Pension and Other Postretirement Benefits (tables)

12 Months Ended

Dec. 31, 2014



	Postretirement Benefit Plans
	Pension Benefits						Other Benefits
In thousands	2014			2013			2014			2013
Reconciliation of change in benefit obligation:
Obligation at January 1	$	391,089		$	435,889		$	28,754		$	33,119
Service cost	7,213			8,698			483			656
Interest cost	18,198			16,400			1,252			1,157
Net actuarial (gain) loss	90,710			(51,043		)	3,454			(4,283		)
Benefits paid	(19,932		)	(18,855		)	(1,871		)	(1,895		)
Obligation at December 31	$	487,278		$	391,089		$	32,072		$	28,754

Reconciliation of change in plan assets:
Fair value of plan assets at January 1	$	267,062		$	249,603		$	—		$	—
Actual return on plan assets	19,957			22,872			—			—
Employer contributions	12,077			13,442			1,871			1,895
Benefits paid	(19,932		)	(18,855		)	(1,871		)	(1,895		)
Fair value of plan assets at December 31	$	279,164		$	267,062		$	—		$	—
Funded status at December 31	$	(208,114	)	$	(124,027	)	$	(32,072	)	$	(28,754	)



	Regulatory Assets																		Other Comprehensive Loss (Income)
	Pension Benefits									Other Postretirement Benefits									Pension Benefits
In thousands	2014			2013			2012			2014			2013			2012			2014			2013			2012
Net actuarial loss (gain)	$	83,027		$	(51,892	)	$	26,504		$	3,454		$	(4,283	)	$	3,182		$	7,221		$	(3,302	)	$	3,511
Amortization of:
Transition obligation	—			—			—			—			—			(411		)	—			—			—
Prior service cost	(230		)	(230		)	(230		)	(197		)	(197		)	(197		)	7			7			35
Actuarial loss	(9,823		)	(16,744		)	(14,482		)	(221		)	(733		)	(435		)	(1,091		)	(1,550		)	(1,150		)
Total	$	72,974		$	(68,866	)	$	11,792		$	3,036		$	(5,213	)	$	2,139		$	6,137		$	(4,845	)	$	2,396



	Regulatory Assets								AOCL
	Pension Benefits				Other Postretirement Benefits				Pension Benefits
In thousands	2014		2013		2014		2013		2014		2013
Prior service cost	$	637	$	867	$	488	$	685	$	2	$	(5	)
Net actuarial loss	192,846		119,638		7,898		4,665		16,604		10,475
Total	$	193,483	$	120,505	$	8,386	$	5,350	$	16,606	$	10,470



	Year Ended December 31,
In thousands	2014			2013
Beginning balance	$	(6,358	)	$	(9,291	)
Amounts reclassified to AOCL	(7,221		)	3,302
Amounts reclassified from AOCL:
Amortization of prior service costs	(7		)	(7		)
Amortization of actuarial losses	1,091			1,550
Total reclassifications before tax	(6,137		)	4,845
Tax (benefit) expense	2,419			(1,912		)
Total reclassifications for the period	(3,718		)	2,933
Ending balance	$	(10,076	)	$	(6,358	)



	Pension Benefits									Other Postretirement Benefits
In thousands	2014			2013			2012			2014			2013			2012
Service cost	$	7,213		$	8,698		$	8,047		$	483		$	656		$	592
Interest cost	18,198			16,400			17,295			1,252			1,157			1,267
Expected return on plan assets	(19,496		)	(18,721		)	(19,082		)	—			—			—
Amortization of transition obligations	—			—			—			—			—			411
Amortization of prior service costs	223			223			195			197			197			197
Amortization of net actuarial loss	10,914			18,294			15,631			221			734			435
Net periodic benefit cost	17,052			24,894			22,086			2,153			2,744			2,902
Amount allocated to construction	(4,625		)	(6,712		)	(5,820		)	(702		)	(856		)	(882		)
Amount deferred to regulatory balancing account⁽¹⁾	(4,578		)	(9,115		)	(7,876		)	—			—			—
Net amount charged to expense	$	7,849		$	9,067		$	8,390		$	1,451		$	1,888		$	2,020



	Pension Benefits						Other Postretirement Benefits
	2014		2013		2012		2014		2013		2012
Assumptions for net periodic benefit cost:
Weighted-average discount rate	4.71	%	3.84	%	4.51	%	4.45	%	3.56	%	4.33	%
Rate of increase in compensation	3.25-5.0%		3.25-5.0%		3.25-5.0%		n/a		n/a		n/a
Expected long-term rate of return	7.50	%	7.50	%	8.00	%	n/a		n/a		n/a
Assumptions for year-end funded status:
Weighted-average discount rate	3.85	%	4.73	%	3.85	%	3.74	%	4.45	%	3.56	%
Rate of increase in compensation	3.25-5.0%		3.25-5.0%		3.25-5.0%		n/a		n/a		n/a
Expected long-term rate of return	7.50	%	7.50	%	7.50	%	n/a		n/a		n/a



In thousands	1% Increase		1% Decrease
Effect on net periodic postretirement health care benefit cost	$	62	$	(55	)
Effect on the accumulated postretirement benefit obligation	1,260		(965		)



In thousands	Pension Benefits		Other Benefits
Employer Contributions:
2013	$	13,907	$	1,895
2014	12,077		1,871
2015 (estimated)	16,567		1,848
Benefit Payments:
2012	18,195		1,971
2013	18,855		1,895
2014	19,932		1,871
Estimated Future Benefit Payments:
2015	20,315		1,848
2016	20,993		1,918
2017	21,784		1,955
2018	22,799		2,007
2019	24,162		2,075
2020-2024	137,839		10,412



In thousands	December 31, 2014
Investments	Level 1		Level 2		Level 3		Total
U.S. large cap equity	$	39,405	$	122	$	—	$	39,527
U.S. small/mid cap equity	27,172		85		—		27,257
Non-U.S. equity	16,369		17,221		—		33,590
Emerging markets equity	—		7,145		—		7,145
Fixed income	—		598		—		598
Long government/credit	40,584		40,235		—		80,819
High yield bonds	—		13,087		—		13,087
Emerging market debt	9,133		—		—		9,133
Real estate funds	18,890		—		—		18,890
Absolute return strategy	—		37,065		—		37,065
Real return strategy	8,308		—		—		8,308
Cash and cash equivalents	—		1,720		—		1,720
Total investments	$	159,861	$	117,278	$	—	$	277,139

	December 31, 2013
Investments	Level 1		Level 2		Level 3		Total
U.S. large cap equity	$	39,124	$	79	$	—	$	39,203
U.S. small/mid cap equity	30,465		55		—		30,520
Non-U.S. equity	16,782		17,202		—		33,984
Emerging markets equity	7,405		—		—		7,405
Fixed income	—		367		—		367
Long government/credit	33,152		32,763		—		65,915
High yield bonds	—		12,890		—		12,890
Emerging market debt	9,987		—		—		9,987
Real estate funds	16,559		—		—		16,559
Absolute return strategy	—		35,339		—		35,339
Real return strategy	13,031		—		—		13,031
Cash and cash equivalents	—		1,418		—		1,418
Total investments	$	166,505	$	100,113	$	—	$	266,618

					December 31,
Receivables					2014		2013
Accrued interest and dividend income					$	510	$	468
Due from broker for securities sold					1,694		1,154
Total receivables					$	2,204	$	1,622
Liabilities
Due to broker for securities purchased					$	179	$	1,178
Total investment in retirement trust					$	279,164	$	267,062