BENEFIT PLANS: Level 3 (Tables)

3 Months Ended

Jun. 30, 2021

Defined Benefit Plan Disclosure

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

The table below shows the components of net periodic benefit costs for the pension, SMSP, and postretirement benefits plans for the three months ended June 30, 2021 and 2020 (in thousands).

	Pension Plan				SMSP				Postretirement Benefits				Total
	2021		2020		2021		2020		2021		2020		2021		2020
Service cost	$	13,693	$	10,578	$	203	$	53	$	179	$	240	$	14,075	$	10,871
Interest cost	9,456		9,988		889		1,087		502		633		10,847		11,708
Expected return on plan assets	(16,024)		(14,089)		—		—		(597)		(597)		(16,621)		(14,686)
Amortization of prior service cost	1		1		74		73		12		12		87		86
Amortization of net loss	6,225		4,296		1,052		933		—		—		7,277		5,229
Net periodic benefit cost	13,351		10,774		2,218		2,146		96		288		15,665		13,208
Regulatory deferral of net periodic benefit cost(1)	(12,787)		(10,279)		—		—		—		—		(12,787)		(10,279)
Previously deferred pension costs recognized(1)	4,289		4,289		—		—		—		—		4,289		4,289
Net periodic benefit cost recognized for financial reporting(1)(2)	$	4,853	$	4,784	$	2,218	$	2,146	$	96	$	288	$	7,167	$	7,218

 (1) Net periodic benefit costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under IPUC order, the Idaho portion of net periodic benefit cost is recorded as a regulatory asset and is recognized in the income statement as those costs are recovered through rates.

 (2) Of total net periodic benefit cost recognized for financial reporting, $4.5 million and $4.3 million, respectively, were recognized in "Other operations and maintenance" and $2.6 million and $3.0 million, respectively, were recognized in "Other income, net" on the condensed consolidated statements of income of the companies for the three months ended June 30, 2021 and 2020.

The table below shows the components of net periodic benefit costs for the pension, SMSP, and postretirement benefits plans for the six months ended June 30, 2021 and 2020 (in thousands).

	Pension Plan				SMSP				Postretirement Benefits				Total
	2021		2020		2021		2020		2021		2020		2021		2020
Service cost	$	27,101	$	21,493	$	406	$	106	$	532	$	514	$	28,039	$	22,113
Interest cost	18,659		20,006		1,778		2,175		1,030		1,247		21,467		23,428
Expected return on plan assets	(32,045)		(28,119)		—		—		(1,198)		(1,202)		(33,243)		(29,321)
Amortization of prior service cost	3		3		148		145		24		24		175		172
Amortization of net loss	11,898		8,663		2,103		1,867		—		—		14,001		10,530
Net periodic benefit cost	25,616		22,046		4,435		4,293		388		583		30,439		26,922
Regulatory deferral of net periodic benefit cost(1)	(24,482)		(21,021)		—		—		—		—		(24,482)		(21,021)
Previously deferred pension costs recognized(1)	8,577		8,577		—		—		—		—		8,577		8,577
Net periodic benefit cost recognized for financial reporting(1)(2)	$	9,711	$	9,602	$	4,435	$	4,293	$	388	$	583	$	14,534	$	14,478

 (1) Net periodic benefit costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under IPUC order, the Idaho portion of net periodic benefit cost is recorded as a regulatory asset and is recognized in the income statement as those costs are recovered through rates.

 (2) Of total net periodic benefit cost recognized for financial reporting, $9.3 million and $8.5 million, respectively, were recognized in "Other operations and maintenance" and $5.2 million and $5.9 million, respectively, were recognized in "Other income, net" on the condensed consolidated statements of income of the companies for the six months ended June 30, 2021 and 2020.