Duke Energy 2015 Annual Report Download - page 215

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PART II
DUKE ENERGY CORPORATION • DUKE ENERGY CAROLINAS, LLC • PROGRESS ENERGY, INC. •
DUKE ENERGY PROGRESS, LLC. • DUKE ENERGY FLORIDA, LLC. • DUKE ENERGY OHIO, INC. • DUKE ENERGY INDIANA, INC.
Combined Notes to Consolidated Financial Statements – (Continued)
Reconciliation of Funded Status to Accrued Other Post-Retirement Benefit Costs
Year Ended December 31, 2015
(in millions)
Duke
Energy
Duke
Energy
Carolinas
Progress
Energy
Duke
Energy
Progress
Duke
Energy
Florida
Duke
Energy
Ohio
Duke
Energy
Indiana
Change in Projected Benefit Obligation
Accumulated post-retirement benefit obligation at prior measurement date $ 916 $ 220 $ 379 $ 207 $170 $ 39 $ 96
Service cost 6 1 1 1 1 — 1
Interest cost 36 9 15 8 7 2 4
Plan participants’ contributions 20 4 7 4 3 1 2
Actuarial (gains) losses (39) (18) (1) (13) 11 (3) 1
Transfers — 2 — — — — —
Plan amendments (9) — — — — (1) (4)
Benefits paid (100) (18) (47) (19) (28) (3) (13)
Obligation transferred with the Disposal Group (3) — — — — — —
Accrued retiree drug subsidy 1 — — — — — —
Accumulated post-retirement benefit obligation at measurement date $ 828 $ 200 $ 354 $ 188 $164 $ 35 $ 87
Change in Fair Value of Plan Assets
Plan assets at prior measurement date 227 145 — (1) — 8 23
Actual return on plan assets (1) (1) 1 1 1 — (1)
Benefits paid (100) (18) (47) (19) (28) (3) (13)
Employer contributions 62 4 39 15 25 2 8
Plan participants’ contributions 20 4 7 4 3 1 2
Plan assets at measurement date $ 208 $ 134 $ — $ — $ 1 $ 8 $ 19
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 Benefit Obligation
Accumulated post-retirement benefit obligation at prior measurement date $ 1,106 $ 265 $ 533 $ 233 $253 $ 42 $ 118
Service cost 10 2 4 1 3 — 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) —
Benefits paid (103) (31) (44) (19) (24) (3) (10)
Accrued retiree drug subsidy 1 — — — — — —
Accumulated post-retirement benefit 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
Benefits 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 benefit obligation of $7 million as a result of changes in Duke Energy’s mortality assumptions.