Pension plans (Tables)

12 Months Ended

Dec. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Schedule of net periodic pension expense

The components of net periodic pension expense for each of the three years ending December 31, 2015 are as follows (in millions).

	2015			2014			2013
Service cost	$	266		$	230		$	254
Interest cost		591			629			547
Expected return on plan assets		(782	)		(772	)		(634	)
Amortization of actuarial losses and other		179			102			225
Net periodic pension expense	$	254		$	189		$	392

Schedule of changes in projected benefit obligations, changes in plan assets and net funded status

Reconciliations of the changes in plan assets and PBOs related to BHE’s pension plans and all other pension plans for each of the two years ending December 31, 2015 are in the following tables (in millions). The costs of pension plans covering employees of certain regulated subsidiaries of BHE are generally recoverable through the regulated rate making process.

	2015									2014
	BHE			All other			Consolidated			BHE			All other			Consolidated
Benefit obligations
Accumulated benefit obligation at end of year	$	4,797		$	9,264		$	14,061		$	5,105		$	9,522		$	14,627
PBO at beginning of year	$	5,398		$	10,489		$	15,887		$	5,006		$	8,892		$	13,898
Service cost		57			209			266			60			170			230
Interest cost		200			391			591			226			403			629
Benefits paid		(316	)		(518	)		(834	)		(310	)		(524	)		(834	)
Business acquisitions		—			165			165			—			11			11
Actuarial (gains) or losses and other		(263	)		(553	)		(816	)		416			1,537			1,953
PBO at end of year	$	5,076		$	10,183		$	15,259		$	5,398		$	10,489		$	15,887
Plan assets
Plan assets at beginning of year	$	5,086		$	8,280		$	13,366		$	4,888		$	8,389		$	13,277
Employer contributions		90			116			206			126			122			248
Benefits paid		(316	)		(518	)		(834	)		(310	)		(524	)		(834	)
Actual return on plan assets		31			80			111			525			338			863
Business acquisitions		—			167			167			—			1			1
Other		(126	)		(59	)		(185	)		(143	)		(46	)		(189	)
Plan assets at end of year	$	4,765		$	8,066		$	12,831		$	5,086		$	8,280		$	13,366
Funded status – net liability	$	311		$	2,117		$	2,428		$	312		$	2,209		$	2,521

Schedule of weighted average interest rate assumptions

Weighted average interest rate assumptions used in determining projected benefit obligations and net periodic pension expense were as follows.

	2015			2014			2013
Applicable to pension benefit obligations:
Discount rate		4.1	%		3.8	%		4.6	%
Expected long-term rate of return on plan assets		6.5			6.7			6.7
Rate of compensation increase		3.4			3.4			3.5
Discount rate applicable to net periodic pension expense		3.8			4.6			4.1

Schedule of funded status of pension plans

The funded status of our pension plans is recognized in our Consolidated Balance Sheets as follows (in millions).

	December 31,
	2015			2014
Accounts payable, accruals and other liabilities	$	2,484		$	2,550
Losses and loss adjustment expenses		400			332
Other assets		(456	)		(361	)
	$	2,428		$	2,521

Schedule of fair value measurements by major categories of plan assets

Fair value measurements of plan assets as of December 31, 2015 and 2014 follow (in millions).

	Total Fair Value		Quoted Prices (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2015
Cash and equivalents	$	839	$	544	$	295	$	—
Equity securities		7,319		7,305		14		—
Government obligations		786		726		60		—
Other fixed maturity securities		990		87		903		—
Investment funds and other		2,897		357		2,200		340
	$	12,831	$	9,019	$	3,472	$	340
December 31, 2014
Cash and equivalents	$	482	$	250	$	232	$	—
Equity securities		7,950		7,739		211		—
Government obligations		811		701		110		—
Other fixed maturity securities		908		67		841		—
Investment funds and other		3,215		595		2,287		333
	$	13,366	$	9,352	$	3,681	$	333

Schedule of pension plan amounts recognized In accumulated other comprehensive income

A reconciliation of the pre-tax accumulated other comprehensive income (loss) related to defined benefit pension plans for each of the two years ending December 31, 2015 follows (in millions).

	2015			2014
Balance at beginning of year	$	(1,617	)	$	86
Amount included in net periodic pension expense		129			58
Gains (losses) current period and other		295			(1,761	)
Balance at end of year	$	(1,193	)	$	(1,617	)