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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Net Benefit Costs [Table Text Block]

Net periodic benefit cost for the UK Plan included the following components for the years ended December 31 (in millions):
 
2017
 
2016
 
2015
 
 
 
 
 
 
Service cost
$
23

 
$
20

 
$
24

Interest cost
58

 
72

 
79

Expected return on plan assets
(100
)
 
(110
)
 
(116
)
Settlement
31

 

 

Net amortization
63

 
44

 
62

Net periodic benefit cost
$
75

 
$
26

 
$
49

    
Net periodic benefit cost for the plans included the following components for the years ended December 31 (in millions):
 
Pension
 
Other Postretirement
 
2017
 
2016
 
2015
 
2017
 
2016
 
2015
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
24

 
$
29

 
$
33

 
$
9

 
$
9

 
$
11

Interest cost
116

 
126

 
121

 
29

 
31

 
31

Expected return on plan assets
(160
)
 
(160
)
 
(169
)
 
(40
)
 
(41
)
 
(45
)
Net amortization
25

 
46

 
53

 
(14
)
 
(12
)
 
(11
)
Net periodic benefit cost (credit)
$
5

 
$
41

 
$
38

 
$
(16
)
 
$
(13
)
 
$
(14
)
Changes in Fair Value of Plan Assets [Table Text Block]
The following table is a reconciliation of the fair value of plan assets for the years ended December 31 (in millions):
 
Pension
 
Other Postretirement
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
Plan assets at fair value, beginning of year
$
2,525

 
$
2,489

 
$
666

 
$
662

Employer contributions
64

 
78

 
5

 
2

Participant contributions

 

 
10

 
10

Actual return on plan assets
390

 
163

 
106

 
41

Settlement
(15
)
 
(11
)
 

 

Benefits paid
(203
)
 
(194
)
 
(51
)
 
(49
)
Plan assets at fair value, end of year
$
2,761

 
$
2,525

 
$
736

 
$
666


The following table is a reconciliation of the fair value of plan assets for the years ended December 31 (in millions):
 
2017
 
2016
 
 
 
 
Plan assets at fair value, beginning of year
$
2,169

 
$
2,276

Employer contributions
58

 
55

Participant contributions
1

 
1

Actual return on plan assets
145

 
349

Settlement
(144
)
 

Benefits paid
(68
)
 
(115
)
Foreign currency exchange rate changes
207

 
(397
)
Plan assets at fair value, end of year
$
2,368

 
$
2,169


Changes in Projected Benefit Obligations [Table Text Block]
The following table is a reconciliation of the benefit obligations for the years ended December 31 (in millions):
 
Pension
 
Other Postretirement
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
Benefit obligation, beginning of year
$
2,952

 
$
2,934

 
$
734

 
$
740

Service cost
24

 
29

 
9

 
9

Interest cost
116

 
126

 
29

 
31

Participant contributions

 

 
10

 
10

Actuarial loss (gain)
132

 
67

 
(10
)
 
(7
)
Amendment

 
1

 

 

Settlement
(15
)
 
(11
)
 

 

Benefits paid
(203
)
 
(194
)
 
(51
)
 
(49
)
Benefit obligation, end of year
$
3,006

 
$
2,952

 
$
721

 
$
734

Accumulated benefit obligation, end of year
$
2,988

 
$
2,929

 
 
 
 

following table is a reconciliation of the benefit obligation for the years ended December 31 (in millions):
 
2017
 
2016
 
 
 
 
Benefit obligation, beginning of year
$
2,125

 
$
2,142

Service cost
23

 
20

Interest cost
58

 
72

Participant contributions
1

 
1

Actuarial loss (gain)
(4
)
 
387

Settlement
(131
)
 

Benefits paid
(68
)
 
(115
)
Foreign currency exchange rate changes
197

 
(382
)
Benefit obligation, end of year
$
2,201

 
$
2,125

Accumulated benefit obligation, end of year
$
1,933

 
$
1,858


Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]
The funded status of the plans and the amounts recognized on the Consolidated Balance Sheets as of December 31 are as follows (in millions):
 
Pension
 
Other Postretirement
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
Plan assets at fair value, end of year
$
2,761

 
$
2,525

 
$
736

 
$
666

Benefit obligation, end of year
3,006

 
2,952

 
721

 
734

Funded status
$
(245
)
 
$
(427
)
 
$
15

 
$
(68
)
 
 
 
 
 
 
 
 
Amounts recognized on the Consolidated Balance Sheets:
 
 
 
 
 
 
 
Other assets
$
66

 
$
26

 
$
32

 
$
19

Other current liabilities
(14
)
 
(15
)
 

 

Other long-term liabilities
(297
)
 
(438
)
 
(17
)
 
(87
)
Amounts recognized
$
(245
)
 
$
(427
)
 
$
15

 
$
(68
)
The fair value of plan assets, projected benefit obligation and accumulated benefit obligation for (1) pension and other postretirement benefit plans with a projected benefit obligation in excess of the fair value of plan assets and (2) pension plans with an accumulated benefit obligation in excess of the fair value of plan assets as of December 31 are as follows (in millions):
 
Pension
 
Other Postretirement
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
Fair value of plan assets
$
2,016

 
$
1,841

 
$
126

 
$
413

 
 
 
 
 
 
 
 
Projected benefit obligation
$
2,327

 
$
2,294

 
$
143

 
$
500

 
 
 
 
 
 
 
 
Accumulated benefit obligation
$
2,316

 
$
2,278

 
 
 
 
The funded status of the UK Plan and the amounts recognized on the Consolidated Balance Sheets as of December 31 are as follows (in millions):
 
2017
 
2016
 
 
 
 
Plan assets at fair value, end of year
$
2,368

 
$
2,169

Benefit obligation, end of year
2,201

 
2,125

Funded status
$
167

 
$
44

 
 
 
 
Amounts recognized on the Consolidated Balance Sheets:
 
 
 
Other assets
$
167

 
$
44


Net Periodic Benefit Costs Not Yet Recognized [Table Text Block]

A reconciliation of the amounts not yet recognized as components of net periodic benefit cost, which are included in accumulated other comprehensive loss on the Consolidated Balance Sheets, for the years ended December 31 is as follows (in millions):
 
2017
 
2016
 
 
 
 
Balance, beginning of year
$
590

 
$
592

Net (gain) loss arising during the year
(50
)
 
148

Settlement
(17
)
 

Net amortization
(63
)
 
(44
)
Foreign currency exchange rate changes
50

 
(106
)
Total
(80
)
 
(2
)
Balance, end of year
$
510

 
$
590


The portion of the funded status of the plans not yet recognized in net periodic benefit cost as of December 31 is as follows (in millions):
 
Pension
 
Other Postretirement
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
Net loss
$
649

 
$
775

 
$
14

 
$
88

Prior service credit
(3
)
 
(7
)
 
(37
)
 
(52
)
Regulatory deferrals
(4
)
 
(7
)
 
7

 
7

Total
$
642

 
$
761

 
$
(16
)
 
$
43

A reconciliation of the amounts not yet recognized as components of net periodic benefit cost for the years ended December 31, 2017 and 2016 is as follows (in millions):
 
 
 
 
 
Accumulated
 
 
 
