Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 05, 2018 | |
Entity Registrant Name | DPL INC | |
Entity Central Index Key | 787,250 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
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 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
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 Emerging Growth Company | false | |
Entity Small Business | false |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Revenues | $ 207.7 | $ 191.7 | $ 591.5 | $ 561.7 |
Cost of revenues: | ||||
Net fuel cost | 4.6 | 3.3 | 12.7 | 7.6 |
Cost of Goods and Services Sold | 88.2 | 78 | 251.6 | 230.4 |
Gross margin | 119.5 | 113.7 | 339.9 | 331.3 |
Operating expenses: | ||||
Operation and maintenance | 37.3 | 47.7 | 118.3 | 144.1 |
Depreciation and amortization | 19.7 | 19.8 | 58.8 | 56.9 |
General taxes | 19 | 19.3 | 54.5 | 58.5 |
Other, net (Note 2): | (0.6) | 15.9 | ||
Other Operating Income (Expense), Net | (1.6) | 0.4 | (14.6) | 0.4 |
Gain (Loss) on Disposition of Business | (13.2) | 0 | ||
Total operating expenses | 77.6 | 86.4 | 246.2 | 259.1 |
Operating income | 41.9 | 27.3 | 93.7 | 72.2 |
Other income / (expense), net | ||||
Interest expense | (22.6) | (27.8) | (74.4) | (82.7) |
Charge for early redemption of debt | 0 | (3) | (6.4) | (3.3) |
Other income | 0.5 | 0.8 | 0.8 | 1 |
Total other expense, net | (22.1) | (30) | (80) | (85) |
Income / (loss) from continuing operations before income tax | 19.8 | (2.7) | 13.7 | (12.8) |
Income tax expense / (benefit) from continuing operations | 3.1 | (1.7) | 1.5 | (5) |
Net income / (loss) from continuing operations | 16.7 | (1) | 12.2 | (7.8) |
Income / (loss) from discontinued operations before income tax | 5 | 30.8 | 36.7 | (33.6) |
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | 0.3 | 0 | (1.6) | 0 |
Income tax expense / (benefit) from discontinued operations | 1 | 7.9 | 5.9 | (12.1) |
Net income / (loss) from discontinued operations | 4.3 | 22.9 | 29.2 | (21.5) |
Net income / (loss) | 21 | 21.9 | 41.4 | (29.3) |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
Revenues | 198.7 | 184.2 | 563.5 | 542.5 |
Cost of revenues: | ||||
Net fuel cost | 0.1 | 0 | 1.7 | 0 |
Cost of Goods and Services Sold | 83.1 | 74.4 | 237.4 | 222 |
Gross margin | 115.6 | 109.8 | 326.1 | 320.5 |
Operating expenses: | ||||
Operation and maintenance | 33.8 | 42.1 | 105.9 | 120.2 |
Depreciation and amortization | 19.1 | 19.6 | 56.5 | 56.3 |
General taxes | 19 | 19.3 | 54.3 | 57.8 |
Gain (Loss) on Sale of Assets and Asset Impairment Charges, excluding Discontinued Operations | 0 | 0.3 | (0.1) | 0.3 |
Other, net (Note 2): | 0 | 15.9 | ||
Gain (Loss) on Disposition of Business | 0 | 0 | (12.4) | 0 |
Total operating expenses | 71.9 | 80.7 | 229.2 | 234 |
Operating income | 43.7 | 29.1 | 96.9 | 86.5 |
Other income / (expense), net | ||||
Interest expense | (5.8) | (7.9) | (20.5) | (23.5) |
Charge for early redemption of debt | 0 | (1) | (0.6) | (1.1) |
Other income | (0.4) | (0.2) | (1.9) | (1.8) |
Total other expense, net | (6.2) | (9.1) | (23) | (26.4) |
Income / (loss) from continuing operations before income tax | 37.5 | 20 | 73.9 | 60.1 |
Income tax expense / (benefit) from continuing operations | 6.3 | (0.9) | 12 | 10.9 |
Net income / (loss) from continuing operations | 31.2 | 20.9 | 61.9 | 49.2 |
Income / (loss) from discontinued operations before income tax | 0 | 21.2 | 0 | (56.3) |
Income tax expense / (benefit) from discontinued operations | 0 | 12.8 | 0 | (10.7) |
Net income / (loss) from discontinued operations | 0 | 8.4 | 0 | (45.6) |
Net income / (loss) | 31.2 | 29.3 | 61.9 | 3.6 |
Electricity, Purchased [Member] | ||||
Cost of revenues: | ||||
Cost of Goods and Services Sold | 83.6 | 74.7 | 238.9 | 222.8 |
Electricity, Purchased [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
Cost of revenues: | ||||
Cost of Goods and Services Sold | $ 83 | $ 74.4 | $ 235.7 | $ 222 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Net income | $ 21 | $ 21.9 | $ 41.4 | $ (29.3) |
Equity securities activity: | ||||
AOCI reclassed to Retained Earnings, net of tax | 0 | 0 | (1) | 0 |
Total change in fair value of available-for-sale securities | 0 | 0.1 | (1) | 0.3 |
Derivative activity: | ||||
Change in derivative fair value, net of income tax | 0.1 | 1.4 | 0.4 | 12.1 |
Reclassification of earnings, net of income tax | (0.2) | (0.1) | (0.6) | (0.5) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives Related to Discontinued Operations, Net of Tax | 0 | (2.3) | 2.8 | (5.5) |
Total change in fair value of derivatives | (0.1) | (1) | 2.6 | 6.1 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax | 0 | 0 | 0 | (0.3) |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax | 0 | 0 | 0 | (1.2) |
Pension and postretirement activity: | ||||
Reclassification to earnings, net of income tax | 0.1 | 0 | 0.4 | 0.9 |
Total change in unfunded pension obligation | 0.1 | 0 | 0.4 | (0.6) |
Other comprehensive income / (loss) | 0 | (0.9) | 2 | 5.8 |
Net comprehensive income / (loss) | 21 | 21 | 43.4 | (23.5) |
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax | 0 | 0.1 | 0 | 0.4 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 0 | 0 | 0 | 0.1 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
Net income | 31.2 | 29.3 | 61.9 | 3.6 |
Equity securities activity: | ||||
AOCI reclassed to Retained Earnings, net of tax | 0 | 0 | (1.1) | 0 |
Total change in fair value of available-for-sale securities | 0 | 0.1 | (1.1) | 0.3 |
Derivative activity: | ||||
Change in derivative fair value, net of income tax | 0 | 1.4 | 0.5 | 12.1 |
Reclassification of earnings, net of income tax | (0.2) | (0.2) | (0.5) | (0.5) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives Related to Discontinued Operations, Net of Tax | 0 | (2.2) | 0 | (5.5) |
Total change in fair value of derivatives | (0.2) | (1) | 0 | 6.1 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax | 0 | 0 | 0 | (1.1) |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax | 0 | 0 | 0 | (0.5) |
Pension and postretirement activity: | ||||
Reclassification to earnings, net of income tax | 0.9 | 0.7 | 2.5 | 3.8 |
Total change in unfunded pension obligation | 0.9 | 0.7 | 2.5 | 2.2 |
Other comprehensive income / (loss) | 0.7 | (0.2) | 1.4 | 8.6 |
Net comprehensive income / (loss) | 31.9 | 29.1 | 63.3 | 12.2 |
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax | 0 | 0.1 | 0 | 0.4 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | $ 0 | $ 0 | 0 | $ 0.1 |
Gains / (losses) on available-for-sale securities [Member] | ||||
Equity securities activity: | ||||
AOCI reclassed to Retained Earnings, net of tax | (1) | |||
Pension and postretirement activity: | ||||
Other comprehensive income / (loss) | (1) | |||
Gains / (losses) on available-for-sale securities [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
Equity securities activity: | ||||
AOCI reclassed to Retained Earnings, net of tax | (1.1) | |||
Pension and postretirement activity: | ||||
Other comprehensive income / (loss) | $ (1.1) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Income tax (expense)/benefit on unrealized gains (losses) related to available-for-sale securities | $ 0 | $ (0.1) | $ 0 | $ (0.2) |
Income tax (expense) benefit on reclassification to earnings | 0 | 0 | 0 | 0 |
AOCI reclassed to Retained Earnings, income tax | 0 | 0 | 0.6 | 0 |
Income tax (expense)/benefit on unrealized gains (losses) related to derivative activity | 0 | (0.8) | (0.2) | (6.6) |
Income tax (expense)/benefit on reclassification of earnings related to derivative activity | 0.1 | 0.1 | 0.3 | 0.3 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives Related to Discontinued Operations, Tax | 0 | 1.2 | (1.5) | 3 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, Tax | 0 | 0 | 0 | 0.2 |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, Tax | 0 | 0 | 0 | 0.7 |
Income tax (expense)/benefit on reclassification of earnings related to pension and postretirement activity | (0.1) | 0 | (0.1) | (0.5) |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
Income tax (expense)/benefit on unrealized gains (losses) related to available-for-sale securities | 0 | (0.1) | 0 | (0.2) |
Income tax (expense) benefit on reclassification to earnings | 0 | 0 | 0 | 0 |
AOCI reclassed to Retained Earnings, income tax | 0 | 0 | 0.6 | 0 |
Income tax (expense)/benefit on unrealized gains (losses) related to derivative activity | (0.1) | (0.8) | (0.1) | (6.6) |
Income tax (expense)/benefit on reclassification of earnings related to derivative activity | 0.1 | 0.1 | 0.6 | 0.3 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives Related to Discontinued Operations, Tax | 0 | 1.3 | 0 | 3 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, Tax | 0 | 0 | 0 | 0.6 |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, Tax | 0 | 0 | 0 | 0.2 |
Income tax (expense)/benefit on reclassification of earnings related to pension and postretirement activity | $ (0.2) | $ (0.4) | $ (0.7) | $ (2.1) |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Current assets: | |||||
Cash and cash equivalents | $ 65.4 | $ 65.4 | $ 24.5 | ||
Restricted cash | 22 | 22 | 0.4 | ||
Accounts receivable, net | 95.5 | 95.5 | 64.6 | ||
Inventories | 10.7 | 10.7 | 12.7 | ||
Taxes applicable to subsequent years | 17.1 | 17.1 | 71.3 | ||
Regulatory assets, current | 34 | 34 | 23.9 | ||
Other prepayments and current assets | 11.5 | 11.5 | 12.6 | ||
Assets Held-for-sale, Not Part of Disposal Group, Current | 9.5 | 9.5 | 315.6 | ||
Total current assets | 265.7 | 265.7 | 525.6 | ||
Property, plant & equipment: | |||||
Property, plant & equipment | 1,586.5 | 1,586.5 | 1,542.4 | ||
Less: Accumulated depreciation and amortization | (297.1) | (297.1) | (269.1) | ||
Property, plant and equipment, net of depreciation | 1,289.4 | 1,289.4 | 1,273.3 | ||
Construction work in process | 31.3 | 31.3 | 46.5 | ||
Total net property, plant & equipment | 1,320.7 | 1,320.7 | 1,319.8 | ||
Other non-current assets: | |||||
Regulatory assets, non-current | 150.6 | 150.6 | 163.2 | ||
Intangible assets, net of amortization | 16.6 | 16.6 | 18.8 | ||
Other deferred assets | 23.9 | 23.9 | 13.8 | ||
Disposal Group, Including Discontinued Operation, Assets, Noncurrent | 8 | 8 | 8 | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | (0.2) | $ (0.1) | (0.6) | $ (0.5) | |
Total other non-current assets | 199.1 | 199.1 | 203.8 | ||
Total assets | 1,785.5 | 1,785.5 | 2,049.2 | ||
Current liabilities: | |||||
Current portion of long-term debt | 4.6 | 4.6 | 4.6 | ||
Short-term debt | 0 | 0 | 10 | ||
Accounts payable | 46.9 | 46.9 | 48.9 | ||
Accrued taxes | 74.9 | 74.9 | 77.3 | ||
Accrued interest | 30.1 | 30.1 | 16.4 | ||
Security deposits | 20.5 | 20.5 | 21.8 | ||
Regulatory liabilities, current | 36.1 | 36.1 | 14.8 | ||
Other current liabilities | 14 | 14 | 16.2 | ||
Liabilities Held for Sale, Current | 19.9 | 19.9 | 66.9 | ||
Total current liabilities | 247 | 247 | 276.9 | ||
Non-current liabilities: | |||||
Long-term debt | 1,471.4 | 1,471.4 | 1,700.2 | ||
Deferred taxes | 110.6 | 110.6 | 128.6 | ||
Taxes payable | 3.5 | 3.5 | 74.8 | ||
Regulatory liabilities, non-current | 239.7 | 239.7 | 221.2 | ||
Pension, retiree and other benefits | 82.7 | 82.7 | 90.3 | ||
Asset Retirement Obligations, Noncurrent | 13.5 | 132.5 | 13.5 | 132.5 | 15.1 |
Other deferred credits | 8 | 8 | 8.5 | ||
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent | 118.6 | 118.6 | 117.9 | ||
Total non-current liabilities | 2,048 | 2,048 | 2,356.6 | ||
Commitments and contingencies | |||||
Common shareholder's equity: | |||||
Common stock | 0 | 0 | 0 | ||
Other paid-in capital | 2,360.8 | 2,360.8 | 2,330.4 | ||
Accumulated other comprehensive income | 2.8 | 2.8 | 0.8 | ||
Retained earnings/ (deficit) | (2,873.1) | (2,873.1) | (2,915.5) | ||
Total common shareholder's equity | (509.5) | (509.5) | (584.3) | ||
Total liabilities and shareholder's equity | 1,785.5 | 1,785.5 | 2,049.2 | ||
THE DAYTON POWER AND LIGHT COMPANY [Member] | |||||
Current assets: | |||||
Cash and cash equivalents | 10.7 | 10.7 | 5.2 | ||
Restricted cash | 2 | 2 | 0.4 | ||
Accounts receivable, net | 103 | 103 | 70.8 | ||
Inventories | 7.5 | 7.5 | 7.3 | ||
Taxes applicable to subsequent years | 17.1 | 17.1 | 71.1 | ||
Regulatory assets, current | 34 | 34 | 23.9 | ||
Other prepayments and current assets | 11.7 | 11.7 | 14.6 | ||
Total current assets | 186 | 186 | 193.3 | ||
Property, plant & equipment: | |||||
Property, plant & equipment | 2,253.8 | 2,253.8 | 2,247.2 | ||
Less: Accumulated depreciation and amortization | (980.3) | (980.3) | (987.3) | ||
Property, plant and equipment, net of depreciation | 1,273.5 | 1,273.5 | 1,259.9 | ||
Construction work in process | 29.8 | 29.8 | 41.5 | ||
Total net property, plant & equipment | 1,303.3 | 1,303.3 | 1,301.4 | ||
Other non-current assets: | |||||
Regulatory assets, non-current | 150.6 | 150.6 | 163.2 | ||
Intangible assets, net of amortization | 15.4 | 15.4 | 18.8 | ||
Other deferred assets | 23.1 | 23.1 | 12.7 | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | (0.2) | (0.2) | (0.5) | (0.5) | |
Total other non-current assets | 189.1 | 189.1 | 194.7 | ||
Total assets | 1,678.4 | 1,678.4 | 1,689.4 | ||
Current liabilities: | |||||
Current portion of long-term debt | 4.6 | 4.6 | 4.6 | ||
Short-term debt | 0 | 0 | 10 | ||
Accounts payable | 44.1 | 44.1 | 46.6 | ||
Accrued taxes | 82.5 | 82.5 | 70.1 | ||
Accrued interest | 0.7 | 0.7 | 0.8 | ||
Security deposits | 20.5 | 20.5 | 21.8 | ||
Regulatory liabilities, current | 36.1 | 36.1 | 14.8 | ||
Other current liabilities | 11.2 | 11.2 | 12.9 | ||
Total current liabilities | 199.7 | 199.7 | 181.6 | ||
Non-current liabilities: | |||||
Long-term debt | 582.1 | 582.1 | 642 | ||
Deferred taxes | 125.3 | 125.3 | 131 | ||
Taxes payable | 4.8 | 4.8 | 75.8 | ||
Regulatory liabilities, non-current | 239.7 | 239.7 | 221.2 | ||
Pension, retiree and other benefits | 83.5 | 83.5 | 91.1 | ||
Asset Retirement Obligation | 4.7 | $ 131 | 4.7 | $ 131 | 8 |
Other deferred credits | 7.6 | 7.6 | 8 | ||
Total non-current liabilities | 1,047.7 | 1,047.7 | 1,177.1 | ||
Commitments and contingencies | |||||
Common shareholder's equity: | |||||
Common stock | 0.4 | 0.4 | 0.4 | ||
Other paid-in capital | 721.8 | 721.8 | 685.8 | ||
Accumulated other comprehensive income | (34.8) | (34.8) | (36.2) | ||
Retained earnings/ (deficit) | (256.4) | (256.4) | (319.3) | ||
Total common shareholder's equity | 431 | 431 | 330.7 | ||
Total liabilities and shareholder's equity | $ 1,678.4 | $ 1,678.4 | $ 1,689.4 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2018 | Dec. 31, 2017 |
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 Statem_4
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash flows from operating activities: | ||
Net income | $ 41.4 | $ (29.3) |
Adjustments to reconcile net income / (loss) to net cash from operating activities: | ||
Depreciation and amortization | 62.4 | 81.8 |
Charge for early retirement of debt | 6.4 | 3.3 |
Deferred income taxes | (17.8) | (3.5) |
Impairment of Long-Lived Assets Held-for-use | 2.8 | 66.4 |
Gain (Loss) on Disposition of Business | (13.2) | 0 |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | (0.6) | 15.9 |
Changes in certain assets and liabilities: | ||
Accounts receivable, net | 34.4 | 15.8 |
Inventories | 14.7 | 9.5 |
Taxes applicable to subsequent years | 57.7 | 61.4 |
Deferred regulatory costs, net | (4.1) | (6.5) |
Accounts payable | (17.4) | (46.4) |
Accrued taxes | (47.1) | (93.5) |
Accrued interest | 13.4 | 8.8 |
Increase (Decrease) in Security Deposits | (1.3) | 1.1 |
Increase (Decrease) in Obligation, Pension and Other Postretirement Benefits | (4) | 3.8 |
Other | (1.2) | (6.9) |
Net cash provided by operating activities | 152.9 | 81.7 |
Cash flows from investing activities: | ||
Capital expenditures | (75.8) | (95.6) |
Proceeds from disposal and sale of business | 234.9 | 0 |
Payments for Removal Costs | (14.5) | 0 |
Proceeds from Sale of Property, Plant, and Equipment | 10.6 | 0 |
Insurance proceeds | 2.8 | 12.6 |
Other investing activities, net | (0.5) | 0.2 |
Net cash provided by / (used in) investing activities | 157.5 | (82.8) |
Cash flows from financing activities: | ||
Repayments of Lines of Credit | (40) | (15) |
Proceeds from Lines of Credit | 30 | 80 |
Repayment of long-term debt | (239.4) | (122.1) |
Net cash used in financing activities | (249.4) | (57.1) |
Net Cash Provided by (Used in) Discontinued Operations | 1.5 | 27 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect | 62.5 | (31.2) |
Other deferred credits | 8 | |
Supplemental cash flow information: | ||
Interest paid, net of amounts capitalized | 55.2 | 69 |
Proceeds from Income Tax Refunds | (2) | 0 |
Non-cash financing and investing activities: | ||
Accruals for capital expenditures | 7.6 | 9.2 |
Restricted Cash and Cash Equivalents | 87.4 | 23.4 |
Non-cash Proceeds from Sale of Business | 4.1 | 0 |
Non-cash capital contribution | 30.2 | 0 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Cash flows from operating activities: | ||
Net income | 61.9 | 3.6 |
Adjustments to reconcile net income / (loss) to net cash from operating activities: | ||
Depreciation and amortization | 56.5 | 68.2 |
Charge for early retirement of debt | 0.6 | 1.1 |
Deferred income taxes | (7.5) | 1.6 |
Impairment of Long-Lived Assets Held-for-use | 0 | 66.3 |
Gain (Loss) on Disposition of Business | (12.4) | 0 |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | 0 | 15.9 |
Changes in certain assets and liabilities: | ||
Accounts receivable, net | (3.3) | 20.5 |
Inventories | (0.2) | 10 |
Taxes applicable to subsequent years | 54 | 60 |
Deferred regulatory costs, net | (4.1) | (6.5) |
Accounts payable | (1.1) | (58.4) |
Accrued taxes | (58.7) | (83.9) |
Accrued interest | (0.3) | (1.5) |
Increase (Decrease) in Security Deposits | (1.3) | 1.1 |
Increase (Decrease) in Obligation, Pension and Other Postretirement Benefits | (3.1) | 3.8 |
Other | 7.4 | (3.1) |
Net cash provided by operating activities | 113.2 | 98.7 |
Cash flows from investing activities: | ||
Capital expenditures | (65) | (82.4) |
Payments for Removal Costs | (14.5) | 0 |
Proceeds from Sale of Property, Plant, and Equipment | 10.6 | 0 |
Insurance proceeds | 0.1 | 12.5 |
Other investing activities, net | (0.2) | 0.2 |
Net cash provided by / (used in) investing activities | (69) | (69.7) |
Cash flows from financing activities: | ||
Repayments of Lines of Credit | (40) | (15) |
Proceeds from Lines of Credit | 30 | 30 |
Repayment of long-term debt | (63.3) | (103.3) |
Payments of Ordinary Dividends, Common Stock | (43.8) | (19) |
Repayment of short-term debt - related party | 0 | 30 |
Repayments of Related Party Debt | 0 | (35) |
Proceeds from Contributions from Parent | 80 | 70 |
Net cash used in financing activities | (37.1) | (42.3) |
Net Cash Provided by (Used in) Discontinued Operations | 0 | 27 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect | 7.1 | 13.7 |
Other deferred credits | 7.6 | |
Supplemental cash flow information: | ||
Interest paid, net of amounts capitalized | 17 | 22.3 |
Income Taxes Paid, Net | 8.3 | 22.2 |
Non-cash financing and investing activities: | ||
Accruals for capital expenditures | 7.2 | 7.7 |
Restricted Cash and Cash Equivalents | $ 12.7 | $ 15.3 |
Overview and Summary of Signifi
Overview and Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
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 one reportable segment: the Utility segment. See Note 12 – Business Segments for more information relating to this reportable segment. 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 , a wholly-owned subsidiary of DPL , 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 524,000 customers located in West Central Ohio. Additionally, DP&L provides retail SSO electric service to residential, commercial, industrial and governmental customers in a 6,000 - square mile area of West Central Ohio. Through September 30, 2017, DP&L owned undivided interests in multiple coal-fired and peaking electric generating facilities as well as numerous transmission facilities. On 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. 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. Through September 30, 2017, DP&L sold its generated energy and capacity into the wholesale market. After September 30, 2017, DP&L continues to sell its proportional share of energy and capacity from its investment in OVEC. DPL’s other significant subsidiaries include MVIC and AES Ohio Generation. MVIC is our captive insurance company that provides insurance services to DPL and our other subsidiaries. AES Ohio Generation owns an undivided interest in Conesville. AES Ohio Generation sells all of its energy and capacity into the wholesale market. DPL's subsidiaries are all wholly-owned. 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 674 people as of September 30, 2018 , of which 648 were employed by DP&L. Approximately 53% of all DPL employees are under a collective bargaining agreement, which expires October 31, 2020 . 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, 2018 , DPL has an undivided ownership interest in one coal-fired generating facility, which is included in the financial statements at the lower of depreciated historical cost or fair value, if impaired. Operating revenues and expenses of this facility 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, 2017 . 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, 2018 ; our results of operations for the three and nine months ended September 30, 2018 and 2017 and our cash flows for the nine months ended September 30, 2018 and 2017 . Unless otherwise noted, all adjustments are normal and recurring in nature. Due to various factors, interim results for the three and nine months ended September 30, 2018 may not be indicative of our results that will be realized for the full year ending December 31, 2018 . 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: recognition of revenue including unbilled revenues, the carrying value of property, plant and equipment; 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. Cash, Cash Equivalents, and Restricted Cash The following table provides a summary of cash, cash equivalents, and restricted cash amounts reported on the Condensed Consolidated Balance Sheet that reconcile to the total of such amounts as shown on the Condensed Consolidated Statements of Cash Flows: $ in millions September 30, 2018 December 31, 2017 Cash and cash equivalents $ 65.4 $ 24.5 Restricted cash 22.0 0.4 Cash, Cash Equivalents, and Restricted Cash, End of Period $ 87.4 $ 24.9 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, 2018 and 2017 were $13.8 million and $13.0 million, respectively. The amounts of such taxes collected for the nine months ended September 30, 2018 and 2017 were $39.2 million and $36.9 million, respectively. New accounting pronouncements adopted in 2018 – The following table provides a brief description of recently adopted accounting pronouncements that had an impact on our consolidated financial statements. Accounting pronouncements not listed below were assessed and determined to be either not applicable or did not have a material impact on our consolidated financial statements. ASU Number and Name Description Date of Adoption Effect on the financial statements upon adoption 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 costs associated with defined benefit plans and updates the guidance so that only the service cost component will be eligible for capitalization. January 1, 2018 The adoption of this standard resulted in a $(1.6 ) million reclassification of non-service pension and other postretirement benefit costs (credits) from Operating expense to Other income / (expense) - net for the nine months ended September 30, 2017. 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 The adoption of this standard resulted in a $27.0 million decrease in investing activities for the nine months ended September 30, 2017. 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities The standard significantly revises an entity’s accounting related to (1) classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. It also amends certain disclosures of financial instruments. January 1, 2018 We adopted this standard January 1, 2018. At that date, we transferred $1.6 million ($1.0 million net of tax) of unrealized gains from AOCI to Retained Earnings. 2014-09, 2015-14, 2016-08, 2016-10, 2016-12, 2016-20, 2017-05, 2017-13 Revenue from Contracts with Customers (Topic 606) See " Adoption of FASC Topic 606, Revenue from Contracts with Customers " below. January 1, 2018 See impact upon adoption of the standard below. Adoption of FASC Topic 606, "Revenue from Contracts with Customers" On January 1, 2018, we adopted ASU 2014-09, "Revenue from Contracts with Customers", and its subsequent corresponding updates ("FASC 606"). The core principle of this standard 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. We applied the modified retrospective method of adoption to those contracts which were not completed as of January 1, 2018. Results for reporting periods beginning January 1, 2018 are presented under FASC 606, while prior period amounts were not adjusted and continue to be reported in accordance with our historic accounting under the previous revenue recognition standard, FASC 605. For contracts that were modified before January 1, 2018, we have not retrospectively restated the contracts for modifications. We instead reflected the aggregate effect of all modifications when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price. We do not expect the adoption of the new revenue standard to have a material impact to our net income on an ongoing basis. There was no cumulative effect to our January 1, 2018 Condensed Consolidated Balance Sheet resulting from the adoption of FASC 606. See additional disclosures under FASC 606 in Note 13 – Revenue . New Accounting Pronouncements Issued But Not Yet Effective – The following table provides a brief description of recent accounting pronouncements that could have a material impact on our consolidated financial statements. Accounting pronouncements not listed below were assessed and determined to be either not applicable or are expected to have no material impact on our consolidated financial statements. ASU Number and Name Description Date of Adoption Effect on the financial statements upon adoption 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract This standard aligns the accounting for implementation costs incurred for a cloud computing arrangement that is a service with the requirement for capitalizing implementation costs associated with developing or obtaining internal-use software. January 1, 2020. Early adoption is permitted. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2018-02, Income Statement — Reporting Comprehensive Income (Topic 220), Reclassification of Certain Tax Effects from AOCI This amendment allows a reclassification of the stranded tax effects resulting from the implementation of the Tax Cuts and Jobs Act from AOCI to retained earnings. Because this amendment only relates to the reclassification of the income tax effects of the Tax Cuts and Jobs Act, the underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. January 1, 2019. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2017-12, Derivatives and Hedging (Topic 815): Targeted improvements to Accounting for Hedging Activities The standard updates the hedge accounting model to expand the ability to hedge nonfinancial and financial risk components, reduce complexity, and ease certain documentation and assessment requirements. When facts and circumstances are the same as at the previous quantitative test, a subsequent quantitative effectiveness test is not required. The standard also eliminates the requirement to separately measure and report hedge ineffectiveness. For cash flow hedges, this means that the entire change in the fair value of a hedging instrument will be recorded in other comprehensive income and amounts deferred will be reclassified to earnings 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 consolidated financial statements. 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 for 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. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The standard updates the impairment model for financial assets measured at amortized cost. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking "expected loss" model that generally will result in the earlier recognition of allowance for losses. For available-for-sale debt securities with unrealized losses, entities will measure credit losses as it is done today, except that the losses will be recognized as an allowance rather than a reduction in the amortized cost of the securities. January 1, 2020. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2016-02, 2018-01, 2018-10, 2018-11 Leases (Topic 842) See " 2016-02, 2018-01, 2018-10, 2018-11, Leases (Topic 842) " below. January 1, 2019. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. See below for the evaluation of the impact of its adoption. 2016-02, 2018-01, 2018-10, 2018-11 Leases (Topic 842) ASU 2016-02 and its subsequent corresponding updates will require lessees to recognize assets and liabilities for most leases and recognize expenses in a manner similar to the current accounting method. For lessors, the guidance modifies the lease classification criteria and the accounting for sales-type and direct financing leases. The guidance also eliminates the current real estate-specific provisions. The standard must be adopted using a modified retrospective approach at the beginning of the earliest comparative period presented in the financial statements (January 1, 2017). The FASB proposed amending the standard to give another option for transition. The proposed transition method would allow entities to not apply the new lease standard in the comparative periods presented in their financial statements in the year of adoption. Under the proposed transition method, the entity would apply the transition provisions on January 1, 2019 (i.e., the effective date). At transition, lessees and lessors are permitted to make an election to apply a package of practical expedients that allow them not to reassess: (1) whether any expired or existing contracts are or contain leases, (2) lease classification for any expired or existing leases, and (3) whether initial direct costs for any expired or existing leases qualify for capitalization under FASC 842. These three practical expedients must be elected as a package and must be consistently applied to all leases. Furthermore, entities are also permitted to make an election to use hindsight when determining lease term and lessees can elect to use hindsight when assessing the impairment of right-of-use assets. We have established a task force focused on the identification of contracts that would be under the scope of the new standard and on the assessment and measurement of the right-of-use asset and related liability. Additionally, the implementation team has been working on the configuration of a lease accounting system that will support the implementation and the subsequent accounting. The implementation team is in the process of evaluating changes to our business processes, systems and controls to support recognition and disclosure under the new standard. As we have preliminarily concluded that at transition we would be using the package of practical expedients, the main impact expected as of the effective date is the recognition of the right to use asset and the related liability in the financial statements for all those contracts that contain a lease and for which we are the lessee. However, income statement presentation and the expense recognition pattern are not expected to change. Under FASC 842, it is expected that fewer contracts will contain a lease. Under the new rules, all operating leases will be recorded as right-of-use assets with an off-setting lease liability. |
