Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2013

Assets and Liabilities associated with Non Qualified Benefit Plans [Table Text Block]

Trust assets and plan liabilities related to the NQBP included in PGE’s consolidated balance sheets are as follows as of December 31 (in millions):



	2013						2012
	NQBP		Other NQBP		Total		NQBP		Other NQBP		Total
Non-qualified benefit plan trust	$	16	$	19	$	35	$	15	$	17	$	32
Non-qualified benefit plan liabilities *	22		79		101		25		77		102


*	For the NQBP, excludes the current portion of $2 million in 2013 and 2012, which is classified in Other current liabilities in the consolidated balance sheets.

Schedule of Allocation of Plan Assets [Table Text Block]

The asset allocations for the plans, and the target allocation, are as follows:



	As of December 31,
	2013				2012
	Actual		Target *		Actual		Target *
Defined Benefit Pension Plan:
Equity securities	67	%	67	%	68	%	67	%
Debt securities	33		33		32		33
Total	100	%	100	%	100	%	100	%
Other Postretirement Benefit Plans:
Equity securities	58	%	58	%	63	%	72	%
Debt securities	42		42		37		28
Total	100	%	100	%	100	%	100	%
Non-Qualified Benefits Plans:
Equity securities	24	%	16	%	17	%	17	%
Debt securities	1		9		6		10
Insurance contracts	75		75		77		73
Total	100	%	100	%	100	%	100	%

The target for the Defined Benefit Pension Plan represents the mid-point of the investment target range. Due to the nature of the investment vehicles in both the Other Postretirement Benefit Plans and the Non-Qualified Benefit Plans, these targets are the weighted average of the mid-point of the respective investment target ranges approved by the Investment Committee. Due to the method used to calculate the weighted average targets for the Other Postretirement Benefit Plans and Non-Qualified Benefit Plans, reported percentages are affected by the fair market values of the investments within the pools.

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The Company’s financial assets and liabilities whose values were recognized at fair value are as follows by level within the fair value hierarchy (in millions):



	As of December 31, 2013
	Level 1		Level 2		Level 3		Total
Assets:
Nuclear decommissioning trust ⁽¹⁾:
Money market funds	$	—	$	59	$	—	$	59
Debt securities:
Domestic government	6		8		—		14
Corporate credit	—		9		—		9
Non-qualified benefit plan trust ⁽²⁾:
Equity securities:
Domestic	4		3		—		7
International	1		—		—		1
Debt securities - domestic government	1		—		—		1
Assets from price risk management activities ^{(1) (3)}:
Electricity	—		9		1		10
Natural gas	—		4		—		4
	$	12	$	92	$	1	$	105
Liabilities - Liabilities from price risk management activities ^{(1) (3)}:
Electricity	$	—	$	10	$	117	$	127
Natural gas	—		40		23		63
	$	—	$	50	$	140	$	190


(1)	Activities are subject to regulation, with certain gains and losses deferred pursuant to regulatory accounting and included in regulatory assets or regulatory liabilities as appropriate.


(2)	Excludes insurance policies of $26 million, which are recorded at cash surrender value.


(3)	For further information, see Note 5, Price Risk Management.



	As of December 31, 2012
	Level 1		Level 2		Level 3		Total
Assets:
Nuclear decommissioning trust ⁽¹⁾:
Money market funds	$	—	$	15	$	—	$	15
Debt securities:
Domestic government	7		8		—		15
Corporate credit	—		8		—		8
Non-qualified benefit plan trust ⁽²⁾:
Money market funds	—		2		—		2
Equity securities:
Domestic	2		2		—		4
International	1		—		—		1
Debt securities - domestic government	2		—		—		2
Assets from price risk management activities ^{(1) (3)}:
Electricity	—		1		—		1
Natural gas	—		3		2		5
	$	12	$	39	$	2	$	53
Liabilities - Liabilities from price risk management activities ^{(1) (3)}:
Electricity	$	—	$	72	$	10	$	82
Natural gas	—		110		8		118
	$	—	$	182	$	18	$	200


(1)	Activities are subject to regulation, with certain gains and losses deferred pursuant to regulatory accounting and included in regulatory assets or regulatory liabilities as appropriate.


