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90144_12_item7_p365_s2 | 90144_11_item7_p140_s2 | However, if energy costs rise at a rapid rate and the Utilities do not recover the cost of fuel, purchased power and operating costs in a timely manner or the Utilities were to experience a credit rating downgrade resulting in the posting of collateral as discussed below under Gas Supplier Matters and Financial Gas Hed... | However, if energy costs rise at a rapid rate and SPPC does not recover the cost of fuel and purchased power in a timely manner, if operating costs are not recovered in a timely manner or SPPC were to experience a credit rating downgrade resulting in the posting of collateral as discussed below under Gas Supplier Matte... | 2 | [
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90144_12_item7_p370_s1 | 90144_11_item7_p144_s1 | In addition to operating expenses, NVE has continuing commitments for capital expenditures for construction, improvement and maintenance of facilities. | In addition to operating expenses, SPPC has continuing commitments for capital expenditures for construction, improvement and maintenance of facilities. | 2 | [
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90144_12_item7_p252_s0 | 90144_11_item7_p146_s0 | NVE s actual capital structure on a consolidated basis was as follows at December 31 (dollars in thousands): | NPC s actual consolidated capital structure was as follows at December 31 (dollars in thousands): | 2 | [
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90144_12_item7_p372_s0 | 90144_11_item7_p146_s0 | NVE s actual capital structure on a consolidated basis was as follows at December 31 (dollars in thousands): | SPPC s actual consolidated capital structure was as follows at December 31 (dollars in thousands): | 2 | [
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90144_12_item7_p253_s4 | 90144_11_item7_p147_s3 | To fund future capital projects, NVE and the Utilities may meet such financial obligations with a combination of internally generated funds, the use of the Utilities revolving credit facilities, the issuance of long-term debt, and if necessary, the issuance of equity by NVE. | To fund future capital projects NPC may meet such financial obligations with a combination of internally generated funds, the use of its revolving credit facilities, the issuance of long-term debt, and if necessary, capital contributions from NVE. | 2 | [
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90144_12_item7_p254_s0 | 90144_11_item7_p150_s0 | The table below provides NVE s contractual obligations on a consolidated basis, as of December 31, 2010, (except as otherwise indicated) that NVE expects to satisfy through a combination of internally generated cash and, as necessary, through the issuance of short-term and long-term debt. | The table below provides NPC s consolidated contractual obligations, as of December 31, 2011, that NPC expects to satisfy through a combination of internally generated cash and, as necessary, through the issuance of short-term and long-term debt. | 2 | [
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90144_12_item7_p374_s0 | 90144_11_item7_p150_s0 | The table below provides NVE s contractual obligations on a consolidated basis, as of December 31, 2010, (except as otherwise indicated) that NVE expects to satisfy through a combination of internally generated cash and, as necessary, through the issuance of short-term and long-term debt. | The table below provides SPPC s consolidated contractual obligations, as of December 31, 2011, that SPPC expects to satisfy through a combination of internally generated cash and, as necessary, through the issuance of short-term and long-term debt. | 2 | [
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90144_12_item7_p375_s0 | 90144_11_item7_p151_s0 | Certain contracts contain variable factors which required NVE to estimate the obligation depending on the final variable amount. | Certain contracts contain variable factors which required SPPC to estimate the obligation depending on the final variable amount. | 2 | [
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90144_12_item7_p255_s2 | 90144_11_item7_p151_s2 | Additionally, at December 31, 2010, NVE has recorded an uncertain tax liability of $35.7 million in accordance with the accounting guidance for Uncertainty in Income Taxes Topic of the FASC all of which is classified as non-current. | Additionally, at December 31, 2011, NPC has recorded an uncertain tax liability of $24.3 million as required by the accounting guidance for Uncertainty in Income Taxes Topic of the FASC, all of which is classified as non-current. | 2 | [
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90144_12_item7_p159_s0 | 90144_11_item7_p159_s2 | See NPC s and SPPC s Ability to Issue Debt sections for further discussion of the Utilities limitations on ability to issue debt. | NPC s and SPPC s Ability to Issue Debt sections further discuss their limitations on their ability to issue debt. | 2 | [