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 524,000 customers located in West Central Ohio. Additionally, DP&L provides retail SSO electric service to residential, commercial, industrial and governmental customers in a 6,000 - square mile area of West Central Ohio. Through September 30, 2017, DP&L owned undivided interests in multiple coal-fired and peaking electric generating facilities as well as numerous transmission facilities. On 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. As a result of Generation Separation, DP&L now only has one reportable segment, the Utility segment. In addition to DP&L's electric transmission and distribution businesses, the Utility segment includes revenues and costs associated with DP&L's investment in OVEC and the historical results of DP&L’s Beckjord and Hutchings Coal generating facilities, which have either been closed or sold. 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. Through September 30, 2017, DP&L sold its generated energy and capacity into the wholesale market. After September 30, 2017, DP&L continues to sell its proportional share of energy and capacity from its investment in OVEC. DP&L is a subsidiary of DPL. The terms “we,” “us,” “our” and “ours” are used to refer to DP&L . 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 648 people as of September 30, 2018 . Approximately 55% of DP&L employees are under a collective bargaining agreement, which expires October 31, 2020 . Financial Statement Presentation DP&L does not have any subsidiaries. Certain immaterial amounts from prior periods have been reclassified to conform to the current period presentation. 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, 2017 . 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, 2018 ; our results of operations for the three and nine months ended September 30, 2018 and 2017 and our cash flows for the nine months ended September 30, 2018 and 2017 . Unless otherwise noted, all adjustments are normal and recurring in nature. Due to various factors, interim results for the three and nine months ended September 30, 2018 may not be indicative of our results that will be realized for the full year ending December 31, 2018 . 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: recognition of revenue including unbilled revenues, the carrying value of property, plant and equipment; 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. Cash, Cash Equivalents, and Restricted Cash The following table provides a summary of cash, cash equivalents, and restricted cash amounts reported on the Condensed Balance Sheet that reconcile to the total of such amounts as shown on the Condensed Statements of Cash Flows: $ in millions September 30, 2018 December 31, 2017 Cash and cash equivalents $ 10.7 $ 5.2 Restricted cash 2.0 0.4 Cash, Cash Equivalents, and Restricted Cash, End of Period $ 12.7 $ 5.6 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, 2018 and 2017 were $13.8 million and $13.0 million, respectively. The amounts of such taxes collected for the nine months ended September 30, 2018 and 2017 were $39.2 million and $36.9 million, respectively. New accounting pronouncements adopted in 2018 – The following table provides a brief description of recently adopted accounting pronouncements that had an impact on our financial statements. Accounting pronouncements not listed below were assessed and determined to be either not applicable or did not have a material impact on our financial statements. ASU Number and Name Description Date of Adoption Effect on the financial statements upon adoption 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 costs associated with defined benefit plans and updates the guidance so that only the service cost component will be eligible for capitalization. January 1, 2018 The adoption of this standard resulted in a $1.2 million reclassification of non-service pension and other postretirement benefit costs (credits) from Operating expense to Other income / (expense) - net for the nine months ended September 30, 2017. 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 The adoption of this standard resulted in a $27.0 million decrease in investing activities for the nine months ended September 30, 2017. 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities The standard significantly revises an entity’s accounting related to (1) classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. It also amends certain disclosures of financial instruments. January 1, 2018 We adopted this standard January 1, 2018. At that date, we transferred $1.7 million ($1.1 million net of tax) of unrealized gains from AOCI to Retained Earnings. 2014-09, 2015-14, 2016-08, 2016-10, 2016-12, 2016-20, 2017-05, 2017-13 Revenue from Contracts with Customers (Topic 606) See " Adoption of FASC Topic 606, Revenue from Contracts with Customers " below. January 1, 2018 See impact upon adoption of the standard below. Adoption of FASC Topic 606, "Revenue from Contracts with Customers" On January 1, 2018, we adopted ASU 2014-09, "Revenue from Contracts with Customers", and its subsequent corresponding updates ("FASC 606"). The core principle of this standard 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. We applied the modified retrospective method of adoption to those contracts which were not completed as of January 1, 2018. Results for reporting periods beginning January 1, 2018 are presented under FASC 606, while prior period amounts were not adjusted and continue to be reported in accordance with our historic accounting under the previous revenue recognition standard, FASC 605. For contracts that were modified before January 1, 2018, we have not retrospectively restated the contracts for modifications. We instead reflected the aggregate effect of all modifications when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price. We do not expect the adoption of the new revenue standard to have a material impact to our net income on an ongoing basis. There was no cumulative effect to our January 1, 2018 Condensed Consolidated Balance Sheet resulting from the adoption of FASC 606. See additional disclosures under FASC 606 in Note 12 – Revenue . New Accounting Pronouncements Issued But Not Yet Effective – The following table provides a brief description of recent accounting pronouncements that could have a material impact on our consolidated financial statements. Accounting pronouncements not listed below were assessed and determined to be either not applicable or are expected to have no material impact on our financial statements. ASU Number and Name Description Date of Adoption Effect on the financial statements upon adoption 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract This standard aligns the accounting for implementation costs incurred for a cloud computing arrangement that is a service with the requirement for capitalizing implementation costs associated with developing or obtaining internal-use software. January 1, 2020. Early adoption is permitted. We are currently evaluating the impact of adopting the standard on our financial statements. 2018-02, Income Statement — Reporting Comprehensive Income (Topic 220), Reclassification of Certain Tax Effects from AOCI This amendment allows a reclassification of the stranded tax effects resulting from the implementation of the Tax Cuts and Jobs Act from AOCI to retained earnings. Because this amendment only relates to the reclassification of the income tax effects of the Tax Cuts and Jobs Act, the underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. January 1, 2019. We are currently evaluating the impact of adopting the standard on our financial statements. 2017-12, Derivatives and Hedging (Topic 815): Targeted improvements to Accounting for Hedging Activities The standard updates the hedge accounting model to expand the ability to hedge nonfinancial and financial risk components, reduce complexity, and ease certain documentation and assessment requirements. When facts and circumstances are the same as at the previous quantitative test, a subsequent quantitative effectiveness test is not required. The standard also eliminates the requirement to separately measure and report hedge ineffectiveness. For cash flow hedges, this means that the entire change in the fair value of a hedging instrument will be recorded in other comprehensive income and amounts deferred will be reclassified to earnings 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. 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 for 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. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The standard updates the impairment model for financial assets measured at amortized cost. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking "expected loss" model that generally will result in the earlier recognition of allowance for losses. For available-for-sale debt securities with unrealized losses, entities will measure credit losses as it is done today, except that the losses will be recognized as an allowance rather than a reduction in the amortized cost of the securities. January 1, 2020. We are currently evaluating the impact of adopting the standard on our financial statements. ASU Number and Name Description Date of Adoption Effect on the financial statements upon adoption 2016-02, 2018-01, 2018-10, 2018-11 Leases (Topic 842) See " 2016-02, 2018-01, 2018-10, 2018-11, Leases (Topic 842) " below. January 1, 2019. We are currently evaluating the impact of adopting the standard on our financial statements. See below for the evaluation of the impact of its adoption. 2016-02, 2018-01, 2018-10, 2018-11 Leases (Topic 842) ASU 2016-02 and its subsequent corresponding updates will require lessees to recognize assets and liabilities for most leases and recognize expenses in a manner similar to the current accounting method. For lessors, the guidance modifies the lease classification criteria and the accounting for sales-type and direct financing leases. The guidance also eliminates the current real estate-specific provisions. The standard must be adopted using a modified retrospective approach at the beginning of the earliest comparative period presented in the financial statements (January 1, 2017). The FASB proposed amending the standard to give another option for transition. The proposed transition method would allow entities to not apply the new lease standard in the comparative periods presented in their financial statements in the year of adoption. Under the proposed transition method, the entity would apply the transition provisions on January 1, 2019 (i.e., the effective date). At transition, lessees and lessors are permitted to make an election to apply a package of practical expedients that allow them not to reassess: (1) whether any expired or existing contracts are or contain leases, (2) lease classification for any expired or existing leases, and (3) whether initial direct costs for any expired or existing leases qualify for capitalization under FASC 842. These three practical expedients must be elected as a package and must be consistently applied to all leases. Furthermore, entities are also permitted to make an election to use hindsight when determining lease term and lessees can elect to use hindsight when assessing the impairment of right-of-use assets. We have established a task force focused on the identification of contracts that would be under the scope of the new standard and on the assessment and measurement of the right-of-use asset and related liability. Additionally, the implementation team has been working on the configuration of a lease accounting system that will support the implementation and the subsequent accounting. The implementation team is in the process of evaluating changes to our business processes, systems and controls to support recognition and disclosure under the new standard. As we have preliminarily concluded that at transition we would be using the package of practical expedients, the main impact expected as of the effective date is the recognition of the right to use asset and the related liability in the financial statements for all those contracts that contain a lease and for which we are the lessee. However, income statement presentation and the expense recognition pattern are not expected to change. Under FASC 842, it is expected that fewer contracts will contain a lease. Under the new rules, all operating leases will be recorded as right-of-use assets with an off-setting lease liability. |
Supplemental Financial Informat
Supplemental Financial Information | 9 Months Ended |
Sep. 30, 2018 | |
Supplemental Financial Information [Line Items] | |
Supplemental Financial Information | Supplemental Financial Information Accounts receivable and Inventories are as follows at September 30, 2018 and December 31, 2017 : September 30, December 31, $ in millions 2018 2017 Accounts receivable, net: Unbilled revenue $ 11.0 $ 18.0 Customer receivables 60.4 45.2 Due from PJM transmission enhancement settlement (a) 21.7 — Other 3.5 2.5 Provision for uncollectible accounts (1.1 ) (1.1 ) Total accounts receivable, net $ 95.5 $ 64.6 Inventories, at average cost: Fuel and limestone $ 2.0 $ 4.1 Materials and supplies 8.1 8.1 Other 0.6 0.5 Total inventories, at average cost $ 10.7 $ 12.7 (a) - See Note 3 – Regulatory Matters for more information on this item. 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, 2018 and 2017 are as follows: Details about Accumulated Other Comprehensive Income / (Loss) components Affected line item in the Condensed Consolidated Statements of Operations Three months ended September 30, Nine months ended September 30, $ in millions 2018 2017 2018 2017 Gains and losses on equity securities (Note 5): Other income $ — $ — $ — $ (0.1 ) Retained earnings — — (1.6 ) — Tax benefit — — 0.6 — Net of income taxes — — (1.0 ) (0.1 ) Gains and losses on cash flow hedges (Note 6): Interest expense (0.3 ) (0.2 ) (0.9 ) (0.8 ) Tax benefit 0.1 0.1 0.3 0.3 Net of income taxes (0.2 ) (0.1 ) (0.6 ) (0.5 ) Gain / (loss) from discontinued operations — (3.5 ) 4.3 (8.5 ) Tax benefit / (expense) from discontinued operations — 1.2 (1.5 ) 3.0 Net of income taxes — (2.3 ) 2.8 (5.5 ) Amortization of defined benefit pension items (Note 9): Other income 0.2 — 0.5 1.4 Tax expense (0.1 ) — (0.1 ) (0.5 ) Net of income taxes 0.1 — 0.4 0.9 Total reclassifications for the period, net of income taxes $ (0.1 ) $ (2.4 ) $ 1.6 $ (5.2 ) The changes in the components of Accumulated Other Comprehensive Income / (Loss) during the nine months ended September 30, 2018 are as follows: $ in millions Gains / (losses) on equity securities Gains / (losses) on cash flow hedges Change in unfunded pension obligation Total Balance at January 1, 2018 $ 1.0 $ 14.7 $ (14.9 ) $ 0.8 Other comprehensive income before reclassifications — 0.4 — 0.4 Amounts reclassified from AOCI to earnings — 2.2 0.4 2.6 Amounts reclassified from AOCI to Retained earnings (1.0 ) — — (1.0 ) Net current period other comprehensive income / (loss) (1.0 ) 2.6 0.4 2.0 Balance at September 30, 2018 $ — $ 17.3 $ (14.5 ) $ 2.8 Operating expenses - other Operating expenses - other generally includes gains or losses on asset sales or dispositions, insurance recoveries, gains or losses on the sale of businesses and other expense or income from miscellaneous transactions. The components are summarized as follows: Three months ended Nine months ended September 30, September 30, $ in millions 2018 2017 2018 2017 Loss on disposal and sale of businesses $ — $ — $ 11.7 $ — Fixed-asset impairment 1.6 — 2.8 — Other — (0.4 ) 0.1 (0.4 ) Net other expense / (income) $ 1.6 $ (0.4 ) $ 14.6 $ (0.4 ) |
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, 2018 and December 31, 2017 : September 30, December 31, $ in millions 2018 2017 Accounts receivable, net: Unbilled revenue $ 11.0 $ 18.0 Customer receivables 59.0 44.2 Amounts due from affiliates 9.0 3.7 Due from PJM transmission enhancement settlement (a) 21.7 — Other 3.4 6.0 Provision for uncollectible accounts (1.1 ) (1.1 ) Total accounts receivable, net $ 103.0 $ 70.8 Inventories, at average cost: Materials and supplies $ 6.9 $ 6.9 Other 0.6 0.4 Total inventories, at average cost $ 7.5 $ 7.3 (a) - See Note 3 – Regulatory Matters for more information on this item. 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, 2018 and 2017 are as follows: Details about Accumulated Other Comprehensive Income / (Loss) components Affected line item in the Condensed Statements of Operations Three months ended September 30, Nine months ended September 30, $ in millions 2018 2017 2018 2017 Gains and losses on equity securities activity (Note 5): Other income $ — $ — $ — $ (0.1 ) Retained earnings — — (1.7 ) — Tax benefit — — 0.6 — Net of income taxes — — (1.1 ) (0.1 ) Gains and losses on cash flow hedges (Note 6): Interest expense (0.3 ) (0.3 ) (1.1 ) (0.8 ) Tax benefit from continuing operations 0.1 0.1 0.6 0.3 Net of income taxes (0.2 ) (0.2 ) (0.5 ) (0.5 ) Gain from discontinued operations — (3.5 ) — (8.5 ) Tax expense from discontinued operations — 1.3 — 3.0 Net of income taxes — (2.2 ) — (5.5 ) Amortization of defined benefit pension items (Note 9): Other expense, net 1.1 1.1 3.2 5.9 Tax expense (0.2 ) (0.4 ) (0.7 ) (2.1 ) Net of income taxes 0.9 0.7 2.5 3.8 Total reclassifications for the period, net of income taxes $ 0.7 $ (1.7 ) $ 0.9 $ (2.3 ) The changes in the components of Accumulated Other Comprehensive Income / (Loss) during the nine months ended September 30, 2018 are as follows: $ in millions Gains / (losses) on equity securities Gains / (losses) on cash flow hedges Change in unfunded pension obligation Total Balance at January 1, 2018 $ 1.1 $ 1.4 $ (38.7 ) $ (36.2 ) Other comprehensive income before reclassifications — 0.5 — 0.5 Amounts reclassified from AOCI to earnings — (0.5 ) 2.5 2.0 Amounts reclassified from AOCI to Retained earnings (1.1 ) — — (1.1 ) Net current period other comprehensive income / (loss) (1.1 ) — 2.5 1.4 Balance at September 30, 2018 $ — $ 1.4 $ (36.2 ) $ (34.8 ) |
Regulatory Matters (Notes)
Regulatory Matters (Notes) | 9 Months Ended |
Sep. 30, 2018 | |
Schedule of Regulatory Assets and Liabilities [Text Block] | Regulatory Matters On September 26, 2018 the PUCO issued the DRO establishing new base distribution rates for DP&L , which became effective October 1, 2018. The DRO approved, without modification, a stipulation and recommendation previously filed by DP&L , along with various intervening parties and the PUCO staff. The DRO established a revenue requirement of $248.0 million for DP&L 's electric service base distribution rates which reflects an increase to distribution revenues of approximately $29.8 million per year. In addition to the increase in base distribution rates, and among other matters, the DRO provides for a return on equity of 9.999% and a cost of long-term debt of 4.8% and for the following items: DIR – The DRO authorized DP&L to begin charging a Distribution Investment Rider ("DIR") set initially at $12.2 million annually, effective October 1, 2018. The DIR revenue requirement shall be updated quarterly and will increase as DP&L makes qualified investments in its distribution network, subject to annual revenue limits which increase each year. The DIR will expire in November 2022 unless DP&L files a base distribution rate case on or before October 31, 2022, in which case the DIR will expire in November 2023. Approximately $0.4 million of DIR revenue is included in DP&L’s unbilled revenues at September 30, 2018. Decoupling Rider – The DRO eliminated provisions in the existing decoupling rider which allowed DP&L to recover lost revenues resulting from the implementation of energy efficiency programs and replaced it with a revenue requirement that attempts to eliminate the impacts of weather and demand on DP&L ’s revenues from residential and commercial distribution customers. As a result, in years with very mild weather and/or decreased demand, DP&L will be able to accrue a regulatory asset for recovery through the rider to normalize the revenues. Conversely, in periods of extreme temperatures or high demand for electricity, DP&L may record a liability for future reimbursement to customers. The rider also includes a one-time $3.7 million revenue requirement based on the increase in the number of DP&L’s residential and commercial customers from the rate case test year until September 30, 2018. Such amount was accrued and included in revenues in the third quarter of 2018 and will be collected by DP&L in 2019. TCJA – The DRO only partially resolved the TCJA impacts. The new distribution rates include the impacts of the decrease in current federal income taxes beginning October 1, 2018. The DRO did not designate how much DP&L may owe for any overcollection of taxes from January 1, 2018 through September 30, 2018, nor did it resolve any decrease in future rates related to amortization of excess accumulated deferred income taxes (“ADIT”). The DRO did, however, stipulate that DP&L must refund its customers an amount no less than $4.0 million per year for the first five years of the amortization period unless all balances owed are fully returned within the first five years. For more on the impacts of the TCJA, please see below. Vegetation Management Costs – The DRO authorizes DP&L to defer as a regulatory asset, with no carrying costs, annual expenses for vegetation management performed by third-party vendors. For calendar year 2018 annual expenses which are incremental to the baseline of $10.7 million can be deferred up to a $4.6 million cap. For calendar years 2019 and thereafter, annual expenses in excess of $15.7 million can be deferred up to a $4.6 million annual cap. Annual spending of less than the vegetation management baseline amounts will result in a reduction to the regulatory asset or creation of a regulatory liability. In the third quarter of 2018, DP&L accrued a regulatory asset of $3.8 million based upon such provisions and spending above the baseline pro-rated to nine months. Impact of tax reform On January 10, 2018, the PUCO initiated a proceeding to consider the impacts of the TCJA to determine the appropriate course of action to pass benefits resulting from the legislation on to ratepayers. The PUCO also directed Ohio utilities to record deferred liabilities for the estimated reduction in federal income tax resulting from the TCJA beginning January 1, 2018. Under the terms of the stipulation in the distribution rate case mentioned above, DP&L agreed to file an application at the PUCO to refund eligible excess ADIT and any related regulatory liability over a 10 -year period. Excess ADIT related to depreciation life and method differences will be returned to customers in accordance with federal tax law and related regulations. FERC proceedings On March 15, 2018, the FERC initiated “show cause” proceedings against numerous utilities, including DP&L , that had stated transmission rates, directing each utility to file either revised transmission rates to reflect the effects of the TCJA or to show cause why no changes in transmission rates were appropriate. On May 8, 2018, DP&L filed to adjust its FERC jurisdictional transmission rates to reflect this impact. The filing is currently under review by the FERC and DP&L is unable to predict whether the proposed rates will be accepted as filed or if they may be further modified. As proposed, the decrease is approximately $2.4 million annually. DP&L has recorded a reduction to revenues and established regulatory liabilities for the estimated impact. PJM transmission enhancement settlement On May 31, 2018, the FERC issued an Order on Contested Settlement regarding the cost allocation method for existing and new transmission facilities contained in the PJM Interconnection’s Open Access Transmission Tariff. The FERC order approved the settlement which reduces DP&L’s transmission costs through PJM beginning in August 2018, including credits to reimburse DP&L for amounts overcharged in prior years. DP&L has estimated the prior overcharge to be $40.4 million , of which approximately $4.8 million has been repaid to DP&L through September 30, 2018 and $24.1 million is classified as current on the accompanying Condensed Consolidated Balance Sheet. All of the transmission charges and credits impacted by this FERC order are items that are included for 100% recovery in DP&L’s nonbypassable TCRR. Accordingly, DP&L has also established offsetting regulatory liabilities. While this development will have a temporary cash flow benefit to DP&L , there is no impact to operating income or net income as all credits will be passed to DP&L’s customers through the TCRR. |
Subsidiaries [Member] | |
Schedule of Regulatory Assets and Liabilities [Text Block] | Regulatory Matters On September 26, 2018 the PUCO issued the DRO establishing new base distribution rates for DP&L , which became effective October 1, 2018. The DRO approved, without modification, a stipulation and recommendation previously filed by DP&L , along with various intervening parties and the PUCO staff. The DRO established a revenue requirement of $248.0 million for DP&L 's electric service base distribution rates which reflects an increase to distribution revenues of approximately $29.8 million per year. In addition to the increase in base distribution rates, and among other matters, the DRO provides for a return on equity of 9.999% and a cost of long-term debt of 4.8% and for the following items: DIR – The DRO authorized DP&L to begin charging a Distribution Investment Rider ("DIR") set initially at $12.2 million annually, effective October 1, 2018. The DIR revenue requirement shall be updated quarterly and will increase as DP&L makes qualified investments in its distribution network, subject to annual revenue limits which increase each year. The DIR will expire in November 2022 unless DP&L files a base distribution rate case on or before October 31, 2022, in which case the DIR will expire in November 2023. Approximately $0.4 million of DIR revenue is included in DP&L’s unbilled revenues at September 30, 2018. Decoupling Rider – The DRO eliminated provisions in the existing decoupling rider which allowed DP&L to recover lost revenues resulting from the implementation of energy efficiency programs and replaced it with a revenue requirement that attempts to eliminate the impacts of weather and demand on DP&L ’s revenues from residential and commercial distribution customers. As a result, in years with very mild weather and/or decreased demand, DP&L will be able to accrue a regulatory asset for recovery through the rider to normalize the revenues. Conversely, in periods of extreme temperatures or high demand for electricity, DP&L may record a liability for future reimbursement to customers. The rider also includes a one-time $3.7 million revenue requirement based on the increase in the number of DP&L’s residential and commercial customers from the rate case test year until September 30, 2018. Such amount was accrued and included in revenues in the third quarter of 2018 and will be collected by DP&L in 2019. TCJA – The DRO only partially resolved the TCJA impacts. The new distribution rates include the impacts of the decrease in current federal income taxes beginning October 1, 2018. The DRO did not designate how much DP&L may owe for any overcollection of taxes from January 1, 2018 through September 30, 2018, nor did it resolve any decrease in future rates related to amortization of excess accumulated deferred income taxes (“ADIT”). The DRO did, however, stipulate that DP&L must refund its customers an amount no less than $4.0 million per year for the first five years of the amortization period unless all balances owed are fully returned within the first five years. For more on the impacts of the TCJA, please see below. Vegetation Management Costs – The DRO authorizes DP&L to defer as a regulatory asset, with no carrying costs, annual expenses for vegetation management performed by third-party vendors. For calendar year 2018 annual expenses which are incremental to the baseline of $10.7 million can be deferred up to a $4.6 million cap. For calendar years 2019 and thereafter, annual expenses in excess of $15.7 million can be deferred up to a $4.6 million annual cap. Annual spending of less than the vegetation management baseline amounts will result in a reduction to the regulatory asset or creation of a regulatory liability. In the third quarter of 2018, DP&L accrued a regulatory asset of $3.8 million based upon such provisions and spending above the baseline pro-rated to nine months. Impact of tax reform On January 10, 2018, the PUCO initiated a proceeding to consider the impacts of the TCJA to determine the appropriate course of action to pass benefits resulting from the legislation on to ratepayers. The PUCO also directed Ohio utilities to record deferred liabilities for the estimated reduction in federal income tax resulting from the TCJA beginning January 1, 2018. Under the terms of the stipulation in the distribution rate case mentioned above, DP&L agreed to file an application at the PUCO to refund eligible excess ADIT and any related regulatory liability over a 10 -year period. Excess ADIT related to depreciation life and method differences will be returned to customers in accordance with federal tax law and related regulations. FERC proceedings On March 15, 2018, the FERC initiated “show cause” proceedings against numerous utilities, including DP&L , that had stated transmission rates, directing each utility to file either revised transmission rates to reflect the effects of the TCJA or to show cause why no changes in transmission rates were appropriate. On May 8, 2018, DP&L filed to adjust its FERC jurisdictional transmission rates to reflect this impact. The filing is currently under review by the FERC and DP&L is unable to predict whether the proposed rates will be accepted as filed or if they may be further modified. As proposed, the decrease is approximately $2.4 million annually. DP&L has recorded a reduction to revenues and established regulatory liabilities for the estimated impact. PJM transmission enhancement settlement On May 31, 2018, the FERC issued an Order on Contested Settlement regarding the cost allocation method for existing and new transmission facilities contained in the PJM Interconnection’s Open Access Transmission Tariff. The FERC order approved the settlement which reduces DP&L’s transmission costs through PJM beginning in August 2018, including credits to reimburse DP&L for amounts overcharged in prior years. DP&L has estimated the prior overcharge to be $40.4 million , of which approximately $4.8 million has been repaid to DP&L through September 30, 2018 and $24.1 million is classified as current on the accompanying Condensed Balance Sheet. All of the transmission charges and credits impacted by this FERC order are items that are included for 100% recovery in DP&L’s nonbypassable TCRR. Accordingly, DP&L has also established offsetting regulatory liabilities. While this development will have a temporary cash flow benefit to DP&L , there is no impact to operating income or net income as all credits will be passed to DP&L’s customers through the TCRR. |
Property, Plant and Equipment (
Property, Plant and Equipment (Notes) | 9 Months Ended |
Sep. 30, 2018 | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment Disclosure [Text Block] | Property, Plant and Equipment Coal-fired facilities As of September 30, 2018 , DPL , through a subsidiary, and another energy company have undivided ownership interests in one coal-fired EGU, Conesville. Certain expenses, primarily fuel costs for the generating units, are allocated to DPL and the other owner based on 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. DPL’s share of the operations of this facility is included within the corresponding line in the Condensed Consolidated Statements of Operations, and DPL’s share of the investment in the facility is included within Total net property, plant and equipment in the Condensed Consolidated Balance Sheets. Each co-owner provides their own financing for their share of the operations and capital expenditures of the jointly-owned station. In June 2018, DP&L closed on a transmission asset transaction with Duke and AEP, where ownership stakes in certain previously co-owned transmission assets were exchanged to eliminate co-ownership. Each previously co-owned transmission asset became wholly-owned by one of DP&L , Duke or AEP after the transaction. This transaction also resulted in cash proceeds to DP&L of $10.6 million . 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 AROs $ in millions Balance at January 1, 2018 $ 15.1 Revisions to cash flow and timing estimates 1.6 Accretion expense 0.2 Settlements (3.4 ) Balance at September 30, 2018 $ 13.5 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 In June 2018, DP&L closed on a transmission asset transaction with Duke and AEP, where ownership stakes in certain previously co-owned transmission assets were exchanged to eliminate co-ownership. Each previously co-owned transmission asset became wholly-owned by one of DP&L , Duke or AEP after the transaction. This transaction also resulted in cash proceeds to DP&L of $10.6 million . 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 AROs $ in millions Balance at January 1, 2018 $ 8.0 Revisions to cash flow and timing estimates 0.1 Settlements (3.4 ) Balance at September 30, 2018 $ 4.7 See Note 5 – Fair Value for further discussion on changes to our AROs. |
Fair Value
Fair Value | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value | Fair Value The following table presents the fair value, carrying value and cost of our non-derivative instruments at September 30, 2018 and December 31, 2017 . Information about the fair value of our derivative instruments can be found in Note 6 – Derivative Instruments and Hedging Activities . September 30, 2018 December 31, 2017 $ in millions Cost Fair Value Cost Fair Value Assets Money market funds $ 0.3 $ 0.3 $ 0.3 $ 0.3 Equity securities 2.4 4.1 2.5 4.2 Debt securities 4.1 4.0 4.3 4.3 Hedge funds 0.2 0.2 0.1 0.2 Tangible assets 0.1 0.1 0.1 0.1 Total Assets $ 7.1 $ 8.7 $ 7.3 $ 9.1 Carrying Value Fair Value Carrying Value Fair Value Liabilities Long-term debt $ 1,476.0 $ 1,560.1 $ 1,704.8 $ 1,819.3 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. 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, 2018 or 2017 . 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. ASU 2016-01 “Recognition and Measurement of Financial Assets and Financial Liabilities” was effective as of January 1, 2018. This ASU requires the change in the fair value of equity instruments to be recorded in income rather than in OCI. Equity Instruments were defined to include all mutual funds, regardless of the underlying investments. Therefore, as of January 1, 2018, AOCI of $1.6 million ( $1.0 million net of tax) was reversed to Retained Earnings and all future changes to fair value on the Master Trust Assets will be included in income in the period that the changes occur. These changes to fair value were not material for the nine months ended September 30, 2018 . 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 consolidated balance sheets. DPL had $1.6 million ( $1.0 million after tax) of unrealized gains and immaterial unrealized losses on the Master Trust assets in AOCI at December 31, 2017 . 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 the carrying value, 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, 2018 and December 31, 2017 and the respective category within the fair value hierarchy for DPL is as follows: $ in millions Fair value at September 30, 2018 (a) Fair value at December 31, 2017 (a) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Master Trust assets Money market funds $ 0.3 $ — $ — $ 0.3 $ 0.3 $ — $ — $ 0.3 Equity securities — 4.1 — 4.1 — 4.2 — 4.2 Debt securities — 4.0 — 4.0 — 4.3 — 4.3 Hedge funds — 0.2 — 0.2 — 0.2 — 0.2 Tangible assets — 0.1 — 0.1 — 0.1 — 0.1 Total Master Trust assets 0.3 8.4 — 8.7 0.3 8.8 — 9.1 Derivative assets Interest rate hedges — 2.2 — 2.2 — 1.8 — 1.8 Total Derivative assets — 2.2 — 2.2 — 1.8 — 1.8 Total Assets $ 0.3 $ 10.6 $ — $ 10.9 $ 0.3 $ 10.6 $ — $ 10.9 Liabilities Long-term debt $ — $ 1,542.4 $ 17.7 $ 1,560.1 $ — $ 1,801.5 $ 17.8 $ 1,819.3 Total Liabilities $ — $ 1,542.4 $ 17.7 $ 1,560.1 $ — $ 1,801.5 $ 17.8 $ 1,819.3 (a) Includes credit valuation adjustment Our financial instruments are valued using the market approach in the following categories: • Level 1 inputs are used 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 interest rate hedge contracts which are valued using a benchmark interest rate. 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 certain debt balances are considered a Level 3 input because the notes are not publicly traded. Our long-term debt is fair valued for disclosure purposes only. All 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. 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. The balance of AROs was $13.5 million and $15.1 million at September 30, 2018 and December 31, 2017 , respectively, which excludes AROs associated with our discontinued operations (see Note 15 – Discontinued Operations of Notes to DPL's Condensed Consolidated Financial Statements ). |
