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Pension and Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]  
Schedule Of Allocation of Plan Assets
December 31, 2022
Defined Benefit Pension PlanPostretirement Benefit Plan
Asset CategoryMinimumMaximumMinimumMaximum
Domestic Equities7%27%0%55%
International Equities3%13%0%25%
Fixed Income69%81%20%100%
Real Estate0%3%0%0%
Private Equity0%3%0%0%
Short-Term Investments0%10%0%10%
December 31, 2021
Defined Benefit Pension PlanPostretirement Benefit Plan
Asset CategoryMinimumMaximumMinimumMaximum
Domestic Equities7%27%0%55%
International Equities3%13%0%25%
Fixed Income69%81%20%100%
Real Estate0%3%0%0%
Private Equity0%3%0%0%
Short-Term Investments0%10%0%10%
The actual Pension Plan and Postretirement Plan Asset Mix at December 31, 2022 and December 31, 2021 are as follows:
Defined Benefit
Pension Assets(1)
December 31,
2022		Postretirement
Benefit Plan Assets		December 31,
2022
Asset Class (in millions)
Asset Value% of Total AssetsAsset Value% of Total Assets
Domestic Equities$231.1 16.2 %$86.9 38.6 %
International Equities119.0 8.4 %36.6 16.3 %
Fixed Income1,004.3 70.6 %94.7 42.1 %
Real Estate5.0 0.3 %— — 
Cash/Other63.4 4.5 %6.7 3.0 %
Total$1,422.8 100.0 %$224.9 100.0 %
    
Defined Benefit Pension Assets(1)
December 31,
2021		Postretirement Benefit Plan AssetsDecember 31,
2021
Asset Class (in millions)
Asset Value% of Total AssetsAsset Value% of Total Assets
Domestic Equities$324.3 16.4 %$118.6 40.4 %
International Equities150.9 7.6 %50.5 17.2 %
Fixed Income1,382.3 69.7 %118.8 40.4 %
Real Estate37.2 1.9 %— — 
Cash/Other87.0 4.4 %5.8 2.0 %
Total$1,981.7 100.0 %$293.7 100.0 %
(1)Total includes accrued dividends and pending trades with brokers.
Schedule Of Fair Value and Changes In The Fair Value Of The Plan Assets
Fair Value Measurements at December 31, 2022: 
(in millions)December 31,
2022		Quoted Prices in  Active Markets for
 Identical Assets
(Level 1)		Significant Other
Observable Inputs (Level 2)		Significant
Unobservable Inputs
 (Level 3)
Pension plan assets:
Cash$2.5 $2.0 $0.5 $— 
Equity securities
International equities0.5 0.5 — — 
Fixed income securities
Government316.3 — 316.3 — 
Corporate407.8 — 407.8 — 
Mortgages/ Asset Backed Securities2.3 — 2.3 — 
Other fixed income1.9 1.9 — — 
Mutual Funds
U.S. multi-strategy97.4 97.4 — — 
International equities29.0 29.0 — — 
Fixed income0.2 0.2 — — 
Private equity limited partnerships(3)
U.S. multi-strategy(1)
6.3 — — — 
International multi-strategy(2)
2.3 — — — 
Distressed opportunities0.1 — — — 
Real estate(3)
5.0 — — — 
Commingled funds(3)
Short-term money markets46.2 — — — 
U.S. equities133.7 — — — 
International equities89.6 — — — 
Fixed income275.9 — — — 
Pension plan assets subtotal$1,417.0 $131.0 $726.9 $— 
Other postretirement benefit plan assets:
Mutual funds
U.S. multi-strategy76.2 76.2 — — 
International equities16.3 16.3 — — 
Fixed income94.7 94.7 — — 
Commingled funds(3)
Short-term money markets17.4 — — — 
U.S. equities10.7 — — — 
International equities20.3 — — — 
Other postretirement benefit plan assets subtotal$235.6 $187.2 $— $— 
Due to brokers, net(4)
(2.0)— (2.0)— 
Receivables/payables(10.7)— (10.7)— 
Accrued income/dividends7.8 7.8 — — 
Total pension and other postretirement benefit plan assets$1,647.7 $326.0 $714.2 $— 
(1)This class includes limited partnerships/fund of funds that invest in a diverse portfolio of private equity strategies, including buy-outs, growth capital, special situations and secondary markets, primarily inside the United States. 
