Retirement Plans

3 Months Ended

Mar. 31, 2016

Retirement Plans [Abstract]

Retirement Plans

(13)  Retirement Plans: 

The following tables provide the components of net periodic benefit cost:

	Pension Benefits
	For the three months ended
	March 31,
	2016		2015
($ in millions)
Components of net periodic pension benefit cost
Service cost	$	13	$	13
Interest cost on projected benefit obligation		23		22
Expected return on plan assets		(28)		(32)
Amortization of unrecognized loss		11		7
Net periodic pension benefit cost	$	19	$	10

	Postretirement Benefits
	Other Than Pensions (OPEB)
	For the three months ended
	March 31,
	2016		2015
($ in millions)
Components of net periodic postretirement benefit cost
Service cost	$	3	$	5
Interest cost on projected benefit obligation		7		7
Amortization of prior service cost/(credit)		(2)		(1)
Amortization of unrecognized loss		-		3
Net periodic postretirement benefit cost	$	8	$	14

During the first three months of 2016 and 2015, we capitalized $6million and $5 million, respectively, of pension and OPEB expense into the cost of our capital expenditures, as the costs relate to our engineering and plant construction activities. We made total cash contributions to our pension plan during the three months ended March 31, 2016 of $4 million.  We expect to make contributions to our pension plan of approximately $15 million to $25 million for the full year of 2016, including the impact of the Verizon Transaction.

Our pension plan assets increased from $1,572 million at December 31, 2015 to  $1,604 million at March 31, 2016, an increase of $32 million, or 2%.This increase is a result of positive investment returns net of investment management and administrative fees of $56 million and cash contributions of $4million, offset by benefit payments of $27million during the first three months of 2016.