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Pension and Other Postretirement Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]  
Estimated Future Benefit Payments [Table Text Block]
Estimated Future Benefit Payments
    Pension
Postretirement Health and Life
Millions
 
 
2020

$51.2


$8.6

2021

$50.7


$8.4

2022

$50.1


$8.2

2023

$49.8


$8.0

2024

$49.6


$8.0

Years 2025 – 2029

$239.3


$40.1



Defined Benefit Costs Recorded in Regulatory Long-Term Assets or Liabilities and Accumulated Other Comprehensive Income Expected to be Recognized over Next Fiscal Year [Table Text Block]
The pension and postretirement health and life costs recorded in regulatory long-term assets or liabilities and accumulated other comprehensive income expected to be recognized as a component of net pension and postretirement benefit costs for the year ending December 31, 2020, are as follows:
 
      Pension
Postretirement
Health and Life
Millions
 
 
Net Loss
$12.8
$1.0
Prior Service Credit
(0.2
)
(8.0
)
Total Pension and Postretirement Health and Life Cost (Credit)
$12.6
$(7.0)

Assumptions Used to Determine Benefit Obligation and Net Periodic Benefit Costs [Table Text Block]
Assumptions Used to Determine Benefit Obligation
As of December 31
2019
2018
Discount Rate
 
 
Pension
3.34 - 3.47%
4.39 - 4.53%
Postretirement Health and Life
3.45%
4.47%
Rate of Compensation Increase
3.70 - 4.10%
3.70 - 4.10%
Health Care Trend Rates
 
 
Trend Rate
5.00 - 6.20%
5.00 - 6.46%
Ultimate Trend Rate
4.50%
4.50%
Year Ultimate Trend Rate Effective
2038
2038

Assumptions Used to Determine Net Periodic Benefit Costs
Year Ended December 31
2019
2018
2017
Discount Rate
4.39 - 4.53%
3.81 - 3.96%
4.53 - 4.57%
Expected Long-Term Return on Plan Assets (a)
 
 
 
Pension
7.25%
7.50%
7.50%
Postretirement Health and Life
5.80 - 7.25%
6.00 - 7.50%
6.00 - 7.50%
Rate of Compensation Increase
3.70 - 4.10%
3.70 - 4.10%
3.70 - 4.30%

(a)
The expected long-term rates of return used to determine net periodic benefit expense for 2020 have been reduced to 6.75 percent for pension expense and 5.40 percent to 6.75 percent for postretirement health and life expense.

Plan Asset Actual and Target Allocations [Table Text Block]
Following are the current targeted allocations as of December 31, 2019:
Plan Asset Target Allocations
    Pension
Postretirement
Health and Life (a)
Equity Securities
32
%
60
%
Fixed Income Securities
56
%
37
%
Private Equity
6
%

Real Estate
6
%
3
%
 
100
%
100
%
(a)
Includes VEBAs and irrevocable grantor trusts.
Actual Plan Asset Allocations
Pension
Postretirement
Health and Life (a)
 
2019
2018
2019
2018
Equity Securities
34
%
32
%
66
%
62
%
Fixed Income Securities
62
%
60
%
33
%
34
%
Private Equity
1
%
5
%
1
%
4
%
Real Estate
3
%
3
%


 
100
%
100
%
100
%
100
%
(a)
Includes VEBAs and irrevocable grantor trusts.

Pension [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Obligation and Funded Status [Table Text Block]
Pension Obligation and Funded Status
As of December 31
2019

2018

Millions
 
 
Accumulated Benefit Obligation

$812.0


$713.7

Change in Benefit Obligation
 

 

Obligation, Beginning of Year

$747.0


$793.2

Service Cost
9.3

11.0

Interest Cost
31.9

29.6

Plan Amendments

(1.5
)
Plan Curtailments

(6.9
)
Actuarial (Gain) Loss
98.3

(53.0
)
Benefits Paid
(53.4
)
(49.5
)
Participant Contributions
20.9

24.1

Obligation, End of Year

$854.0


$747.0

Change in Plan Assets
 

 