 
 
 
 
Other
 
 
 
Regulatory
 
Regulatory
 
Comprehensive
 
 
 
Asset
 
Liability
 
Loss
 
Total
Pension
 
 
 
 
 
 
 
Balance, December 31, 2015
$
729

 
$
(1
)
 
$
13

 
$
741

Net loss (gain) arising during the year
76

 
(11
)
 

 
65

Net prior service cost arising during the year
1

 

 

 
1

Net amortization
(45
)
 
(1
)
 

 
(46
)
Total
32

 
(12
)
 

 
20

Balance, December 31, 2016
761

 
(13
)
 
13

 
761

Net (gain) loss arising during the year
(68
)
 
(29
)
 
3

 
(94
)
Net amortization
(28
)
 
(1
)
 
4

 
(25
)
Total
(96
)
 
(30
)
 
7

 
(119
)
Balance, December 31, 2017
$
665

 
$
(43
)
 
$
20

 
$
642


 
Regulatory
 
Regulatory
 
 
 
Asset
 
Liability
 
Total
Other Postretirement
 
 
 
 
 
Balance, December 31, 2015
$
49

 
$
(12
)
 
$
37

Net gain arising during the year
(5
)
 
(1
)
 
(6
)
Net amortization
11

 
1

 
12

Total
6

 

 
6

Balance, December 31, 2016
55

 
(12
)
 
43

Net gain arising during the year
(52
)
 
(21
)
 
(73
)
Net amortization
7

 
7

 
14

Total
(45
)
 
(14
)
 
(59
)
Balance, December 31, 2017
$
10

 
$
(26
)
 
$
(16
)

The portion of the funded status of the UK Plan not yet recognized in net periodic benefit cost as of December 31 is as follows (in millions):
 
2017
 
2016
 
 
 
 
Net loss
$
510

 
$
590


Defined Benefit Plans, Amounts To Be Recognized In Following Year [Table Text Block]
The net loss, prior service credit and regulatory deferrals that will be amortized in 2018 into net periodic benefit cost are estimated to be as follows (in millions):
 
Net
 
Prior Service
 
Regulatory
 
 
 
Loss
 
Credit
 
Deferrals
 
Total
 
 
 
 
 
 
 
 
Pension
$
32

 
$
(1
)
 
$
(3
)
 
$
28

Other postretirement
1

 
(15
)
 
1

 
(13
)
Total
$
33

 
$
(16
)
 
$
(2
)
 
$
15

Plan Assumptions [Table Text Block]
Weighted-average assumptions used to determine benefit obligations and net periodic benefit cost were as follows:
 
Pension
 
Other Postretirement
 
2017
 
2016
 
2015
 
2017
 
2016
 
2015
 
 
 
 
 
 
 
 
 
 
 
 
Benefit obligations as of December 31:
 
 
 
 
 
 
 
 
 
 
 
Discount rate
3.60
%
 
4.06
%
 
4.43
%
 
3.57
%
 
4.01
%
 
4.33
%
Rate of compensation increase
2.75
%
 
2.75
%
 
2.75
%
 
NA

 
NA

 
NA

 
 
 
 
 
 
 
 
 
 
 
 
Net periodic benefit cost for the years ended December 31:
 
 
 
 
 
 
 
 
 
 
 
Discount rate
4.06
%
 
4.43
%
 
4.00
%
 
4.01
%
 
4.33
%
 
3.93
%
Expected return on plan assets
6.55
%
 
6.78
%
 
6.88
%
 
6.73
%
 
7.03
%
 
7.00
%
Rate of compensation increase
2.75
%
 
2.75
%
 
2.75
%
 
NA

 
NA

 
NA

Assumptions used to determine benefit obligations and net periodic benefit cost were as follows:
 
2017
 
2016
 
2015
 
 
 
 
 
 
Benefit obligations as of December 31:
 
 
 
 
 
Discount rate
2.60
%
 
2.70
%
 
3.70
%
Rate of compensation increase
3.45
%
 
3.00
%
 
2.90
%
Rate of future price inflation
2.95
%
 
3.00
%
 
2.90
%
 
 
 
 
 
 
Net periodic benefit cost for the years ended December 31:
 
 
 
 
 
Discount rate
2.70
%
 
3.70
%
 
3.60
%
Expected return on plan assets
5.00
%
 
5.60
%
 
5.60
%
Rate of compensation increase
3.00
%
 
2.90
%
 
2.80
%
Rate of future price inflation
3.00
%
 
2.90
%
 
2.80
%
    
In establishing its assumption as to the expected return on plan assets, the Company utilizes the asset allocation and return assumptions for each asset class based on historical performance and forward-looking views of the financial markets.
 
2017
 
2016
Assumed healthcare cost trend rates as of December 31:
 
 
 
Healthcare cost trend rate assumed for next year
7.10
%
 
7.40
%
Rate that the cost trend rate gradually declines to
5.00
%
 
5.00
%
Year that the rate reaches the rate it is assumed to remain at
2025
 
2025
Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]
A one percentage-point change in assumed healthcare cost trend rates would have the following effects (in millions):
 
One Percentage-Point
 
Increase
 
Decrease
Increase (decrease) in:
 
 
 
Total service and interest cost for the year ended December 31, 2017
$

 
$

Other postretirement benefit obligation as of December 31, 2017
4

 
(4
)
Expected Benefit Payments [Table Text Block]
Employer contributions to the UK Plan are expected to be £45 million during 2018. The expected benefit payments to participants in the UK Plan for 2018 through 2022 and for the five years thereafter excluding lump sum settlement elections, using the foreign currency exchange rate as of December 31, 2017, are summarized below (in millions):
2018
$
72

2019
74

2020
75

2021
77

2022
79

2023-2027
427

    
The expected benefit payments to participants in the Company's pension and other postretirement benefit plans for 2018 through 2022 and for the five years thereafter are summarized below (in millions):
 
Projected Benefit
 
Payments
 
 
 
Other
 
Pension
 
Postretirement
 
 
 
 
2018
$
226

 
$
54

2019
224

 
55

2020
224

 
57

2021
222

 
55

2022
214

 
54

2023-2027
979

 
243

Allocation of Plan Assets [Table Text Block]
The target allocations (percentage of plan assets) for the UK Plan assets are as follows as of December 31, 2017:
 
%
Debt securities(1)
50-55
Equity securities(1)
35-40
Real estate funds and other
5-15

(1)
For purposes of target allocation percentages and consistent with the plans' investment policy, investment funds have been allocated based on the underlying investments in debt and equity securities.