(2)This class includes limited partnerships/fund of funds that invest a in diverse portfolio of private equity strategies, including buy-outs, growth capital, special situations and secondary markets, primarily outside the United States.
(3)This class of investments is measured at fair value using the net asset value per share and has not been classified in the fair value hierarchy.
(4)This class represents pending trades with brokers.
The table below sets forth a summary of unfunded commitments, redemption frequency and redemption notice periods for certain investments that are measured at fair value using the net asset value per share for the year ended December 31, 2022:
(in millions)Fair ValueUnfunded CommitmentsRedemption FrequencyRedemption Notice Period
Commingled Funds
Short-term money markets$63.6 $— Daily1 day
U.S. equities144.4 — Daily
1 day - 5 days
International equities109.9 — Monthly
10 days-30 days
Fixed income275.9 — Daily3 days
Private Equity and Real Estate Limited Partnerships(1)
13.7 11.6 N/AN/A
Total$607.5 $11.6 
(1)Private equity and real estate limited partnerships typically call capital over a 3-5 year period and pay out distributions as the underlying investments are liquidated. The typical expected life of these limited partnerships is 0-15 years, and these investments typically cannot be redeemed prior to liquidation.
Fair Value Measurements at December 31, 2021: 
(in millions)December 31,
2021		Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other
Observable Inputs (Level 2)		Significant
Unobservable Inputs 
(Level 3)
Pension plan assets:
Cash$10.3 $9.7 $0.6 $— 
Equity securities
International equities0.5 0.5 — — 
Fixed income securities
Government387.3 — 387.3 — 
Corporate645.9 — 645.9 — 
Mutual Funds
U.S. multi-strategy128.4 128.4 — — 
International equities38.7 38.7 — — 
Private equity limited partnerships(3)
U.S. multi-strategy(1)
10.9 — — — 
International multi-strategy(2)
4.5 — — — 
Distressed opportunities0.1 — — — 
Real estate(3)
37.2 — — — 
Commingled funds(3)
Short-term money markets55.0 — — — 
U.S. equities195.9 — — — 
International equities111.7 — — — 
Fixed income349.1 — — — 
Pension plan assets subtotal$1,975.5 $177.3 $1,033.8 $— 
Other postretirement benefit plan assets:
Mutual funds
U.S. multi-strategy103.8 103.8 — — 
International equities24.4 24.4 — — 
Fixed income118.5 118.5 — — 
Commingled funds(3)
Short-term money markets5.8 — — — 
U.S. equities14.8 — — — 
International equities26.1 — — — 
Other postretirement benefit plan assets subtotal$293.4 $246.7 $— $— 
Due to brokers, net(4)
(1.8)— (1.8)— 
Receivables/payables0.3 — 0.3 — 
Accrued income/dividends8.0 8.0 — — 
Total pension and other postretirement benefit plan assets$2,275.4 $432.0 $1,032.3 $— 
(1)This class includes limited partnerships/fund of funds that invest in a diverse portfolio of private equity strategies, including buy-outs, venture capital, growth capital, special situations and secondary markets, primarily inside the United States. 
(2)This class includes limited partnerships/fund of funds that invest in diverse portfolio of private equity strategies, including buy-outs, venture capital, growth capital, special situations and secondary markets, primarily outside the United States.
(3)This class of investments is measured at fair value using the net asset value per share and has not been classified in the fair value hierarchy.
(4)This class represents pending trades with brokers.
The table below sets forth a summary of unfunded commitments, redemption frequency and redemption notice periods for certain investments that are measured at fair value using the net asset value per share for the year ended December 31, 2021:
(in millions)Fair ValueUnfunded CommitmentsRedemption FrequencyRedemption Notice Period
Commingled Funds
Short-term money markets$60.8 $— Daily1 day
U.S. equities210.7 — Daily
1 day -5 days
International equities137.8 — Monthly
10 days - 30 days
Fixed income349.1 — Daily3 days
Private Equity and Real Estate Limited Partnerships(1)
20.4 12.1 N/AN/A
Total$778.8 $12.1 
(1)Private equity and real estate limited partnerships typically call capital over a 3-5 year period and pay out distributions as the underlying investments are liquidated. The typical expected life of these limited partnerships is 0-15 years, and these investments typically cannot be redeemed prior to liquidation.
