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Employee Benefit Plans Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]  
Schedule of Net Benefit Costs [Table Text Block]
Net periodic benefit cost for the plans included the following components for the years ended December 31 (in millions):

 
Pension
 
Other Postretirement
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
 
 
 
 
 
 
 
 
 
 
 
Service cost

$
5

 
$
6

 
$
7

 
$
6

 
$
9

 
$
7

Interest cost
57

 
54

 
61

 
28

 
25

 
28

Expected return on plan assets
(76
)
 
(74
)
 
(74
)
 
(31
)
 
(30
)
 
(30
)
Net amortization
29

 
48

 
34

 
2

 
8

 
4

Net periodic benefit cost
$
15

 
$
34

 
$
28

 
$
5

 
$
12

 
$
9

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]
The following table is a reconciliation of the fair value of plan assets for the years ended December 31 (in millions):
 
Pension
 
Other Postretirement
 
2014
 
2013
 
2014
 
2013
 
 
 
 
 
 
 
 
Plan assets at fair value, beginning of year
$
1,171

 
$
1,012

 
$
486

 
$
424

Employer contributions
10

 
63

 
1

 
8

Participant contributions

 

 
7

 
7

Actual return on plan assets
53

 
213

 
25

 
86

Benefits paid
(88
)
 
(117
)
 
(37
)
 
(39
)
Plan assets at fair value, end of year
$
1,146

 
$
1,171

 
$
482

 
$
486

Schedule of Changes in Projected Benefit Obligations [Table Text Block]
The following table is a reconciliation of the benefit obligations for the years ended December 31 (in millions):
 
Pension
 
Other Postretirement
 
2014
 
2013
 
2014
 
2013
 
 
 
 
 
 
 
 
Benefit obligation, beginning of year
$
1,230

 
$
1,391

 
$
598

 
$
632

Service cost
5

 
6

 
6

 
9

Interest cost
57

 
54

 
28

 
25

Participant contributions

 

 
7

 
7

Actuarial loss (gain)
174

 
(104
)
 
(63
)
 
(36
)
Benefits paid
(88
)
 
(117
)
 
(37
)
 
(39
)
Benefit obligation, end of year
$
1,378

 
$
1,230

 
$
539

 
$
598

Accumulated benefit obligation, end of year
$
1,378

 
$
1,229

 
 
 
 
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]
The funded status of the plans and the amounts recognized on the Consolidated Balance Sheets as of December 31 are as follows (in millions):
 
Pension
 
Other Postretirement
 
2014
 
2013
 
2014
 
2013
 
 
 
 
 
 
 
 
Plan assets at fair value, end of year
$
1,146

 
$
1,171

 
$
482

 
$
486

Less - Benefit obligation, end of year
1,378

 
1,230

 
539

 
598

Funded status
$
(232
)
 
$
(59
)
 
$
(57
)
 
$
(112
)
 
 
 
 
 
 
 
 
Amounts recognized on the Consolidated Balance Sheets:
 
 
 
 
 
 
 
Other current liabilities
$
(4
)
 
$
(4
)
 
$

 
$

Other long-term liabilities
(228
)
 
(55
)
 
(57
)
 
(112
)
Amounts recognized
$
(232
)
 
$
(59
)
 
$
(57
)
 
$
(112
)
Schedule of Net Periodic Benefit Costs Not Yet Recognized [Table Text Block]
The portion of the funded status of the plans not yet recognized in net periodic benefit cost as of December 31 is as follows (in millions):
 
Pension
 
Other Postretirement
 
2014
 
2013
 
2014
 
2013
 
 
 
 
 
 
 
 
Net loss
$
520

 
$
361

 
$
41

 
$
108

Prior service credit
(21
)
 
(29
)
 
(26
)
 
(33
)
Regulatory deferrals

(3
)
 
(4
)
 
2

 
2

Total
$
496

 
$
328

 
$
17

 
$
77


A reconciliation of the amounts not yet recognized as components of net periodic benefit cost for the years ended December 31, 2014 and 2013 is as follows (in millions):
 
 
 
Accumulated
 
 
 
 
 
Other
 
 
 
Regulatory
 
Comprehensive
 
 
 
Asset
 
Loss
 
Total
Pension
 
 
 
 
 
Balance, December 31, 2012
$
599

 
$
19

 
$
618

Net gain arising during the year
(239
)
 
(3
)
 
(242
)
Net amortization
(47
)
 
(1
)
 
(48
)
Total
(286
)
 
(4
)
 