Fair Value, Beginning of Year

$598.0


$628.2

Actual Return on Plan Assets
122.1

(21.2
)
Employer Contribution (a)
32.9

40.5

Benefits Paid
(53.4
)
(49.5
)
Fair Value, End of Year

$699.6


$598.0

Funded Status, End of Year
$(154.4)
$(149.0)
 
 
 
Net Pension Amounts Recognized in Consolidated Balance Sheet Consist of:
 

 

Current Liabilities
$(1.6)
$(1.6)
Non-Current Liabilities
$(152.8)
$(147.4)

(a)
Includes Participant Contributions noted above.

Amounts Recognized in Consolidated Balance Sheet [Table Text Block]
Reconciliation of Net Pension Amounts Recognized in Consolidated Balance Sheet
As of December 31
2019

2018

Millions
 
 
Net Loss
$(243.4)
$(230.5)
Prior Service Credit
1.3

1.4

Accumulated Contributions in Excess of Net Periodic Benefit Cost (Prepaid Pension Asset)
87.7

80.1

Total Net Pension Amounts Recognized in Consolidated Balance Sheet
$(154.4)
$(149.0)

Components of Net Periodic Cost [Table Text Block]
Components of Net Periodic Pension Cost
Year Ended December 31
2019

2018

2017

Millions
 
 
 
Service Cost

$9.3


$11.0


$10.2

Non-Service Cost Components (a)
 
 
 
Interest Cost
31.9

29.6

32.5

Expected Return on Plan Assets
(44.2
)
(44.4
)
(42.4
)
Amortization of Loss
7.5

11.4

9.9

Amortization of Prior Service Credit
(0.1
)
(0.1
)

Net Pension Cost

$4.4


$7.5


$10.2


(a)
These components of net periodic pension cost are included in the line item “Other” under Other Income (Expense) on the Consolidated Statement of Income.
Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block]
Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets
As of December 31
2019

2018

Millions
 
 
Projected Benefit Obligation

$854.0


$747.0

Accumulated Benefit Obligation

$812.0


$713.7

Fair Value of Plan Assets

$699.6


$598.0


Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income and Regulatory Assets or Liabilities [Table Text Block]
Other Changes in Pension Plan Assets and Benefit Obligations Recognized in
Other Comprehensive Income and Regulatory Assets or Liabilities
Year Ended December 31
2019

2018

Millions
 
 
Net Loss
$20.4
$5.8
Amortization of Prior Service Credit
0.1

0.1

Prior Service Credit Arising During the Period

(1.6
)
Amortization of Loss
(7.5
)
(11.4
)
Total Recognized in Other Comprehensive Income and Regulatory Assets or Liabilities
$13.0
$(7.1)

Recurring Fair Value Measures [Table Text Block]
 
Fair Value as of December 31, 2019
Recurring Fair Value Measures
Level 1
Level 2
Level 3
Total
Millions
 
 
 
 
Assets:
 
 
 
 
Equity Securities:
 
 
 
 
U.S. Large-cap (a)


$78.5



$78.5

U.S. Mid-cap Growth (a)

35.9


35.9

U.S. Small-cap (a)

34.6


34.6

International

92.1


92.1

Fixed Income Securities (a)

425.4


425.4

Cash and Cash Equivalents

$7.1



7.1

Private Equity Funds



$8.0

8.0

Real Estate


18.0

18.0

Total Fair Value of Assets

$7.1


$666.5


$26.0


$699.6

(a)
The underlying investments consist of actively-managed funds managed to achieve the returns of certain U.S. equity and fixed income securities indexes.
 
Fair Value as of December 31, 2018
Recurring Fair Value Measures
Level 1
Level 2
Level 3
Total
Millions
 
 
 
 
Assets:
 
 
 
 
Equity Securities:
 
 
 
 
U.S. Large-cap (a)


$59.1



$59.1

U.S. Mid-cap Growth (a)

28.1


28.1

U.S. Small-cap (a)

27.2


27.2

International

75.8


75.8

Fixed Income Securities (a)

352.9


352.9

Cash and Cash Equivalents

$6.3



6.3

Private Equity Funds



$27.8

27.8

Real Estate


20.8

20.8

Total Fair Value of Assets

$6.3


$543.1


$48.6


$598.0

(a)
The underlying investments consist of actively-managed funds managed to achieve the returns of certain U.S. equity and fixed income securities indexes.

