Duke Energy 2014 Annual Report Download - page 217

197
PART II
DUKE ENERGY CORPORATION • DUKE ENERGY CAROLINAS, LLC • PROGRESS ENERGY, INC. •
DUKE ENERGY PROGRESS, INC. • DUKE ENERGY FLORIDA, INC. • DUKE ENERGY OHIO, INC. • DUKE ENERGY INDIANA, INC.
Combined Notes to Consolidated Financial Statements – (Continued)
Reconciliation of Funded Status to Accrued Other Post-Retirement Benefi t Costs
Year Ended December 31, 2014
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Progress
Energy
Duke
Energy
Progress
Duke
Energy
Florida
Duke
Energy
Ohio
Duke
Energy
Indiana
Change in Projected Benefi t Obligation
Accumulated post-retirement benefi t obligation at prior measurement date $ 1,106 $ 265 $ 533 $ 233 $253 $ 42 $ 118
Service cost 10 24 13—1
Interest cost 49 12 22 11 12 2 5
Plan participants’ contributions 25 10 8 4 4 — 2
Actuarial gains(a) (87) (35) (19) (21) — — (20)
Transfers — 1 (48) (2) — (1) —
Plan amendments (85) (4) (77) — (78) (1) —
Benefi ts paid (103) (31) (44) (19) (24) (3) (10)
Accrued retiree drug subsidy 1——————
Accumulated post-retirement benefi t obligation at measurement date $ 916 $ 220 $ 379 $ 207 $170 $ 39 $ 96
Change in Fair Value of Plan Assets
Plan assets at prior measurement date $ 214 $ 143 $ — $ — $ — $ 8 $ 18
Actual return on plan assets 18 12 — — — — 2
Benefi ts paid (103) (31) (44) (19) (24) (3) (10)
Transfers — (1) — — — — —
Employer contributions 73 12 36 14 20 3 11
Plan participants’ contributions 25 10 8 4 4 — 2
Plan assets at measurement date $ 227 $ 145 $ — $ (1) $ — $ 8 $ 23
(a) Includes an increase in benefi t obligation of $7 million as a result of changes in Duke Energy’s mortality assumptions.
Year Ended December 31, 2013
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Progress
Energy
Duke
Energy
Progress
Duke
Energy
Florida
Duke
Energy
Ohio
Duke
Energy
Indiana
Change in Projected Benefi t Obligation
Accumulated post-retirement benefi t obligation at prior measurement date $ 1,794 $ 316 $ 1,128 $ 612 $ 413 $ 48 $ 136
Service cost 24 2 18 9 7 1 1
Interest cost 68 13 41 22 16 2 5
Plan participants’ contributions 47 15 14 6 7 3 3
Actuarial gains (227) (32) (156) (73) (70) (6) (12)
Transfers — — (1) (8) — — —
Plan amendments (476) (16) (455) (311) (91) — (3)
Benefi ts paid (132) (36) (60) (26) (31) (6) (14)
Accrued retiree drug subsidy 8 3 4 2 2 — 2
Accumulated post-retirement benefi t obligation at measurement date $ 1,106 $ 265 $ 533 $ 233 $ 253 $ 42 $ 118
Change in Fair Value of Plan Assets
Plan assets at prior measurement date $ 198 $ 134 $ — $ — $ — $ 7 $ 17
Actual return on plan assets 18 13 — — — 2 2
Benefi ts paid (132) (36) (60) (26) (31) (6) (14)
Transfers — (1) — — — — —
Employer contributions 83 18 46 20 24 2 10
Plan participants’ contributions 47 15 14 6 7 3 3
Plan assets at measurement date $ 214 $ 143 $ — $ — $ — $ 8 $ 18