Pension Plans And Other Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2015

Pension and Other Post Retirement Benefit Plans

	Pension Benefits						Other Post- retirement Benefits
	2015			2014			2015			2014
Change in benefit obligation:
Benefit obligation as of beginning of year	$	634,674		$	527,004		$	127,989		$	108,249
Service cost	19,791			15,757			2,925			1,844
Interest cost	26,117			26,224			5,158			5,226
Actuarial (gain)/loss	(35,790		)	97,128			12,668			18,714
Plan change	(228		)	—			(1,000		)	—
Transfer of accrued vacation	—			—			—			437
Cumulative adjustment to reclassify liability	—			—			(1,521		)	—
Benefits paid	(31,061		)	(31,439		)	(7,424		)	(6,481		)
Benefit obligation as of end of year	$	613,503		$	634,674		$	138,795		$	127,989
Change in plan assets:
Fair value of plan assets as of beginning of year	$	539,311		$	481,502		$	31,312		$	29,732
Actual return on plan assets	(4,305		)	55,974			(444		)	1,580
Employer contributions	12,000			32,000			—			—
Benefits paid	(29,772		)	(30,165		)	—			—
Fair value of plan assets as of end of year	$	517,234		$	539,311		$	30,868		$	31,312
Funded status	$	(96,269	)	$	(95,363	)	$	(107,927	)	$	(96,677	)
Unrecognized net actuarial loss	162,961			175,596			92,433			82,421
Unrecognized prior service cost	25			256			(10,180		)	(10,379		)
Prepaid (accrued) benefit cost	66,717			80,489			(25,674		)	(24,635		)
Additional liability	(162,986		)	(175,852		)	(82,253		)	(72,042		)
Accrued benefit liability	$	(96,269	)	$	(95,363	)	$	(107,927	)	$	(96,677	)
Accumulated pension benefit obligation	$	542,209		$	551,615		—			—

	Pension Benefits						Other Post- retirement Benefits
	2015			2014			2015			2014
Accumulated postretirement benefit obligation:
For retirees							$	65,652		$	58,276
For fully eligible employees							$	34,498		$	31,843
For other participants							$	38,645		$	37,870
Included in accumulated other comprehensive loss (income) (net of tax):
Unrecognized prior service cost	$	16		$	166		$	(6,617	)	$	(6,747	)
Unrecognized net actuarial loss	105,925			114,138			60,081			53,574
Total	105,941			114,304			53,464			46,827
Less regulatory asset	(99,414		)	(106,484		)	(53,341		)	(46,759		)
Accumulated other comprehensive loss (income) for unfunded benefit obligation for pensions and other postretirement benefit plans	$	6,527		$	7,820		$	123		$	68

	Pension Benefits				Other Post- retirement Benefits
	2015		2014		2015		2014
Weighted average assumptions as of December 31:
Discount rate for benefit obligation	4.57	%	4.21	%	4.57	%	4.16	%
Discount rate for annual expense	4.21	%	5.10	%	4.16	%	5.02	%
Expected long-term return on plan assets	5.30	%	6.60	%	6.36	%	6.40	%
Rate of compensation increase	4.87	%	4.87	%
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					2022		2021
Medical cost trend post-age 65 – initial					7.00	%	7.00	%
Medical cost trend post-age 65 – ultimate					5.00	%	5.00	%
Ultimate medical cost trend year post-age 65					2023		2022

Components of Net Periodic Benefit Cost

	Pension Benefits									Other Post-retirement Benefits
	2015			2014			2013			2015			2014			2013
Components of net periodic benefit cost:
Service cost	$	19,791		$	15,757		$	19,045		$	2,925		$	1,844		$	4,144
Interest cost	26,117			26,224			23,896			5,158			5,226			5,216
Expected return on plan assets	(28,299		)	(32,131		)	(27,671		)	(1,991		)	(1,903		)	(1,606		)
Amortization of prior service cost	2			22			319			(1,199		)	(1,116		)	(149		)
Net loss recognition	9,451			4,731			13,199			5,095			4,289			5,674
Net periodic benefit cost	$	27,062		$	14,603		$	28,788		$	9,988		$	8,340		$	13,279

