PG&E 2014 Annual Report Download - page 118
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110
Components of Net Periodic Benefit Cost
Net periodic benefit cost as reflected in PG&E Corporation’s Consolidated Statements of Income was as follows:
Pension Plan
(in millions)2014 2013 2012
Service cost $ 383 $ 468 $ 396
Interest cost 695 627 658
Expected return on plan assets (807) (650) (598)
Amortization of prior service cost 20 20 20
Amortization of net actuarial loss 2111 123
Netperiodicbenetcost 293 576 599
Less: transfer to regulatory account (1) 42 (238) (301)
Total expense recognized $ 335 $ 338 $ 298
(1) The Utility recorded these amounts to a regulatory account as they are probable of recovery from customers in future rates.
Postretirement Benefits Other than Pensions
(in millions)2014 2013 2012
Service cost $ 45 $ 53 $ 49
Interest cost 76 74 83
Expected return on plan assets (103) (79) (77)
Amortization of transition obligation - - 24
Amortization of prior service cost 23 23 25
Amortization of net actuarial loss 266
Netperiodicbenetcost $ 43 $ 77 $ 110
There was no material difference between PG&E Corporation and the Utility for the information disclosed above.
Components of Accumulated Other Comprehensive Income
PG&E Corporation and the Utility record unrecognized prior service costs, unrecognized gains and losses, and
unrecognized net transition obligations related to pension and post-retirement benefits other than pension as components of
accumulated other comprehensive income, net of tax. In addition, regulatory adjustments are recorded in the Consolidated
Statements of Income and Consolidated Balance Sheets to reflect the difference between expense or income calculated in
accordance with GAAP for accounting purposes and expense or income for ratemaking purposes, which is based on authorized
plan contributions. For pension benefits, a regulatory asset or liability is recorded for amounts that would otherwise be recorded
to accumulated other comprehensive income. For post-retirement benefits other than pension, the Utility generally records a
regulatory liability for amounts that would otherwise be recorded to accumulated other comprehensive income. As the Utility is
unable to record a regulatory asset for these other benefits, the charge remains in accumulated other comprehensive income (loss).