Employee Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Obligation and Funded Status

Obligations and Funded Status	Pension Benefits				Other Benefits
(millions)	2012		2011		2012		2011

Change in benefit obligation
Net benefit obligation at prior measurement date ⁽¹⁾		$646.4		$610.3		$216.5		$222.0
Service cost		17.0		16.0		2.4		2.1
Interest cost		30.1		30.9		10.1		11.0
Plan participants’ contributions		0.0		0.0		3.7		3.9
Plan amendments ⁽⁴⁾		0.0		0.0		(5.2)		0.0
Actuarial loss (gain)		54.7		26.8		16.3		(7.4)
Gross benefits paid		(33.2)		(35.2)		(14.5)		(16.2)
Settlements		0.0		(2.4)		0.0		0.0
Federal subsidy on benefits paid		n/a		n/a		1.0		1.1

Net benefit obligation at measurement date ⁽¹⁾		$715.0		$646.4		$230.3		$216.5

(1) The measurement dates were Dec. 31, 2012 and Dec. 31, 2011.

(4) TECO Energy implemented an EGWP for its post-65 retiree prescription drug plan beginning Jan. 1, 2013.

Schedule of Change in Plan Assets

Change in plan assets
Fair value of plan assets at prior measurement date ⁽¹⁾	$467.6	$479.7	$0.0	$0.0
Actual return on plan assets ⁽²⁾	57.9	21.8	0.0	0.0
Employer contributions	36.8	3.7	9.8	11.2
Plan participants’ contributions	0.0	0.0	3.7	3.9
Settlements	0.0	(2.4)	0.0	0.0
Net benefits paid	(33.2)	(35.2)	(13.5)	(15.1)

Fair value of plan assets at measurement date ⁽¹⁾	$529.1	$467.6	$0.0	$0.0

(1) The measurement dates were Dec. 31, 2012 and Dec. 31, 2011.

(2) The actual return on plan assets differed from expectations due to general market conditions.

Schedule of Funded Status

Funded status
Fair value of plan assets ⁽³⁾	$529.1	$467.6	$0.0	$0.0
Less: Benefit obligation (PBO/APBO)	715.0	646.4	230.3	216.5

Funded status at measurement date ⁽¹⁾	(185.9)	(178.8)	(230.3)	(216.5)
Unrecognized net actuarial loss	270.3	251.7	42.7	25.5
Unrecognized prior service (benefit) cost	(0.7)	(1.2)	(1.0)	4.9
Unrecognized net transition obligation	0.0	0.0	0.0	1.9

Net amount required to be recognized at end of year	$83.7	$71.7	($188.6)	($184.2)

(1) The measurement dates were Dec. 31, 2012 and Dec. 31, 2011.

(3) The MRV of plan assets is used as the basis for calculating the EROA component of periodic pension expense. MRV reflects the fair value of plan assets adjusted for experience gains and losses (i.e. the differences between actual investment returns and expected returns) spread over five years.

Schedule of Amount Recognized in Balance Sheet

Amounts recognized in balance sheet
Regulatory assets	$216.5	$199.7	$59.6	$52.7
Accrued benefit costs and other current liabilities	(5.3)	(2.9)	(13.1)	(13.2)
Deferred credits and other liabilities	(180.6)	(175.9)	(217.2)	(203.3)
Accumulated other comprehensive loss (income) (pretax)	53.1	50.8	(17.9)	(20.4)

Net amount recognized at end of year	$83.7	$71.7	($188.6)	($184.2)

Schedule of Postretirement Benefit Amounts Recognized in Accumulated Other Comprehensive Income (Loss)

Amounts recognized in accumulated other comprehensive income


	Pension Benefits				Other Benefits
(millions)	2012		2011		2012			2011

Net actuarial loss (gain)	$	52.7	$	50.3	$	(17.2	)	$	(20.0	)
Prior service cost (credit)		0.4		0.5		(0.7	)		(0.8	)
Transition obligation		0.0		0.0		0.0			0.4

Amount recognized	$	53.1	$	50.8	$	(17.9	)	$	(20.4	)

Schedule of Net Periodic Benefit Cost

The technique calculates all possible bond portfolios that produce adequate cash flows to pay the yearly benefits and then selects the portfolio with the highest yield and uses that yield as the recommended discount rate.