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90144_12_item7_p192_s0 | 90144_11_item7_p15_s2 | See Note 2, Segment Information, of the Notes to Financial Statements. | For reconciliation to operating income, see Note 2, Segment Information, of the Notes to Financial Statements. | 2 | [
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90144_12_item7_p275_s0 | 90144_11_item7_p169_s0 | The liquidity of NVE and the Utilities, the cost and availability of borrowing by the Utilities under their respective credit facilities, the potential exposure of the Utilities to collateral calls under various contracts and the ability of the Utilities to acquire fuel and purchased power on favorable terms are all di... | The liquidity of NPC, the cost and availability of borrowing by NPC under its credit facility, the potential exposure of NPC to collateral calls under various contracts and the ability of NPC to acquire fuel and purchased power on favorable terms are all directly affected by the credit ratings for NPC s debt. | 2 | [
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90144_12_item7_p400_s0 | 90144_11_item7_p170_s0 | Fitch s, Moody s and S P s rating outlook for NVE, NPC and SPPC is Stable. | Fitch s, Moody s and S P s rating outlook for SPPC is Stable. | 2 | [
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90144_12_item7_p402_s0 | 90144_11_item7_p172_s0 | Each security rating agency has its own methodology for assigning ratings, and, accordingly, each rating should be evaluated in the context of the applicable methodology, independently of all other ratings. | ratings, and, accordingly, each rating should be evaluated in the context of the applicable methodology, independently of all other ratings. | 2 | [
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90144_12_item7_p180_s0 | 90144_11_item7_p176_s0 | Most contracts and confirmations for purchased power have been modified or separate agreements have been made to either shorten the normal payment due date or require payment in advance of delivery in response to requests for financial assurance. | Most contracts and confirmations for natural gas purchases have been modified or separate agreements have been made to either shorten the normal payment due date or require payment in advance of delivery in response to requests for financial assurances. | 2 | [
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90144_12_item7_p413_s1 | 90144_11_item7_p184_s2 | In addition, certain financing agreements of each of NVE and the Utilities provide for an event of default if there is a failure under other financing agreements of that entity to meet payment terms or to observe other covenants that would result in an acceleration of payments due. | In addition, certain financing agreements of SPPC provide for an event of default if there is a failure under other financing agreements of SPPC to meet payment terms or to observe other covenants that would result in an acceleration of payments due. | 2 | [
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90144_12_item7_p297_s0 | 90144_11_item7_p186_s0 | Gross margin is presented by NPC in order to provide information that management believes aids the reader in determining how profitable the electric business is at the most fundamental level. | Gross margin is presented by SPPC in order to provide information that management believes aids the reader in determining how profitable the electric business is at the most fundamental level. | 2 | [
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90144_12_item7_p189_s2 | 90144_11_item7_p189_s0 | Gross margin, which NPC calculates as operating revenues less energy costs, provides a measure of income available to support the other operating expenses of NPC. | Gross margin, which NPC calculates as operating revenues less energy costs and EEPR costs provides a measure of income available to support the other operating expenses of NPC. | 2 | [
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90144_12_item7_p199_s1 | 90144_11_item7_p192_s1 | Partially offsetting the increase in gross margin was a decrease in usage per customer due to conservation programs, economic conditions and hotter than normal weather in May 2009. | Also contributing to the decrease was a decrease in customer usage due to conservation programs, economic conditions and hotter than normal weather in May 2009. | 2 | [
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90144_12_item7_p217_s2 | 90144_11_item7_p210_s1 | This increase was partially offset by planned maintenance outages that occurred in 2009 at the Reid Gardner and Clark Generating Stations. | This decrease was partially offset by planned maintenance outages that occurred in 2011 at the Reid Gardner and Harry Allen Generating Stations. | 2 | [
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90144_12_item7_p222_s2 | 90144_11_item7_p214_s2 | See Note 6, Long Te rm Debt , for further discussion. | See Note 6, Long-Term Debt , for further discussion. | 2 | [
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90144_12_item7_p223_s2 | 90144_11_item7_p217_s1 | See Note 3, Regulatory Actions , for further details of deferred energy balances. | See Note 3, Regulatory Actions , for further details of deferred energy balances and discussion of the deferred rate increase under NPC s 2008 GRC. | 2 | [