Schedule of Allocation of Plan Assets

	2015		2014
Equity securities	27	%	27	%
Debt securities	58	%	58	%
Real estate	6	%	6	%
Absolute return	9	%	9	%

Employer Matching Contributions

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

	2015		2014		2013
Employer 401(k) matching contributions	$	8,011	$	6,862	$	6,279

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):

	2015		2014
Deferred compensation assets and liabilities	$	8,093	$	8,677

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):

	2016		2017		2018		2019		2020		Total 2021-2025
Expected benefit payments	$	7,345	$	7,522	$	7,713	$	7,933	$	6,907	$	36,560

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, 2015 at fair value (dollars in thousands):

	Level 1		Level 2		Level 3		Total
Cash equivalents	$	—	$	9	$	—	$	9
Mutual funds:
Fixed income securities	12,000		—		—		12,000
U.S. equity securities	13,224		—		—		13,224
International equity securities	5,635		—		—		5,635
Total	$	30,859	$	9	$	—	$	30,868

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, 2014 at fair value (dollars in thousands):

	Level 1		Level 2		Level 3		Total
Cash equivalents	$	—	$	3	$	—	$	3
Mutual funds:
Fixed income securities	11,968		—		—		11,968
U.S. equity securities	13,210		—		—		13,210
International equity securities	6,131		—		—		6,131
Total	$	31,309	$	3	$	—	$	31,312

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):

	2016		2017		2018		2019		2020		Total 2021-2025
Expected benefit payments	$	29,182	$	30,260	$	31,332	$	32,804	$	34,430	$	189,919

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

	2016		2017		2018		2019		2020		Total 2021-2025
Expected benefit payments	$	29,182	$	30,260	$	31,332	$	32,804	$	34,430	$	189,919

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, 2015 at fair value (dollars in thousands):

	Level 1		Level 2		Level 3		Total
Cash equivalents	$	86	$	10,641	$	—	$	10,727
Fixed income securities:
U.S. government issues	—		47,845		—		47,845
Corporate issues	—		187,308		—		187,308
International issues	—		34,458		—		34,458
Municipal issues	—		22,416		—		22,416
Mutual funds:
U.S. equity securities	87,678		—		—		87,678
International equity securities	40,343		—		—		40,343
Absolute return (1)	13,996		—		—		13,996
Plan assets measured at NAV (not subject to hierarchy disclosure)
Common/collective trusts:
Real estate	—		—		—		24,147
Partnership/closely held investments:
Absolute return (1)	—		—		—		38,302
Private equity funds (2)	—		—		—		73
Real estate	—		—		—		9,941
Total	$	142,103	$	302,668	$	—	$	517,234

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, 2014 at fair value (dollars in thousands):

	Level 1		Level 2		Level 3		Total
Cash equivalents	$	—	$	3,138	$	—	$	3,138
Fixed income securities:
U.S. government issues	19,681		—		—		19,681
Corporate issues	104,959		—		—		104,959
International issues	19,935		—		—		19,935
Municipal issues	2,762		7,788		—		10,550
Mutual funds:
Fixed income securities	157,415		8		—		157,423
U.S. equity securities	103,203		—		—		103,203
International equity securities	40,838		—		—		40,838
Absolute return (1)	15,334		—		—		15,334
Plan assets measured at NAV (not subject to hierarchy disclosure)
Common/collective trusts:
Real estate	—		—		—		21,303
Partnership/closely held investments:
Absolute return (1)	—		—		—		36,114
Private equity funds (2)	—		—		—		73
Real estate	—		—		—		6,760
Total	$	464,127	$	10,934	$	—	$	539,311

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