CenterPoint Energy 2014 Annual Report Download - page 100
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The discount rate assumption was determined by matching the projected cash flows of CenterPoint Energy’
s plans against a hypothetical
yield curve of high
-quality corporate bonds represented by a series of annualized individual discount rates from one-half to 99 years.
For measurement purposes, medical costs are assumed to increase 7.25% and 8.50% for the pre-65 and post-
65 retirees during 2015,
respectively, and the prescription cost is assumed to increase 6.50% during 2015
, after which these rates decrease until reaching the ultimate
trend rate of 5.00% in 2024.
CenterPoint Energy’
s changes in accumulated comprehensive loss related to defined benefit, postretirement and other postemployment plans
are as follows (in millions):
________________
Amounts recognized in accumulated other comprehensive loss consist of the following:
The changes in plan assets and benefit obligations recognized in other comprehensive income during 2014 are as follows (in millions):
The total expense recognized in net periodic costs and other comprehensive income was $56 million and $30 million
for pension and
postretirement benefits, respectively, for the year ended December 31, 2014 .
90
Year Ended December 31,
2014
2013
Beginning Balance
$
(88
)
$
(132
)
Other comprehensive income (loss) before reclassifications (1)
(3
)
52
Amounts reclassified from accumulated other comprehensive income:
Prior service cost (2)
2
3
Actuarial losses (2)
9
14
Total reclassifications from accumulated other comprehensive income
11
17
Tax expense
(5
)
(25
)
Net current period other comprehensive income
3
44
Ending Balance
$
(85
)
$
(88
)
(1) Total other comprehensive income (loss) related to the re-
measurement of pension, postretirement and other postemployment plans.
(2)
These accumulated other comprehensive components are included in the computation of net periodic cost.
December 31,
2014
2013
Pension
Benefits
Postretirement
Benefits
Pension
Benefits
Postretirement
Benefits
(in millions)
Unrecognized actuarial loss
$
113
$
14
$
126
$
7
Unrecognized prior service cost
4
2
12
1
Net amount recognized in accumulated other comprehensive
loss
$
117
$
16
$
138
$
8
Pension
Benefits
Postretirement
Benefits
Net gain (loss)
$
10
$
(6
)
Amortization of net loss (gain)
9
(1
)
Amortization of prior service credit (cost)
2
(1
)
Total recognized in comprehensive income
$
21
$
(8
)