EMPLOYEE BENEFIT PLANS

6 Months Ended

Jun. 30, 2017

Pension and Other Postretirement Benefit Plans

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

Components of net periodic benefit cost recorded by the Company and Consolidated SCE&G were as follows: 

The Company	Pension Benefits						Other Postretirement Benefits
	2017			2016			2017		2016
Three months ended June 30,
Service cost	$	5.3		$	5.5		$	1.2	$	1.3
Interest cost	9.4			9.9			2.9		3.0
Expected return on assets	(13.8		)	(14.1		)	—		—
Prior service cost amortization	0.4			1.0			—		0.1
Amortization of actuarial losses	3.9			3.7			0.4		0.1
Net periodic benefit cost	$	5.2		$	6.0		$	4.5	$	4.5

Six months ended June 30,
Service cost	$	10.5		$	11.0		$	2.3	$	2.5
Interest cost	18.9			19.8			5.9		6.0
Expected return on assets	(27.6		)	(28.1		)	—		—
Prior service cost amortization	0.8			2.0			—		0.2
Amortization of actuarial losses	7.9			7.4			0.7		0.2
Net periodic benefit cost	$	10.5		$	12.1		$	8.9	$	8.9

Consolidated SCE&G	Pension Benefits						Other Postretirement Benefits
	2017			2016			2017		2016
Three months ended June 30,
Service cost	$	4.4		$	4.5		$	1.0	$	1.0
Interest cost	8.1			8.4			2.4		2.5
Expected return on assets	(11.8		)	(11.9		)	—		—
Prior service cost amortization	0.3			0.8			—		0.1
Amortization of actuarial losses	3.4			3.1			0.3		0.1
Net periodic benefit cost	$	4.4		$	4.9		$	3.7	$	3.7

Six months ended June 30,
Service cost	$	8.8		$	9.0		$	1.9	$	2.0
Interest cost	16.1			16.8			4.8		5.0
Expected return on assets	(23.6		)	(23.8		)	—		—
Prior service cost amortization	0.7			1.7			—		0.1
Amortization of actuarial losses	6.7			6.2			0.6		0.2
Net periodic benefit cost	$	8.7		$	9.9		$	7.3	$	7.3

No significant contribution to the pension trust is expected for the foreseeable future based on current market conditions and assumptions, 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. PSNC Energy recovers pension costs through cost of service rates.

SCEG

Pension and Other Postretirement Benefit Plans

EMPLOYEE BENEFIT PLANS

8. EMPLOYEE BENEFIT PLANS

Components of net periodic benefit cost recorded by the Company and Consolidated SCE&G were as follows: 

The Company	Pension Benefits						Other Postretirement Benefits
	2017			2016			2017		2016
Three months ended June 30,
Service cost	$	5.3		$	5.5		$	1.2	$	1.3
Interest cost	9.4			9.9			2.9		3.0
Expected return on assets	(13.8		)	(14.1		)	—		—
Prior service cost amortization	0.4			1.0			—		0.1
Amortization of actuarial losses	3.9			3.7			0.4		0.1
Net periodic benefit cost	$	5.2		$	6.0		$	4.5	$	4.5

Six months ended June 30,
Service cost	$	10.5		$	11.0		$	2.3	$	2.5
Interest cost	18.9			19.8			5.9		6.0
Expected return on assets	(27.6		)	(28.1		)	—		—
Prior service cost amortization	0.8			2.0			—		0.2
Amortization of actuarial losses	7.9			7.4			0.7		0.2
Net periodic benefit cost	$	10.5		$	12.1		$	8.9	$	8.9

Consolidated SCE&G	Pension Benefits						Other Postretirement Benefits
	2017			2016			2017		2016
Three months ended June 30,
Service cost	$	4.4		$	4.5		$	1.0	$	1.0
Interest cost	8.1			8.4			2.4		2.5
Expected return on assets	(11.8		)	(11.9		)	—		—
Prior service cost amortization	0.3			0.8			—		0.1
Amortization of actuarial losses	3.4			3.1			0.3		0.1
Net periodic benefit cost	$	4.4		$	4.9		$	3.7	$	3.7

Six months ended June 30,
Service cost	$	8.8		$	9.0		$	1.9	$	2.0
Interest cost	16.1			16.8			4.8		5.0
Expected return on assets	(23.6		)	(23.8		)	—		—
Prior service cost amortization	0.7			1.7			—		0.1
Amortization of actuarial losses	6.7			6.2			0.6		0.2
Net periodic benefit cost	$	8.7		$	9.9		$	7.3	$	7.3

No significant contribution to the pension trust is expected for the foreseeable future based on current market conditions and assumptions, 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. PSNC Energy recovers pension costs through cost of service rates.