September 30, September 30, 2017 2016 2017 2016 DP&L 28.9% 39.6% 5.3% 36.7% |
Benefit Plans (Tables)
Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Entity Information [Line Items] | |
Schedule of Net Periodic Benefit Cost / (Income) | The net periodic benefit cost of the pension benefit plans for the three and nine months ended September 30, 2017 and 2016 was: Three months ended Nine months ended September 30, September 30, $ in millions 2017 2016 2017 2016 Service cost $ 1.5 $ 1.4 $ 4.3 $ 4.2 Interest cost 3.5 3.7 10.6 11.1 Expected return on plan assets (5.7 ) (5.7 ) (17.1 ) (17.1 ) Plan curtailment (a) — — 4.1 — Amortization of unrecognized: Prior service cost 0.2 0.4 0.8 1.4 Actuarial loss 1.3 1.1 4.0 3.2 Net periodic benefit cost $ 0.8 $ 0.9 $ 6.7 $ 2.8 (a) As a result of the decision to retire certain of DP&L's coal-fired plants, we recognized a plan curtailment of $4.1 million in the first quarter of 2017. See Note 14 – Fixed-asset Impairments for more information. |
Estimated Future Benefit Payments and Medicare Part D Reimbursements | Benefit payments, which reflect future service, are estimated to be paid as follows: $ in millions Estimated to be paid during Pension 2017 $ 6.3 2018 $ 25.5 2019 $ 26.0 2020 $ 26.4 2021 $ 26.7 2022 - 2026 $ 139.6 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Entity Information [Line Items] | |
Schedule of Net Periodic Benefit Cost / (Income) | The net periodic benefit cost of the pension benefit plans for the three and nine months ended September 30, 2017 and 2016 was: Three months ended Nine months ended September 30, September 30, $ in millions 2017 2016 2017 2016 Service cost $ 1.5 $ 1.4 $ 4.3 $ 4.2 Interest cost 3.5 3.7 10.6 11.1 Expected return on plan assets (5.7 ) (5.7 ) (17.1 ) (17.1 ) Plan curtailment (a) — — 5.6 — Amortization of unrecognized: Prior service cost 0.3 0.8 1.1 2.3 Actuarial loss 2.1 1.8 6.6 5.4 Net periodic benefit cost $ 1.7 $ 2.0 $ 11.1 $ 5.9 (a) As a result of the decision to retire certain of DP&L's coal-fired plants, we recognized a plan curtailment of $5.6 million in the first quarter of 2017. See Note 14 – Fixed-asset Impairments for more information. |
Estimated Future Benefit Payments and Medicare Part D Reimbursements | Benefit payments, which reflect future service, are estimated to be paid as follows: $ in millions Estimated to be paid during Pension 2017 $ 6.3 2018 $ 25.5 2019 $ 26.0 2020 $ 26.4 2021 $ 26.7 2022 - 2026 $ 139.6 |
Business Segments (Tables)
Business Segments (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Segment Reporting Information [Line Items] | |
Financial Reporting for Reportable Business Segments | The following tables present financial information for each of DPL’s reportable business segments prior to the October 1, 2017 transfer to AES Ohio Generation: $ in millions T&D Generation Other Adjustments and Eliminations DPL Consolidated Three months ended September 30, 2017 Revenues from external customers $ 184.0 $ 137.2 $ 2.7 $ — $ 323.9 Intersegment revenues 0.2 — 0.9 (1.1 ) — Total revenues $ 184.2 $ 137.2 $ 3.6 $ (1.1 ) $ 323.9 Depreciation and amortization $ 19.6 $ 4.7 $ 3.0 $ — $ 27.3 Interest expense $ 7.7 $ — $ 19.5 $ — $ 27.2 Income / (loss) from continuing operations before income tax $ 20.0 $ 29.9 $ (21.9 ) $ — $ 28.0 Cash capital expenditures $ 20.6 $ 7.9 $ 0.7 $ — $ 29.2 $ in millions T&D Generation Other Adjustments and Eliminations DPL Consolidated Three months ended September 30, 2016 Revenues from external customers $ 215.5 $ 170.4 $ 3.4 $ — $ 389.3 Intersegment revenues 0.3 — 2.0 (2.3 ) — Total revenues $ 215.8 $ 170.4 $ 5.4 $ (2.3 ) $ 389.3 Depreciation and amortization $ 17.8 $ 7.7 $ 5.4 $ — $ 30.9 Interest expense $ 6.5 $ 0.1 $ 20.5 $ (0.1 ) $ 27.0 Income / (loss) from continuing operations before income tax $ 36.4 $ 14.2 $ (22.8 ) $ — $ 27.8 Cash capital expenditures $ 19.6 $ 10.6 $ 0.5 $ — $ 30.7 $ in millions T&D Generation Other Adjustments and Eliminations DPL Consolidated Nine months ended September 30, 2017 Revenues from external customers $ 541.7 $ 396.4 $ 7.8 $ — $ 945.9 Intersegment revenues 0.8 — 3.6 (4.4 ) — Total revenues $ 542.5 $ 396.4 $ 11.4 $ (4.4 ) $ 945.9 Depreciation and amortization $ 56.3 $ 16.6 $ 8.9 $ — $ 81.8 Fixed-asset Impairments (Note 14) $ — $ 66.3 $ 0.1 $ — $ 66.4 Interest expense $ 22.9 $ 0.2 $ 58.4 $ — $ 81.5 Income / (loss) from continuing operations before income tax $ 60.1 $ (43.7 ) $ (62.8 ) $ — $ (46.4 ) Cash capital expenditures $ 66.3 $ 27.1 $ 2.2 $ — $ 95.6 At September 30, 2017 Total assets $ 1,655.3 $ 333.0 $ 694.4 $ (508.4 ) $ 2,174.3 $ in millions T&D Generation Other Adjustments and Eliminations DPL Consolidated Nine months ended September 30, 2016 Revenues from external customers $ 604.4 $ 470.0 $ 7.2 $ — $ 1,081.6 Intersegment revenues 1.0 — 4.2 (5.2 ) — Total revenues $ 605.4 $ 470.0 $ 11.4 $ (5.2 ) $ 1,081.6 Depreciation and amortization $ 55.1 $ 44.6 $ 0.6 $ — $ 100.3 Fixed-asset Impairments (Note 14) $ — $ 857.1 $ (621.6 ) $ — $ 235.5 Interest expense $ 17.5 $ 0.3 $ 61.7 $ (0.2 ) $ 79.3 Income / (loss) from continuing operations before income tax $ 97.9 $ (857.2 ) $ 564.8 $ — $ (194.5 ) Cash capital expenditures $ 61.8 $ 46.9 $ 1.1 $ — $ 109.8 At December 31, 2016 Total assets $ 1,710.5 $ 472.3 $ 673.6 $ (437.2 ) $ 2,419.2 |
Subsidiaries [Member] | |
Segment Reporting Information [Line Items] | |
Financial Reporting for Reportable Business Segments | The following tables present financial information for each of DP&L’s reportable business segments: $ in millions T&D Generation Adjustments and Eliminations DP&L Total Three months ended September 30, 2017 Revenues from external customers $ 184.2 $ 121.4 $ — $ 305.6 Intersegment revenues — — — — Total revenues $ 184.2 $ 121.4 $ — $ 305.6 Depreciation and amortization $ 19.6 $ 3.1 $ — $ 22.7 Interest expense $ 7.7 $ — $ — $ 7.7 Income from operations before income tax $ 20.0 $ 21.2 $ — $ 41.2 Cash capital expenditures $ 20.6 $ 4.2 $ — $ 24.8 $ in millions T&D Generation Adjustments and Eliminations DP&L Total Three months ended September 30, 2016 Revenues from external customers $ 215.8 $ 152.6 $ — $ 368.4 Intersegment revenues — — — — Total revenues $ 215.8 $ 152.6 $ — $ 368.4 Depreciation and amortization $ 17.8 $ 6.3 $ — $ 24.1 Interest expense $ 6.4 $ 0.1 $ — $ 6.5 Income from operations before income tax $ 36.5 $ 13.3 $ — $ 49.8 Cash capital expenditures $ 19.6 $ 6.9 $ — $ 26.5 $ in millions T&D Generation Adjustments and Eliminations DP&L Total Nine months ended September 30, 2017 Revenues from external customers $ 542.5 $ 358.3 $ — $ 900.8 Intersegment revenues — — — — Total revenues $ 542.5 $ 358.3 $ — $ 900.8 Depreciation and amortization $ 56.3 $ 11.9 $ — $ 68.2 Fixed-asset Impairments (Note 14) $ — $ 66.3 $ — $ 66.3 Interest expense $ 22.9 $ 0.2 $ — $ 23.1 Income / (loss) from operations before income tax $ 60.1 $ (56.3 ) $ — $ 3.8 Cash capital expenditures $ 66.3 $ 16.1 $ — $ 82.4 At September 30, 2017 Total assets $ 1,655.3 $ 178.0 $ — $ 1,833.3 $ in millions T&D Generation Adjustments and Eliminations DP&L Total Nine months ended September 30, 2016 Revenues from external customers $ 605.4 $ 425.9 $ — $ 1,031.3 Intersegment revenues — — — — Total revenues $ 605.4 $ 425.9 $ — $ 1,031.3 Depreciation and amortization $ 55.1 $ 40.1 $ — $ 95.2 Fixed-asset Impairments (Note 14) $ — $ 857.1 $ — $ 857.1 Interest expense $ 16.9 $ 0.3 $ — $ 17.2 Income / (loss) from operations before income tax $ 98.5 $ (837.9 ) $ — $ (739.4 ) Cash capital expenditures $ 61.8 $ 36.5 $ — $ 98.3 At December 31, 2016 Total assets $ 1,710.5 $ 324.6 $ — $ 2,035.1 |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | The following table summarizes the revenues, cost of revenues, operating expenses and income tax of discontinued operations for the periods indicated: $ in millions Nine months ended September 30, 2016 Operating expenses $ (0.7 ) Loss from discontinued operations before income taxes (0.7 ) Gain from disposal of discontinued operations 49.2 Income tax expense 18.9 Income on discontinued operations $ 29.6 Accordingly, the assets and liabilities of Zimmer Station and Miami Fort Station were classified as held for sale as of September 30, 2017, but the plants did not meet the criteria to be reported as discontinued operations. The following table summarizes the major classes of assets and liabilities classified as held for sale as of September 30, 2017: $ in millions September 30, 2017 Assets Accounts receivable, net (a) $ (11.2 ) Inventories 22.7 Property, plant & equipment, net 44.8 Other prepayments and current assets 0.7 Total assets of the disposal group classified as held for sale in the balance sheet $ 57.0 Liabilities Accounts payable $ 0.7 Accrued taxes 2.6 Asset retirement obligations 4.4 Other liabilities (b) (0.7 ) Total liabilities of the disposal group classified as held for sale in the balance sheet $ 7.0 |
Held for Sale (Tables)
Held for Sale (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | The following table summarizes the revenues, cost of revenues, operating expenses and income tax of discontinued operations for the periods indicated: $ in millions Nine months ended September 30, 2016 Operating expenses $ (0.7 ) Loss from discontinued operations before income taxes (0.7 ) Gain from disposal of discontinued operations 49.2 Income tax expense 18.9 Income on discontinued operations $ 29.6 Accordingly, the assets and liabilities of Zimmer Station and Miami Fort Station were classified as held for sale as of September 30, 2017, but the plants did not meet the criteria to be reported as discontinued operations. The following table summarizes the major classes of assets and liabilities classified as held for sale as of September 30, 2017: $ in millions September 30, 2017 Assets Accounts receivable, net (a) $ (11.2 ) Inventories 22.7 Property, plant & equipment, net 44.8 Other prepayments and current assets 0.7 Total assets of the disposal group classified as held for sale in the balance sheet $ 57.0 Liabilities Accounts payable $ 0.7 Accrued taxes 2.6 Asset retirement obligations 4.4 Other liabilities (b) (0.7 ) Total liabilities of the disposal group classified as held for sale in the balance sheet $ 7.0 |
Subsidiaries [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | Accordingly, the assets and liabilities of Zimmer Station and Miami Fort Station were classified as held for sale as of September 30, 2017, but the plants did not meet the criteria to be reported as discontinued operations. The following table summarizes the major classes of assets and liabilities classified as held for sale as of September 30, 2017: $ in millions September 30, 2017 Assets Accounts receivable, net (a) $ (11.2 ) Inventories 22.7 Property, plant & equipment, net 44.8 Other prepayments and current assets 0.7 Total assets of the disposal group classified as held for sale in the balance sheet $ 57.0 Liabilities Accounts payable $ 0.7 Accrued taxes 2.6 Asset retirement obligations 3.4 Other liabilities (b) (0.7 ) Total liabilities of the disposal group classified as held for sale in the balance sheet $ 6.0 |
Summary of Significant Accoun35
Summary of Significant Accounting Policies (Narrative) (Details) $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||
Jan. 31, 2016 | Sep. 30, 2017USD ($)employee | Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($)mi²employeesegmentgenerating_facilitycustomer | Sep. 30, 2016USD ($)segment | |
Significant Accounting Policies [Line Items] | |||||
Number of reportable segments | segment | 2 | ||||
Entity number of employees | employee | 1,074 | 1,074 | |||
Employees under a collective bargaining agreement which expires in October-2011 | 61.00% | ||||
Excise taxes collected | $ | $ 13 | $ 14.4 | $ 36.9 | $ 38.9 | |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Approximate number of retail customers | customer | 520,000 | ||||
Service area, square miles | mi² | 6,000 | ||||
Number of Operating Segments | segment | 2 | ||||
Entity number of employees | employee | 1,065 | 1,065 | |||
Employees under a collective bargaining agreement which expires in October-2011 | 61.00% | ||||
Number Of Generating Facilities | generating_facility | 5 | ||||
Excise taxes collected | $ | $ 13 | $ 14.4 | $ 36.9 | $ 38.9 | |
Year 2016 [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Electric generation through competitive bid | 100.00% |
Supplemental Financial Inform36
Supplemental Financial Information (Supplemental Financial Information) (Details) - USD ($) $ in Millions | Sep. 30, 2017 | Dec. 31, 2016 |
Supplemental Financial Information [Line Items] | ||
Unbilled revenue | $ 14.4 | $ 43 |
Customer receivables | 74.2 | 73.9 |
Amounts due from partners in jointly owned stations | 17.8 | 12.7 |
Other | 6.1 | 6.7 |
Provision for uncollectible accounts | (1.1) | (1.2) |
Total accounts receivable, net | 111.4 | 135.1 |
Fuel and limestone | 16.8 | 38.9 |
Plant materials and supplies | 10.9 | 36.6 |
Other | 1 | 1.7 |
Total inventories, at average cost | 28.7 | 77.2 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Supplemental Financial Information [Line Items] | ||
Unbilled revenue | 14.4 | 43 |
Customer receivables | 68.7 | 71.2 |
Amounts due from partners in jointly owned stations | 2.3 | 2.9 |
Amounts due from affiliates | 17.8 | 12.7 |
Other | 5.8 | 6 |
Provision for uncollectible accounts | (1.1) | (1.2) |
Total accounts receivable, net | 107.9 | 134.6 |
Fuel and limestone | 16.8 | 38.8 |
Plant materials and supplies | 9.1 | 35.3 |
Other | 1 | 1.7 |
Total inventories, at average cost | $ 26.9 | $ 75.8 |
Supplemental Financial Inform37
