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Employee Benefit Plans
3 Months Ended
Mar. 31, 2018
Compensation And Retirement Disclosure [Abstract]  
Employee Benefit Plans

Note 19. Employee Benefit Plans

Dominion Energy

The components of Dominion Energy's provision for net periodic benefit cost (credit) were as follows:

 

 

 

Pension Benefits

 

 

Other Postretirement Benefits

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

39

 

 

$

35

 

 

$

7

 

 

$

7

 

Interest cost

 

 

84

 

 

 

86

 

 

 

14

 

 

 

16

 

Expected return on plan assets

 

 

(165

)

 

 

(159

)

 

 

(36

)

 

 

(32

)

Amortization of prior service credit

 

 

 

 

 

 

 

 

(13

)

 

 

(12

)

Amortization of net actuarial loss

 

 

48

 

 

 

40

 

 

 

3

 

 

 

3

 

Settlements

 

 

 

 

 

1

 

 

 

 

 

 

 

Net periodic benefit cost (credit)(1)

 

$

6

 

 

$

3

 

 

$

(25

)

 

$

(18

)

 

(1)

The components of net periodic benefit cost (credit) other than the service cost component are included in other income in the Consolidated Statements of Income.

Employer Contributions

During the three months ended March 31, 2018, Dominion Energy made no contributions to its defined benefit pension plans or other postretirement benefit plans. Dominion Energy expects to contribute approximately $12 million to its other postretirement benefit plans through VEBAs during the remainder of 2018.

 

 

Dominion Energy Gas

Dominion Energy Gas participates in certain Dominion Energy benefit plans as described in Note 21 to the Consolidated Financial Statements in the Companies' Annual Report on Form 10-K for the year ended December 31, 2017. See Note 18 for more information.

The components of Dominion Energy Gas' provision for net periodic benefit cost (credit) for employees represented by collective bargaining units were as follows:

 

 

 

Pension Benefits

 

 

Other Postretirement Benefits

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

4

 

 

$

4

 

 

$

1

 

 

$

1

 

Interest cost

 

 

7

 

 

 

7

 

 

 

3

 

 

 

3

 

Expected return on plan assets

 

 

(37

)

 

 

(35

)

 

 

(8

)

 

 

(6

)

Amortization of prior service credit

 

 

 

 

 

 

 

 

(1

)

 

 

 

Amortization of net actuarial loss

 

 

5

 

 

 

4

 

 

 

1

 

 

 

1

 

Net periodic benefit credit(1)

 

$

(21

)

 

$

(20

)

 

$

(4

)

 

$

(1

)

 

(1)

The components of net periodic benefit credit other than the service cost component are included in other income in the Consolidated Statements of Income.

 

Employer Contributions

During the three months ended March 31, 2018, Dominion Energy Gas made no contributions to its defined benefit pension plans or other postretirement benefit plans. Dominion Energy Gas expects to contribute approximately $12 million to its other postretirement benefit plans through VEBAs, for both employees represented by collective bargaining units and employees not represented by collective bargaining units, during the remainder of 2018.