National Grid 2012 Annual Report Download - page 37

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36
2012 2011 2012 2011
Non-current assets 248$ -$ -$ 5$
Current liabilities (25) (23) (11) (30)
Non-current liabilities (1,404) (731) (2,295) (2,261)
Total (1,181)$ (754)$ (2,306)$ (2,286)$
Pension Plans
The amounts recognized in the accompanying consolidated balance sheets are as follows:
PBOP Plans
(in millions of dollars)
March 31, March 31,
The above table reflects Granite State’ s and EnergyNorth’ s net pension liabilities of $8 million and PBOP liabilities of
$17 million at March 31, 2012 and net pension liabilities of $6 million and PBOP liabilities of $16 million at March 31,
2011, which are reflected as assets held for sale in the Company’ s consolidated balance sheets.
Certain of the Company’ s subsidiaries have regulatory recovery of these costs and are included in regulatory assets in the
accompanying consolidated balance sheets as follows:
2012 2011 2012 2011
Nantucket 2$ 2$ 1$ 1$
Massachusetts Electric 232 195 85 85
New England Power Company 67 58 16 19
Narragansett (Gas) 51 34 211
Niagara Mohawk Power Corporation 376 338 171 198
KeySpan Corporation and Subsidiaries 317 209 118 80
Total 1,045$ 836$ 393$ 394$
March 31, March 31,
Pension Plans PBOP Plans
Other subsidiaries that do not get regulatory recovery of these costs are recorded as part of operations and maintenance
expense in the accompanying consolidated statements of operations.
Expected Benefit Payments
Based on current assumptions, the Company expects to make the following benefit payments subsequent to March 31,
2012 through March 31, 2022:
For the Years Ended March 31, Pension Benefits
Postretirement
Benefits
2013 417$ 206$
2014 425 205
2015 435 213
2016 444 221
2017 452 229
2018-2022 2,320 1,236
Total 4,493$ 2,310$
(in millions of dollars)