Supplemental Financial Information (Reclassification out of ACOI) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Other income | $ (30.8) | $ (27.6) | $ (86.9) | $ (83) |
Tax expense | (6.1) | (12.7) | 17.1 | 75 |
Net income / (loss) | 21.9 | 15.1 | (29.3) | (89.9) |
Interest expense | (27.2) | (27) | (81.5) | (79.3) |
Revenue | 323.9 | 389.3 | 945.9 | 1,081.6 |
Purchased power | (84) | (111.7) | (263.4) | (330.5) |
Operating Expenses | (123.8) | (143.3) | (476.6) | (656.6) |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Other income | (8.8) | (6.8) | (25.5) | (17.6) |
Tax expense | (11.9) | (19.7) | (0.2) | 271.6 |
Net income / (loss) | 29.3 | 30.1 | 3.6 | (467.8) |
Interest expense | (7.7) | (6.5) | (23.1) | (17.2) |
Revenue | 305.6 | 368.4 | 900.8 | 1,031.3 |
Purchased power | (83.5) | (110) | (260.7) | (328) |
Operating Expenses | (119.3) | (130.8) | (458) | (1,235.6) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Net income / (loss) | (2.4) | (5.5) | (5.2) | (24.3) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Net income / (loss) | (1.7) | (4.9) | (2.3) | (23.1) |
Gains / (losses) on available-for-sale securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Other income | 0 | 0 | (0.1) | 0 |
Gains / (losses) on available-for-sale securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Other income | 0 | 0 | (0.1) | 0 |
Gains / (losses) on cash flow hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Tax expense | 1.3 | 3 | 3.3 | 13.8 |
Net income / (loss) | (2.4) | (5.5) | (6) | (24.4) |
Interest expense | (0.2) | (0.2) | (0.8) | (0.7) |
Revenue | (4.2) | (9.3) | (12.5) | (46.6) |
Purchased power | 0.7 | 1 | 4 | 9.1 |
Total before income taxes | (3.7) | (8.5) | (9.3) | (38.2) |
Gains / (losses) on cash flow hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Tax expense | 1.4 | 3 | 3.3 | 13.5 |
Net income / (loss) | (2.4) | (5.6) | (6) | (24.8) |
Interest expense | (0.3) | (0.3) | (0.8) | (0.9) |
Revenue | (4.2) | (9.3) | (12.5) | (46.5) |
Purchased power | 0.7 | 1 | 4 | 9.1 |
Total before income taxes | (3.8) | (8.6) | (9.3) | (38.3) |
Amortization of defined benefit pension items [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Tax expense | 0 | 0 | (0.5) | (0.1) |
Net income / (loss) | 0 | 0 | 0.9 | 0.1 |
Operating Expenses | 0 | 0 | 1.4 | 0.2 |
Amortization of defined benefit pension items [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Tax expense | (0.4) | (0.4) | (2.1) | (1.6) |
Net income / (loss) | 0.7 | 0.7 | 3.8 | 1.7 |
Operating Expenses | $ 1.1 | $ 1.1 | $ 5.9 | $ 3.3 |
Supplemental Financial Inform38
Supplemental Financial Information (Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance, beginning of period | $ 0.3 | |||
Other comprehensive income / (loss) before reclassifications | 11 | |||
Amounts reclassified from accumulated other comprehensive income / (loss) | (5.2) | |||
Other comprehensive income / (loss) | $ (0.9) | $ 4.1 | 5.8 | $ (1.7) |
Balance, end of period | 6.1 | 6.1 | ||
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance, beginning of period | (42.5) | |||
Other comprehensive income / (loss) before reclassifications | 10.9 | |||
Amounts reclassified from accumulated other comprehensive income / (loss) | (2.3) | |||
Other comprehensive income / (loss) | (0.2) | $ 4.7 | 8.6 | $ (0.4) |
Balance, end of period | (33.9) | (33.9) | ||
Gains / (losses) on available-for-sale securities [Member] | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance, beginning of period | 0.6 | |||
Other comprehensive income / (loss) before reclassifications | 0.4 | |||
Amounts reclassified from accumulated other comprehensive income / (loss) | (0.1) | |||
Other comprehensive income / (loss) | 0.3 | |||
Balance, end of period | 0.9 | 0.9 | ||
Gains / (losses) on available-for-sale securities [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance, beginning of period | 0.7 | |||
Other comprehensive income / (loss) before reclassifications | 0.4 | |||
Amounts reclassified from accumulated other comprehensive income / (loss) | (0.1) | |||
Other comprehensive income / (loss) | 0.3 | |||
Balance, end of period | 1 | 1 | ||
Gains / (losses) on cash flow hedges [Member] | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance, beginning of period | 13.1 | |||
Other comprehensive income / (loss) before reclassifications | 12.1 | |||
Amounts reclassified from accumulated other comprehensive income / (loss) | (6) | |||
Other comprehensive income / (loss) | 6.1 | |||
Balance, end of period | 19.2 | 19.2 | ||
Gains / (losses) on cash flow hedges [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance, beginning of period | (2.7) | |||
Other comprehensive income / (loss) before reclassifications | 12.1 | |||
Amounts reclassified from accumulated other comprehensive income / (loss) | (6) | |||
Other comprehensive income / (loss) | 6.1 | |||
Balance, end of period | 3.4 | 3.4 | ||
Change in unfunded pension obligation [Member] | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance, beginning of period | (13.4) | |||
Other comprehensive income / (loss) before reclassifications | (1.5) | |||
Amounts reclassified from accumulated other comprehensive income / (loss) | 0.9 | |||
Other comprehensive income / (loss) | (0.6) | |||
Balance, end of period | (14) | (14) | ||
Change in unfunded pension obligation [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Balance, beginning of period | (40.5) | |||
Other comprehensive income / (loss) before reclassifications | (1.6) | |||
Amounts reclassified from accumulated other comprehensive income / (loss) | 3.8 | |||
Other comprehensive income / (loss) | 2.2 | |||
Balance, end of period | $ (38.3) | $ (38.3) |
Regulatory Matters (Details)
Regulatory Matters (Details) - USD ($) $ in Millions | Mar. 13, 2017 | Dec. 31, 2016 | Sep. 30, 2017 |
Non-bypassable DMR | $ 105 | ||
Service stability rider per year | $ 110 | ||
Return on Equity SEET Threshold | 12.00% | ||
Subsidiaries [Member] | |||
Non-bypassable DMR | $ 105 | ||
Service stability rider per year | $ 110 | ||
Return on Equity SEET Threshold | 12.00% |
Property, Plant and Equipment40
Property, Plant and Equipment (Details) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($)generating_facilitypower_plantMW | Sep. 30, 2016USD ($) | Apr. 21, 2017USD ($) | Dec. 31, 2016USD ($) | |
Property, Plant and Equipment [Line Items] | ||||||
Asset Retirement Obligation | $ 132.5 | $ 132.5 | $ 138.8 | |||
Asset Retirement Obligation, Period Increase (Decrease) | 0.1 | |||||
Asset Retirement Obligation, Revision of Estimate | (4.8) | |||||
Asset Retirement Obligation, Accretion Expense | 2.9 | |||||
Asset Retirement Obligation, Liabilities Settled | (0.1) | |||||
Gain (Loss) on Sale of Assets and Asset Impairment Charges | 0.3 | $ 0 | (15.9) | $ (0.1) | ||
Electric Transmission [Member] | Dpandl Investment [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress | 0 | 0 | ||||
Jointly Owned Utility Plant, Gross Ownership Amount of Plant in Service | 43.2 | 43.2 | ||||
Jointly Owned Utility Plant, Ownership Amount of Plant Accumulated Depreciation | 11.5 | 11.5 | ||||
Total Jointly Owned Stations [Member] | Dpandl Investment [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress | 12.6 | 12.6 | ||||
Jointly Owned Utility Plant, Gross Ownership Amount of Plant in Service | 105.5 | 105.5 | ||||
Jointly Owned Utility Plant, Ownership Amount of Plant Accumulated Depreciation | 35.4 | $ 35.4 | ||||
Total Jointly Owned Stations [Member] | Dpandl Share [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Production Plan Capacity | MW | 1,876 | |||||
Conesville Unit Four [Member] | Dpandl Investment [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress | 2.3 | $ 2.3 | ||||
Jointly Owned Utility Plant, Gross Ownership Amount of Plant in Service | 0.5 | 0.5 | ||||
Jointly Owned Utility Plant, Ownership Amount of Plant Accumulated Depreciation | $ 0.5 | $ 0.5 | ||||
Conesville Unit Four [Member] | Dpandl Share [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Proportionate Ownership Share | 16.50% | 16.50% | ||||
Killen Station [Member] | Dpandl Investment [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress | $ 0 | $ 0 | ||||
Jointly Owned Utility Plant, Gross Ownership Amount of Plant in Service | 8.5 | 8.5 | ||||
Jointly Owned Utility Plant, Ownership Amount of Plant Accumulated Depreciation | $ 4.1 | $ 4.1 | ||||
Killen Station [Member] | Dpandl Share [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Proportionate Ownership Share | 67.00% | 67.00% | ||||
Miami Fort Unit Seven And Eight [Member] | Dpandl Investment [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress | $ 5.1 | $ 5.1 | ||||
Jointly Owned Utility Plant, Gross Ownership Amount of Plant in Service | 31.3 | 31.3 | ||||
Jointly Owned Utility Plant, Ownership Amount of Plant Accumulated Depreciation | $ 3.3 | $ 3.3 | ||||
Miami Fort Unit Seven And Eight [Member] | Dpandl Share [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Proportionate Ownership Share | 36.00% | 36.00% | ||||
Stuart Station [Member] | Dpandl Investment [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Write off of net book value | $ 6.4 | |||||
Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress | $ 0 | 0 | ||||
Jointly Owned Utility Plant, Gross Ownership Amount of Plant in Service | 0.7 | 0.7 | ||||
Jointly Owned Utility Plant, Ownership Amount of Plant Accumulated Depreciation | $ 0.7 | 0.7 | ||||
Gain (Loss) on Sale of Assets and Asset Impairment Charges | $ 3.2 | |||||
Stuart Station [Member] | Dpandl Share [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Proportionate Ownership Share | 35.00% | 35.00% | ||||
Zimmer Station [Member] | Dpandl Investment [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress | $ 5.2 | $ 5.2 | ||||
Jointly Owned Utility Plant, Gross Ownership Amount of Plant in Service | 21.3 | 21.3 | ||||
Jointly Owned Utility Plant, Ownership Amount of Plant Accumulated Depreciation | $ 15.3 | $ 15.3 | ||||
Zimmer Station [Member] | Dpandl Share [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Proportionate Ownership Share | 28.10% | 28.10% | ||||
Miami Fort and Zimmer [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Asset Retirement Obligation, Held for Sale | $ (4.4) | $ (4.4) | ||||
Miami Fort and Zimmer [Member] | Dpandl Investment [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Sale of undivided interest in jointly-owned production units | $ 50 | |||||
Subsidiaries [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Number Of Coal Fired Power Plants | power_plant | 5 | |||||
Asset Retirement Obligation | 131 | $ 131 | $ 135.2 | |||
Asset Retirement Obligation, Period Increase (Decrease) | 0.1 | |||||
Asset Retirement Obligation, Revision of Estimate | $ (4.8) | |||||
Number Of Generating Facilities | generating_facility | 5 | |||||
Asset Retirement Obligation, Accretion Expense | $ 4 | |||||
Asset Retirement Obligation, Liabilities Settled | (0.1) | |||||
Gain (Loss) on Sale of Assets and Asset Impairment Charges | 0.3 | $ 0 | (15.9) | $ (0.2) | ||
Subsidiaries [Member] | Electric Transmission [Member] | Dpandl Investment [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress | 0 | 0 | ||||
Jointly Owned Utility Plant, Gross Ownership Amount of Plant in Service | 98.6 | 98.6 | ||||
Jointly Owned Utility Plant, Ownership Amount of Plant Accumulated Depreciation | 66.9 | 66.9 | ||||
Subsidiaries [Member] | Total Jointly Owned Stations [Member] | Dpandl Investment [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress | 12.6 | 12.6 | ||||
Jointly Owned Utility Plant, Gross Ownership Amount of Plant in Service | 160.9 | 160.9 | ||||
Jointly Owned Utility Plant, Ownership Amount of Plant Accumulated Depreciation | 90.8 | $ 90.8 | ||||
Subsidiaries [Member] | Total Jointly Owned Stations [Member] | Dpandl Share [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Production Plan Capacity | MW | 1,876 | |||||
Subsidiaries [Member] | Conesville Unit Four [Member] | Dpandl Investment [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress | 2.3 | $ 2.3 | ||||
Jointly Owned Utility Plant, Gross Ownership Amount of Plant in Service | 0.5 | 0.5 | ||||
Jointly Owned Utility Plant, Ownership Amount of Plant Accumulated Depreciation | $ 0.5 | $ 0.5 | ||||
Subsidiaries [Member] | Conesville Unit Four [Member] | Dpandl Share [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Proportionate Ownership Share | 16.50% | 16.50% | ||||
Production Plan Capacity | MW | 129 | |||||
Subsidiaries [Member] | Killen Station [Member] | Dpandl Investment [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress | $ 0 | $ 0 | ||||
Jointly Owned Utility Plant, Gross Ownership Amount of Plant in Service | 8.5 | 8.5 | ||||
Jointly Owned Utility Plant, Ownership Amount of Plant Accumulated Depreciation | $ 4.1 | $ 4.1 | ||||
Subsidiaries [Member] | Killen Station [Member] | Dpandl Share [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Proportionate Ownership Share | 67.00% | 67.00% | ||||
Production Plan Capacity | MW | 402 | |||||
Subsidiaries [Member] | Miami Fort Unit Seven And Eight [Member] | Dpandl Investment [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress | $ 5.1 | $ 5.1 | ||||
Jointly Owned Utility Plant, Gross Ownership Amount of Plant in Service | 31.3 | 31.3 | ||||
Jointly Owned Utility Plant, Ownership Amount of Plant Accumulated Depreciation | $ 3.3 | $ 3.3 | ||||
Subsidiaries [Member] | Miami Fort Unit Seven And Eight [Member] | Dpandl Share [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Proportionate Ownership Share | 36.00% | 36.00% | ||||
