Pension Plans And Other Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2013

Pension and Other Post Retirement Benefit Plans

	Pension Benefits						Other Post- retirement Benefits
	2013			2012			2013			2012
Change in benefit obligation:
Benefit obligation as of beginning of year	$	584,619		$	494,192		$	132,541		$	104,730
Service cost	19,045			15,551			4,144			2,804
Interest cost	23,896			24,349			5,216			5,056
Actuarial (gain)/loss	(78,234		)	72,170			(18,017		)	24,543
Plan change	277			—			(10,788		)	—
Transfer of accrued vacation	—			—			1,189			336
Benefits paid	(22,599		)	(21,643		)	(6,036		)	(4,928		)
Benefit obligation as of end of year	$	527,004		$	584,619		$	108,249		$	132,541
Change in plan assets:
Fair value of plan assets as of beginning of year	$	406,061		$	328,150		$	25,288		$	22,455
Actual return on plan assets	52,502			54,318			4,444			2,833
Employer contributions	44,263			44,000			—			—
Benefits paid	(21,324		)	(20,407		)	—			—
Fair value of plan assets as of end of year	$	481,502		$	406,061		$	29,732		$	25,288
Funded status	$	(45,502	)	$	(178,558	)	$	(78,517	)	$	(107,253	)
Unrecognized net actuarial loss	107,043			223,308			56,885			94,202
Unrecognized prior service cost	278			319			(707		)	(856		)
Prepaid (accrued) benefit cost	61,819			45,069			(22,339		)	(13,907		)
Additional liability	(107,321		)	(223,627		)	(56,178		)	(93,346		)
Accrued benefit liability	$	(45,502	)	$	(178,558	)	$	(78,517	)	$	(107,253	)
Accumulated pension benefit obligation	$	464,432		$	505,695		—			—
Accumulated postretirement benefit obligation:
For retirees							$	52,384		$	49,232
For fully eligible employees							$	24,320		$	35,570
For other participants							$	31,545		$	47,739
Included in accumulated other comprehensive loss (income) (net of tax):
Unrecognized prior service cost	$	180		$	207		$	(7,472	)	$	(556	)
Unrecognized net actuarial loss	69,578			145,150			43,988			61,231
Total	69,758			145,357			36,516			60,675
Less regulatory asset	(64,925		)	(138,184		)	(37,116		)	(60,981		)
Accumulated other comprehensive loss (income)	$	4,833		$	7,173		$	(600	)	$	(306	)

	Pension Benefits				Other Post- retirement Benefits
	2013		2012		2013		2012
Weighted average assumptions as of December 31:
Discount rate for benefit obligation	5.10	%	4.15	%	5.02	%	4.15	%
Discount rate for annual expense	4.15	%	5.04	%	4.15	%	4.98	%
Expected long-term return on plan assets	6.60	%	6.95	%	6.35	%	6.55	%
Rate of compensation increase	4.96	%	4.89	%
Medical cost trend pre-age 65 – initial					7.00	%	7.00	%
Medical cost trend pre-age 65 – ultimate					5.00	%	5.00	%
Ultimate medical cost trend year pre-age 65					2020		2019
Medical cost trend post-age 65 – initial					7.50	%	7.50	%
Medical cost trend post-age 65 – ultimate					5.00	%	5.00	%
Ultimate medical cost trend year post-age 65					2021		2021

Components of Net Periodic Benefit Cost

	Pension Benefits									Other Post-retirement Benefits
	2013			2012			2011			2013			2012			2011
Components of net periodic benefit cost:
Service cost	$	19,045		$	15,551		$	12,936		$	4,144		$	2,804		$	1,805
Interest cost	23,896			24,349			24,134			5,216			5,056			4,126
Expected return on plan assets	(27,671		)	(23,810		)	(23,115		)	(1,606		)	(1,471		)	(1,601		)
Transition obligation recognition	—			—			—			—			505			505
Amortization of prior service cost	319			346			475			(149		)	(149		)	(149		)
Net loss recognition	13,199			11,637			9,493			5,674			5,020			3,458
Net periodic benefit cost	$	28,788		$	28,073		$	23,923		$	13,279		$	11,765		$	8,144

Schedule of Allocation of Plan Assets

	2013		2012
Equity securities	47	%	51	%
Debt securities	31	%	31	%
Real estate	6	%	5	%
Absolute return	12	%	10	%
Other	4	%	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, 2013 (dollars in thousands):

	Common/collective trusts		Partnership/closely held investments
	Real estate		Absolute return		Private equity funds			Real estate
Balance, as of January 1, 2013	$	17,596	$	17,755	$	660		$	—
Realized gains	—		—		(323		)	—
Unrealized gains (losses)	2,139		2,396		345			113
Purchases (sales), net	—		14,000		(305		)	3,760
Balance, as of December 31, 2013	$	19,735	$	34,151	$	377		$	3,873

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 (losses)	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

Employer Matching Contributions

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

	2013		2012		2011
Employer 401(k) matching contributions	$	8,579	$	8,168	$	7,027

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):

	2013		2012
Deferred compensation assets and liabilities	$	9,170	$	8,806

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):

	2014		2015		2016		2017		2018		Total 2019-2023
Expected benefit payments	$	25,176	$	26,735	$	27,731	$	28,880	$	30,379	$	172,887

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):

	2014		2015		2016		2017		2018		Total 2019-2023
Expected benefit payments	$	6,969	$	6,707	$	7,056	$	7,120	$	7,247	$	35,121

Schedule of Allocation of Plan Assets

The following table discloses by level within the fair value hierarchy (see Note 16 for a description of the fair value hierarchy) of other postretirement plan assets measured and reported as of December 31, 2013 at fair value (dollars in thousands):

	Level 1		Level 2		Level 3		Total
Cash equivalents	$	—	$	4	$	—	$	4
Mutual funds:
Fixed income securities	11,645		—		—		11,645
U.S. equity securities	11,831		—		—		11,831
International equity securities	6,252		—		—		6,252
Total	$	29,728	$	4	$	—	$	29,732

The following table discloses by level within the fair value hierarchy (see Note 16 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

Pension Benefits [Member]

Schedule of Allocation of Plan Assets

The following table discloses by level within the fair value hierarchy (see Note 16 for a description of the fair value hierarchy) of the pension plan’s assets measured and reported as of December 31, 2013 at fair value (dollars in thousands):

	Level 1		Level 2		Level 3		Total
Mutual funds:
Fixed income securities	$	86,481	$	310	$	—	$	86,791
U.S. equity securities	152,831		—		—		152,831
International equity securities	85,942		—		—		85,942
Absolute return (1)	23,599		—		—		23,599
Common/collective trusts:
Fixed income securities	—		55,872		—		55,872
Real estate	—		—		19,735		19,735
Partnership/closely held investments:
Absolute return (1)	—		—		34,151		34,151
Private equity funds (3)	—		—		377		377
Commodities (2)	—		18,331		—		18,331
Real estate	—		—		3,873		3,873
Total	$	348,853	$	74,513	$	58,136	$	481,502

The following table discloses by level within the fair value hierarchy (see Note 16 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

(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) This investment is in derivatives linked to commodity indices to gain exposure to the commodity markets. These positions are fully collateralized with debt securities.

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