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EMPLOYEE BENEFITS | 3 Months Ended
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Mar. 31, 2018
Retirement Benefits [Abstract] |
EMPLOYEE BENEFITS | EMPLOYEE BENEFITS The following tables show the components of net periodic pension and OPEB costs for our benefit plans.
|  | Pension Costs
|  | Three Months Ended March 31
(in millions) |  | 2018 |  | 2017
Service cost |  | $ | 12.0 |  |  | $ | 11.7 |
Interest cost |  | 28.3 |  |  | 31.2 |
Expected return on plan assets |  | (49.6 | ) |  | (49.6 | )
Loss on plan settlement |  | 0.4 |  |  | — |
Amortization of prior service cost |  | 0.7 |  |  | 0.7 |
Amortization of net actuarial loss |  | 23.1 |  |  | 21.9 |
Net periodic benefit cost |  | $ | 14.9 |  |  | $ | 15.9 |
|  | OPEB Costs
|  | Three Months Ended March 31
(in millions) |  | 2018 |  | 2017
Service cost |  | $ | 6.2 |  |  | $ | 6.3 |
Interest cost |  | 7.5 |  |  | 8.5 |
Expected return on plan assets |  | (14.9 | ) |  | (13.7 | )
Amortization of prior service credit |  | (3.8 | ) |  | (2.8 | )
Amortization of net actuarial loss |  | 0.3 |  |  | 1.5 |
Net periodic benefit credit |  | $ | (4.7 | ) |  | $ | (0.2 | )
During the three months ended March 31, 2018, we made contributions and payments of $3.7 million related to our pension plans and $1.6 million related to our OPEB plans. We expect to make contributions and payments of $8.5 million related to our pension plans and $7.9 million related to our OPEB plans during the remainder of 2018, dependent upon various factors affecting us, including our liquidity position and the effects of the new Tax Legislation. Effective January 1, 2018, we adopted ASU 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, which modifies certain aspects of the accounting for employee benefit costs. Under the new guidance, only the service cost component can be included in total operating expenses. The remaining components of net periodic benefit cost are required to be presented in the income statement separately from the service cost component, outside of operating income. As required, this change was applied retrospectively to all prior periods presented. Accordingly, for the quarters ended March 31, 2018 and 2017, we have presented the service cost component of our retirement benefit plans in other operation and maintenance on the income statements, while presenting the non-service cost components in other income, net. For the quarters ended March 31, 2018 and 2017, the non-service cost components of net benefit cost were in a net credit position, in the amount of $(7.2) million and $(2.6) million, respectively. The $(2.6) million related to the first quarter of 2017 was reclassified from other operation and maintenance to other income, net on our income statements. As required by ASU 2017-07, our income statements for the years ended December 31, 2017, 2016, and 2015 were retroactively restated from what was previously presented in our 2017 Annual Report on Form 10-K. The impacts to our income statements from adoption of this standard are reflected in the table below.
|  | Year Ended December 31, 2017 |  | Year Ended December 31, 2016 |  | Year Ended December 31, 2015
(in millions) |  | Form 10-K Income Statement |  | Impact of ASU 2017-07 |  | Income Statement After Adoption |  | Form 10-K Income Statement |  | Impact of ASU 2017-07 |  | Income Statement After Adoption |  | Form 10-K Income Statement |  | Impact of ASU 2017-07 |  | Income Statement After Adoption
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other operation and maintenance |  | $ | 2,047.0 |  |  | $ | 9.1 |  |  | $ | 2,056.1 |  |  | $ | 2,185.5 |  |  | $ | (14.2 | ) |  | $ | 2,171.3 |  |  | $ | 1,709.3 |  |  | $ | 1.4 |  |  | $ | 1,710.7 |
Other expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other income, net |  | 64.6 |  |  | 9.1 |  |  | 73.7 |  |  | 80.8 |  |  | (14.2 | ) |  | 66.6 |  |  | 58.9 |  |  | 1.4 |  |  | 60.3 |
In addition, under ASU 2017-07, only the service cost component of net periodic benefit cost is eligible for capitalization to property, plant, and equipment. In prior periods, a portion of all net benefit cost components was capitalized to property, plant, and equipment. As required, this amendment was applied prospectively, beginning January 1, 2018. As a result of the application of accounting principles for rate regulated entities, the non-service cost components of the net benefit cost that are no longer eligible for capitalization under this standard, but are capitalized under the regulatory framework, will be presented as regulatory assets or liabilities rather than property, plant, and equipment.

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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