(290
)
Balance, December 31, 2013
313

 
15

 
328

Net loss arising during the year
189

 
8

 
197

Net amortization
(28
)
 
(1
)
 
(29
)
Total
161

 
7

 
168

Balance, December 31, 2014
$
474

 
$
22

 
$
496


 
Regulatory
 
Asset
Other Postretirement
 
Balance, December 31, 2012
$
177

Net gain arising during the year
(92
)
Net amortization
(8
)
Total
(100
)
Balance, December 31, 2013
77

Net gain arising during the year
(58
)
Net amortization
(2
)
Total
(60
)
Balance, December 31, 2014
$
17

Schedule of Defined Benefit Plan, Amounts To Be Recognized In Following Year [Table Text Block]
The net loss, prior service credit and regulatory deferrals that will be amortized in 2015 into net periodic benefit cost are estimated to be as follows (in millions):
 
 
Net
 
Prior Service
 
Regulatory
 
 
 
 
Loss
 
Credit
 
Deferrals
 
Total
 
 
 
 
 
 
 
 
 
Pension
 
$
50

 
$
(8
)
 
$
(1
)
 
$
41

Other postretirement
 
2

 
(7
)
 
1

 
(4
)
Total
 
$
52

 
$
(15
)
 
$

 
$
37

Schedule of Assumptions Used [Table Text Block]
Assumptions used to determine benefit obligations and net periodic benefit cost were as follows:
 
Pension
 
Other Postretirement
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
 
 
 
 
 
 
 
 
 
 
 
Benefit obligations as of December 31:
 
 
 
 
 
 
 
 
 
 
 
Discount rate
4.00
%
 
4.80
%
 
4.05
%
 
3.90
%
 
4.90
%
 
4.10
%
Rate of compensation increase
2.75

 
3.00

 
3.00

 
N/A

 
N/A

 
N/A

 
 
 
 
 
 
 
 
 
 
 
 
Net periodic benefit cost for the years ended December 31:
 
 
 
 
 
 
 
 
 
 
Discount rate
4.80
%
 
4.05
%
 
4.90
%
 
4.90
%
 
4.10
%
 
4.95
%
Expected return on plan assets
7.50

 
7.50

 
7.50

 
7.50

 
7.50

 
7.50

Rate of compensation increase
3.00

 
3.00

 
3.50

 
N/A

 
N/A

 
N/A


In establishing its assumption as to the expected return on plan assets, PacifiCorp utilizes the asset allocation and return assumptions for each asset class based on forward-looking views of the financial markets and historical performance.
 
2014
 
2013
Assumed healthcare cost trend rates as of December 31:
 
 
 
Healthcare cost trend rate assumed for next year
8.00
%
 
8.00
%
Rate that the cost trend rate gradually declines to
5.00
%
 
5.00
%
Year that the rate reaches the rate it is assumed to remain at

2025

 
2019

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]
A one percentage-point change in assumed healthcare cost trend rates would have the following effects (in millions):
 
Increase (Decrease)
 
One Percentage-Point
 
One Percentage-Point
 
Increase
 
Decrease
Increase (decrease) in:
 
 
 
Total service and interest cost for the year ended December 31, 2014
$
3

 
$
(2
)
Other postretirement benefit obligation as of December 31, 2014

 

Schedule of Expected Benefit Payments [Table Text Block]
The expected benefit payments to participants in PacifiCorp's pension and other postretirement benefit plans for 2015 through 2019 and for the five years thereafter are summarized below (in millions):
 
Projected Benefit Payments
 
Pension
 
Other Postretirement
 
 
 
 
2015
$
106

 
$
184

2016
111

 
29

2017
108

 
28

2018
107

 
28

2019
109

 
27

2020 - 2024
465

 
126

Schedule of Allocation of Plan Assets [Table Text Block]
The target allocations (percentage of plan assets) for PacifiCorp's pension and other postretirement benefit plan assets are as follows as of December 31, 2014:
 
Pension(1)
 
Other Postretirement(1)
 
%
 
%
Debt securities(2)
33 - 37
 
33 - 37
Equity securities(2)
53 - 57
 
61 - 65
Limited partnership interests
8 - 12
 
1 - 3
Other
0 - 1
 
0 - 1

(1)
PacifiCorp's Retirement Plan trust includes a separate account that is used to fund benefits for the other postretirement benefit plan. In addition to this separate account, the assets for the other postretirement benefit plan are held in Voluntary Employees' Beneficiary Association ("VEBA") trusts, each of which has its own investment allocation strategies. Target allocations for the other postretirement benefit plan include the separate account of the Retirement Plan trust and the VEBA trusts.
(2)
For purposes of target allocation percentages and consistent with the plans' investment policy, investment funds are allocated based on the underlying investments in debt and equity securities.
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following table presents the fair value of plan assets, by major category, for PacifiCorp's defined benefit pension plan (in millions):
 
