Pension Plans And Other Postretirement Benefit Plans

9 Months Ended

Sep. 30, 2016

General Discussion of Pension and Other Postretirement Benefits [Abstract]

Pension Plans and Other Postretirement Benefit Plans

PENSION PLANS AND OTHER POSTRETIREMENT BENEFIT PLANS

Avista Utilities

The Company’s pension and other postretirement plans have not changed during the nine months ended September 30, 2016. The Company’s funding policy is to contribute at least the minimum amounts that are required to be funded under the Employee Retirement Income Security Act, but not more than the maximum amounts that are currently deductible for income tax purposes. The Company contributed $12.0 million in cash to the pension plan for the nine months ended September 30, 2016 and does not expect to make any further contributions in 2016. The Company contributed $12.0 million in cash to the pension plan in 2015.

The Company uses a December 31 measurement date for its defined benefit pension and other postretirement benefit plans. The following table sets forth the components of net periodic benefit costs for the three and nine months ended September 30 (dollars in thousands):

	Pension Benefits						Other Post-retirement Benefits
	2016			2015			2016			2015
Three months ended September 30:
Service cost	$	4,567		$	4,984		$	806		$	721
Interest cost	6,895			6,531			1,530			1,292
Expected return on plan assets	(6,887		)	(7,075		)	(465		)	(500		)
Amortization of prior service cost	1			6			(300		)	(287		)
Net loss recognition	2,161			2,397			1,453			1,324
Net periodic benefit cost	$	6,737		$	6,843		$	3,024		$	2,550
Nine months ended September 30:
Service cost	$	13,655		$	14,917		$	2,389		$	2,141
Interest cost	20,695			19,734			4,623			3,915
Expected return on plan assets	(20,512		)	(21,566		)	(1,415		)	(1,431		)
Amortization of prior service cost	1			18			(924		)	(853		)
Net loss recognition	6,252			7,425			4,312			3,879
Net periodic benefit cost	$	20,091		$	20,528		$	8,985		$	7,651