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Pension and other post-retirement benefits (Tables)
 12 Months Ended
Dec. 31, 2018
Retirement Benefits [Abstract]  
Benefit Obligations Fair Value of Plan Assets and Funded Status
The following table sets forth the projected benefit obligations, fair value of plan assets, and funded status of the Company’s plans as of December 31:
 
Pension benefits
 
OPEB
 
2018
 
2017
 
2018
 
2017
Change in projected benefit obligation
 
 
 
 
 
 
 
Projected benefit obligation, beginning of year
$
523,743

 
$
247,246

 
$
176,975

 
$
61,888

Projected benefit obligation assumed from business combination
—

 
256,486

 
—

 
97,761

Service cost
15,481

 
14,747

 
5,791

 
4,838

Interest cost
18,717

 
20,191

 
6,727

 
6,642

Actuarial (gain) loss
(29,845
)
 
35,696

 
(14,800
)
 
10,263

Contributions from retirees
—

 
—

 
1,920

 
1,821

Gain on curtailment
(1,875
)
 
(849
)
 
—

 
(4
)
Benefits paid
(49,429
)
 
(49,774
)
 
(8,288
)
 
(6,234
)
Projected benefit obligation, end of year
$
476,792

 
$
523,743

 
$
168,325

 
$
176,975

Change in plan assets
 
 
 
 
 
 
 
Fair value of plan assets, beginning of year
403,945

 
176,040

 
130,487

 
21,701

Plan assets acquired in business combination
—

 
184,510

 
—

 
91,532

Actual return on plan assets
(36,987
)
 
63,250

 
(10,603
)
 
19,733

Employer contributions
21,570

 
29,919

 
2,068

 
2,068

Benefits paid
(49,429
)
 
(49,774
)
 
(6,410
)
 
(4,547
)
Fair value of plan assets, end of year
$
339,099

 
$
403,945

 
$
115,542

 
$
130,487

Unfunded status
$
(137,693
)
 
$
(119,798
)
 
$
(52,783
)
 
$
(46,488
)
Amounts recognized in the consolidated balance sheets consists of:
 
 
 
 
 
 
 
Non-current assets
—

 
—

 
3,161

 
3,936

Current liabilities
(872
)
 
(861
)
 
(850
)
 
(1,172
)
Non-current liabilities
(136,821
)
 
(118,937
)
 
(55,094
)
 
(49,252
)
Net amount recognized
$
(137,693
)
 
$
(119,798
)
 
$
(52,783
)
 
$
(46,488
)
Information for pension and OPEB plans with an accumulated benefit obligation in excess of plan assets:
 
Pension
OPEB
 
2018
2017
2018
2017
Accumulated benefit obligation
439,458

462,943

163,375

171,175

Fair value of plan assets
339,099

376,276

107,430

121,561

Information for pension and OPEB plans with a projected benefit obligation in excess of plan assets:
 
Pension
OPEB
 
2018
2017
2018
2017
Projected benefit obligation
476,791

523,743

163,375

171,175

Fair value of plan assets
339,099

403,945

107,430

121,561
Amounts Recognized in Accumulated Other Comprehensive loss
Change in AOCI (before tax)
Pension
 
OPEB
 
Actuarial losses (gains)
 
Past service gains
 
Actuarial losses (gains)
 
Past service gains
Balance, January 1, 2017
$
27,572

 
$
(5,617
)
 
$
(3,861
)
 
$
(732
)
Additions to AOCI
(2,652
)
 
—

 
(3,066
)
 
—

Reclassification to regulatory accounts (note 7(b))
1,136

 
—

 
3,515

 
—

Amortization in current period
(928
)
 
622

 
230

 
262

Balance, December 31, 2017
$
25,128

 
$
(4,995
)
 
$
(3,182
)
 
$
(470
)
Additions to AOCI
34,916

 
(1,875
)
 
3,254

 
—

Reclassification to regulatory accounts (note 7(b))
(22,166
)
 
—

 
(14,232
)
 
