XML 48 R42.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Employee Benefit Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2012
Schedule of Amounts Not Yet Reflected in Net Periodic Benefit Cost and Included in Accumulated Other Comprehensive Income Loss or Regulatory Assets | The following table presents the amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive income/loss or as a regulatory asset as of December 31, 2012:
(in thousands) |  | Chesapeake Pension Plan |  |  | FPU Pension Plan |  |  | Chesapeake SERP |  |  | Chesapeake Postretirement Plan |  |  | FPU Medical Plan |  |  | Total |
Prior service cost (credit) |  |  | ($ 1) |  |  | $ | — |  |  | $ | 46 |  |  |  | ($986) |  |  | $ | — |  |  |  | ($941) |
Net loss |  |  | 4,379 |  |  |  | 15,517 |  |  |  | 858 |  |  |  | 1,144 |  |  |  | 18 |  |  |  | 21,916 |
Total |  | $ | 4,378 |  |  | $ | 15,517 |  |  | $ | 904 |  |  | $ | 158 |  |  | $ | 18 |  |  | $ | 20,975 |
Accumulated other comprehesive loss pre-tax(1) |  | $ | 4,378 |  |  | $ | 2,948 |  |  | $ | 904 |  |  | $ | 158 |  |  | $ | 3 |  |  | $ | 8,391 |
Post-merger regulatory asset |  |  | — |  |  |  | 12,569 |  |  |  | — |  |  |  | — |  |  |  | 15 |  |  |  | 12,584 |
Subtotal |  |  | 4,378 |  |  |  | 15,517 |  |  |  | 904 |  |  |  | 158 |  |  |  | 18 |  |  |  | 20,975 |
Pre-merger regulatory asset |  |  | — |  |  |  | 5,109 |  |  |  | — |  |  |  | — |  |  |  | 62 |  |  |  | 5,171 |
Total unrecognized cost |  | $ | 4,378 |  |  | $ | 20,626 |  |  | $ | 904 |  |  | $ | 158 |  |  | $ | 80 |  |  | $ | 26,146 |
(1) | The total amount of accumulated other comprehensive loss recorded on our consolidated balance sheet as of December 31, 2012 is net of income tax benefits of $3.3 million.
Amounts in Accumulated Other Comprehensive Income/Loss and Regulatory Asset | The amounts in accumulated other comprehensive income/loss and regulatory asset for our pension and postretirement benefits plans that are expected to be recognized as a component of net benefit cost in 2013 are set forth in the following table:
(in thousands) |  | Chesapeake Pension Plan |  |  | FPU Pension Plan |  |  | Chesapeake SERP |  |  | Chesapeake Postretirement Plan |  |  | FPU Medical Plan |  |  | Total |
Prior service cost (credit) |  |  | ($1) |  |  | $ | — |  |  | $ | 19 |  |  |  | ($77) |  |  | $ | — |  |  |  | ($59) |
Net loss |  | $ | 308 |  |  | $ | 332 |  |  | $ | 64 |  |  | $ | 74 |  |  | $ | — |  |  | $ | 778 |
Amortization of pre-merger regulatory asset |  | $ | — |  |  | $ | 761 |  |  | $ | — |  |  | $ | — |  |  | $ | 8 |  |  | $ | 769 |
Schedule of Assets by Investment Type | The following schedule summarizes the assets of the Chesapeake Pension Plan and the FPU Pension Plan, by investment type, at December 31, 2012, 2011 and 2010:
|  | Chesapeake Pension Plan |  |  | FPU Pension Plan |
At December 31, |  | 2012 |  |  | 2011 |  |  | 2010 |  |  | 2012 |  |  | 2011 |  |  | 2010 |
Asset Category |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  |  | 52.07 | % |  |  | 51.75 | % |  |  | 64.33 | % |  |  | 52.81 | % |  |  | 51.98 | % |  |  | 60.00 | %