Production Plan Capacity | MW | 368 | |||||
Subsidiaries [Member] | Stuart Station [Member] | Dpandl Investment [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Write off of net book value | $ 6.4 | |||||
Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress | $ 0 | 0 | ||||
Jointly Owned Utility Plant, Gross Ownership Amount of Plant in Service | 0.7 | 0.7 | ||||
Jointly Owned Utility Plant, Ownership Amount of Plant Accumulated Depreciation | $ 0.7 | 0.7 | ||||
Gain (Loss) on Sale of Assets and Asset Impairment Charges | $ 3.2 | |||||
Subsidiaries [Member] | Stuart Station [Member] | Dpandl Share [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Proportionate Ownership Share | 35.00% | 35.00% | ||||
Production Plan Capacity | MW | 606 | |||||
Subsidiaries [Member] | Zimmer Station [Member] | Dpandl Investment [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress | $ 5.2 | $ 5.2 | ||||
Jointly Owned Utility Plant, Gross Ownership Amount of Plant in Service | 21.3 | 21.3 | ||||
Jointly Owned Utility Plant, Ownership Amount of Plant Accumulated Depreciation | $ 15.3 | $ 15.3 | ||||
Subsidiaries [Member] | Zimmer Station [Member] | Dpandl Share [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Jointly Owned Utility Plant, Proportionate Ownership Share | 28.10% | 28.10% | ||||
Production Plan Capacity | MW | 371 | |||||
Subsidiaries [Member] | Miami Fort and Zimmer [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Asset Retirement Obligation, Held for Sale | $ (3.4) | $ (3.4) | ||||
Subsidiaries [Member] | Miami Fort and Zimmer [Member] | Dpandl Investment [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Sale of undivided interest in jointly-owned production units | $ 50 |
Fair Value (Narrative) (Details
Fair Value (Narrative) (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Long-term debt, earliest maturities | 2,019 | |
Long-term debt, latest maturities | 2,061 | |
Unrealized gains in AOCI, before tax | $ 1.5 | |
Unrealized Gains in AOCI, Net of Tax | 0.9 | |
Unrealized Gains and Immaterial Unrealized Losses in AOCI, Before Tax | $ 1 | |
Unrealized gains and immaterial unrealized losses in AOCI, after tax | 0.6 | |
Realized gains on investments sold to facilitate the distribution of benefits | 0.8 | |
Realized gains on investments sold to facilitate the distribution of benefits, after tax | $ 0.6 | |
Percent of inputs to the fair value of derivative instruments from quoted market prices (percent) | 86.00% | |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Long-term debt, earliest maturities | 2,020 | |
Long-term debt, latest maturities | 2,061 | |
Unrealized gains in AOCI, before tax | $ 1.5 | |
Unrealized Gains in AOCI, Net of Tax | 1 | |
Unrealized Gains and Immaterial Unrealized Losses in AOCI, Before Tax | 1.1 | |
Unrealized gains and immaterial unrealized losses in AOCI, after tax | $ 0.7 | |
Realized gains on investments sold to facilitate the distribution of benefits | 0.8 | |
Realized gains on investments sold to facilitate the distribution of benefits, after tax | $ 0.6 | |
Percent of inputs to the fair value of derivative instruments from quoted market prices (percent) | 86.00% |
Fair Value (Fair Value and Cost
Fair Value (Fair Value and Cost of Non-Derivative Instruments) (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Realized gains on investments sold to facilitate the distribution of benefits, after tax | $ 0.6 | |
Unrealized Gains in AOCI, Net of Tax | 0.9 | |
Unrealized Gains and Immaterial Unrealized Losses in AOCI, Before Tax | $ 1 | |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Realized gains on investments sold to facilitate the distribution of benefits, after tax | 0.6 | |
Unrealized Gains in AOCI, Net of Tax | 1 | |
Unrealized Gains and Immaterial Unrealized Losses in AOCI, Before Tax | 1.1 | |
Cost [Member] | ||
Total Assets | 7.4 | 7.6 |
Cost [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Assets | 7.4 | 7.6 |
Fair Value [Member] | ||
Total Master Trust Assets, Fair Value | 9 | 8.7 |
Total Assets | 9 | 8.7 |
Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 9 | 8.7 |
Total Assets | 9 | 8.7 |
Money Market Funds [Member] | Cost [Member] | ||
Total Master Trust Assets, Cost | 0.4 | 0.4 |
Money Market Funds [Member] | Cost [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Cost | 0.4 | 0.4 |
Money Market Funds [Member] | Fair Value [Member] | ||
Total Master Trust Assets, Fair Value | 0.4 | 0.4 |
Money Market Funds [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0.4 | 0.4 |
Equity Securities [Member] | Cost [Member] | ||
Total Master Trust Assets, Cost | 2.6 | 2.4 |
Equity Securities [Member] | Cost [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Cost | 2.6 | 2.4 |
Equity Securities [Member] | Fair Value [Member] | ||
Total Master Trust Assets, Fair Value | 4.1 | 3.4 |
Equity Securities [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 4.1 | 3.4 |
Debt Securities [Member] | Cost [Member] | ||
Total Master Trust Assets, Cost | 4.2 | 4.4 |
Debt Securities [Member] | Cost [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Cost | 4.2 | 4.4 |
Debt Securities [Member] | Fair Value [Member] | ||
Total Master Trust Assets, Fair Value | 4.3 | 4.4 |
Debt Securities [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 4.3 | 4.4 |
Hedge Funds [Member] | Cost [Member] | ||
Total Master Trust Assets, Cost | 0.1 | 0 |
Hedge Funds [Member] | Cost [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Cost | 0.1 | 0 |
Hedge Funds [Member] | Fair Value [Member] | ||
Total Master Trust Assets, Fair Value | 0.1 | 0.1 |
Hedge Funds [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0.1 | 0.1 |
Real Estate Funds [Member] | Cost [Member] | ||
Total Master Trust Assets, Cost | 0 | 0.3 |
Real Estate Funds [Member] | Cost [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Cost | 0 | 0.3 |
Real Estate Funds [Member] | Fair Value [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0.3 |
Real Estate Funds [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0.3 |
Tangible Assets [Member] | Cost [Member] | ||
Total Master Trust Assets, Cost | 0.1 | 0.1 |
Tangible Assets [Member] | Cost [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Cost | 0.1 | 0.1 |
Tangible Assets [Member] | Fair Value [Member] | ||
Total Master Trust Assets, Fair Value | 0.1 | 0.1 |
Tangible Assets [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0.1 | 0.1 |
Debt [Member] | Cost [Member] | ||
Debt, Cost | 1,741.6 | 1,858 |
Debt [Member] | Cost [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Debt, Cost | 647.7 | 749 |
Debt [Member] | Fair Value [Member] | ||
Debt, Fair Value | 1,843.8 | 1,907.7 |
Debt [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Debt, Fair Value | $ 659.5 | $ 763.5 |
Fair Value (Fair Value of Asset
Fair Value (Fair Value of Assets and Liabilities Measured on Recurring Basis) (Details) - USD ($) $ in Millions | Sep. 30, 2017 | Dec. 31, 2016 |
Level 1 [Member] | ||
Total Master Trust Assets, Fair Value | $ 0.4 | $ 0.4 |
Total Derivative Assets | 0 | 0 |
Total Assets | 0.4 | 0.4 |
Total Derivative Liabilities | 0.8 | 0 |
Total Liabilities | 0.8 | 0 |
Level 1 [Member] | Commodity Contract - FTR [Member] | ||
Total Derivative Assets | 0 | |
Total Derivative Liabilities | 0 | |
Level 1 [Member] | Forward Contract Power [Member] | ||
Total Derivative Assets | 0 | 0 |
Total Derivative Liabilities | 0 | 0 |
Level 1 [Member] | Interest Rate Contract [Member] | ||
Total Derivative Assets | 0 | 0 |
Total Derivative Liabilities | 0 | 0 |
Level 1 [Member] | Natural Gas [Member] | ||
Total Derivative Assets | 0 | |
Total Derivative Liabilities | 0.8 | |
Level 1 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0.4 | 0.4 |
Total Derivative Assets | 0.9 | 0 |
Total Assets | 1.3 | 0.4 |
Total Derivative Liabilities | 0.8 | 0 |
Total Liabilities | 0.8 | 0 |
Level 1 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Commodity Contract - FTR [Member] | ||
Total Derivative Assets | 0 | |
Total Derivative Liabilities | 0 | |
Level 1 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Forward Contract Power [Member] | ||
Total Derivative Assets | 0 | 0 |
Total Derivative Liabilities | 0 | 0 |
Level 1 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Interest Rate Contract [Member] | ||
Total Derivative Assets | 0 | 0 |
Total Derivative Liabilities | 0 | 0 |
Level 1 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Natural Gas [Member] | ||
Total Derivative Assets | 0.9 | |
Total Derivative Liabilities | 0.8 | |
Level 2 [Member] | ||
Total Master Trust Assets, Fair Value | 8.6 | 8.3 |
Total Derivative Assets | 11.7 | 20.7 |
Total Assets | 20.3 | 29 |
Total Derivative Liabilities | 8.1 | 26.7 |
Total Liabilities | 1,834 | 1,916.4 |
Level 2 [Member] | Commodity Contract - FTR [Member] | ||
Total Derivative Assets | 0 | |
Total Derivative Liabilities | 0 | |
Level 2 [Member] | Forward Contract Power [Member] | ||
Total Derivative Assets | 10.8 | 19.5 |
Total Derivative Liabilities | 8.1 | 26 |
Level 2 [Member] | Interest Rate Contract [Member] | ||
Total Derivative Assets | 0.9 | 1.2 |
Total Derivative Liabilities | 0 | 0.7 |
Level 2 [Member] | Natural Gas [Member] | ||
Total Derivative Assets | 0 | |
Total Derivative Liabilities | 0 | |
Level 2 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 8.6 | 8.3 |
Total Derivative Assets | 10.8 | 20.7 |
Total Assets | 19.4 | 29 |
Total Derivative Liabilities | 8.1 | 26.7 |
Total Liabilities | 649.7 | 772.2 |
Level 2 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Commodity Contract - FTR [Member] | ||
Total Derivative Assets | 0 | |
Total Derivative Liabilities | 0 | |
Level 2 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Forward Contract Power [Member] | ||
Total Derivative Assets | 10.8 | 19.5 |
Total Derivative Liabilities | 8.1 | 26 |
Level 2 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Interest Rate Contract [Member] | ||
Total Derivative Assets | 0 | 1.2 |
Total Derivative Liabilities | 0 | 0.7 |
Level 2 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Natural Gas [Member] | ||
Total Derivative Assets | 0 | |
Total Derivative Liabilities | 0 | |
Level 3 [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Total Derivative Assets | 0 | 0.1 |
Total Assets | 0 | 0.1 |
Total Derivative Liabilities | 0.5 | 2.5 |
Total Liabilities | 18.4 | 20.5 |
Level 3 [Member] | Commodity Contract - FTR [Member] | ||
Total Derivative Assets | 0.1 | |
Total Derivative Liabilities | 0.5 | |
Level 3 [Member] | Forward Contract Power [Member] | ||
Total Derivative Assets | 0 | 0 |
Total Derivative Liabilities | 0 | 2.5 |
Level 3 [Member] | Interest Rate Contract [Member] | ||
Total Derivative Assets | 0 | 0 |
Total Derivative Liabilities | 0 | 0 |
Level 3 [Member] | Natural Gas [Member] | ||
Total Derivative Assets | 0 | |
Total Derivative Liabilities | 0 | |
Level 3 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Total Derivative Assets | 0 | 0.1 |
Total Assets | 0 | 0.1 |
Total Derivative Liabilities | 0.5 | 2.5 |
Total Liabilities | 18.4 | 20.5 |
Level 3 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Commodity Contract - FTR [Member] | ||
Total Derivative Assets | 0.1 | |
Total Derivative Liabilities | 0.5 | |
Level 3 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Forward Contract Power [Member] | ||
Total Derivative Assets | 0 | 0 |
Total Derivative Liabilities | 0 | 2.5 |
Level 3 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Interest Rate Contract [Member] | ||
Total Derivative Assets | 0 | 0 |
Total Derivative Liabilities | 0 | 0 |
Level 3 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Natural Gas [Member] | ||
Total Derivative Assets | 0 | |
Total Derivative Liabilities | 0 | |
Fair Value [Member] | ||
Total Master Trust Assets, Fair Value | 9 | 8.7 |
Total Derivative Assets | 11.7 | 20.8 |
Total Assets | 20.7 | 29.5 |
Total Derivative Liabilities | 9.4 | 29.2 |
Total Liabilities | 1,853.2 | 1,936.9 |
Fair Value [Member] | Commodity Contract - FTR [Member] | ||
Total Derivative Assets | 0.1 | |
Total Derivative Liabilities | 0.5 | |
Fair Value [Member] | Forward Contract Power [Member] | ||
Total Derivative Assets | 10.8 | 19.5 |
Total Derivative Liabilities | 8.1 | 28.5 |
Fair Value [Member] | Interest Rate Contract [Member] | ||
Total Derivative Assets | 0.9 | 1.2 |
Total Derivative Liabilities | 0 | 0.7 |
Fair Value [Member] | Natural Gas [Member] | ||
Total Derivative Assets | 0 | |
Total Derivative Liabilities | 0.8 | |
Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 9 | 8.7 |
Total Derivative Assets | 11.7 | 20.8 |
Total Assets | 20.7 | 29.5 |
Total Derivative Liabilities | 9.4 | 29.2 |
Total Liabilities | 668.9 | 792.7 |
Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Commodity Contract - FTR [Member] | ||
Total Derivative Assets | 0.1 | |
Total Derivative Liabilities | 0.5 | |
Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Forward Contract Power [Member] | ||
Total Derivative Assets | 10.8 | 19.5 |
Total Derivative Liabilities | 8.1 | 28.5 |
Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Interest Rate Contract [Member] | ||
Total Derivative Assets | 0 | 1.2 |
Total Derivative Liabilities | 0 | 0.7 |
Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Natural Gas [Member] | ||
Total Derivative Assets | 0.9 | |
Total Derivative Liabilities | 0.8 | |
Money Market Funds [Member] | Level 1 [Member] | ||
Total Master Trust Assets, Fair Value | 0.4 | 0.4 |
Money Market Funds [Member] | Level 1 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0.4 | 0.4 |
