Pension Plans And Other Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2012

Pension and Other Post Retirement Benefit Plans

	Pension Benefits						Other Post- retirement Benefits
	2012			2011			2012			2011
Change in benefit obligation:
Benefit obligation as of beginning of year	$	494,192		$	433,491		$	104,730		$	60,339
Service cost	15,551			12,936			2,804			1,805
Interest cost	24,349			24,134			5,056			4,126
Actuarial loss	72,170			44,148			24,543			42,476
Transfer of accrued vacation	—			—			336			450
Benefits paid	(21,643		)	(20,517		)	(4,928		)	(4,466		)
Benefit obligation as of end of year	$	584,619		$	494,192		$	132,541		$	104,730
Change in plan assets:
Fair value of plan assets as of beginning of year	$	328,150		$	306,712		$	22,455		$	22,875
Actual return on plan assets	54,318			14,705			2,833			(420		)
Employer contributions	44,000			26,000			—			—
Benefits paid	(20,407		)	(19,267		)	—			—
Fair value of plan assets as of end of year	$	406,061		$	328,150		$	25,288		$	22,455
Funded status	$	(178,558	)	$	(166,042	)	$	(107,253	)	$	(82,275	)
Unrecognized net actuarial loss	223,308			192,883			94,202			76,187
Unrecognized prior service cost	319			665			(856		)	(1,005		)
Unrecognized net transition obligation	—			—			—			505
Prepaid (accrued) benefit cost	45,069			27,506			(13,907		)	(6,588		)
Additional liability	(223,627		)	(193,548		)	(93,346		)	(75,687		)
Accrued benefit liability	$	(178,558	)	$	(166,042	)	$	(107,253	)	$	(82,275	)
Accumulated pension benefit obligation	$	505,695		$	429,135		—			—
Accumulated postretirement benefit obligation:
For retirees							$	49,232		$	39,470
For fully eligible employees							$	35,570		$	29,597
For other participants							$	47,739		$	35,663
Included in accumulated comprehensive loss (income) (net of tax):
Unrecognized net transition obligation	$	—		$	—		$	—		$	328
Unrecognized prior service cost	207			433			(556		)	(653		)
Unrecognized net actuarial loss	145,150			125,374			61,231			49,522
Total	145,357			125,807			60,675			49,197
Less regulatory asset	(138,184		)	(119,360		)	(60,981		)	(49,873		)
Accumulated other comprehensive loss (income)	$	7,173		$	6,447		$	(306	)	$	(676	)

	Pension Benefits				Other Post- retirement Benefits
	2012		2011		2012		2011
Weighted average assumptions as of December 31:
Discount rate for benefit obligation	4.15	%	5.04	%	4.15	%	4.98	%
Discount rate for annual expense	5.04	%	5.68	%	4.98	%	5.53	%
Expected long-term return on plan assets	6.95	%	7.40	%	6.55	%	7.00	%
Rate of compensation increase	4.89	%	4.87	%
Medical cost trend pre-age 65 – initial					7.00	%	7.50	%
Medical cost trend pre-age 65 – ultimate					5.00	%	5.00	%
Ultimate medical cost trend year pre-age 65					2019		2017
Medical cost trend post-age 65 – initial					7.50	%	8.00	%
Medical cost trend post-age 65 – ultimate					5.00	%	6.00	%
Ultimate medical cost trend year post-age 65					2021		2018

Components of Net Periodic Benefit Cost

	Pension Benefits									Other Post-retirement Benefits
	2012			2011			2010			2012			2011			2010
Components of net periodic benefit cost:
Service cost	$	15,551		$	12,936		$	11,609		$	2,804		$	1,805		$	684
Interest cost	24,349			24,134			23,231			5,056			4,126			2,624
Expected return on plan assets	(23,810		)	(23,115		)	(21,381		)	(1,471		)	(1,601		)	(1,581		)
Transition obligation recognition	—			—			—			505			505			505
Amortization of prior service cost	346			475			650			(149		)	(149		)	(149		)
Net loss recognition	11,637			9,493			7,189			5,020			3,458			1,379
Net periodic benefit cost	$	28,073		$	23,923		$	21,298		$	11,765		$	8,144		$	3,462

Investment Allocation Percentages By Asset Classes

The Finance Committee has established target investment allocation percentages by asset classes as indicated in the table below:

	2012		2011
Equity securities	51	%	51	%
Debt securities	31	%	31	%
Real estate	5	%	5	%
Absolute return	10	%	10	%
Other	3	%	3	%

Changes in The Fair Value of The Pension Plan's Level 3 Assets

The table below discloses the summary of changes in the fair value of the pension plan’s Level 3 assets for the year ended December 31, 2012 (dollars in thousands):

	Common/collective trusts		Partnership/closely held investments
	Real estate		Absolute return		Private equity funds
Balance, as of January 1, 2012	$	8,598	$	16,587	$	808
Realized gains	411		—		108
Unrealized gains (losses)	1,087		1,168		80
Purchases (sales), net	7,500		—		(336		)
Balance, as of December 31, 2012	$	17,596	$	17,755	$	660

The table below discloses the summary of changes in the fair value of the pension plan’s Level 3 assets for the year ended December 31, 2011 (dollars in thousands):