The target allocations (percentage of plan assets) for the Company's pension and other postretirement benefit plan assets are as follows as of December 31, 2017:
 
 
 
Other
 
Pension
 
Postretirement
 
%
 
%
PacifiCorp:
 
 
 
Debt securities(1)
33-38
 
33-37
Equity securities(1)
49-60
 
61-65
Limited partnership interests
7-12
 
1-3
Other
0-1
 
0-1
 
 
 
 
MidAmerican Energy:
 
 
 
Debt securities(1)
20-50
 
25-45
Equity securities(1)
60-80
 
45-80
Real estate funds
2-8
 
Other
0-3
 
0-5
 
 
 
 
NV Energy:
 
 
 
Debt securities(1)
53-77
 
40
Equity securities(1)
23-47
 
60

(1)
For purposes of target allocation percentages and consistent with the plans' investment policy, investment funds are allocated based on the underlying investments in debt and equity securities.
Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following table presents the fair value of plan assets, by major category, for the Company's defined benefit pension plans (in millions):
 
Input Levels for Fair Value Measurements(1)
 
 
 
Level 1
 
Level 2
 
Level 3
 
Total
As of December 31, 2017:
 
 
 
 
 
 
 
Cash equivalents
$
10

 
$
76

 
$

 
$
86

Debt securities:
 
 
 
 
 
 
 
United States government obligations
218

 

 

 
218

Corporate obligations

 
350

 

 
350

Municipal obligations

 
16

 

 
16

Agency, asset and mortgage-backed obligations

 
110

 

 
110

Equity securities:
 
 
 
 
 
 
 
United States companies
622

 

 

 
622

International companies
136

 

 

 
136

Investment funds(2)
83

 
20

 

 
103

Total assets in the fair value hierarchy
$
1,069

 
$
572

 
$

 
1,641

Investment funds(2) measured at net asset value
 
 
 
 
 
 
1,019

Limited partnership interests(3) measured at net asset value
 
 
 
 
 
 
63

Real estate funds measured at net asset value
 
 
 
 
 
 
38

Total assets measured at fair value
 
 
 
 
 
 
$
2,761

 
 
 
 
 
 
 
 
As of December 31, 2016:
 
 
 
 
 
 
 
Cash equivalents
$
4

 
$
54

 
$

 
$
58

Debt securities:
 
 
 
 
 
 
 
United States government obligations
161

 

 

 
161

International government obligations

 
2

 

 
2

Corporate obligations

 
295

 

 
295

Municipal obligations

 
20

 

 
20

Agency, asset and mortgage-backed obligations

 
112

 

 
112

Equity securities:
 
 
 
 
 
 
 
United States companies
583

 

 

 
583

International companies
117

 

 

 
117

Investment funds(2)
146

 

 

 
146

Total assets in the fair value hierarchy
$
1,011

 
$
483

 
$

 
1,494

Investment funds(2) measured at net asset value
 
 
 
 
 
 
920

Limited partnership interests(3) measured at net asset value
 
 
 
 
 
 
61

Real estate funds measured at net asset value
 
 
 
 
 
 
50

Total assets measured at fair value
 
 
 
 
 
 
$
2,525


(1)
Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy.
(2)
Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 62% and 38%, respectively, for both 2017 and 2016. Additionally, these funds are invested in United States and international securities of approximately 68% and 32%, respectively, for 2017 and 60% and 40%, respectively, for 2016.
(3)
Limited partnership interests include several funds that invest primarily in real estate, buyout, growth equity and venture capital.
The following table presents the fair value of plan assets, by major category, for the Company's defined benefit other postretirement plans (in millions):
 
Input Levels for Fair Value Measurements(1)
 
 
 
Level 1
 
Level 2
 
Level 3
 
Total
As of December 31, 2017:
 
 
 
 
 
 
 
Cash equivalents
$
11

 
$
3

 
$

 
$
14

Debt securities:
 
 
 
 
 
 
 
United States government obligations
20

 

 

 
20

Corporate obligations

 
36

 

 
36

Municipal obligations

 
46

 

 
46

Agency, asset and mortgage-backed obligations

 
29

 

 
29

Equity securities:
 
 
 
 
 
 
 
United States companies
185

 

 

 
185

International companies
8

 

 

 
8

Investment funds
219

 
1

 

 
220

Total assets in the fair value hierarchy
$
443

 
$
115

 
$

 
558

Investment funds measured at net asset value
 
 
 
 
 
 
174

Limited partnership interests measured at net asset value
 
 
 
 
 
 
4

Total assets measured at fair value
 
 
 
 
 
 
$
736

 
 
 
 
 
 
 
 
As of December 31, 2016:
 
 
 
 
 
 
 
Cash equivalents
$
18

 
$
2

 
$

 
$
20

Debt securities:
 
 
 
 
 
 
 
United States government obligations
19

 

 

 
19

Corporate obligations

 
29

 

 
29

Municipal obligations

 
39

 

 
39

Agency, asset and mortgage-backed obligations

 
25

 

 
25

Equity securities:
 
 
 
 
 
 
 
United States companies
217

 

 

 
217

International companies
5

 

 

 
5

Investment funds(2)
152

 

 

 
152

Total assets in the fair value hierarchy
$
411

 
$
95

 
$

 
506

Investment funds(2) measured at net asset value
 
 
 
 
 
 
156

Limited partnership interests(3) measured at net asset value
 
 
 
 
 
 
4

Total assets measured at fair value
 
 
 
 
 
 
$
666


(1)
Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy.
(2)
Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 68% and 32%, respectively, for 2017 and 63% and 37%, respectively, for 2016. Additionally, these funds are invested in United States and international securities of approximately 73% and 27%, respectively, for 2017 and 72% and 28%, respectively, for 2016.
(3)
Limited partnership interests include several funds that invest primarily in real estate, buyout, growth equity and venture capital.

The following table presents the fair value of the UK Plan assets, by major category (in millions):
 
Input Levels for Fair Value Measurements(1)
 
 
 
Level 1
 
Level 2
 
Level 3
 
Total
As of December 31, 2017:
 
 
 
 
 
 
 
Cash equivalents
$
4

 
$
30

 
$

 
$
34

Debt securities:
 
 
 
 
 
 
 
United Kingdom government obligations
870

 

 

 
870

Equity securities:
 
 
 
 
 
 
 
Investment funds(2)

 
1,027

 

 
1,027

Real estate funds

 

 
230

 
230

Total
$
874

 
$
1,057

 
$
230

 
2,161

Investment funds(2) measured at net asset value
 
 
 
 
 
 
207

Total assets measured at fair value
 
 
 
 
 
 
$
2,368

 
 
 
 
 
 
 
 
As of December 31, 2016:
 
 
 
 
 
 
 
Cash equivalents
$
4

 
$
83

 
$

 
$
87

Debt securities:
 
 
 
 
 
 
 
United Kingdom government obligations
718

 

 

 
718

Equity securities:
 
 
 
 
 
 
 
Investment funds(2)

 
1,095

 

 
1,095

Real estate funds

 

 
105

 
105

Total
$
722

 
$
1,178

 
$
105

 
2,005

Investment funds(2) measured at net asset value
 
 
 
 
 
 
164

Total assets measured at fair value
 
 
 
 
 
 
$
2,169


(1)
Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy.
(2)
Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 21% and 79%, respectively, for 2017 and 44% and 56%, respectively, for 2016.