Money Market Funds [Member] | Level 2 [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Money Market Funds [Member] | Level 2 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Money Market Funds [Member] | Level 3 [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Money Market Funds [Member] | Level 3 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Money Market Funds [Member] | Fair Value [Member] | ||
Total Master Trust Assets, Fair Value | 0.4 | 0.4 |
Money Market Funds [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0.4 | 0.4 |
Equity Securities [Member] | Level 1 [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Equity Securities [Member] | Level 1 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Equity Securities [Member] | Level 2 [Member] | ||
Total Master Trust Assets, Fair Value | 4.1 | 3.4 |
Equity Securities [Member] | Level 2 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 4.1 | 3.4 |
Equity Securities [Member] | Level 3 [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Equity Securities [Member] | Level 3 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Equity Securities [Member] | Fair Value [Member] | ||
Total Master Trust Assets, Fair Value | 4.1 | 3.4 |
Equity Securities [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 4.1 | 3.4 |
Debt Securities [Member] | Level 1 [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Debt Securities [Member] | Level 1 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Debt Securities [Member] | Level 2 [Member] | ||
Total Master Trust Assets, Fair Value | 4.3 | 4.4 |
Debt Securities [Member] | Level 2 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 4.3 | 4.4 |
Debt Securities [Member] | Level 3 [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Debt Securities [Member] | Level 3 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Debt Securities [Member] | Fair Value [Member] | ||
Total Master Trust Assets, Fair Value | 4.3 | 4.4 |
Debt Securities [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 4.3 | 4.4 |
Hedge Funds [Member] | Level 1 [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Hedge Funds [Member] | Level 1 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Hedge Funds [Member] | Level 2 [Member] | ||
Total Master Trust Assets, Fair Value | 0.1 | 0.1 |
Hedge Funds [Member] | Level 2 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0.1 | 0.1 |
Hedge Funds [Member] | Level 3 [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Hedge Funds [Member] | Level 3 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Hedge Funds [Member] | Fair Value [Member] | ||
Total Master Trust Assets, Fair Value | 0.1 | 0.1 |
Hedge Funds [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0.1 | 0.1 |
Real Estate Funds [Member] | Level 1 [Member] | ||
Total Master Trust Assets, Fair Value | 0 | |
Real Estate Funds [Member] | Level 1 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0 | |
Real Estate Funds [Member] | Level 2 [Member] | ||
Total Master Trust Assets, Fair Value | 0.3 | |
Real Estate Funds [Member] | Level 2 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0.3 | |
Real Estate Funds [Member] | Level 3 [Member] | ||
Total Master Trust Assets, Fair Value | 0 | |
Real Estate Funds [Member] | Level 3 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0 | |
Real Estate Funds [Member] | Fair Value [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0.3 |
Real Estate Funds [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0.3 |
Tangible Assets [Member] | Level 1 [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Tangible Assets [Member] | Level 1 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Tangible Assets [Member] | Level 2 [Member] | ||
Total Master Trust Assets, Fair Value | 0.1 | 0.1 |
Tangible Assets [Member] | Level 2 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0.1 | 0.1 |
Tangible Assets [Member] | Level 3 [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Tangible Assets [Member] | Level 3 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Tangible Assets [Member] | Fair Value [Member] | ||
Total Master Trust Assets, Fair Value | 0.1 | 0.1 |
Tangible Assets [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0.1 | 0.1 |
Debt [Member] | Level 1 [Member] | ||
Debt | 0 | 0 |
Debt [Member] | Level 1 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Debt | 0 | 0 |
Debt [Member] | Level 2 [Member] | ||
Debt | 1,825.9 | 1,889.7 |
Debt [Member] | Level 2 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Debt | 641.6 | 745.5 |
Debt [Member] | Level 3 [Member] | ||
Debt | 17.9 | 18 |
Debt [Member] | Level 3 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Debt | 17.9 | 18 |
Debt [Member] | Fair Value [Member] | ||
Debt | 1,843.8 | 1,907.7 |
Debt [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Debt | $ 659.5 | $ 763.5 |
Fair Value Fair Value Measureme
Fair Value Fair Value Measurements (Fair Value of Assets and Liabilities Measured on a Non-recurring Basis) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant and Equipment, Net | $ 1,661.7 | $ 1,661.7 | $ 1,767.2 | ||
Impairment of Long-Lived Assets Held-for-use | 0 | $ 0 | 66.4 | $ 235.5 | |
Peaking Generating Facilities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant and Equipment, Net | 9.9 | 9.9 | |||
Impairment of Long-Lived Assets Held-for-use | 4.7 | ||||
Peaking Generating Facilities [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant, and Equipment, Fair Value Disclosure | 0 | 0 | |||
Peaking Generating Facilities [Member] | Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant, and Equipment, Fair Value Disclosure | 0 | 0 | |||
Peaking Generating Facilities [Member] | Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant, and Equipment, Fair Value Disclosure | 5.2 | 5.2 | |||
Killen [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant and Equipment, Net | 35.2 | 315.1 | 35.2 | 315.1 | |
Impairment of Long-Lived Assets Held-for-use | 27.3 | 230.8 | |||
Killen [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant, and Equipment, Fair Value Disclosure | 0 | 0 | 0 | 0 | |
Killen [Member] | Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant, and Equipment, Fair Value Disclosure | 0 | 0 | 0 | 0 | |
Killen [Member] | Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant, and Equipment, Fair Value Disclosure | 7.9 | 84.3 | 7.9 | 84.3 | |
Stuart [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant and Equipment, Net | 42.4 | 42.4 | |||
Impairment of Long-Lived Assets Held-for-use | 39.1 | ||||
Stuart [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant, and Equipment, Fair Value Disclosure | 0 | 0 | |||
Stuart [Member] | Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant, and Equipment, Fair Value Disclosure | 0 | 0 | |||
Stuart [Member] | Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant, and Equipment, Fair Value Disclosure | 3.3 | 3.3 | |||
THE DAYTON POWER AND LIGHT COMPANY [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant and Equipment, Net | 1,337.1 | 1,337.1 | $ 1,440.6 | ||
Impairment of Long-Lived Assets Held-for-use | 0 | 0 | 66.3 | 857.1 | |
THE DAYTON POWER AND LIGHT COMPANY [Member] | Zimmer [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant and Equipment, Net | 429.9 | 429.9 | |||
Impairment of Long-Lived Assets Held-for-use | 318.9 | ||||
THE DAYTON POWER AND LIGHT COMPANY [Member] | Zimmer [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant, and Equipment, Fair Value Disclosure | 0 | 0 | |||
THE DAYTON POWER AND LIGHT COMPANY [Member] | Zimmer [Member] | Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant, and Equipment, Fair Value Disclosure | 0 | 0 | |||
THE DAYTON POWER AND LIGHT COMPANY [Member] | Zimmer [Member] | Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant, and Equipment, Fair Value Disclosure | 111 | 111 | |||
THE DAYTON POWER AND LIGHT COMPANY [Member] | Killen [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant and Equipment, Net | 35.2 | 330.5 | 35.2 | 330.5 | |
Impairment of Long-Lived Assets Held-for-use | 27.3 | 246.2 | |||
THE DAYTON POWER AND LIGHT COMPANY [Member] | Killen [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant, and Equipment, Fair Value Disclosure | 0 | 0 | 0 | 0 | |
THE DAYTON POWER AND LIGHT COMPANY [Member] | Killen [Member] | Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant, and Equipment, Fair Value Disclosure | 0 | 0 | 0 | 0 | |
THE DAYTON POWER AND LIGHT COMPANY [Member] | Killen [Member] | Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant, and Equipment, Fair Value Disclosure | 7.9 | 84.3 | 7.9 | 84.3 | |
THE DAYTON POWER AND LIGHT COMPANY [Member] | Stuart [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant and Equipment, Net | 42.3 | 456.4 | 42.3 | 456.4 | |
Impairment of Long-Lived Assets Held-for-use | 39 | 292 | |||
THE DAYTON POWER AND LIGHT COMPANY [Member] | Stuart [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant, and Equipment, Fair Value Disclosure | 0 | 0 | 0 | 0 | |
THE DAYTON POWER AND LIGHT COMPANY [Member] | Stuart [Member] | Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant, and Equipment, Fair Value Disclosure | 0 | 0 | 0 | 0 | |
THE DAYTON POWER AND LIGHT COMPANY [Member] | Stuart [Member] | Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Property, Plant, and Equipment, Fair Value Disclosure | $ 3.3 | $ 164.4 | $ 3.3 | $ 164.4 | |
Income Approach Valuation Technique [Member] | Weighted Average [Member] | Peaking Generating Facilities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value Inputs, Long-term Pre-tax Operating Margin, Percent | (4.00%) | ||||
Fair Value Inputs, Discount Rate | 7.00% | ||||
Fair Value Inputs, Long-term Revenue Growth Rate | (3.00%) | ||||
Income Approach Valuation Technique [Member] | Weighted Average [Member] | Killen [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value Inputs, Long-term Pre-tax Operating Margin, Percent | 22.00% | 6.00% | |||
Fair Value Inputs, Discount Rate | 7.00% | 11.00% | |||
Fair Value Inputs, Long-term Revenue Growth Rate | 2.00% | ||||
Income Approach Valuation Technique [Member] | Weighted Average [Member] | Stuart [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value Inputs, Long-term Pre-tax Operating Margin, Percent | 10.00% | ||||
Fair Value Inputs, Discount Rate | 7.00% | ||||
Income Approach Valuation Technique [Member] | Weighted Average [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Zimmer [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value Inputs, Long-term Pre-tax Operating Margin, Percent | 4.00% | ||||
Fair Value Inputs, Discount Rate | 9.00% | ||||
Fair Value Inputs, Long-term Revenue Growth Rate | 1.00% | ||||
Income Approach Valuation Technique [Member] | Weighted Average [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Killen [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value Inputs, Long-term Pre-tax Operating Margin, Percent | 22.00% | 6.00% | |||
Fair Value Inputs, Discount Rate | 7.00% | 11.00% | |||
Fair Value Inputs, Long-term Revenue Growth Rate | 2.00% | ||||
Income Approach Valuation Technique [Member] | Weighted Average [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Stuart [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value Inputs, Long-term Pre-tax Operating Margin, Percent | 10.00% | 5.00% | |||
Fair Value Inputs, Discount Rate | 7.00% | 9.00% | |||
Fair Value Inputs, Long-term Revenue Growth Rate | 2.00% | ||||
Income Approach Valuation Technique [Member] | Minimum [Member] | Peaking Generating Facilities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value Inputs, Long-term Pre-tax Operating Margin, Percent | (29.00%) | ||||
Fair Value Inputs, Long-term Revenue Growth Rate | (22.00%) | ||||
Income Approach Valuation Technique [Member] | Minimum [Member] | Killen [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value Inputs, Long-term Pre-tax Operating Margin, Percent | (50.00%) | ||||
Fair Value Inputs, Long-term Revenue Growth Rate | (11.00%) | ||||
Income Approach Valuation Technique [Member] | Minimum [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Zimmer [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value Inputs, Long-term Pre-tax Operating Margin, Percent | (46.00%) | ||||
Fair Value Inputs, Long-term Revenue Growth Rate | (14.00%) | ||||
Income Approach Valuation Technique [Member] | Minimum [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Killen [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value Inputs, Long-term Pre-tax Operating Margin, Percent | (50.00%) | ||||
Fair Value Inputs, Long-term Revenue Growth Rate | (11.00%) | ||||
Income Approach Valuation Technique [Member] | Minimum [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Stuart [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value Inputs, Long-term Pre-tax Operating Margin, Percent | (29.00%) | ||||
Fair Value Inputs, Long-term Revenue Growth Rate | (9.00%) | ||||
Income Approach Valuation Technique [Member] | Maximum [Member] | Peaking Generating Facilities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value Inputs, Long-term Pre-tax Operating Margin, Percent | 24.00% | ||||
Fair Value Inputs, Long-term Revenue Growth Rate | 17.00% | ||||
Income Approach Valuation Technique [Member] | Maximum [Member] | Killen [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value Inputs, Long-term Pre-tax Operating Margin, Percent | 67.00% | ||||
Fair Value Inputs, Long-term Revenue Growth Rate | 13.00% | ||||
Income Approach Valuation Technique [Member] | Maximum [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Zimmer [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value Inputs, Long-term Pre-tax Operating Margin, Percent | 80.00% | ||||