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 following table presents the fair value, carrying value and cost of our non-derivative instruments at September 30, 2018 and December 31, 2017 . Information about the fair value of our derivative instruments can be found in Note 6 – Derivative Instruments and Hedging Activities . September 30, 2018 December 31, 2017 $ in millions Cost Fair Value Cost Fair Value Assets Money market funds $ 0.3 $ 0.3 $ 0.3 $ 0.3 Equity securities 2.4 4.1 2.5 4.2 Debt securities 4.1 4.0 4.3 4.3 Hedge funds 0.2 0.2 0.1 0.2 Tangible assets 0.1 0.1 0.1 0.1 Total assets $ 7.1 $ 8.7 $ 7.3 $ 9.1 Carrying Value Fair Value Carrying Value Fair Value Liabilities Long-term debt $ 586.7 $ 594.9 $ 646.6 $ 658.4 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. 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, 2018 or 2017 . 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. ASU 2016-01 “Recognition and Measurement of Financial Assets and Financial Liabilities” was effective as of January 1, 2018. This ASU requires the change in the fair value of equity instruments to be recorded in income rather than in OCI. Equity Instruments were defined to include all mutual funds, regardless of the underlying investments. Therefore, as of January 1, 2018, AOCI of $1.7 million ( $1.1 million net of tax) was reversed to Retained Earnings and all future changes to fair value on the Master Trust Assets will be included in income in the period that the changes occur. These changes to fair value were not material for the nine months ended September 30, 2018 . 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. DP&L had $1.7 million ( $1.1 million after tax) of unrealized gains and immaterial unrealized losses on the Master Trust assets in AOCI at December 31, 2017 . 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 the carrying value, 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, 2018 and December 31, 2017 and the respective category within the fair value hierarchy for DP&L is as follows: $ in millions Fair value at September 30, 2018 (a) Fair value at December 31, 2017 (a) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Master Trust assets Money market funds $ 0.3 $ — $ — $ 0.3 $ 0.3 $ — $ — $ 0.3 Equity securities — 4.1 — 4.1 — 4.2 — 4.2 Debt securities — 4.0 — 4.0 — 4.3 — 4.3 Hedge funds — 0.2 — 0.2 — 0.2 — 0.2 Tangible assets — 0.1 — 0.1 — 0.1 — 0.1 Total Master Trust assets 0.3 8.4 — 8.7 0.3 8.8 — 9.1 Derivative assets Interest rate hedges — 2.2 — 2.2 — 1.8 — 1.8 Total derivative assets — 2.2 — 2.2 — 1.8 — 1.8 Total assets $ 0.3 $ 10.6 $ — $ 10.9 $ 0.3 $ 10.6 $ — $ 10.9 Liabilities Long-term debt $ — $ 577.2 $ 17.7 594.9 $ — $ 640.6 $ 17.8 $ 658.4 Total liabilities $ — $ 577.2 $ 17.7 $ 594.9 $ — $ 640.6 $ 17.8 $ 658.4 (a) Includes credit valuation adjustment Our financial instruments are valued using the market approach in the following categories: • Level 1 inputs are used 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 interest rate hedge contracts which are valued using a benchmark interest rate. 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 certain debt balances are considered a Level 3 input because the notes are not publicly traded. Our long-term debt is fair valued for disclosure purposes only. All 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. 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. The balance of AROs was $4.7 million and $8.0 million at September 30, 2018 and December 31, 2017, respectively. |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 9 Months Ended |
Sep. 30, 2018 | |
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 interest rate hedges to manage the interest rate risk of our variable rate debt. 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. In prior periods, we have used commodity derivatives principally to manage the risk of changes in market prices for commodities. 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 considered to determine the hedge effectiveness of the cash flow hedges. As of September 30, 2018 , we have two interest rate swaps to hedge the variable interest on our $140.0 million variable interest rate tax-exempt First Mortgage Bonds. The interest rate swaps have a combined notional amount of $140.0 million and will settle monthly based on a one-month LIBOR. As of December 31, 2017, the interest rate swaps had a combined notional amount of $200.0 million . On March 29, 2018, we settled $60.0 million of these interest rate swaps due to the partial repayment of the underlying debt and a gain of $0.8 million was recorded as a reduction to interest expense. Since the swap was partially settled, the remaining swaps were de-designated and then re-designated with a new hypothetical derivative. The AOCI associated with the remaining swaps will be amortized out of AOCI into interest expense over the remaining life of the underlying debt. 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 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, 2018 and 2017 : Three months ended Three months ended September 30, 2018 September 30, 2017 Interest Interest $ in millions (net of tax) Power Rate Hedge Power Rate Hedge Beginning accumulated derivative gains in AOCI $ — $ 17.4 $ 3.0 $ 17.2 Net gains associated with current period hedging transactions — 0.1 1.3 0.1 Net losses reclassified to earnings Interest expense — (0.2 ) — (0.2 ) Loss from discontinued operations — — (2.2 ) — Ending accumulated derivative gains in AOCI $ — $ 17.3 $ 2.1 $ 17.1 Nine months ended Nine months ended September 30, 2018 September 30, 2017 Interest Interest $ in millions (net of tax) Power Rate Hedge Power Rate Hedge Beginning accumulated derivative gains / (losses) in AOCI $ (2.8 ) $ 17.5 $ (4.3 ) $ 17.4 Net gains associated with current period hedging transactions — 0.4 11.9 0.2 Net gains / (losses) reclassified to earnings Interest expense — (0.6 ) — (0.5 ) Gain / (loss) from discontinued operations 2.8 — (5.5 ) — Ending accumulated derivative gains in AOCI $ — $ 17.3 $ 2.1 $ 17.1 Portion expected to be reclassified to earnings in the next twelve months $ (0.8 ) Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) 23 Net gains or losses associated with the ineffective portion of the hedging transactions were immaterial in the periods presented. Financial Statement Effect 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 fair value derivative position of DPL's interest rate swaps are as follows: Fair Values of Derivative Instruments at September 30, 2018 Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets $ in millions Hedging Designation Gross Fair Value as presented in the Condensed 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) Interest rate swap Designated $ 0.9 $ — $ — $ 0.9 Long-term derivative positions (presented in Other deferred assets) Interest rate swap Designated 1.3 — — 1.3 Total assets $ 2.2 $ — $ — $ 2.2 (a) Includes credit valuation adjustment. Fair Values of Derivative Instruments at December 31, 2017 Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets $ in millions Hedging Designation Gross Fair Value as presented in the Condensed Consolidated Balance Sheets (a) Financial Instruments with Same Counterparty in Offsetting Position Cash Collateral Net Fair Value Assets Long-term derivative positions (presented in Other deferred assets) Interest rate swaps Designated $ 1.8 $ — $ — $ 1.8 Total assets $ 1.8 $ — $ — $ 1.8 (a) Includes credit valuation adjustment. Any ineffectiveness on the interest rate hedges and the monthly settlement of the interest rate hedges is recorded in interest expense within the Condensed Consolidated Statements of Operations. |
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 interest rate hedges to manage the interest rate risk of our variable rate debt. 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. In prior periods, we have used commodity derivatives principally to manage the risk of changes in market prices for commodities. 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 considered to determine the hedge effectiveness of the cash flow hedges. As of September 30, 2018 , we have two interest rate swaps to hedge the variable interest on our $140.0 million variable interest rate tax-exempt First Mortgage Bonds. The interest rate swaps have a combined notional amount of $140.0 million and will settle monthly based on a one-month LIBOR. As of December 31, 2017, the interest rate swaps had a combined notional amount of $200.0 million . On March 29, 2018, we settled $60.0 million of these interest rate swaps due to the partial repayment of the underlying debt and a gain of $0.8 million was recorded as a reduction to interest expense. Since the swap was partially settled, the remaining swaps were de-designated and then re-designated with a new hypothetical derivative. The AOCI associated with the remaining swaps will be amortized out of AOCI into interest expense over the remaining life of the underlying debt. 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, 2018 and 2017 : Three months ended Three months ended September 30, 2018 September 30, 2017 Interest Interest $ in millions (net of tax) Rate Hedge Power Rate Hedge Beginning accumulated derivative gains in AOCI $ 1.6 $ 3.0 $ 1.4 Net gains associated with current period hedging transactions — 1.3 0.1 Net losses reclassified to earnings Interest expense (0.2 ) — (0.2 ) Net losses reclassified to discontinued operations — (2.2 ) — Ending accumulated derivative gains in AOCI $ 1.4 $ 2.1 $ 1.3 Nine months ended Nine months ended September 30, 2018 September 30, 2017 Interest Interest $ in millions (net of tax) Rate Hedge Power Rate Hedge Beginning accumulated derivative gains / (losses) in AOCI $ 1.4 $ (4.3 ) $ 1.6 Net gains associated with current period hedging transactions 0.5 11.9 0.2 Net losses reclassified to earnings Interest expense (0.5 ) — (0.5 ) Loss from discontinued operations — (5.5 ) — Ending accumulated derivative gains in AOCI $ 1.4 $ 2.1 $ 1.3 Portion expected to be reclassified to earnings in the next twelve months $ (0.8 ) Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) 23 Net gains or losses associated with the ineffective portion of the hedging transactions were immaterial in the periods presented. Financial Statement Effect 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 fair value derivative position of DP&L's interest rate swaps are as follows: Fair Values of Derivative Instruments at September 30, 2018 Gross Amounts Not Offset in the Condensed Balance Sheets $ in millions Hedging Designation Gross Fair Value as presented in the Condensed 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) Interest rate swap Designated $ 0.9 $ — $ — $ 0.9 Long-term derivative positions (presented in Other deferred assets) Interest rate swap Designated 1.3 1.3 Total assets $ 2.2 $ — $ — $ 2.2 (a) Includes credit valuation adjustment. Fair Values of Derivative Instruments at December 31, 2017 Gross Amounts Not Offset in the Condensed Balance Sheets $ in millions Hedging Designation Gross Fair Value as presented in the Condensed Balance Sheets (a) Financial Instruments with Same Counterparty in Offsetting Position Cash Collateral Net Fair Value Assets Long-term derivative positions (presented in Other deferred assets) Interest rate swaps Designated $ 1.8 $ — $ — $ 1.8 Total assets $ 1.8 $ — $ — $ 1.8 (a) Includes credit valuation adjustment. Any ineffectiveness on the interest rate hedges and the monthly settlement of the interest rate hedges is recorded in interest expense within the Condensed Statements of Operations. |
Debt Obligations
Debt Obligations | 9 Months Ended |
Sep. 30, 2018 | |
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 2018 2017 Term loan - rates from 3.57% - 4.82% (a) and 4.01% - 4.60% (b) 2022 $ 437.2 $ 440.6 Tax-exempt First Mortgage Bonds - rates from 2.50% - 2.72% (a) and 1.52% - 1.92% (b) 2020 140.0 200.0 U.S. Government note 4.2% 2061 17.7 17.8 Unamortized deferred financing costs (6.7 ) (9.8 ) Unamortized long-term debt discounts and premiums, net (1.5 ) (2.0 ) Total long-term debt at consolidated subsidiary 586.7 646.6 Bank term loan - rates from 3.82% - 3.90% (a) and 3.02% - 4.10% (b) 2020 — 70.0 Senior unsecured notes 6.75% 2019 99.0 200.0 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 (4.8 ) (6.9 ) Unamortized long-term debt discounts and premiums, net (0.5 ) (0.5 ) Total long-term debt 1,476.0 1,704.8 Less: current portion (4.6 ) (4.6 ) Long-term debt, net of current portion $ 1,471.4 $ 1,700.2 (a) Range of interest rates for the nine months ended September 30, 2018 . (b) Range of interest rates for the year ended December 31, 2017 . (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. DPL has $99.0 million outstanding principal on its 6.75% Senior Notes due October 1, 2019. We believe that we will be able to meet this obligation through existing cash balances, cash generated from operating activities, borrowing capacity on our credit facility, and/or other financing options based on our current credit ratings. Line of credit At September 30, 2018 and December 31, 2017 , DPL had no outstanding borrowings on its line of credit. At September 30, 2018 and December 31, 2017 , DP&L had $0.0 million and $10.0 million in outstanding borrowings on its line of credit, respectively. Significant transactions On March 30, 2018, DPL issued a Notice of Partial Redemption to the Trustee (U.S. Bank) on the DPL 6.75% Senior Notes due 2019. DPL notified the trustee that it was calling $101.0 million of the $200.0 million outstanding principal amount of these notes. These bonds were redeemed at par plus accrued interest and a make-whole premium of $5.1 million on April 30, 2018 with cash on hand. On March 30, 2018, DP&L commenced a redemption of $60.0 million of outstanding tax exempt First Mortgage Bonds due 2020 at par value (plus accrued and unpaid interest). These bonds were redeemed at par plus accrued interest on April 30, 2018 with cash on hand. On March 27, 2018, DPL made a $70.0 million prepayment to eliminate the outstanding balance of its bank term loan in full. As of March 31, 2018, the term loan was fully paid off. On January 3, 2018, DP&L and its lenders amended DP&L's Term Loan B credit agreement. The amendment (a) modified the definition of "applicable rate", from 2.25% per annum to 1.00% per annum - in the case of the Base Rate, and from 3.25% per annum to 2.00% per annum - in the case of the Eurodollar Rate, and (b) modified a "call protection" provision which as modified stated that in the event the loan was repriced or any portion of the loans were prepaid, repaid, refinanced, substituted, or replaced on or prior July 3, 2018, such prepayment, acceleration, repayment, refinancing, substitution or replacement would have been made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. After July 3, 2018, any such transaction would occur at 100% of the principal amount of the then outstanding loans. There were no such transactions prior to July 3, 2018. Long-term debt covenants and restrictions DPL’s revolving credit agreement has 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 ratio in the agreement is not to exceed 7.25 to 1.00 for any fiscal quarter ending September 30, 2015 through December 31, 2018; it then steps down not to exceed 7.00 to 1.00 for any fiscal quarter ending January 1, 2019 through June 30, 2019; it then steps down not to exceed 6.75 to 1.00 for any fiscal quarter ending July 1, 2019 through December 31, 2019; and it then steps down not to exceed 6.50 to 1.00 for any fiscal quarter ending January 1, 2020 and afterward. As of September 30, 2018 , this financial covenant was met with a ratio of 5.34 to 1.00. The second financial covenant is an EBITDA to Interest Expense ratio that 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 ratio, per the agreement, is to be not less than 2.10 to 1.00 for any fiscal quarter ending September 30, 2015 through December 31, 2018; it then steps up to be not less than 2.25 to 1.00 for any fiscal quarter ending January 1, 2019 and afterward. As of September 30, 2018 , this financial covenant was met with a ratio of 2.76 to 1.00. DPL’s secured revolving credit agreement and senior unsecured notes due 2019 also restricts dividend payments from DPL to AES, such that DPL cannot make dividend payments unless at the time of, and/or as a result of the distribution, (i) DPL’s leverage ratio does not exceed 0.67 to 1.00 and DPL’s interest coverage ratio is not less than 2.50 to 1.00 or, if such ratios are not within the parameters, (ii) DPL’s senior long-term debt rating from two of the three major credit rating agencies is at least investment grade. As of September 30, 2018 , DPL’s leverage ratio was at 1.51 to 1.00. As a result, as of September 30, 2018 , DPL was prohibited under each of these agreements from making a distribution to its shareholder or making a loan to any of its affiliates (other than its subsidiaries). DPL is also restricted from making dividend and tax sharing payments from DPL to AES per its 2017 ESP. This order restricts dividend payments from DPL to AES during the term of the 2017 ESP and restricts tax sharing payments from DPL to AES during the term of the DMR. DP&L’s unsecured revolving credit agreement and Bond Purchase and Covenants Agreement (financing document entered into in connection with the sale of $200.0 million of variable rate tax-exempt First Mortgage Bonds, dated as of August 1, 2015) 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. DP&L’s Total Debt to Total Capitalization ratio shall not be greater than 0.65 to 1.00. Except that, after Generation Separation and the twelve-month period following (October 1, 2017 to September 30, 2018) the ratio shall be a) increased to 0.75 to 1.00 or b) suspended if DP&L’s long-term indebtedness is less than or equal to $750.0 million . Additionally, the ratio shall be suspended any time after separation during which DP&L maintains a rating of BBB- (or in the case of Moody’s Investors Service, Inc. Baa3) or higher with a stable outlook from at least one of Fitch Investors Service Inc., Standard & Poor’s Ratings Services or Moody’s Investors Service, Inc. The Total Debt to Capitalization covenant is calculated as the sum of DP&L’s current and long-term portion of debt, divided by the total of DP&L’s net worth and total debt. As of September 30, 2018 , DP&L's ratings meet those requirements and this ratio is suspended for the quarter ended September 30, 2018 . The second financial covenant measures EBITDA to Interest Expense. The Total Consolidated EBITDA to Consolidated Interest Charges ratio is calculated, at the end of each fiscal quarter, by dividing consolidated EBITDA for the four prior fiscal quarters by the consolidated interest charges for the same period. The ratio, per the agreement, is to be not less than 2.50 to 1.00. This covenant was met with a ratio of 7.35 to 1.00 as of September 30, 2018 . As of September 30, 2018 , DPL and DP&L were in compliance with all debt covenants, including the financial covenants described above. DP&L does not have any meaningful restrictions in its debt financing documents prohibiting dividends to its parent, DPL. Substantially all property, plant & equipment of DP&L is subject to the lien of the mortgage securing DP&L’s First and Refunding Mortgage. |
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 2018 2017 Term loan - rates from 3.57% - 4.82% (a) and 4.01% - 4.60% (b) 2022 $ 437.2 $ 440.6 Tax-exempt First Mortgage Bonds - rates from 2.50% - 2.72% (a) and 1.52% - 1.92% (b) 2020 140.0 200.0 U.S. Government note 4.2% 2061 17.7 17.8 Unamortized deferred financing costs (6.7 ) (9.8 ) Unamortized long-term debt discounts (1.5 ) (2.0 ) Total long-term debt 586.7 646.6 Less: current portion (4.6 ) (4.6 ) Long-term debt, net of current portion $ 582.1 $ 642.0 (a) Range of interest rates for the nine months ended September 30, 2018 . (b) Range of interest rates for the year ended December 31, 2017 . 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, 2018 and December 31, 2017 , DP&L had $0.0 million and $10.0 million in outstanding borrowings on its line of credit, respectively. Significant transactions On March 30, 2018, DP&L commenced a redemption of $60.0 million of outstanding tax exempt First Mortgage Bonds due 2020 at par value (plus accrued and unpaid interest). These bonds were redeemed at par plus accrued interest on April 30, 2018 with cash on hand. On January 3, 2018, DP&L and its lenders amended DP&L's Term Loan B credit agreement. The amendment (a) modified the definition of "applicable rate", from 2.25% per annum to 1.00% per annum - in the case of the Base Rate, and from 3.25% per annum to 2.00% per annum - in the case of the Eurodollar Rate, and (b) modified a "call protection" provision which as modified stated that in the event the loan was repriced or any portion of the loans were prepaid, repaid, refinanced, substituted, or replaced on or prior July 3, 2018, such prepayment, acceleration, repayment, refinancing, substitution or replacement would have been made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. After July 3, 2018, any such transaction would occur at 100% of the principal amount of the then outstanding loans. There were no such transactions prior to July 3, 2018. Long-term debt covenants and restrictions DP&L’s unsecured revolving credit agreement and Bond Purchase and Covenants Agreement (financing document entered into in connection with the sale of $200.0 million of variable rate tax-exempt First Mortgage Bonds, dated as of August 1, 2015) 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. DP&L’s Total Debt to Total Capitalization ratio shall not be greater than 0.65 to 1.00. Except that, after Generation Separation and the twelve-month period following (October 1, 2017 to September 30, 2018) the ratio shall be a) increased to 0.75 to 1.00 or b) suspended if DP&L’s long-term indebtedness is less than or equal to $750.0 million . Additionally, the ratio shall be suspended any time after separation during which DP&L maintains a rating of BBB- (or in the case of Moody’s Investors Service, Inc. Baa3) or higher with a stable outlook from at least one of Fitch Investors Service Inc., Standard & Poor’s Ratings Services or Moody’s Investors Service, Inc. The Total Debt to Capitalization covenant is calculated as the sum of DP&L’s current and long-term portion of debt, divided by the total of DP&L’s net worth and total debt. As of September 30, 2018 , DP&L's ratings meet those requirements and this ratio is suspended for the quarter ended September 30, 2018 . The second financial covenant measures EBITDA to Interest Expense. The Total Consolidated EBITDA to Consolidated Interest Charges ratio is calculated, at the end of each fiscal quarter, by dividing consolidated EBITDA for the four prior fiscal quarters by the consolidated interest charges for the same period. The ratio, per the agreement, is to be not less than 2.50 to 1.00. This covenant was met with a ratio of 7.35 to 1.00 as of September 30, 2018 . As of September 30, 2018 , DP&L was in compliance with all debt covenants, including the financial covenants described above. DP&L does not have any meaningful restrictions in its debt financing documents prohibiting dividends to its parent, DPL. Substantially all property, plant & equipment of DP&L is subject to the lien of the mortgage securing DP&L’s First and Refunding Mortgage. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2018 | |
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, 2018 and 2017 . Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 DPL 15.7% 63.0% 10.9% 39.1% Income tax expense for the nine months ended September 30, 2018 and 2017 was calculated using the estimated annual effective income tax rates for 2018 and 2017 of 16.8% and 36.0% , 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 decrease in the estimated annual effective rate compared to the same period in 2017 is primarily due to the effects of the TCJA. The primary impact of the TCJA was lowering of the statutory corporate income tax rate to 21% from 35% effective January 1, 2018. The rate was further decreased by the change in estimated flow-through depreciation. These decreases were partially offset by the repeal of the manufacturer’s production deduction. For the nine months ended September 30, 2018 , DPL’s current period effective tax rate was lower than the estimated annual effective rate primarily due to discrete tax items relating to the Beckjord Facility transaction (see Note 14 – Dispositions ). Per the terms of DP&L's 2017 ESP, DPL will not make any tax-sharing payments to AES and AES will forgo collection of the payments during the term of the DMR. As such, during the nine months ended September 30, 2018 , DPL converted $30.2 million of accrued tax sharing liabilities with AES to additional equity investment in DPL . |
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, 2018 and 2017 . Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 DP&L 16.8% (4.5)% 16.2% 18.1% Income tax expense for the nine months ended September 30, 2018 and 2017 was calculated using the estimated annual effective income tax rates for 2018 and 2017 of 17.1% and 19.0% , 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 decrease in the estimated annual effective rate compared to the same period in 2017 is primarily due to the effects of the TCJA. The primary impact of the TCJA was lowering of the statutory corporate income tax rate to 21% from 35% effective January 1, 2018. The rate was further decreased by the change in estimated flow-through depreciation. These decreases were partially offset by the repeal of the manufacturer’s production deduction. For the nine months ended September 30, 2018 , DP&L’s current period effective tax rate was lower than the estimated annual effective rate primarily due to discrete tax items relating to the Beckjord Facility transaction (see Note 14 – Dispositions ). |
Benefit Plans
Benefit Plans | 9 Months Ended |
Sep. 30, 2018 | |
Entity Information [Line Items] | |
Pension and Postretirement Benefits | Benefit Plans DP&L sponsors a defined benefit pension plan for the 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 $7.8 million in employer contributions during the nine months ended September 30, 2018 and $5.0 million during the nine months ended September 30, 2017. 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 that 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, 2018 and 2017 was: Three months ended Nine months ended September 30, September 30, $ in millions 2018 2017 2018 2017 Service cost $ 1.5 $ 1.5 $ 4.5 $ 4.3 Interest cost 3.4 3.5 10.3 10.6 Expected return on plan assets (5.3 ) (5.7 ) (15.9 ) (17.1 ) Plan curtailment (a) — — — 4.1 Amortization of unrecognized: Prior service cost 0.3 0.2 0.8 0.8 Actuarial loss 1.6 1.3 4.8 4.0 Net periodic benefit cost $ 1.5 $ 0.8 $ 4.5 $ 6.7 (a) As a result of the decision to retire certain of DPL's coal-fired plants, we recognized a plan curtailment of $4.1 million in the first quarter of 2017. 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 $12.8 million at September 30, 2018 and $12.7 million at December 31, 2017 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 balance to be paid during Pension 2018 $ 7.1 2019 $ 28.2 2020 $ 27.9 2021 $ 27.6 2022 $ 27.3 2023 - 2027 $ 131.3 |
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 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 $7.8 million in employer contributions during the nine months ended September 30, 2018 and $5.0 million during the nine months ended September 30, 2017. 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 or for amounts billed to AES Ohio Generation for employees employed by AES Ohio Generation that 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, 2018 and 2017 was: Three months ended Nine months ended September 30, September 30, $ in millions 2018 2017 2018 2017 Service cost $ 1.5 $ 1.5 $ 4.5 $ 4.3 Interest cost 3.4 3.5 10.3 10.6 Expected return on plan assets (5.3 ) (5.7 ) (15.9 ) (17.1 ) Plan curtailment (a) — — — 5.6 Amortization of unrecognized: Prior service cost 0.4 0.3 1.1 1.1 Actuarial loss 2.4 2.1 7.1 6.6 Net periodic benefit cost $ 2.4 $ 1.7 $ 7.1 $ 11.1 (a) As a result of the decision to retire certain of DPL's coal-fired plants, we recognized a plan curtailment of $5.6 million in the first quarter of 2017. 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 $12.8 million at September 30, 2018 and $12.7 million at December 31, 2017 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 balance to be paid during Pension 2018 $ 7.1 2019 $ 28.2 2020 $ 27.9 2021 $ 27.6 2022 $ 27.3 2023 - 2027 $ 131.3 |
Shareholder's Equity
Shareholder's Equity | 9 Months Ended |
Sep. 30, 2018 | |
Class of Stock [Line Items] | |
Shareholder's Equity | Shareholder's Equity Capital Contributions from AES DP&L's approved six-year 2017 ESP restricts DPL from making dividend payments to its parent company, AES, during the term of the ESP, as well as making tax-sharing payments to AES during the term of the DMR. The 2017 ESP also requires that existing tax payments owed by DPL to AES, and similar tax payments that accrue during the term of the DMR, be converted into equity investments in DPL . For the nine months ended September 30, 2018 , AES made capital contributions of $30.2 million by converting the amount owed to it by DPL related to tax-sharing payments for current tax liabilities. |
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, 2018 . 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. As of September 30, 2018 , DP&L's equity ratio was 42% 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. The order also stated that, if DP&L cannot rebalance its capital structure by January 1, 2018, it should file an application explaining why it was unable to do so and the steps that it was taking to get its equity ratio back to at least 50 percent . DP&L has complied with the PUCO's order by filing such an application. After considering the payments noted in Note 7 – Long-term Debt , DP&L's long-term debt is $594.9 million . Capital Contribution and Returns of Capital During the nine months ended September 30, 2018 , DP&L received an $80.0 million capital contribution from its parent, DPL. In addition, DP&L made returns of capital payments of $43.8 million to DPL . During the nine months ended September 30, 2017 , DP&L made return of capital payments of $19.0 million to DPL . 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, 2018 | |
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, 2018 , DPL had $23.5 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 $0.0 million and $0.9 million at September 30, 2018 and December 31, 2017 , 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. DP&L , along with several non-affiliated energy companies party to the OVEC arrangement, receive and pay for OVEC capacity and energy and are responsible for OVEC debt obligations and other fixed costs in proportion to their power participation ratios under the arrangement, which for DP&L is the same as its equity ownership interest. At September 30, 2018 , DP&L could be responsible for the repayment of 4.9% , or $68.8 million , of $1,404.9 million OVEC debt obligations if they came due, comprised of both fixed and variable rate securities with maturities from 2022 to 2040 . OVEC could also seek additional contributions from DP&L to avoid a default in the event that other OVEC members defaulted on their respective OVEC obligations. One of the other OVEC members, with a 4.85% interest in OVEC, filed for bankruptcy protection and the bankruptcy court approved that member's rejection of the OVEC arrangement and its related obligations on July 31, 2018. We do not expect these events to have a material impact on our financial condition, results of operations or cash flows. 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, 2017 . 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 considering 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, 2018 , 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; • 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 several 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 current and previously owned coal-fired generation units. Some of these matters could have material adverse impacts on our results of operations, financial condition or cash flows. |
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. DP&L , along with several non-affiliated energy companies party to the OVEC arrangement, receive and pay for OVEC capacity and energy and are responsible for OVEC debt obligations and other fixed costs in proportion to their power participation ratios under the arrangement, which for DP&L is the same as its equity ownership interest. At September 30, 2018 , DP&L could be responsible for the repayment of 4.9% , or $68.8 million , of $1,404.9 million OVEC debt obligations if they came due, comprised of both fixed and variable rate securities with maturities from 2022 to 2040 . OVEC could also seek additional contributions from DP&L to avoid a default in the event that other OVEC members defaulted on their respective OVEC obligations. One of the other OVEC members, with a 4.85% interest in OVEC, filed for bankruptcy protection and the bankruptcy court approved that member's rejection of the OVEC arrangement and its related obligations on July 31, 2018. We do not expect these events to have a material impact on our financial condition, results of operations or cash flows. 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, 2017 . 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 considering 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, 2018 , 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; • 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. 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 several 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. |
Business Segments
Business Segments | 9 Months Ended |
Sep. 30, 2018 | |
Segment Reporting Information [Line Items] | |
