CenterPoint Energy 2014 Annual Report Download - page 98
Download and view the complete annual report
Please find page 98 of the 2014 CenterPoint Energy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88 -
89 -
90 -
91 -
92 -
93 -
94 -
95 -
96 -
97 -
98 -
99 -
100 -
101 -
102 -
103 -
104 -
105 -
106 -
107 -
108 -
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
 |
 |
CenterPoint Energy’
s net periodic cost includes the following components relating to pension, including the benefit restoration plan, and
postretirement benefits:
CenterPoint Energy used the following assumptions to determine net periodic cost relating to pension and postretirement benefits:
In determining net periodic benefits cost, CenterPoint Energy uses fair value, as of the beginning of the year, as its basis for determining
expected return on plan assets.
88
Year Ended December 31,
2014
2013
2012
Pension
Benefits
Post-
retirement
Benefits
Pension
Benefits
Post-
retirement
Benefits
Pension
Benefits
Post-
retirement
Benefits
(in millions)
Service cost
$
42
$
2
$
44
$
2
$
35
$
1
Interest cost
100
22
90
20
100
23
Expected return on plan assets
(125
)
(7
)
(135
)
(7
)
(121
)
(7
)
Amortization of prior service cost (credit)
10
(1
)
10
1
8
3
Amortization of net loss
44
1
63
6
60
4
Amortization of transition obligation
—
5
—
7
—
7
Benefit enhancement
—
—
—
—
—
1
Curtailment (1)
6
—
—
—
—
—
Net periodic cost
$
77
$
22
$
72
$
29
$
82
$
32
(1) During the fourth quarter of 2014, CenterPoint Energy recognized a curtailment pension loss of $6 million
related to employees
seconded to Enable. Substantially all of the seconded employees became employees of Enable effective January 1, 2015.
Year Ended December 31,
2014
2013
2012
Pension
Benefits
Post-
retirement
Benefits
Pension
Benefits
Post-
retirement
Benefits
Pension
Benefits
Post-
retirement
Benefits
Discount rate
4.80
%
4.75
%
4.00
%
3.90
%
4.90
%
4.80
%
Expected return on plan assets
7.00
5.50
8.00
5.50
8.00
5.50
Rate of increase in compensation levels
3.90
—
4.00
—
4.20
—