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Benefit Plans and Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2018
Benefit Plans and Other Postretirement Benefits [Abstract]  
Funded Status of Plans
 
 
Pension Benefits
 
Postretirement Benefits
(Millions of Dollars)
 
2018
 
2017
 
2018
 
2017
Change in Benefit Obligation:
 
 
 
 
 
 
 
 
Obligation at Jan. 1
 
$
156.8

 
$
157.5

 
$
16.4

 
$
15.0

Service cost
 
4.8

 
4.6

 
—

 
—

Interest cost
 
5.4

 
6.2

 
0.6

 
0.6

Plan participants’ contributions
 
—

 
—

 
—

 
0.1

Plan amendments
 
—

 
(0.7
)
 
—

 
—

Actuarial (gain) loss
 
(13.4
)
 
6.5

 
(3.3
)
 
2.1

Benefit payments (a)
 
(13.8
)
 
(17.3
)
 
(0.9
)
 
(1.4
)
Obligation at Dec. 31
 
$
139.8

 
$
156.8

 
$
12.8

 
$
16.4

Change in Fair Value of Plan Assets:
 
 
 
 
 
 
 
 
Fair value of plan assets at Jan. 1
 
$
124.9

 
$
119.0

 
$
1.1

 
$
0.5

Actual return on plan assets
 
(11.1
)
 
13.9

 
—

 
—

Plan participants’ contributions
 
—

 
—

 
—

 
0.1

Employer contributions
 
9.5

 
9.3

 
0.2

 
1.9

Benefit payments
 
(13.8
)
 
(17.3
)
 
(0.9
)
 
(1.4
)
Fair value of plan assets at Dec. 31
 
$
109.5

 
$
124.9

 
$
0.4

 
$
1.1

Funded status of plans at Dec. 31
 
$
(30.3
)
 
$
(31.9
)
 
$
(12.4
)
 
$
(15.3
)
Amounts recognized in the Consolidated Balance Sheet at Dec. 31:
 
 
 
 
 
 
 
 
Current liabilities
 
$
—

 
$
—

 
$
(0.8
)
 
$
(0.3
)
Noncurrent liabilities
 
(30.3
)
 
(31.9
)
 
(11.6
)
 
(15.0
)
Net amounts recognized
 
$
(30.3
)
 
$
(31.9
)
 
$
(12.4
)
 
$
(15.3
)
Significant Assumptions Used to Measure Benefit Obligations:
 
 
 
 
 
 
 
 
Discount rate for year-end valuation
 
4.31
%
 
3.63
%
 
4.32
%
 
3.62
%
Expected average long-term increase in compensation level
 
3.75

 
3.75

 
N/A

 
N/A

Mortality table
 
RP-2014

 
RP-2014

 
RP-2014

 
RP-2014

Health care costs trend rate — initial: Pre-65
 
N/A

 
N/A

 
6.5
%
 
7.0
%
Health care costs trend rate — initial: Post-65
 
N/A

 
N/A

 
5.3
%
 
5.5
%
Ultimate trend assumption — initial: Pre-65
 
N/A

 
N/A

 
4.5
%
 
4.5
%
Ultimate trend assumption — initial: Post-65
 
N/A

 
N/A

 
4.5
%
 
4.5
%
Years until ultimate trend is reached
 
N/A

 
N/A

 
4

 
5
Amounts Not Yet Recognized as Components of Net Periodic Benefit Cost
 
 
Pension Benefits
 
Postretirement Benefits
(Millions of Dollars)
 
2018
 
2017
 
2018
 
2017
Amounts Not Yet Recognized as Components of Net Periodic Benefit Cost:
 
 
 
 
 
 
 
 
Net loss
 
$
74.3

 
$
80.4

 
$
6.8

 
$
10.6

Prior service credit
 
(0.3
)
 
(0.3
)
 
(1.4
)
 
(1.8
)
Total
 
$
74.0

 
$
80.1

 
$
5.4

 
$
8.8

Amounts Not Yet Recognized as Components of Net Periodic Benefit Cost Have Been Recorded as Follows Based Upon Expected Recovery in Rates:
 
 
 
 
 
 
 
 
Current regulatory assets
 
$
5.3

 
$
5.5

 
$
0.2

 
$
0.1

Noncurrent regulatory assets
 
68.7

 
74.6

 
5.2

 
8.7

Total
 
$
74.0

 
$
80.1

 
$
5.4

 
$
8.8
Components of Net Periodic Benefit Costs
 
 
Pension Benefits
 
Postretirement Benefits
(Millions of Dollars)
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
Service cost
 
$
4.8

 
$
4.6

 
$
4.4

 
$
—

 
$
—

 
$
—

Interest cost
 
5.4

 
6.2

 
6.9

 
0.6

 
0.6

 
0.7

Expected return on plan assets
 
(9.0
)
 
(9.2
)
 
(9.2
)
 
(0.1
)
 
—

 
—

Amortization of prior service credit
 
—

 
0.1

 
0.1

 
(0.4
)
 
(0.4
)
 
(0.4
)
Amortization of net loss
 
5.7

 
5.9

 
5.4

 
0.6

 
0.4

 
0.3

Settlement charge (a)
 
7.2

 
7.1

 
—

 
—

 
—

 
—

Net periodic pension cost (credit)
 
