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Employee Benefits (Tables)
12 Months Ended
Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]  
Schedule of pension and other postretirement benefit plan asset allocation
Qualified pension and other postretirement benefit plan assets were invested as follows:
 
Actual Allocation
 
Policy Range
 
December 31,
 
December 31,
 
2014
 
2013
 
2014
 
2013
Total domestic equity securities
38
%
 
38
%
 
35
%
-
45
%
 
35
%
-
45
%
Foreign equity securities
 
 
 
 
 
 
 
 
 
 
 
Developed market foreign equity securities
18
%
 
20
%
 
 
 
 
 
 
 
 
Emerging market foreign equity securities
4
%
 
5
%
 
 
 
 
 
 
 
 
Total foreign securities
22
%
 
25
%
 
25
%
-
35
%
 
25
%
-
35
%
Debt securities
 
 
 
 
 
 
 
 
 
 
 
Investment-grade intermediate-term debt
7
%
 
7
%
 
 
 
 
 
 
 
 
Investment-grade long-term debt
14
%
 
11
%
 
 
 
 
 
 
 
 
Below-investment-grade debt
9
%
 
9
%
 
 
 
 
 
 
 
 
Total debt securities
30
%
 
27
%
 
25
%
-
35
%
 
25
%
-
35
%
Inflation protection securities
9
%
 
9
%
 
%
-
10
%
 
%
-
10
%
Cash and short-term investments
1
%
 
1
%
 
%
-
3
%
 
%
-
3
%
Pension and postretirement benefit assets fair value by level
The following tables set forth, by level within the fair value hierarchy, qualified pension and other postretirement benefit plan assets at fair value as of December 31, 2014 and 2013:
 
December 31, 2014
 
Level 1
 
Level 2
 
Total
 
(in millions)
Corporate bonds
$

 
$
1.5

 
$
1.5

U.S. government securities

 
12.9

 
12.9

Registered investment companies:
 
 
 
 
 
     Fixed income funds
114.9

 

 
114.9

     Inflation protection fund
34.5

 

 
34.5

     Domestic equity fund
1.6

 

 
1.6

Commingled funds:
 
 
 
 
 
Cash equivalent funds

 
6.7

 
6.7

Domestic equity index fund

 
275.8

 
275.8

Foreign equity growth fund

 
41.2

 
41.2

Foreign equity index funds

 
77.8

 
77.8

Corporate debt funds

 
91.0

 
91.0

Inflation protection fund

 
33.1

 
33.1

Foreign equity growth 103-12 investment entity

 
46.2

 
46.2

Total
$
151.0

 
$
586.2

 
$
737.2


 
December 31, 2013
 
Level 1
 
Level 2
 
Total
 
(in millions)
Corporate bonds
$

 
$
1.7

 
$
1.7

U.S. government securities

 
1.6

 
1.6

Registered investment companies:
 
 
 
 
 
     Fixed income funds
110.7

 

 
110.7

     Inflation protection fund
29.4

 

 
29.4

     Domestic equity fund
2.0

 

 
2.0

Commingled funds:
 
 
 
 
 
Cash equivalent funds

 
3.5

 
3.5

Domestic equity index fund

 
256.2

 
256.2

Foreign equity growth fund

 
42.9

 
42.9

Foreign equity index funds

 
76.0

 
76.0

Corporate debt funds

 
72.1

 
72.1

Inflation protection fund

 
28.8

 
28.8

Foreign equity growth 103-12 investment entity

 
47.1

 
47.1

Total
$
142.1

 
$
529.9

 
$
672.0


Assumptions used to calculate benefit obligations
The qualified pension projected benefit obligation was measured using the following assumptions at December 31:
 
2014
 
2013
Discount rate
4.10
%
 
4.90
%
Rate of increase in compensation
5.50

 
5.50

Long-term return on assets
7.00

 
7.25


The nonqualified pension projected benefit obligation was measured using the following assumptions at December 31:
 
2014
 
2013
Discount rate
2.90
%
 
3.30
%
Rate of increase in compensation
5.50

 
5.50


The postretirement accumulated benefit obligation was measured using the following assumptions at December 31:
 
2014
 
2013
Discount rate
4.00
%
 
4.70
%
Long-term return on assets
7.00
 
 
7.25
 
Health-care inflation rate
7.50
 
 
8.00
 
 
decreasing to 
 
 
decreasing to
 
 
4.50
%
by
2021

 
4.50
%
by
2021

Changes in benefit obligation, changes in fair value of plan assets, and underfunded status
Plan obligations and fair value of all plan assets are shown in the following table:
 
Pension
 
Other Postretirement Benefits
 
Year Ended December 31,
 
Year Ended December 31,
 
2014
 
2013
 
2014
 
2013
 
(in millions)
Change in benefit obligation
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
702.7

