XML 56 R32.htm IDEA: XBRL DOCUMENT v2.4.1.9
EMPLOYEE BENEFIT PLANS (Tables)
12 Months Ended
Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Changes in Projected Benefit Obligations [Table Text Block]
The measurement date used to determine pension and other postretirement benefit obligations is December 31. Data related to the changes in the projected benefit obligation for pension benefits and the accumulated benefit obligation for other postretirement benefits are presented below.
 
 
Pension Benefits
 
Other Postretirement Benefits
Millions of dollars
 
2014
 
2013
 
2014
 
2013
Benefit obligation, January 1
 
$
823.0

 
$
931.6

 
$
238.0

 
$
265.3

Service cost
 
20.0

 
21.8

 
4.6

 
5.9

Interest cost
 
40.4

 
38.5

 
12.0

 
11.1

Plan participants’ contributions
 

 

 
2.2

 
2.6

Actuarial (gain) loss
 
100.1

 
(83.4
)
 
23.5

 
(35.1
)
Benefits paid
 
(64.0
)
 
(60.0
)
 
(12.1
)
 
(11.8
)
Curtailment
 

 
(25.5
)
 

 

Benefit obligation, December 31
 
$
919.5

 
$
823.0

 
$
268.2

 
$
238.0

Schedule of Assumptions Used to Determine Benefit Obligations [Table Text Block]
Significant assumptions used to determine the above benefit obligations are as follows:
 
Pension Benefits
 
Other Postretirement Benefits
 
2014
 
2013
 
2014
 
2013
Annual discount rate used to determine benefit obligation
4.20
%
 
5.03
%
 
4.30
%
 
5.19
%
Assumed annual rate of future salary increases for projected benefit obligation
3.00
%
 
3.00
%
 
3.00
%
 
3.75
%
Schedule of Net Funded Status [Table Text Block]
Millions of Dollars
 
Pension Benefits
 
Other Postretirement Benefits
December 31,
 
2014
 
2013
 
2014
 
2013
Fair value of plan assets
 
$
861.8

 
$
870.0

 

 

Benefit obligation
 
919.5

 
823.0

 
$
268.2

 
$
238.0

Funded status
 
$
(57.7
)
 
$
47.0

 
$
(268.2
)
 
$
(238.0
)
Schedule of Amounts Recognized in Balance Sheet [Table Text Block]
Amounts recognized on the consolidated balance sheets were as follows:
Millions of Dollars
 
Pension Benefits
 
Other Postretirement Benefits
December 31,
 
2014
 
2013
 
2014
 
2013
Current liability
 

 

 
$
(11.2
)
 
$
(11.5
)
Noncurrent asset
 

 
$
47.0

 

 

Noncurrent liability
 
$
(57.7
)
 

 
(257.0
)
 
(226.5
)
Schedule of Defined Benefit Plan, Amounts Recognized in Accumulated Other Comprehensive Income (Loss) [Table Text Block]
Amounts recognized in accumulated other comprehensive loss (a component of common equity) as of December 31, 2014 and 2013 were as follows:
Millions of Dollars
 
Pension Benefits
 
Other Postretirement Benefits
December 31,
 
2014
 
2013
 
2014
 
2013
Net actuarial loss
 
$
8.1

 
$
5.2

 
$
3.0

 
$
1.7

Prior service cost
 
0.3

 
0.5

 
0.1

 
0.1

Total
 
$
8.4

 
$
5.7

 
$
3.1

 
$
1.8

Schedule of defined benefit plan, amounts recognized in regulatory assets [Table Text Block]
Amounts recognized in regulatory assets as of December 31, 2014 and 2013 were as follows:
Millions of Dollars
 
Pension Benefits
 
Other Postretirement Benefits
December 31,
 
2014
 
2013
 
2014
 
2013
Net actuarial loss
 
$
222.1

 
$
124.8

 
$
43.8

 
$
24.4

Prior service cost
 
9.6

 
12.8

 
0.6

 
0.9

Total
 
$
231.7

 
$
137.6

 
$
44.4

 
$
25.3

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]
 
 
Pension Benefits
Millions of dollars
 
2014
 
2013
Fair value of plan assets, January 1
 
$
870.0

 
$
799.1

Actual return on plan assets
 
55.8

 
130.9

Benefits paid
 
(64.0
)
 
(60.0
)
Fair value of plan assets, December 31
 
$
861.8

 
$
870.0

Schedule of Allocation of Plan Assets [Table Text Block]
The Company’s pension plan asset allocation at December 31, 2014 and 2013 and the target allocation for 2015 are as follows: 
 
