Xcel Energy 2015 Annual Report Download - page 124
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(Thousands of Dollars) Jan. 1, 2013 Net Realized
Gains (Losses) Net Unrealized
Gains (Losses)
Purchases,
Issuances and
Settlements, Net Transfers Out
of Level 3 (a) Dec. 31, 2013
Asset-backed securities . . . . . . . . . . $ 14,639 $ — $ — $ — $ (14,639) $ —
Mortgage-backed securities . . . . . . . 39,904 — — — (39,904) —
Private equity investments. . . . . . . . 158,498 22,058 (24,335)(3,372) — 152,849
Real estate . . . . . . . . . . . . . . . . . . . . 64,597 (2,659) 8,690 9,317 (32,392) 47,553
Total. . . . . . . . . . . . . . . . . . . . . . . . $ 277,638 $ 19,399 $ (15,645) $ 5,945 $ (86,935) $ 200,402
(a) Transfers out of Level 3 into Level 2 were principally due to diminished use of unobservable inputs that were previously significant to these fair value
measurements and were subsequently sold during 2013.
Benefit Obligations — A comparison of the actuarially computed pension benefit obligation and plan assets for Xcel Energy is
presented in the following table:
(Thousands of Dollars) 2015 2014
Accumulated Benefit Obligation at Dec. 31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,368,239 $ 3,545,928
Change in Projected Benefit Obligation:
Obligation at Jan. 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,746,752 $ 3,440,704
Service cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 99,311 88,342
Interest cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 148,524 156,619
Actuarial (gain) loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (169,678) 342,826
Benefit payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (256,982) (281,739)
Obligation at Dec. 31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,567,927 $ 3,746,752
(Thousands of Dollars) 2015 2014
Change in Fair Value of Plan Assets:
Fair value of plan assets at Jan. 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,083,771 $ 3,010,140
Actual (loss) return on plan assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (33,102) 224,808
Employer contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90,093 130,562
Benefit payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (256,982) (281,739)
Fair value of plan assets at Dec. 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,883,780 $ 3,083,771
(Thousands of Dollars) 2015 2014
Funded Status of Plans at Dec. 31:
Funded status (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (684,147) $ (662,981)
(a) Amounts are recognized in noncurrent liabilities on Xcel Energy’s consolidated balance sheets.
(Thousands of Dollars) 2015 2014
Amounts Not Yet Recognized as Components of Net Periodic Benefit Cost:
Net loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,710,097 $ 1,757,935
Prior service credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (9,073) (10,878)
Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,701,024 $ 1,747,057
(Thousands of Dollars) 2015 2014
Amounts Not Yet Recognized as Components of Net Periodic Benefit Cost Have Been
Recorded as Follows Based Upon Expected Recovery in Rates:
Current regulatory assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 105,426 $ 113,432
Noncurrent regulatory assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,520,975 1,558,649
Deferred income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,002 29,143
Net-of-tax accumulated OCI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45,621 45,833
Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,701,024 $ 1,747,057
Measurement date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dec. 31, 2015 Dec. 31, 2014