Fair Value Inputs, Long-term Revenue Growth Rate | 13.00% | ||||
Income Approach Valuation Technique [Member] | Maximum [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Killen [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value Inputs, Long-term Pre-tax Operating Margin, Percent | 67.00% | ||||
Fair Value Inputs, Long-term Revenue Growth Rate | 13.00% | ||||
Income Approach Valuation Technique [Member] | Maximum [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Stuart [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value Inputs, Long-term Pre-tax Operating Margin, Percent | 52.00% | ||||
Fair Value Inputs, Long-term Revenue Growth Rate | 10.00% | ||||
Ash ponds, asbestos, river structures and underground storage tanks [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Increase (Decrease) in Asset Retirement Obligations | $ 1.9 | $ 3 | |||
Ash ponds, asbestos, river structures and underground storage tanks [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Increase (Decrease) in Asset Retirement Obligations | $ 0.8 | $ 3 |
Derivative Instruments and He45
Derivative Instruments and Hedging Activities (Narrative) (Details) | Sep. 30, 2017USD ($)Number_of_interest_rate_swaps | Dec. 31, 2016USD ($) |
Fair value of commodity derivative instruments | $ 9,400,000 | |
Collateral Already Posted, Aggregate Fair Value | 1,500,000 | |
Liability position offset by the asset position of counterparties with master netting agreements | 7,300,000 | |
Collateral if debt were to fall below investment grade | $ 600,000 | |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Debt Instrument, Number of Financial Covenants | Number_of_interest_rate_swaps | 2 | |
Fair value of commodity derivative instruments | $ 9,400,000 | |
Collateral Already Posted, Aggregate Fair Value | 1,500,000 | |
Liability position offset by the asset position of counterparties with master netting agreements | 7,300,000 | |
Collateral if debt were to fall below investment grade | 600,000 | |
Long-term Debt, Gross | 659,900,000 | |
One Point One Three To One Point One Seven Bonds Maturing In August Two Thousand Twenty [Member] | ||
Long-term Debt, Gross | 200,000,000 | |
One Point One Three To One Point One Seven Bonds Maturing In August Two Thousand Twenty [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Long-term Debt, Gross | 200,000,000 | |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | ||
Derivative, Notional Amount, Purchase (Sales), Net | 200,000,000 | $ 200,000,000 |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative, Notional Amount, Purchase (Sales), Net | $ 200,000,000 | $ 200,000,000 |
Derivative Instruments and He46
Derivative Instruments and Hedging Activities (Outstanding Derivative Instruments) (Details) | Sep. 30, 2017USD ($)MMBTUMWh | Dec. 31, 2016USD ($)MMBTUMWh |
Not Designated as Hedging Instrument [Member] | Commodity Contract - FTR [Member] | ||
Purchase of Units Derivative Instruments Financial Transmission Rights | 3,400 | 2,300 |
Sale of Units Derivative Instruments Financial Transmission Rights | 0 | 0 |
Derivative, Nonmonetary Notional Amount MWh | 3,400 | 2,300 |
Not Designated as Hedging Instrument [Member] | Natural Gas [Member] | ||
Purchase of Units Derivative Instruments Natural Gas | MMBTU | 6,625,000 | 1,590,000 |
Sale of Units Derivative Instruments Natural Gas | MMBTU | (390,000) | 0 |
Derivative, Nonmonetary Notional Amount MWh | MMBTU | 6,235,000 | 1,590,000 |
Not Designated as Hedging Instrument [Member] | Forward Contract Power [Member] | ||
Purchase of Units Derivative Instruments Forward Power Contracts Not Designated as Hedged | 1,082,800 | 2,568,300 |
Sales of Units Derivative Instruments Forward Power Contracts Not Designated as Hedged | (1,060,000) | (2,020,900) |
Derivative, Nonmonetary Notional Amount MWh | 22,800 | 547,400 |
Not Designated as Hedging Instrument [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Commodity Contract - FTR [Member] | ||
Purchase of Units Derivative Instruments Financial Transmission Rights | 3,400 | 2,300 |
Sale of Units Derivative Instruments Financial Transmission Rights | 0 | 0 |
Derivative, Nonmonetary Notional Amount MWh | 3,400 | 2,300 |
Not Designated as Hedging Instrument [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Natural Gas [Member] | ||
Purchase of Units Derivative Instruments Natural Gas | MMBTU | 6,625,000 | 1,590,000 |
Sale of Units Derivative Instruments Natural Gas | MMBTU | (390,000) | 0 |
Derivative, Nonmonetary Notional Amount MWh | MMBTU | 6,235,000 | 1,590,000 |
Not Designated as Hedging Instrument [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Forward Contract Power [Member] | ||
Purchase of Units Derivative Instruments Forward Power Contracts Not Designated as Hedged | 1,082,800 | 2,568,300 |
Sales of Units Derivative Instruments Forward Power Contracts Not Designated as Hedged | (1,060,000) | (2,037,500) |
Derivative, Nonmonetary Notional Amount MWh | 22,800 | 530,800 |
Designated as Hedging Instrument [Member] | Forward Contract Power [Member] | ||
Purchase of Units Derivative Instruments Forward Power Contracts Designated as Cash Flow Hedge | 649,000 | 342,900 |
Sales of Units Derivative Instruments Forward Power Contracts Designated as Cash Flow Hedge | (2,478,900) | (9,974,500) |
Derivative, Nonmonetary Notional Amount MWh | (1,829,900) | (9,631,600) |
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ||
Purchase of Derivative Instruments Interest Rate Swap | $ | $ 200,000,000 | $ 200,000,000 |
Sale of Derivative Instruments Interest Rate Swap | $ | 0 | 0 |
Derivative, Notional Amount, Purchase (Sales), Net | $ | $ 200,000,000 | $ 200,000,000 |
Designated as Hedging Instrument [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Forward Contract Power [Member] | ||
Purchase of Units Derivative Instruments Forward Power Contracts Designated as Cash Flow Hedge | 649,000 | 342,900 |
Sales of Units Derivative Instruments Forward Power Contracts Designated as Cash Flow Hedge | (2,478,900) | (9,974,500) |
Derivative, Nonmonetary Notional Amount MWh | (1,829,900) | (9,631,600) |
Designated as Hedging Instrument [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Interest Rate Swap [Member] | ||
Purchase of Derivative Instruments Interest Rate Swap | $ | $ 200,000,000 | $ 200,000,000 |
Sale of Derivative Instruments Interest Rate Swap | $ | 0 | 0 |
Derivative, Notional Amount, Purchase (Sales), Net | $ | $ 200,000,000 | $ 200,000,000 |
Derivative Instruments and He47
Derivative Instruments and Hedging Activities (Gains or Losses Recognized in AOCI for the Cash Flow Hedges) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Forward Contract Power [Member] | ||||
Accumulated Derivative Gain/Loss in AOCI [Roll Forward] | ||||
Beginning accumulated derivative gain / (loss) in AOCI | $ 3 | $ 3.4 | $ (4.3) | $ 9.2 |
Net gains / (losses) associated with current period hedging transactions | 1.3 | 9.5 | 11.9 | 22.4 |
Ending accumulated derivative gain / (loss) in AOCI | 2.1 | 7.5 | 2.1 | 7.5 |
Portion expected to be reclassified to earnings in the next twelve months | 1.5 | $ 1.5 | ||
Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) | 6 months | |||
Interest Rate Contract [Member] | ||||
Accumulated Derivative Gain/Loss in AOCI [Roll Forward] | ||||
Beginning accumulated derivative gain / (loss) in AOCI | 17.2 | 17.3 | $ 17.4 | 17.5 |
Net gains / (losses) associated with current period hedging transactions | 0.1 | 0 | 0.2 | 0 |
Ending accumulated derivative gain / (loss) in AOCI | 17.1 | 17.2 | 17.1 | 17.2 |
Portion expected to be reclassified to earnings in the next twelve months | (0.4) | $ (0.4) | ||
Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) | 37 months | |||
THE DAYTON POWER AND LIGHT COMPANY [Member] | Forward Contract Power [Member] | ||||
Accumulated Derivative Gain/Loss in AOCI [Roll Forward] | ||||
Beginning accumulated derivative gain / (loss) in AOCI | 3 | 3.4 | $ (4.3) | 9.2 |
Net gains / (losses) associated with current period hedging transactions | 1.3 | 9.5 | 11.9 | 22.5 |
Ending accumulated derivative gain / (loss) in AOCI | 2.1 | 7.5 | 2.1 | 7.5 |
Portion expected to be reclassified to earnings in the next twelve months | 1.5 | $ 1.5 | ||
Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) | 6 months | |||
THE DAYTON POWER AND LIGHT COMPANY [Member] | Interest Rate Contract [Member] | ||||
Accumulated Derivative Gain/Loss in AOCI [Roll Forward] | ||||
Beginning accumulated derivative gain / (loss) in AOCI | 1.4 | 1.6 | $ 1.6 | 2 |
Net gains / (losses) associated with current period hedging transactions | 0.1 | 0 | 0.2 | 0 |
Ending accumulated derivative gain / (loss) in AOCI | 1.3 | 1.4 | 1.3 | 1.4 |
Portion expected to be reclassified to earnings in the next twelve months | (0.4) | $ (0.4) | ||
Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) | 37 months | |||
Interest Expense [Member] | Forward Contract Power [Member] | ||||
Accumulated Derivative Gain/Loss in AOCI [Roll Forward] | ||||
Net gains losses reclassified to earnings | 0 | 0 | $ 0 | 0 |
Interest Expense [Member] | Interest Rate Contract [Member] | ||||
Accumulated Derivative Gain/Loss in AOCI [Roll Forward] | ||||
Net gains losses reclassified to earnings | (0.2) | (0.1) | (0.5) | (0.3) |
Interest Expense [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Forward Contract Power [Member] | ||||
Accumulated Derivative Gain/Loss in AOCI [Roll Forward] | ||||
Net gains losses reclassified to earnings | 0 | 0 | 0 | 0 |
Interest Expense [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Interest Rate Contract [Member] | ||||
Accumulated Derivative Gain/Loss in AOCI [Roll Forward] | ||||
Net gains losses reclassified to earnings | (0.2) | (0.2) | (0.5) | (0.6) |
Revenue [Member] | Forward Contract Power [Member] | ||||
Accumulated Derivative Gain/Loss in AOCI [Roll Forward] | ||||
Net gains losses reclassified to earnings | (2.7) | (6) | (8.1) | (30) |
Revenue [Member] | Interest Rate Contract [Member] | ||||
Accumulated Derivative Gain/Loss in AOCI [Roll Forward] | ||||
Net gains losses reclassified to earnings | 0 | 0 | 0 | 0 |
Revenue [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Forward Contract Power [Member] | ||||
Accumulated Derivative Gain/Loss in AOCI [Roll Forward] | ||||
Net gains losses reclassified to earnings | (2.7) | (6) | (8.1) | (30.1) |
Revenue [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Interest Rate Contract [Member] | ||||
Accumulated Derivative Gain/Loss in AOCI [Roll Forward] | ||||
Net gains losses reclassified to earnings | 0 | 0 | 0 | 0 |
Purchased Power [Member] | Forward Contract Power [Member] | ||||
Accumulated Derivative Gain/Loss in AOCI [Roll Forward] | ||||
Net gains losses reclassified to earnings | 0.5 | 0.6 | 2.6 | 5.9 |
Purchased Power [Member] | Interest Rate Contract [Member] | ||||
Accumulated Derivative Gain/Loss in AOCI [Roll Forward] | ||||
Net gains losses reclassified to earnings | 0 | 0 | 0 | 0 |
Purchased Power [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Forward Contract Power [Member] | ||||
Accumulated Derivative Gain/Loss in AOCI [Roll Forward] | ||||
Net gains losses reclassified to earnings | 0.5 | 0.6 | 2.6 | 5.9 |
Purchased Power [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Interest Rate Contract [Member] | ||||
Accumulated Derivative Gain/Loss in AOCI [Roll Forward] | ||||
Net gains losses reclassified to earnings | $ 0 | $ 0 | $ 0 | $ 0 |
Derivative Instruments and He48
Derivative Instruments and Hedging Activities (Classification within the Condensed Consolidated Statements of Results of Operations or Balance Sheets of the Gains and Losses) (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Change in unrealized gain / (loss) | $ (1.2) | $ 0.9 | $ 1 | $ 2.7 |
Realized gain / (loss) | 1.9 | (2.3) | (1.2) | (5) |
Derivative, Gain (Loss) on Derivative, Net | 0.7 | (1.4) | (0.2) | (2.3) |
Commodity Contract - FTR [Member] | ||||
Change in unrealized gain / (loss) | 0.2 | 0 | (0.5) | 0.4 |
Realized gain / (loss) | 0.2 | (0.1) | 0.5 | (0.4) |
Derivative, Gain (Loss) on Derivative, Net | 0.4 | (0.1) | 0 | 0 |
Forward Contract Power [Member] | ||||
Change in unrealized gain / (loss) | (1.4) | 1.2 | 2.3 | 2.3 |
Realized gain / (loss) | 1.9 | (2.4) | (1.4) | (5.3) |
Derivative, Gain (Loss) on Derivative, Net | 0.5 | (1.2) | 0.9 | (3) |
Natural Gas [Member] | ||||
Change in unrealized gain / (loss) | 0 | (0.3) | (0.8) | 0 |
Realized gain / (loss) | (0.2) | 0.2 | (0.3) | 0.7 |
Derivative, Gain (Loss) on Derivative, Net | (0.2) | (0.1) | (1.1) | 0.7 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
Change in unrealized gain / (loss) | (1.2) | 0.9 | 0.9 | 2.7 |
Realized gain / (loss) | 1.9 | (2.3) | (1.3) | (5) |
Derivative, Gain (Loss) on Derivative, Net | 0.7 | (1.4) | (0.4) | (2.3) |
THE DAYTON POWER AND LIGHT COMPANY [Member] | Commodity Contract - FTR [Member] | ||||
Change in unrealized gain / (loss) | 0.2 | 0 | (0.5) | 0.4 |
Realized gain / (loss) | 0.2 | (0.1) | 0.5 | (0.4) |
Derivative, Gain (Loss) on Derivative, Net | 0.4 | (0.1) | 0 | 0 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | Forward Contract Power [Member] | ||||
Change in unrealized gain / (loss) | (1.4) | 1.2 | 2.2 | 2.3 |
Realized gain / (loss) | 1.9 | (2.4) | (1.5) | (5.3) |
Derivative, Gain (Loss) on Derivative, Net | 0.5 | (1.2) | 0.7 | (3) |
THE DAYTON POWER AND LIGHT COMPANY [Member] | Natural Gas [Member] | ||||
Change in unrealized gain / (loss) | 0 | (0.3) | (0.8) | 0 |
Realized gain / (loss) | (0.2) | 0.2 | (0.3) | 0.7 |
Derivative, Gain (Loss) on Derivative, Net | (0.2) | (0.1) | (1.1) | 0.7 |