Debt securities |  |  | 38.00 | % |  |  | 37.88 | % |  |  | 30.60 | % |  |  | 38.04 | % |  |  | 38.05 | % |  |  | 35.00 | %
Other |  |  | 9.93 | % |  |  | 10.37 | % |  |  | 5.07 | % |  |  | 9.15 | % |  |  | 9.97 | % |  |  | 5.00 | %
Total |  |  | 100.00 | % |  |  | 100.00 | % |  |  | 100.00 | % |  |  | 100.00 | % |  |  | 100.00 | % |  |  | 100.00 | %
Schedule of Asset Allocation Strategy | The following allocation range of asset classes is intended to produce a rate of return sufficient to meet the Plans’ goals and objectives:
Asset Allocation Strategy |
Asset Class |  | Minimum Allocation Percentage |  |  | Maximum Allocation Percentage |
Domestic Equities (Large Cap, Mid Cap and Small Cap) |  |  | 14 | % |  |  | 32 | %
Foreign Equities (Developed and Emerging Markets) |  |  | 13 | % |  |  | 25 | %
Fixed Income (Inflation Bond and Taxable Fixed) |  |  | 26 | % |  |  | 40 | %
Alternative Strategies (Long/Short Equity and Hedge Fund of Funds) |  |  | 6 | % |  |  | 14 | %
Diversifying Assets (High Yield Fixed Income, Commodities, and Real Estate) |  |  | 7 | % |  |  | 19 | %
Cash |  |  | 0 | % |  |  | 5 | %
Summary of Pension Plan Assets | At December 31, 2012, the assets of the Chesapeake Pension Plan and the FPU Pension Plan were comprised of the following investments:
|  | Fair Value Measurement Hierarchy |  |  |  |
Asset Category |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Large Cap (1) |  | $ | 3,504 |  |  | $ | 3,443 |  |  | $ | — |  |  | $ | 6,947 |
U.S. Mid Cap (1) |  |  | — |  |  |  | 3,078 |  |  |  | — |  |  |  | 3,078 |
U.S. Small Cap (1) |  |  | — |  |  |  | 1,523 |  |  |  | — |  |  |  | 1,523 |
International (2) |  |  | 10,019 |  |  |  | — |  |  |  | — |  |  |  | 10,019 |
Alternative Strategies (3) |  |  | 4,978 |  |  |  | — |  |  |  | — |  |  |  | 4,978 |
|  |  | 18,501 |  |  |  | 8,044 |  |  |  | — |  |  |  | 26,545 |
Debt securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Inflation Protected (4) |  |  | 2,507 |  |  |  | — |  |  |  | — |  |  |  | 2,507 |
Fixed income (5) |  |  | — |  |  |  | 14,109 |  |  |  | — |  |  |  | 14,109 |
High Yield (5) |  |  | — |  |  |  | 2,547 |  |  |  | — |  |  |  | 2,547 |
|  |  | 2,507 |  |  |  | 16,656 |  |  |  | — |  |  |  | 19,163 |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commodities (6) |  |  | 1,918 |  |  |  | — |  |  |  | — |  |  |  | 1,918 |
Real Estate (7) |  |  | 2,048 |  |  |  | — |  |  |  | — |  |  |  | 2,048 |
Guaranteed deposit (8) |  |  | — |  |  |  | — |  |  |  | 710 |  |  |  | 710 |
|  |  | 3,966 |  |  |  | — |  |  |  | 710 |  |  |  | 4,676 |
Total Pension Plan Assets |  | $ | 24,974 |  |  | $ | 24,700 |  |  | $ | 710 |  |  | $ | 50,384 |
(1) | Includes funds that invest primarily in United States common stocks.
(2) | Includes funds that invest primarily in foreign equities and emerging markets equities.
(3) | Includes funds that actively invest in both equity and debt securities, funds that sell short securities and funds that provide long-term capital appreciation. The funds may invest in debt securities below investment grade.