The following table presents the Company's assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions):
 
Input Levels for Fair Value Measurements
 
 
 
 
 
Level 1
 
Level 2
 
Level 3
 
Other(1)
 
Total
As of December 31, 2017:
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
Commodity derivatives
$
1

 
$
42

 
$
104

 
$
(29
)
 
$
118

Interest rate derivatives

 
15

 
9

 

 
24

Mortgage loans held for sale

 
465

 

 

 
465

Money market mutual funds(2)
685

 

 

 

 
685

Debt securities:
 
 
 
 
 
 
 
 
 
United States government obligations
176

 

 

 

 
176

International government obligations

 
5

 

 

 
5

Corporate obligations

 
36

 

 

 
36

Municipal obligations

 
2

 

 

 
2

Equity securities:
 
 
 
 
 
 
 
 
 
United States companies
288

 

 

 

 
288

International companies
1,968

 

 

 

 
1,968

Investment funds
178

 

 

 

 
178

 
$
3,296

 
$
565

 
$
113

 
$
(29
)
 
$
3,945

Liabilities:
 
 
 
 
 
 
 
 
 
Commodity derivatives
$
(3
)
 
$
(167
)
 
$
(10
)
 
$
105

 
$
(75
)
Interest rate derivatives

 
(8
)
 

 

 
(8
)
 
$
(3
)
 
$
(175
)
 
$
(10
)
 
$
105

 
$
(83
)

As of December 31, 2016:
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
Commodity derivatives
$
5

 
$
49

 
$
87

 
$
(22
)
 
$
119

Interest rate derivatives

 
16

 
7

 

 
23

Mortgage loans held for sale

 
359

 

 

 
359

Money market mutual funds(2)
586

 

 

 

 
586

Debt securities:
 
 
 
 
 
 
 
 
 
United States government obligations
161

 

 

 

 
161

International government obligations

 
3

 

 

 
3

Corporate obligations

 
36

 

 

 
36

Municipal obligations

 
2

 

 

 
2

Agency, asset and mortgage-backed obligations

 
2

 

 

 
2

Equity securities:
 
 
 
 
 
 
 
 
 
United States companies
250

 

 

 

 
250

International companies
1,190

 

 

 

 
1,190

Investment funds
147

 

 

 

 
147

 
$
2,339

 
$
467

 
$
94

 
$
(22
)
 
$
2,878

Liabilities:
 
 
 
 
 
 
 
 
 
Commodity derivatives
$
(2
)
 
$
(199
)
 
$
(27
)
 
$
96

 
$
(132
)
Interest rate derivatives
(1
)
 
(11
)
 
(1
)
 

 
(13
)
 
$
(3
)
 
$
(210
)
 
$
(28
)
 
$
96

 
$
(145
)

(1)
Represents netting under master netting arrangements and a net cash collateral receivable of $76 million and $74 million as of December 31, 2017 and 2016, respectively.
(2)
Amounts are included in cash and cash equivalents; other current assets; and noncurrent investments and restricted cash and investments on the Consolidated Balance Sheets. The fair value of these money market mutual funds approximates cost.

Level Three Defined Benefit Plan Assets Roll Forward [Table Text Block]

The following table reconciles the beginning and ending balances of the UK Plan assets measured at fair value using significant Level 3 inputs for the years ended December 31 (in millions):
 
Real Estate Funds
 
2017
 
2016
 
2015
 
 
 
 
 

Beginning balance
$
105

 
$
204

 
$
199

Actual return on plan assets still held at period end
6

 
10

 
18

Purchases (sales)
104

 
(80
)
 

Foreign currency exchange rate changes
15

 
(29
)
 
(13
)
Ending balance
$
230

 
$
105

 
$
204


PacifiCorp [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Net Benefit Costs [Table Text Block]
Net periodic benefit cost for the plans included the following components for the years ended December 31 (in millions):

 
Pension
 
Other Postretirement
 
2017
 
2016
 
2015
 
2017
 
2016
 
2015
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
$

 
$
4

 
$
4

 
$
2

 
$
2

 
$
3

Interest cost
49

 
54

 
53

 
14

 
15

 
16

Expected return on plan assets
(72
)
 
(75
)
 
(77
)
 
(21
)
 
(21
)
 
(23
)
Net amortization
14

 
34

 
42

 
(6
)
 
(5
)
 
(4
)
Net periodic benefit cost (credit)
$
(9
)
 
$
17

 
$
22

 
$
(11
)
 
$
(9
)
 
$
(8
)
Changes in Fair Value of Plan Assets [Table Text Block]
The following table is a reconciliation of the fair value of plan assets for the years ended December 31 (in millions):
 
Pension
 
Other Postretirement
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
Plan assets at fair value, beginning of year
$
999

 
$
1,043

 
$
302

 
$
305

Employer contributions
54

 
5

 
1

 
1

Participant contributions

 

 
7

 
6

Actual return on plan assets
166

 
51

 
49

 
17

Benefits paid
(108
)
 
(100
)
 
(27
)
 
(27
)
Plan assets at fair value, end of year
$
1,111

 
$
999

 
$
332

 
$
302

Changes in Projected Benefit Obligations [Table Text Block]
The following table is a reconciliation of the benefit obligations for the years ended December 31 (in millions):
 
Pension
 
Other Postretirement
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
Benefit obligation, beginning of year
$
1,276

 
$
1,289

 
$
358

 
$
362

Service cost

 
4

 
2

 
2

Interest cost
49

 
54

 
14

 
15

Participant contributions

 

 
7

 
6

Actuarial (gain) loss
34

 
29

 
(23
)
 

Benefits paid
(108
)
 
(100
)
 
(27
)
 
(27
)
Benefit obligation, end of year
$
1,251

 
$
1,276

 
$
331

 
$
358

Accumulated benefit obligation, end of year
$
1,251

 
$
1,276

 
 
 
 
Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]
The funded status of the plans and the amounts recognized on the Consolidated Balance Sheets as of December 31 are as follows (in millions):
 
Pension
 
Other Postretirement
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
Plan assets at fair value, end of year
$
1,111

 
$
999

 
$
332

 
$
302

Less - Benefit obligation, end of year
1,251

 
1,276

 
331

 
358

Funded status
$
(140
)
 
$
(277
)
 
$
1

 
$
(56
)
 
 
 
 
 
 
 
 
Amounts recognized on the Consolidated Balance Sheets:
 
 
 
 
 
 
 
Other assets
$
5

 
$

 
$
1

 
$

Other current liabilities
(4
)
 
(5
)
 

 

Other long-term liabilities
(141
)
 
(272
)
 

 
(56
)
Amounts recognized
$
(140
)
 
$
(277
)
 
$
1

 
$
(56
)
Net Periodic Benefit Costs Not Yet Recognized [Table Text Block]
The portion of the funded status of the plans not yet recognized in net periodic benefit cost as of December 31 is as follows (in millions):
 
Pension
 
Other Postretirement
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
Net loss (gain)
$
442

 
$
518

 
$
(12
)
 
$
39

Prior service credit

 

 
(6
)
 
(13
)
Regulatory deferrals
(4
)
 
(7
)
 
7

 
8

Total
$
438

 
$
511

 
$
(11
)
 
$
34


A reconciliation of the amounts not yet recognized as components of net periodic benefit cost for the years ended December 31, 2017 and 2016 is as follows (in millions):
 
 
 
Accumulated
 
 
 
 
 
Other
 
 
 
Regulatory
 
Comprehensive
 
 
 
Asset
 
Loss
 
Total
Pension
 
 
 
 
 
Balance, December 31, 2015
$
473

 
$
19

 
$
492

Net loss arising during the year
51

 
2

 
53

Net amortization
(33
)
 
