XML 66 R20.htm IDEA: XBRL DOCUMENT v3.2.0.727
Retirement Benefits (Tables)
 6 Months Ended
Jun. 30, 2015
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Changes in Projected Benefit Obligations
The following table summarizes the Company’s change in benefit obligation for the periods ended June 30, 2015 and December 31, 2014:
Puget Energy and
Puget Sound Energy
Qualified
Pension Benefits
SERP
Pension Benefits
Other
Benefits
 
Six Months Ended
Year
Ended
Six Months Ended
Year
Ended
Six Months Ended
Year
Ended
(Dollars in Thousands)
June 30,
2015
December 31,
2014
June 30,
2015
December 31,
2014
June 30,
2015
December 31,
2014
Change in benefit obligation:
 
 
 
 
 
 
Benefit obligation at beginning of period
$
690,194

$
573,317

$
55,855

$
47,279

$
15,688

$
14,939

Service cost
10,644

17,437

554

1,042

56

112

Interest cost
14,044

28,039

1,140

2,310

311

684

Actuarial loss (gain)
(588
)
104,618

—

7,162

(540
)
1,108

Benefits paid
(27,869
)
(33,217
)
(2,565
)
(1,938
)
(703
)
(1,424
)
Medicare part D subsidy
received
—

—

—

—

221

269

Benefit obligation at end of period
$
686,425

$
690,194

$
54,984

$
55,855

$
15,033

$
15,688
Parent Company [Member]  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Net Benefit Costs
The following tables summarize the Company’s net periodic benefit cost for the three and six months ended June 30, 2015 and 2014:
Puget Energy
Qualified
Pension Benefits
SERP
Pension Benefits
Other
Benefits
 
Three Months Ended
June 30,
(Dollars in Thousands)
2015
2014
2015
2014
2015
2014
Components of net periodic benefit cost:
 
 
 
 
 
 
Service cost
$
5,172

$
4,206

$
277

$
261

$
23

$
26

Interest cost
6,937

6,965

570

577

150

159

Expected return on plan assets
(11,117
)
(10,511
)
—

—

(133
)
(134
)
Amortization of prior service
cost
(495
)
(495
)
11

11

—

—

Amortization of net loss
(gain)
962

—

410

228

(51
)
(130
)
Net periodic benefit cost
$
1,459

$
165

$
1,268

$
1,077

$
(11
)
$
(79
)

Puget Energy
Qualified
Pension Benefits
SERP
Pension Benefits
Other
Benefits
 
Six Months Ended
June 30,
(Dollars in Thousands)
2015
2014
2015
2014
2015
2014
Components of net periodic benefit cost:
 
 
 
 
 
 
Service cost
$
10,644

$
8,718

$
554

$
521

$
56

$
56

Interest cost
14,044

14,020

1,140

1,155

311

342

Expected return on plan assets
(22,519
)
(21,232
)
—

—

(266
)
(267
)
Amortization of prior service
cost
(990
)
(990
)
22

22

—

(197
)
Amortization of net loss
(gain)
1,943

—

820

456

(66
)
—

Net periodic benefit cost
$
3,122

$
516

$
2,536

$
2,154

$
35

$
(66
)
Subsidiaries [Member]  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Net Benefit Costs
Puget Sound Energy
Qualified
SERP
Other
Pension Benefits
Pension Benefits
Benefits
 
Three Months Ended
June 30,
(Dollars in Thousands)
2015
2014
2015
2014
2015
2014
Components of net periodic benefit cost:
 

 

 

 

 

 

Service cost
$
5,172

$
4,206

$
277

$
261

$
23

$
26

Interest cost
6,937

6,965

570

577

150

159

Expected return on plan assets
(11,223
)
(10,708
)
—

—

(133
)
(134
)
Amortization of prior service
cost
(393
)
(393
)
11

11

1

1

Amortization of net loss
(gain)
5,141

3,359

530

365

(120
)
(208
)
Net periodic benefit cost
$
5,634

$
3,429

$
1,388

$
1,214

$
(79
)
$
(156
)



Puget Sound Energy
Qualified
SERP
Other
Pension Benefits
Pension Benefits
Benefits
 
Six Months Ended
June 30,
(Dollars in Thousands)
2015
2014
2015
2014
2015
2014
Components of net periodic benefit cost:
 

 

 

 

 

 

Service cost
$
10,644

$
8,718

$
554

$
521

$
56

$
56

Interest cost
14,044

14,020

1,140

1,155

311

342

Expected return on plan assets
(22,731
)
(21,626
)
—

—

(266
)
(267
)
Amortization of prior service
cost
(786
)
(786
)
22

22

2

2

Amortization of net loss
(gain)
10,277

6,597

1,060

730

(203
)
(352
)
Net periodic benefit cost
$
11,448

$
6,923

$
2,776

$
2,428

$
(100
)
$
(219
)