Revenue [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net | 3.3 | (10.4) | (2.6) | (13.1) |
Revenue [Member] | Commodity Contract - FTR [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net | 0 | 0 | 0 | 0 |
Revenue [Member] | Forward Contract Power [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net | 3.3 | (10.4) | (2.6) | (13.1) |
Revenue [Member] | Natural Gas [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net | 0 | 0 | 0 | 0 |
Revenue [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net | 3.3 | (10.4) | (2.7) | (13.1) |
Revenue [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Commodity Contract - FTR [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net | 0 | 0 | 0 | 0 |
Revenue [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Forward Contract Power [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net | 3.3 | (10.4) | (2.7) | (13.1) |
Revenue [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Natural Gas [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net | 0 | 0 | 0 | 0 |
Purchased Power [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net | (2.6) | 9 | 2.4 | 10.8 |
Purchased Power [Member] | Commodity Contract - FTR [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net | 0.4 | (0.1) | 0 | 0 |
Purchased Power [Member] | Forward Contract Power [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net | (2.8) | 9.2 | 3.5 | 10.1 |
Purchased Power [Member] | Natural Gas [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net | (0.2) | (0.1) | (1.1) | 0.7 |
Purchased Power [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net | (2.6) | 9 | 2.3 | 10.8 |
Purchased Power [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Commodity Contract - FTR [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net | 0.4 | (0.1) | 0 | 0 |
Purchased Power [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Forward Contract Power [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net | (2.8) | 9.2 | 3.4 | 10.1 |
Purchased Power [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Natural Gas [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net | $ (0.2) | $ (0.1) | $ (1.1) | $ 0.7 |
Derivative Instruments and He49
Derivative Instruments and Hedging Activities (Fair Value and Balance Sheet Location (Details) - USD ($) $ in Millions | Sep. 30, 2017 | Dec. 31, 2016 |
Derivative Liability, Fair Value | $ 9.4 | |
Liability position offset by the asset position of counterparties with master netting agreements | 7.3 | |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Liability, Fair Value | 9.4 | |
Liability position offset by the asset position of counterparties with master netting agreements | 7.3 | |
Total Assets [Member] | ||
Derivative Asset, Fair Value | 11.7 | $ 20.8 |
Derivative, Collateral, Obligation to Return Securities | (7.3) | (16.8) |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 4.4 | 4 |
Total Assets [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Asset, Fair Value | 11.7 | 20.8 |
Derivative, Collateral, Obligation to Return Securities | (7.3) | (16.8) |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 4.4 | 4 |
Total Liabilities [Member] | ||
Derivative Liability, Fair Value | 9.4 | 29.2 |
Derivative, Collateral, Right to Reclaim Securities | (7.3) | (16.8) |
Derivative, Collateral, Right to Reclaim Cash | (1.5) | (6.3) |
Liability position offset by the asset position of counterparties with master netting agreements | 0.6 | 6.1 |
Total Liabilities [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Liability, Fair Value | 9.4 | 29.2 |
Derivative, Collateral, Right to Reclaim Securities | (7.3) | (16.8) |
Derivative, Collateral, Right to Reclaim Cash | (1.5) | (6.3) |
Liability position offset by the asset position of counterparties with master netting agreements | 0.6 | 6.1 |
Cash Flow Hedging [Member] | Forward Contract Power [Member] | Short-term Derivative Positions [Member] | Other Prepayments and Current Assets [Member] | ||
Derivative Asset, Fair Value | 7 | 11 |
Derivative, Collateral, Obligation to Return Securities | (4.6) | (10.5) |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 2.4 | 0.5 |
Cash Flow Hedging [Member] | Forward Contract Power [Member] | Short-term Derivative Positions [Member] | Other Prepayments and Current Assets [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Asset, Fair Value | 7 | 11 |
Derivative, Collateral, Obligation to Return Securities | (4.6) | (10.5) |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 2.4 | 0.5 |
Cash Flow Hedging [Member] | Forward Contract Power [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | ||
Derivative Liability, Fair Value | 4.6 | 16.4 |
Derivative, Collateral, Right to Reclaim Securities | (4.6) | (10.5) |
Derivative, Collateral, Right to Reclaim Cash | 0 | (5.5) |
Liability position offset by the asset position of counterparties with master netting agreements | 0 | 0.4 |
Cash Flow Hedging [Member] | Forward Contract Power [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Liability, Fair Value | 4.6 | 16.4 |
Derivative, Collateral, Right to Reclaim Securities | (4.6) | (10.5) |
Derivative, Collateral, Right to Reclaim Cash | 0 | (5.5) |
Liability position offset by the asset position of counterparties with master netting agreements | 0 | 0.4 |
Cash Flow Hedging [Member] | Forward Contract Power [Member] | Long-term Derivative Positions [Member] | Other Deferred Asset [Member] | ||
Derivative Asset, Fair Value | 0.6 | |
Derivative, Collateral, Obligation to Return Securities | (0.6) | |
Derivative, Collateral, Obligation to Return Cash | 0 | |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0 | |
Cash Flow Hedging [Member] | Forward Contract Power [Member] | Long-term Derivative Positions [Member] | Other Deferred Asset [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Asset, Fair Value | 0.6 | |
Derivative, Collateral, Obligation to Return Securities | (0.6) | |
Derivative, Collateral, Obligation to Return Cash | 0 | |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0 | |
Cash Flow Hedging [Member] | Forward Contract Power [Member] | Long-term Derivative Positions [Member] | Other Deferred Credit [Member] | ||
Derivative Liability, Fair Value | 2.4 | |
Derivative, Collateral, Right to Reclaim Securities | (0.6) | |
Derivative, Collateral, Right to Reclaim Cash | (0.8) | |
Liability position offset by the asset position of counterparties with master netting agreements | 1 | |
Cash Flow Hedging [Member] | Forward Contract Power [Member] | Long-term Derivative Positions [Member] | Other Deferred Credit [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Liability, Fair Value | 2.4 | |
Derivative, Collateral, Right to Reclaim Securities | (0.6) | |
Derivative, Collateral, Right to Reclaim Cash | (0.8) | |
Liability position offset by the asset position of counterparties with master netting agreements | 1 | |
Cash Flow Hedging [Member] | Natural Gas Futures [Member] | Long-term Derivative Positions [Member] | Other Deferred Asset [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Asset, Fair Value | 0 | |
Derivative, Collateral, Obligation to Return Securities | 0 | |
Derivative, Collateral, Obligation to Return Cash | 0 | |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0 | |
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | ||
Derivative Liability, Fair Value | 0.7 | |
Derivative, Collateral, Right to Reclaim Securities | 0 | |
Derivative, Collateral, Right to Reclaim Cash | 0 | |
Liability position offset by the asset position of counterparties with master netting agreements | 0.7 | |
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Liability, Fair Value | 0.7 | |
Derivative, Collateral, Right to Reclaim Securities | 0 | |
Derivative, Collateral, Right to Reclaim Cash | 0 | |
Liability position offset by the asset position of counterparties with master netting agreements | 0.7 | |
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Long-term Derivative Positions [Member] | Other Deferred Asset [Member] | ||
Derivative Asset, Fair Value | 0.9 | 1.2 |
Derivative, Collateral, Obligation to Return Securities | 0 | 0 |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0.9 | 1.2 |
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Long-term Derivative Positions [Member] | Other Deferred Asset [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Asset, Fair Value | 0.9 | 1.2 |
Derivative, Collateral, Obligation to Return Securities | 0 | 0 |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0.9 | 1.2 |
Fair Value Hedging [Member] | Commodity Contract - FTR [Member] | Short-term Derivative Positions [Member] | Other Prepayments and Current Assets [Member] | ||
Derivative Asset, Fair Value | 0.1 | |
Derivative, Collateral, Obligation to Return Securities | 0 | |
Derivative, Collateral, Obligation to Return Cash | 0 | |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0.1 | |
Fair Value Hedging [Member] | Commodity Contract - FTR [Member] | Short-term Derivative Positions [Member] | Other Prepayments and Current Assets [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Asset, Fair Value | 0.1 | |
Derivative, Collateral, Obligation to Return Securities | 0 | |
Derivative, Collateral, Obligation to Return Cash | 0 | |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0.1 | |
Fair Value Hedging [Member] | Commodity Contract - FTR [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | ||
Derivative Liability, Fair Value | 0.5 | |
Derivative, Collateral, Right to Reclaim Securities | 0 | |
Derivative, Collateral, Right to Reclaim Cash | 0 | |
Liability position offset by the asset position of counterparties with master netting agreements | 0.5 | |
Fair Value Hedging [Member] | Commodity Contract - FTR [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Liability, Fair Value | 0.5 | |
Derivative, Collateral, Right to Reclaim Securities | 0 | |
Derivative, Collateral, Right to Reclaim Cash | 0 | |
Liability position offset by the asset position of counterparties with master netting agreements | 0.5 | |
Fair Value Hedging [Member] | Natural Gas [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | ||
Derivative Liability, Fair Value | 0.8 | |
Derivative, Collateral, Right to Reclaim Securities | 0 | |
Derivative, Collateral, Right to Reclaim Cash | (0.8) | |
Liability position offset by the asset position of counterparties with master netting agreements | 0 | |
Fair Value Hedging [Member] | Natural Gas [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Liability, Fair Value | 0.8 | |
Derivative, Collateral, Right to Reclaim Securities | 0 | |
Derivative, Collateral, Right to Reclaim Cash | (0.8) | |
Liability position offset by the asset position of counterparties with master netting agreements | 0 | |
Fair Value Hedging [Member] | Forward Contract Power [Member] | Short-term Derivative Positions [Member] | Other Prepayments and Current Assets [Member] | ||
Derivative Asset, Fair Value | 3.5 | 6 |
Derivative, Collateral, Obligation to Return Securities | (2.7) | (4.7) |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0.8 | 1.3 |
Fair Value Hedging [Member] | Forward Contract Power [Member] | Short-term Derivative Positions [Member] | Other Prepayments and Current Assets [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Asset, Fair Value | 3.5 | 6 |
Derivative, Collateral, Obligation to Return Securities | (2.7) | (4.7) |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0.8 | 1.3 |
Fair Value Hedging [Member] | Forward Contract Power [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | ||
Derivative Liability, Fair Value | 3.5 | 7.7 |
Derivative, Collateral, Right to Reclaim Securities | (2.7) | (4.7) |
Derivative, Collateral, Right to Reclaim Cash | (0.7) | 0 |
Liability position offset by the asset position of counterparties with master netting agreements | 0.1 | 3 |
Fair Value Hedging [Member] | Forward Contract Power [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Liability, Fair Value | 3.5 | 7.7 |
Derivative, Collateral, Right to Reclaim Securities | (2.7) | (4.7) |
Derivative, Collateral, Right to Reclaim Cash | (0.7) | 0 |
Liability position offset by the asset position of counterparties with master netting agreements | 0.1 | 3 |
Fair Value Hedging [Member] | Forward Contract Power [Member] | Long-term Derivative Positions [Member] | Other Deferred Asset [Member] | ||
Derivative Asset, Fair Value | 0.3 | 1.9 |
Derivative, Collateral, Obligation to Return Securities | 0 | (1) |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0.3 | 0.9 |
Fair Value Hedging [Member] | Forward Contract Power [Member] | Long-term Derivative Positions [Member] | Other Deferred Asset [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Asset, Fair Value | 0.3 | 1.9 |
Derivative, Collateral, Obligation to Return Securities | 0 | (1) |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0.3 | 0.9 |
Fair Value Hedging [Member] | Forward Contract Power [Member] | Long-term Derivative Positions [Member] | Other Deferred Credit [Member] | ||
Derivative Liability, Fair Value | 2 | |
Derivative, Collateral, Right to Reclaim Securities | (1) | |
Derivative, Collateral, Right to Reclaim Cash | 0 | |
Liability position offset by the asset position of counterparties with master netting agreements | 1 | |
Fair Value Hedging [Member] | Forward Contract Power [Member] | Long-term Derivative Positions [Member] | Other Deferred Credit [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Liability, Fair Value | 2 | |
Derivative, Collateral, Right to Reclaim Securities | (1) | |