	Pension Benefits									Other Benefits
Net periodic benefit cost ⁽¹⁾
(millions)	2012			2011			2010			2012		2011		2010

Service cost	$	17.0		$	16.0		$	16.2		$	2.4	$	2.1	$	3.2
Interest cost		30.1			30.9			33.2			10.1		11.1		10.9
Expected return on plan assets		(37.1	)		(38.4	)		(36.3	)		0.0		0.0		0.0
Amortization of:
Actuarial loss		15.3			11.3			12.4			0.1		0.1		0.0
Prior service (benefit) cost		(0.4	)		(0.4	)		(0.4	)		0.8		0.8		0.8
Transition obligation		0.0			0.0			0.0			1.8		2.3		2.3
Settlement loss		0.0			0.9			1.6			0.0		0.0		0.0

Net periodic benefit cost	$	24.9		$	20.3		$	26.7		$	15.2	$	16.4	$	17.2

(1) Benefit cost was measured for the years ended Dec. 31, 2012, 2011 and 2010.

Schedule of Pension Plan Assets

The company’s strategy is to hire proven managers and allocate assets to reflect a mix of investment styles, emphasize preservation of principal to minimize the impact of declining markets, and stay fully invested except for cash to meet benefit payment obligations and plan expenses.


	Target Allocation	Actual Allocation, End of Year
Asset Category		2012	2011

Equity securities	55%	55%		50%
Fixed income securities	45%	45%		50%

Total	100%	100%		100%

Schedule of Fair Value Hierarchy Plan's Investments

For other investments, the market approach was used. The following table sets forth by level within the fair value hierarchy the plan’s investments as of Dec. 31, 2012 and Dec. 31, 2011.


Pension Plan Investments
(millions)	At Fair Value as of Dec. 31, 2012

	Level 1		Level 2		Level 3		Total
Cash		$0.0		$0.0		$0.0		$0.0
Accounts receivable		64.8		0.0		0.0		64.8
Accounts payable		(72.8)		0.0		0.0		(72.8)
Cash equivalents
Short term investment funds (STIFs)		9.0		0.0		0.0		9.0
Treasury bills (T bills)		0.0		0.6		0.0		0.6
Repurchase agreements		0.0		23.1		0.0		23.1
Certificates of deposit (CDs)		0.0		1.1		0.0		1.1
Commercial paper		0.0		0.9		0.0		0.9
Money markets		0.0		0.6		0.0		0.6

Total cash equivalents		9.0		26.3		0.0		35.3

Equity securities
Common stocks		125.3		0.0		0.0		125.3
American depository receipts (ADRs)		6.2		0.0		0.0		6.2
Real estate investment trusts (REITs)		2.0		0.0		0.0		2.0
Mutual funds		153.4		0.0		0.0		153.4
Preferred stocks		0.0		0.8		0.0		0.8

Total equity securities		286.9		0.8		0.0		287.7

Fixed income securities
Municipal bonds		0.0		8.0		0.0		8.0
Government bonds		0.0		53.0		0.0		53.0
Corporate bonds		0.0		19.8		0.0		19.8
Asset backed securities (ABS)		0.0		0.5		0.0		0.5
Mortgage backed securities (MBS)		0.0		17.6		0.0		17.6
Commercial mortgage backed securities (CMBS)		0.0		0.3		0.0		0.3
Collateralized mortgage obligations (CMOs)		0.0		2.5		0.0		2.5
Mutual fund		0.0		63.7		0.0		63.7
Commingled fund		0.0		49.4		0.0		49.4

