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EMPLOYEE BENEFIT PLANS
9 Months Ended
Sep. 30, 2014
Pension and Other Postretirement Benefit Plans  
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS
 
Pension and Other Postretirement Benefit Plans
 
Components of net periodic benefit cost recorded by the Company were as follows: 
 
 
Pension Benefits
 
Other Postretirement Benefits
Millions of dollars
 
2014
 
2013
 
2014
 
2013
Three months ended September 30,
 
 

 
 

 
 

 
 

Service cost
 
$
5.0

 
$
5.1

 
$
0.9

 
$
1.2

Interest cost
 
9.9

 
9.5

 
2.8

 
2.8

Expected return on assets
 
(16.4
)
 
(15.1
)
 

 

Prior service cost amortization
 
1.1

 
1.5

 
0.1

 
0.1

Charge due to curtailment
 

 
9.9

 

 

Amortization of actuarial losses
 
0.9

 
3.5

 
(0.2
)
 
0.8

Net periodic benefit cost
 
$
0.5

 
$
14.4

 
$
3.6

 
$
4.9



 
 
Pension Benefits
 
Other Postretirement Benefits
Millions of dollars
 
2014
 
2013
 
2014
 
2013
Nine months ended September 30,
 
 
 
 
 
 
 
 
Service cost
 
$
15.0

 
$
16.9

 
$
3.4

 
$
4.4

Interest cost
 
30.3

 
28.4

 
9.0

 
8.3

Expected return on assets
 
(50.0
)
 
(45.8
)
 

 

Prior service cost amortization
 
3.1

 
4.9

 
0.3

 
0.5

Charge due to curtailment
 

 
9.9

 

 

Transition obligation amortization
 

 

 

 
0.3

Amortization of actuarial losses
 
3.5

 
14.4

 

 
2.5

Net periodic benefit cost
 
$
1.9

 
$
28.7

 
$
12.7

 
$
16.0



No significant contribution to the pension trust is expected for the foreseeable future, nor is a limitation on benefit payments expected to apply. SCE&G recovers current pension costs through either a rate rider that may be adjusted annually for retail electric operations or through cost of service rates for gas operations. Certain pension costs arising prior to 2013 were deferred for future recovery under regulatory orders as discussed in Note 2.
SCEG
 
Pension and Other Postretirement Benefit Plans  
EMPLOYEE BENEFIT PLANS
 
Pension and Other Postretirement Benefit Plans
 
Consolidated SCE&G participates in SCANA’s noncontributory defined benefit pension plan, which covers the majority of all regular, full-time employees, and also participates in SCANA’s unfunded postretirement health care and life insurance programs, which provide benefits to active and retired employees.  Components of net periodic benefit cost recorded by Consolidated SCE&G were as follows:
 
 
Pension Benefits
 
Other Postretirement Benefits
Millions of dollars
 
2014
 
2013
 
2014
 
2013
Three months ended September 30,
 
 

 
 

 
 

 
 

Service cost
 
$
4.0

 
$
4.1

 
$
0.7

 
$
1.0

Interest cost
 
8.4

 
8.0

 
2.3

 
2.1

Expected return on assets
 
(13.9
)
 
(12.7
)
 

 

Prior service cost amortization
 
0.9

 
1.3

 

 
0.1

Charge due to curtailment
 

 
8.4

 

 

Amortization of actuarial losses
 
0.8

 
3.0

 
(0.2
)
 
0.7

Net periodic benefit cost
 
$
0.2

 
$
12.1

 
$
2.8

 
$
3.9


Nine months ended September 30,
 
 
 
 
 
 
 
 
Service cost
 
$
12.0

 
$
13.7

 
$
2.7

 
$
3.5

Interest cost
 
25.6

 
24.0

 
7.1

 
6.5

Expected return on assets
 
(42.2
)
 
(38.7
)
 

 

Prior service cost amortization
 
2.6

 
4.1

 
0.2

 
0.4

Charge due to curtailment
 

 
8.4

 

 

Amortization of actuarial losses
 
3.0

 
12.2

 

 
2.0

Net periodic benefit cost
 
$
1.0

 
$
23.7

 
$
10.0

 
$
12.4


No significant contribution to the pension trust is expected for the foreseeable future, nor is a limitation on benefit payments expected to apply. SCE&G recovers current pension costs through either a rate rider that may be adjusted annually for retail electric operations or through cost of service rates for gas operations. Certain pension costs arising prior to 2013 were deferred for future recovery under regulatory orders as discussed in Note 2.