 
$
760.3

 
$
86.3

 
$
94.4

Service cost
11.8

 
13.9

 
0.6

 
0.7

Interest cost
33.4

 
30.6

 
3.8

 
3.7

Change in plan assumptions
109.1

 
(73.6
)
 
4.9

 
(8.6
)
Actuarial (gain)
(0.7
)
 
(7.7
)
 
(3.0
)
 
(0.5
)
Benefits paid
(22.3
)
 
(20.8
)
 
(1.8
)
 
(3.4
)
Benefit obligation at end of year
834.0

 
702.7

 
90.8

 
86.3

 
 
 
 
 
 
 
 
Change in plan assets
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
628.2

 
510.8

 
43.8

 
37.6

Actual gain on plan assets
40.4

 
80.2

 
2.9

 
5.8

Company contributions to the plan
43.9

 
58.0

 
2.1

 
3.8

Benefits paid
(22.3
)
 
(20.8
)
 
(1.8
)
 
(3.4
)
Fair value of plan assets at end of year
690.2

 
628.2

 
47.0

 
43.8

Underfunded status (current and long-term)
$
(143.8
)
 
$
(74.5
)
 
$
(43.8
)
 
$
(42.5
)
Estimated benefit plan payments for the next five years and the subsequent five years aggregated
Estimated benefit plan payments for the five years following 2014 and the subsequent five years aggregated are as follows:
 
Pension
 
Other Postretirement Benefits
 
Years Ending December 31,
 
(in millions)
2015
$
67.3

 
$
4.3

2016
52.6

 
4.5

2017
47.2

 
4.6

2018
63.0

 
4.8

2019
53.6

 
5.0

2020 through 2024
265.0

 
26.3

Net pension and other postretirement benefit cost components
The components of the net pension and other postretirement benefit costs are as follows. The net pension cost includes both the qualified and nonqualified pension plans.
 
Pension
 
Other Postretirement Benefits
 
Year Ended December 31,
 
Year Ended December 31,
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
(in millions)
Service cost
$
11.8

 
$
13.9

 
$
13.2

 
$
0.6

 
$
0.7

 
$
0.7

Interest cost
33.4

 
30.6

 
31.1

 
3.8

 
3.7

 
3.8

Expected return on plan assets
(43.6
)
 
(38.1
)
 
(31.8
)
 
(3.0
)
 
(2.6
)
 
(2.3
)
Prior service and other costs
0.6

 
1.1

 
1.1

 

 

 
1.6

Recognized net actuarial loss
15.4

 
28.9

 
24.9

 
0.7

 
3.0

 
2.5

Accretion of regulatory liability

 

 

 
0.8

 
0.5

 
0.3

Net periodic cost
$
17.6

 
$
36.4

 
$
38.5

 
$
2.9

 
$
5.3

 
$
6.6

Assumptions used to calculate net benefit costs
Assumptions at January 1, used to calculate the qualified net pension cost for the years, were as follows:
 
2014
 
2013
 
2012
Discount rate
4.90
%
 
4.20
%
 
4.80
%
Rate of increase in compensation
5.50

 
5.50

 
5.50

Long-term return on assets
7.25

 
7.25

 
7.25


Assumptions at January 1, used to calculate the nonqualified net pension cost for the years, were as follows:
 
2014
 
2013
 
2012
Discount rate
3.30
%
 
2.40
%
 
3.30
%
Rate of increase in compensation
5.50

 
5.50

 
5.50


Assumptions at January 1, used to calculate the net postretirement benefit cost for the years, were as follows:
 
2014
 
2013
 
2012
Discount rate
4.70
%
 
4.00
%
 
4.40
%
Long-term return on assets
7.25
 
 
7.25
 
 
7.25
 
Health-care inflation rate
8.00
 
 
8.50
 
 
7.00
 
 
decreasing to 
 
 
decreasing to 
 
 
decreasing to 
 
 
4.50
%
by
2021

 
4.50
%
by
2021

 
5.00
%
by
2014

Subsidiary net cost and contribution information
Pension and other postretirement benefit net cost and plan contribution information for Questar Gas and Questar Pipeline are shown below:
 
Pension
 
Other Postretirement Benefits
 
Year Ended December 31,
 
Year Ended December 31,
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
(in millions)
Questar Gas
 
 
 
 
 
 
 
 
 
 
 
Net periodic cost
$
8.5

 
$
18.1

 
$
19.7

 
$
0.8

 
$
2.4

 
$
3.3

Share of total plan contributions
21.8

 
29.6

 
39.4

 
1.1

 
2.0

 
1.9

 
 
 
 
 
 
 
 
 
 
 
 
Questar Pipeline
 
 
 
 
 
 
 
 
 
 
 
Net periodic cost
$
3.2

 
$
6.7

 
$
7.4

 
$
(0.4
)
 
$
0.2

 
$
1.2

Share of total plan contributions
8.1

 
11.2

 
15.1

 
0.4

 
0.7

 
0.6