(1
)
 
(34
)
Total
18

 
1

 
19

Balance, December 31, 2016
491

 
20

 
511

Net (gain) loss arising during the year
(60
)
 
1

 
(59
)
Net amortization
(13
)
 
(1
)
 
(14
)
Total
(73
)
 

 
(73
)
Balance, December 31, 2017
$
418

 
$
20

 
$
438


 
Regulatory
 
Asset (Liability)
Other Postretirement
 
Balance, December 31, 2015
$
26

Net loss arising during the year
3

Net amortization
5

Total
8

Balance, December 31, 2016
34

Net gain arising during the year
(51
)
Net amortization
6

Total
(45
)
Balance, December 31, 2017
$
(11
)
Defined Benefit Plans, Amounts To Be Recognized In Following Year [Table Text Block]
The net loss, prior service credit and regulatory deferrals that will be amortized in 2018 into net periodic benefit cost are estimated to be as follows (in millions):
 
 
Net
 
Prior Service
 
Regulatory
 
 
 
 
Loss
 
Credit
 
Deferrals
 
Total
 
 
 
 
 
 
 
 
 
Pension
 
$
16

 
$

 
$
(2
)
 
$
14

Other postretirement
 

 
(6
)
 
1

 
(5
)
Total
 
$
16

 
$
(6
)
 
$
(1
)
 
$
9

Plan Assumptions [Table Text Block]
Assumptions used to determine benefit obligations and net periodic benefit cost were as follows:
 
Pension
 
Other Postretirement
 
2017
 
2016
 
2015
 
2017
 
2016
 
2015
 
 
 
 
 
 
 
 
 
 
 
 
Benefit obligations as of December 31:
 
 
 
 
 
 
 
 
 
 
 
Discount rate
3.60
%
 
4.05
%
 
4.40
%
 
3.60
%
 
4.05
%
 
4.35
%
Rate of compensation increase
N/A

 
N/A

 
2.75

 
N/A

 
N/A

 
N/A

 
 
 
 
 
 
 
 
 
 
 
 
Net periodic benefit cost for the years ended December 31:
 
 
 
 
 
 
 
 
 
 
Discount rate
4.05
%
 
4.40
%
 
4.00
%
 
4.05
%
 
4.35
%
 
3.99
%
Expected return on plan assets
7.25

 
7.50

 
7.50

 
7.25

 
7.50

 
7.08

Rate of compensation increase
N/A

 
2.75

 
2.75

 
N/A

 
N/A

 
N/A


In establishing its assumption as to the expected return on plan assets, PacifiCorp utilizes the asset allocation and return assumptions for each asset class based on historical performance and forward-looking views of the financial markets.

As a result of a plan amendment effective on January 1, 2017, the benefit obligation for the Retirement Plan is no longer affected by future increases in compensation. As a result of a labor settlement reached with UMWA in December 2014, the benefit obligation for the other postretirement plan is no longer affected by healthcare cost trends.
Expected Benefit Payments [Table Text Block]
The expected benefit payments to participants in PacifiCorp's pension and other postretirement benefit plans for 2018 through 2022 and for the five years thereafter are summarized below (in millions):
 
Projected Benefit Payments
 
Pension
 
Other Postretirement
 
 
 
 
2018
$
108

 
$
25

2019
107

 
25

2020
103

 
26

2021
99

 
23

2022
94

 
23

2023-2027
393

 
100

Allocation of Plan Assets [Table Text Block]
The target allocations (percentage of plan assets) for PacifiCorp's pension and other postretirement benefit plan assets are as follows as of December 31, 2017:
 
Pension(1)
 
Other Postretirement(1)
 
%
 
%
Debt securities(2)
33 - 38
 
33 - 37
Equity securities(2)
49 - 60
 
61 - 65
Limited partnership interests
7 - 12
 
1 - 3
Other
0 - 1
 
0 - 1

(1)
PacifiCorp's Retirement Plan trust includes a separate account that is used to fund benefits for the other postretirement benefit plan. In addition to this separate account, the assets for the other postretirement benefit plan are held in Voluntary Employees' Beneficiary Association ("VEBA") trusts, each of which has its own investment allocation strategies. Target allocations for the other postretirement benefit plan include the separate account of the Retirement Plan trust and the VEBA trusts.
(2)
For purposes of target allocation percentages and consistent with the plans' investment policy, investment funds are allocated based on the underlying investments in debt and equity securities.
Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following table presents the fair value of plan assets, by major category, for PacifiCorp's defined benefit pension plan (in millions):
 
 
Input Levels for Fair Value Measurements
 
 
 
 
Level 1(1)
 
Level 2(1)
 
Level 3(1)
 
Total
As of December 31, 2017:
 
 
 
 
 
 
 
 
Cash equivalents
 
$

 
$
43

 
$

 
$
43

Debt securities:
 
 
 
 
 
 
 
 
United States government obligations
 
45

 

 

 
45

Corporate obligations
 

 
60

 

 
60

Municipal obligations
 

 
9

 

 
9

Agency, asset and mortgage-backed obligations
 

 
37

 

 
37

Equity securities:
 
 
 
 
 
 
 
 
United States companies
 
416

 

 

 
416

International companies
 
22

 

 

 
22

Total assets in the fair value hierarchy
 
$
483

 
$
149

 
$

 
632

Investment funds(2) measured at net asset value
 
 
 
 
 
 
 
416

Limited partnership interests(3) measured at net asset value
 
 
 
 
 
 
 
63

Investments at fair value
 
 
 
 
 
 
 
$
1,111

 
 
 
 
 
 
 
 
 
As of December 31, 2016:
 
 
 
 
 
 
 
 
Cash equivalents
 
$

 
$
10

 
$

 
$
10

Debt securities:
 
 
 
 
 
 
 
 
United States government obligations
 
25

 

 

 
25

Corporate obligations
 

 
36

 

 
36

Municipal obligations
 

 
6

 

 
6

Agency, asset and mortgage-backed obligations
 

 
37

 

 
37

Equity securities:
 
 
 
 
 
 
 
 
United States companies
 
389

 

 

 
389

International companies
 
15

 

 

 
15

Investment funds(2)
 
83

 

 

 
83

Total assets in the fair value hierarchy
 
$
512

 
$
89

 
$

 
601

Investment funds(2) measured at net asset value
 
 
 
 
 
 
 
337

Limited partnership interests(3) measured at net asset value
 
 
 
 
 
 
 
61

Investments at fair value
 
 
 
 
 
 
 
$
999


(1)
Refer to Note 12 for additional discussion regarding the three levels of the fair value hierarchy.
(2)
Investment funds are substantially comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 60% and 40% respectively, for 2017 and 54% and 46%, respectively, for 2016, and are invested in United States and international securities of approximately 57% and 43%, respectively, for 2017 and 39% and 61%, respectively, for 2016.
(3)
Limited partnership interests include several funds that invest primarily in real estate, buyout, growth equity and venture capital.
The following table presents the fair value of plan assets, by major category, for PacifiCorp's defined benefit other postretirement plan (in millions):
 
 
Input Levels for Fair Value Measurements
 
 
 
 
Level 1(1)
 
Level 2(1)
 