Recurring Fair Value Measures - Activity in Level 3 [Table Text Block]
Recurring Fair Value Measures
 
 
 
Activity in Level 3
 
Private Equity Funds
   Real Estate
Millions
 
 
 
Balance as of December 31, 2017
 

$33.2


$25.5

Actual Return on Plan Assets
 
2.8

0.7

Purchases, Sales, and Settlements – Net
 
(8.2
)
(5.4
)
Balance as of December 31, 2018
 

$27.8


$20.8


Recurring Fair Value Measures
 
 
Activity in Level 3
Private Equity Funds
    Real Estate
Millions
 
 
Balance as of December 31, 2018

$27.8


$20.8

Actual Return on Plan Assets
0.4

(1.3
)
Purchases, Sales, and Settlements – Net
(20.2
)
(1.5
)
Balance as of December 31, 2019

$8.0


$18.0


Postretirement Health and Life [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Obligation and Funded Status [Table Text Block]
Postretirement Health and Life Obligation and Funded Status
As of December 31
2019

2018

Millions
 
 
Change in Benefit Obligation
 
 
Obligation, Beginning of Year

$176.0


$190.1

Service Cost
3.9

4.7

Interest Cost
7.3

7.1

Actuarial (Gain) Loss
10.5

(15.8
)
Benefits Paid
(14.7
)
(11.6
)
Participant Contributions
3.5

3.6

Plan Amendments (a)
(34.6
)
(2.1
)
Plan Curtailments
(2.1
)

Obligation, End of Year

$149.8


$176.0

Change in Plan Assets
 
 
Fair Value, Beginning of Year

$154.3


$171.0

Actual Return on Plan Assets
29.5

(9.6
)
Employer Contribution
1.1

1.0

Participant Contributions
3.5

3.6

Benefits Paid
(14.7
)
(11.7
)
Fair Value, End of Year

$173.7


$154.3

Funded Status, End of Year
$23.9
$(21.7)
 
 
 
Net Postretirement Health and Life Amounts Recognized in Consolidated Balance Sheet Consist of:
 
 
Non-Current Assets
$37.5
$0.4
Current Liabilities
$(0.7)
$(1.0)
Non-Current Liabilities
$(12.9)
$(21.1)

(a)
Plan design changes under the other postretirement benefit plans resulted in a decrease to the benefit obligation of $34.6 million in 2019.
Amounts Recognized in Consolidated Balance Sheet [Table Text Block]
Reconciliation of Net Postretirement Health and Life Amounts Recognized in Consolidated Balance Sheet
As of December 31
2019

2018

Millions
 
 
Net Loss (a)
$(16.0)
$(25.0)
Prior Service Credit
36.3

4.6

Accumulated Net Periodic Benefit Cost in Excess of Contributions (a)
3.6

(1.3
)
Total Net Postretirement Health and Life Amounts Recognized in Consolidated Balance Sheet
$23.9
$(21.7)
(a)
Excludes gains, losses and contributions associated with irrevocable grantor trusts.
Components of Net Periodic Cost [Table Text Block]
Components of Net Periodic Postretirement Health and Life Cost
Year Ended December 31
2019

2018

2017

Millions
 
 
 
Service Cost

$3.9


$4.7


$4.4

Non-Service Cost Components (a)
 
 
 
Interest Cost
7.3

7.1

7.7

Expected Return on Plan Assets
(10.5
)
(10.9
)
(10.5
)
Amortization of Loss
0.5

0.8

0.3

Amortization of Prior Service Credit
(2.8
)
(2.1
)
(2.0
)
Effect of Plan Curtailment
(2.1
)


Net Postretirement Health and Life Credit
$(3.7)
$(0.4)
$(0.1)