Derivative, Collateral, Right to Reclaim Cash | 0 | |
Liability position offset by the asset position of counterparties with master netting agreements | $ 1 | |
Fair Value Hedging [Member] | Natural Gas Futures [Member] | Short-term Derivative Positions [Member] | Other Prepayments and Current Assets [Member] | ||
Derivative Asset, Fair Value | 0 | |
Derivative, Collateral, Obligation to Return Securities | 0 | |
Derivative, Collateral, Obligation to Return Cash | 0 | |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0 | |
Fair Value Hedging [Member] | Natural Gas Futures [Member] | Short-term Derivative Positions [Member] | Other Prepayments and Current Assets [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Asset, Fair Value | 0 | |
Derivative, Collateral, Obligation to Return Securities | 0 | |
Derivative, Collateral, Obligation to Return Cash | 0 | |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0 | |
Fair Value Hedging [Member] | Natural Gas Futures [Member] | Long-term Derivative Positions [Member] | Other Deferred Asset [Member] | ||
Derivative Asset, Fair Value | 0 | |
Derivative, Collateral, Obligation to Return Securities | 0 | |
Derivative, Collateral, Obligation to Return Cash | 0 | |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0 | |
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | ||
Derivative Liability, Fair Value | 0 | |
Derivative, Collateral, Right to Reclaim Securities | 0 | |
Derivative, Collateral, Right to Reclaim Cash | 0 | |
Liability position offset by the asset position of counterparties with master netting agreements | 0 | |
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Short-term Derivative Positions [Member] | Other Current Liabilities [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Liability, Fair Value | 0 | |
Derivative, Collateral, Right to Reclaim Securities | 0 | |
Derivative, Collateral, Right to Reclaim Cash | 0 | |
Liability position offset by the asset position of counterparties with master netting agreements | 0 | |
Not Designated as Hedging Instrument [Member] | Natural Gas Futures [Member] | Long-term Derivative Positions [Member] | Other Deferred Credit [Member] | ||
Derivative Liability, Fair Value | 0 | |
Derivative, Collateral, Right to Reclaim Securities | 0 | |
Derivative, Collateral, Right to Reclaim Cash | 0 | |
Liability position offset by the asset position of counterparties with master netting agreements | 0 | |
Not Designated as Hedging Instrument [Member] | Natural Gas Futures [Member] | Long-term Derivative Positions [Member] | Other Deferred Credit [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Liability, Fair Value | 0 | |
Derivative, Collateral, Right to Reclaim Securities | 0 | |
Derivative, Collateral, Right to Reclaim Cash | 0 | |
Liability position offset by the asset position of counterparties with master netting agreements | $ 0 |
Debt (Narrative) (Details)
Debt (Narrative) (Details) | Oct. 30, 2017USD ($) | Aug. 07, 2017USD ($) | Jun. 23, 2017USD ($) | Sep. 30, 2017USD ($)fiscal_quarterdebt_covenant | Sep. 30, 2016USD ($) | Jun. 30, 2018USD ($) | Dec. 31, 2016USD ($) |
Debt Instrument [Line Items] | |||||||
Long-term Line of Credit | $ 50,000,000 | ||||||
Retirement of long-term debt | $ 122,100,000 | $ 520,800,000 | |||||
Total Debt to Total Capitalization Ratio | 0.46 | ||||||
THE DAYTON POWER AND LIGHT COMPANY [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Line of Credit | $ 15,000,000 | ||||||
Long-term Debt, Gross | 659,900,000 | ||||||
Retirement of long-term debt | $ 103,300,000 | $ 445,300,000 | |||||
Total Debt to Total Capitalization Ratio | 0.46 | ||||||
Four Point Eight Zero Percentage Of Bonds Maturing In September Two Thousand Thirty Six [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Extinguishment of Debt, Amount | $ 21,900,000 | $ 8,100,000 | |||||
Long-term Debt, Gross | $ 100,000,000 | ||||||
Debt instrument interest percentage | 4.80% | ||||||
Four Point Eight Zero Percentage Of Bonds Maturing In September Two Thousand Thirty Six [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Extinguishment of Debt, Amount | $ 21,900,000 | $ 8,100,000 | |||||
Long-term Debt, Gross | $ 0 | 100,000,000 | |||||
Debt instrument interest percentage | 4.80% | ||||||
Term Loan Maturing 2022 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt, Gross | $ 441,700,000 | 445,000,000 | |||||
Term Loan Maturing 2022 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt, Gross | $ 441,700,000 | $ 445,000,000 | |||||
Revolving Credit Agreement and Standby Letters of Credit [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Number of financial covenants | debt_covenant | 2 | ||||||
Number of prior quarters included in EBITDA to interest calculation | fiscal_quarter | 4 | ||||||
DPL Revolving Credit Agreement and Term Loan Maturing July 2020 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Number of financial covenants | debt_covenant | 2 | ||||||
Number of prior quarters included in EBITDA to interest calculation | fiscal_quarter | 4 | ||||||
Number of prior quarters included in debt to EBITDA ratio | fiscal_quarter | 4 | ||||||
Subsequent Event [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Repayments of Debt | $ 70,000,000 | ||||||
Long Term Indebtedness, Less than or Equal to | $ 750,000,000 | ||||||
Subsequent Event [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Repayments of Debt | $ 70,000,000 | ||||||
Long Term Indebtedness, Less than or Equal to | $ 750,000,000 |
Debt (Long-term Debt) (Details)
Debt (Long-term Debt) (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | |
Debt Instrument [Line Items] | |||
Capital Lease Obligations | $ 0.3 | $ 0.4 | |
Unamortized deferred finance costs | (9.9) | (10.7) | |
Unamortized deferred finance costs | (7.4) | (8.8) | |
Unamortized long-term debt discounts and premiums, net | (0.6) | (0.6) | |
Total long-term debt at subsidiary | 648 | 747.2 | |
Total long-term debt | 1,741.9 | 1,858.4 | |
Less: current portion | (29.7) | (29.7) | |
Long-term debt | $ 1,712.2 | 1,828.7 | |
Long-term debt, earliest maturities | 2,019 | ||
Long-term debt, latest maturities | 2,061 | ||
THE DAYTON POWER AND LIGHT COMPANY [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 659.9 | ||
Capital Lease Obligations | 0.3 | 0.4 | |
Unamortized deferred finance costs | (9.9) | (11.8) | |
Unamortized long-term debt discounts and premiums, net | (2) | (5.5) | |
Unamortized long-term debt discounts | (2) | (2.2) | |
Total long-term debt | 648 | 749.4 | |
Less: current portion | (4.7) | (4.7) | |
Long-term debt | $ 643.3 | 744.7 | |
Long-term debt, earliest maturities | 2,020 | ||
Long-term debt, latest maturities | 2,061 | ||
Term Loan Maturing 2022 [Domain] | |||
Debt Instrument [Line Items] | |||
Debt instrument maturity year | Aug. 24, 2022 | ||
Term Loan Maturing 2022 [Domain] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument maturity year | Aug. 24, 2022 | ||
Term Loan Maturing 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 441.7 | 445 | |
Term Loan Maturing 2022 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 441.7 | 445 | |
Four Point Eight Zero Percentage Of Bonds Maturing In September Two Thousand Thirty Six [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 100 | ||
Debt instrument maturity year | Sep. 1, 2036 | ||
Debt instrument interest percentage | 4.80% | ||
Four Point Eight Zero Percentage Of Bonds Maturing In September Two Thousand Thirty Six [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 0 | 100 | |
Debt instrument maturity year | Sep. 1, 2036 | ||
Debt instrument interest percentage | 4.80% | ||
Pollution Control Series Maturing in August 2020 - 1.13% - 1.14% [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument maturity year | Aug. 1, 2020 | ||
Pollution Control Series Maturing in August 2020 - 1.13% - 1.14% [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 200 | 200 | |
Debt instrument maturity year | Aug. 1, 2020 | ||
U.S. Government note maturing in February 2061 - 4.20% [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 17.9 | 18 | |
Debt instrument maturity year | Feb. 1, 2061 | ||
Debt instrument interest percentage | 4.20% | ||
U.S. Government note maturing in February 2061 - 4.20% [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 17.9 | 18 | |
Debt instrument maturity year | Feb. 1, 2061 | ||
Debt instrument interest percentage | 4.20% | ||
Bank term loan due in July 2020 - rates from: 2.44% - 2.45% [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 106.3 | 125 | |
Debt instrument maturity year | Jul. 31, 2020 | ||
Senior unsecured due in October 2019 - 6.75% [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 200 | 200 | |
Debt instrument maturity year | Oct. 1, 2019 | ||
Debt instrument interest percentage | 6.75% | ||
Senior unsecured due in October 2021 - 7.25% [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 780 | 780 | |
Debt instrument maturity year | Oct. 1, 2021 | ||
Debt instrument interest percentage | 7.25% | ||
Note to DPL Capital Trust II Maturing in September 2031 - 8.125% [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | $ 15.6 | $ 15.6 | |
Debt instrument maturity year | Sep. 1, 2031 | ||
Debt instrument interest percentage | 8.125% | ||
Maximum [Member] | Term Loan Maturing 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument interest percentage | 4.49% | ||
Debt Instrument, Interest Rate, Effective Percentage | 4.01% | ||
Maximum [Member] | Term Loan Maturing 2022 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument interest percentage | 4.49% | ||
Debt Instrument, Interest Rate, Effective Percentage | 4.01% | ||
Maximum [Member] | Pollution Control Series Maturing in August 2020 - 1.13% - 1.14% [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument interest percentage | 1.42% | ||
Maximum [Member] | Zero Point Two Three To Zero Point Two Nine And Zero Point One Six To Zero Point Three Six Percentage Of Bonds Maturing In November Two Thousand Forty [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument interest percentage | 1.834% | ||
Maximum [Member] | Zero Point Two Three To Zero Point Two Nine And Zero Point One Six To Zero Point Three Six Percentage Of Bonds Maturing In November Two Thousand Forty [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument interest percentage | 1.83% | 1.42% | |
Maximum [Member] | Bank term loan due in July 2020 - rates from: 2.44% - 2.45% [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument interest percentage | 3.989% | 3.02% | |
Minimum [Member] | Term Loan Maturing 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument interest percentage | 4.00% | ||
Debt Instrument, Interest Rate, Effective Percentage | 4.01% | ||
Minimum [Member] | Term Loan Maturing 2022 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument interest percentage | 4.00% | ||
Debt Instrument, Interest Rate, Effective Percentage | 4.01% | ||
Minimum [Member] | Pollution Control Series Maturing in August 2020 - 1.13% - 1.14% [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument interest percentage | 1.29% | ||
Minimum [Member] | Zero Point Two Three To Zero Point Two Nine And Zero Point One Six To Zero Point Three Six Percentage Of Bonds Maturing In November Two Thousand Forty [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument interest percentage | 1.52% | ||
Minimum [Member] | Zero Point Two Three To Zero Point Two Nine And Zero Point One Six To Zero Point Three Six Percentage Of Bonds Maturing In November Two Thousand Forty [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument interest percentage | 1.52% | 1.29% | |
Minimum [Member] | Bank term loan due in July 2020 - rates from: 2.44% - 2.45% [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument interest percentage | 3.02% | 2.67% |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Entity Information [Line Items] | ||||
Effective income tax rates | 21.80% | 45.70% | 36.90% | 38.60% |
Estimated annual effective income tax rate | 36.00% | 38.60% | ||
Change in effective tax rate after adjustment for flow-through depreciation | 10.80% | |||
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
Entity Information [Line Items] | ||||
Effective income tax rates | 28.90% | 39.60% | 5.30% | 36.70% |
Estimated annual effective income tax rate | 19.00% | 36.70% | ||
Income Taxes Paid, Net | $ 22.2 | $ 0.3 | ||
Change in effective tax rate after adjustment for flow-through depreciation | 8.15% |
Benefit Plans (Net Periodic Ben
Benefit Plans (Net Periodic Benefit Cost (Income)) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Jun. 30, 2017 | Dec. 31, 2016 | |
Pension [Member] | ||||||
Contributions by employer | $ 5 | $ 5 | ||||
Service cost | $ 1.5 | $ 1.4 | 4.3 | 4.2 | ||
Interest cost | 3.5 | 3.7 | 10.6 | 11.1 | ||
Expected return on assets | (5.7) | (5.7) | (17.1) | (17.1) | ||
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Curtailment | 0 | 0 | (4.1) | 0 | ||
Prior service cost | 0.2 | 0.4 | 0.8 | 1.4 | ||
Actuarial loss / (gain) | 1.3 | 1.1 | 4 | 3.2 | ||
Net periodic benefit cost | 0.8 | 0.9 | 6.7 | 2.8 | ||
Postretirement [Member] | ||||||
Defined Benefit Plan, Funded (Unfunded) Status of Plan | $ 15.7 | $ 15.8 | ||||
THE DAYTON POWER AND LIGHT COMPANY [Member] | Pension [Member] | ||||||
Contributions by employer | 5 | 5 | ||||
Service cost | 1.5 | 1.4 | 4.3 | 4.2 | ||
Interest cost | 3.5 | 3.7 | 10.6 | 11.1 | ||
Expected return on assets | (5.7) | (5.7) | (17.1) | (17.1) | ||
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Curtailment | 0 | 0 | (5.6) | 0 | ||
Prior service cost | 0.3 | 0.8 | 1.1 | 2.3 | ||
