Retirement Benefits

9 Months Ended

Sep. 30, 2014

BENEFITS [Abstract]

Postemployment Benefits Disclosure [Text Block]

RETIREMENT BENEFITS:

The following table sets forth the components of net period benefit cost of the Partnership’s pension and other postretirement benefit plans:

	Three Months Ended September 30,
	2014						2013
	Pension Benefits			Other Postretirement Benefits			Pension Benefits			Other Postretirement Benefits
Net periodic benefit cost:
Service cost	$	—		$	—		$	—		$	(1	)
Interest cost	8			1			10			2
Expected return on plan assets	(10		)	(2		)	(15		)	(3		)
Prior service cost amortization	—			—			—			1
Actuarial loss amortization	—			—			1			—
Settlement credits	(1		)	—			—			—
	(3		)	(1		)	(4		)	(1		)
Regulatory adjustment	—			—			1			—
Net periodic benefit cost	$	(3	)	$	(1	)	$	(3	)	$	(1	)

	Nine Months Ended September 30,
	2014						2013
	Pension Benefits			Other Postretirement Benefits			Pension Benefits			Other Postretirement Benefits
Net periodic benefit cost:
Service cost	$	1		$	—		$	5		$	—
Interest cost	23			4			28			5
Expected return on plan assets	(30		)	(6		)	(45		)	(7		)
Prior service cost amortization	—			—			—			1
Actuarial (gain) loss amortization	(1		)	—			2			—
Settlement credits	(3		)	—			(2		)	—
	(10		)	(2		)	(12		)	(1		)
Regulatory adjustment	—			—			5			—
Net periodic benefit cost	$	(10	)	$	(2	)	$	(7	)	$	(1	)

Panhandle has historically recovered certain qualified pension benefit plan and other postretirement benefit plan costs through rates charged to utility customers.  Certain utility commissions require that the recovery of these costs be based on the Employee Retirement Income Security Act of 1974, as amended, or other utility commission specific guidelines.  The difference between these regulatory-based amounts and the periodic benefit cost calculated pursuant to GAAP is deferred as a regulatory asset or liability and reflected in expense over periods in which this difference will be recovered in rates, as promulgated by the applicable utility commission.

Panhandle no longer has pension plans after the sale of the assets of Missouri Gas Energy and New England Gas Company in 2013.