(2)	Excludes insurance policies of $23 million, which are recorded at cash surrender value.


(3)	For further information, see Note 5, Price Risk Management.

The fair values of the Company’s pension plan assets and other postretirement benefit plan assets by asset category are as follows (in millions):



	Level 1		Level 2		Level 3		Total
As of December 31, 2013:
Defined Benefit Pension Plan assets:
Equity securities:
Domestic	$	166	$	19	$	—	$	185
International	185		—		—		185
Debt securities:
Domestic government and corporate credit	—		181		—		181
Corporate credit	14		—		—		14
Private equity funds	—		—		31		31
	$	365	$	200	$	31	$	596
Other Postretirement Benefit Plans assets:
Money market funds	$	—	$	10	$	—	$	10
Equity securities:
Domestic	8		2		—		10
International	9		—		—		9
Debt securities—Domestic government	3		—		—		3
	$	20	$	12	$	—	$	32
As of December 31, 2012:
Defined Benefit Pension Plan assets:
Money market funds	$	—	$	1	$	—	$	1
Equity securities:
Domestic	150		15		—		165
International	166		—		—		166
Debt securities:
Domestic government and corporate credit	—		165		—		165
Corporate credit	8		—		—		8
Private equity funds	—		—		32		32
	$	324	$	181	$	32	$	537
Other Postretirement Benefit Plans assets:
Money market funds	$	—	$	8	$	—	$	8
Equity securities:
Domestic	8		1		—		9
International	8		—		—		8
Debt securities—Domestic government	3		—		—		3
	$	19	$	9	$	—	$	28

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

Changes in the fair value of assets held by the pension plan classified as Level 3 in the fair value hierarchy were as follows (in millions):



	Years Ended December 31,
	2013			2012
	Private equity funds			Private equity funds			Alternative investments			Total
Level 3 balance as of beginning of year	$	32		$	32		$	30		$	62
Unrealized gains (losses), net	4			2			(6		)	(4		)
Realized gains (losses), net	(2		)	(1		)	6			5
Sales, net	(3		)	(1		)	(30		)	(31		)
Level 3 balance as of end of year	$	31		$	32		$	—		$	32

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

The following tables provide certain information with respect to the Company’s defined benefit pension plan, other postretirement benefits, and non-qualified benefit plans as of and for the years ended December 31, 2013 and 2012. Information related to the Other NQBP is not included in the following tables (dollars in millions):



	Defined Benefit Pension Plan						Other Postretirement Benefits						Non-Qualified Benefit Plans
	2013			2012			2013			2012			2013			2012
Benefit obligation:
As of January 1	$	728		$	634		$	84		$	75		$	27		$	27
Service cost	17			14			2			2			—			—
Interest cost	30			31			3			3			1			1
Participants’ contributions	—			—			2			2			—			—
Actuarial (gain) loss	(38		)	77			(9		)	7			(2		)	1
Contractual termination benefits	—			—			1			1			—			—
Benefit payments	(32		)	(28		)	(6		)	(6		)	(2		)	(2		)
As of December 31	$	705		$	728		$	77		$	84		$	24		$	27
Fair value of plan assets:
As of January 1	$	537		$	487		$	28		$	27		$	15		$	17
Actual return on plan assets	91			78			5			3			3			—
Company contributions	—			—			3			2			—			—
Participants’ contributions	—			—			2			2			—			—
Benefit payments	(32		)	(28		)	(6		)	(6		)	(2		)	(2		)
As of December 31	$	596		$	537		$	32		$	28		$	16		$	15
Unfunded position as of December 31	$	(109	)	$	(191	)	$	(45	)	$	(56	)	$	(8	)	$	(12	)
Accumulated benefit plan obligation as of December 31	$	631		$	640		N/A			N/A			$	24		$	27
Classification in consolidated balance sheet:
Noncurrent asset	$	—		$	—		$	—		$	—		$	16		$	15
Current liability	—			—			—			—			(2		)	(2		)
Noncurrent liability	(109		)	(191		)	(45		)	(56		)	(22		)	(25		)
Net liability	$	(109	)	$	(191	)	$	(45	)	$	(56	)	$	(8	)	$	(12	)
Amounts included in comprehensive income:
Net actuarial (gain) loss	$	(89	)	$	40		$	(11	)	$	5		$	(1	)	$	2
Amortization of net actuarial loss	(24		)	(17		)	(1		)	(1		)	(1		)	(1		)
Amortization of prior service cost	—			—			(1		)	(1		)	—			—
	$	(113	)	$	23		$	(13	)	$	3		$	(2	)	$	1
Amounts included in AOCL*:
Net actuarial loss	$	186		$	298		$	6		$	18		$	9		$	11
Prior service cost	—			1			2			4			—			—
	$	186		$	299		$	8		$	22		$	9		$	11



