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Employee Postretirement Benefits (Tables)
3 Months Ended
Mar. 31, 2017
Compensation And Retirement Disclosure [Abstract]  
Schedule of Net Periodic Benefit Cost

The following table presents detail related to TECO Energy’s periodic expense for pension and other postretirement benefits. Amounts disclosed for TECO Energy’s pension benefits include the amounts related to its qualified pension plan and non-qualified, non-contributory SERP.

 

TECO Energy Pension Expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(millions)

Pension Benefits

 

 

Other Postretirement Benefits

 

Three months ended March 31,

2017

 

 

2016

 

 

2017

 

 

2016

 

Components of net periodic benefit expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

$

5

 

 

$

5

 

 

$

1

 

 

$

1

 

Interest cost

 

7

 

 

 

8

 

 

 

2

 

 

 

2

 

Expected return on assets

 

(12

)

 

 

(11

)

 

 

0

 

 

 

0

 

Amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior service (benefit) cost

 

0

 

 

 

0

 

 

 

(1

)

 

 

(1

)

Actuarial loss

 

4

 

 

 

3

 

 

 

0

 

 

 

0

 

Settlement cost

 

7

 

(1)

 

0

 

 

 

0

 

 

 

0

 

Net pension expense recognized in the

   TECO Energy Consolidated Condensed Statements of Income

$

11

 

 

$

5

 

 

$

2

 

 

$

2

 

 

(1)

Represents TECO Energy’s SERP settlement charge as a result of retirements that occurred subsequent to the Merger with Emera. The charge did not impact TEC’s financial statements.