Benefit Plans

9 Months Ended

Sep. 30, 2019

Entity Information [Line Items]

Pension and Postretirement Benefits

Benefit Plans

DP&L sponsors a defined benefit pension plan for the majority of its employees.

We generally fund pension plan benefits as accrued in accordance with the minimum funding requirements of ERISA and, in addition, make voluntary contributions from time to time. There were $7.5 million in employer contributions during each of the nine months ended September 30, 2019 and 2018.

The amounts presented in the following tables for pension include the collective bargaining plan formula, the traditional management plan formula, the cash balance plan formula and the SERP, in the aggregate. The pension costs below have not been adjusted for amounts billed to the Service Company for former DP&L employees who are now employed by the Service Company that are still participants in the DP&L plan.

The net periodic benefit cost of the pension benefit plans for the three and nine months ended September 30, 2019 and 2018 was:

	Three months ended						Nine months ended
	September 30,						September 30,
$ in millions	2019			2018			2019			2018
Service cost	$	0.9		$	1.5		$	2.7		$	4.5
Interest cost	3.7			3.4			11.2			10.3
Expected return on plan assets	(5.0		)	(5.3		)	(15.0		)	(15.9		)
Amortization of unrecognized:
Prior service cost	0.3			0.3			0.9			0.8
Actuarial loss	1.1			1.6			3.2			4.8
Net periodic benefit cost	$	1.0		$	1.5		$	3.0		$	4.5

In addition, DP&L provides postretirement health care and life insurance benefits to certain retired employees, their spouses and eligible dependents. We have funded a portion of the union-eligible benefits using a Voluntary Employee Beneficiary Association Trust. These postretirement health care benefits and the related unfunded obligation of $9.0 million at September 30, 2019 and $9.2 million at December 31, 2018 were not material to the financial statements in the periods covered by this report.

THE DAYTON POWER AND LIGHT COMPANY [Member]

Entity Information [Line Items]

Pension and Postretirement Benefits

Benefit Plans

DP&L sponsors a defined benefit pension plan for the majority of its employees.

We generally fund pension plan benefits as accrued in accordance with the minimum funding requirements of ERISA and, in addition, make voluntary contributions from time to time. There were $7.5 million in employer contributions during each of the nine months ended September 30, 2019 and 2018.

The amounts presented in the following tables for pension include the collective bargaining plan formula, the traditional management plan formula, the cash balance plan formula and the SERP, in the aggregate. The pension costs below have not been adjusted for amounts billed to the Service Company for former DP&L employees who are now employed by the Service Company or for amounts billed to AES Ohio Generation for employees employed by AES Ohio Generation that are still participants in the DP&L plan.

The net periodic benefit cost of the pension benefit plans for the three and nine months ended September 30, 2019 and 2018 was:

	Three months ended						Nine months ended
	September 30,						September 30,
$ in millions	2019			2018			2019			2018
Service cost	$	0.9		$	1.5		$	2.7		$	4.5
Interest cost	3.7			3.4			11.2			10.3
Expected return on plan assets	(5.0		)	(5.3		)	(15.0		)	(15.9		)
Amortization of unrecognized:
Prior service cost	0.4			0.4			1.3			1.1
Actuarial loss	1.8			2.4			5.3			7.1
Net periodic benefit cost	$	1.8		$	2.4		$	5.5		$	7.1

In addition, DP&L provides postretirement health care and life insurance benefits to certain retired employees, their spouses and eligible dependents. We have funded a portion of the union-eligible benefits using a Voluntary Employee Beneficiary Association Trust. These postretirement health care benefits and the related unfunded obligation of $9.0 million at September 30, 2019 and $9.2 million at December 31, 2018 were not material to the financial statements in the periods covered by this report.