Total fixed income securities		0.0		214.8		0.0		214.8

Derivatives
Swaps		0.0		(0.5)		0.0		(0.5)
Purchased options (swaptions)		0.0		0.1		0.0		0.1
Written options (swaptions)		0.0		(0.4)		0.0		(0.4)

Total derivatives		0.0		(0.8)		0.0		(0.8)
Miscellaneous		0.0		0.1		0.0		0.1

Total		$287.9		$241.2		$0.0		$529.1


Pension Plan Investments
(millions)	At Fair Value as of Dec. 31, 2011

	Level 1			Level 2			Level 3		Total
Cash		$4.4			$0.0			$0.0		$4.4
Accounts receivable		39.6			0.0			0.0		39.6
Accounts payable		(20.4	)		0.0			0.0		(20.4	)
Cash equivalents
STIF		13.2			0.0			0.0		13.2
T bills		0.0			4.3			0.0		4.3
Money markets		0.0			0.3			0.0		0.3

Total cash equivalents		13.2			4.6			0.0		17.8

Equity securities
Common stocks		114.2			0.0			0.0		114.2
ADRs		6.5			0.6			0.0		7.1
REITs		2.0			0.0			0.0		2.0
Mutual fund		88.3			0.0			0.0		88.3
Preferred stocks		0.0			1.0			0.0		1.0
Commingled fund		0.0			19.8			0.0		19.8

Total equity securities		211.0			21.4			0.0		232.4

Fixed income securities
Municipal bonds		0.0			8.7			0.0		8.7
Government bonds		0.0			31.7			0.0		31.7
Corporate bonds		0.0			29.5			0.0		29.5
ABS		0.0			0.5			0.0		0.5
MBS		0.0			20.0			0.0		20.0
CMO		0.0			2.5			0.0		2.5
Mutual funds		0.0			101.1			0.0		101.1

Total fixed income securities		0.0			194.0			0.0		194.0

Derivatives
Swaps		0.0			(0.3	)		0.0		(0.3	)
Written options		0.0			0.1			0.0		0.1

Total derivatives		0.0			(0.2	)		0.0		(0.2	)

Total		$247.8			$219.8			$0.0		$467.6

•

The primary pricing inputs in determining the fair value of the Level 1 assets, excluding the mutual funds and STIF, are closing quoted prices in active markets.

•

The STIFs are valued at NAV as determined by JP Morgan. Shares may be sold any day the fund is accepting purchase orders, at the next NAV calculated after the order is accepted. The NAV is validated with purchases and sales at NAV, making this a Level 1 asset.

•

The primary pricing inputs in determining the Level 1 mutual funds are the mutual funds’ NAVs. The funds are registered open-ended mutual funds and the NAVs are validated with purchases and sales at NAV, making these Level 1 assets.

•

The T bills, CDS, commercial paper, money markets, and repurchase agreements are valued at cost due to their short term nature. Additionally, repurchase agreements are backed by collateral.

•

The primary pricing inputs in determining the fair value of the preferred stock is the price of comparable issues and dealer quotes.

•

The primary pricing inputs in determining the fair value Level 2 municipal bonds are benchmark yields, historical spreads, sector curves, rating updates, and prepayment schedules. The primary pricing inputs in determining the fair value of government bonds are the U.S. Treasury curve, CPI, and broker quotes, if available. The primary pricing inputs in determining the fair value of corporate bonds are the U.S. Treasury curve, base spreads, YTM, and benchmark quotes. ABS and CMO are priced using TBA prices, Treasury curves, swap curves, cash flow information, and bids and offers as inputs. MBS are priced using TBA prices, Treasury curves, average lives, spreads, and cash flow information. Commercial MBS are priced using payment information and yields.

•

The primary pricing input in determining the fair value of the Level 2 mutual fund is its NAV. However, since this mutual fund is an unregistered open-ended mutual fund, it is a Level 2 asset.