(4) | Includes funds that invest primarily in inflation-indexed bonds issued by the U.S. government.
(5) | Includes funds that invest in investment grade and fixed income securities.
(6) | Includes funds that invest primarily in commodity-linked derivative instruments and fixed income securities.
(7) | Includes funds that invest primarily in real estate.
(8) | Includes investment in a group annuity product issued by an insurance company.
At December 31, 2011, the assets of the Chesapeake Pension Plan and the FPU Pension Plan were comprised of the following investments:
|  | Fair Value Measurement Hierarchy |  |  |  |
Asset Category |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Large Cap (1) |  | $ | 3,146 |  |  | $ | 3,151 |  |  | $ | — |  |  | $ | 6,297 |
U.S. Mid Cap (1) |  |  | — |  |  |  | 2,683 |  |  |  | — |  |  |  | 2,683 |
U.S. Small Cap (1) |  |  | — |  |  |  | 1,341 |  |  |  | — |  |  |  | 1,341 |
International (2) |  |  | 8,563 |  |  |  | — |  |  |  | — |  |  |  | 8,563 |
Alternative Strategies (3) |  |  | 4,489 |  |  |  | — |  |  |  | — |  |  |  | 4,489 |
|  |  | 16,198 |  |  |  | 7,175 |  |  |  | — |  |  |  | 23,373 |
Debt securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Inflation Protected (4) |  |  | 2,237 |  |  |  | — |  |  |  | — |  |  |  | 2,237 |
Fixed income (5) |  |  | — |  |  |  | 12,617 |  |  |  | — |  |  |  | 12,617 |
High Yield (5) |  |  | — |  |  |  | 2,256 |  |  |  | — |  |  |  | 2,256 |
|  |  | 2,237 |  |  |  | 14,873 |  |  |  | — |  |  |  | 17,110 |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commodities (6) |  |  | 1,789 |  |  |  | — |  |  |  | — |  |  |  | 1,789 |
Real Estate (7) |  |  | 1,797 |  |  |  | — |  |  |  | — |  |  |  | 1,797 |
Guaranteed deposit (8) |  |  | — |  |  |  | — |  |  |  | 897 |  |  |  | 897 |
Other |  |  | 32 |  |  |  | — |  |  |  | — |  |  |  | 32 |
|  |  | 3,618 |  |  |  | — |  |  |  | 897 |  |  |  | 4,515 |
Total Pension Plan Assets |  | $ | 22,053 |  |  | $ | 22,048 |  |  | $ | 897 |  |  | $ | 44,998 |
(1) | Includes funds that invest primarily in United States common stocks.
(2) | Includes funds that invest primarily in foreign equities and emerging markets equities.
(3) | Includes funds that actively invest in both equity and debt securities, funds that sell short securities and funds that provide long-term capital appreciation. The funds may invest in debt securities below investment grade.
(4) | Includes funds that invest primarily in inflation-indexed bonds issued by the U.S. government.
(5) | Includes funds that invest in investment grade and fixed income securities.
(6) | Includes funds that invest primarily in commodity-linked derivative instruments and fixed income securities.
(7) | Includes funds that invest primarily in real estate.
(8) | Includes investment in a group annuity product issued by an insurance company.