 
Input Levels for Fair Value Measurements
 
 
 
 
Level 1(1)
 
Level 2(1)
 
Level 3(1)
 
Total
As of December 31, 2014
 
 
 
 
 
 
 
 
Cash equivalents
 
$

 
$
8

 
$

 
$
8

Debt securities:
 
 
 
 
 
 
 
 
United States government obligations
 
15

 

 

 
15

Corporate obligations
 

 
53

 

 
53

Municipal obligations
 

 
8

 

 
8

Agency, asset and mortgage-backed obligations
 

 
48

 

 
48

Equity securities:
 
 
 
 
 
 
 
 
United States companies
 
488

 

 

 
488

International companies
 
16

 

 

 
16

Investment funds(2)
 
217

 
223

 

 
440

Limited partnership interests(3)
 

 

 
70

 
70

Total
 
$
736

 
$
340

 
$
70

 
$
1,146

 
 
 
 
 
 
 
 
 
As of December 31, 2013
 
 
 
 
 
 
 
 
Cash equivalents
 
$

 
$
18

 
$

 
$
18

Debt securities:
 
 
 
 
 
 
 
 
United States government obligations
 
13

 

 

 
13

International government obligations
 

 
1

 

 
1

Corporate obligations
 

 
48

 

 
48

Municipal obligations
 

 
8

 

 
8

Agency, asset and mortgage-backed obligations
 

 
50

 

 
50

Equity securities:
 
 
 
 
 
 
 
 
United States companies
 
489

 

 

 
489

International companies
 
16

 

 

 
16

Investment funds(2)
 
215

 
227

 

 
442

Limited partnership interests(3)
 

 

 
86

 
86

Total
 
$
733

 
$
352

 
$
86

 
$
1,171


(1)
Refer to Note 12 for additional discussion regarding the three levels of the fair value hierarchy.
(2)
Investment funds are substantially comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 50% and 50%, respectively, for 2014 and 2013, and are invested in United States and international securities of approximately 43% and 57%, respectively, for 2014 and 42% and 58%, respectively, for 2013.
(3)
Limited partnership interests include several funds that invest primarily in buyout, growth equity, venture capital and real estate.


The following table presents the fair value of plan assets, by major category, for PacifiCorp's defined benefit other postretirement plan (in millions):
 
 
Input Levels for Fair Value Measurements
 
 
 
 
Level 1(1)
 
Level 2(1)
 
Level 3(1)
 
Total
As of December 31, 2014
 
 
 
 
 
 
 
 
Cash and cash equivalents(2)
 
$
139

 
$

 
$

 
$
139

Debt securities:
 
 
 
 
 
 
 
 
United States government obligations
 
8

 

 

 
8

Corporate obligations
 

 
18

 

 
18

Municipal obligations
 

 
2

 

 
2

Agency, asset and mortgage-backed obligations
 

 
16

 

 
16

Equity securities:
 
 
 
 
 
 
 
 
United States companies
 
112

 

 

 
112

International companies
 
4

 

 

 
4

Investment funds(3)
 
84

 
94

 

 
178

Limited partnership interests(4)
 

 

 
5

 
5

Total
 
$
347

 
$
130

 
$
5

 
$
482

 
 
 
 
 
 
 
 
 
As of December 31, 2013
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
3

 
$
1

 
$

 
$
4

Debt securities:
 
 
 
 
 
 
 
 
United States government obligations
 
1

 

 

 
1

Corporate obligations
 

 
4

 

 
4

Municipal obligations
 

 
1

 

 
1

Agency, asset and mortgage-backed obligations
 

 
4

 

 
4

Equity securities:
 
 
 
 
 
 
 
 
United States companies
 
167

 

 

 
167

International companies
 
6

 

 

 
6

Investment funds(3)
 
173

 
120

 

 
293

Limited partnership interests(4)
 

 