•

The commingled fund at Dec. 31, 2012 is a private fund valued at NAV. The fund invests in long duration U.S. investment-grade fixed income assets and seeks to increase return through active management of interest rate and credit risks. The NAV is calculated based on bid prices of the underlying securities. The fund honors subscription activity on the first business day of the month and the first business day following the 15^th calendar day of the month. Redemptions are honored on the 15^th or last business day of the month, providing written notice is given at least ten business days prior to withdrawal date. The commingled fund at Dec. 31, 2011 invests primarily in international equity securities, normally excluding securities issued in the U.S., with large- and mid-market capitalizations. The fund may invest in “value” or “growth” securities and is not limited to a particular investment style. The fund is valued using the NAV, as determined by the fund’s trustee in accordance with U.S. GAAP, at year end. For redemption, written notice of the amount to be withdrawn must be given no later than 4:00 p.m. eastern standard time.

•

Swaps are valued using benchmark yields, swap curves, and cash flow analyses.

•

Options are valued using the bid-ask spread and the last price.

Schedule of Benefit Payments

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:


Expected Benefit Payments
(including projected service and net of employee contributions)
(millions)	Pension Benefits		Other Postretirement Benefits

2013	$	50.2	$	13.1
2014		48.2		13.8
2015		50.4		14.3
2016		54.4		14.9
2017		54.7		15.3
2018-2022		296.3		80.5

Benefit obligations [Member]

Schedule of Assumptions Used to Determine Benefit

Assumptions used to determine benefit obligations at Dec. 31:


	Pension Benefits		Other Benefits
	2012	2011	2012	2011

Discount rate	4.196%	4.797%	4.180%	4.744%
Rate of compensation increase - weighted	3.76%	3.83%	3.74%	3.82%
Healthcare cost trend rate
Immediate rate	n/a	n/a	7.50%	7.75%
Ultimate rate	n/a	n/a	4.50%	4.50%
Year rate reaches ultimate	n/a	n/a	2025	2025

Schedule of One-Percentage-Point Change in Assumed Health Care Cost

A one-percentage-point change in assumed health care cost trend rates would have the following effect on the benefit obligation:


(millions)	1% Increase		1% Decrease

Effect on postretirement benefit obligation	$	8.0	$	(7.0	)

Net periodic benefit cost [Member]

Schedule of Assumptions Used to Determine Benefit

Assumptions used to determine net periodic benefit cost for years ended Dec. 31:


	Pension Benefits			Other Benefits
	2012	2011	2010	2012	2011	2010

Discount rate	4.797%	5.300%	5.750%	4.744%	5.250%	5.600%
Expected long-term return on plan assets	7.50%	7.75%	8.25%	n/a	n/a	n/a
Rate of compensation increase	3.83%	3.88%	4.25%	3.82%	3.87%	4.25%
Healthcare cost trend rate
Initial rate	n/a	n/a	n/a	7.75%	8.00%	8.00%
Ultimate rate	n/a	n/a	n/a	4.50%	4.50%	5.00%
Year rate reaches ultimate	n/a	n/a	n/a	2025	2023	2017

Effect on expenses [Member]

Schedule of One-Percentage-Point Change in Assumed Health Care Cost

A one-percentage-point change in assumed health care cost trend rates would have the following effect on expense:


(millions)	1% Increase		1% Decrease

Effect on periodic cost	$	0.5	$	(0.4	)

TAMPA ELECTRIC CO [Member]

Schedule of Amount Recognized in Balance Sheet


Tampa Electric Company	Pension Benefits				Other Benefits
Amounts recognized in balance sheet
(millions)	2012		2011		2012		2011

Regulatory assets	$	216.5	$	199.7	$	59.6	$	52.7
Accrued benefit costs and other current liabilities		(0.9)		(1.0)		(10.6)		(10.6)
Deferred credits and other liabilities		(139.8)		(133.2)		(174.2)		(163.6)

	$	75.8	$	65.5	$	(125.2)	$	(121.5)