—

Amortization in current period
(1,074
)
 
649

 
272

 
262

Gain (loss) on plan settlements
(2,547
)
 
—

 
—

 
—

Balance, December 31, 2018
$
34,257

 
$
(6,221
)
 
$
(13,888
)
 
$
(208
)
Weighted Average Assumptions Used to Determine Net Benefit Obligation
Weighted average assumptions used to determine net benefit obligation for 2018 and 2017 were as follows: 
 
Pension benefits
 
OPEB
 
2018
 
2017
 
2018
 
2017
Discount rate
4.19
%
 
3.43
%
 
4.26
%
 
3.60
%
Interest crediting rate (for cash balance plans)
4.43
%
 
4.50
%
 
N/A

 
N/A

Rate of compensation increase
4.00
%
 
3.00
%
 
N/A

 
N/A

Health care cost trend rate
 
 
 
 
 
 
 
Before age 65
 
 
 
 
6.25
%
 
6.25
%
Age 65 and after
 
 
 
 
6.25
%
 
6.25
%
Assumed ultimate medical inflation rate
 
 
 
 
4.75
%
 
4.75
%
Year in which ultimate rate is reached
 
 
 
 
2031

 
2024
Effect of One Percent Change in Assumed Health Care Cost Trend Rate (HCCTR)
Weighted average assumptions used to determine net benefit cost for 2018 and 2017 were as follows: 
 
Pension benefits
 
OPEB
 
2018
 
2017
 
2018
 
2017
Discount rate
3.57
%
 
4.01
%
 
3.60
%
 
4.12
%
Expected return on assets
7.13
%
 
7.01
%
 
6.52
%
 
3.88
%
Rate of compensation increase
3.00
%
 
3.00
%
 
N/A

 
N/A

Health care cost trend rate
 
 
 
 
 
 
 
Before Age 65
 
 
 
 
6.25
%
 
6.25
%
Age 65 and after
 
 
 
 
6.25
%
 
6.25
%
Assumed Ultimate Medical Inflation Rate
 
 
 
 
4.75
%
 
4.75
%
Year in which Ultimate Rate is reached
 
 
 
 
2024

 
2023
Components of Net Benefit Costs For Pension Plans and OPEB Recorded as Part of Administrative Expenses
 
Pension benefits
 
OPEB
 
2018
 
2017
 
2018
 
2017
Service cost
$
15,481

 
$
14,747

 
$
5,791

 
$
4,838

Non-service costs
 
 
 
 
 
 
 
Interest cost
18,717

 
20,191

 
6,727

 
6,642

Expected return on plan assets
(27,820
)
 
(24,842
)
 
(7,451
)
 
(6,404
)
Amortization of net actuarial loss (gain)
1,119

 
1,140

 
(272
)
 
(230
)
Amortization of prior service credits
(649
)
 
(622
)
 
(262
)
 
(262
)
Amortization of regulatory assets/liability
9,823

 
13,031

 
3,982

 
391

Net benefit cost
$
16,671

 
$
23,645

 
$
8,515

 
$
4,975
Target Asset Allocation
The Company’s target asset allocation is as follows:
Asset Class
 
Target (%)
 
Range (%)
Equity securities
 
69
%
 
49% - 78%
Debt securities
 
31
%
 
22% - 51%
 
 
100
%
 
 
The fair values of investments as of December 31, 2018, by asset category, are as follows:
Asset Class
 
Level 1
 
Percentage
Equity securities
 
$
338,946

 
75
%
Debt securities
 
115,695

 
25
%
Other
 
—

 
—
%
 
 
$
454,641

 
100
%
Expected Benefit Payments
The expected benefit payments over the next ten years are as follows: 
 
2019
 
2020
 
2021
 
2022
 
2023
 
2024—2028
Pension plan
$
31,101

 
$
29,366

 
$
32,508

 
$
33,415

 
$
35,111

 
$
183,338

OPEB
6,077

 
6,686

 
7,172

 
7,731

 
8,241

 
47,119