Schedule Of Reconciliation Of The Plan Funded Status The following table provides a reconciliation of the plans’ funded status and amounts reflected in our Consolidated Balance Sheets at December 31 based on a December 31 measurement date:
 Pension BenefitsOther Postretirement Benefits
(in millions)2022202120222021
Change in projected benefit obligation(1)
Benefit obligation at beginning of year$1,852.4 $2,058.4 $556.2 $590.8 
Service cost27.8 30.2 6.5 6.2 
Interest cost40.5 31.4 12.0 9.9 
Plan participants’ contributions— — 4.1 4.2 
Plan amendments0.2 — 2.1 0.1 
Actuarial gain(2)
(318.7)(68.7)(89.9)(14.8)
Benefits paid(174.8)(198.9)(42.3)(40.6)
Estimated benefits paid by incurred subsidy— — 0.3 0.4 
Projected benefit obligation at end of year$1,427.4 $1,852.4 $449.0 $556.2 
Change in plan assets
Fair value of plan assets at beginning of year$1,981.7 $2,117.7 $293.7 $286.4 
Actual return on plan assets(386.8)58.9 (51.9)23.9 
Employer contributions2.7 4.0 21.3 19.8 
Plan participants’ contributions— — 4.1 4.2 
Benefits paid(174.8)(198.9)(42.3)(40.6)
Fair value of plan assets at end of year$1,422.8 $1,981.7 $224.9 $293.7 
Funded Status at end of year$(4.6)$129.3 $(224.1)$(262.5)
Amounts recognized in the statement of financial position consist of:
Noncurrent assets18.3 159.3 — — 
Current liabilities(2.6)(2.8)(1.0)(1.0)
Noncurrent liabilities(20.3)(27.2)(223.1)(261.5)
Net amount recognized at end of year(3)
$(4.6)$129.3 $(224.1)$(262.5)
Amounts recognized in accumulated other comprehensive income or regulatory asset/liability(4)
Unrecognized prior service credit$0.4 $0.3 $(3.4)$(7.8)
Unrecognized actuarial loss564.2 438.0 64.0 88.5 
 Net amount recognized at end of year$564.6 $438.3 $60.6 $80.7 
(1)The change in benefit obligation for Pension Benefits represents the change in Projected Benefit Obligation while the change in benefit obligation for Other Postretirement Benefits represents the change in accumulated postretirement benefit obligation.
(2)The pension actuarial gain was primarily driven by the increase in discount rate. The postretirement benefit gain was also primarily driven by an increase in discount rates.
(3)We recognize our Consolidated Balance Sheets underfunded and overfunded status of our various defined benefit postretirement plans, measured as the difference between the fair value of the plan assets and the benefit obligation.
(4)We determined that for certain rate-regulated subsidiaries the future recovery of pension and other postretirement benefits costs is probable. These rate-regulated subsidiaries recorded regulatory assets and liabilities of $607.5 million and zero, respectively, as of December 31, 2022, and $512.1 million and zero, respectively, as of December 31, 2021 that would otherwise have been recorded to accumulated other comprehensive loss.
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
Information for pension plans with a projected benefit obligation in excess of plan assets:
December 31,
20222021
Accumulated Benefit Obligation$22.9 $30.0 
Funded Status
Projected Benefit Obligation22.9 30.0 
Funded Status of Underfunded Pension Plans at End of Year(1)
$(22.9)$(30.0)
(1)As of December 31, 2022 and 2021, only our nonqualified plans were underfunded. These plans have no assets as they are not funded until benefits are paid.