TAMPA ELECTRIC CO [Member] | Benefit obligations [Member]

Schedule of Assumptions Used to Determine Benefit

Assumptions used to determine benefit obligations at Dec. 31:


	Pension Benefits		Other Benefits
	2012	2011	2012		2011

Discount rate	4.196%	4.797%		4.180%		4.744%
Rate of compensation increase-weighted average	3.76%	3.83%		3.74%		3.82%
Healthcare cost trend rate
Immediate rate	n/a	n/a		7.50%		7.75%
Ultimate rate	n/a	n/a		4.50%		4.50%
Year rate reaches ultimate	n/a	n/a		2025		2025

Schedule of One-Percentage-Point Change in Assumed Health Care Cost

A one-percentage-point change in assumed health care cost trend rates would have the following effect on TEC’s benefit obligation:


(millions)	1% Increase		1 % Decrease

Effect on postretirement benefit obligation	$	6.5	$	(5.7)

TAMPA ELECTRIC CO [Member] | Net periodic benefit cost [Member]

Schedule of Assumptions Used to Determine Benefit

Assumptions used to determine net periodic benefit cost for years ended Dec. 31,


	Pension Benefits			Other Benefits
	2012	2011	2010	2012	2011	2010

Discount rate	4.797%	5.30%	5.75%	4.744%	5.25%	5.60%
Expected long-term return on plan assets	7.50%	7.75%	8.25%	n/a	n/a	n/a
Rate of compensation increase	3.83%	3.88%	4.25%	3.82%	3.87%	4.25%
Healthcare cost trend rate
Immediate rate	n/a	n/a	n/a	7.75%	8.00%	8.00%
Ultimate rate	n/a	n/a	n/a	4.50%	4.50%	5.00%
Year rate reaches ultimate	n/a	n/a	n/a	2025	2023	2017

TAMPA ELECTRIC CO [Member] | Effect on expenses [Member]

Schedule of One-Percentage-Point Change in Assumed Health Care Cost

A one-percentage-point change in assumed health care cost trend rates would have the following effect on TEC’s expense:


(millions)	1% Increase		1% Decrease

Effect on periodic cost	$	0.4	$	(0.3)

Teco Energy [Member]

Schedule of Obligation and Funded Status


	Pension Benefits				Other Benefits
Obligations and Funded Status
(millions)	2012		2011		2012		2011

Change in benefit obligation
Net benefit obligation at prior measurement date ⁽¹⁾		$646.4		$610.3		$216.5		$222.0
Service cost		17.0		16.0		2.4		2.1
Interest cost		30.1		30.9		10.1		11.0
Plan participants’ contributions		0.0		0.0		3.7		3.9
Plan amendments ⁽⁴⁾		0.0		0.0		(5.2)		0.0
Actuarial loss (gain)		54.7		26.8		16.3		(7.4)
Gross benefits paid		(33.2)		(35.2)		(14.5)		(16.2)
Settlements		0.0		(2.4)		0.0		0.0
Federal subsidy on benefits paid		n/a		n/a		1.0		1.1

Net benefit obligation at measurement date ⁽¹⁾		$715.0		$646.4		$230.3		$216.5

(1)	The measurement dates were Dec. 31, 2012 and Dec. 31, 2011.

(4)	TECO Energy implemented an EGWP for its post-65 retiree prescription drug plan beginning Jan. 1, 2013.

Schedule of Change in Plan Assets

Change in plan assets
Fair value of plan assets at prior measurement date ⁽¹⁾	$467.6	$479.7	$0.0	$0.0
Actual return on plan assets ⁽²⁾	57.9	21.8	0.0	0.0
Employer contributions	36.8	3.7	9.8	11.2
Plan participants’ contributions	0.0	0.0	3.7	3.9
Settlements	0.0	(2.4)	0.0	0.0
Gross benefits paid	(33.2)	(35.2)	(13.5)	(15.1)

Fair value of plan assets at measurement date ⁽¹⁾	$529.1	$467.6	$0.0	$0.0

(1)	The measurement dates were Dec. 31, 2012 and Dec. 31, 2011.