 
Percentage of Plan Assets
 
 
Target
Allocation
 
At
December 31,
Asset Category
 
2015
 
2014
 
2013
Equity Securities
 
58
%
 
57
%
 
59
%
Fixed Income
 
33
%
 
34
%
 
32
%
Hedge Funds
 
9
%
 
9
%
 
9
%
Schedule of Fair Value of Plan, Assets by Measurement Levels [Table Text Block]
Assets held by the pension plan are measured at fair value as described below. Assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. At December 31, 2014 and 2013, fair value measurements, and the level within the fair value hierarchy in which the measurements fall, were as follows:
 
 
Fair Value Measurements at Reporting Date Using
Millions of dollars
 
Total
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
 
 
December 31, 2014
 
December 31, 2013
Common stock
 

 

 

 
$
332

 
$
332

 

 

Preferred stock
 

 

 

 
1

 
1

 

 

Mutual funds
 
$
622

 
$
622

 

 
305

 
20

 
$
285

 

Short-term investment vehicles
 
20

 
20

 

 
19

 

 
19

 

US Treasury securities
 
6

 
6

 

 
33

 

 
33

 

Corporate debt securities
 
86

 
86

 

 
53

 

 
53

 

Loans secured by mortgages
 

 

 

 
12

 

 
12

 

Municipals
 
15

 
15

 

 
4

 

 
4

 

Limited partnerships
 
32

 
32

 

 
35

 
1

 
34

 

Multi‑strategy hedge funds
 
81

 

 
$
81

 
76

 

 

 
$
76

 
 
$
862

 
$
781

 
$
81

 
$
870

 
$
354

 
$
440

 
$
76


Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]
 
 
Fair Value Measurements
Level 3
Millions of dollars
 
2014
 
2013
Beginning Balance
 
$
76

 
$
70

Unrealized gains included in changes in net assets
 
5

 
6

Purchases, issuances, and settlements
 

 

Ending Balance
 
$
81


$
76

Schedule of Expected Benefit Payments [Table Text Block]
Millions of dollars
 
Pension Benefits
 
Other Postretirement Benefits
2015
 
$
63.4

 
$
11.5

2016
 
64.5

 
12.4

2017
 
65.6

 
13.1

2018
 
66.1

 
13.8

2019
 
65.1

 
14.6

2020-2024
 
338.4

 
81.8

Schedule of Net Benefit Costs [Table Text Block]
 
 
Pension Benefits
 
Other Postretirement Benefits
Millions of dollars
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Service cost
 
$
20.0

 
$
21.8

 
$
19.6

 
$
4.6

 
$
5.9

 
$
4.8

Interest cost
 
40.4

 
38.5

 
43.0

 
12.0

 
11.1

 
11.9

Expected return on assets
 
(66.7
)
 
(61.4
)
 
(59.5
)
 
n/a

 
n/a

 
n/a

Prior service cost amortization
 
4.1

 
6.0

 
7.0

 
0.3

 
0.7

 
0.9

Amortization of actuarial losses
 
4.8

 
16.9

 
18.4

 

 
3.3

 
1.4

Transition obligation amortization
 

 

 

 

 
0.3

 
0.7

Curtailment
 

 
9.9

 

 

 

 

Net periodic benefit cost
 
$
2.6

 
$
31.7

 
$
28.5

 
$
16.9

 
$
21.3

 
$
19.7

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]
Other changes in plan assets and benefit obligations recognized in other comprehensive income (net of tax) were as follows:
 
 
Pension Benefits
 
Other Postretirement Benefits
Millions of dollars
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Current year actuarial (gain) loss
 
$
3.1

 
$
(5.0
)
 
$
1.7

 
$
1.3

 
$
(1.8
)
 
$
2.0

Amortization of actuarial losses
 
(0.2
)
 
(0.5
)
 
(0.6
)
 

 
(0.2
)
 

Amortization of prior service cost
 
(0.2
)
 
(0.2
)
 
(0.2
)
 

 

 

Prior service cost (credit)
 

 
(0.3
)
 

 

 

 

Amortization of transition obligation
 

 

 

 

 
(0.1
)
 
(0.1
)
Total recognized in OCI
 
$
2.7

 
$
(6.0
)
 
$
0.9

 
$
1.3

 
$
(2.1
)
 
$
1.9

Schedule of defined benefit plan, Other changes in plan assets recognized in regulatory assets [Table Text Block]
Other changes in plan assets and benefit obligations recognized in regulatory assets were as follows:
 
 
Pension Benefits
 
Other Postretirement Benefits
Millions of dollars
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Current year actuarial (gain) loss
 