Level 3(1)
 
Total
As of December 31, 2017:
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
4

 
$
3

 
$

 
$
7

Debt securities:
 
 
 
 
 
 
 
 
United States government obligations
 
11

 

 

 
11

Corporate obligations
 

 
16

 

 
16

Municipal obligations
 

 
2

 

 
2

Agency, asset and mortgage-backed obligations
 

 
16

 

 
16

Equity securities:
 
 
 
 
 
 
 
 
United States companies
 
98

 

 

 
98

International companies
 
6

 

 

 
6

Investment funds(2)
 
32

 

 

 
32

Total assets in the fair value hierarchy
 
$
151

 
$
37

 
$

 
188

Investment funds(2) measured at net asset value
 
 
 
 
 
 
 
140

Limited partnership interests(3) measured at net asset value
 
 
 
 
 
 
 
4

Investments at fair value
 
 
 
 
 
 
 
$
332

 
 
 
 
 
 
 
 
 
As of December 31, 2016:
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
4

 
$
1

 
$

 
$
5

Debt securities:
 
 
 
 
 
 
 
 
United States government obligations
 
11

 

 

 
11

Corporate obligations
 

 
13

 

 
13

Municipal obligations
 

 
2

 

 
2

Agency, asset and mortgage-backed obligations
 

 
13

 

 
13

Equity securities:
 
 
 
 
 
 
 
 
United States companies
 
93

 

 

 
93

International companies
 
4

 

 

 
4

Investment funds(2)
 
32

 

 

 
32

Total assets in the fair value hierarchy
 
$
144

 
$
29

 
$

 
173

Investment funds(2) measured at net asset value
 
 
 
 
 
 
 
125

Limited partnership interests(3) measured at net asset value
 
 
 
 
 
 
 
4

Investments at fair value
 
 
 
 
 
 
 
$
302


(1)
Refer to Note 12 for additional discussion regarding the three levels of the fair value hierarchy.
(2)
Investment funds are substantially comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 63% and 37%, respectively, for 2017 and 62% and 38%, respectively, for 2016, and are invested in United States and international securities of approximately 77% and 23%, respectively, for 2017 and 71% and 29%, respectively, for 2016.
(3)
Limited partnership interests include several funds that invest primarily in real estate, buyout, growth equity and venture capital.
The following table presents PacifiCorp's assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions):

 
Input Levels for Fair Value Measurements
 
 
 
 
 
Level 1
 
Level 2
 
Level 3
 
Other(1)
 
Total
As of December 31, 2017:
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
Commodity derivatives
$

 
$
13

 
$

 
$
(4
)
 
$
9

Money market mutual funds(2)
21

 

 

 

 
21

Investment funds
21

 

 

 

 
21

 
$
42

 
$
13

 
$

 
$
(4
)
 
$
51

 
 
 
 
 
 
 
 
 
 
Liabilities - Commodity derivatives
$

 
$
(117
)
 
$

 
$
78

 
$
(39
)
 
 
 
 
 
 
 
 
 
 
As of December 31, 2016:
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
Commodity derivatives
$

 
$
27

 
$

 
$
(7
)
 
$
20

Money market mutual funds (2)
13

 

 

 

 
13

Investment funds
17

 

 

 

 
17

 
$
30

 
$
27

 
$

 
$
(7
)
 
$
50

 
 
 
 
 
 
 
 
 
 
Liabilities - Commodity derivatives
$

 
$
(104
)
 
$

 
$
76

 
$
(28
)

(1)
Represents netting under master netting arrangements and a net cash collateral receivable of $74 million and $69 million as of December 31, 2017 and 2016, respectively.
(2)
Amounts are included in cash and cash equivalents, other current assets and other assets on the Consolidated Balance Sheets. The fair value of these money market mutual funds approximates cost.
Schedule of Multiemployer Plans [Table Text Block]
The following table presents PacifiCorp's and Energy West Mining Company's participation in individually significant joint trustee and multiemployer pension plans for the years ended December 31 (dollars in millions):

 
 
 
 
PPA zone status or
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
plan funded status percentage for
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
plan years beginning July 1,
 
 
 
 
 
Contributions(1)
 
 
Plan name
 
Employer Identification Number
 
2017
 
2016
 
2015
 
Funding improvement plan
 
Surcharge imposed under PPA(1)
 
2017
 
2016
 
2015
 
Year contributions to plan exceeded more than 5% of total contributions(2)
UMWA 1974 Pension Plan
 
52-1050282
 
Critical and Declining
 
Critical and Declining
 
Critical and Declining
 
Implemented
 
Yes
 
$

 
$

 
$
1

 
None
Local 57 Trust Fund
 
87-0640888
 
At least 80%
 
At least 80%
 
At least 80%
 
None
 
None
 
$
7

 
$
8

 
$
8

 
2015, 2014, 2013

(1)
PacifiCorp's and Energy West Mining Company's minimum contributions to the plans are based on the amount of wages paid to employees covered by the Local 57 Trust Fund collective bargaining agreements and the number of mining hours worked for the UMWA 1974 Pension Plan, respectively, subject to ERISA minimum funding requirements. As a result of the plan's critical status, Energy West Mining Company was required to begin paying a surcharge for hours worked on and after December 1, 2014.

(2)
For the UMWA 1974 Pension Plan, information is for plan years beginning July 1, 2015, 2014 and 2013. Information for the plan year beginning July 1, 2016 is not yet available. For the Local 57 Trust Fund, information is for plan years beginning July 1, 2015, 2014 and 2013. Information for the plan year beginning July 1, 2016 is not yet available.
MidAmerican Energy Company [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Net Benefit Costs [Table Text Block]
Net periodic benefit cost for the plans of MidAmerican Energy and the aforementioned affiliates included the following components for the years ended December 31 (in millions):
 
Pension
 
Other Postretirement
 
2017
 
2016
 
2015
 
2017
 
2016
 
2015
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
9

 
$
10

 
$
12

 
$
5

 
$
5

 
$
7

Interest cost
31

 
34

 
32

 
9

 
10

 
9

Expected return on plan assets
(44
)
 
(44
)
 
(46
)
 
(14
)
 
(13
)
 
(15
)
Net amortization
2

 
2

 
2

 
(4
)
 
(4
)
 
(3
)
Net periodic benefit (credit) cost
$
(2
)
 
$
2

 
$

 
$
(4
)
 
$
(2
)
 
$
(2
)
Changes in Fair Value of Plan Assets [Table Text Block]
The following table is a reconciliation of the fair value of plan assets for the years ended December 31 (in millions):
 
Pension
 
Other Postretirement
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
Plan assets at fair value, beginning of year
$
684

 
$
678

 
$
252

 
$
249

Employer contributions
7

 
7

 
1

 
1

Participant contributions

 

 
1

 
1

Actual return on plan assets
114

 
57

 
36

 
14

Benefits paid
(60
)
 
(58
)
 
(13
)
 
(13
)
Plan assets at fair value, end of year
$
745

 
$
684

 
$
277

 
$
252

Changes in Projected Benefit Obligations [Table Text Block]
The following table is a reconciliation of the benefit obligations for the years ended December 31 (in millions):
 