Business Segments | Business Segments Beginning with the second quarter of 2018, DPL has presented the results of operations of Miami Fort Station, Zimmer Station, the Peaker Assets, Stuart Station, and Killen Station as discontinued operations as a group of components for all periods presented. For more information, see Note 15 – Discontinued Operations of Notes to DPL's Condensed Consolidated Financial Statements . AES Ohio Generation now only has operating activity coming from its undivided ownership interest in Conesville, which does not meet the thresholds to be a separate reportable operating segment. Because of this, DPL now manages its business through only one reportable operating segment, the Utility segment, which was previously referred to as the Transmission and Distribution 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 segment. The Utility segment is discussed further below. Utility Segment The Utility 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 524,000 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 Utility segment includes revenues and costs associated with our investment in OVEC and the historical results of DP&L’s Beckjord Facility, which was closed in 2014 and transferred to a third party in the first quarter of 2018, and Hutchings Coal generating facility, which was closed in 2013. These assets did not transfer to AES Ohio Generation as part of DP&L's Generation Separation on October 1, 2017. Thus, they are grouped within the Utility segment for segment reporting purposes. In addition, regulatory deferrals and collections, which include fuel deferrals in historical periods, are included in the Utility segment. 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. DPL's undivided interest in Conesville is now included within the "Other" column as it no longer meets the requirement for disclosure as a reportable operating segment, since the results of operations of the other Generation plants are now presented as discontinued operations. The accounting policies of the reportable segment are the same as those described in Note 1 – Overview and Summary of Significant Accounting Policies of our 2017 10-K. Intersegment sales, costs of sales and expenses are eliminated in consolidation. Certain shared and corporate costs are allocated between "Other" and the Utility reporting segment. The following tables present financial information for DPL’s Utility reportable business segment: $ in millions Utility Other (a) Adjustments and Eliminations DPL Consolidated Three months ended September 30, 2018 Revenues from external customers $ 198.5 $ 9.2 $ — $ 207.7 Intersegment revenues 0.2 0.7 (0.9 ) — Total revenues $ 198.7 $ 9.9 $ (0.9 ) $ 207.7 Depreciation and amortization $ 19.1 $ 0.6 $ — $ 19.7 Interest expense $ 5.8 $ 16.8 $ — $ 22.6 Income / (loss) from continuing operations before income tax $ 37.5 $ (17.7 ) $ — $ 19.8 Cash capital expenditures $ 20.5 $ 4.6 $ — $ 25.1 $ in millions Utility Other (a) Adjustments and Eliminations DPL Consolidated Three Months Ended September 30, 2017 Revenues from external customers $ 184.0 $ 7.7 $ — $ 191.7 Intersegment revenues 0.2 0.9 (1.1 ) — Total revenues $ 184.2 $ 8.6 $ (1.1 ) $ 191.7 Depreciation and amortization $ 19.6 $ 0.2 $ — $ 19.8 Interest expense $ 7.9 $ 19.9 $ — $ 27.8 Income / (loss) from continuing operations before income tax $ 20.0 $ (22.7 ) $ — $ (2.7 ) Cash capital expenditures $ 20.6 $ 8.6 $ — $ 29.2 $ in millions Utility Other (a) Adjustments and Eliminations DPL Consolidated Nine months ended September 30, 2018 Revenues from external customers $ 562.9 $ 28.6 $ — $ 591.5 Intersegment revenues 0.6 2.1 (2.7 ) — Total revenues $ 563.5 $ 30.7 $ (2.7 ) $ 591.5 Depreciation and amortization $ 56.5 $ 2.3 $ — $ 58.8 Interest expense $ 20.5 $ 53.9 $ — $ 74.4 Income / (loss) from continuing operations before income tax $ 73.9 $ (60.2 ) $ — $ 13.7 Cash capital expenditures $ 65.0 $ 10.8 $ — $ 75.8 At September 30, 2018 Total assets $ 1,678.4 $ 510.6 $ (403.5 ) $ 1,785.5 $ in millions Utility Other (a) Adjustments and Eliminations DPL Consolidated Nine months ended September 30, 2017 Revenues from external customers $ 541.7 $ 20.0 $ — $ 561.7 Intersegment revenues 0.8 3.6 (4.4 ) — Total revenues $ 542.5 $ 23.6 $ (4.4 ) $ 561.7 Depreciation and amortization $ 56.3 $ 0.6 $ — $ 56.9 Interest expense $ 23.5 $ 59.2 $ — $ 82.7 Income / (loss) from continuing operations before income tax $ 60.1 $ (72.9 ) $ — $ (12.8 ) Cash capital expenditures $ 66.3 $ 29.3 $ — $ 95.6 At December 31, 2017 Total assets $ 1,689.4 $ 743.0 $ (383.2 ) $ 2,049.2 (a) "Other" includes Cash capital expenditures and Total assets related to the assets of discontinued operations and held-for-sale businesses for all periods presented. |
Revenue (Notes)
Revenue (Notes) | 9 Months Ended |
Sep. 30, 2018 | |
Revenue from Contract with Customer [Text Block] | Revenue Revenue is primarily earned from retail and wholesale electricity sales and electricity transmission and distribution delivery services. Revenue is recognized upon transfer of control of promised goods or services to customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. Revenue is recorded net of any taxes assessed on and collected from customers, which are remitted to the governmental authorities. Retail Revenues – DP&L energy sales to utility customers are based on the reading of meters at the customer's location that occurs on a systematic basis throughout the month. DP&L sells electricity directly to end-users, such as homes and businesses, and bills customers directly. Performance obligations for retail revenues are satisfied over time as energy is delivered and the same method is used to measure progress, and thus the performance obligation meets the criteria to be considered a series. This includes both the promise to transfer energy and other distribution and/or transmission services. In exchange for the exclusive right to sell or distribute electricity in our service area, DP&L is subject to rate regulation by federal and state regulators. This regulation sets the framework for the prices (“tariffs”) that DP&L is allowed to charge customers for electricity. Since tariffs are approved by the regulator, the price that DP&L has the right to bill corresponds directly with the value to the customer of DP&L's performance completed in each period. Therefore, revenue under these contracts is recognized using an output method measured by the MWhs delivered each month at the approved tariff. In cases where a customer chooses to receive generation services from a CRES provider, the price for generation services is negotiated between the customer and the CRES provider, and DP&L only serves as a billing agent if requested by the CRES provider. As such, DP&L recognizes the consolidated billing arrangement with the CRES provider on a net basis, thereby recording no revenue for the generation component. Retail revenue from these customers would only be related to transmission and distribution charges. Wholesale Revenues – All of the power produced from DPL's ownership interest in Conesville and DP&L's share of the power produced at OVEC is sold to PJM, and these are classified as Wholesale revenues. In PJM, the sale of energy as wholesale revenue is separately identifiable from participation in the Capacity Market and the two products can be transacted independently of one another. Therefore, wholesale revenues are a separate contract with a single performance obligation. Revenue is recorded based on the quantities (MWh) delivered in each hour during each month at the spot price, making the contract effectively “month-to-month”. RTO Revenues – Compensation for use of DP&L’s transmission assets and compensation for various ancillary services are classified as RTO revenues. As DP&L owns and operates transmission lines in southwest Ohio within PJM, demand charges collected from network customers by PJM are then allocated to the appropriate transmission owners (i.e. DP&L ) and recognized as transmission revenues . Additionally, as an owner of generation and transmission assets within PJM, DPL is compensated for various ancillary services; such as reactive supply, regulation services, scheduling reserves, operating reserves, spinning/synchronized reserves as well as congestion credits that are provided to PJM via these assets. Transmission revenues have a single performance obligation, as transmission services represent a distinct service. Additionally, as the performance obligation is satisfied over time and the same method is used to measure progress, the performance obligation meets the criteria to be considered a series. The price that DP&L as the transmission operator has the right to bill (received as a credit from PJM) corresponds directly with the value to the customer of performance completed in each period, as the price paid is the allocation of the tariff rate (as approved by the regulator) charged to network participants. Ancillary service revenues have a single performance obligation, as they represent a distinct service. Additionally, as the performance obligation is satisfied over time and the same method is used to measure progress, the performance obligation meets the criteria to be considered a series. The price that DPL has the right to bill corresponds directly with the value to the customer of performance completed in each period as the price paid is at the market price or allocation of the tariff rate (which was approved by the regulator) charged to network participants. RTO Capacity Revenues – Compensation received from PJM for making installed generation capacity available to satisfy system integrity and reliability requirements is classified as RTO capacity revenues. Capacity, which is a stand-ready obligation to deliver energy when called upon by the RTO, is measured using MWs. If plant availability exceeds a contractual target, we may receive a performance bonus payment, or if the plant availability falls below a guaranteed minimum target, we may incur a non-availability penalty. Such bonuses or penalties represent a form of variable consideration and are estimated and recognized when it is probable that there will not be a significant reversal and therefore the transaction price is recognized on an output basis based on the MWs. RTO capacity revenues have a single performance obligation, as capacity is a distinct good. Additionally, as the performance obligation is satisfied over time and the same method is used to measure progress, the performance obligation meets the criteria to be considered a series. The capacity price is set through a competitive auction process established by PJM. DPL's revenue from contracts with customers was $195.1 million and $560.1 million for the three and nine months ended September 30, 2018 , respectively. The following table presents our revenue from contracts with customers and other revenue by segment for the three and nine months ended September 30, 2018 : $ in millions Utility Other Adjustments and Eliminations Total Three Months Ended September 30, 2018 Retail Revenue Retail revenue from contracts with customers $ 168.4 $ — $ (0.4 ) $ 168.0 Other retail revenues (a) 12.6 — — 12.6 Wholesale Revenue Wholesale revenue from contracts with customers 4.9 5.6 — 10.5 RTO revenue 10.8 (0.1 ) — 10.7 RTO capacity revenues 2.0 1.7 — 3.7 Other revenues from contracts with customers (b) — 2.2 — 2.2 Other revenues — 0.5 (0.5 ) — Total revenues $ 198.7 $ 9.9 $ (0.9 ) $ 207.7 Nine months ended September 30, 2018 Retail Revenue Retail revenue from contracts with customers $ 469.3 $ — $ (0.8 ) $ 468.5 Other retail revenues (a) 31.4 — — 31.4 Wholesale Revenue Wholesale revenue from contracts with customers 24.6 16.7 — 41.3 RTO revenue 32.4 0.1 — 32.5 RTO capacity revenues 5.8 4.7 — 10.5 Other revenues from contracts with customers (b) — 7.3 — 7.3 Other revenues — 1.9 (1.9 ) — Total revenues $ 563.5 $ 30.7 $ (2.7 ) $ 591.5 (a) Other retail revenue primarily includes alternative revenue programs not accounted for under FASC 606. Accounts receivable balances associated with these revenues were $6.0 million as of September 30, 2018 . (b) Other revenues from contracts with customers primarily includes revenues for various services provided by Miami Valley Lighting. The balances of receivables from contracts with customers were $65.4 million and $63.0 million as of September 30, 2018 and January 1, 2018, respectively. Payment terms for all receivables from contracts with customers are typically within 30 days. We have elected to apply the optional disclosure exemptions under FASC 606. Therefore, we have no disclosures pertaining to revenue expected to be recognized in any future year related to remaining performance obligations, as we exclude contracts with an original length of one year or less, contracts for which we recognize revenue based on the amount we have the right to invoice for services performed, and variable consideration allocated entirely to a wholly unsatisfied performance obligation when the consideration relates specifically to our efforts to satisfy the performance obligation and depicts the amount to which we expect to be entitled for DPL. |
Subsidiaries [Member] | |
Revenue from Contract with Customer [Text Block] | Revenue Revenue is primarily earned from retail and wholesale electricity sales and electricity transmission and distribution delivery services. Revenue is recognized upon transfer of control of promised goods or services to customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. Revenue is recorded net of any taxes assessed on and collected from customers, which are remitted to the governmental authorities. Retail Revenues – DP&L energy sales to utility customers are based on the reading of meters at the customer's location that occurs on a systematic basis throughout the month. DP&L sells electricity directly to end-users, such as homes and businesses, and bills customers directly. Performance obligations for retail revenues are satisfied over time as energy is delivered and the same method is used to measure progress, and thus the performance obligation meets the criteria to be considered a series. This includes both the promise to transfer energy and other distribution and/or transmission services. In exchange for the exclusive right to sell or distribute electricity in our service area, DP&L is subject to rate regulation by federal and state regulators. This regulation sets the framework for the prices (“tariffs”) that DP&L is allowed to charge customers for electricity. Since tariffs are approved by the regulator, the price that DP&L has the right to bill corresponds directly with the value to the customer of DP&L's performance completed in each period. Therefore, revenue under these contracts is recognized using an output method measured by the MWhs delivered each month at the approved tariff. In cases where a customer chooses to receive generation services from a CRES provider, the price for generation services is negotiated between the customer and the CRES provider, and DP&L only serves as a billing agent if requested by the CRES provider. As such, DP&L recognizes the consolidated billing arrangement with the CRES provider on a net basis, thereby recording no revenue for the generation component. Retail revenue from these customers would only be related to transmission and distribution charges. Wholesale Revenues – DP&L's share of the power produced at OVEC is sold to PJM, and these are classified as Wholesale revenues. In PJM, the sale of energy as wholesale revenue is separately identifiable from participation in the Capacity Market and the two products can be transacted independently of one another. Therefore, wholesale revenues are a separate contract with a single performance obligation. Revenue is recorded based on the quantities (MWh) delivered in each hour during each month at the spot price, making the contract effectively “month-to-month”. RTO Revenues – Compensation for use of DP&L’s transmission assets are classified as RTO revenues. As DP&L owns and operates transmission lines in southwest Ohio within PJM, demand charges collected from network customers by PJM are then allocated to the appropriate transmission owners (i.e. DP&L ) and recognized as transmission revenues . Additionally, DP&L , through its ownership interest in OVEC, is compensated for various generation related ancillary services, such as reactive supply, regulation services, scheduling reserves, operating reserves, spinning/synchronized reserves as well congestion credits that may be provided to PJM via these assets. Transmission revenues have a single performance obligation, as transmission services represent a distinct service. Additionally, as the performance obligation is satisfied over time and the same method is used to measure progress, the performance obligation meets the criteria to be considered a series. The price that DP&L as the transmission operator has the right to bill (received as a credit from PJM) corresponds directly with the value to the customer of performance completed in each period, as the price paid is the allocation of the tariff rate (as approved by the regulator) charged to network participants. RTO Capacity Revenues – Compensation received from PJM for making installed generation capacity available to satisfy system integrity and reliability requirements is classified as RTO capacity revenues. Capacity, which is a stand-ready obligation to deliver energy when called upon by the RTO, is measured using MWs. If plant availability exceeds a contractual target, we may receive a performance bonus payment, or if the plant availability falls below a guaranteed minimum target, we may incur a non-availability penalty. Such bonuses or penalties represent a form of variable consideration and are estimated and recognized when it is probable that there will not be a significant reversal and therefore the transaction price is recognized on an output basis based on the MWs. RTO capacity revenues have a single performance obligation, as capacity is a distinct good. Additionally, as the performance obligation is satisfied over time and the same method is used to measure progress, the performance obligation meets the criteria to be considered a series. The capacity price is set through a competitive auction process established by PJM. DP&L's revenue from contracts with customers was $186.1 million and $532.1 million for the three and nine months ended September 30, 2018 , respectively. The following table presents our revenue from contracts with customers and other revenue for the three and nine months ended September 30, 2018 : Three Nine months ended months ended $ in millions September 30, 2018 September 30, 2018 Retail Revenue Retail revenue from contracts with customers $ 168.4 $ 469.3 Other retail revenues (a) 12.6 31.4 Wholesale Revenue Wholesale revenue from contracts with customers 4.9 24.6 RTO revenue 10.8 32.4 RTO capacity revenues 2.0 5.8 Total revenues $ 198.7 $ 563.5 (a) Other retail revenue primarily includes alternative revenue programs not accounted for under FASC 606. Accounts receivable balances associated with these revenues were $6.0 million as of September 30, 2018 . The balances of receivables from contracts with customers were $64.0 million and $62.1 million as of September 30, 2018 and January 1, 2018, respectively. Payment terms for all receivables from contracts with customers are typically within 30 days. We have elected to apply the optional disclosure exemptions under FASC 606. Therefore, we have no disclosures pertaining to revenue expected to be recognized in any future year related to remaining performance obligations, as we exclude contracts with an original length of one year or less, contracts for which we recognize revenue based on the amount we have the right to invoice for services performed, and variable consideration allocated entirely to a wholly unsatisfied performance obligation when the consideration relates specifically to our efforts to satisfy the performance obligation and depicts the amount to which we expect to be entitled for DP&L. |
Dispositions (Notes)
Dispositions (Notes) | 9 Months Ended |
Sep. 30, 2018 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Discontinued Operations | Dispositions Beckjord Facility – On February 26, 2018, DP&L and its co-owners of the retired Beckjord Facility agreed to transfer their interests in the retired Facility to a third party, including their obligations to remediate the Facility and its site, and the transfer occurred on that same date. As a result, DPL recognized a loss on the transfer of $11.7 million and made cash expenditures of $14.5 million , inclusive of cash expenditures for the transfer charges. The Beckjord Facility was retired in 2014, and, as such, the income / (loss) from continuing operations before income tax related to the Beckjord Facility was immaterial for the nine months ended September 30, 2018 and for the three and nine months ended September 30, 2017 , excluding the loss on transfer noted above. Prior to the transfer, the Beckjord Facility was included in the Utility segment. Discontinued Operations On December 8, 2017, DPL and AES Ohio Generation completed the sale transaction of their entire undivided interest in the Miami Fort Station and the Zimmer Station. On March 27, 2018, DPL and AES Ohio Generation completed the sale transaction of the Peaker assets to Kimura Power, LLC, and this transaction resulted in a loss on sale of $1.9 million for the nine months ended September 30, 2018. Further, on May 31, 2018, DPL and AES Ohio Generation retired the Stuart Station coal-fired and diesel-fired generating units and the Killen Station coal-fired generating unit and combustion turbine, as planned. Consequently, in the second quarter of 2018, DPL determined that the disposal of this group of components as a whole represents a strategic shift by us to exit generation, and, as such, qualifies to be presented as discontinued operations. Therefore, the results of operations and financial position for this group of components were reported as such in the Condensed Consolidated Statements of Operations and Condensed Consolidated Balance Sheets for all periods presented. The following table summarizes the major categories of assets and liabilities at the dates indicated: $ in millions September 30, 2018 December 31, 2017 Restricted cash $ — $ 1.5 Accounts receivable, net 6.2 37.9 Inventories 0.1 19.4 Taxes applicable to subsequent years 0.1 7.4 Other prepayments and current assets 3.1 17.4 Property, plant & equipment, net 1.8 233.9 Intangible assets, net 6.2 5.5 Other deferred assets — 0.6 Total assets of the disposal group classified as assets of discontinued operations and held-for-sale businesses in the balance sheets $ 17.5 $ 323.6 Accounts payable $ 7.7 $ 25.1 Accrued taxes 5.1 6.3 Other current liabilities 7.1 30.0 Long-term debt (a) — 0.3 Deferred taxes (b) (14.1 ) (17.4 ) Taxes payable — 7.4 Pension, retiree and other benefits 9.7 10.6 Asset retirement obligations 117.2 116.6 Other deferred credits 5.8 5.9 Total liabilities of the disposal group classified as liabilities of discontinued operations and held-for-sale businesses in the balance sheets $ 138.5 $ 184.8 (a) Long-term debt relates to capital leases. (b) Deferred taxes represent the tax asset position of the discontinued group of components, which were netted with liabilities on DPL prior to classification as discontinued operations. The following table summarizes the revenues, cost of revenues, operating and other expenses and income tax of discontinued operations for the periods indicated: Three months ended Nine months ended September 30, September 30, $ in millions 2018 2017 2018 2017 Revenues $ 15.6 $ 132.1 $ 141.8 $ 384.2 Cost of revenues (6.8 ) (63.3 ) (67.4 ) (198.5 ) Operating and other expenses (3.8 ) (38.0 ) (37.7 ) (152.9 ) Fixed-asset impairment — — — (66.4 ) Income / (loss) from discontinued operations 5.0 30.8 36.7 (33.6 ) Gain / (loss) from disposal of discontinued operations 0.3 — (1.6 ) — Income tax expense / (benefit) from discontinued operations 1.0 7.9 5.9 (12.1 ) Net income / (loss) from discontinued operations $ 4.3 $ 22.9 $ 29.2 $ (21.5 ) 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 $(7.2) million and $27.1 million for the three months ended September 30, 2018 and 2017 , respectively, and $51.9 million and $38.5 million for the nine months ended September 30, 2018 and 2017 , respectively. Cash flows from investing activities for discontinued operations were $0.0 million and $4.1 million for the three months ended September 30, 2018 and 2017 , respectively, and $233.8 million and $(13.9) million for the nine months ended September 30, 2018 and 2017 , respectively. The PUCO authorized DP&L to maintain long-term debt of $750.0 million or 75% of its rate base, whichever is greater, until January 1, 2018, or to file an application to explain why it would not achieve those metrics. Accordingly, $750.0 million of debt and the pro rata interest expense associated with that debt were allocated to continuing operations. All remaining interest expense was included in the discontinued operations above. The interest expense included in discontinued operations was $0.0 million and $0.2 million for the three and nine months ended September 30, 2017 , respectively. |
Subsidiaries [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Discontinued Operations | Generation Separation On October 1, 2017, DP&L completed the transfer of its generating plants, the real property on which the generation plants and generation-related assets are sited, step-up transformers and other transmission plant assets used to interconnect with the electric transmission grid, fuel inventory, equipment inventory and spare parts, working capital, and other miscellaneous generation-related assets and liabilities to AES Ohio Generation. The transfer was completed as a contribution through an asset contribution agreement to a wholly-owned subsidiary of DP&L after which DP&L then distributed all of the outstanding equity in the subsidiary to DPL and then the subsidiary was merged into AES Ohio Generation. DP&L's generation business met the criteria to be classified as a discontinued operation, and, accordingly, the historical activity has been reclassified to "Discontinued operations" in the Statements of Operations for the three and nine months ended September 30, 2017 . The following table summarizes the revenues, cost of revenues, operating and other expenses and income tax of discontinued operations for the period indicated: Three months ended Nine months ended September 30, 2017 September 30, 2017 Revenues $ 121.5 $ 358.4 Cost of revenues (62.0 ) (191.6 ) Operating and other expenses (38.3 ) (156.8 ) Fixed-asset impairment — (66.3 ) Income / (loss) from discontinued operations 21.2 (56.3 ) Income tax expense / (benefit) from discontinued operations 12.8 (10.7 ) Net income / (loss) from discontinued operations $ 8.4 $ (45.6 ) Cash flows related to discontinued operations are included in the Statements of Cash Flows. Cash flows from operating activities for discontinued operations were $8.8 million and $16.6 million for the three and nine months ended September 30, 2017 , respectively. Cash flows from investing activities for discontinued operations were $7.1 million and $(3.5) million for the three and nine months ended September 30, 2017 , respectively. The PUCO authorized DP&L to maintain long-term debt of $750.0 million or 75% of its rate base, whichever is greater, until January 1, 2018, or to file an application to explain why it would not achieve those metrics. Accordingly, $750.0 million of debt and the pro rata interest expense associated with that debt were allocated to continuing operations. All remaining interest expense was included in the discontinued operations above. The interest expense included in discontinued operations was $0.0 million and $0.2 million for the three and nine months ended September 30, 2017 , respectively. Dispositions Beckjord Facility – On February 26, 2018, DP&L and its co-owners of the retired Beckjord Facility agreed to transfer their interests in the retired Facility to a third party, including their obligations to remediate the Facility and its site, and the transfer occurred on that same date. As a result, DP&L recognized a loss on the transfer of $12.4 million and made cash expenditures of $14.5 million , inclusive of cash expenditures for the transfer charges. The Beckjord Facility was retired in 2014, and, as such, the income / (loss) from continuing operations before income tax related to the Beckjord Facility was immaterial for the nine months ended September 30, 2018 and for the three and nine months ended September 30, 2017 , excluding the loss on transfer noted above. |
Generation Separation (Notes)
Generation Separation (Notes) | 9 Months Ended |
Sep. 30, 2018 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Discontinued Operations | Dispositions Beckjord Facility – On February 26, 2018, DP&L and its co-owners of the retired Beckjord Facility agreed to transfer their interests in the retired Facility to a third party, including their obligations to remediate the Facility and its site, and the transfer occurred on that same date. As a result, DPL recognized a loss on the transfer of $11.7 million and made cash expenditures of $14.5 million , inclusive of cash expenditures for the transfer charges. The Beckjord Facility was retired in 2014, and, as such, the income / (loss) from continuing operations before income tax related to the Beckjord Facility was immaterial for the nine months ended September 30, 2018 and for the three and nine months ended September 30, 2017 , excluding the loss on transfer noted above. Prior to the transfer, the Beckjord Facility was included in the Utility segment. Discontinued Operations On December 8, 2017, DPL and AES Ohio Generation completed the sale transaction of their entire undivided interest in the Miami Fort Station and the Zimmer Station. On March 27, 2018, DPL and AES Ohio Generation completed the sale transaction of the Peaker assets to Kimura Power, LLC, and this transaction resulted in a loss on sale of $1.9 million for the nine months ended September 30, 2018. Further, on May 31, 2018, DPL and AES Ohio Generation retired the Stuart Station coal-fired and diesel-fired generating units and the Killen Station coal-fired generating unit and combustion turbine, as planned. Consequently, in the second quarter of 2018, DPL determined that the disposal of this group of components as a whole represents a strategic shift by us to exit generation, and, as such, qualifies to be presented as discontinued operations. Therefore, the results of operations and financial position for this group of components were reported as such in the Condensed Consolidated Statements of Operations and Condensed Consolidated Balance Sheets for all periods presented. The following table summarizes the major categories of assets and liabilities at the dates indicated: $ in millions September 30, 2018 December 31, 2017 Restricted cash $ — $ 1.5 Accounts receivable, net 6.2 37.9 Inventories 0.1 19.4 Taxes applicable to subsequent years 0.1 7.4 Other prepayments and current assets 3.1 17.4 Property, plant & equipment, net 1.8 233.9 Intangible assets, net 6.2 5.5 Other deferred assets — 0.6 Total assets of the disposal group classified as assets of discontinued operations and held-for-sale businesses in the balance sheets $ 17.5 $ 323.6 Accounts payable $ 7.7 $ 25.1 Accrued taxes 5.1 6.3 Other current liabilities 7.1 30.0 Long-term debt (a) — 0.3 Deferred taxes (b) (14.1 ) (17.4 ) Taxes payable — 7.4 Pension, retiree and other benefits 9.7 10.6 Asset retirement obligations 117.2 116.6 Other deferred credits 5.8 5.9 Total liabilities of the disposal group classified as liabilities of discontinued operations and held-for-sale businesses in the balance sheets $ 138.5 $ 184.8 (a) Long-term debt relates to capital leases. (b) Deferred taxes represent the tax asset position of the discontinued group of components, which were netted with liabilities on DPL prior to classification as discontinued operations. The following table summarizes the revenues, cost of revenues, operating and other expenses and income tax of discontinued operations for the periods indicated: Three months ended Nine months ended September 30, September 30, $ in millions 2018 2017 2018 2017 Revenues $ 15.6 $ 132.1 $ 141.8 $ 384.2 Cost of revenues (6.8 ) (63.3 ) (67.4 ) (198.5 ) Operating and other expenses (3.8 ) (38.0 ) (37.7 ) (152.9 ) Fixed-asset impairment — — — (66.4 ) Income / (loss) from discontinued operations 5.0 30.8 36.7 (33.6 ) Gain / (loss) from disposal of discontinued operations 0.3 — (1.6 ) — Income tax expense / (benefit) from discontinued operations 1.0 7.9 5.9 (12.1 ) Net income / (loss) from discontinued operations $ 4.3 $ 22.9 $ 29.2 $ (21.5 ) 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 $(7.2) million and $27.1 million for the three months ended September 30, 2018 and 2017 , respectively, and $51.9 million and $38.5 million for the nine months ended September 30, 2018 and 2017 , respectively. Cash flows from investing activities for discontinued operations were $0.0 million and $4.1 million for the three months ended September 30, 2018 and 2017 , respectively, and $233.8 million and $(13.9) million for the nine months ended September 30, 2018 and 2017 , respectively. The PUCO authorized DP&L to maintain long-term debt of $750.0 million or 75% of its rate base, whichever is greater, until January 1, 2018, or to file an application to explain why it would not achieve those metrics. Accordingly, $750.0 million of debt and the pro rata interest expense associated with that debt were allocated to continuing operations. All remaining interest expense was included in the discontinued operations above. The interest expense included in discontinued operations was $0.0 million and $0.2 million for the three and nine months ended September 30, 2017 , respectively. |
Subsidiaries [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Discontinued Operations | Generation Separation On October 1, 2017, DP&L completed the transfer of its generating plants, the real property on which the generation plants and generation-related assets are sited, step-up transformers and other transmission plant assets used to interconnect with the electric transmission grid, fuel inventory, equipment inventory and spare parts, working capital, and other miscellaneous generation-related assets and liabilities to AES Ohio Generation. The transfer was completed as a contribution through an asset contribution agreement to a wholly-owned subsidiary of DP&L after which DP&L then distributed all of the outstanding equity in the subsidiary to DPL and then the subsidiary was merged into AES Ohio Generation. DP&L's generation business met the criteria to be classified as a discontinued operation, and, accordingly, the historical activity has been reclassified to "Discontinued operations" in the Statements of Operations for the three and nine months ended September 30, 2017 . The following table summarizes the revenues, cost of revenues, operating and other expenses and income tax of discontinued operations for the period indicated: Three months ended Nine months ended September 30, 2017 September 30, 2017 Revenues $ 121.5 $ 358.4 Cost of revenues (62.0 ) (191.6 ) Operating and other expenses (38.3 ) (156.8 ) Fixed-asset impairment — (66.3 ) Income / (loss) from discontinued operations 21.2 (56.3 ) Income tax expense / (benefit) from discontinued operations 12.8 (10.7 ) Net income / (loss) from discontinued operations $ 8.4 $ (45.6 ) Cash flows related to discontinued operations are included in the Statements of Cash Flows. Cash flows from operating activities for discontinued operations were $8.8 million and $16.6 million for the three and nine months ended September 30, 2017 , respectively. Cash flows from investing activities for discontinued operations were $7.1 million and $(3.5) million for the three and nine months ended September 30, 2017 , respectively. The PUCO authorized DP&L to maintain long-term debt of $750.0 million or 75% of its rate base, whichever is greater, until January 1, 2018, or to file an application to explain why it would not achieve those metrics. Accordingly, $750.0 million of debt and the pro rata interest expense associated with that debt were allocated to continuing operations. All remaining interest expense was included in the discontinued operations above. The interest expense included in discontinued operations was $0.0 million and $0.2 million for the three and nine months ended September 30, 2017 , respectively. Dispositions Beckjord Facility – On February 26, 2018, DP&L and its co-owners of the retired Beckjord Facility agreed to transfer their interests in the retired Facility to a third party, including their obligations to remediate the Facility and its site, and the transfer occurred on that same date. As a result, DP&L recognized a loss on the transfer of $12.4 million and made cash expenditures of $14.5 million , inclusive of cash expenditures for the transfer charges. The Beckjord Facility was retired in 2014, and, as such, the income / (loss) from continuing operations before income tax related to the Beckjord Facility was immaterial for the nine months ended September 30, 2018 and for the three and nine months ended September 30, 2017 , excluding the loss on transfer noted above. |