Actuarial loss / (gain) | 2.1 | 1.8 | 6.6 | 5.4 | ||
Net periodic benefit cost | $ 1.7 | $ 2 | $ 11.1 | $ 5.9 | ||
THE DAYTON POWER AND LIGHT COMPANY [Member] | Postretirement [Member] | ||||||
Defined Benefit Plan, Funded (Unfunded) Status of Plan | $ 15.7 | $ 15.8 |
Benefit Plans (Estimated Future
Benefit Plans (Estimated Future Benefit Payments and Medicare Part D Reimbursements) (Details) - Pension [Member] $ in Millions | Sep. 30, 2017USD ($) |
2,016 | $ 6.3 |
2,017 | 25.5 |
2,018 | 26 |
2,019 | 26.4 |
2,020 | 26.7 |
2021 - 2025 | 139.6 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
2,016 | 6.3 |
2,017 | 25.5 |
2,018 | 26 |
2,019 | 26.4 |
2,020 | 26.7 |
2021 - 2025 | $ 139.6 |
Shareholder's Equity (Details)
Shareholder's Equity (Details) - USD ($) | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Class of Stock [Line Items] | |||
Common stock, shares authorized | 1,500 | 1,500 | |
Common stock, shares outstanding | 1 | 1 | |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |||
Class of Stock [Line Items] | |||
Common stock, shares authorized | 250,000,000 | 250,000,000 | |
Par value common shares (in USD per share) | $ 0.01 | $ 0.01 | |
Common stock, shares outstanding | 41,172,173 | 41,172,173 | |
PUCO merger equity ratio approval (at least) | 50.00% | ||
PUCO Equity Ratio | 39.00% | ||
PUCO merger, maximum long-term debt allowed | $ 750,000,000 | ||
PUCO merger, maximum long-term debt as percent of rate base (percent) | 75.00% | ||
Long-term Debt, Gross | $ 659,900,000 | ||
Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings | (19,000,000) | ||
Proceeds from Contributions from Parent | $ 70,000,000 | $ 0 |
Contractual Obligations, Comm56
Contractual Obligations, Commercial Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | |
Public Utility, Property, Plant and Equipment [Line Items] | |||
Due to third parties, current | $ 1.2 | $ 2.3 | |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Debt maturity, earliest | 2,019 | ||
Debt maturity, latest | 2,040 | ||
DPLE [Member] | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Third party guarantees | $ 38.6 | ||
Debt Obligation on 4.9% Equity Ownership [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Equity ownership interest | 4.90% | ||
Equity ownership interest aggregate cost | $ 71.3 | ||
Electric Generation Company [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Debt obligation | $ 1,455.5 |
Business Segments (Narrative) (
Business Segments (Narrative) (Details) - THE DAYTON POWER AND LIGHT COMPANY [Member] | 9 Months Ended |
Sep. 30, 2017mi²segmentcustomer | |
Segment Reporting Information [Line Items] | |
Number of Operating Segments | segment | 2 |
Approximate number of retail customers | customer | 520,000 |
Service area, square miles | mi² | 6,000 |
Business Segments (Segment Fina
Business Segments (Segment Financial Information) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | |||||
External customer revenues | $ 323.9 | $ 389.3 | $ 945.9 | $ 1,081.6 | |
Intersegment revenues | 0 | 0 | 0 | 0 | |
Total revenues | 323.9 | 389.3 | 945.9 | 1,081.6 | |
Depreciation and amortization | 27.3 | 30.9 | 81.8 | 100.3 | |
Fuel Costs | 57.3 | 78.9 | 165.4 | 206 | |
Depreciation and amortization | 81.8 | 100.3 | |||
Impairment of Long-Lived Assets Held-for-use | 0 | 0 | 66.4 | 235.5 | |
Interest expense | 27.2 | 27 | 81.5 | 79.3 | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 28 | 27.8 | (46.4) | (194.5) | |
Net income / (loss) from continuing operations | 21.9 | 15.1 | (29.3) | (119.5) | |
Discontinued operations, net of tax | 0 | 0 | 0 | 29.6 | |
Net income/ (loss) | 21.9 | 15.1 | (29.3) | (89.9) | |
Capital expenditures | 29.2 | 30.7 | 95.6 | 109.8 | |
Total assets | 2,174.3 | 2,174.3 | $ 2,419.2 | ||
Operating Segments [Member] | Transmission and Distribution [Member] | |||||
Segment Reporting Information [Line Items] | |||||
External customer revenues | 184 | 215.5 | 541.7 | 604.4 | |
Intersegment revenues | 0.2 | 0.3 | 0.8 | 1 | |
Total revenues | 184.2 | 215.8 | 542.5 | 605.4 | |
Depreciation and amortization | 19.6 | 17.8 | 56.3 | 55.1 | |
Impairment of Long-Lived Assets Held-for-use | 0 | 0 | |||
Interest expense | 7.7 | 6.5 | 22.9 | 17.5 | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 20 | 36.4 | 60.1 | 97.9 | |
Capital expenditures | 20.6 | 19.6 | 66.3 | 61.8 | |
Total assets | 1,655.3 | 1,655.3 | 1,710.5 | ||
Operating Segments [Member] | Generation [Member] | |||||
Segment Reporting Information [Line Items] | |||||
External customer revenues | 137.2 | 170.4 | 396.4 | 470 | |
Intersegment revenues | 0 | 0 | 0 | 0 | |
Total revenues | 137.2 | 170.4 | 396.4 | 470 | |
Depreciation and amortization | 4.7 | 7.7 | 16.6 | 44.6 | |
Impairment of Long-Lived Assets Held-for-use | 66.3 | 857.1 | |||
Interest expense | 0 | 0.1 | 0.2 | 0.3 | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 29.9 | 14.2 | (43.7) | (857.2) | |
Capital expenditures | 7.9 | 10.6 | 27.1 | 46.9 | |
Total assets | 333 | 333 | 472.3 | ||
Other [Member] | |||||
Segment Reporting Information [Line Items] | |||||
External customer revenues | 2.7 | 3.4 | 7.8 | 7.2 | |
Intersegment revenues | 0.9 | 2 | 3.6 | 4.2 | |
Total revenues | 3.6 | 5.4 | 11.4 | 11.4 | |
Depreciation and amortization | 3 | 5.4 | 8.9 | 0.6 | |
Impairment of Long-Lived Assets Held-for-use | 0.1 | (621.6) | |||
Interest expense | 19.5 | 20.5 | 58.4 | 61.7 | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | (21.9) | (22.8) | (62.8) | 564.8 | |
Capital expenditures | 0.7 | 0.5 | 2.2 | 1.1 | |
Total assets | 694.4 | 694.4 | 673.6 | ||
Adjustments and Eliminations [Member] | |||||
Segment Reporting Information [Line Items] | |||||
External customer revenues | 0 | 0 | 0 | 0 | |
Intersegment revenues | (1.1) | (2.3) | (4.4) | (5.2) | |
Total revenues | (1.1) | (2.3) | (4.4) | (5.2) | |
Depreciation and amortization | 0 | 0 | 0 | 0 | |
Impairment of Long-Lived Assets Held-for-use | 0 | 0 | |||
Interest expense | 0 | (0.1) | 0 | (0.2) | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 0 | 0 | 0 | 0 | |
Capital expenditures | 0 | 0 | 0 | 0 | |
Total assets | (508.4) | (508.4) | (437.2) | ||
Subsidiaries [Member] | |||||
Segment Reporting Information [Line Items] | |||||
External customer revenues | 305.6 | 368.4 | 900.8 | 1,031.3 | |
Intersegment revenues | 0 | 0 | 0 | 0 | |
Total revenues | 305.6 | 368.4 | 900.8 | 1,031.3 | |
Depreciation and amortization | 22.7 | 24.1 | 68.2 | 95.2 | |
Fuel Costs | 52.8 | 71 | 152.8 | 189.5 | |
Depreciation and amortization | 68.2 | 95.2 | |||
Impairment of Long-Lived Assets Held-for-use | 0 | 0 | 66.3 | 857.1 | |
Interest expense | 7.7 | 6.5 | 23.1 | 17.2 | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 41.2 | 49.8 | 3.8 | (739.4) | |
Net income/ (loss) | 29.3 | 30.1 | 3.6 | (467.8) | |
Capital expenditures | 24.8 | 26.5 | 82.4 | 98.3 | |
Total assets | 1,833.3 | 1,833.3 | 2,035.1 | ||
Subsidiaries [Member] | Operating Segments [Member] | Transmission and Distribution [Member] | |||||
Segment Reporting Information [Line Items] | |||||
External customer revenues | 184.2 | 215.8 | 542.5 | 605.4 | |
Intersegment revenues | 0 | 0 | 0 | 0 | |
Total revenues | 184.2 | 215.8 | 542.5 | 605.4 | |
Depreciation and amortization | 19.6 | 17.8 | 56.3 | 55.1 | |
Impairment of Long-Lived Assets Held-for-use | 0 | 0 | |||
Interest expense | 7.7 | 6.4 | 22.9 | 16.9 | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 20 | 36.5 | 60.1 | 98.5 | |
Capital expenditures | 20.6 | 19.6 | 66.3 | 61.8 | |
Total assets | 1,655.3 | 1,655.3 | 1,710.5 | ||
Subsidiaries [Member] | Operating Segments [Member] | Generation [Member] | |||||
Segment Reporting Information [Line Items] | |||||
External customer revenues | 121.4 | 152.6 | 358.3 | 425.9 | |
Intersegment revenues | 0 | 0 | 0 | 0 | |
Total revenues | 121.4 | 152.6 | 358.3 | 425.9 | |
Depreciation and amortization | 3.1 | 6.3 | 11.9 | 40.1 | |
Impairment of Long-Lived Assets Held-for-use | 66.3 | 857.1 | |||
Interest expense | 0 | 0.1 | 0.2 | 0.3 | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 21.2 | 13.3 | (56.3) | (837.9) | |
Capital expenditures | 4.2 | 6.9 | 16.1 | 36.5 | |
Total assets | 178 | 178 | 324.6 | ||
Subsidiaries [Member] | Adjustments and Eliminations [Member] | |||||
Segment Reporting Information [Line Items] | |||||
External customer revenues | 0 | 0 | 0 | 0 | |
Intersegment revenues | 0 | 0 | 0 | 0 | |
Total revenues | 0 | 0 | 0 | 0 | |
Depreciation and amortization | 0 | 0 | 0 | 0 | |
Impairment of Long-Lived Assets Held-for-use | 0 | 0 | |||
Interest expense | 0 | 0 | 0 | 0 | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 0 | 0 | 0 | 0 | |
Capital expenditures | 0 | $ 0 | 0 | $ 0 | |
Total assets | $ 0 | $ 0 | $ 0 |
Discontinued Operations (Detail
Discontinued Operations (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Operating expenses | $ (0.7) | |||
Loss from discontinued operations before income taxes | $ 0 | $ 0 | $ 0 | (0.7) |
Gain from disposal of discontinued operations | 0 | 0 | 0 | 49.2 |
Income tax expense for discontinued operations | 0 | 0 | 0 | 18.9 |
Net income from discontinued operations | $ 0 | $ 0 | $ 0 | 29.6 |
Cash flows from operating activities for discontinued operations | (0.7) | |||
Cash flows from investing activities for discontinued operations | $ 75.5 |
Held for Sale (Details)
Held for Sale (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | $ 28 | $ 27.8 | $ (46.4) | $ (194.5) |
Miami Fort and Zimmer [Member] | ||||
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | (11.2) | (11.2) | ||
Disposal Group, Including Discontinued Operation, Inventory | 22.7 | 22.7 | ||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 11 | 1.4 | 18.9 | (9.8) |
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment | 44.8 | 44.8 | ||
Disposal Group, Including Discontinued Operation, Other Assets, Current | 0.7 | 0.7 | ||
Disposal Group, Including Discontinued Operation, Assets | 57 | 57 | ||
Disposal Group, Including Discontinued Operation, Accounts Payable | 0.7 | 0.7 | ||
Disposal Group, Including Discontinued Operation, Accrued Income Tax Payable | 2.6 | 2.6 | ||
Asset Retirement Obligation, Held for Sale | 4.4 | 4.4 | ||
Disposal Group, Including Discontinued Operation, Other Liabilities | (0.7) | (0.7) | ||
Disposal Group, Including Discontinued Operation, Liabilities | 7 | 7 | ||
Subsidiaries [Member] | ||||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 41.2 | 49.8 | 3.8 | (739.4) |
Subsidiaries [Member] | Miami Fort and Zimmer [Member] | ||||
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | (11.2) | (11.2) | ||
Disposal Group, Including Discontinued Operation, Inventory | 22.7 | 22.7 | ||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 11 | $ 1.9 | 18.9 | $ (333.5) |
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment | 44.8 | 44.8 | ||
Disposal Group, Including Discontinued Operation, Other Assets, Current | 0.7 | 0.7 | ||
Disposal Group, Including Discontinued Operation, Assets | 57 | 57 | ||
Disposal Group, Including Discontinued Operation, Accounts Payable | 0.7 | 0.7 | ||
Disposal Group, Including Discontinued Operation, Accrued Income Tax Payable | 2.6 | 2.6 | ||
Asset Retirement Obligation, Held for Sale | 3.4 | 3.4 | ||
Disposal Group, Including Discontinued Operation, Other Liabilities | (0.7) | (0.7) | ||
Disposal Group, Including Discontinued Operation, Liabilities | $ 6 | $ 6 |
Fixed-asset Impairment Fixed-as
Fixed-asset Impairment Fixed-asset Impairment (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Impairment of Long-Lived Assets Held-for-use | $ 0 | $ 0 | $ 66.4 | $ 235.5 |
Stuart [Member] | ||||
Impairment of Long-Lived Assets Held-for-use | 39.1 | |||
Impaired Assets to be Disposed of by Method Other than Sale, Amount of Impairment Loss | 9.8 | |||
Killen [Member] | ||||
Impairment of Long-Lived Assets Held-for-use | 27.3 | 230.8 | ||
Impaired Assets to be Disposed of by Method Other than Sale, Amount of Impairment Loss | 6.4 | |||
Peaking Generating Facilities [Member] | ||||
Impairment of Long-Lived Assets Held-for-use | 4.7 | |||
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
Impairment of Long-Lived Assets Held-for-use | 0 | 0 | 66.3 | 857.1 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | Stuart [Member] | ||||
Impairment of Long-Lived Assets Held-for-use | 39 | 292 | ||
Impaired Assets to be Disposed of by Method Other than Sale, Amount of Impairment Loss | 9.8 | |||
THE DAYTON POWER AND LIGHT COMPANY [Member] | Killen [Member] | ||||
Impairment of Long-Lived Assets Held-for-use | 27.3 | 246.2 | ||
Impaired Assets to be Disposed of by Method Other than Sale, Amount of Impairment Loss | 6.4 | |||
THE DAYTON POWER AND LIGHT COMPANY [Member] | Zimmer [Member] | ||||
Impairment of Long-Lived Assets Held-for-use | 318.9 | |||
Level 3 [Member] | Stuart [Member] | ||||
Property, Plant, and Equipment, Fair Value Disclosure | 3.3 | 3.3 | ||
Level 3 [Member] | Killen [Member] | ||||
Property, Plant, and Equipment, Fair Value Disclosure | 7.9 | 84.3 | 7.9 | 84.3 |
Level 3 [Member] | Peaking Generating Facilities [Member] | ||||
Property, Plant, and Equipment, Fair Value Disclosure | 5.2 | 5.2 | ||
Level 3 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Stuart [Member] | ||||
Property, Plant, and Equipment, Fair Value Disclosure | 3.3 | 164.4 | 3.3 | 164.4 |
Level 3 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Killen [Member] | ||||
Property, Plant, and Equipment, Fair Value Disclosure | $ 7.9 | 84.3 | $ 7.9 | 84.3 |
Level 3 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Zimmer [Member] | ||||
Property, Plant, and Equipment, Fair Value Disclosure | $ 111 | $ 111 |