Pension
 
Other Postretirement
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
Benefit obligation, beginning of year
$
773

 
$
785

 
$
233

 
$
234

Service cost
9

 
10

 
5

 
5

Interest cost
31

 
34

 
9

 
10

Participant contributions

 

 
1

 
1

Actuarial loss (gain)
46

 
2

 
11

 
(4
)
Benefits paid
(60
)
 
(58
)
 
(13
)
 
(13
)
Benefit obligation, end of year
$
799

 
$
773

 
$
246

 
$
233

Accumulated benefit obligation, end of year
$
790

 
$
764

 
 
 
 
Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]
The funded status of the plans and the amounts recognized on the Balance Sheets as of December 31 are as follows (in millions):
 
Pension
 
Other Postretirement
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
Plan assets at fair value, end of year
$
745

 
$
684

 
$
277

 
$
252

Less - Benefit obligation, end of year
799

 
773

 
246

 
233

Funded status
$
(54
)
 
$
(89
)
 
$
31

 
$
19

 
 
 
 
 
 
 
 
Amounts recognized on the Balance Sheets:
 
 
 
 
 
 
 
Other assets
$
66

 
$
26

 
$
31

 
$
19

Other current liabilities
(8
)
 
(8
)
 

 

Other liabilities
(112
)
 
(107
)
 

 

Amounts recognized
$
(54
)
 
$
(89
)
 
$
31

 
$
19

Net Periodic Benefit Costs Not Yet Recognized [Table Text Block]
The portion of the funded status of the plans not yet recognized in net periodic benefit cost as of December 31 is as follows (in millions):
 
Pension
 
Other Postretirement
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
Net (gain) loss
$
(11
)
 
$
15

 
$
23

 
$
36

Prior service cost (credit)
1

 
1

 
(25
)
 
(31
)
Total
$
(10
)
 
$
16

 
$
(2
)
 
$
5

A reconciliation of the amounts not yet recognized as components of net periodic benefit cost for the years ended December 31, 2017 and 2016 is as follows (in millions):
 
Regulatory
Asset
 
Regulatory
Liability
 
Receivables
(Payables)
with Affiliates
 
Total
Pension
 
 
 
 
 
 
 
Balance, December 31, 2015
$
22

 
$

 
$
6

 
$
28

Net loss (gain) arising during the year
1

 
(11
)
 

 
(10
)
Net amortization
(1
)
 
(1
)
 

 
(2
)
Total

 
(12
)
 

 
(12
)
Balance, December 31, 2016
22

 
(12
)
 
6

 
16

Net loss (gain) arising during the year
4

 
(29
)
 
1

 
(24
)
Net amortization
(2
)
 

 

 
(2
)
Total
2

 
(29
)
 
1

 
(26
)
Balance, December 31, 2017
$
24

 
$
(41
)
 
$
7

 
$
(10
)

 
Regulatory
Asset
 
Receivables
(Payables)
with Affiliates
 
Total
Other Postretirement
 
 
 
 
 
Balance, December 31, 2015
$
17

 
$
(11
)
 
$
6

Net gain arising during the year
(2
)
 
(3
)
 
(5
)
Net amortization
3

 
1

 
4

Total
1

 
(2
)
 
(1
)
Balance, December 31, 2016
18

 
(13
)
 
5

Net gain arising during the year
(7
)
 
(4
)
 
(11
)
Net amortization
3

 
1

 
4

Total
(4
)
 
(3
)
 
(7
)
Balance, December 31, 2017
$
14

 
$
(16
)
 
$
(2
)
Defined Benefit Plans, Amounts To Be Recognized In Following Year [Table Text Block]
The net loss and prior service cost (credit) that will be amortized in 2018 into net periodic benefit cost are estimated to be as follows (in millions):
 
Net
Loss
 
Prior
Service
Cost (Credit)
 
Total
 
 
 
 
 
 
Pension
$
1

 
$
1

 
$
2

Other postretirement
1

 
(5
)
 
(4
)
Total
$
2

 
$
(4
)
 
$
(2
)
Plan Assumptions [Table Text Block]
Assumptions used to determine benefit obligations and net periodic benefit cost were as follows:
 
Pension
 
Other Postretirement
 
2017
 
2016
 
2015
 
2017
 
2016
 
2015
Benefit obligations as of December 31:
 
 
 
 
 
 
 
 
 
 
 
Discount rate
3.60
%
 
4.10
%
 
4.50
%
 
3.50
%
 
3.90
%
 
4.25
%
Rate of compensation increase
2.75
%
 
2.75
%
 
2.75
%
 
N/A

 
N/A

 
N/A

 
 
 
 
 
 
 
 
 
 
 
 
Net periodic benefit cost for the years ended December 31:
 
 
 
 
 
 
 
 
 
 
 
Discount rate
4.10
%
 
4.50
%
 
4.00
%
 
3.90
%
 
4.25
%
 
3.75
%
Expected return on plan assets(1)
6.75
%
 
7.00
%
 
7.25
%
 
6.50
%
 
6.75
%
 
7.00
%
Rate of compensation increase
2.75
%
 
2.75
%
 
2.75
%
 
N/A

 
N/A

 
N/A

(1)
Amounts reflected are pre-tax values. Assumed after-tax returns for a taxable, non-union other postretirement plan were 4.81% for 2017, and 5.00% for 2016, and 5.18% for 2015.

In establishing its assumption as to the expected return on plan assets, MidAmerican Energy utilizes the asset allocation and return assumptions for each asset class based on historical performance and forward-looking views of the financial markets.
 
2017
 
2016
Assumed healthcare cost trend rates as of December 31:
 
 
 
Healthcare cost trend rate assumed for next year
7.10
%
 
7.40
%
Rate that the cost trend rate gradually declines to
5.00
%
 
5.00
%
Year that the rate reaches the rate it is assumed to remain at
2025
 
2025
Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]
A one percentage-point change in assumed healthcare cost trend rates would have the following effects (in millions):
 
One Percentage-Point
 
Increase
 
Decrease
Increase (decrease) in:
 
Total service and interest cost for the year ended December 31, 2017
$

 
$

Other postretirement benefit obligation as of December 31, 2017
3

 
(3
)
Expected Benefit Payments [Table Text Block]
Net periodic benefit costs assigned to MidAmerican Energy affiliates are reimbursed currently in accordance with its intercompany administrative services agreement. The expected benefit payments to participants in MidAmerican Energy's pension and other postretirement benefit plans for 2017 through 2021 and for the five years thereafter are summarized below (in millions):
 
Projected Benefit Payments
 
Pension
 
Other Postretirement
 
 
 
 
2018
$
60

 
$
19

2019
61

 
20

2020
60

 
21

2021
59

 
22

2022
57

 
21

2023-2027
256

 
98

Allocation of Plan Assets [Table Text Block]
The target allocations (percentage of plan assets) for MidAmerican Energy's pension and other postretirement benefit plan assets are as follows as of December 31, 2017:
 
Pension
 
Other
Postretirement
 
%
 
%
Debt securities(1)
20-50
 
25-45
Equity securities(1)
60-80
 
45-80
Real estate funds
2-8
 
Other
0-3
 
0-5

(1)
For purposes of target allocation percentages and consistent with the plans' investment policy, investment funds are allocated based on the underlying investments in debt and equity securities.
Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following table presents the fair value of plan assets, by major category, for MidAmerican Energy's defined benefit pension plan (in millions):
 