(2)	The actual return on plan assets differed from expectations due to general market conditions.

Schedule of Funded Status

Funded status
Fair value of plan assets ⁽³⁾	$529.1	$467.6	$0.0	$0.0
Less: Benefit obligation (PBO/APBO)	715.0	646.4	230.3	216.5

Funded status at measurement date ⁽¹⁾	(185.9)	(178.8)	(230.3)	(216.5)
Unrecognized net actuarial loss	270.3	251.7	42.7	25.5
Unrecognized prior service (benefit) cost	(0.7)	(1.2)	(1.0)	4.9
Unrecognized net transition obligation	0.0	0.0	0.0	1.9

Net amount required to be recognized at end of year	$83.7	$71.7	($188.6)	($184.2)

(1)	The measurement dates were Dec. 31, 2012 and Dec. 31, 2011.

Schedule of Amount Recognized in Balance Sheet

Amounts recognized in balance sheet
Regulatory assets	$216.5	$199.7	$59.6	$52.7
Accrued benefit costs and other current liabilities	(5.3)	(2.9)	(13.1)	(13.2)
Deferred credits and other liabilities	(180.6)	(175.9)	(217.2)	(203.3)
Accumulated other comprehensive loss (income) (pretax)	53.1	50.8	(17.9)	(20.4)

Net amount recognized at end of year	$83.7	$71.7	($188.6)	($184.2)

Schedule of Net Periodic Benefit Cost

Components of TECO Energy Consolidated net periodic benefit cost ⁽¹⁾


	Pension Benefits									Other Benefits
(millions)	2012			2011			2010			2012		2011		2010

Service cost	$	17.0		$	16.0		$	16.2		$	2.4	$	2.1	$	3.2
Interest cost		30.1			30.9			33.2			10.1		11.1		10.9
Expected return on plan assets		(37.1	)		(38.4	)		(36.3	)		0.0		0.0		0.0
Amortization of:
Actuarial loss		15.3			11.3			12.4			0.1		0.1		0.0
Prior service (benefit) cost		(0.4	)		(0.4	)		(0.4	)		0.8		0.8		0.8
Transition obligation		0.0			0.0			0.0			1.8		2.3		2.3
Curtailment loss (benefit)		0.0			0.0			0.0			0.0		0.0		0.0
Settlement loss		0.0			0.9			1.6			0.0		0.0		0.0

Net periodic benefit cost	$	24.9		$	20.3		$	26.7		$	15.2	$	16.4	$	17.2

(1) Benefit cost was measured for the years ended Dec. 31, 2012, 2011 and 2010.

Schedule of Pension Plan Assets

TECO Energy’s strategy is to hire proven managers and allocate assets to reflect a mix of investment styles, emphasize preservation of principal to minimize the impact of declining markets, and stay fully invested except for cash to meet benefit payment obligations and plan expenses.


	Target Allocation	Actual Allocation, End of Year
Asset Category		2012	2011

Equity securities	55%	55%	50%
Fixed income securities	45%	45%	50%

Total	100%	100%	100%

Schedule of Fair Value Hierarchy Plan's Investments

The following table sets forth by level within the fair value hierarchy the plan’s investments as of Dec. 31, 2012 and 2011.