 
6

 
6

Total
 
$
350

 
$
130

 
$
6

 
$
486


(1)
Refer to Note 12 for additional discussion regarding the three levels of the fair value hierarchy.
(2)
In December 2014, PacifiCorp began to migrate funds to cash and cash equivalents in anticipation of the $150 million to be transferred to the UMWA in June 2015 as a result of the other postretirement settlement. Remaining investments were rebalanced to align to target investment allocations.
(3)
Investment funds are substantially comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 63% and 37%, respectively, for 2014 and 49% and 51%, respectively, for 2013, and are invested in United States and international securities of approximately 64% and 36%, respectively, for 2014 and 70% and 30%, respectively, for 2013.
(4)
Limited partnership interests include several funds that invest primarily in buyout, growth equity, venture capital and real estate.
The following table presents PacifiCorp's assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions):

 
Input Levels for Fair Value Measurements
 
 
 
 
 
Level 1
 
Level 2
 
Level 3
 
Other(1)
 
Total
As of December 31, 2014
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
Commodity derivatives
$

 
$
25

 
$
4

 
$
(11
)
 
$
18

Money market mutual funds(2)

30

 

 

 

 
30

 
$
30

 
$
25

 
$
4

 
$
(11
)
 
$
48

 
 
 
 
 
 
 
 
 
 
Liabilities - Commodity derivatives
$

 
$
(114
)
 
$

 
$
39

 
$
(75
)
 
 
 
 
 
 
 
 
 
 
As of December 31, 2013
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
Commodity derivatives
$

 
$
12

 
$
2

 
$
(4
)
 
$
10

Money market mutual funds(2)

61

 

 

 

 
61

 
$
61

 
$
12

 
$
2

 
$
(4
)
 
$
71

 
 
 
 
 
 
 
 
 
 
Liabilities - Commodity derivatives
$

 
$
(69
)
 
$

 
$
16

 
$
(53
)

(1)
Represents netting under master netting arrangements and a net cash collateral receivable of $28 million and $12 million as of December 31, 2014 and 2013, respectively.
(2)
Amounts are included in cash and cash equivalents, other current assets and other assets on the Consolidated Balance Sheets. The fair value of these money market mutual funds approximates cost.
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]
The following table reconciles the beginning and ending balances of PacifiCorp's plan assets measured at fair value using significant Level 3 inputs for the years ended December 31 (in millions):
 
 
Limited Partnership Interests
 
 
Pension
 
Other Postretirement
 
 
 
 
 
Balance, December 31, 2011
 
$
71

 
$
6

Actual return on plan assets still held at December 31, 2012
 
7

 

Purchases, sales, distributions and settlements
 
18

 
1

Balance, December 31, 2012
 
96

 
7

Actual return on plan assets still held at December 31, 2013
 
16

 
1

Purchases, sales, distributions and settlements
 
(26
)
 
(2
)
Balance, December 31, 2013
 
86

 
6

Actual return on plan assets still held at December 31, 2014
 
(1
)
 

Purchases, sales, distributions and settlements
 
(15
)
 
(1
)
Balance, December 31, 2014
 
$
70

 
$
5

Schedule of Multiemployer Plans [Table Text Block]
The following table presents PacifiCorp's and Energy West Mining Company's participation in individually significant joint trustee and multiemployer pension plans for the years ended December 31 (dollars in millions):

 
 
 
 
PPA zone status or
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
plan funded status percentage for
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
plan years beginning July 1,
 
 
 
 
 
Contributions(1)
 
 
Plan name
 
Employer Identification Number
 
2014
 
2013
 
2012
 
Funding improvement plan
 
Surcharge imposed under PPA(1)
 
2014
 
2013
 
2012
 
Year contributions to plan exceeded more than 5% of total contributions(2)
UMWA 1974 Pension Trust
 
52-1050282
 
Critical
 
Seriously Endangered
 
Seriously Endangered
 
Implemented
 
Yes
 
$
2

 
$
3

 
$
3

 
None
Local 57 Trust Fund
 
87-0640888
 
At least 80%
 
At least 80%
 
At least 80%
 
None
 
None
 
$
9

 
$
9

 
$
12

 
2013, 2012, 2011


(1)
PacifiCorp's and Energy West Mining Company's minimum contributions to the plans are based on the amount of wages paid to employees covered by the Local 57 Trust Fund collective bargaining agreements and the number of mining hours worked for the UMWA 1974 Pension Trust, respectively, subject to ERISA minimum funding requirements. As a result of the plan's critical status, Energy West Mining Company was required to begin paying a surcharge for hours worked on and after December 1, 2014.

(2)
For the UMWA 1974 Pension Trust, information is for plan years beginning July 1, 2012 and 2011. Information for the plan years beginning July 1, 2014 and 2013 is not yet available. For the Local 57 Trust Fund, information is for plan years beginning July 1, 2013, 2012 and 2011. Information for the plan year beginning July 1, 2014 is not yet available.