Discontinued Operations
Discontinued Operations | 9 Months Ended |
Sep. 30, 2018 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Discontinued Operations | Dispositions Beckjord Facility – On February 26, 2018, DP&L and its co-owners of the retired Beckjord Facility agreed to transfer their interests in the retired Facility to a third party, including their obligations to remediate the Facility and its site, and the transfer occurred on that same date. As a result, DPL recognized a loss on the transfer of $11.7 million and made cash expenditures of $14.5 million , inclusive of cash expenditures for the transfer charges. The Beckjord Facility was retired in 2014, and, as such, the income / (loss) from continuing operations before income tax related to the Beckjord Facility was immaterial for the nine months ended September 30, 2018 and for the three and nine months ended September 30, 2017 , excluding the loss on transfer noted above. Prior to the transfer, the Beckjord Facility was included in the Utility segment. Discontinued Operations On December 8, 2017, DPL and AES Ohio Generation completed the sale transaction of their entire undivided interest in the Miami Fort Station and the Zimmer Station. On March 27, 2018, DPL and AES Ohio Generation completed the sale transaction of the Peaker assets to Kimura Power, LLC, and this transaction resulted in a loss on sale of $1.9 million for the nine months ended September 30, 2018. Further, on May 31, 2018, DPL and AES Ohio Generation retired the Stuart Station coal-fired and diesel-fired generating units and the Killen Station coal-fired generating unit and combustion turbine, as planned. Consequently, in the second quarter of 2018, DPL determined that the disposal of this group of components as a whole represents a strategic shift by us to exit generation, and, as such, qualifies to be presented as discontinued operations. Therefore, the results of operations and financial position for this group of components were reported as such in the Condensed Consolidated Statements of Operations and Condensed Consolidated Balance Sheets for all periods presented. The following table summarizes the major categories of assets and liabilities at the dates indicated: $ in millions September 30, 2018 December 31, 2017 Restricted cash $ — $ 1.5 Accounts receivable, net 6.2 37.9 Inventories 0.1 19.4 Taxes applicable to subsequent years 0.1 7.4 Other prepayments and current assets 3.1 17.4 Property, plant & equipment, net 1.8 233.9 Intangible assets, net 6.2 5.5 Other deferred assets — 0.6 Total assets of the disposal group classified as assets of discontinued operations and held-for-sale businesses in the balance sheets $ 17.5 $ 323.6 Accounts payable $ 7.7 $ 25.1 Accrued taxes 5.1 6.3 Other current liabilities 7.1 30.0 Long-term debt (a) — 0.3 Deferred taxes (b) (14.1 ) (17.4 ) Taxes payable — 7.4 Pension, retiree and other benefits 9.7 10.6 Asset retirement obligations 117.2 116.6 Other deferred credits 5.8 5.9 Total liabilities of the disposal group classified as liabilities of discontinued operations and held-for-sale businesses in the balance sheets $ 138.5 $ 184.8 (a) Long-term debt relates to capital leases. (b) Deferred taxes represent the tax asset position of the discontinued group of components, which were netted with liabilities on DPL prior to classification as discontinued operations. The following table summarizes the revenues, cost of revenues, operating and other expenses and income tax of discontinued operations for the periods indicated: Three months ended Nine months ended September 30, September 30, $ in millions 2018 2017 2018 2017 Revenues $ 15.6 $ 132.1 $ 141.8 $ 384.2 Cost of revenues (6.8 ) (63.3 ) (67.4 ) (198.5 ) Operating and other expenses (3.8 ) (38.0 ) (37.7 ) (152.9 ) Fixed-asset impairment — — — (66.4 ) Income / (loss) from discontinued operations 5.0 30.8 36.7 (33.6 ) Gain / (loss) from disposal of discontinued operations 0.3 — (1.6 ) — Income tax expense / (benefit) from discontinued operations 1.0 7.9 5.9 (12.1 ) Net income / (loss) from discontinued operations $ 4.3 $ 22.9 $ 29.2 $ (21.5 ) 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 $(7.2) million and $27.1 million for the three months ended September 30, 2018 and 2017 , respectively, and $51.9 million and $38.5 million for the nine months ended September 30, 2018 and 2017 , respectively. Cash flows from investing activities for discontinued operations were $0.0 million and $4.1 million for the three months ended September 30, 2018 and 2017 , respectively, and $233.8 million and $(13.9) million for the nine months ended September 30, 2018 and 2017 , respectively. The PUCO authorized DP&L to maintain long-term debt of $750.0 million or 75% of its rate base, whichever is greater, until January 1, 2018, or to file an application to explain why it would not achieve those metrics. Accordingly, $750.0 million of debt and the pro rata interest expense associated with that debt were allocated to continuing operations. All remaining interest expense was included in the discontinued operations above. The interest expense included in discontinued operations was $0.0 million and $0.2 million for the three and nine months ended September 30, 2017 , respectively. |
Held for Sale (Notes)
Held for Sale (Notes) | 9 Months Ended |
Sep. 30, 2018 | |
Long Lived Assets Held-for-sale [Line Items] | |
Discontinued Operations | Dispositions Beckjord Facility – On February 26, 2018, DP&L and its co-owners of the retired Beckjord Facility agreed to transfer their interests in the retired Facility to a third party, including their obligations to remediate the Facility and its site, and the transfer occurred on that same date. As a result, DPL recognized a loss on the transfer of $11.7 million and made cash expenditures of $14.5 million , inclusive of cash expenditures for the transfer charges. The Beckjord Facility was retired in 2014, and, as such, the income / (loss) from continuing operations before income tax related to the Beckjord Facility was immaterial for the nine months ended September 30, 2018 and for the three and nine months ended September 30, 2017 , excluding the loss on transfer noted above. Prior to the transfer, the Beckjord Facility was included in the Utility segment. Discontinued Operations On December 8, 2017, DPL and AES Ohio Generation completed the sale transaction of their entire undivided interest in the Miami Fort Station and the Zimmer Station. On March 27, 2018, DPL and AES Ohio Generation completed the sale transaction of the Peaker assets to Kimura Power, LLC, and this transaction resulted in a loss on sale of $1.9 million for the nine months ended September 30, 2018. Further, on May 31, 2018, DPL and AES Ohio Generation retired the Stuart Station coal-fired and diesel-fired generating units and the Killen Station coal-fired generating unit and combustion turbine, as planned. Consequently, in the second quarter of 2018, DPL determined that the disposal of this group of components as a whole represents a strategic shift by us to exit generation, and, as such, qualifies to be presented as discontinued operations. Therefore, the results of operations and financial position for this group of components were reported as such in the Condensed Consolidated Statements of Operations and Condensed Consolidated Balance Sheets for all periods presented. The following table summarizes the major categories of assets and liabilities at the dates indicated: $ in millions September 30, 2018 December 31, 2017 Restricted cash $ — $ 1.5 Accounts receivable, net 6.2 37.9 Inventories 0.1 19.4 Taxes applicable to subsequent years 0.1 7.4 Other prepayments and current assets 3.1 17.4 Property, plant & equipment, net 1.8 233.9 Intangible assets, net 6.2 5.5 Other deferred assets — 0.6 Total assets of the disposal group classified as assets of discontinued operations and held-for-sale businesses in the balance sheets $ 17.5 $ 323.6 Accounts payable $ 7.7 $ 25.1 Accrued taxes 5.1 6.3 Other current liabilities 7.1 30.0 Long-term debt (a) — 0.3 Deferred taxes (b) (14.1 ) (17.4 ) Taxes payable — 7.4 Pension, retiree and other benefits 9.7 10.6 Asset retirement obligations 117.2 116.6 Other deferred credits 5.8 5.9 Total liabilities of the disposal group classified as liabilities of discontinued operations and held-for-sale businesses in the balance sheets $ 138.5 $ 184.8 (a) Long-term debt relates to capital leases. (b) Deferred taxes represent the tax asset position of the discontinued group of components, which were netted with liabilities on DPL prior to classification as discontinued operations. The following table summarizes the revenues, cost of revenues, operating and other expenses and income tax of discontinued operations for the periods indicated: Three months ended Nine months ended September 30, September 30, $ in millions 2018 2017 2018 2017 Revenues $ 15.6 $ 132.1 $ 141.8 $ 384.2 Cost of revenues (6.8 ) (63.3 ) (67.4 ) (198.5 ) Operating and other expenses (3.8 ) (38.0 ) (37.7 ) (152.9 ) Fixed-asset impairment — — — (66.4 ) Income / (loss) from discontinued operations 5.0 30.8 36.7 (33.6 ) Gain / (loss) from disposal of discontinued operations 0.3 — (1.6 ) — Income tax expense / (benefit) from discontinued operations 1.0 7.9 5.9 (12.1 ) Net income / (loss) from discontinued operations $ 4.3 $ 22.9 $ 29.2 $ (21.5 ) 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 $(7.2) million and $27.1 million for the three months ended September 30, 2018 and 2017 , respectively, and $51.9 million and $38.5 million for the nine months ended September 30, 2018 and 2017 , respectively. Cash flows from investing activities for discontinued operations were $0.0 million and $4.1 million for the three months ended September 30, 2018 and 2017 , respectively, and $233.8 million and $(13.9) million for the nine months ended September 30, 2018 and 2017 , respectively. The PUCO authorized DP&L to maintain long-term debt of $750.0 million or 75% of its rate base, whichever is greater, until January 1, 2018, or to file an application to explain why it would not achieve those metrics. Accordingly, $750.0 million of debt and the pro rata interest expense associated with that debt were allocated to continuing operations. All remaining interest expense was included in the discontinued operations above. The interest expense included in discontinued operations was $0.0 million and $0.2 million for the three and nine months ended September 30, 2017 , respectively. |
Subsidiaries [Member] | |
Long Lived Assets Held-for-sale [Line Items] | |
Discontinued Operations | Generation Separation On October 1, 2017, DP&L completed the transfer of its generating plants, the real property on which the generation plants and generation-related assets are sited, step-up transformers and other transmission plant assets used to interconnect with the electric transmission grid, fuel inventory, equipment inventory and spare parts, working capital, and other miscellaneous generation-related assets and liabilities to AES Ohio Generation. The transfer was completed as a contribution through an asset contribution agreement to a wholly-owned subsidiary of DP&L after which DP&L then distributed all of the outstanding equity in the subsidiary to DPL and then the subsidiary was merged into AES Ohio Generation. DP&L's generation business met the criteria to be classified as a discontinued operation, and, accordingly, the historical activity has been reclassified to "Discontinued operations" in the Statements of Operations for the three and nine months ended September 30, 2017 . The following table summarizes the revenues, cost of revenues, operating and other expenses and income tax of discontinued operations for the period indicated: Three months ended Nine months ended September 30, 2017 September 30, 2017 Revenues $ 121.5 $ 358.4 Cost of revenues (62.0 ) (191.6 ) Operating and other expenses (38.3 ) (156.8 ) Fixed-asset impairment — (66.3 ) Income / (loss) from discontinued operations 21.2 (56.3 ) Income tax expense / (benefit) from discontinued operations 12.8 (10.7 ) Net income / (loss) from discontinued operations $ 8.4 $ (45.6 ) Cash flows related to discontinued operations are included in the Statements of Cash Flows. Cash flows from operating activities for discontinued operations were $8.8 million and $16.6 million for the three and nine months ended September 30, 2017 , respectively. Cash flows from investing activities for discontinued operations were $7.1 million and $(3.5) million for the three and nine months ended September 30, 2017 , respectively. The PUCO authorized DP&L to maintain long-term debt of $750.0 million or 75% of its rate base, whichever is greater, until January 1, 2018, or to file an application to explain why it would not achieve those metrics. Accordingly, $750.0 million of debt and the pro rata interest expense associated with that debt were allocated to continuing operations. All remaining interest expense was included in the discontinued operations above. The interest expense included in discontinued operations was $0.0 million and $0.2 million for the three and nine months ended September 30, 2017 , respectively. Dispositions Beckjord Facility – On February 26, 2018, DP&L and its co-owners of the retired Beckjord Facility agreed to transfer their interests in the retired Facility to a third party, including their obligations to remediate the Facility and its site, and the transfer occurred on that same date. As a result, DP&L recognized a loss on the transfer of $12.4 million and made cash expenditures of $14.5 million , inclusive of cash expenditures for the transfer charges. The Beckjord Facility was retired in 2014, and, as such, the income / (loss) from continuing operations before income tax related to the Beckjord Facility was immaterial for the nine months ended September 30, 2018 and for the three and nine months ended September 30, 2017 , excluding the loss on transfer noted above. |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Policy) | 9 Months Ended |
Sep. 30, 2018 | |
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 one reportable segment: the Utility segment. See Note 12 – Business Segments for more information relating to this reportable segment. 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 , a wholly-owned subsidiary of DPL , 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 524,000 customers located in West Central Ohio. Additionally, DP&L provides retail SSO electric service to residential, commercial, industrial and governmental customers in a 6,000 - square mile area of West Central Ohio. Through September 30, 2017, DP&L owned undivided interests in multiple coal-fired and peaking electric generating facilities as well as numerous transmission facilities. On 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. 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. Through September 30, 2017, DP&L sold its generated energy and capacity into the wholesale market. After September 30, 2017, DP&L continues to sell its proportional share of energy and capacity from its investment in OVEC. DPL’s other significant subsidiaries include MVIC and AES Ohio Generation. MVIC is our captive insurance company that provides insurance services to DPL and our other subsidiaries. AES Ohio Generation owns an undivided interest in Conesville. AES Ohio Generation sells all of its energy and capacity into the wholesale market. DPL's subsidiaries are all wholly-owned. 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 674 people as of September 30, 2018 , of which 648 were employed by DP&L. Approximately 53% of all DPL employees are under a collective bargaining agreement, which expires October 31, 2020 . |
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, 2018 , DPL has an undivided ownership interest in one coal-fired generating facility, which is included in the financial statements at the lower of depreciated historical cost or fair value, if impaired. Operating revenues and expenses of this facility 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, 2017 . 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, 2018 ; our results of operations for the three and nine months ended September 30, 2018 and 2017 and our cash flows for the nine months ended September 30, 2018 and 2017 . Unless otherwise noted, all adjustments are normal and recurring in nature. Due to various factors, interim results for the three and nine months ended September 30, 2018 may not be indicative of our results that will be realized for the full year ending December 31, 2018 . 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: recognition of revenue including unbilled revenues, the carrying value of property, plant and equipment; 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, 2018 and 2017 were $13.8 million and $13.0 million, respectively. The amounts of such taxes collected for the nine months ended September 30, 2018 and 2017 were $39.2 million and $36.9 million, respectively. |
Recently Issued Accounting Standards | New accounting pronouncements adopted in 2018 – The following table provides a brief description of recently adopted accounting pronouncements that had an impact on our consolidated financial statements. Accounting pronouncements not listed below were assessed and determined to be either not applicable or did not have a material impact on our consolidated financial statements. ASU Number and Name Description Date of Adoption Effect on the financial statements upon adoption 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 costs associated with defined benefit plans and updates the guidance so that only the service cost component will be eligible for capitalization. January 1, 2018 The adoption of this standard resulted in a $(1.6 ) million reclassification of non-service pension and other postretirement benefit costs (credits) from Operating expense to Other income / (expense) - net for the nine months ended September 30, 2017. 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 The adoption of this standard resulted in a $27.0 million decrease in investing activities for the nine months ended September 30, 2017. 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities The standard significantly revises an entity’s accounting related to (1) classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. It also amends certain disclosures of financial instruments. January 1, 2018 We adopted this standard January 1, 2018. At that date, we transferred $1.6 million ($1.0 million net of tax) of unrealized gains from AOCI to Retained Earnings. 2014-09, 2015-14, 2016-08, 2016-10, 2016-12, 2016-20, 2017-05, 2017-13 Revenue from Contracts with Customers (Topic 606) See " Adoption of FASC Topic 606, Revenue from Contracts with Customers " below. January 1, 2018 See impact upon adoption of the standard below. Adoption of FASC Topic 606, "Revenue from Contracts with Customers" On January 1, 2018, we adopted ASU 2014-09, "Revenue from Contracts with Customers", and its subsequent corresponding updates ("FASC 606"). The core principle of this standard 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. We applied the modified retrospective method of adoption to those contracts which were not completed as of January 1, 2018. Results for reporting periods beginning January 1, 2018 are presented under FASC 606, while prior period amounts were not adjusted and continue to be reported in accordance with our historic accounting under the previous revenue recognition standard, FASC 605. For contracts that were modified before January 1, 2018, we have not retrospectively restated the contracts for modifications. We instead reflected the aggregate effect of all modifications when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price. We do not expect the adoption of the new revenue standard to have a material impact to our net income on an ongoing basis. There was no cumulative effect to our January 1, 2018 Condensed Consolidated Balance Sheet resulting from the adoption of FASC 606. See additional disclosures under FASC 606 in Note 13 – Revenue . New Accounting Pronouncements Issued But Not Yet Effective – The following table provides a brief description of recent accounting pronouncements that could have a material impact on our consolidated financial statements. Accounting pronouncements not listed below were assessed and determined to be either not applicable or are expected to have no material impact on our consolidated financial statements. ASU Number and Name Description Date of Adoption Effect on the financial statements upon adoption 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract This standard aligns the accounting for implementation costs incurred for a cloud computing arrangement that is a service with the requirement for capitalizing implementation costs associated with developing or obtaining internal-use software. January 1, 2020. Early adoption is permitted. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2018-02, Income Statement — Reporting Comprehensive Income (Topic 220), Reclassification of Certain Tax Effects from AOCI This amendment allows a reclassification of the stranded tax effects resulting from the implementation of the Tax Cuts and Jobs Act from AOCI to retained earnings. Because this amendment only relates to the reclassification of the income tax effects of the Tax Cuts and Jobs Act, the underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. January 1, 2019. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2017-12, Derivatives and Hedging (Topic 815): Targeted improvements to Accounting for Hedging Activities The standard updates the hedge accounting model to expand the ability to hedge nonfinancial and financial risk components, reduce complexity, and ease certain documentation and assessment requirements. When facts and circumstances are the same as at the previous quantitative test, a subsequent quantitative effectiveness test is not required. The standard also eliminates the requirement to separately measure and report hedge ineffectiveness. For cash flow hedges, this means that the entire change in the fair value of a hedging instrument will be recorded in other comprehensive income and amounts deferred will be reclassified to earnings 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 consolidated financial statements. 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 for 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. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The standard updates the impairment model for financial assets measured at amortized cost. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking "expected loss" model that generally will result in the earlier recognition of allowance for losses. For available-for-sale debt securities with unrealized losses, entities will measure credit losses as it is done today, except that the losses will be recognized as an allowance rather than a reduction in the amortized cost of the securities. January 1, 2020. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2016-02, 2018-01, 2018-10, 2018-11 Leases (Topic 842) See " 2016-02, 2018-01, 2018-10, 2018-11, Leases (Topic 842) " below. January 1, 2019. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. See below for the evaluation of the impact of its adoption. 2016-02, 2018-01, 2018-10, 2018-11 Leases (Topic 842) ASU 2016-02 and its subsequent corresponding updates will require lessees to recognize assets and liabilities for most leases and recognize expenses in a manner similar to the current accounting method. For lessors, the guidance modifies the lease classification criteria and the accounting for sales-type and direct financing leases. The guidance also eliminates the current real estate-specific provisions. The standard must be adopted using a modified retrospective approach at the beginning of the earliest comparative period presented in the financial statements (January 1, 2017). The FASB proposed amending the standard to give another option for transition. The proposed transition method would allow entities to not apply the new lease standard in the comparative periods presented in their financial statements in the year of adoption. Under the proposed transition method, the entity would apply the transition provisions on January 1, 2019 (i.e., the effective date). At transition, lessees and lessors are permitted to make an election to apply a package of practical expedients that allow them not to reassess: (1) whether any expired or existing contracts are or contain leases, (2) lease classification for any expired or existing leases, and (3) whether initial direct costs for any expired or existing leases qualify for capitalization under FASC 842. These three practical expedients must be elected as a package and must be consistently applied to all leases. Furthermore, entities are also permitted to make an election to use hindsight when determining lease term and lessees can elect to use hindsight when assessing the impairment of right-of-use assets. We have established a task force focused on the identification of contracts that would be under the scope of the new standard and on the assessment and measurement of the right-of-use asset and related liability. Additionally, the implementation team has been working on the configuration of a lease accounting system that will support the implementation and the subsequent accounting. The implementation team is in the process of evaluating changes to our business processes, systems and controls to support recognition and disclosure under the new standard. As we have preliminarily concluded that at transition we would be using the package of practical expedients, the main impact expected as of the effective date is the recognition of the right to use asset and the related liability in the financial statements for all those contracts that contain a lease and for which we are the lessee. However, income statement presentation and the expense recognition pattern are not expected to change. Under FASC 842, it is expected that fewer contracts will contain a lease. Under the new rules, all operating leases will be recorded as right-of-use assets with an off-setting lease liability. |
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 524,000 customers located in West Central Ohio. Additionally, DP&L provides retail SSO electric service to residential, commercial, industrial and governmental customers in a 6,000 - square mile area of West Central Ohio. Through September 30, 2017, DP&L owned undivided interests in multiple coal-fired and peaking electric generating facilities as well as numerous transmission facilities. On 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. As a result of Generation Separation, DP&L now only has one reportable segment, the Utility segment. In addition to DP&L's electric transmission and distribution businesses, the Utility segment includes revenues and costs associated with DP&L's investment in OVEC and the historical results of DP&L’s Beckjord and Hutchings Coal generating facilities, which have either been closed or sold. 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. Through September 30, 2017, DP&L sold its generated energy and capacity into the wholesale market. After September 30, 2017, DP&L continues to sell its proportional share of energy and capacity from its investment in OVEC. DP&L is a subsidiary of DPL. The terms “we,” “us,” “our” and “ours” are used to refer to DP&L . 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 648 people as of September 30, 2018 . Approximately 55% of DP&L employees are under a collective bargaining agreement, which expires October 31, 2020 . |
Financial Statement Presentation | Financial Statement Presentation DP&L does not have any subsidiaries. Certain immaterial amounts from prior periods have been reclassified to conform to the current period presentation. 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, 2017 . 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, 2018 ; our results of operations for the three and nine months ended September 30, 2018 and 2017 and our cash flows for the nine months ended September 30, 2018 and 2017 . Unless otherwise noted, all adjustments are normal and recurring in nature. Due to various factors, interim results for the three and nine months ended September 30, 2018 may not be indicative of our results that will be realized for the full year ending December 31, 2018 . 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: recognition of revenue including unbilled revenues, the carrying value of property, plant and equipment; 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, 2018 and 2017 were $13.8 million and $13.0 million, respectively. The amounts of such taxes collected for the nine months ended September 30, 2018 and 2017 were $39.2 million and $36.9 million, respectively. |
Recently Issued Accounting Standards | New accounting pronouncements adopted in 2018 – The following table provides a brief description of recently adopted accounting pronouncements that had an impact on our financial statements. Accounting pronouncements not listed below were assessed and determined to be either not applicable or did not have a material impact on our financial statements. ASU Number and Name Description Date of Adoption Effect on the financial statements upon adoption 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 costs associated with defined benefit plans and updates the guidance so that only the service cost component will be eligible for capitalization. January 1, 2018 The adoption of this standard resulted in a $1.2 million reclassification of non-service pension and other postretirement benefit costs (credits) from Operating expense to Other income / (expense) - net for the nine months ended September 30, 2017. 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 The adoption of this standard resulted in a $27.0 million decrease in investing activities for the nine months ended September 30, 2017. 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities The standard significantly revises an entity’s accounting related to (1) classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. It also amends certain disclosures of financial instruments. January 1, 2018 We adopted this standard January 1, 2018. At that date, we transferred $1.7 million ($1.1 million net of tax) of unrealized gains from AOCI to Retained Earnings. 2014-09, 2015-14, 2016-08, 2016-10, 2016-12, 2016-20, 2017-05, 2017-13 Revenue from Contracts with Customers (Topic 606) See " Adoption of FASC Topic 606, Revenue from Contracts with Customers " below. January 1, 2018 See impact upon adoption of the standard below. Adoption of FASC Topic 606, "Revenue from Contracts with Customers" On January 1, 2018, we adopted ASU 2014-09, "Revenue from Contracts with Customers", and its subsequent corresponding updates ("FASC 606"). The core principle of this standard 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. We applied the modified retrospective method of adoption to those contracts which were not completed as of January 1, 2018. Results for reporting periods beginning January 1, 2018 are presented under FASC 606, while prior period amounts were not adjusted and continue to be reported in accordance with our historic accounting under the previous revenue recognition standard, FASC 605. For contracts that were modified before January 1, 2018, we have not retrospectively restated the contracts for modifications. We instead reflected the aggregate effect of all modifications when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price. We do not expect the adoption of the new revenue standard to have a material impact to our net income on an ongoing basis. There was no cumulative effect to our January 1, 2018 Condensed Consolidated Balance Sheet resulting from the adoption of FASC 606. See additional disclosures under FASC 606 in Note 12 – Revenue . New Accounting Pronouncements Issued But Not Yet Effective – The following table provides a brief description of recent accounting pronouncements that could have a material impact on our consolidated financial statements. Accounting pronouncements not listed below were assessed and determined to be either not applicable or are expected to have no material impact on our financial statements. ASU Number and Name Description Date of Adoption Effect on the financial statements upon adoption 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract This standard aligns the accounting for implementation costs incurred for a cloud computing arrangement that is a service with the requirement for capitalizing implementation costs associated with developing or obtaining internal-use software. January 1, 2020. Early adoption is permitted. We are currently evaluating the impact of adopting the standard on our financial statements. 2018-02, Income Statement — Reporting Comprehensive Income (Topic 220), Reclassification of Certain Tax Effects from AOCI This amendment allows a reclassification of the stranded tax effects resulting from the implementation of the Tax Cuts and Jobs Act from AOCI to retained earnings. Because this amendment only relates to the reclassification of the income tax effects of the Tax Cuts and Jobs Act, the underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. January 1, 2019. We are currently evaluating the impact of adopting the standard on our financial statements. 2017-12, Derivatives and Hedging (Topic 815): Targeted improvements to Accounting for Hedging Activities The standard updates the hedge accounting model to expand the ability to hedge nonfinancial and financial risk components, reduce complexity, and ease certain documentation and assessment requirements. When facts and circumstances are the same as at the previous quantitative test, a subsequent quantitative effectiveness test is not required. The standard also eliminates the requirement to separately measure and report hedge ineffectiveness. For cash flow hedges, this means that the entire change in the fair value of a hedging instrument will be recorded in other comprehensive income and amounts deferred will be reclassified to earnings 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. 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 for 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. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The standard updates the impairment model for financial assets measured at amortized cost. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking "expected loss" model that generally will result in the earlier recognition of allowance for losses. For available-for-sale debt securities with unrealized losses, entities will measure credit losses as it is done today, except that the losses will be recognized as an allowance rather than a reduction in the amortized cost of the securities. January 1, 2020. We are currently evaluating the impact of adopting the standard on our financial statements. ASU Number and Name Description Date of Adoption Effect on the financial statements upon adoption 2016-02, 2018-01, 2018-10, 2018-11 Leases (Topic 842) See " 2016-02, 2018-01, 2018-10, 2018-11, Leases (Topic 842) " below. January 1, 2019. We are currently evaluating the impact of adopting the standard on our financial statements. See below for the evaluation of the impact of its adoption. 2016-02, 2018-01, 2018-10, 2018-11 Leases (Topic 842) ASU 2016-02 and its subsequent corresponding updates will require lessees to recognize assets and liabilities for most leases and recognize expenses in a manner similar to the current accounting method. For lessors, the guidance modifies the lease classification criteria and the accounting for sales-type and direct financing leases. The guidance also eliminates the current real estate-specific provisions. The standard must be adopted using a modified retrospective approach at the beginning of the earliest comparative period presented in the financial statements (January 1, 2017). The FASB proposed amending the standard to give another option for transition. The proposed transition method would allow entities to not apply the new lease standard in the comparative periods presented in their financial statements in the year of adoption. Under the proposed transition method, the entity would apply the transition provisions on January 1, 2019 (i.e., the effective date). At transition, lessees and lessors are permitted to make an election to apply a package of practical expedients that allow them not to reassess: (1) whether any expired or existing contracts are or contain leases, (2) lease classification for any expired or existing leases, and (3) whether initial direct costs for any expired or existing leases qualify for capitalization under FASC 842. These three practical expedients must be elected as a package and must be consistently applied to all leases. Furthermore, entities are also permitted to make an election to use hindsight when determining lease term and lessees can elect to use hindsight when assessing the impairment of right-of-use assets. We have established a task force focused on the identification of contracts that would be under the scope of the new standard and on the assessment and measurement of the right-of-use asset and related liability. Additionally, the implementation team has been working on the configuration of a lease accounting system that will support the implementation and the subsequent accounting. The implementation team is in the process of evaluating changes to our business processes, systems and controls to support recognition and disclosure under the new standard. As we have preliminarily concluded that at transition we would be using the package of practical expedients, the main impact expected as of the effective date is the recognition of the right to use asset and the related liability in the financial statements for all those contracts that contain a lease and for which we are the lessee. However, income statement presentation and the expense recognition pattern are not expected to change. Under FASC 842, it is expected that fewer contracts will contain a lease. Under the new rules, all operating leases will be recorded as right-of-use assets with an off-setting lease liability. |