	Defined Benefit Pension Plan				Other Postretirement Benefits						Non-Qualified Benefit Plans
	2013		2012		2013			2012			2013		2012
Assumptions used:
Discount rate for benefit obligation	4.84	%	4.24	%	3.46	%	-	2.77	%	-	4.84	%	4.24	%
					4.96	%		4.13	%
Discount rate for benefit cost	4.24	%	5.00	%	2.77	%	-	3.76	%	-	4.24	%	5.00	%
					4.13	%		4.90	%
Weighted average rate of compensation increase for benefit obligation	3.65	%	3.65	%	4.58	%		4.58	%		N/A		N/A
Weighted average rate of compensation increase for benefit cost	3.65	%	3.71	%	4.58	%		4.58	%		N/A		N/A
Long-term rate of return on plan assets for benefit obligation	7.50	%	8.25	%	6.46	%		6.50	%		N/A		N/A
Long-term rate of return on plan assets for benefit cost	8.25	%	8.25	%	5.89	%		7.09	%		N/A		N/A


*	Amounts included in AOCL related to the Company’s defined benefit pension plan and other postretirement benefits are transferred to Regulatory assets due to the future recoverability from retail customers. Accordingly, as of the balance sheet date, such amounts are included in Regulatory assets.

Schedule of Net Benefit Costs [Table Text Block]

Net periodic benefit cost consists of the following for the years ended December 31 (in millions):



	Defined Benefit Pension Plan									Other Postretirement Benefits									Non-Qualified Benefit Plans
	2013			2012			2011			2013			2012			2011			2013		2012		2011
Service cost	$	17		$	14		$	12		$	2		$	2		$	2		$	—	$	—	$	—
Interest cost on benefit obligation	30			31			29			3			3			4			1		1		1
Expected return on plan assets	(40		)	(41		)	(42		)	(1		)	(1		)	(1		)	—		—		—
Amortization of prior service cost	—			—			1			1			1			1			—		—		—
Amortization of net actuarial loss	24			17			8			1			1			1			1		1		1
Net periodic benefit cost	$	31		$	21		$	8		$	6		$	6		$	7		$	2	$	2	$	2

Schedule of Expected Benefit Payments [Table Text Block]

The following table summarizes the benefits expected to be paid to participants in each of the next five years and in the aggregate for the five years thereafter (in millions):



	Payments Due
	2014		2015		2016		2017		2018		2019 - 2023
Defined benefit pension plan	$	34	$	36	$	37	$	39	$	40	$	219
Other postretirement benefits	5		5		5		5		5		26
Non-qualified benefit plans	2		2		2		2		2		10
Total	$	41	$	43	$	44	$	46	$	47	$	255

- Definition

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

+ References+ Details