Summary of Changes in Fair Value of Level 3 Investments | The following table sets forth the summary of the changes in the fair value of Level 3 investments for the years ended December 31, 2012 and 2011:
At December 31, |  | 2012 |  |  | 2011 |
(in thousands) |  |  |  |  |  |
Balance, beginning of year |  | $ | 897 |  |  | $ | — |
Purchases |  |  | 79 |  |  |  | 897 |
Transfers in |  |  | 3,620 |  |  |  | — |
Disbursements |  |  | (3,902 | ) |  |  | — |
Investment Income |  |  | 16 |  |  |  | — |
Balance, end of year |  | $ | 710 |  |  | $ | 897 |
Schedule of Estimated Future Benefit Payments | The schedule below shows the estimated future benefit payments for each of the plans previously described:
|  | Chesapeake Pension Plan(1) |  |  | FPU Pension Plan(1) |  |  | Chesapeake SERP(2) |  |  | Chesapeake Postretirement Plan(2) |  |  | FPU Medical Plan(2) |
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2013 |  | $ | 564 |  |  | $ | 2,816 |  |  | $ | 88 |  |  | $ | 97 |  |  | $ | 258 |
2014 |  | $ | 496 |  |  | $ | 2,881 |  |  | $ | 86 |  |  | $ | 99 |  |  | $ | 241 |
2015 |  | $ | 628 |  |  | $ | 2,930 |  |  | $ | 136 |  |  | $ | 101 |  |  | $ | 221 |
2016 |  | $ | 576 |  |  | $ | 2,974 |  |  | $ | 143 |  |  | $ | 98 |  |  | $ | 183 |
2017 |  | $ | 1,194 |  |  | $ | 3,006 |  |  | $ | 141 |  |  | $ | 97 |  |  | $ | 147 |
Years 2018 through 2022 |  | $ | 3,945 |  |  | $ | 16,037 |  |  | $ | 654 |  |  | $ | 451 |  |  | $ | 441 |
(1) | The pension plan is funded; therefore, benefit payments are expected to be paid out of the plan assets.
(2) | Benefit payments are expected to be paid out of our general funds.
Pension Plans, Defined Benefit [Member] |
Schedule of Funded Status of Benefit Obligation and Plan Assets | The following schedule sets forth the funded status at December 31, 2012 and 2011:
|  | Chesapeake Pension Plan |  |  | FPU Pension Plan |
At December 31, |  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Change in benefit obligation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Benefit obligation — beginning of year |  | $ | 11,672 |  |  | $ | 11,760 |  |  | $ | 57,999 |  |  | $ | 52,478 |
Interest cost |  |  | 458 |  |  |  | 520 |  |  |  | 2,577 |  |  |  | 2,695 |
Actuarial loss |  |  | 726 |  |  |  | 941 |  |  |  | 6,915 |  |  |  | 5,403 |
Benefits paid |  |  | (923 | ) |  |  | (705 | ) |  |  | (2,979 | ) |  |  | (2,577 | )
Effect of settlement |  |  | — |  |  |  | (844 | ) |  |  | — |  |  |  | — |
Benefit obligation — end of year |  |  | 11,933 |  |  |  | 11,672 |  |  |  | 64,512 |  |  |  | 57,999 |
Change in plan assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets — beginning of year |  |  | 7,162 |  |  |  | 7,787 |  |  |  | 37,836 |  |  |  | 40,201 |
Actual return on plan assets |  |  | 849 |  |  |  | (124 | ) |  |  | 4,526 |  |  |  | (1,101 | )
Employer contributions |  |  | 1,342 |  |  |  | 1,048 |  |  |  | 2,571 |  |  |  | 1,313 |
Benefits paid |  |  | (923 | ) |  |  | (705 | ) |  |  | (2,979 | ) |  |  | (2,577 | )
Effect of settlement |  |  | — |  |  |  | (844 | ) |  |  | — |  |  |  | — |
Fair value of plan assets — end of year |  |  | 8,430 |  |  |  | 7,162 |  |  |  | 41,954 |  |  |  | 37,836 |
Reconciliation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Funded status |  |  | (3,503 | ) |  |  | (4,510 | ) |  |  | (22,558 | ) |  |  | (20,163 | )