$
101.3

 
$
(157.5
)
 
$
45.0

 
$
19.4

 
$
(29.9
)
 
$
31.4

Amortization of actuarial losses
 
(4.0
)
 
(14.7
)
 
(16.0
)
 

 
(2.7
)
 
(1.2
)
Amortization of prior service cost
 
(3.2
)
 
(5.2
)
 
(6.4
)
 
(0.3
)
 
(0.6
)
 
(0.8
)
Prior service cost (credit)
 

 
(8.9
)
 

 

 

 

Amortization of transition obligation
 

 

 

 

 
(0.2
)
 
(0.5
)
Total recognized in regulatory assets
 
$
94.1

 
$
(186.3
)
 
$
22.6

 
$
19.1

 
$
(33.4
)
 
$
28.9

Schedule of Assumptions Used in Determining Net Periodic Benefit Cost [Table Text Block]
 
Pension Benefits
 
Other Postretirement Benefits
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount rate
5.03
%
 
4.10%/5.07%

 
5.25
%
 
5.19
%
 
4.19
%
 
5.35
%
Expected return on plan assets
8.00
%
 
8.00
%
 
8.25
%
 
n/a

 
n/a

 
n/a

Rate of compensation increase
3.00
%
 
3.75%/3.00%

 
4.00
%
 
3.75
%
 
3.75
%
 
4.00
%
Health care cost trend rate
n/a

 
n/a

 
n/a

 
7.40
%
 
7.80
%
 
8.20
%
Ultimate health care cost trend rate
n/a

 
n/a

 
n/a

 
5.00
%
 
5.00
%
 
5.00
%
Year achieved
n/a

 
n/a

 
n/a

 
2020

 
2020

 
2020

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]
The estimated amounts to be amortized from accumulated other comprehensive loss into net periodic benefit cost in 2015 are as follows:
Millions of Dollars
 
Pension Benefits
 
Other Postretirement Benefits
Actuarial loss
 
$
0.5

 
$
0.1

Prior service cost
 
0.1

 

Total
 
$
0.6

 
$
0.1

Schedule of amounts in regulatory assets to be recognized over the next fiscal year [Table Text Block]
The estimated amounts to be amortized from regulatory assets into net periodic benefit cost in 2015 are as follows:
Millions of Dollars
 
Pension Benefits
 
Other Postretirement Benefits
Actuarial loss
 
$
12.3

 
$
1.9

Prior service cost
 
3.6

 
0.3

Total
 
$
15.9

 
$
2.2

SCE&G  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Changes in Projected Benefit Obligations [Table Text Block]
 
 
Pension Benefits
 
Other Postretirement Benefits
Millions of dollars
 
2014
 
2013
 
2014
 
2013
Benefit obligation, January 1
 
$
695.7

 
$
788.4

 
$
181.7

 
$
206.0

Service cost
 
16.0

 
17.6

 
3.6

 
4.6

Interest cost
 
34.1

 
32.6

 
9.4

 
8.7

Plan participants’ contributions
 

 

 
1.8

 
2.0

Actuarial (gain) loss
 
82.7

 
(70.7
)
 
18.6

 
(27.3
)
Benefits paid
 
(54.8
)
 
(50.6
)
 
(9.6
)
 
(9.3
)
Curtailment
 

 
(21.6
)
 

 

Amounts funded to parent
 

 

 
(1.4
)
 
(3.0
)
Benefit obligation, December 31
 
$
773.7

 
$
695.7

 
$
204.1

 
$
181.7

Schedule of Assumptions Used to Determine Benefit Obligations [Table Text Block]
Significant assumptions used to determine the above benefit obligations are as follows: 
 
 
Pension Benefits
 
Other Postretirement Benefits
 
 
2014
 
2013
 
2014
 
2013
Annual discount rate used to determine benefit obligation
 
4.20
%
 
5.03
%
 
4.30
%
 
5.19
%
Assumed annual rate of future salary increases for projected benefit obligation
 
3.00
%
 
3.00
%
 
3.00
%
 
3.75
%
Schedule of Net Funded Status [Table Text Block]
Funded Status
Millions of Dollars
 
Pension Benefits
 
Other Postretirement Benefits
December 31,
 
2014
 
2013
 
2014
 
2013
Fair value of plan assets
 
$
783.6

 
$
792.1

 

 

Benefit obligation
 
773.7

 
695.7

 
$
204.1

 
$
181.7

Funded status
 
$
9.9

 
$
96.4

 
$
(204.1
)
 