Generation Separation (Policies
Generation Separation (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Discontinued Operations, Policy [Policy Text Block] | The PUCO authorized DP&L to maintain long-term debt of $750.0 million or 75% of its rate base, whichever is greater, until January 1, 2018, or to file an application to explain why it would not achieve those metrics. Accordingly, $750.0 million of debt and the pro rata interest expense associated with that debt were allocated to continuing operations. All remaining interest expense was included in the discontinued operations above. The interest expense included in discontinued operations was $0.0 million and $0.2 million for the three and nine months ended September 30, 2017 , respectively. |
Subsidiaries [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Discontinued Operations, Policy [Policy Text Block] | The PUCO authorized DP&L to maintain long-term debt of $750.0 million or 75% of its rate base, whichever is greater, until January 1, 2018, or to file an application to explain why it would not achieve those metrics. Accordingly, $750.0 million of debt and the pro rata interest expense associated with that debt were allocated to continuing operations. All remaining interest expense was included in the discontinued operations above. The interest expense included in discontinued operations was $0.0 million and $0.2 million for the three and nine months ended September 30, 2017 , respectively. |
Discontinued Operations Discont
Discontinued Operations Discontinued Operations (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Discontinued Operations, Policy [Policy Text Block] | The PUCO authorized DP&L to maintain long-term debt of $750.0 million or 75% of its rate base, whichever is greater, until January 1, 2018, or to file an application to explain why it would not achieve those metrics. Accordingly, $750.0 million of debt and the pro rata interest expense associated with that debt were allocated to continuing operations. All remaining interest expense was included in the discontinued operations above. The interest expense included in discontinued operations was $0.0 million and $0.2 million for the three and nine months ended September 30, 2017 , respectively. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Related Party Transaction [Line Items] | |
Schedule of Cash and Cash Equivalents [Table Text Block] | The following table provides a summary of cash, cash equivalents, and restricted cash amounts reported on the Condensed Consolidated Balance Sheet that reconcile to the total of such amounts as shown on the Condensed Consolidated Statements of Cash Flows: $ in millions September 30, 2018 December 31, 2017 Cash and cash equivalents $ 65.4 $ 24.5 Restricted cash 22.0 0.4 Cash, Cash Equivalents, and Restricted Cash, End of Period $ 87.4 $ 24.9 |
Schedule of New Accounting Pronouncements | – The following table provides a brief description of recently adopted accounting pronouncements that had an impact on our consolidated financial statements. Accounting pronouncements not listed below were assessed and determined to be either not applicable or did not have a material impact on our consolidated financial statements. ASU Number and Name Description Date of Adoption Effect on the financial statements upon adoption 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 costs associated with defined benefit plans and updates the guidance so that only the service cost component will be eligible for capitalization. January 1, 2018 The adoption of this standard resulted in a $(1.6 ) million reclassification of non-service pension and other postretirement benefit costs (credits) from Operating expense to Other income / (expense) - net for the nine months ended September 30, 2017. 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 The adoption of this standard resulted in a $27.0 million decrease in investing activities for the nine months ended September 30, 2017. 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities The standard significantly revises an entity’s accounting related to (1) classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. It also amends certain disclosures of financial instruments. January 1, 2018 We adopted this standard January 1, 2018. At that date, we transferred $1.6 million ($1.0 million net of tax) of unrealized gains from AOCI to Retained Earnings. 2014-09, 2015-14, 2016-08, 2016-10, 2016-12, 2016-20, 2017-05, 2017-13 Revenue from Contracts with Customers (Topic 606) See " Adoption of FASC Topic 606, Revenue from Contracts with Customers " below. January 1, 2018 See impact upon adoption of the standard below. Adoption of FASC Topic 606, "Revenue from Contracts with Customers" On January 1, 2018, we adopted ASU 2014-09, "Revenue from Contracts with Customers", and its subsequent corresponding updates ("FASC 606"). The core principle of this standard 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. We applied the modified retrospective method of adoption to those contracts which were not completed as of January 1, 2018. Results for reporting periods beginning January 1, 2018 are presented under FASC 606, while prior period amounts were not adjusted and continue to be reported in accordance with our historic accounting under the previous revenue recognition standard, FASC 605. For contracts that were modified before January 1, 2018, we have not retrospectively restated the contracts for modifications. We instead reflected the aggregate effect of all modifications when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price. We do not expect the adoption of the new revenue standard to have a material impact to our net income on an ongoing basis. There was no cumulative effect to our January 1, 2018 Condensed Consolidated Balance Sheet resulting from the adoption of FASC 606. See additional disclosures under FASC 606 in Note 13 – Revenue . New Accounting Pronouncements Issued But Not Yet Effective – The following table provides a brief description of recent accounting pronouncements that could have a material impact on our consolidated financial statements. Accounting pronouncements not listed below were assessed and determined to be either not applicable or are expected to have no material impact on our consolidated financial statements. ASU Number and Name Description Date of Adoption Effect on the financial statements upon adoption 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract This standard aligns the accounting for implementation costs incurred for a cloud computing arrangement that is a service with the requirement for capitalizing implementation costs associated with developing or obtaining internal-use software. January 1, 2020. Early adoption is permitted. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2018-02, Income Statement — Reporting Comprehensive Income (Topic 220), Reclassification of Certain Tax Effects from AOCI This amendment allows a reclassification of the stranded tax effects resulting from the implementation of the Tax Cuts and Jobs Act from AOCI to retained earnings. Because this amendment only relates to the reclassification of the income tax effects of the Tax Cuts and Jobs Act, the underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. January 1, 2019. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2017-12, Derivatives and Hedging (Topic 815): Targeted improvements to Accounting for Hedging Activities The standard updates the hedge accounting model to expand the ability to hedge nonfinancial and financial risk components, reduce complexity, and ease certain documentation and assessment requirements. When facts and circumstances are the same as at the previous quantitative test, a subsequent quantitative effectiveness test is not required. The standard also eliminates the requirement to separately measure and report hedge ineffectiveness. For cash flow hedges, this means that the entire change in the fair value of a hedging instrument will be recorded in other comprehensive income and amounts deferred will be reclassified to earnings 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 consolidated financial statements. 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 for 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. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The standard updates the impairment model for financial assets measured at amortized cost. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking "expected loss" model that generally will result in the earlier recognition of allowance for losses. For available-for-sale debt securities with unrealized losses, entities will measure credit losses as it is done today, except that the losses will be recognized as an allowance rather than a reduction in the amortized cost of the securities. January 1, 2020. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. 2016-02, 2018-01, 2018-10, 2018-11 Leases (Topic 842) See " 2016-02, 2018-01, 2018-10, 2018-11, Leases (Topic 842) " below. January 1, 2019. We are currently evaluating the impact of adopting the standard on our consolidated financial statements. See below for the evaluation of the impact of its adoption. |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Related Party Transaction [Line Items] | |
Schedule of Cash and Cash Equivalents [Table Text Block] | The following table provides a summary of cash, cash equivalents, and restricted cash amounts reported on the Condensed Balance Sheet that reconcile to the total of such amounts as shown on the Condensed Statements of Cash Flows: $ in millions September 30, 2018 December 31, 2017 Cash and cash equivalents $ 10.7 $ 5.2 Restricted cash 2.0 0.4 Cash, Cash Equivalents, and Restricted Cash, End of Period $ 12.7 $ 5.6 |
Supplemental Financial Inform_2
Supplemental Financial Information (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Supplemental Financial Information [Line Items] | |
Schedule of Supplemental Financial Information | September 30, 2018 and December 31, 2017 : September 30, December 31, $ in millions 2018 2017 Accounts receivable, net: Unbilled revenue $ 11.0 $ 18.0 Customer receivables 60.4 45.2 Due from PJM transmission enhancement settlement (a) 21.7 — Other 3.5 2.5 Provision for uncollectible accounts (1.1 ) (1.1 ) Total accounts receivable, net $ 95.5 $ 64.6 Inventories, at average cost: Fuel and limestone $ 2.0 $ 4.1 Materials and supplies 8.1 8.1 Other 0.6 0.5 Total inventories, at average cost $ 10.7 $ 12.7 (a) - See Note 3 – Regulatory Matters for more information on this item. |
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, 2018 and 2017 are as follows: Details about Accumulated Other Comprehensive Income / (Loss) components Affected line item in the Condensed Consolidated Statements of Operations Three months ended September 30, Nine months ended September 30, $ in millions 2018 2017 2018 2017 Gains and losses on equity securities (Note 5): Other income $ — $ — $ — $ (0.1 ) Retained earnings — — (1.6 ) — Tax benefit — — 0.6 — Net of income taxes — — (1.0 ) (0.1 ) Gains and losses on cash flow hedges (Note 6): Interest expense (0.3 ) (0.2 ) (0.9 ) (0.8 ) Tax benefit 0.1 0.1 0.3 0.3 Net of income taxes (0.2 ) (0.1 ) (0.6 ) (0.5 ) Gain / (loss) from discontinued operations — (3.5 ) 4.3 (8.5 ) Tax benefit / (expense) from discontinued operations — 1.2 (1.5 ) 3.0 Net of income taxes — (2.3 ) 2.8 (5.5 ) Amortization of defined benefit pension items (Note 9): Other income 0.2 — 0.5 1.4 Tax expense (0.1 ) — (0.1 ) (0.5 ) Net of income taxes 0.1 — 0.4 0.9 Total reclassifications for the period, net of income taxes $ (0.1 ) $ (2.4 ) $ 1.6 $ (5.2 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income / (Loss) during the nine months ended September 30, 2018 are as follows: $ in millions Gains / (losses) on equity securities Gains / (losses) on cash flow hedges Change in unfunded pension obligation Total Balance at January 1, 2018 $ 1.0 $ 14.7 $ (14.9 ) $ 0.8 Other comprehensive income before reclassifications — 0.4 — 0.4 Amounts reclassified from AOCI to earnings — 2.2 0.4 2.6 Amounts reclassified from AOCI to Retained earnings (1.0 ) — — (1.0 ) Net current period other comprehensive income / (loss) (1.0 ) 2.6 0.4 2.0 Balance at September 30, 2018 $ — $ 17.3 $ (14.5 ) $ 2.8 |
Schedule of Other Operating Cost and Expense, by Component [Table Text Block] | Operating expenses - other Operating expenses - other generally includes gains or losses on asset sales or dispositions, insurance recoveries, gains or losses on the sale of businesses and other expense or income from miscellaneous transactions. The components are summarized as follows: Three months ended Nine months ended September 30, September 30, $ in millions 2018 2017 2018 2017 Loss on disposal and sale of businesses $ — $ — $ 11.7 $ — Fixed-asset impairment 1.6 — 2.8 — Other — (0.4 ) 0.1 (0.4 ) Net other expense / (income) $ 1.6 $ (0.4 ) $ 14.6 $ (0.4 ) |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Supplemental Financial Information [Line Items] | |
Schedule of Supplemental Financial Information | Accounts receivable and Inventories are as follows at September 30, 2018 and December 31, 2017 : September 30, December 31, $ in millions 2018 2017 Accounts receivable, net: Unbilled revenue $ 11.0 $ 18.0 Customer receivables 59.0 44.2 Amounts due from affiliates 9.0 3.7 Due from PJM transmission enhancement settlement (a) 21.7 — Other 3.4 6.0 Provision for uncollectible accounts (1.1 ) (1.1 ) Total accounts receivable, net $ 103.0 $ 70.8 Inventories, at average cost: Materials and supplies $ 6.9 $ 6.9 Other 0.6 0.4 Total inventories, at average cost $ 7.5 $ 7.3 (a) - See Note 3 – Regulatory Matters for more information on this item. |
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, 2018 and 2017 are as follows: Details about Accumulated Other Comprehensive Income / (Loss) components Affected line item in the Condensed Statements of Operations Three months ended September 30, Nine months ended September 30, $ in millions 2018 2017 2018 2017 Gains and losses on equity securities activity (Note 5): Other income $ — $ — $ — $ (0.1 ) Retained earnings — — (1.7 ) — Tax benefit — — 0.6 — Net of income taxes — — (1.1 ) (0.1 ) Gains and losses on cash flow hedges (Note 6): Interest expense (0.3 ) (0.3 ) (1.1 ) (0.8 ) Tax benefit from continuing operations 0.1 0.1 0.6 0.3 Net of income taxes (0.2 ) (0.2 ) (0.5 ) (0.5 ) Gain from discontinued operations — (3.5 ) — (8.5 ) Tax expense from discontinued operations — 1.3 — 3.0 Net of income taxes — (2.2 ) — (5.5 ) Amortization of defined benefit pension items (Note 9): Other expense, net 1.1 1.1 3.2 5.9 Tax expense (0.2 ) (0.4 ) (0.7 ) (2.1 ) Net of income taxes 0.9 0.7 2.5 3.8 Total reclassifications for the period, net of income taxes $ 0.7 $ (1.7 ) $ 0.9 $ (2.3 ) |
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, 2018 are as follows: $ in millions Gains / (losses) on equity securities Gains / (losses) on cash flow hedges Change in unfunded pension obligation Total Balance at January 1, 2018 $ 1.1 $ 1.4 $ (38.7 ) $ (36.2 ) Other comprehensive income before reclassifications — 0.5 — 0.5 Amounts reclassified from AOCI to earnings — (0.5 ) 2.5 2.0 Amounts reclassified from AOCI to Retained earnings (1.1 ) — — (1.1 ) Net current period other comprehensive income / (loss) (1.1 ) — 2.5 1.4 Balance at September 30, 2018 $ — $ 1.4 $ (36.2 ) $ (34.8 ) |
Property, Plant and Equipment_2
Property, Plant and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Property, Plant and Equipment [Line Items] | |
Schedule of Change in Asset Retirement Obligation [Table Text Block] | Changes in the Liability for AROs $ in millions Balance at January 1, 2018 $ 15.1 Revisions to cash flow and timing estimates 1.6 Accretion expense 0.2 Settlements (3.4 ) Balance at September 30, 2018 $ 13.5 See Note 5 – Fair Value for further discussion on changes to our AROs. |
Subsidiaries [Member] | |
Property, Plant and Equipment [Line Items] | |
Schedule of Change in Asset Retirement Obligation [Table Text Block] | Changes in the Liability for AROs $ in millions Balance at January 1, 2018 $ 8.0 Revisions to cash flow and timing estimates 0.1 Settlements (3.4 ) Balance at September 30, 2018 $ 4.7 |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
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, 2018 and December 31, 2017 . Information about the fair value of our derivative instruments can be found in Note 6 – Derivative Instruments and Hedging Activities . September 30, 2018 December 31, 2017 $ in millions Cost Fair Value Cost Fair Value Assets Money market funds $ 0.3 $ 0.3 $ 0.3 $ 0.3 Equity securities 2.4 4.1 2.5 4.2 Debt securities 4.1 4.0 4.3 4.3 Hedge funds 0.2 0.2 0.1 0.2 Tangible assets 0.1 0.1 0.1 0.1 Total Assets $ 7.1 $ 8.7 $ 7.3 $ 9.1 Carrying Value Fair Value Carrying Value Fair Value Liabilities Long-term debt $ 1,476.0 $ 1,560.1 $ 1,704.8 $ 1,819.3 |
Fair Value of Assets and Liabilities Measured on Recurring Basis | The fair value of assets and liabilities at September 30, 2018 and December 31, 2017 and the respective category within the fair value hierarchy for DPL is as follows: $ in millions Fair value at September 30, 2018 (a) Fair value at December 31, 2017 (a) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Master Trust assets Money market funds $ 0.3 $ — $ — $ 0.3 $ 0.3 $ — $ — $ 0.3 Equity securities — 4.1 — 4.1 — 4.2 — 4.2 Debt securities — 4.0 — 4.0 — 4.3 — 4.3 Hedge funds — 0.2 — 0.2 — 0.2 — 0.2 Tangible assets — 0.1 — 0.1 — 0.1 — 0.1 Total Master Trust assets 0.3 8.4 — 8.7 0.3 8.8 — 9.1 Derivative assets Interest rate hedges — 2.2 — 2.2 — 1.8 — 1.8 Total Derivative assets — 2.2 — 2.2 — 1.8 — 1.8 Total Assets $ 0.3 $ 10.6 $ — $ 10.9 $ 0.3 $ 10.6 $ — $ 10.9 Liabilities Long-term debt $ — $ 1,542.4 $ 17.7 $ 1,560.1 $ — $ 1,801.5 $ 17.8 $ 1,819.3 Total Liabilities $ — $ 1,542.4 $ 17.7 $ 1,560.1 $ — $ 1,801.5 $ 17.8 $ 1,819.3 (a) Includes credit valuation adjustment |
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, 2018 and December 31, 2017 . Information about the fair value of our derivative instruments can be found in Note 6 – Derivative Instruments and Hedging Activities . September 30, 2018 December 31, 2017 $ in millions Cost Fair Value Cost Fair Value Assets Money market funds $ 0.3 $ 0.3 $ 0.3 $ 0.3 Equity securities 2.4 4.1 2.5 4.2 Debt securities 4.1 4.0 4.3 4.3 Hedge funds 0.2 0.2 0.1 0.2 Tangible assets 0.1 0.1 0.1 0.1 Total assets $ 7.1 $ 8.7 $ 7.3 $ 9.1 Carrying Value Fair Value Carrying Value Fair Value Liabilities Long-term debt $ 586.7 $ 594.9 $ 646.6 $ 658.4 |
Fair Value of Assets and Liabilities Measured on Recurring Basis | The fair value of assets and liabilities at September 30, 2018 and December 31, 2017 and the respective category within the fair value hierarchy for DP&L is as follows: $ in millions Fair value at September 30, 2018 (a) Fair value at December 31, 2017 (a) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Master Trust assets Money market funds $ 0.3 $ — $ — $ 0.3 $ 0.3 $ — $ — $ 0.3 Equity securities — 4.1 — 4.1 — 4.2 — 4.2 Debt securities — 4.0 — 4.0 — 4.3 — 4.3 Hedge funds — 0.2 — 0.2 — 0.2 — 0.2 Tangible assets — 0.1 — 0.1 — 0.1 — 0.1 Total Master Trust assets 0.3 8.4 — 8.7 0.3 8.8 — 9.1 Derivative assets Interest rate hedges — 2.2 — 2.2 — 1.8 — 1.8 Total derivative assets — 2.2 — 2.2 — 1.8 — 1.8 Total assets $ 0.3 $ 10.6 $ — $ 10.9 $ 0.3 $ 10.6 $ — $ 10.9 Liabilities Long-term debt $ — $ 577.2 $ 17.7 594.9 $ — $ 640.6 $ 17.8 $ 658.4 Total liabilities $ — $ 577.2 $ 17.7 $ 594.9 $ — $ 640.6 $ 17.8 $ 658.4 (a) Includes credit valuation adjustment |
Derivative Instruments and He_2
Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
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, 2018 and 2017 : Three months ended Three months ended September 30, 2018 September 30, 2017 Interest Interest $ in millions (net of tax) Power Rate Hedge Power Rate Hedge Beginning accumulated derivative gains in AOCI $ — $ 17.4 $ 3.0 $ 17.2 Net gains associated with current period hedging transactions — 0.1 1.3 0.1 Net losses reclassified to earnings Interest expense — (0.2 ) — (0.2 ) Loss from discontinued operations — — (2.2 ) — Ending accumulated derivative gains in AOCI $ — $ 17.3 $ 2.1 $ 17.1 Nine months ended Nine months ended September 30, 2018 September 30, 2017 Interest Interest $ in millions (net of tax) Power Rate Hedge Power Rate Hedge Beginning accumulated derivative gains / (losses) in AOCI $ (2.8 ) $ 17.5 $ (4.3 ) $ 17.4 Net gains associated with current period hedging transactions — 0.4 11.9 0.2 Net gains / (losses) reclassified to earnings Interest expense — (0.6 ) — (0.5 ) Gain / (loss) from discontinued operations 2.8 — (5.5 ) — Ending accumulated derivative gains in AOCI $ — $ 17.3 $ 2.1 $ 17.1 Portion expected to be reclassified to earnings in the next twelve months $ (0.8 ) Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) 23 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 | 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 fair value derivative position of DPL's interest rate swaps are as follows: Fair Values of Derivative Instruments at September 30, 2018 Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets $ in millions Hedging Designation Gross Fair Value as presented in the Condensed 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) Interest rate swap Designated $ 0.9 $ — $ — $ 0.9 Long-term derivative positions (presented in Other deferred assets) Interest rate swap Designated 1.3 — — 1.3 Total assets $ 2.2 $ — $ — $ 2.2 (a) Includes credit valuation adjustment. Fair Values of Derivative Instruments at December 31, 2017 Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets $ in millions Hedging Designation Gross Fair Value as presented in the Condensed Consolidated Balance Sheets (a) Financial Instruments with Same Counterparty in Offsetting Position Cash Collateral Net Fair Value Assets Long-term derivative positions (presented in Other deferred assets) Interest rate swaps Designated $ 1.8 $ — $ — $ 1.8 Total assets $ 1.8 $ — $ — $ 1.8 (a) Includes credit valuation adjustment. |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
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, 2018 and 2017 : Three months ended Three months ended September 30, 2018 September 30, 2017 Interest Interest $ in millions (net of tax) Rate Hedge Power Rate Hedge Beginning accumulated derivative gains in AOCI $ 1.6 $ 3.0 $ 1.4 Net gains associated with current period hedging transactions — 1.3 0.1 Net losses reclassified to earnings Interest expense (0.2 ) — (0.2 ) Net losses reclassified to discontinued operations — (2.2 ) — Ending accumulated derivative gains in AOCI $ 1.4 $ 2.1 $ 1.3 Nine months ended Nine months ended September 30, 2018 September 30, 2017 Interest Interest $ in millions (net of tax) Rate Hedge Power Rate Hedge Beginning accumulated derivative gains / (losses) in AOCI $ 1.4 $ (4.3 ) $ 1.6 Net gains associated with current period hedging transactions 0.5 11.9 0.2 Net losses reclassified to earnings Interest expense (0.5 ) — (0.5 ) Loss from discontinued operations — (5.5 ) — Ending accumulated derivative gains in AOCI $ 1.4 $ 2.1 $ 1.3 Portion expected to be reclassified to earnings in the next twelve months $ (0.8 ) Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) 23 |
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location | 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 fair value derivative position of DP&L's interest rate swaps are as follows: Fair Values of Derivative Instruments at September 30, 2018 Gross Amounts Not Offset in the Condensed Balance Sheets $ in millions Hedging Designation Gross Fair Value as presented in the Condensed 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) Interest rate swap Designated $ 0.9 $ — $ — $ 0.9 Long-term derivative positions (presented in Other deferred assets) Interest rate swap Designated 1.3 1.3 Total assets $ 2.2 $ — $ — $ 2.2 (a) Includes credit valuation adjustment. Fair Values of Derivative Instruments at December 31, 2017 Gross Amounts Not Offset in the Condensed Balance Sheets $ in millions Hedging Designation Gross Fair Value as presented in the Condensed Balance Sheets (a) Financial Instruments with Same Counterparty in Offsetting Position Cash Collateral Net Fair Value Assets Long-term derivative positions (presented in Other deferred assets) Interest rate swaps Designated $ 1.8 $ — $ — $ 1.8 Total assets $ 1.8 $ — $ — $ 1.8 (a) Includes credit valuation adjustment. |
Debt (Tables)
Debt (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Debt Instrument [Line Items] | |
Long-term Debt | The following table summarizes DPL's outstanding long-term debt. Interest September 30, December 31, $ in millions Rate Maturity 2018 2017 Term loan - rates from 3.57% - 4.82% (a) and 4.01% - 4.60% (b) 2022 $ 437.2 $ 440.6 Tax-exempt First Mortgage Bonds - rates from 2.50% - 2.72% (a) and 1.52% - 1.92% (b) 2020 140.0 200.0 U.S. Government note 4.2% 2061 17.7 17.8 Unamortized deferred financing costs (6.7 ) (9.8 ) Unamortized long-term debt discounts and premiums, net (1.5 ) (2.0 ) Total long-term debt at consolidated subsidiary 586.7 646.6 Bank term loan - rates from 3.82% - 3.90% (a) and 3.02% - 4.10% (b) 2020 — 70.0 Senior unsecured notes 6.75% 2019 99.0 200.0 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 (4.8 ) (6.9 ) Unamortized long-term debt discounts and premiums, net (0.5 ) (0.5 ) Total long-term debt 1,476.0 1,704.8 Less: current portion (4.6 ) (4.6 ) Long-term debt, net of current portion $ 1,471.4 $ 1,700.2 (a) Range of interest rates for the nine months ended September 30, 2018 . (b) Range of interest rates for the year ended December 31, 2017 . (c) Note payable to related party. |
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 2018 2017 Term loan - rates from 3.57% - 4.82% (a) and 4.01% - 4.60% (b) 2022 $ 437.2 $ 440.6 Tax-exempt First Mortgage Bonds - rates from 2.50% - 2.72% (a) and 1.52% - 1.92% (b) 2020 140.0 200.0 U.S. Government note 4.2% 2061 17.7 17.8 Unamortized deferred financing costs (6.7 ) (9.8 ) Unamortized long-term debt discounts (1.5 ) (2.0 ) Total long-term debt 586.7 646.6 Less: current portion (4.6 ) (4.6 ) Long-term debt, net of current portion $ 582.1 $ 642.0 (a) Range of interest rates for the nine months ended September 30, 2018 . (b) Range of interest rates for the year ended December 31, 2017 . |
Income Taxes (Tables)
Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
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, 2018 and 2017 . Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 DPL 15.7% 63.0% 10.9% 39.1% |
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, 2018 and 2017 . Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 DP&L 16.8% (4.5)% 16.2% 18.1% |
Benefit Plans (Tables)
Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
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, 2018 and 2017 was: Three months ended Nine months ended September 30, September 30, $ in millions 2018 2017 2018 2017 Service cost $ 1.5 $ 1.5 $ 4.5 $ 4.3 Interest cost 3.4 3.5 10.3 10.6 Expected return on plan assets (5.3 ) (5.7 ) (15.9 ) (17.1 ) Plan curtailment (a) — — — 4.1 Amortization of unrecognized: Prior service cost 0.3 0.2 0.8 0.8 Actuarial loss 1.6 1.3 4.8 4.0 Net periodic benefit cost $ 1.5 $ 0.8 $ 4.5 $ 6.7 (a) As a result of the decision to retire certain of DPL's coal-fired plants, we recognized a plan curtailment of $4.1 million in the first quarter of 2017. |
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 balance to be paid during Pension 2018 $ 7.1 2019 $ 28.2 2020 $ 27.9 2021 $ 27.6 2022 $ 27.3 2023 - 2027 $ 131.3 |
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, 2018 and 2017 was: Three months ended Nine months ended September 30, September 30, $ in millions 2018 2017 2018 2017 Service cost $ 1.5 $ 1.5 $ 4.5 $ 4.3 Interest cost 3.4 3.5 10.3 10.6 Expected return on plan assets (5.3 ) (5.7 ) (15.9 ) (17.1 ) Plan curtailment (a) — — — 5.6 Amortization of unrecognized: Prior service cost 0.4 0.3 1.1 1.1 Actuarial loss 2.4 2.1 7.1 6.6 Net periodic benefit cost $ 2.4 $ 1.7 $ 7.1 $ 11.1 (a) As a result of the decision to retire certain of DPL's coal-fired plants, we recognized a plan curtailment of $5.6 million in the first quarter of 2017. |
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 balance to be paid during Pension 2018 $ 7.1 2019 $ 28.2 2020 $ 27.9 2021 $ 27.6 2022 $ 27.3 2023 - 2027 $ 131.3 |
Business Segments (Tables)
Business Segments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Segment Reporting Information [Line Items] | |
Financial Reporting for Reportable Business Segments | The following tables present financial information for DPL’s Utility reportable business segment: $ in millions Utility Other (a) Adjustments and Eliminations DPL Consolidated Three months ended September 30, 2018 Revenues from external customers $ 198.5 $ 9.2 $ — $ 207.7 Intersegment revenues 0.2 0.7 (0.9 ) — Total revenues $ 198.7 $ 9.9 $ (0.9 ) $ 207.7 Depreciation and amortization $ 19.1 $ 0.6 $ — $ 19.7 Interest expense $ 5.8 $ 16.8 $ — $ 22.6 Income / (loss) from continuing operations before income tax $ 37.5 $ (17.7 ) $ — $ 19.8 Cash capital expenditures $ 20.5 $ 4.6 $ — $ 25.1 $ in millions Utility Other (a) Adjustments and Eliminations DPL Consolidated Three Months Ended September 30, 2017 Revenues from external customers $ 184.0 $ 7.7 $ — $ 191.7 Intersegment revenues 0.2 0.9 (1.1 ) — Total revenues $ 184.2 $ 8.6 $ (1.1 ) $ 191.7 Depreciation and amortization $ 19.6 $ 0.2 $ — $ 19.8 Interest expense $ 7.9 $ 19.9 $ — $ 27.8 Income / (loss) from continuing operations before income tax $ 20.0 $ (22.7 ) $ — $ (2.7 ) Cash capital expenditures $ 20.6 $ 8.6 $ — $ 29.2 $ in millions Utility Other (a) Adjustments and Eliminations DPL Consolidated Nine months ended September 30, 2018 Revenues from external customers $ 562.9 $ 28.6 $ — $ 591.5 Intersegment revenues 0.6 2.1 (2.7 ) — Total revenues $ 563.5 $ 30.7 $ (2.7 ) $ 591.5 Depreciation and amortization $ 56.5 $ 2.3 $ — $ 58.8 Interest expense $ 20.5 $ 53.9 $ — $ 74.4 Income / (loss) from continuing operations before income tax $ 73.9 $ (60.2 ) $ — $ 13.7 Cash capital expenditures $ 65.0 $ 10.8 $ — $ 75.8 At September 30, 2018 Total assets $ 1,678.4 $ 510.6 $ (403.5 ) $ 1,785.5 $ in millions Utility Other (a) Adjustments and Eliminations DPL Consolidated Nine months ended September 30, 2017 Revenues from external customers $ 541.7 $ 20.0 $ — $ 561.7 Intersegment revenues 0.8 3.6 (4.4 ) — Total revenues $ 542.5 $ 23.6 $ (4.4 ) $ 561.7 Depreciation and amortization $ 56.3 $ 0.6 $ — $ 56.9 Interest expense $ 23.5 $ 59.2 $ — $ 82.7 Income / (loss) from continuing operations before income tax $ 60.1 $ (72.9 ) $ — $ (12.8 ) Cash capital expenditures $ 66.3 $ 29.3 $ — $ 95.6 At December 31, 2017 Total assets $ 1,689.4 $ 743.0 $ (383.2 ) $ 2,049.2 (a) "Other" includes Cash capital expenditures and Total assets related to the assets of discontinued operations and held-for-sale businesses for all periods presented. |