	Common/collective trusts					Partnership/closely held investments
	Absolute return			Real estate		Absolute return			Private equity funds
Balance, as of January 1, 2011	$	95		$	423	$	16,917		$	1,272
Realized gains (losses)	(748		)	22		—			373
Unrealized gains (losses)	746			1,098		(330		)	(218		)
Purchases (sales), net	(93		)	7,055		—			(619		)
Balance, as of December 31, 2011	$	—		$	8,598	$	16,587		$	808

Employer Matching Contributions

Employer matching contributions were as follows for the years ended December 31 (dollars in thousands):

	2012		2011		2010
Employer 401(k) matching contributions	$	8,168	$	7,027	$	5,405

Deferred Compensation Liabilities Included in other Non-Current Liabilities and Deferred Credits

There were deferred compensation assets included in other property and investments-net and corresponding deferred compensation liabilities included in other non-current liabilities and deferred credits on the Consolidated Balance Sheets of the following amounts as of December 31 (dollars in thousands):

	2012		2011
Deferred compensation assets and liabilities	$	8,806	$	8,653

Pension Plan And SERP [Member]

Schedule of Expected Benefit Payments

The Company expects that benefit payments under the pension plan and the SERP will total (dollars in thousands):

	2013		2014		2015		2016		2017		Total 2018-2022
Expected benefit payments	$	24,504	$	24,280	$	25,434	$	26,567	$	27,797	$	162,488

Other Post-Retirement Benefits [Member]

Schedule of Expected Benefit Payments

The Company expects that benefit payments under other postretirement benefit plans will total (dollars in thousands):

	2013		2014		2015		2016		2017		Total 2018-2022
Expected benefit payments	$	6,099	$	6,160	$	6,261	$	6,389	$	6,571	$	36,342

Schedule of Allocation of Plan Assets

The following table discloses by level within the fair value hierarchy (see Note 17 for a description of the fair value hierarchy) of other postretirement plan assets measured and reported as of December 31, 2012 at fair value (dollars in thousands):

	Level 1		Level 2		Level 3		Total
Cash equivalents	$	—	$	6	$	—	$	6
Mutual funds:
Fixed income securities	9,314		—		—		9,314
U.S. equity securities	10,266		—		—		10,266
International equity securities	5,702		—		—		5,702
Total	$	25,282	$	6	$	—	$	25,288

The following table discloses by level within the fair value hierarchy (see Note 17 for a description of the fair value hierarchy) of other postretirement plan assets measured and reported as of December 31, 2011 at fair value (dollars in thousands):

	Level 1		Level 2		Level 3		Total
Cash equivalents	$	—	$	86	$	—	$	86
Mutual funds:
Fixed income securities	8,683		—		—		8,683
U.S. equity securities	7,278		—		—		7,278
International equity securities	4,766		—		—		4,766
U.S. equity securities	1,569		—		—		1,569
Other	73		—		—		73
Total	$	22,369	$	86	$	—	$	22,455

Pension Benefits [Member]

Schedule of Allocation of Plan Assets

The following table discloses by level within the fair value hierarchy (see Note 17 for a description of the fair value hierarchy) of the pension plan’s assets measured and reported as of December 31, 2012 at fair value (dollars in thousands):

	Level 1		Level 2		Level 3		Total
Mutual funds:
Fixed income securities	$	83,037	$	—	$	—	$	83,037
U.S. equity securities	135,436		—		—		135,436
International equity securities	79,448		—		—		79,448
Absolute return (1)	20,764		—		—		20,764
Commodities (2)	8,258		—		—		8,258
Common/collective trusts:
Fixed income securities	—		43,107		—		43,107
Real estate	—		—		17,596		17,596
Partnership/closely held investments:
Absolute return (1)	—		—		17,755		17,755
Private equity funds (3)	—		—		660		660
Total	$	326,943	$	43,107	$	36,011	$	406,061

The following table discloses by level within the fair value hierarchy (see Note 17 for a description of the fair value hierarchy) of the pension plan’s assets measured and reported as of December 31, 2011 at fair value (dollars in thousands):

	Level 1		Level 2		Level 3		Total
Cash equivalents	$	—	$	7,550	$	—	$	7,550
Mutual funds:
Fixed income securities	76,486		—		—		76,486
U.S. equity securities	102,790		—		—		102,790
International equity securities	52,241		—		—		52,241
Absolute return (1)	16,121		—		—		16,121
Commodities (2)	6,526		—		—		6,526
Common/collective trusts:
Fixed income securities	—		27,774		—		27,774
U.S. equity securities	—		12,669		—		12,669
Real estate	—		—		8,598		8,598
Partnership/closely held investments:
Absolute return (1)	—		—		16,587		16,587
Private equity funds (3)	—		—		808		808
Total	$	254,164	$	47,993	$	25,993	$	328,150

(1) This category invests in multiple strategies to diversify risk and reduce volatility. The strategies include: (a) event driven, relative value, convertible, and fixed income arbitrage, (b) distressed investments, (c) long/short equity and fixed income, and (d) market neutral strategies.

(2) The fund primarily invests in derivatives linked to commodity indices to gain exposure to the commodity markets. The fund manager fully collateralizes these positions with debt securities.

(3) This category includes private equity funds that invest primarily in U.S. companies.