$
14.1

 
$
14.7

 
$
7.6

 
$
0.7

 
$
0.6

 
$
0.6

Costs not recognized due to effects of regulation
 
(3.4
)
 
(4.2
)
 
—

 
—

 
—

 
—

Net benefit cost (credit) recognized for financial reporting
 
$
10.7

 
$
10.5

 
$
7.6

 
$
0.7

 
$
0.6

 
$
0.6

Significant Assumptions Used to Measure Costs:
 
 
 
 
 
 
 
 
 
 
 
 
Discount rate
 
3.63
%
 
4.13
%
 
4.66
%
 
3.62
%
 
4.13
%
 
4.65
%
Expected average long-term increase in compensation level
 
3.75

 
3.75

 
4.00

 
—

 
—

 
—

Expected average long-term rate of return on assets
 
7.10

 
7.10

 
7.10

 
5.30

 
5.80

 
5.80

(a) 
A settlement charge is required when the amount of all lump-sum distributions during the year is greater than the sum of the service and interest cost components of the annual net periodic pension cost. In 2018 and 2017, as a result of lump-sum distributions during the 2018 and 2017 plan years, NSP-Wisconsin recorded a total pension settlement charge of $7.2 million in 2018 and $7.1 million in 2017, a total of $2 million and $2 million of that amount was recorded in the income statement in 2018 and 2017.
Target Asset Allocations and Plan Assets Measured at Fair Value
Target asset allocations:
 
 
Pension Benefits
 
Postretirement Benefits
 
 
2018
 
2017
 
2018
 
2017
Domestic and international equity securities
 
37
%
 
38
%
 
18
%
 
24
%
Long-duration fixed income and interest rate swap securities
 
28

 
23

 
—

 
—

Short-to-intermediate fixed income securities
 
18

 
21

 
70

 
60

Alternative investments
 
15

 
16

 
8

 
9

Cash
 
2

 
2

 
4

 
7

Total
 
100
%
 
100
%
 
100
%
 
100
%
Plan Assets
The following presents, for each of the fair value hierarchy levels, NSP-Wisconsin’s pension plan assets measured at fair value:
 
 
Dec. 31, 2018 (a)
 
Dec. 31, 2017 (a)
(Thousands of Dollars)
 
Level 1
 
Level 2
 
Level 3
 
Measured at NAV
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Measured at NAV
 
Total
Cash equivalents
 
$
4.9

 
$
—

 
$
—

 
$
—

 
$
4.9

 
$
8.1

 
$
—

 
$
—

 
$
—

 
$
8.1

Commingled funds:
 
37.1

 
—

 
—

 
41.8

 
78.9

 
43.2

 
—

 
—

 
45.9

 
89.1

Debt securities:
 
—

 
22.2

 
—

 
—

 
22.2

 
—

 
24.1

 
—

 
—

 
24.1

Equity securities:
 
4.6

 
—

 
—

 
—

 
4.6

 
4.9

 
—

 
—

 
—

 
4.9

Other
 
—

 
0.2

 
—

 
(1.3
)
 
(1.1
)
 
(1.3
)
 
0.1

 
—

 
—

 
(1.2
)
Total
 
$
46.6

 
$
22.4

 
$
—

 
$
40.5

 
$
109.5

 
$
54.9

 
$
24.2

 
$
—

 
$
45.8

 
$
124.9


(a) 
See Note 8 for further information on fair value measurement inputs and methods.
The following presents, for each of the fair value hierarchy levels, NSP-Wisconsin’s postretirement benefit plan assets that were measured at fair value:
 
 
Dec. 31, 2018 (a)
 
Dec. 31, 2017 (a)
(Millions of Dollars)
 
Level 1
 
Level 2
 
Level 3
 
Measured at NAV
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Measured at NAV
 
Total
Cash equivalents
 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
0.1

 
$
—

 
$
—

 
$
—

 
$
0.1

Insurance contracts
 
—

 
0.1

 
—

 
—

 
0.1

 
—

 
0.1

 
—

 
—

 
0.1

Commingled funds
 
0.1

 
—

 
—

 
—

 
0.1

 
0.3

 
—

 
—

 
—

 
0.3

Debt securities
 
—

 
0.2

 
—

 
—

 
0.2

 
—

 
0.5

 
—

 
—

 
0.5

Equity securities
 
—

 
—

 
—

 
—

 
—

 
0.1

 
—

 
—

 
—

 
0.1

Total
 
$
0.1

 
$
0.3

 
$
—

 
$
—

 
$
0.4

 
$
0.5

 
$
0.6

 
$
—

 
$
—

 
$
1.1

(a) 
See Note 8 for further information on fair value measurement inputs and methods.
Projected Benefit Payments for the Pension and Postretirement Benefit Plans
(Thousands of Dollars)
 
Projected Pension
Benefit Payments
 
Gross Projected
Postretirement
Health Care
Benefit Payments
 
Expected Medicare
Part D Subsidies
 
Net Projected
Postretirement
Health Care
Benefit Payments
2019
 
$
14.6

 
$
1.2

 
$
—

 
$
1.2

2020
 
10.9

 
1.1

 
—

 
1.1

2021
 
10.9

 
1.1

 
—

 
1.1

2022
 
10.8

 
1.0

 
—

 
1.0

2023
 
11.1

 
1.0

 
—

 
1.0

2024-2028
 
55.5

 
4.2

 
—

 
4.2