Pension Plan Investments
(millions)	At Fair Value as of Dec. 31, 2012

	Level 1		Level 2		Level 3		Total
Cash		$0.0		$0.0		$0.0		$0.0
Accounts receivable		64.8		0.0		0.0		64.8
Accounts payable		(72.8)		0.0		0.0		(72.8)
Cash equivalents
Short term investment funds (STIFs)		9.0		0.0		0.0		9.0
Treasury bills (T bills)		0.0		0.6		0.0		0.6
Repurchase agreements		0.0		23.1		0.0		23.1
Certificates of deposit (CDs)		0.0		1.1		0.0		1.1
Commercial paper		0.0		0.9		0.0		0.9
Money markets		0.0		0.6		0.0		0.6

Total cash equivalents		9.0		26.3		0.0		35.3

Equity securities
Common stocks		125.3		0.0		0.0		125.3
American depository receipts (ADRs)		6.2		0.0		0.0		6.2
Real estate investment trusts (REITs)		2.0		0.0		0.0		2.0
Mutual funds		153.4		0.0		0.0		153.4
Preferred stocks		0.0		0.8		0.0		0.8

Total equity securities		286.9		0.8		0.0		287.7

Fixed income securities
Municipal bonds		0.0		8.0		0.0		8.0
Government bonds		0.0		53.0		0.0		53.0
Corporate bonds		0.0		19.8		0.0		19.8
Asset backed securities (ABS)		0.0		0.5		0.0		0.5
Mortgage backed securities (MBS)		0.0		17.6		0.0		17.6
Commercial mortgage backed securities (CMBS)		0.0		0.3		0.0		0.3
Collateralized mortgage obligations (CMOs)		0.0		2.5		0.0		2.5
Mutual fund		0.0		63.7		0.0		63.7
Commingled fund		0.0		49.4		0.0		49.4

Total fixed income securities		0.0		214.8		0.0		214.8

Derivatives
Swaps		0.0		(0.5)		0.0		(0.5)
Purchased options (swaptions)		0.0		0.1		0.0		0.1
Written options (swaptions)		0.0		(0.4)		0.0		(0.4)

Total derivatives		0.0		(0.8)		0.0		(0.8)
Miscellaneous		0.0		0.1		0.0		0.1

Total		$287.9		$241.2		$0.0		$529.1


Pension Plan Investments
(millions)	At Fair Value as of Dec. 31, 2011

	Level 1		Level 2		Level 3		Total
Cash		$4.4		$0.0		$0.0		$4.4
Accounts receivable		39.6		0.0		0.0		39.6
Accounts payable		(20.4)		0.0		0.0		(20.4)
Cash equivalents
Short term investment fund (STIF)		13.2		0.0		0.0		13.2
Treasury bills (T bills)		0.0		4.3		0.0		4.3
Money markets		0.0		0.3		0.0		0.3

Total cash equivalents		13.2		4.6		0.0		17.8

Equity securities
Common stocks		114.2		0.0		0.0		114.2
American depository receipt (ADR)		6.5		0.6		0.0		7.1
Real estate investment trust (REIT)		2.0		0.0		0.0		2.0
Mutual fund		88.3		0.0		0.0		88.3
Preferred stocks		0.0		1.0		0.0		1.0
Commingled fund		0.0		19.8		0.0		19.8

Total equity securities		211.0		21.4		0.0		232.4

Fixed income securities
Municipal bonds		0.0		8.7		0.0		8.7
Government bonds		0.0		31.7		0.0		31.7
Corporate bonds		0.0		29.5		0.0		29.5
Asset backed securities (ABS)		0.0		0.5		0.0		0.5
Mortgage back securities (MBS)		0.0		20.0		0.0		20.0
CMO		0.0		2.5		0.0		2.5
Mutual funds		0.0		101.1		0.0		101.1

Total fixed income securities		0.0		194.0		0.0		194.0

Derivatives
Swaps		0.0		(0.3)		0.0		(0.3)
Written options		0.0		0.1		0.0		0.1

Total derivatives		0.0		(0.2)		0.0		(0.2)

Total		$247.8		$219.8		$0.0		$467.6

Schedule of Benefit Payments

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:


Expected Benefit Payments - TECO Energy
(including projected service and net of employee contributions)			Other
(millions)	Pension Benefits		Postretirement Benefits

2013		50.2		13.1
2014		48.2		13.8
2015		50.4		14.3
2016		54.4		14.9
2017		54.7		15.3
2018-2022		296.3		80.5