$
(181.7
)
Schedule of Amounts Recognized in Balance Sheet [Table Text Block]
Amounts recognized on the consolidated balance sheets were as follows:
Millions of Dollars
 
Pension Benefits
 
Other Postretirement Benefits
December 31,
 
2014
 
2013
 
2014
 
2013
Current liability
 

 

 
$
(8.5
)
 
$
(7.8
)
Noncurrent asset
 
$
9.9

 
$
96.4

 

 

Noncurrent liability
 

 

 
(195.6
)
 
(173.9
)
Schedule of Defined Benefit Plan, Amounts Recognized in Accumulated Other Comprehensive Income (Loss) [Table Text Block]
Amounts recognized in accumulated other comprehensive loss (a component of common equity) as of December 31, 2014 and 2013 were as follows:
Millions of Dollars
 
Pension Benefits
 
Other Postretirement Benefits
December 31,
 
2014
 
2013
 
2014
 
2013
Net actuarial loss
 
$
1.9

 
$
1.8

 
$
1.0

 
$
0.6

Prior service cost
 
0.1

 
0.2

 

 

Total
 
$
2.0

 
$
2.0

 
$
1.0

 
$
0.6

Schedule of defined benefit plan, amounts recognized in regulatory assets [Table Text Block]
Amounts recognized in regulatory assets as of December 31, 2014 and 2013 were as follows:
Millions of Dollars
 
Pension Benefits
 
Other Postretirement Benefits
December 31,
 
2014
 
2013
 
2014
 
2013
Net actuarial loss
 
$
191.9

 
$
107.7

 
$
35.9

 
$
20.1

Prior service cost
 
8.3

 
11.1

 
0.5

 
0.7

Total
 
$
200.2

 
$
118.8

 
$
36.4

 
$
20.8

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]
Changes in Fair Value of Plan Assets
 
 
Pension Benefits
Millions of dollars
 
2014
 
2013
Fair value of plan assets, January 1
 
$
792.1

 
$
732.0

Actual return on plan assets
 
46.3

 
110.7

Benefits paid
 
(54.8
)
 
(50.6
)
Fair value of plan assets, December 31
 
$
783.6

 
$
792.1

Schedule of Allocation of Plan Assets [Table Text Block]
The pension plan asset allocation at December 31, 2014 and 2013 and the target allocation for 2015 are as follows:
 
 
 
Percentage of Plan Assets
 
 
Target
Allocation
 
At
December 31,
Asset Category
 
2015
 
2014
 
2013
Equity Securities
 
58
%
 
57
%
 
59
%
Fixed Income
 
33
%
 
34
%
 
32
%
Hedge Funds
 
9
%
 
9
%
 
9
%
Schedule of Fair Value of Plan, Assets by Measurement Levels [Table Text Block]
Assets held by the pension plan are measured at fair value as described below. Assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. At December 31, 2014 and 2013, fair value measurements, and the level within the fair value hierarchy in which the measurements fall, were as follows:
 
 
Fair Value Measurements at Reporting Date Using
Millions of dollars
 
Total
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
 
 
December 31, 2014
 
December 31, 2013
Common stock
 

 

 

 
$
302

 
$
302

 

 

Preferred stock
 

 

 

 
1

 
1

 

 

Mutual funds
 
$
566

 
$
566

 

 
278

 
18

 
$
260

 

Short-term investment vehicles
 
18

 
18

 

 
18

 

 
18

 

US Treasury securities
 
6

 
6

 

 
30

 

 
30

 

Corporate debt securities
 
78

 
78

 

 
48

 

 
48

 

Loans secured by mortgages
 

 

 

 
11

 

 
11

 

Municipals
 
14

 
14

 

 
3

 

 
3

 

Limited partnerships
 
29

 
29

 

 
32

 
1

 
31

 

Multi-strategy hedge funds
 
73

 

 
$
73

 
69

 

 

 
$
69

 
 
$
784

 
$
711

 
$
73

 
$
792

 
$
322

 
$
401

 
$
69

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]
 
 
Fair Value Measurements
Level 3
Millions of dollars
 
2014
 
2013
Beginning Balance
 
$
69

 
$
64

Unrealized gains included in changes in net assets
 
4

 
5

Purchases, issuances, and settlements
 

 

Ending Balance
 
$
73

 
$
69

Schedule of Expected Benefit Payments [Table Text Block]
The total benefits expected to be paid from the pension plan or from SCE&G’s assets for the other postretirement benefits plan (net of participant contributions), respectively, are as follows:

Expected Benefit Payments
Millions of dollars
 
Pension Benefits
 
Other Postretirement Benefits
2015
 
$
63.4

 
$
9.1

2016
 
64.5

 
9.8

2017
 
65.6

 
10.4

2018
 
66.1

 
10.9

2019
 
65.1

 
11.5

2020 - 2024
 
338.4

 
64.6

Schedule of Net Benefit Costs [Table Text Block]
Components of Net Periodic Benefit Cost
 
 
Pension Benefits
 
Other Postretirement Benefits
Millions of dollars
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Service cost
 
$
16.0

 
$
17.6

 
$
15.7

 
$
3.6

 
$
4.6

 
$
3.7

Interest cost
 
34.1

 
32.6

 
36.4

 
9.4

 
8.7

 
9.4

Expected return on assets
 
(56.3
)
 
(51.9
)
 
(50.4
)
 
n/a

 
n/a

 
n/a

Prior service cost amortization
 
3.5

 
5.0

 
6.0

 
0.3

 
0.6

 
0.7

Amortization of actuarial losses
 
4.0

 
14.3

 
15.6

 

 
2.6

 
1.1

Curtailment
 

 
8.4

 

 

 

 

Net periodic benefit cost
 
$
1.3

 
$
26.0

 
$
23.3

 
$
13.3

 
$
16.5

 
$
14.9

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]
Other changes in plan assets and benefit obligations recognized in other comprehensive income (net of tax) were as follows:
 
 
Pension Benefits
 
Other Postretirement
Benefits
Millions of dollars
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Current year actuarial (gain) loss
 
$
0.2

 
$
(0.8
)
 
$
0.4

 
$
0.4

 
$
(0.4
)
 
$
0.7

Amortization of actuarial losses
 
(0.1
)
 
(0.1
)
 
(0.1
)
 

 
(0.1
)
 

Amortization of prior service cost
 
(0.1
)
 

 
(0.1
)
 

 

 
(0.1
)
Total recognized in OCI
 
$

 
$
(0.9
)

$
0.2

 
$
0.4

 
$
(0.5
)

$
0.6

Schedule of defined benefit plan, Other changes in plan assets recognized in regulatory assets [Table Text Block]
Other changes in plan assets and benefit obligations recognized in regulatory assets were as follows:
 
 
Pension Benefits
 
Other Postretirement
Benefits
Millions of dollars
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Current year actuarial (gain) loss
 
$
87.7

 
$
(137.1
)
 
$
37.9

 
$
15.8

 
$
(24.4
)
 
$
25.7

Amortization of actuarial losses
 
(3.5
)
 
(12.7
)
 
(14.0
)
 

 
(2.2
)
 
(1.0
)
Amortization of prior service cost
 
(2.8
)
 
(4.5
)
 
(5.7
)
 
(0.2
)
 
(0.5
)
 
(0.7
)
Prior service cost (credit)
 

 
(7.7
)
 

 

 

 

Amortization of transition obligation
 

 

 

 

 
(0.1
)
 
(0.2
)
Total recognized in regulatory assets
 
$
81.4

 
$
(162.0
)

$
18.2

 
$
15.6

 
$
(27.2
)
 
$
23.8

Schedule of Assumptions Used in Determining Net Periodic Benefit Cost [Table Text Block]
Significant Assumptions Used in Determining Net Periodic Benefit Cost
 
 
Pension Benefits
 
Other Postretirement
Benefits
 
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount rate
 
5.03
%
 
4.10%/5.07%

 
5.25
%
 
5.19
%
 
4.19
%
 
5.35
%
Expected return on plan assets
 
8.00
%
 
8.00
%
 
8.25
%
 
n/a

 
n/a

 
n/a

Rate of compensation increase
 
3.00
%
 
3.75%/3.00%

 
4.00
%
 
3.75
%
 
3.75
%
 
4.00
%
Health care cost trend rate
 
n/a

 
n/a

 
n/a

 
7.40
%
 
7.80
%
 
8.20
%
Ultimate health care cost trend rate
 
n/a

 
n/a

 
n/a

 
5.00
%
 
5.00
%
 
5.00
%
Year achieved
 
n/a

 
n/a

 
n/a

 
2020

 
2020

 
2020

Schedule of amounts in regulatory assets to be recognized over the next fiscal year [Table Text Block]
The estimated amounts to be amortized from regulatory assets into net periodic benefit cost in 2015 are as follows:
Millions of Dollars
 
Pension Benefits
 
Other Postretirement Benefits
Actuarial loss
 
$
10.6

 
$
1.6

Prior service cost
 
3.1

 
0.2

Total
 
$
13.7

 
$
1.8