Benefit Plans

6 Months Ended

Jun. 30, 2021

Pension [Member]

Entity Information [Line Items]

Pension and Postretirement Benefits

Benefit Plans

AES Ohio sponsors a defined benefit pension plan for the majority of its employees.

We generally fund pension plan benefits as accrued in accordance with the minimum funding requirements of ERISA and, in addition, make voluntary contributions from time to time. There were $9.8 million and $7.5 million in employer contributions during the six months ended June 30, 2021 and 2020, respectively.

The amounts presented in the following tables for pension include the collective bargaining plan formula, the traditional management plan formula, the cash balance plan formula and the SERP, in the aggregate. The pension costs below have not been adjusted for amounts billed to the Service Company for former AES Ohio employees who are now employed by the Service Company or other AES affiliates that are still participants in the AES Ohio plan. The components of net periodic benefit costs other than service costs are included in Other income / (expense) in the Condensed Consolidated Statements of Operations.

The net periodic benefit cost of the pension benefit plans for the three and six months ended June 30, 2021 and 2020 was:

	Three months ended				Six months ended
	June 30,				June 30,
$ in millions	2021		2020		2021		2020
Service cost	$	1.1	$	1.0	$	2.2	$	1.9
Interest cost	2.0		2.9		4.0		5.9
Expected return on plan assets	(3.7)		(4.7)		(7.4)		(9.4)
Amortization of unrecognized:
Prior service cost	0.2		0.2		0.4		0.5
Actuarial loss	2.3		1.6		4.6		3.1
Net periodic benefit cost	$	1.9	$	1.0	$	3.8	$	2.0

In addition, AES Ohio provides postretirement health care and life insurance benefits to certain retired employees, their spouses and eligible dependents. We have funded a portion of the union-eligible benefits using a Voluntary Employee Beneficiary Association Trust. These postretirement health care benefits and the related unfunded obligation of $8.5 million at June 30, 2021 and $9.0 million at December 31, 2020 were not material to the financial statements in the periods covered by this report.

Subsidiaries [Member]

Entity Information [Line Items]

Pension and Postretirement Benefits

Benefit Plans

AES Ohio sponsors a defined benefit pension plan for the majority of its employees.

We generally fund pension plan benefits as accrued in accordance with the minimum funding requirements of ERISA and, in addition, make voluntary contributions from time to time. There were $9.8 million and $7.5 million in employer contributions during the six months ended June 30, 2021 and 2020, respectively.

The amounts presented in the following tables for pension include the collective bargaining plan formula, the traditional management plan formula, the cash balance plan formula and the SERP, in the aggregate. The pension costs below have not been adjusted for amounts billed to the Service Company for former AES Ohio employees who are now employed by the Service Company or other AES affiliates or for amounts billed to AES Ohio Generation for former employees that were employed by AES Ohio Generation that are still participants in the AES Ohio plan. The components of net periodic benefit costs other than service costs are included in Other income / (expense) in the Condensed Statements of Operations.

The net periodic benefit cost of the pension benefit plans for the three and six months ended June 30, 2021 and 2020 was:

	Three months ended				Six months ended
	June 30,				June 30,
$ in millions	2021		2020		2021		2020
Service cost	$	1.1	$	1.0	$	2.2	$	1.9
Interest cost	2.0		2.9		4.0		5.9
Expected return on plan assets	(3.7)		(4.7)		(7.4)		(9.4)
Amortization of unrecognized:
Prior service cost	0.3		0.4		0.6		0.7
Actuarial loss	2.8		2.1		5.6		4.3
Net periodic benefit cost	$	2.5	$	1.7	$	5.0	$	3.4

In addition, AES Ohio provides postretirement health care and life insurance benefits to certain retired employees, their spouses and eligible dependents. We have funded a portion of the union-eligible benefits using a Voluntary Employee Beneficiary Association Trust. These postretirement health care benefits and the related unfunded obligation of $8.5 million at June 30, 2021 and $9.0 million at December 31, 2020 were not material to the financial statements in the periods covered by this report.