Revenue (Tables)
Revenue (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disaggregation of Revenue [Table Text Block] | DPL's revenue from contracts with customers was $195.1 million and $560.1 million for the three and nine months ended September 30, 2018 , respectively. The following table presents our revenue from contracts with customers and other revenue by segment for the three and nine months ended September 30, 2018 : $ in millions Utility Other Adjustments and Eliminations Total Three Months Ended September 30, 2018 Retail Revenue Retail revenue from contracts with customers $ 168.4 $ — $ (0.4 ) $ 168.0 Other retail revenues (a) 12.6 — — 12.6 Wholesale Revenue Wholesale revenue from contracts with customers 4.9 5.6 — 10.5 RTO revenue 10.8 (0.1 ) — 10.7 RTO capacity revenues 2.0 1.7 — 3.7 Other revenues from contracts with customers (b) — 2.2 — 2.2 Other revenues — 0.5 (0.5 ) — Total revenues $ 198.7 $ 9.9 $ (0.9 ) $ 207.7 Nine months ended September 30, 2018 Retail Revenue Retail revenue from contracts with customers $ 469.3 $ — $ (0.8 ) $ 468.5 Other retail revenues (a) 31.4 — — 31.4 Wholesale Revenue Wholesale revenue from contracts with customers 24.6 16.7 — 41.3 RTO revenue 32.4 0.1 — 32.5 RTO capacity revenues 5.8 4.7 — 10.5 Other revenues from contracts with customers (b) — 7.3 — 7.3 Other revenues — 1.9 (1.9 ) — Total revenues $ 563.5 $ 30.7 $ (2.7 ) $ 591.5 (a) Other retail revenue primarily includes alternative revenue programs not accounted for under FASC 606. Accounts receivable balances associated with these revenues were $6.0 million as of September 30, 2018 . (b) Other revenues from contracts with customers primarily includes revenues for various services provided by Miami Valley Lighting. |
Subsidiaries [Member] | |
Disaggregation of Revenue [Table Text Block] | DP&L's revenue from contracts with customers was $186.1 million and $532.1 million for the three and nine months ended September 30, 2018 , respectively. The following table presents our revenue from contracts with customers and other revenue for the three and nine months ended September 30, 2018 : Three Nine months ended months ended $ in millions September 30, 2018 September 30, 2018 Retail Revenue Retail revenue from contracts with customers $ 168.4 $ 469.3 Other retail revenues (a) 12.6 31.4 Wholesale Revenue Wholesale revenue from contracts with customers 4.9 24.6 RTO revenue 10.8 32.4 RTO capacity revenues 2.0 5.8 Total revenues $ 198.7 $ 563.5 (a) Other retail revenue primarily includes alternative revenue programs not accounted for under FASC 606. Accounts receivable balances associated with these revenues were $6.0 million as of September 30, 2018 . |
Generation Separation (Tables)
Generation Separation (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
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 major categories of assets and liabilities at the dates indicated: $ in millions September 30, 2018 December 31, 2017 Restricted cash $ — $ 1.5 Accounts receivable, net 6.2 37.9 Inventories 0.1 19.4 Taxes applicable to subsequent years 0.1 7.4 Other prepayments and current assets 3.1 17.4 Property, plant & equipment, net 1.8 233.9 Intangible assets, net 6.2 5.5 Other deferred assets — 0.6 Total assets of the disposal group classified as assets of discontinued operations and held-for-sale businesses in the balance sheets $ 17.5 $ 323.6 Accounts payable $ 7.7 $ 25.1 Accrued taxes 5.1 6.3 Other current liabilities 7.1 30.0 Long-term debt (a) — 0.3 Deferred taxes (b) (14.1 ) (17.4 ) Taxes payable — 7.4 Pension, retiree and other benefits 9.7 10.6 Asset retirement obligations 117.2 116.6 Other deferred credits 5.8 5.9 Total liabilities of the disposal group classified as liabilities of discontinued operations and held-for-sale businesses in the balance sheets $ 138.5 $ 184.8 (a) Long-term debt relates to capital leases. (b) Deferred taxes represent the tax asset position of the discontinued group of components, which were netted with liabilities on DPL prior to classification as discontinued operations. The following table summarizes the revenues, cost of revenues, operating and other expenses and income tax of discontinued operations for the periods indicated: Three months ended Nine months ended September 30, September 30, $ in millions 2018 2017 2018 2017 Revenues $ 15.6 $ 132.1 $ 141.8 $ 384.2 Cost of revenues (6.8 ) (63.3 ) (67.4 ) (198.5 ) Operating and other expenses (3.8 ) (38.0 ) (37.7 ) (152.9 ) Fixed-asset impairment — — — (66.4 ) Income / (loss) from discontinued operations 5.0 30.8 36.7 (33.6 ) Gain / (loss) from disposal of discontinued operations 0.3 — (1.6 ) — Income tax expense / (benefit) from discontinued operations 1.0 7.9 5.9 (12.1 ) Net income / (loss) from discontinued operations $ 4.3 $ 22.9 $ 29.2 $ (21.5 ) |
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] | The following table summarizes the revenues, cost of revenues, operating and other expenses and income tax of discontinued operations for the period indicated: Three months ended Nine months ended September 30, 2017 September 30, 2017 Revenues $ 121.5 $ 358.4 Cost of revenues (62.0 ) (191.6 ) Operating and other expenses (38.3 ) (156.8 ) Fixed-asset impairment — (66.3 ) Income / (loss) from discontinued operations 21.2 (56.3 ) Income tax expense / (benefit) from discontinued operations 12.8 (10.7 ) Net income / (loss) from discontinued operations $ 8.4 $ (45.6 ) |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
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 major categories of assets and liabilities at the dates indicated: $ in millions September 30, 2018 December 31, 2017 Restricted cash $ — $ 1.5 Accounts receivable, net 6.2 37.9 Inventories 0.1 19.4 Taxes applicable to subsequent years 0.1 7.4 Other prepayments and current assets 3.1 17.4 Property, plant & equipment, net 1.8 233.9 Intangible assets, net 6.2 5.5 Other deferred assets — 0.6 Total assets of the disposal group classified as assets of discontinued operations and held-for-sale businesses in the balance sheets $ 17.5 $ 323.6 Accounts payable $ 7.7 $ 25.1 Accrued taxes 5.1 6.3 Other current liabilities 7.1 30.0 Long-term debt (a) — 0.3 Deferred taxes (b) (14.1 ) (17.4 ) Taxes payable — 7.4 Pension, retiree and other benefits 9.7 10.6 Asset retirement obligations 117.2 116.6 Other deferred credits 5.8 5.9 Total liabilities of the disposal group classified as liabilities of discontinued operations and held-for-sale businesses in the balance sheets $ 138.5 $ 184.8 (a) Long-term debt relates to capital leases. (b) Deferred taxes represent the tax asset position of the discontinued group of components, which were netted with liabilities on DPL prior to classification as discontinued operations. The following table summarizes the revenues, cost of revenues, operating and other expenses and income tax of discontinued operations for the periods indicated: Three months ended Nine months ended September 30, September 30, $ in millions 2018 2017 2018 2017 Revenues $ 15.6 $ 132.1 $ 141.8 $ 384.2 Cost of revenues (6.8 ) (63.3 ) (67.4 ) (198.5 ) Operating and other expenses (3.8 ) (38.0 ) (37.7 ) (152.9 ) Fixed-asset impairment — — — (66.4 ) Income / (loss) from discontinued operations 5.0 30.8 36.7 (33.6 ) Gain / (loss) from disposal of discontinued operations 0.3 — (1.6 ) — Income tax expense / (benefit) from discontinued operations 1.0 7.9 5.9 (12.1 ) Net income / (loss) from discontinued operations $ 4.3 $ 22.9 $ 29.2 $ (21.5 ) |
Held for Sale (Tables)
Held for Sale (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
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 major categories of assets and liabilities at the dates indicated: $ in millions September 30, 2018 December 31, 2017 Restricted cash $ — $ 1.5 Accounts receivable, net 6.2 37.9 Inventories 0.1 19.4 Taxes applicable to subsequent years 0.1 7.4 Other prepayments and current assets 3.1 17.4 Property, plant & equipment, net 1.8 233.9 Intangible assets, net 6.2 5.5 Other deferred assets — 0.6 Total assets of the disposal group classified as assets of discontinued operations and held-for-sale businesses in the balance sheets $ 17.5 $ 323.6 Accounts payable $ 7.7 $ 25.1 Accrued taxes 5.1 6.3 Other current liabilities 7.1 30.0 Long-term debt (a) — 0.3 Deferred taxes (b) (14.1 ) (17.4 ) Taxes payable — 7.4 Pension, retiree and other benefits 9.7 10.6 Asset retirement obligations 117.2 116.6 Other deferred credits 5.8 5.9 Total liabilities of the disposal group classified as liabilities of discontinued operations and held-for-sale businesses in the balance sheets $ 138.5 $ 184.8 (a) Long-term debt relates to capital leases. (b) Deferred taxes represent the tax asset position of the discontinued group of components, which were netted with liabilities on DPL prior to classification as discontinued operations. The following table summarizes the revenues, cost of revenues, operating and other expenses and income tax of discontinued operations for the periods indicated: Three months ended Nine months ended September 30, September 30, $ in millions 2018 2017 2018 2017 Revenues $ 15.6 $ 132.1 $ 141.8 $ 384.2 Cost of revenues (6.8 ) (63.3 ) (67.4 ) (198.5 ) Operating and other expenses (3.8 ) (38.0 ) (37.7 ) (152.9 ) Fixed-asset impairment — — — (66.4 ) Income / (loss) from discontinued operations 5.0 30.8 36.7 (33.6 ) Gain / (loss) from disposal of discontinued operations 0.3 — (1.6 ) — Income tax expense / (benefit) from discontinued operations 1.0 7.9 5.9 (12.1 ) Net income / (loss) from discontinued operations $ 4.3 $ 22.9 $ 29.2 $ (21.5 ) |
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] | The following table summarizes the revenues, cost of revenues, operating and other expenses and income tax of discontinued operations for the period indicated: Three months ended Nine months ended September 30, 2017 September 30, 2017 Revenues $ 121.5 $ 358.4 Cost of revenues (62.0 ) (191.6 ) Operating and other expenses (38.3 ) (156.8 ) Fixed-asset impairment — (66.3 ) Income / (loss) from discontinued operations 21.2 (56.3 ) Income tax expense / (benefit) from discontinued operations 12.8 (10.7 ) Net income / (loss) from discontinued operations $ 8.4 $ (45.6 ) |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Narrative) (Details) $ in Millions | Jan. 01, 2018USD ($) | Sep. 30, 2018USD ($)employee | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($)mi²employeecustomergenerating_facilitysegment | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) |
Significant Accounting Policies [Line Items] | |||||||
Number of reportable segments | segment | 1 | ||||||
Cash and Cash Equivalents, at Carrying Value | $ 65.4 | $ 65.4 | $ 24.5 | ||||
Entity number of employees | employee | 674 | 674 | |||||
Employees under a collective bargaining agreement which expires in October-2011 | 53.00% | ||||||
Excise taxes collected | $ 13.8 | $ 13 | $ 39.2 | $ 36.9 | |||
Restricted Cash and Cash Equivalents, Current | 22 | 22 | 0.4 | ||||
Restricted Cash and Cash Equivalents | 87.4 | 23.4 | 87.4 | 23.4 | 24.9 | $ 54.6 | |
AOCI reclassed to Retained Earnings before tax | $ 1.6 | ||||||
AOCI reclassed to Retained Earnings, net of tax | 1 | 0 | 0 | $ (1) | 0 | ||
THE DAYTON POWER AND LIGHT COMPANY [Member] | |||||||
Significant Accounting Policies [Line Items] | |||||||
Number of reportable segments | segment | 1 | ||||||
Cash and Cash Equivalents, at Carrying Value | $ 10.7 | $ 10.7 | 5.2 | ||||
Approximate number of retail customers | customer | 524,000 | ||||||
Service area, square miles | mi² | 6,000 | ||||||
Number of Operating Segments | segment | 1 | ||||||
Entity number of employees | employee | 648 | 648 | |||||
Employees under a collective bargaining agreement which expires in October-2011 | 55.00% | ||||||
Number Of Generating Facilities | generating_facility | 1 | ||||||
Excise taxes collected | $ 13.8 | 13 | $ 39.2 | 36.9 | |||
Restricted Cash and Cash Equivalents, Current | 2 | 2 | 0.4 | ||||
Restricted Cash and Cash Equivalents | 12.7 | 15.3 | 12.7 | 15.3 | $ 5.6 | $ 1.6 | |
AOCI reclassed to Retained Earnings before tax | 1.7 | ||||||
AOCI reclassed to Retained Earnings, net of tax | $ 1.1 | $ 0 | $ 0 | (1.1) | 0 | ||
Adjustments for New Accounting Pronouncement [Member] | |||||||
Significant Accounting Policies [Line Items] | |||||||
AOCI reclassed to Retained Earnings before tax | 1.6 | ||||||
AOCI reclassed to Retained Earnings, net of tax | 1 | ||||||
Non-service Pension Costs | (1.6) | ||||||
Increase (Decrease) in Restricted Cash | 27 | ||||||
Adjustments for New Accounting Pronouncement [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||||||
Significant Accounting Policies [Line Items] | |||||||
AOCI reclassed to Retained Earnings before tax | 1.7 | ||||||
AOCI reclassed to Retained Earnings, net of tax | $ 1.1 | ||||||
Non-service Pension Costs | 1.2 | ||||||
Increase (Decrease) in Restricted Cash | $ 27 |
Supplemental Financial Inform_3
Supplemental Financial Information (Supplemental Financial Information) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Supplemental Financial Information [Line Items] | |||||
Gain (Loss) on Disposition of Business | $ (13.2) | $ 0 | |||
Gain (Loss) on Sale of Assets and Asset Impairment Charges | 0.6 | (15.9) | |||
Unbilled Revenue | $ 11 | 11 | $ 18 | ||
Customer receivables | 60.4 | 60.4 | 45.2 | ||
Due from PJM transmission settlement | 21.7 | 21.7 | 0 | ||
Other | 3.5 | 3.5 | 2.5 | ||
Provision for uncollectible accounts | (1.1) | (1.1) | (1.1) | ||
Total accounts receivable, net | 95.5 | 95.5 | 64.6 | ||
Fuel and limestone | 2 | 2 | 4.1 | ||
Plant materials and supplies | 8.1 | 8.1 | 8.1 | ||
Other | 0.6 | 0.6 | 0.5 | ||
Total inventories, at average cost | 10.7 | 10.7 | 12.7 | ||
Other Operating Income (Expense), Net | (1.6) | $ 0.4 | (14.6) | 0.4 | |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |||||
Supplemental Financial Information [Line Items] | |||||
Gain (Loss) on Disposition of Business | 0 | 0 | (12.4) | 0 | |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | 0 | (15.9) | |||
Unbilled Revenue | 11 | 11 | 18 | ||
Customer receivables | 59 | 59 | 44.2 | ||
Due from PJM transmission settlement | 21.7 | 21.7 | 0 | ||
Amounts due from partners in jointly owned stations | 9 | 9 | 3.7 | ||
Other | 3.4 | 3.4 | 6 | ||
Provision for uncollectible accounts | (1.1) | (1.1) | (1.1) | ||
Total accounts receivable, net | 103 | 103 | 70.8 | ||
Plant materials and supplies | 6.9 | 6.9 | 6.9 | ||
Other | 0.6 | 0.6 | 0.4 | ||
Total inventories, at average cost | 7.5 | 7.5 | $ 7.3 | ||
Other Operating Income (Expense) [Member] | |||||
Supplemental Financial Information [Line Items] | |||||
Gain (Loss) on Sale of Assets and Asset Impairment Charges | 0 | 0 | 11.7 | 0 | |
Asset Impairment Charges | 1.6 | 0 | 2.8 | 0 | |
Other Cost and Expense, Operating | 0 | (0.4) | 0.1 | (0.4) | |
Other Operating Income (Expense), Net | $ 1.6 | $ (0.4) | $ 14.6 | $ (0.4) |
Supplemental Financial Inform_4
Supplemental Financial Information (Reclassification out of ACOI) (Details) - USD ($) $ in Millions | Jan. 01, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | |||||
Other income | $ (22.1) | $ (30) | $ (80) | $ (85) | |
AOCI reclassed to Retained Earnings before tax | $ 1.6 | ||||
Tax expense | (3.1) | 1.7 | (1.5) | 5 | |
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | 5 | 30.8 | 36.7 | (33.6) | |
Discontinued Operation, Tax Effect of Discontinued Operation | (1) | (7.9) | (5.9) | 12.1 | |
Net income / (loss) | 21 | 21.9 | 41.4 | (29.3) | |
Interest expense | (22.6) | (27.8) | (74.4) | (82.7) | |
Operating Expenses | (77.6) | (86.4) | (246.2) | (259.1) | |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | |||||
Other income | (6.2) | (9.1) | (23) | (26.4) | |
AOCI reclassed to Retained Earnings before tax | $ 1.7 | ||||
Tax expense | (6.3) | 0.9 | (12) | (10.9) | |
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | 0 | 21.2 | 0 | (56.3) | |
Discontinued Operation, Tax Effect of Discontinued Operation | 0 | (12.8) | 0 | 10.7 | |
Net income / (loss) | 31.2 | 29.3 | 61.9 | 3.6 | |
Interest expense | (5.8) | (7.9) | (20.5) | (23.5) | |
Operating Expenses | (71.9) | (80.7) | (229.2) | (234) | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | |||||
Net income / (loss) | (0.1) | (2.4) | 1.6 | (5.2) | |
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) | 0.7 | (1.7) | 0.9 | (2.3) | |
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 | (0.1) | |
AOCI reclassed to Retained Earnings before tax | 0 | 0 | (1.6) | 0 | |
Tax expense | 0 | 0 | 0.6 | 0 | |
Net income / (loss) | 0 | 0 | (1) | (0.1) | |
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 | (0.1) | |
AOCI reclassed to Retained Earnings before tax | 0 | 0 | (1.7) | 0 | |
Tax expense | 0 | 0 | 0.6 | 0 | |
Net income / (loss) | 0 | 0 | (1.1) | (0.1) | |
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 | 0.1 | 0.1 | 0.3 | 0.3 | |
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | 0 | (3.5) | 4.3 | (8.5) | |
Discontinued Operation, Tax Effect of Discontinued Operation | 0 | 1.2 | (1.5) | 3 | |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | 0 | (2.3) | 2.8 | (5.5) | |
Net income / (loss) | (0.2) | (0.1) | (0.6) | (0.5) | |
Interest expense | (0.3) | (0.2) | (0.9) | (0.8) | |
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 | 0.1 | 0.1 | 0.6 | 0.3 | |
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | 0 | (3.5) | 0 | (8.5) | |
Discontinued Operation, Tax Effect of Discontinued Operation | 0 | 1.3 | 0 | 3 | |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | 0 | (2.2) | 0 | (5.5) | |
Net income / (loss) | (0.2) | (0.2) | (0.5) | (0.5) | |
Interest expense | (0.3) | (0.3) | (1.1) | (0.8) | |
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 | (0.1) | 0 | (0.1) | (0.5) | |
Net income / (loss) | 0.1 | 0 | 0.4 | 0.9 | |
Operating Expenses | 0.2 | 0 | 0.5 | 1.4 | |
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 | (0.2) | (0.4) | (0.7) | (2.1) | |
Net income / (loss) | 0.9 | 0.7 | 2.5 | 3.8 | |
Operating Expenses | $ 1.1 | $ 1.1 | $ 3.2 | $ 5.9 |
Supplemental Financial Inform_5
Supplemental Financial Information (Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions | Jan. 01, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||||
Balance, beginning of period | $ 0.8 | $ 0.8 | |||
Other comprehensive income before reclassifications | 0.4 | ||||
Amounts reclassified from AOCI to earnings | 2.6 | ||||
AOCI reclassed to Retained Earnings, net of tax | 1 | $ 0 | $ 0 | (1) | $ 0 |
Other comprehensive income / (loss) | 0 | (0.9) | 2 | 5.8 | |
Balance, end of period | 2.8 | 2.8 | |||
THE DAYTON POWER AND LIGHT COMPANY [Member] | |||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||||
Balance, beginning of period | (36.2) | (36.2) | |||
Other comprehensive income before reclassifications | 0.5 | ||||
Amounts reclassified from AOCI to earnings | 2 | ||||
AOCI reclassed to Retained Earnings, net of tax | 1.1 | 0 | 0 | (1.1) | 0 |
Other comprehensive income / (loss) | 0.7 | $ (0.2) | 1.4 | $ 8.6 | |
Balance, end of period | (34.8) | (34.8) | |||
Gains / (losses) on available-for-sale securities [Member] | |||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||||
Balance, beginning of period | 1 | 1 | |||
Other comprehensive income before reclassifications | 0 | ||||
Amounts reclassified from AOCI to earnings | 0 | ||||
AOCI reclassed to Retained Earnings, net of tax | (1) | ||||
Other comprehensive income / (loss) | (1) | ||||
Balance, end of period | 0 | 0 | |||
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 | 1.1 | 1.1 | |||
Other comprehensive income before reclassifications | 0 | ||||
Amounts reclassified from AOCI to earnings | 0 | ||||
AOCI reclassed to Retained Earnings, net of tax | (1.1) | ||||
Other comprehensive income / (loss) | (1.1) | ||||
Balance, end of period | 0 | 0 | |||
Gains / (losses) on cash flow hedges [Member] | |||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||||
Balance, beginning of period | 14.7 | 14.7 | |||
Other comprehensive income before reclassifications | 0.4 | ||||
Amounts reclassified from AOCI to earnings | 2.2 | ||||
AOCI reclassed to Retained Earnings, net of tax | 0 | ||||
Other comprehensive income / (loss) | 2.6 | ||||
Balance, end of period | 17.3 | 17.3 | |||
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 | 1.4 | 1.4 | |||
Other comprehensive income before reclassifications | 0.5 | ||||
Amounts reclassified from AOCI to earnings | (0.5) | ||||
AOCI reclassed to Retained Earnings, net of tax | 0 | ||||
Other comprehensive income / (loss) | 0 | ||||
Balance, end of period | 1.4 | 1.4 | |||
Change in unfunded pension obligation [Member] | |||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||||
Balance, beginning of period | (14.9) | (14.9) | |||
Other comprehensive income before reclassifications | 0 | ||||
Amounts reclassified from AOCI to earnings | 0.4 | ||||
AOCI reclassed to Retained Earnings, net of tax | 0 | ||||
Other comprehensive income / (loss) | 0.4 | ||||
Balance, end of period | (14.5) | (14.5) | |||
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 | $ (38.7) | (38.7) | |||
Other comprehensive income before reclassifications | 0 | ||||
Amounts reclassified from AOCI to earnings | 2.5 | ||||
AOCI reclassed to Retained Earnings, net of tax | 0 | ||||
Other comprehensive income / (loss) | 2.5 | ||||
Balance, end of period | $ (36.2) | $ (36.2) |
Regulatory Matters (Details)
Regulatory Matters (Details) - USD ($) $ in Millions | Oct. 01, 2018 | Jan. 01, 2018 | Sep. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Regulatory Assets, Noncurrent | $ 150.6 | $ 163.2 | ||||
Unbilled Revenue | 11 | 18 | ||||
One-time Decoupling Rider Revenue Requirement | 3.7 | |||||
Period for refund of eligible excess ADIT and any related regulatory liability as required by PUCO | 10 years | |||||
Due from PJM transmission settlement | $ 21.7 | 0 | ||||
Recovery percentage of transmission charges and credits in DP&L's nonbypassable TCRR | 100.00% | |||||
Subsidiaries [Member] | ||||||
Regulatory Assets, Noncurrent | $ 150.6 | 163.2 | ||||
Unbilled Revenue | 11 | 18 | ||||
One-time Decoupling Rider Revenue Requirement | 3.7 | |||||
Period for refund of eligible excess ADIT and any related regulatory liability as required by PUCO | 10 years | |||||
Due from PJM transmission settlement | $ 21.7 | $ 0 | ||||
Recovery percentage of transmission charges and credits in DP&L's nonbypassable TCRR | 100.00% | |||||
Subsequent Event [Member] | ||||||
DRO revenue requirement | $ 248 | |||||
DRO Vegetation Management Cost Deferral Cap | $ 4.6 | $ 4.6 | ||||
TCJA Yearly Refund to Customers Per DRO | 4 | |||||
DRO Vegetation Management Cost Baseline | 15.7 | 10.7 | ||||
Public Utilities, Approved Rate Increase (Decrease), Amount | $ 29.8 | |||||
Public Utilities, Approved Return on Equity, Percentage | 9.999% | |||||
Public Utilities, Approved Debt Capital Structure, Percentage | 4.80% | |||||
Distribution Investment Rider | $ 12.2 | |||||
Proposed annual reduction in transmission rates to reflect effects of TCJA | 2.4 | |||||
Subsequent Event [Member] | Subsidiaries [Member] | ||||||
DRO revenue requirement | 248 | |||||
DRO Vegetation Management Cost Deferral Cap | 4.6 | 4.6 | ||||
TCJA Yearly Refund to Customers Per DRO | 4 | |||||
DRO Vegetation Management Cost Baseline | $ 15.7 | |||||
Public Utilities, Approved Rate Increase (Decrease), Amount | $ 29.8 | |||||
Public Utilities, Approved Return on Equity, Percentage | 9.999% | |||||
Public Utilities, Approved Debt Capital Structure, Percentage | 4.80% | |||||
Distribution Investment Rider | $ 12.2 | |||||
Proposed annual reduction in transmission rates to reflect effects of TCJA | $ 2.4 | |||||
Long-term [Member] | ||||||
Due from PJM transmission settlement | $ 40.4 | |||||
Long-term [Member] | Subsidiaries [Member] | ||||||
Due from PJM transmission settlement | 40.4 | |||||
Short-term [Member] | ||||||
Due from PJM transmission settlement | 24.1 | |||||
Short-term [Member] | Subsidiaries [Member] | ||||||
Due from PJM transmission settlement | 24.1 | |||||
Vegetation Management [Member] | ||||||
Regulatory Assets, Noncurrent | 3.8 | |||||
Vegetation Management [Member] | Subsidiaries [Member] | ||||||
Regulatory Assets, Noncurrent | 3.8 | |||||
Distribution Investment Rider [Member] | ||||||
Unbilled Revenue | 0.4 | |||||
Distribution Investment Rider [Member] | Subsidiaries [Member] | ||||||
Unbilled Revenue | 0.4 | |||||
PJM transmission enhancement settlement repayment amount [Member] | ||||||
PJM transmission enhancement repayment amount | $ 4.8 |
Property, Plant and Equipment_3
Property, Plant and Equipment (Details) $ in Millions | 9 Months Ended | |||
Sep. 30, 2018USD ($)generating_facilitypower_plant | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Property, Plant and Equipment [Line Items] | ||||
Proceeds from Sale of Property, Plant, and Equipment | $ 10.6 | $ 0 | ||
Asset Retirement Obligations, Noncurrent | 13.5 | 132.5 | $ 15.1 | $ 138.8 |
Asset Retirement Obligation, Revision of Estimate | 1.6 | |||
Asset Retirement Obligation, Accretion Expense | 0.2 | |||
Asset Retirement Obligation, Liabilities Settled | (3.4) | |||
Asset Retirement Obligation, Held for Sale | (117.2) | (116.6) | ||
Gain (Loss) on Sale of Assets and Asset Impairment Charges | 0.6 | (15.9) | ||
Subsidiaries [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Proceeds from Sale of Property, Plant, and Equipment | $ 10.6 | 0 | ||
Number Of Coal Fired Power Plants | power_plant | 1 | |||
Asset Retirement Obligation | $ 4.7 | 131 | $ 8 | $ 135.2 |
Asset Retirement Obligation, Revision of Estimate | $ 0.1 | |||
Number Of Generating Facilities | generating_facility | 1 | |||
Asset Retirement Obligation, Liabilities Settled | $ (3.4) | |||
Gain (Loss) on Sale of Assets and Asset Impairment Charges | $ 0 | $ (15.9) |
Fair Value (Narrative) (Details
Fair Value (Narrative) (Details) - USD ($) $ in Millions | Jan. 01, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 |
AOCI reclassed to Retained Earnings before tax | $ 1.6 | |||||
AOCI reclassed to Retained Earnings, net of tax | 1 | $ 0 | $ 0 | $ (1) | $ 0 | |
Long-term debt, earliest maturities | 2,019 | |||||
Long-term debt, latest maturities | 2,061 | |||||
Unrealized Gains and Immaterial Unrealized Losses in AOCI, Before Tax | $ 1.6 | |||||
Unrealized gains and immaterial unrealized losses in AOCI, after tax | 1 | |||||
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||||
AOCI reclassed to Retained Earnings before tax | 1.7 | |||||
AOCI reclassed to Retained Earnings, net of tax | $ 1.1 | $ 0 | $ 0 | $ (1.1) | $ 0 | |
Long-term debt, earliest maturities | 2,020 | |||||
Long-term debt, latest maturities | 2,061 | |||||
Unrealized Gains and Immaterial Unrealized Losses in AOCI, Before Tax | 1.7 | |||||
Unrealized gains and immaterial unrealized losses in AOCI, after tax | $ 1.1 |
Fair Value (Fair Value and Cost
Fair Value (Fair Value and Cost of Non-Derivative Instruments) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Sep. 30, 2018 | |
Unrealized Gains and Immaterial Unrealized Losses in AOCI, Before Tax | $ 1.6 | |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Unrealized Gains and Immaterial Unrealized Losses in AOCI, Before Tax | 1.7 | |
Cost [Member] | ||
Total Assets | 7.3 | $ 7.1 |
Cost [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Assets | 7.3 | 7.1 |
Fair Value [Member] | ||
Total Master Trust Assets, Fair Value | 9.1 | 8.7 |
Total Assets | 9.1 | 8.7 |
Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 9.1 | 8.7 |
Total Assets | 9.1 | 8.7 |
Money Market Funds [Member] | Cost [Member] | ||
Total Master Trust Assets, Cost | 0.3 | 0.3 |
Money Market Funds [Member] | Cost [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Cost | 0.3 | 0.3 |
Money Market Funds [Member] | Fair Value [Member] | ||
Total Master Trust Assets, Fair Value | 0.3 | 0.3 |
Money Market Funds [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0.3 | 0.3 |
Equity Securities [Member] | Cost [Member] | ||
Total Master Trust Assets, Cost | 2.5 | 2.4 |
Equity Securities [Member] | Cost [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Cost | 2.5 | 2.4 |
Equity Securities [Member] | Fair Value [Member] | ||
Total Master Trust Assets, Fair Value | 4.2 | 4.1 |
Equity Securities [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 4.2 | 4.1 |
Debt Securities [Member] | Cost [Member] | ||
Total Master Trust Assets, Cost | 4.3 | 4.1 |
Debt Securities [Member] | Cost [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Cost | 4.3 | 4.1 |
Debt Securities [Member] | Fair Value [Member] | ||
Total Master Trust Assets, Fair Value | 4.3 | 4 |
Debt Securities [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 4.3 | 4 |
Hedge Funds [Member] | Cost [Member] | ||
Total Master Trust Assets, Cost | 0.1 | 0.2 |
Hedge Funds [Member] | Cost [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Cost | 0.1 | 0.2 |
Hedge Funds [Member] | Fair Value [Member] | ||
Total Master Trust Assets, Fair Value | 0.2 | 0.2 |
Hedge Funds [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0.2 | 0.2 |
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 | 1,704.8 | 1,476 |
Debt [Member] | Cost [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Debt, Cost | 646.6 | 586.7 |
Debt [Member] | Fair Value [Member] | ||
Debt, Fair Value | 1,819.3 | 1,560.1 |
Debt [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Debt, Fair Value | $ 658.4 | $ 594.9 |
Fair Value (Fair Value of Asset
Fair Value (Fair Value of Assets and Liabilities Measured on Recurring Basis) (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Level 1 [Member] | ||
Total Master Trust Assets, Fair Value | $ 0.3 | $ 0.3 |
Total Derivative Assets | 0 | 0 |
Total Assets | 0.3 | 0.3 |
Total Liabilities | 0 | 0 |
Level 1 [Member] | Interest Rate Contract [Member] | ||
Total Derivative Assets | 0 | 0 |
Level 1 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0.3 | 0.3 |
Total Derivative Assets | 0 | 0 |
Total Assets | 0.3 | 0.3 |
Total Liabilities | 0 | 0 |
Level 1 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Interest Rate Contract [Member] | ||
Total Derivative Assets | 0 | 0 |
Level 2 [Member] | ||
Total Master Trust Assets, Fair Value | 8.4 | 8.8 |
Total Derivative Assets | 2.2 | 1.8 |
Total Assets | 10.6 | 10.6 |
Total Liabilities | 1,542.4 | 1,801.5 |
Level 2 [Member] | Interest Rate Contract [Member] | ||
Total Derivative Assets | 2.2 | 1.8 |
Level 2 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 8.4 | 8.8 |
Total Derivative Assets | 2.2 | 1.8 |
Total Assets | 10.6 | 10.6 |
Total Liabilities | 577.2 | 640.6 |
Level 2 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Interest Rate Contract [Member] | ||
Total Derivative Assets | 2.2 | 1.8 |
Level 3 [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Total Derivative Assets | 0 | 0 |
Total Assets | 0 | 0 |
Total Liabilities | 17.7 | 17.8 |
Level 3 [Member] | Interest Rate Contract [Member] | ||
Total Derivative Assets | 0 | 0 |
Level 3 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0 | 0 |
Total Derivative Assets | 0 | 0 |
Total Assets | 0 | 0 |
Total Liabilities | 17.7 | 17.8 |
Level 3 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Interest Rate Contract [Member] | ||
Total Derivative Assets | 0 | 0 |
Fair Value [Member] | ||
Total Master Trust Assets, Fair Value | 8.7 | 9.1 |
Total Derivative Assets | 2.2 | 1.8 |
Total Assets | 10.9 | 10.9 |
Total Liabilities | 1,560.1 | 1,819.3 |
Fair Value [Member] | Interest Rate Contract [Member] | ||
Total Derivative Assets | 2.2 | 1.8 |
Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 8.7 | 9.1 |
Total Derivative Assets | 2.2 | 1.8 |
Total Assets | 10.9 | 10.9 |
Total Liabilities | 594.9 | 658.4 |
Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Interest Rate Contract [Member] | ||
Total Derivative Assets | 2.2 | 1.8 |
Money Market Funds [Member] | Level 1 [Member] | ||
Total Master Trust Assets, Fair Value | 0.3 | 0.3 |
Money Market Funds [Member] | Level 1 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0.3 | 0.3 |
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 | 0.3 | 0.3 |
Money Market Funds [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0.3 | 0.3 |
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 | 4.2 |
Equity Securities [Member] | Level 2 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 4.1 | 4.2 |
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 | 4.2 |
Equity Securities [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 4.1 | 4.2 |
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 | 4.3 |
Debt Securities [Member] | Level 2 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 4 | 4.3 |
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 | 4.3 |
Debt Securities [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 4 | 4.3 |
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 | 0.2 | 0.2 |
Hedge Funds [Member] | Level 2 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0.2 | 0.2 |
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 | 0.2 | 0.2 |
Hedge Funds [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Total Master Trust Assets, Fair Value | 0.2 | 0.2 |
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 | 1,542.4 | 1,801.5 |
Debt [Member] | Level 2 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Debt | 577.2 | 640.6 |
Debt [Member] | Level 3 [Member] | ||
Debt | 17.7 | 17.8 |
Debt [Member] | Level 3 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Debt | 17.7 | 17.8 |
Debt [Member] | Fair Value [Member] | ||
Debt | 1,560.1 | 1,819.3 |
Debt [Member] | Fair Value [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Debt | $ 594.9 | $ 658.4 |
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 | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Property, Plant and Equipment, Net | $ 1,320.7 | $ 1,319.8 | ||
Impairment of Long-Lived Assets Held-for-use | 2.8 | $ 66.4 | ||
Asset Retirement Obligations, Noncurrent | 13.5 | 132.5 | 15.1 | $ 138.8 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Asset Retirement Obligation | 4.7 | 131 | 8 | $ 135.2 |
Property, Plant and Equipment, Net | 1,303.3 | $ 1,301.4 | ||
Impairment of Long-Lived Assets Held-for-use | 0 | 66.3 | ||
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 | ||||
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 | $ (3.3) | $ (4.2) |
Derivative Instruments and He_3
Derivative Instruments and Hedging Activities (Narrative) (Details) $ in Millions | 9 Months Ended | ||
Sep. 30, 2018USD ($)Number_of_interest_rate_swaps | Mar. 29, 2018USD ($) | Dec. 31, 2017USD ($) | |
Sale of Derivative Instruments Interest Rate Swap | $ 60 | ||
Gain on sale of Derivative Instruments Interest Rate Swap | $ 0.8 | ||
THE DAYTON POWER AND LIGHT COMPANY [Member] | |||
Debt Instrument, Number of Financial Covenants | Number_of_interest_rate_swaps | 2 | ||
Long-term Debt, Gross | $ 594.9 | ||
Sale of Derivative Instruments Interest Rate Swap | $ 60 | ||