(a)
These components of net periodic postretirement health and life cost are included in the line item “Other” under Other Income (Expense) on the Consolidated Statement of Income.
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income and Regulatory Assets or Liabilities [Table Text Block]
Other Changes in Postretirement Benefit Plan Assets and Benefit Obligations
Recognized in Other Comprehensive Income and Regulatory Assets or Liabilities
Year Ended December 31
2019

2018

Millions
 

 
Net (Gain) Loss
$(10.6)

$4.7

Prior Service Credit Arising During the Period
(34.6
)
(2.1
)
Amortization of Prior Service Credit
2.8

2.1

Amortization of Loss
(0.5
)
(0.8
)
Total Recognized in Other Comprehensive Income and Regulatory Assets or Liabilities
$(42.9)
$3.9

Unrecognized Postretirement Health and Life Costs [Table Text Block]
The postretirement health and life costs that are reported as a component within the Consolidated Balance Sheet, reflected in regulatory long-term assets or liabilities and accumulated other comprehensive income, consist of the following:
Unrecognized Postretirement Health and Life Costs
As of December 31
2019

2018

Millions
 
 
Net Loss
$16.0
$25.0
Prior Service Credit
(36.3
)
(4.6
)
Total Unrecognized Postretirement Health and Life Cost
$(20.3)
$20.4

Sensitivity of a One Percent Change in Health Care Trend Rates [Table Text Block]
Sensitivity of a One Percent Change in Health Care Trend Rates
 
One Percent
Increase
One Percent
Decrease
Millions
 
 
Effect on Total of Postretirement Health and Life Service and Interest Cost

$1.8

$(1.4)
Effect on Postretirement Health and Life Obligation

$16.5

$(13.6)

Recurring Fair Value Measures [Table Text Block]
 
Fair Value as of December 31, 2018
Recurring Fair Value Measures
Level 1
Level 2
Level 3
Total
Millions
 
 
 
 
Assets:
 
 
 
 
Equity Securities: (a)
 
 
 
 
U.S. Large-cap

$29.1




$29.1

U.S. Mid-cap Growth
21.2



21.2

U.S. Small-cap
12.9



12.9

International
30.4



30.4

Fixed Income Securities:
 

 

 

 

Mutual Funds
49.6



49.6

Debt Securities


$4.0


4.0

Cash and Cash Equivalents
0.6



0.6

Private Equity Funds



$6.5

6.5

Total Fair Value of Assets

$143.8


$4.0


$6.5


$154.3


(a)
The underlying investments consist of mutual funds (Level 1). 
 
Fair Value as of December 31, 2019
Recurring Fair Value Measures
Level 1
Level 2
Level 3
Total
Millions
 
 
 
 
Assets:
 
 
 
 
Equity Securities: (a)
 
 
 
 
U.S. Large-cap

$33.6




$33.6

U.S. Mid-cap Growth
27.7



27.7

U.S. Small-cap
14.3



14.3

International
37.8



37.8

Fixed Income Securities:
 

 

 

 

Mutual Funds
53.4



53.4

Debt Securities


$4.1


4.1

Cash and Cash Equivalents
1.1



1.1

Private Equity Funds



$1.7

1.7

Total Fair Value of Assets

$167.9


$4.1


$1.7


$173.7


(a)
The underlying investments consist of mutual funds (Level 1).
Recurring Fair Value Measures - Activity in Level 3 [Table Text Block]
Recurring Fair Value Measures
 
Activity in Level 3
Private Equity Funds
Millions
 
Balance as of December 31, 2018

$6.5

Actual Return on Plan Assets
0.7

Purchases, Sales, and Settlements – Net
(5.5
)
Balance as of December 31, 2019

$1.7


Recurring Fair Value Measures
 
Activity in Level 3
Private Equity Funds
Millions
 
Balance as of December 31, 2017

$8.2

Actual Return on Plan Assets
0.9

Purchases, Sales, and Settlements – Net
(2.6
)
Balance as of December 31, 2018

$6.5