Vectren 2012 Annual Report Download - page 94

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92
Funded Status
The funded status of the plans as of December 31, 2012 and 2011 follows:
Pension Benefits Other Benefits
(In millions) 2012 2011 2012 2011
Qualified Plans
Benefit obligation, end of period $ (360.0) $ (314.7) $ (54.4) $ (79.7)
Fair value of plan assets, end of period 295.7 261.0 — —
Funded Status of Qualified Plans, end of period (64.3) (53.7) (54.4) (79.7)
Benefit obligation of SERP Plan, end of period (17.3) (14.5) — —
Total funded status, end of period $ (81.6) $ (68.2) $ (54.4) $ (79.7)
Accrued liabilities $ 1.0 $ 0.7 $ 4.5 $ 5.1
Deferred credits & other liabilities $ 80.6 $ 67.5 $ 49.9 $ 74.6
Expected Cash Flows
In 2013, the Company expects to make contributions of approximately $10 million to its pension plan trusts. In addition, the
Company expects to make payments totaling approximately $1.0 million directly to SERP participants and approximately $3.5
million directly to those participating in the postretirement plan.
Estimated retiree pension benefit payments, including the SERP, projected to be required during the years following 2012 are
approximately (in millions) $23.8 in 2013, $24.1 in 2014, $23.9 in 2015, $25.8 in 2016, $35.0 in 2017, and $142.0 in years
2018-2022. Expected benefit payments projected to be required for postretirement benefits during the years following 2012 (in
millions) are approximately $4.5 in 2013, $4.7 in 2014, $4.8 in 2015, $5.0 in 2016, and $5.3 in 2017 and $30.8 in years
2018-2022.
Prior Service Cost, Actuarial Gains and Losses, and Transition Obligation Effects
Following is a roll forward of prior service cost, actuarial gains and losses, and transition obligations.
Pensions Other Benefits
(In millions)
Prior
Service
Cost
Net
Gain
or Loss
Prior
Service
Cost
Net
Gain
or Loss Transition
Obligation
Balance at January 1, 2010 $ 7.9 $ 68.5 $ (2.8) $ 9.7 $ 5.0
Amounts arising during the period 0.8 12.9 — 1.1 —
Reclassification to benefit costs (1.6) (3.2) 0.8 (0.5) (1.2)
Balance at December 31, 2010 $ 7.1 $ 78.2 $ (2.0) $ 10.3 $ 3.8
Amounts arising during the period — 42.2 — (0.6) —
Reclassification to benefit costs (1.7) (3.8) 0.8 (0.6) (1.1)
Balance at December 31, 2011 $ 5.4 $ 116.6 $ (1.2) $ 9.1 $ 2.7
Amounts arising during the period 0.7 26.4 (24.4) 2.8 (2.2)
Reclassification to benefit costs (1.6) (6.8) 2.5 (0.7) (0.5)
Balance at December 31, 2012 $ 4.5 $ 136.2 $ (23.1) $ 11.2 $ —