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90144_12_item7_p353_s0 | 90144_11_item7_p225_s0 | NPC s cash flows increased during 2010 compared to 2009 due to an increase in cash from operating activities and a reduction in cash used for investing activities, partially offset by a decrease in cash from financing activities. | SPPC s cash flows increased during 2010 compared to 2009 due to a reduction in cash used by investing activities offset by a decrease in cash from operating activities and a decrease in cash from financing activities. | 2 | [
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90144_12_item7_p357_s0 | 90144_11_item7_p229_s0 | NPC s primary source of operating cash flows is electric revenues, including the recovery of previously deferred energy costs. | SPPC s primary source of operating cash flows is electric and natural gas revenues, including the recovery of previously deferred energy costs. | 2 | [
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90144_12_item7_p136_s0 | 90144_11_item7_p233_s0 | NPC attempts to maintain its cash and cash equivalents in highly liquid investments, such as U.S. Treasury Bills and bank deposits. | NVE and the Utilities attempt to maintain their cash and cash equivalents in highly liquid investments, such as U.S. Treasury Bills and bank deposits. | 2 | [
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90144_12_item7_p362_s1 | 90144_11_item7_p233_s1 | In addition to cash on hand, NPC may use its revolving credit facility in order to meet its liquidity needs. | In addition to cash on hand, SPPC may use its revolving credit facility in order to meet its liquidity needs. | 2 | [
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90144_12_item7_p362_s2 | 90144_11_item7_p233_s2 | Alternatively, depending on the usage of the revolving credit facility, NPC may issue debt, subject to certain restrictions as discussed in Factors Affecting Liquidity , Ability to Issue Debt , below. | Alternatively, depending on the usage of the revolving credit facility, SPPC may issue debt, subject to certain restrictions as discussed in Factors Affecting Liquidity , Ability to Issue Debt, below. | 2 | [
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90144_12_item7_p364_s0 | 90144_11_item7_p234_s2 | As of February 23, 2011, NPC has no borrowings on its revolving credit facility, not including letters of credit. | As of February 22, 2012, SPPC has no borrowings on its revolving credit facility, not including letters of credit. | 2 | [
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90144_12_item7_p138_s2 | 90144_11_item7_p235_s2 | However, if energy costs rise at a rapid rate and NPC does not recover the cost of fuel and purchased power in a timely manner, if operating costs are not recovered in a timely manner or NPC were to experience a credit rating downgrade resulting in the posting of collateral as discussed below under Gas Supplier Matters... | However, if energy costs rise at a rapid rate and the Utilities do not recover the cost of fuel, purchased power and operating costs in a timely manner or the Utilities were to experience a credit rating downgrade resulting in the posting of collateral as discussed below under Gas Supplier Matters and Financial Gas Hed... | 2 | [
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90144_12_item7_p139_s2 | 90144_11_item7_p237_s2 | However, disruptions in the banking and capital markets not specifically related to NPC may affect its ability to access funding sources or cause an increase in the interest rates paid on newly issued debt. | However, disruptions in the banking and capital markets not specifically related to NVE or the Utilities may affect their ability to access funding sources or cause an increase in the interest rates paid on newly issued debt. | 2 | [
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90144_12_item7_p368_s2 | 90144_11_item7_p237_s2 | However, disruptions in the banking and capital markets not specifically related to NPC may affect its ability to access funding sources or cause an increase in the interest rates paid on newly issued debt. | However, disruptions in the banking and capital markets not specifically related to SPPC may affect its ability to access funding sources or cause an increase in the interest rates paid on newly issued debt. | 2 | [
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90144_12_item7_p370_s0 | 90144_11_item7_p239_s0 | NPC designs operating and capital budgets to control operating costs and capital expenditures. | SPPC designs operating and capital budgets to control operating costs and capital expenditures. | 2 | [
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90144_12_item7_p141_s1 | 90144_11_item7_p239_s1 | In addition to operating expenses, NPC has continuing commitments for capital expenditures for construction, improvement and maintenance of facilities. | In addition to operating expenses, NVE has continuing commitments for capital expenditures for construction, improvement and maintenance of facilities. | 2 | [