Input Levels for Fair Value Measurements(1)
 
 
 
Level 1
 
Level 2
 
Level 3
 
Total
As of December 31, 2017:
 
 
 
 
 
 
 
Cash equivalents
$

 
$
17

 
$

 
$
17

Debt securities:
 
 
 
 
 
 
 
United States government obligations
21

 

 

 
21

Corporate obligations

 
59

 

 
59

Municipal obligations

 
7

 

 
7

Agency, asset and mortgage-backed obligations

 
33

 

 
33

Equity securities:
 
 
 
 
 
 
 
United States companies
137

 

 

 
137

International equity securities
44

 

 

 
44

Investment funds(2)
74

 

 

 
74

Total assets in the hierarchy
$
276

 
$
116

 
$

 
392

Investment funds(2) measured at net asset value
 
 
 
 
 
 
315

Real estate funds measured at net asset value
 
 
 
 
 
 
38

Total assets measured at fair value
 
 
 
 
 
 
$
745

 
 
 
 
 
 
 
 
As of December 31, 2016:
 
 
 
 
 
 
 
Cash equivalents
$

 
$
17

 
$

 
$
17

Debt securities:
 
 
 
 
 
 
 
United States government obligations
9

 

 

 
9

Corporate obligations

 
53

 

 
53

Municipal obligations

 
6

 

 
6

Agency, asset and mortgage-backed obligations

 
22

 

 
22

Equity securities:
 
 
 
 
 
 
 
United States companies
130

 

 

 
130

International equity securities
39

 

 

 
39

Investment funds(2)
63

 

 

 
63

Total assets in the hierarchy
$
241

 
$
98

 
$

 
339

Investment funds(2) measured at net asset value
 
 
 
 
 
 
295

Real estate funds measured at net asset value
 
 
 
 
 
 
50

Total assets measured at fair value
 
 
 
 
 
 
$
684

(1)
Refer to Note 14 for additional discussion regarding the three levels of the fair value hierarchy.
(2)
Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 69% and 31%, respectively, for 2017 and 74% and 26%, respectively, for 2016. Additionally, these funds are invested in United States and international securities of approximately 72% and 28%, respectively, for 2017 and 71% and 29%, respectively, for 2016.
The following table presents the fair value of plan assets, by major category, for MidAmerican Energy's defined benefit other postretirement plans (in millions):
 
Input Levels for Fair Value Measurements(1)
 
 
 
Level 1
 
Level 2
 
Level 3
 
Total
As of December 31, 2017:
 
 
 
 
 
 
 
Cash equivalents
$
6

 
$

 
$

 
$
6

Debt securities:
 
 
 
 
 
 
 
United States government obligations
5

 

 

 
5

Corporate obligations

 
14

 

 
14

Municipal obligations

 
44

 

 
44

Agency, asset and mortgage-backed obligations

 
12

 

 
12

Equity securities:
 
 
 
 
 
 
 
United States companies
84

 

 

 
84

Investment funds(2)
112

 

 

 
112

Total assets measured at fair value
$
207

 
$
70

 
$

 
$
277

 
 
 
 
 
 
 
 
As of December 31, 2016:
 
 
 
 
 
 
 
Cash equivalents
$
10

 
$

 
$

 
$
10

Debt securities:
 
 
 
 
 
 
 
United States government obligations
5

 

 

 
5

Corporate obligations

 
11

 

 
11

Municipal obligations

 
37

 

 
37

Agency, asset and mortgage-backed obligations

 
11

 

 
11

Equity securities:
 
 
 
 
 
 
 
United States companies
122

 

 

 
122

Investment funds(2)
56

 

 

 
56

Total assets measured at fair value
$
193

 
$
59

 
$

 
$
252

(1)
Refer to Note 14 for additional discussion regarding the three levels of the fair value hierarchy.
(2)
Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 81% and 19%, respectively, for 2017 and 70% and 30%, respectively, for 2016. Additionally, these funds are invested in United States and international securities of approximately 42% and 58%, respectively, for 2017 and 30% and 70%, respectively, for 2016.
The following table presents MidAmerican Energy's assets and liabilities recognized on the Balance Sheets and measured at fair value on a recurring basis (in millions):
 
 
Input Levels for Fair Value Measurements
 
 
 
 
 
 
Level 1
 
Level 2
 
Level 3
 
Other(1)
 
Total
As of December 31, 2017:
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
Commodity derivatives
 
$

 
$
3

 
$
4

 
$
(2
)
 
$
5

Money market mutual funds(2)
 
133

 

 

 

 
133

Debt securities:
 
 
 
 
 
 
 
 
 
 
United States government obligations
 
176

 

 

 

 
176

International government obligations
 

 
5

 

 

 
5

Corporate obligations
 

 
36

 

 

 
36

Municipal obligations
 

 
2

 

 

 
2

Equity securities:
 
 
 
 
 
 
 
 
 
 
United States companies
 
288

 

 

 

 
288

International companies
 
7

 

 

 

 
7

Investment funds
 
15

 

 

 

 
15

 
 
$
619

 
$
46

 
$
4

 
$
(2
)
 
$
667

 
 
 
 
 
 
 
 
 
 
 
Liabilities - commodity derivatives
 
$

 
$
(9
)
 
$
(1
)
 
$
2

 
$
(8
)
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2016
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
Commodity derivatives
 
$

 
$
9

 
$
1

 
$
(2
)
 
$
8

Money market mutual funds(2)
 
1

 

 

 

 
1

Debt securities:
 
 
 
 
 
 
 
 
 
 
United States government obligations
 
161

 

 

 

 
161

International government obligations
 

 
3

 

 

 
3

Corporate obligations
 

 
36

 

 

 
36

Municipal obligations
 

 
2

 

 

 
2

Agency, asset and mortgage-backed obligations
 

 
2

 

 

 
2

Equity securities:
 
 
 
 
 
 
 
 
 
 
United States companies
 
250

 

 

 

 
250

International companies
 
5

 

 

 

 
5

Investment funds
 
9

 

 

 

 
9

 
 
$
426

 
$
52

 
$
1

 
$
(2
)
 
$
477

 
 
 
 
 
 
 
 
 
 
 
Liabilities - commodity derivatives
 
$

 
$
(3
)
 
$
(3
)
 
$
3

 
$
(3
)

(1)
Represents netting under master netting arrangements and a net cash collateral receivable of $- million and $1 million as of December 31, 2017 and 2016, respectively.
(2)
Amounts are included in cash and cash equivalents and investments and restricted cash and investments on the Balance Sheets. The fair value of these money market mutual funds approximates cost.
MidAmerican Funding, LLC and Subsidiaries [Domain]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Net Benefit Costs [Table Text Block]
Pension and postretirement costs allocated by MidAmerican Funding to its parent and other affiliates in each of the years ended December 31, were as follows (in millions):
 
2017
 
2016
 
2015
 
 
 
 
 
 
Pension costs
$
4

 
$
4

 
$
4

Other postretirement costs
(3
)
 
(1
)
 
(2
)