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Employee Benefit Plans
 6 Months Ended
Jun. 30, 2018
Compensation And Retirement Disclosure [Abstract]  
Employee Benefit Plans

Note 19. Employee Benefit Plans

Dominion Energy

The components of Dominion Energy’s provision for net periodic benefit cost (credit) were as follows:

 

 

 

Pension Benefits

 

 

Other Postretirement Benefits

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

40

 

 

$

34

 

 

$

6

 

 

$

6

 

Interest cost

 

 

84

 

 

 

87

 

 

 

14

 

 

 

14

 

Expected return on plan assets

 

 

(168

)

 

 

(161

)

 

 

(35

)

 

 

(31

)

Amortization of prior service cost (credit)

 

 

1

 

 

 

1

 

 

 

(13

)

 

 

(13

)

Amortization of net actuarial loss

 

 

49

 

 

 

41

 

 

 

2

 

 

 

3

 

Net periodic benefit cost (credit)

 

$

6

 

 

$

2

 

 

$

(26

)

 

$

(21

)

Six Months Ended June 30,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

79

 

 

$

69

 

 

$

13

 

 

$

13

 

Interest cost

 

 

168

 

 

 

173

 

 

 

28

 

 

 

30

 

Expected return on plan assets

 

 

(333

)

 

 

(320

)

 

 

(71

)

 

 

(63

)

Amortization of prior service cost (credit)

 

 

1

 

 

 

1

 

 

 

(26

)

 

 

(25

)

Amortization of net actuarial loss

 

 

97

 

 

 

81

 

 

 

5

 

 

 

6

 

Settlements

 

 

—

 

 

 

1

 

 

 

—

 

 

 

—

 

Net periodic benefit cost (credit)

 

$

12

 

 

$

5

 

 

$

(51

)

 

$

(39

)

 

Employer Contributions

During the six months ended June 30, 2018, Dominion Energy made no contributions to its defined benefit pension plans or other postretirement benefit plans. Dominion Energy expects to contribute approximately $12 million to its other postretirement benefit plans through VEBAs during the remainder of 2018.

 

 

Dominion Energy Gas

Dominion Energy Gas participates in certain Dominion Energy benefit plans as described in Note 21 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2017, as updated in Current Report on Form 8-K, filed June 6, 2018. See Note 18 for more information.

The components of Dominion Energy Gas’ provision for net periodic benefit cost (credit) for employees represented by collective bargaining units were as follows:

 

 

 

Pension Benefits

 

 

Other Postretirement Benefits

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

5

 

 

$

4

 

 

$

1

 

 

$

1

 

Interest cost

 

 

7

 

 

 

8

 

 

 

2

 

 

 

3

 

Expected return on plan assets

 

 

(38

)

 

 

(36

)

 

 

(6

)

 

 

(6

)

Amortization of prior service credit

 

 

—

 

 

 

—

 

 

 

(1

)

 

 

(1

)

Amortization of net actuarial loss

 

 

5

 

 

 

4

 

 

 

1

 

 

 

—

 

Net periodic benefit credit

 

$

(21

)

 

$

(20

)

 

$

(3

)

 

$

(3

)

Six Months Ended June 30,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

9

 

 

$

8

 

 

$

2

 

 

$

2

 

Interest cost

 

 

14

 

 

 

15

 

 

 

5

 

 

 

6

 

Expected return on plan assets

 

 

(75

)

 

 

(71

)

 

 

(14

)

 

 

(12

)

Amortization of prior service credit

 

 

—

 

 

 

—

 

 

 

(2

)

 

 

(1

)

Amortization of net actuarial loss

 

 

10

 

 

 

8

 

 

 

2

 

 

 

1

 

Net periodic benefit credit

 

$

(42

)

 

$

(40

)

 

$

(7

)

 

$

(4

)

 

Employer Contributions

During the six months ended June 30, 2018, Dominion Energy Gas made no contributions to its defined benefit pension plans or other postretirement benefit plans. Dominion Energy Gas expects to contribute approximately $12 million to its other postretirement benefit plans through VEBAs, for both employees represented by collective bargaining units and employees not represented by collective bargaining units, during the remainder of 2018.