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90144_12_item7_p370_s1 | 90144_11_item7_p239_s1 | In addition to operating expenses, NPC has continuing commitments for capital expenditures for construction, improvement and maintenance of facilities. | In addition to operating expenses, SPPC has continuing commitments for capital expenditures for construction, improvement and maintenance of facilities. | 2 | [
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90144_12_item7_p371_s0 | 90144_11_item7_p240_s0 | Detailed below are NPC s Capital Structure, Capital Requirements, recently completed Financing Transactions and Factors Affecting Liquidity, including our ability to obtain debt on favorable terms. | Detailed below are SPPC s Capital Structure, Capital Requirements, recently completed Financing Transactions and Factors Affecting Liquidity, including its ability to obtain debt on favorable terms. | 2 | [
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90144_12_item7_p143_s0 | 90144_11_item7_p241_s0 | NPC s actual consolidated capital structure was as follows at December 31 (dollars in thousands): | NVE s actual capital structure on a consolidated basis was as follows at December 31 (dollars in thousands): | 2 | [
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90144_12_item7_p147_s0 | 90144_11_item7_p243_s0 | The table below provides NPC s consolidated contractual obligations, as of December 31, 2010, that NPC expects to satisfy through a combination of internally generated cash and, as necessary, through the issuance of short-term and long-term debt. | The table below provides NVE s contractual obligations on a consolidated basis, as of December 31, 2011, (except as otherwise indicated) that NVE expects to satisfy through a combination of internally generated cash and, as necessary, through the issuance of short-term and long-term debt. | 2 | [
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90144_12_item7_p374_s0 | 90144_11_item7_p243_s0 | The table below provides NPC s consolidated contractual obligations, as of December 31, 2010, that NPC expects to satisfy through a combination of internally generated cash and, as necessary, through the issuance of short-term and long-term debt. | The table below provides SPPC s consolidated contractual obligations, as of December 31, 2011, that SPPC expects to satisfy through a combination of internally generated cash and, as necessary, through the issuance of short-term and long-term debt. | 2 | [
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90144_12_item7_p148_s0 | 90144_11_item7_p244_s0 | Certain contracts contain variable factors which required NPC to estimate the obligation depending on the final variable amount. | Certain contracts contain variable factors which required NVE to estimate the obligation depending on the final variable amount. | 2 | [
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90144_12_item7_p375_s0 | 90144_11_item7_p244_s0 | Certain contracts contain variable factors which required NPC to estimate the obligation depending on the final variable amount. | Certain contracts contain variable factors which required SPPC to estimate the obligation depending on the final variable amount. | 2 | [
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90144_12_item7_p148_s2 | 90144_11_item7_p245_s1 | Additionally, at December 31, 2010, NPC has recorded an uncertain tax liability of $25.5 million as required by the accounting guidance for Uncertainty in Income Taxes Topic of the FASC, all of which is classified as non-current. | Additionally, at December 31, 2011, NVE has recorded an uncertain tax liability of $34.1 million in accordance with the accounting guidance for Uncertainty in Income Taxes Topic of the FASC all of which is classified as non-current. | 2 | [
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90144_12_item7_p375_s2 | 90144_11_item7_p245_s1 | Additionally, at December 31, 2010, NPC has recorded an uncertain tax liability of $25.5 million as required by the accounting guidance for Uncertainty in Income Taxes Topic of the FASC, all of which is classified as non-current. | Additionally, at December 31, 2011, SPPC recorded an uncertain tax liability of $9.8 million as required by the accounting guidance for Uncertainty in Income Taxes Topic of the FASC, all of which is classified as non-current. | 2 | [
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90144_12_item7_p148_s3 | 90144_11_item7_p245_s2 | NPC is unable to make a reasonably reliable estimate of the period of cash payments to relevant tax authorities; consequently, none of the uncertain tax liability is included in the contractual obligations table below (dollars in thousands): | NVE is unable to make a reasonably reliable estimate of the period of cash payments to relevant tax authorities; consequently, none of the uncertain tax liability is included in the contractual obligations table below (dollars in millions): | 2 | [
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