Information for pension plans with plan assets in excess of the projected benefit obligation:
December 31,
20222021
Accumulated Benefit Obligation$1,393.8 $1,804.3 
Funded Status
Projected Benefit Obligation1,404.5 1,822.4 
Fair Value of Plan Assets1,422.8 1,981.7 
Funded Status of Overfunded Pension Plans at End of Year$18.3 $159.3 
Schedule Of Expected Payments To Participants In Pension Plan The expected benefits are estimated based on the same assumptions used to measure our benefit obligation at the end of the year and include benefits attributable to the estimated future service of employees:
(in millions)Pension BenefitsOther
Postretirement Benefits		Federal
Subsidy Receipts
Year(s)
2023$150.5 $38.9 $0.4 
2024145.2 38.5 0.2 
2025141.2 37.8 0.2 
2026133.8 36.9 0.2 
2027128.1 36.4 0.2 
2028-2032563.2 172.0 0.9 
Components Of The Plans' Net Periodic Benefits Cost
The following table provides the components of the plans’ actuarially determined net periodic benefits cost for each of the three years ended December 31, 2022, 2021 and 2020:
 Pension BenefitsOther Postretirement
Benefits
(in millions)202220212020202220212020
Components of Net Periodic Benefit (Income) Cost(1)
Service cost$27.8 $30.2 $32.0 $6.5 $6.2 $6.6 
Interest cost40.5 31.4 51.6 12.0 9.9 15.4 
Expected return on assets(90.8)(101.6)(111.6)(16.2)(15.3)(14.4)
Amortization of prior service cost (credit)0.1 0.1 0.7 (2.2)(2.2)(2.1)
Recognized actuarial loss20.3 21.7 33.8 2.6 4.6 4.9 
Settlement/curtailment loss12.4 11.4 10.5 — — 1.5 
Total Net Periodic Benefits (Income) Cost$10.3 $(6.8)$17.0 $2.7 $3.2 $11.9 
(1)Service cost is presented in "Operation and maintenance" on the Statements of Consolidated Income (Loss). Non-service cost components are presented within "Other, net."
Schedule Of Significant Actuarial Assumptions In Determining Funded Status Plan
The following table provides the key assumptions that were used to calculate the pension and other postretirement benefits obligations for our various plans as of December 31:
 Pension BenefitsOther Postretirement  Benefits
  
2022202120222021
Weighted-average assumptions to Determine Benefit Obligation
Discount Rate5.14 %2.76 %5.17 %2.85 %
Rate of Compensation Increases4.00 %4.00 %N/AN/A
Interest Crediting Rates4.00 %4.00 %N/AN/A
Health Care Trend Rates
Trend for Next YearN/AN/A6.69 %6.20 %
Ultimate TrendN/AN/A4.75 %4.50 %
Year Ultimate Trend ReachedN/AN/A20322030
The following table provides the key assumptions that were used to calculate the net periodic benefits cost for our various plans:
 Pension Benefits Other Postretirement
Benefits
  
202220212020202220212020
Weighted-average Assumptions to Determine Net Periodic Benefit Cost
Discount rate - service cost3.08 %2.81 %3.39 %3.21 %3.00 %3.52 %
Discount rate - interest cost2.11 %1.57 %2.65 %2.24 %1.73 %2.76 %
Expected Long-Term Rate of Return on Plan Assets4.80 %5.20 %5.70 %5.72 %5.50 %5.67 %
Rate of Compensation Increases4.00 %4.00 %4.00 %N/AN/AN/A
Interest Crediting Rates4.00 %4.00 %4.00 %N/AN/AN/A
Schedule Of Changes In Plan Assets And Projected Benefit Obligations Recognized In Other Comprehensive Income
The following table provides other changes in plan assets and projected benefit obligations recognized in other comprehensive income or regulatory asset or liability:
  
Pension BenefitsOther Postretirement
Benefits
(in millions)2022202120222021
Other Changes in Plan Assets and Projected Benefit Obligations 
Recognized in Other Comprehensive Income or Regulatory Asset 
or Liability
Net prior service cost $0.2 $— $2.1 $0.1 
Net actuarial loss (gain) 158.9 (26.0)(21.8)(23.3)
Settlements/curtailments(12.4)(11.4)— — 
Less: amortization of prior service cost(0.1)(0.1)2.2 2.2 
Less: amortization of net actuarial loss(20.3)(21.7)(2.6)(4.6)
Total Recognized in Other Comprehensive Income or Regulatory 
Asset or Liability		$126.3 $(59.2)$(20.1)$(25.6)
Amount Recognized in Net Periodic Benefits Cost and Other 
Comprehensive Income or Regulatory Asset or Liability		$136.6 $(66.0)$(17.4)$(22.4)