Employee Benefit Plans

9 Months Ended

Sep. 30, 2023

Retirement Benefits [Abstract]

Employee Benefit Plans

9. EMPLOYEE BENEFIT PLANS

In DESC’s Consolidated Statements of Comprehensive Income, the service cost component of net periodic benefit (credit) cost is reflected in other operations and maintenance expense with the non-service cost components reflected in other income. Components of net periodic benefit cost (credit) recorded by DESC were as follows:

(millions)	Pension Benefits						Other Postretirement Benefits
Three Months Ended September 30,	2023			2022			2023			2022
Service cost	$	2		$	2		$	—		$	—
Interest cost		8			5			2			1
Expected return on assets		(8	)		(12	)		—			—
Amortization of actuarial losses		3			1			(1	)		—
Net periodic benefit cost (credit)	$	5		$	(4	)	$	1		$	1
Nine Months Ended September 30,
Service cost	$	6		$	6		$	1		$	1
Interest cost		24			16			6			4
Expected return on assets		(25	)		(37	)		—			—
Amortization of actuarial losses		9			1			(3	)		—
Net periodic benefit cost (credit)	$	14		$	(14	)	$	4		$	5

During the three and nine months ended September 30, 2023, DESC made no contributions to its pension trust and does not expect to make any such contributions in 2023. DESC 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.