XML 37 R25.htm IDEA: XBRL DOCUMENT v3.25.3
EMPLOYEE BENEFITS
 9 Months Ended
Sep. 30, 2025
Retirement Benefits [Abstract]  
EMPLOYEE BENEFITS EMPLOYEE BENEFITS
The following tables show the components of net periodic benefit cost (credit) (including amounts capitalized to our balance sheets) for our benefit plans:
Pension Benefits
Three Months Ended September 30Nine Months Ended September 30
(in millions)2025202420252024
Service cost$5.2 $6.1 $15.7 $18.2 
Interest cost29.6 29.2 89.0 87.5 
Expected return on plan assets(43.8)(45.5)(131.5)(136.6)
Loss (gain) on plan settlement(0.7)0.7 (0.7)0.7 
Amortization of prior service credit— (0.1)(0.1)(0.1)
Amortization of net actuarial loss9.0 14.9 32.1 44.6 
Net periodic benefit cost (credit)$(0.7)$5.3 $4.5 $14.3 

OPEB Benefits
Three Months Ended September 30Nine Months Ended September 30
(in millions)2025202420252024
Service cost$2.9 $2.7 $8.5 $8.1 
Interest cost6.4 5.6 19.2 17.0 
Expected return on plan assets(13.6)(13.2)(40.7)(39.5)
Amortization of prior service credit(1.4)(3.3)(6.4)(10.1)
Amortization of net actuarial gain(2.2)(1.9)(5.9)(5.7)
Net periodic benefit credit$(7.9)$(10.1)$(25.3)$(30.2)
During the nine months ended September 30, 2025, we made contributions and payments of $9.1 million related to our pension plans and $1.2 million related to our OPEB plans. We expect to make contributions and payments of $3.0 million related to our pension plans and $1.2 million related to our OPEB plans during the remainder of 2025, dependent upon various factors affecting us, including our liquidity position and possible tax law changes.

Effective January 1, 2023, the PSCW approved escrow accounting for pension and OPEB costs. As of September 30, 2025 and December 31, 2024, our balance sheets included regulatory assets of $5.8 million and $24.9 million, respectively, for pension costs and $23.3 million and $38.2 million, respectively, for OPEB costs. In accordance with our December 2024 PSCW rate orders, we began amortizing these regulatory assets in 2025. We continue to utilize escrow accounting for our current pension and OPEB costs. The above tables do not reflect any adjustments for the creation or amortization of these regulatory assets.