Gain on sale of Derivative Instruments Interest Rate Swap | 0.8 | ||
One Point One Three To One Point One Seven Bonds Maturing In August Two Thousand Twenty [Member] | |||
Long-term Debt, Gross | 140 | ||
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 | 140 | ||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | |||
Derivative, Notional Amount, Purchase (Sales), Net | 140 | $ 200 | |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||
Derivative, Notional Amount, Purchase (Sales), Net | $ 140 | $ 200 |
Derivative Instruments and He_4
Derivative Instruments and Hedging Activities (Outstanding Derivative Instruments) (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2018 | Mar. 29, 2018 | Dec. 31, 2017 | |
Sale of Derivative Instruments Interest Rate Swap | $ (60) | ||
Gain on sale of Derivative Instruments Interest Rate Swap | $ 0.8 | ||
THE DAYTON POWER AND LIGHT COMPANY [Member] | |||
Sale of Derivative Instruments Interest Rate Swap | $ (60) | ||
Gain on sale of Derivative Instruments Interest Rate Swap | 0.8 | ||
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | |||
Derivative, Notional Amount, Purchase (Sales), Net | 140 | $ 200 | |
Designated as Hedging Instrument [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | Interest Rate Swap [Member] | |||
Derivative, Notional Amount, Purchase (Sales), Net | $ 140 | $ 200 |
Derivative Instruments and He_5
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, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Forward Contract Power [Member] | ||||
Accumulated Derivative Gain/Loss in AOCI [Roll Forward] | ||||
Beginning accumulated derivative gain / (loss) in AOCI | $ 0 | $ 3 | $ (2.8) | $ (4.3) |
Net gains / (losses) associated with current period hedging transactions | 0 | 1.3 | 0 | 11.9 |
Ending accumulated derivative gain / (loss) in AOCI | 0 | 2.1 | 0 | 2.1 |
Portion expected to be reclassified to earnings in the next twelve months | ||||
Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) | ||||
Interest Rate Contract [Member] | ||||
Accumulated Derivative Gain/Loss in AOCI [Roll Forward] | ||||
Beginning accumulated derivative gain / (loss) in AOCI | 17.4 | 17.2 | $ 17.5 | 17.4 |
Net gains / (losses) associated with current period hedging transactions | 0.1 | 0.1 | 0.4 | 0.2 |
Ending accumulated derivative gain / (loss) in AOCI | 17.3 | 17.1 | 17.3 | 17.1 |
Portion expected to be reclassified to earnings in the next twelve months | (0.8) | $ (0.8) | ||
Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) | 23 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 | (4.3) | ||
Net gains / (losses) associated with current period hedging transactions | 1.3 | 11.9 | ||
Ending accumulated derivative gain / (loss) in AOCI | 2.1 | 2.1 | ||
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 | 1.6 | 1.4 | $ 1.4 | 1.6 |
Net gains / (losses) associated with current period hedging transactions | 0 | 0.1 | 0.5 | 0.2 |
Ending accumulated derivative gain / (loss) in AOCI | 1.4 | 1.3 | 1.4 | 1.3 |
Portion expected to be reclassified to earnings in the next twelve months | (0.8) | $ (0.8) | ||
Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) | 23 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) | (0.2) | (0.6) | (0.5) |
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 | ||
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) | (0.5) |
Sales [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 | (2.2) | |||
Sales [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 | ||
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | Forward Contract Power [Member] | ||||
Accumulated Derivative Gain/Loss in AOCI [Roll Forward] | ||||
Net gains losses reclassified to earnings | 0 | (2.2) | 2.8 | (5.5) |
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | Interest Rate Contract [Member] | ||||
Accumulated Derivative Gain/Loss in AOCI [Roll Forward] | ||||
Net gains losses reclassified to earnings | $ 0 | $ 0 | 0 | 0 |
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [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 | (5.5) | |||
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [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 |
Derivative Instruments and He_6
Derivative Instruments and Hedging Activities (Fair Value and Balance Sheet Location (Details) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Total Assets [Member] | ||
Derivative Asset, Fair Value | $ 2.2 | $ 1.8 |
Derivative, Collateral, Obligation to Return Securities | 0 | 0 |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 2.2 | 1.8 |
Total Assets [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Asset, Fair Value | 2.2 | 1.8 |
Derivative, Collateral, Obligation to Return Securities | 0 | 0 |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 2.2 | 1.8 |
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Short-term Derivative Positions [Member] | Other Prepayments and Current Assets [Member] | ||
Derivative Asset, Fair Value | 0.9 | |
Derivative, Collateral, Obligation to Return Securities | 0 | |
Derivative, Collateral, Obligation to Return Cash | 0 | |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0.9 | |
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Short-term Derivative Positions [Member] | Other Prepayments and Current Assets [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Derivative Asset, Fair Value | 0.9 | |
Derivative, Collateral, Obligation to Return Securities | 0 | |
Derivative, Collateral, Obligation to Return Cash | 0 | |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0.9 | |
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Long-term Derivative Positions [Member] | Other Deferred Asset [Member] | ||
Derivative Asset, Fair Value | 1.3 | 1.8 |
Derivative, Collateral, Obligation to Return Securities | 0 | 0 |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 1.3 | 1.8 |
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 | 1.3 | 1.8 |
Derivative, Collateral, Obligation to Return Securities | 0 | |
Derivative, Collateral, Obligation to Return Cash | 0 | |
Derivative Asset, Fair Value, Amount Offset Against Collateral | $ 1.3 | $ 1.8 |
Debt (Narrative) (Details)
Debt (Narrative) (Details) $ in Millions | Sep. 30, 2018USD ($)fiscal_quarterdebt_covenant | Dec. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | Jul. 03, 2018 | Sep. 30, 2018USD ($)fiscal_quarterdebt_covenant | Sep. 30, 2017USD ($) | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018USD ($)fiscal_quarterdebt_covenant | Apr. 30, 2018USD ($) | Mar. 30, 2018USD ($) | Jan. 03, 2018 | Dec. 31, 2017USD ($) | Aug. 03, 2015USD ($) |
Debt Instrument [Line Items] | ||||||||||||||||
Long-term Line of Credit | $ 0 | $ 0 | $ 0 | |||||||||||||
Retirement of long-term debt | $ 239.4 | $ 122.1 | ||||||||||||||
Debt to EBITDA Ratio | 5.34 | |||||||||||||||
Long Term Indebtedness, Less than or Equal to | 750 | $ 750 | ||||||||||||||
Debt Covenant, Leverage Ratio, Maximum | 0.67 | |||||||||||||||
Debt Covenant, Interest Coverage Ratio, Minimum | 2.50 | |||||||||||||||
Leverage Ratio | 1.51 | |||||||||||||||
Debt Covenant, Total Debt to Total Capitalization Ratio, Maximum | 0.65 | 0.75 | ||||||||||||||
Interest Coverage Ratio | 2.76 | |||||||||||||||
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Long-term Line of Credit | $ 0 | $ 0 | $ 0 | $ 10 | ||||||||||||
Long-term Debt, Gross | 594.9 | 594.9 | 594.9 | |||||||||||||
Retirement of long-term debt | $ 63.3 | 103.3 | ||||||||||||||
Long Term Indebtedness, Less than or Equal to | $ 750 | $ 750 | ||||||||||||||
Debt Covenant, Interest Coverage Ratio, Minimum | 2.50 | |||||||||||||||
Debt Covenant, Total Debt to Total Capitalization Ratio, Maximum | 0.65 | 0.75 | ||||||||||||||
Senior unsecured due in October 2019 - 6.75% [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Extinguishment of Debt, Amount | $ 101 | |||||||||||||||
Long-term Debt, Gross | $ 99 | $ 99 | $ 99 | $ 200 | 200 | |||||||||||
Make Whole Premium | $ 5.1 | |||||||||||||||
Debt instrument interest percentage | 6.75% | 6.75% | 6.75% | |||||||||||||
Variable Rate Notes Backed by Term Loan and First Mortgage Bonds [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Extinguishment of Debt, Amount | $ 60 | |||||||||||||||
Variable Rate Notes Backed by Term Loan and First Mortgage Bonds [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Extinguishment of Debt, Amount | 60 | |||||||||||||||
Long-term Debt, Gross | $ 140 | 140 | $ 140 | 200 | ||||||||||||
Debt Instrument, Face Amount | $ 200 | |||||||||||||||
Bank term loan due in July 2020 - rates from: 2.44% - 2.45% [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Extinguishment of Debt, Amount | 70 | |||||||||||||||
Long-term Debt, Gross | 70 | |||||||||||||||
Term Loan Maturing 2022 [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Long-term Debt, Gross | 437.2 | 437.2 | 437.2 | 440.6 | ||||||||||||
Early prepayment rate | 101.00% | |||||||||||||||
Term Loan Maturing 2022 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Long-term Debt, Gross | $ 437.2 | $ 437.2 | $ 437.2 | $ 440.6 | ||||||||||||
Early prepayment rate | 101.00% | |||||||||||||||
Revolving Credit Agreement and Standby Letters of Credit [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Number of financial covenants | debt_covenant | 2 | 2 | 2 | |||||||||||||
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 | 2 | 2 | |||||||||||||
Number of prior quarters included in EBITDA to interest calculation | fiscal_quarter | 4 | 4 | 4 | |||||||||||||
Debt Covenant, Interest Coverage Ratio, Minimum | 2.50 | |||||||||||||||
Interest Coverage Ratio | 7.35 | |||||||||||||||
DPL Revolving Credit Agreement and Term Loan Maturing July 2020 [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Number of financial covenants | debt_covenant | 2 | 2 | 2 | |||||||||||||
Number of prior quarters included in EBITDA to interest calculation | fiscal_quarter | 4 | 4 | 4 | |||||||||||||
Number of prior quarters included in debt to EBITDA ratio | fiscal_quarter | 4 | 4 | 4 | |||||||||||||
Base Rate Term Loan B [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt instrument interest percentage | 1.00% | 2.25% | ||||||||||||||
Base Rate Term Loan B [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt instrument interest percentage | 1.00% | 2.25% | ||||||||||||||
Eurodollar rate Term Loan B [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt instrument interest percentage | 2.00% | 3.25% | ||||||||||||||
Eurodollar rate Term Loan B [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt instrument interest percentage | 2.00% | 3.25% | ||||||||||||||
Subsequent Event [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt Covenant, Debt to EBITDA Ratio, Maximum | 6.75 | 7 | 6.50 | 7.25 | ||||||||||||
Debt Covenant, Interest Coverage Ratio, Minimum | 2.25 | 2.10 | ||||||||||||||
Subsequent Event [Member] | Term Loan Maturing 2022 [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Standard Repayment Rate | 100.00% | |||||||||||||||
Subsequent Event [Member] | Term Loan Maturing 2022 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Standard Repayment Rate | 100.00% |
Debt (Long-term Debt) (Details)
Debt (Long-term Debt) (Details) - USD ($) $ in Millions | 6 Months Ended | 9 Months Ended | |||
Dec. 31, 2018 | Jul. 03, 2018 | Sep. 30, 2018 | Mar. 30, 2018 | Dec. 31, 2017 | |
Debt Instrument [Line Items] | |||||
Unamortized deferred finance costs | $ (6.7) | $ (9.8) | |||
Unamortized deferred finance costs | (4.8) | (6.9) | |||
Unamortized long-term debt discounts and premiums, net | (0.5) | (0.5) | |||
Total long-term debt at subsidiary | 586.7 | 646.6 | |||
Total long-term debt | 1,476 | 1,704.8 | |||
Less: current portion | (4.6) | (4.6) | |||
Long-term debt | $ 1,471.4 | 1,700.2 | |||
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 | $ 594.9 | ||||
Unamortized deferred finance costs | (6.7) | (9.8) | |||
Unamortized long-term debt discounts and premiums, net | (1.5) | (2) | |||
Unamortized long-term debt discounts | (1.5) | (2) | |||
Total long-term debt | 586.7 | 646.6 | |||
Less: current portion | (4.6) | (4.6) | |||
Long-term debt | $ 582.1 | 642 | |||
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 | $ 437.2 | 440.6 | |||
Early prepayment rate | 101.00% | ||||
Term Loan Maturing 2022 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | $ 437.2 | 440.6 | |||
Early prepayment rate | 101.00% | ||||
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 | $ 140 | 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 | $ 17.7 | 17.8 | |||
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 | $ 17.7 | 17.8 | |||
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 | 70 | ||||
Debt instrument maturity year | Jul. 31, 2020 | ||||
Senior unsecured due in October 2019 - 6.75% [Member] | |||||
Debt Instrument [Line Items] | |||||
Long-term Debt, Gross | $ 99 | $ 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% | ||||
Subsequent Event [Member] | Term Loan Maturing 2022 [Member] | |||||
Debt Instrument [Line Items] | |||||
Standard Repayment Rate | 100.00% | ||||
Subsequent Event [Member] | Term Loan Maturing 2022 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||||
Debt Instrument [Line Items] | |||||
Standard Repayment Rate | 100.00% | ||||
Maximum [Member] | Term Loan Maturing 2022 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument interest percentage | 4.82% | ||||
Debt Instrument, Interest Rate, Effective Percentage | 4.60% | ||||
Maximum [Member] | Term Loan Maturing 2022 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument interest percentage | 4.82% | ||||
Debt Instrument, Interest Rate, Effective Percentage | 4.60% | ||||
Maximum [Member] | Pollution Control Series Maturing in August 2020 - 1.13% - 1.14% [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument interest percentage | 1.92% | ||||
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 | 2.722% | ||||
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 | 2.72% | 1.92% | |||
Maximum [Member] | Bank term loan due in July 2020 - rates from: 2.44% - 2.45% [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument interest percentage | 3.898% | 4.10% | |||
Minimum [Member] | Term Loan Maturing 2022 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument interest percentage | 4.01% | ||||
Debt Instrument, Interest Rate, Effective Percentage | 3.57% | ||||
Minimum [Member] | Term Loan Maturing 2022 [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument interest percentage | 4.01% | ||||
Debt Instrument, Interest Rate, Effective Percentage | 3.57% | ||||
Minimum [Member] | Pollution Control Series Maturing in August 2020 - 1.13% - 1.14% [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] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument interest percentage | 2.498% | ||||
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 | 2.50% | 1.52% | |||
Minimum [Member] | Bank term loan due in July 2020 - rates from: 2.44% - 2.45% [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument interest percentage | 3.817% | 3.02% |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Entity Information [Line Items] | ||||
Effective income tax rates | 15.70% | 63.00% | 10.90% | 39.10% |
Estimated annual effective income tax rate | 16.80% | 36.00% | ||
Federal Income Tax Rate for Corporations | 21.00% | 35.00% | ||
Non-cash capital contribution | $ 30.2 | $ 0 | ||
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||||
Entity Information [Line Items] | ||||
Effective income tax rates | 16.80% | (4.50%) | 16.20% | 18.10% |
Estimated annual effective income tax rate | 17.10% | 19.00% | ||
Federal Income Tax Rate for Corporations | 21.00% | 35.00% |
Benefit Plans (Net Periodic Ben
Benefit Plans (Net Periodic Benefit Cost (Income)) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Pension [Member] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment | $ (4.1) | ||||
Contributions by employer | $ 7.8 | 5 | |||
Service cost | $ 1.5 | $ 1.5 | 4.5 | 4.3 | |
Interest cost | 3.4 | 3.5 | 10.3 | 10.6 | |
Expected return on assets | (5.3) | (5.7) | (15.9) | (17.1) | |
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Curtailment | 0 | 0 | 0 | 4.1 | |
Prior service cost | 0.3 | 0.2 | 0.8 | 0.8 | |
Actuarial loss / (gain) | 1.6 | 1.3 | 4.8 | 4 | |
Net periodic benefit cost | 1.5 | 0.8 | 4.5 | 6.7 | |
Postretirement [Member] | |||||
Defined Benefit Plan, Funded (Unfunded) Status of Plan | 12.8 | 12.8 | $ 12.7 | ||
THE DAYTON POWER AND LIGHT COMPANY [Member] | Pension [Member] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment | (5.6) | ||||
Contributions by employer | 7.8 | 5 | |||
Service cost | 1.5 | 1.5 | 4.5 | 4.3 | |
Interest cost | 3.4 | 3.5 | 10.3 | 10.6 | |
Expected return on assets | (5.3) | (5.7) | (15.9) | (17.1) | |
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Curtailment | 0 | 0 | 0 | 5.6 | |
Prior service cost | 0.4 | 0.3 | 1.1 | 1.1 | |
Actuarial loss / (gain) | 2.4 | 2.1 | 7.1 | 6.6 | |
Net periodic benefit cost | 2.4 | $ 1.7 | 7.1 | $ 11.1 | |
THE DAYTON POWER AND LIGHT COMPANY [Member] | Postretirement [Member] | |||||
Defined Benefit Plan, Funded (Unfunded) Status of Plan | $ 12.8 | $ 12.8 | $ 12.7 |
Benefit Plans (Estimated Future
Benefit Plans (Estimated Future Benefit Payments and Medicare Part D Reimbursements) (Details) - Pension [Member] $ in Millions | Sep. 30, 2018USD ($) |
2,016 | $ 7.1 |
2,017 | 28.2 |
2,018 | 27.9 |
2,019 | 27.6 |
2,020 | 27.3 |
2021 - 2025 | 131.3 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | |
2,016 | 7.1 |
2,017 | 28.2 |
2,018 | 27.9 |
2,019 | 27.6 |
2,020 | 27.3 |
2021 - 2025 | $ 131.3 |
Shareholder's Equity (Details)
Shareholder's Equity (Details) - USD ($) $ / shares in Units, $ in Millions | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Class of Stock [Line Items] | |||
Non-cash capital contribution | $ 30.2 | $ 0 | |
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 | 42.00% | ||
PUCO merger, maximum long-term debt allowed | $ 750 | ||
PUCO merger, maximum long-term debt as percent of rate base (percent) | 75.00% | ||
Long-term Debt, Gross | $ 594.9 | ||
Proceeds from Contributions from Parent | 80 | 70 | |
Payments of Ordinary Dividends, Common Stock | $ 43.8 | $ 19 |
Contractual Obligations, Comm_2
Contractual Obligations, Commercial Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | |
Public Utility, Property, Plant and Equipment [Line Items] | ||
Due to third parties, current | $ 0 | $ 0.9 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Debt maturity, earliest | 2,022 | |
Debt maturity, latest | 2,040 | |
AES Ohio Generation [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Third party guarantees | $ 23.5 | |
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 | $ 68.8 | |
Electric Generation Company [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Debt obligation | $ 1,404.9 | |
Other OVEC Member [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Equity ownership interest | 4.90% | |
Other OVEC Member [Member] | THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Equity ownership interest | 4.90% |
Business Segments (Narrative) (
Business Segments (Narrative) (Details) - THE DAYTON POWER AND LIGHT COMPANY [Member] | 9 Months Ended |
Sep. 30, 2018mi²customersegment | |
Segment Reporting Information [Line Items] | |
Number of Operating Segments | segment | 1 |
Approximate number of retail customers | customer | 524,000 |
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, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Segment Reporting Information [Line Items] | |||||
Gain (Loss) on Disposition of Business | $ (13.2) | $ 0 | |||
External customer revenues | $ 207.7 | $ 191.7 | 591.5 | 561.7 | |
Intersegment revenues | 0 | 0 | 0 | 0 | |
Total revenues | 207.7 | 191.7 | 591.5 | 561.7 | |
Depreciation and amortization | 19.7 | 19.8 | 58.8 | 56.9 | |
Fuel Costs | 4.6 | 3.3 | 12.7 | 7.6 | |
Depreciation and amortization | 62.4 | 81.8 | |||
Impairment of Long-Lived Assets Held-for-use | 2.8 | 66.4 | |||
Interest expense | 22.6 | 27.8 | 74.4 | 82.7 | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 19.8 | (2.7) | 13.7 | (12.8) | |
Net income / (loss) from continuing operations | 16.7 | (1) | 12.2 | (7.8) | |
Discontinued operations, net of tax | 4.3 | 22.9 | 29.2 | (21.5) | |
Net income/ (loss) | 21 | 21.9 | 41.4 | (29.3) | |
Capital expenditures | 25.1 | 29.2 | 75.8 | 95.6 | |
Total assets | 1,785.5 | 1,785.5 | $ 2,049.2 | ||
Operating Segments [Member] | Utility [Member] | |||||
Segment Reporting Information [Line Items] | |||||
External customer revenues | 198.5 | 184 | 562.9 | 541.7 | |
Intersegment revenues | 0.2 | 0.2 | 0.6 | 0.8 | |
Total revenues | 198.7 | 184.2 | 563.5 | 542.5 | |
Depreciation and amortization | 19.1 | 19.6 | 56.5 | 56.3 | |
Interest expense | 5.8 | 7.9 | 20.5 | 23.5 | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 37.5 | 20 | 73.9 | 60.1 | |
Capital expenditures | 20.5 | 20.6 | 65 | 66.3 | |
Total assets | 1,678.4 | 1,678.4 | 1,689.4 | ||
Corporate, Non-Segment [Member] | |||||
Segment Reporting Information [Line Items] | |||||
External customer revenues | 9.2 | 7.7 | 28.6 | 20 | |
Intersegment revenues | 0.7 | 0.9 | 2.1 | 3.6 | |
Total revenues | 9.9 | 8.6 | 30.7 | 23.6 | |
Depreciation and amortization | 0.6 | 0.2 | 2.3 | 0.6 | |
Interest expense | 16.8 | 19.9 | 53.9 | 59.2 | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | (17.7) | (22.7) | (60.2) | (72.9) | |
Capital expenditures | 4.6 | 8.6 | 10.8 | 29.3 | |
Total assets | 510.6 | 510.6 | 743 | ||
Adjustments and Eliminations [Member] | |||||
Segment Reporting Information [Line Items] | |||||
External customer revenues | 0 | 0 | 0 | 0 | |
Intersegment revenues | (0.9) | (1.1) | (2.7) | (4.4) | |
Total revenues | (0.9) | (1.1) | (2.7) | (4.4) | |
Depreciation and amortization | 0 | 0 | 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 | (403.5) | (403.5) | (383.2) | ||
Subsidiaries [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Gain (Loss) on Disposition of Business | 0 | 0 | (12.4) | 0 | |
Depreciation and amortization | 19.1 | 19.6 | 56.5 | 56.3 | |
Fuel Costs | 0.1 | 0 | 1.7 | 0 | |
Depreciation and amortization | 56.5 | 68.2 | |||
Impairment of Long-Lived Assets Held-for-use | 0 | 66.3 | |||
Interest expense | 5.8 | 7.9 | 20.5 | 23.5 | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 37.5 | 20 | 73.9 | 60.1 | |
Net income / (loss) from continuing operations | 31.2 | 20.9 | 61.9 | 49.2 | |
Discontinued operations, net of tax | 0 | 8.4 | 0 | (45.6) | |
Net income/ (loss) | 31.2 | 29.3 | 61.9 | 3.6 | |
Total assets | $ 1,678.4 | $ 1,678.4 | $ 1,689.4 | ||
Subsidiaries [Member] | Generation [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Discontinued operations, net of tax | $ 8.4 | $ (45.6) |
Revenue (Details)
Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Revenue from Contract with Customer, Excluding Assessed Tax | $ 195.1 | $ 560.1 | |||
RTO Revenue | 10.7 | 32.5 | |||
RTO Capacity Revenue | 3.7 | 10.5 | |||
Revenues | 207.7 | $ 191.7 | 591.5 | $ 561.7 | |
Contract with Customer, Asset, Gross | 65.4 | 65.4 | $ 63 | ||
Corporate, Non-Segment [Member] | |||||
RTO Revenue | (0.1) | 0.1 | |||
RTO Capacity Revenue | 1.7 | 4.7 | |||
Revenues | 9.9 | 30.7 | |||
Adjustments and Eliminations [Member] | |||||
RTO Revenue | 0 | 0 | |||
RTO Capacity Revenue | 0 | 0 | |||
Revenues | (0.9) | (2.7) | |||
Utility [Member] | |||||
RTO Revenue | 10.8 | 32.4 | |||
RTO Capacity Revenue | 2 | 5.8 | |||
Revenues | 198.7 | 563.5 | |||
Subsidiaries [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 186.1 | 532.1 | |||
Alternative Revenue Programs Accounts Receivable, Gross | 6 | 6 | |||
RTO Revenue | 10.8 | 32.4 | |||
RTO Capacity Revenue | 2 | 5.8 | |||
Revenues | 198.7 | $ 184.2 | 563.5 | $ 542.5 | |
Contract with Customer, Asset, Gross | 64 | 64 | $ 62.1 | ||
Other Revenues [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2.2 | 7.3 | |||
Other non-606 revenue | 0 | 0 | |||
Other Revenues [Member] | Corporate, Non-Segment [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2.2 | 7.3 | |||
Other non-606 revenue | 0.5 | 1.9 | |||
Other Revenues [Member] | Adjustments and Eliminations [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | |||
Other non-606 revenue | (0.5) | (1.9) | |||
Other Revenues [Member] | Utility [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | |||
Other non-606 revenue | 0 | 0 | |||
Wholesale Revenue [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 10.5 | 41.3 | |||
Wholesale Revenue [Member] | Corporate, Non-Segment [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 5.6 | 16.7 | |||
Wholesale Revenue [Member] | Adjustments and Eliminations [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | |||
Wholesale Revenue [Member] | Utility [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 4.9 | 24.6 | |||
Wholesale Revenue [Member] | Subsidiaries [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 4.9 | 24.6 | |||
Retail Revenue [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 168 | 468.5 | |||
Other non-606 revenue | 12.6 | 31.4 | |||
Retail Revenue [Member] | Corporate, Non-Segment [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | |||
Other non-606 revenue | 0 | 0 | |||
Retail Revenue [Member] | Adjustments and Eliminations [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | (0.4) | (0.8) | |||
Other non-606 revenue | 0 | 0 | |||
Retail Revenue [Member] | Utility [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 168.4 | 469.3 | |||
Other non-606 revenue | 12.6 | 31.4 | |||
Retail Revenue [Member] | Subsidiaries [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 168.4 | 469.3 | |||
Other non-606 revenue | $ 12.6 | $ 31.4 |
Dispositions (Details)
Dispositions (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Gain (Loss) on Disposition of Business | $ (13.2) | $ 0 | ||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | $ 19.8 | $ (2.7) | 13.7 | (12.8) |
Property, Plant and Equipment, Additions | 25.1 | 29.2 | 75.8 | 95.6 |
Impairment of Long-Lived Assets Held-for-use | 2.8 | 66.4 | ||
Beckjord [Member] | ||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | (11.7) | |||
Property, Plant and Equipment, Additions | 14.5 | |||
Subsidiaries [Member] | ||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Gain (Loss) on Disposition of Business | 0 | 0 | (12.4) | 0 |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | $ 37.5 | $ 20 | 73.9 | 60.1 |
Impairment of Long-Lived Assets Held-for-use | 0 | $ 66.3 | ||
Subsidiaries [Member] | Beckjord [Member] | ||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | (12.4) | |||
Property, Plant and Equipment, Additions | $ 14.5 |
Fixed-asset Impairment Fixed-as
Fixed-asset Impairment Fixed-asset Impairment (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Impairment of Long-Lived Assets Held-for-use | $ 2.8 | $ 66.4 |
THE DAYTON POWER AND LIGHT COMPANY [Member] | ||
Impairment of Long-Lived Assets Held-for-use | $ 0 | $ 66.3 |
Generation Separation (Details)
Generation Separation (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Disposal Group, Including Discontinued Operation, Interest Expense | $ 0 | $ 0.2 | |||
Long Term Indebtedness, Less than or Equal to | 750 | $ 750 | |||
Cash Provided by (Used in) Operating Activities, Discontinued Operations | $ (7.2) | 27.1 | $ 51.9 | 38.5 | |
Cash Provided by (Used in) Investing Activities, Discontinued Operations | 0 | 4.1 | 233.8 | (13.9) | |
Disposal Group, Including Discontinued Operation, Revenue | 15.6 | 132.1 | 141.8 | 384.2 | |
Disposal Group, Including Discontinued Operation, Costs of Goods Sold | (6.8) | (63.3) | (67.4) | (198.5) | |
Disposal Group, Including Discontinued Operation, Operating and Other Expenses | (3.8) | (38) | (37.7) | (152.9) | |
Disposal Group, Including Discontinued Operation, Fixed-Asset Impairment | 0 | 0 | 0 | (66.4) | |
Income / (loss) from discontinued operations before income tax | 5 | 30.8 | 36.7 | (33.6) | |
Discontinued Operation, Tax Effect of Discontinued Operation | 1 | 7.9 | 5.9 | (12.1) | |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | 4.3 | 22.9 | 29.2 | $ (21.5) | |
Debt Percentage of Rate Base | 75.00% | ||||
Subsidiaries [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Disposal Group, Including Discontinued Operation, Interest Expense | 0 | $ 0.2 | |||
Long Term Indebtedness, Less than or Equal to | 750 | 750 | |||
Income / (loss) from discontinued operations before income tax | 0 | 21.2 | 0 | (56.3) | |
Discontinued Operation, Tax Effect of Discontinued Operation | 0 | 12.8 | 0 | (10.7) | |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | 0 | 8.4 | 0 | $ (45.6) | |
Debt Percentage of Rate Base | 75.00% | ||||
Long-term Debt, Gross | $ 594.9 | $ 594.9 | $ 594.9 | ||
Generation [Member] | Subsidiaries [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Cash Provided by (Used in) Operating Activities, Discontinued Operations | 8.8 | $ 16.6 | |||
Cash Provided by (Used in) Investing Activities, Discontinued Operations | 7.1 | (3.5) | |||
Disposal Group, Including Discontinued Operation, Revenue | 121.5 | 358.4 | |||
Disposal Group, Including Discontinued Operation, Costs of Goods Sold | (62) | (191.6) | |||
Disposal Group, Including Discontinued Operation, Operating and Other Expenses | (38.3) | (156.8) | |||
Disposal Group, Including Discontinued Operation, Fixed-Asset Impairment | 0 | (66.3) | |||
Income / (loss) from discontinued operations before income tax | 21.2 | (56.3) | |||
Discontinued Operation, Tax Effect of Discontinued Operation | 12.8 | (10.7) | |||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | 8.4 | (45.6) | |||
Utility [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Long-term Debt, Gross | 750 | 750 | |||
Utility [Member] | Subsidiaries [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Long-term Debt, Gross | $ 750 | $ 750 |
Discontinued Operations (Detail
Discontinued Operations (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Dec. 31, 2017 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | $ 0.3 | $ 0 | $ (1.6) | $ 0 | ||
Long Term Indebtedness, Less than or Equal to | 750 | $ 750 | ||||
Disposal Group, Including Discontinued Operation, Revenue | 15.6 | 132.1 | 141.8 | 384.2 | ||
Disposal Group, Including Discontinued Operation, Restricted Cash | 0 | 0 | 0 | $ 1.5 | ||
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | 6.2 | 6.2 | 6.2 | 37.9 | ||
Disposal Group, Including Discontinued Operation, Inventory | 0.1 | 0.1 | 0.1 | 19.4 | ||
Disposal Group, Including Discontinued Operations, Taxes Applicable to Subsequent Years | 0.1 | 0.1 | 0.1 | 7.4 | ||
Disposal Group, Including Discontinued Operation, Other Assets, Current | 3.1 | 3.1 | 3.1 | 17.4 | ||
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment | 1.8 | 1.8 | 1.8 | 233.9 | ||
Disposal Group, Including Discontinued Operation, Intangible Assets | 6.2 | 6.2 | 6.2 | 5.5 | ||
Disposal Group, Including Discontinued Operation, Other Assets, Noncurrent | 0 | 0 | 0 | 0.6 | ||
Disposal Group, Including Discontinued Operation, Assets | 17.5 | 17.5 | 17.5 | 323.6 | ||
Disposal Group, Including Discontinued Operation, Accounts Payable | 7.7 | 7.7 | 7.7 | 25.1 | ||
Disposal Group, Including Discontinued Operation, Accrued Income Tax Payable | 5.1 | 5.1 | 5.1 | 6.3 | ||
Disposal Group, Including Discontinued Operation, Other Liabilities, Current | 7.1 | 7.1 | 7.1 | 30 | ||
Disposal Group, Including Discontinued Operations, Long-Term Debt | 0 | 0 | 0 | 0.3 | ||
Disposal Group, Including Discontinued Operation, Deferred Tax Liabilities | (14.1) | (14.1) | (14.1) | (17.4) | ||
Disposal Group, Including Discontinued Operation, Taxes Payable | 0 | 0 | 0 | 7.4 | ||
Disposal Group, Including Discontinued Operation, Pension Plan Benefit Obligation | 9.7 | 9.7 | 9.7 | 10.6 | ||
Asset Retirement Obligation, Held for Sale | 117.2 | 117.2 | 117.2 | 116.6 | ||
Disposal Group, Including Discontinued Operation, Other Liabilities, Noncurrent | 5.8 | 5.8 | 5.8 | 5.9 | ||
Disposal Group, Including Discontinued Operation, Liabilities | 138.5 | 138.5 | 138.5 | $ 184.8 | ||
Disposal Group, Including Discontinued Operation, Costs of Goods Sold | (6.8) | (63.3) | (67.4) | (198.5) | ||
Disposal Group, Including Discontinued Operation, Operating and Other Expenses | (3.8) | (38) | (37.7) | $ (152.9) | ||
Debt Percentage of Rate Base | 75.00% | |||||
Disposal Group, Including Discontinued Operation, Interest Expense | 0 | $ 0.2 | ||||
Disposal Group, Including Discontinued Operation, Fixed-Asset Impairment | 0 | 0 | 0 | (66.4) | ||
Loss from discontinued operations before income taxes | 5 | 30.8 | 36.7 | (33.6) | ||
Income tax expense / (benefit) from discontinued operations | 1 | 7.9 | 5.9 | (12.1) | ||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | 4.3 | 22.9 | 29.2 | (21.5) | ||
Cash Provided by (Used in) Operating Activities, Discontinued Operations | (7.2) | 27.1 | 51.9 | 38.5 | ||
Cash flows from investing activities for discontinued operations | 0 | 4.1 | 233.8 | (13.9) | ||
Subsidiaries [Member] | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Long Term Indebtedness, Less than or Equal to | $ 750 | 750 | ||||
Debt Percentage of Rate Base | 75.00% | |||||
Long-term Debt, Gross | 594.9 | 594.9 | $ 594.9 | |||
Disposal Group, Including Discontinued Operation, Interest Expense | 0 | $ 0.2 | ||||
Loss from discontinued operations before income taxes | 0 | 21.2 | 0 | (56.3) | ||
Income tax expense / (benefit) from discontinued operations | 0 | 12.8 | 0 | (10.7) | ||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | $ 0 | 8.4 | 0 | (45.6) | ||
Generation [Member] | Subsidiaries [Member] | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Disposal Group, Including Discontinued Operation, Revenue | 121.5 | 358.4 | ||||
Disposal Group, Including Discontinued Operation, Costs of Goods Sold | (62) | (191.6) | ||||
Disposal Group, Including Discontinued Operation, Operating and Other Expenses | (38.3) | (156.8) | ||||
Disposal Group, Including Discontinued Operation, Fixed-Asset Impairment | 0 | (66.3) | ||||
Loss from discontinued operations before income taxes | 21.2 | (56.3) | ||||
Income tax expense / (benefit) from discontinued operations | 12.8 | (10.7) | ||||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | 8.4 | (45.6) | ||||
Cash Provided by (Used in) Operating Activities, Discontinued Operations | 8.8 | 16.6 | ||||
Cash flows from investing activities for discontinued operations | 7.1 | (3.5) | ||||
Utility [Member] | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Long-term Debt, Gross | 750 | 750 | ||||
Utility [Member] | Subsidiaries [Member] | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Long-term Debt, Gross | $ 750 | $ 750 | ||||
AES Ohio Generation peakers [Member] | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | $ (1.9) |
Held for Sale (Details)
Held for Sale (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | $ 19.8 | $ (2.7) | $ 13.7 | $ (12.8) | |
Asset Retirement Obligation, Held for Sale | 117.2 | 117.2 | $ 116.6 | ||
Subsidiaries [Member] | |||||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | $ 37.5 | $ 20 | $ 73.9 | $ 60.1 |