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Benefit Plans and Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2020
Benefit Plans and Other Postretirement Benefits [Abstract]  
Target Asset Allocations and Plan Assets Measured at Fair Value , PSCo’s pension plan assets measured at fair value:
Dec. 31, 2020 (a)
Dec. 31, 2019 (a)
(Millions of Dollars)Level 1Level 2Level 3Measured at NAVTotalLevel 1Level 2Level 3Measured at NAVTotal
Cash equivalents$75 $— $— $— $75 $46 $— $— $— $46 
Commingled funds518 — — 388 906 497 — — 355 852 
Debt securities— 270 1 — 271 — 241 2 — 243 
Equity securities27 — — — 27 30 — — — 30 
Other2 2 — — 4 (41)1 — (7)(47)
Total$622 $272 $1 $388 $1,283 $532 $242 $2 $348 $1,124 
(a)See Note 8 for further information on fair value measurement inputs and methods.
Dec. 31, 2020 (a)
Dec. 31, 2019 (a)
(Millions of Dollars)Level 1Level 2Level 3Measured at NAVTotalLevel 1Level 2Level 3Measured at NAVTotal
Cash equivalents$24 $— $— $— $24 $20 $— $— $— $20 
Insurance contracts— 45 — — 45 — 45 — — 45 
Commingled funds64 — — 61 125 62 — — 68 130 
Debt securities— 207 — — 207 — 203 1 — 204 
Other— 3 — — 3 — 2 — — 2 
Total$88 $255 $— $61 $404 $82 $250 $1 $68 $401 
(a)See Note 8 for further information on fair value measurement inputs and methods
Pension BenefitsPostretirement Benefits
2020201920202019
Domestic and international equity securities35 %37 %15 %15 %
Long-duration fixed income securities35 30 — — 
Short-to-intermediate fixed income securities13 14 72 72 
Alternative investments15 17 9 9 
Cash2 2 4 4 
Total100 %100 %100 %100 %
Change in Projected Benefit Obligation
Pension BenefitsPostretirement Benefits
(Millions of Dollars)2020201920202019
Change in Benefit Obligation:
Obligation at Jan. 1$1,330 $1,229 $380 $377 
Service cost30 26 1 1 
Interest cost46 52 13 16 
Plan amendments— — — — 
Actuarial loss 102 108 52 12 
Plan participants’ contributions— — 6 7 
Medicare subsidy reimbursements— — 1 1 
Benefit payments(80)(85)(38)(34)
Obligation at Dec. 31$1,428 $1,330 $415 $380 
Change in Fair Value of Plan Assets:
Fair value of plan assets at Jan. 1$1,124 $966 $401 $372 
Actual return on plan assets189 197 32 52 
Employer contributions50 46 3 4 
Plan participants’ contributions— — 6 7 
Benefit payments(80)(85)(38)(34)
Fair value of plan assets at Dec. 31$1,283 $1,124 $404 $401 
Funded status of plans at Dec. 31$(145)$(206)$(11)$21 
Amounts recognized in the Consolidated Balance Sheet at Dec. 31:
Noncurrent liabilities(145)(206)(11)21 
Net amounts recognized$(145)$(206)$(11)$21 
Amounts Not Yet Recognized as Components of Net Periodic Benefit Costs Recorded on the Balance Sheet Based Upon Expected Recovery in Rates
Pension BenefitsPostretirement Benefits
(Millions of Dollars)2020201920202019
Amounts Not Yet Recognized as Components of Net Periodic Benefit Cost:
Net loss$432 $482 $81 $45 
Prior service credit(1)(4)(6)(10)
Total$431 $478 $75 $35 
Amounts Not Yet Recognized as Components of Net Periodic Benefit Cost Have Been Recorded as Follows Based Upon Expected Recovery in Rates:
Current regulatory assets$25 $22 $— $— 
Noncurrent regulatory assets404 452 75 35 
Deferred income taxes1 1 — — 
Net-of-tax accumulated other comprehensive income1 3 — — 
Total$431 $478 $75 $35 
Measurement dateDec. 31, 2020Dec. 31, 2019Dec. 31, 2020Dec. 31, 2019
Components of Net Periodic Benefit Costs
Net Periodic Benefit Cost (Credit) — Net periodic benefit cost (credit), other than the service cost component, is included in other (expense) income in the statements of income.
Components of net periodic benefit cost (credit) and amounts recognized in other comprehensive income and regulatory assets and liabilities:
Pension BenefitsPostretirement Benefits
(Millions of Dollars)202020192018202020192018
Service cost$30 $26 $29 $— $1 $1 
Interest cost46 52 47 13 15 15 
Expected return on plan assets(70)(69)(69)(17)(19)(23)
Amortization of prior service credit(3)(3)(3)(4)(5)(6)
Amortization of net loss30 25 31 1 3 4 
Settlement charge (a)
— 3 5 — — — 
Net periodic pension cost (credit)33 34 40 (7)(5)(9)
Effects of regulation4 4 (4)3 1 2 
Net benefit cost (credit) recognized for financial reporting$37 $38 $36 $(4)$(4)$(7)
Significant Assumptions Used to Measure Costs:
Discount rate3.49 %4.31 %3.63 %3.47 %4.32 %3.62 %
Expected average long-term increase in compensation level3.75 3.75 3.75 N/AN/AN/A
Expected average long-term rate of return on assets6.84 6.84 6.84 4.50 4.50 5.30 
(a)A settlement charge is required when the amount of all lump-sum distributions during the year is greater than the sum of the service and interest cost components of the annual net periodic pension cost. In 2019 and 2018, as a result of lump-sum distributions during each plan year, PSCo recorded a total pension settlement charge of $3 million and $5 million, respectively. An immaterial amount was recorded in the income statement in 2019 and 2018. There were no settlement charges recorded to the qualified pension plans in 2020.
Projected Benefit Payments for the Pension and Postretirement Benefit Plans
PSCo’s projected benefit payments:
(Millions of Dollars)Projected
Pension Benefit
Payments		Gross Projected
Postretirement
Health Care
Benefit Payments		Expected
Medicare Part D
Subsidies		Net Projected
Postretirement
Health Care
Benefit Payments
2021$83 $31 $2 $29 
202283 31 2 29 
202382 30 2 28 
202482 30 2 28 
202582 29 2 27 
2026-2030393 130 12 118