Accrued pension cost |  |  | ($3,503 | ) |  |  | ($4,510 | ) |  |  | ($22,558 | ) |  |  | ($20,163 | )
Assumptions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 3.50 | % |  |  | 4.25 | % |  |  | 3.75 | % |  |  | 4.50 | %
Expected return on plan assets |  |  | 6.00 | % |  |  | 6.00 | % |  |  | 7.00 | % |  |  | 7.00 | %
Component of Net Periodic Pension Cost (Benefit) | Net periodic pension cost (benefit) for the plans for 2012, 2011 and 2010 include the components shown below:
|  | Chesapeake |  |  | FPU |
|  | Pension Plan |  |  | Pension Plan |
For the Years Ended December 31, |  | 2012 |  |  | 2011 |  |  | 2010 |  |  | 2012 |  |  | 2011 |  |  | 2010 |
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Components of net periodic pension cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest cost |  | $ | 458 |  |  | $ | 520 |  |  | $ | 570 |  |  | $ | 2,577 |  |  | $ | 2,695 |  |  | $ | 2,729 |
Expected return on assets |  |  | (418 | ) |  |  | (424 | ) |  |  | (423 | ) |  |  | (2,627 | ) |  |  | (2,783 | ) |  |  | (2,532 | )
Amortization of prior service cost |  |  | (5 | ) |  |  | (5 | ) |  |  | (5 | ) |  |  | — |  |  |  | — |  |  |  | — |
Amortization of actuarial loss |  |  | 255 |  |  |  | 156 |  |  |  | 155 |  |  |  | 196 |  |  |  | — |  |  |  | — |
Net periodic pension cost |  |  | 290 |  |  |  | 247 |  |  |  | 297 |  |  |  | 146 |  |  |  | (88 | ) |  |  | 197 |
Settlement expense |  |  | — |  |  |  | 217 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Amortization of pre-merger regulatory asset |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 761 |  |  |  | 761 |  |  |  | 888 |
Total periodic cost |  | $ | 290 |  |  | $ | 464 |  |  | $ | 297 |  |  | $ | 907 |  |  | $ | 673 |  |  | $ | 1,085 |
Assumptions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 4.25 | % |  |  | 5.00 | % |  |  | 5.25 | % |  |  | 4.50 | % |  |  | 5.25 | % |  |  | 5.75 | %
Expected return on plan assets |  |  | 6.00 | % |  |  | 6.00 | % |  |  | 6.00 | % |  |  | 7.00 | % |  |  | 7.00 | % |  |  | 7.00 | %
Rabbi trust (associated with Supplemental Executive Retirement Savings Plan) [Member] |
Schedule of Funded Status of Benefit Obligation and Plan Assets |
At December 31, |  | 2012 |  |  | 2011 |
(in thousands) |  |  |  |  |  |
Change in benefit obligation: |  |  |  |  |  |  |  |
Benefit obligation — beginning of year |  | $ | 2,160 |  |  | $ | 2,731 |
Interest cost |  |  | 90 |  |  |  | 107 |
Actuarial loss |  |  | 191 |  |  |  | 176 |
Benefits paid |  |  | (89 | ) |  |  | (89 | )
Effect of settlement |  |  | — |  |  |  | (765 | )
Benefit obligation — end of year |  |  | 2,352 |  |  |  | 2,160 |
Change in plan assets: |  |  |  |  |  |  |  |
Fair value of plan assets — beginning of year |  |  | — |  |  |  | — |
Employer contributions |  |  | 89 |  |  |  | 854 |
Benefits paid |  |  | (89 | ) |  |  | (89 | )
Effect of settlement |  |  | — |  |  |  | (765 | )
Fair value of plan assets — end of year |  |  | — |  |  |  | — |
Reconciliation: |  |  |  |  |  |  |  |
Funded status |  |  | (2,352 | ) |  |  | (2,160 | )
Accrued pension cost |  |  | ($2,352 | ) |  |  | ($2,160 | )
Assumptions: |  |  |  |  |  |  |  |
Discount rate |  |  | 3.50 | % |  |  | 4.25 | %
Component of Net Periodic Pension Cost (Benefit) | Net periodic pension costs for the Chesapeake SERP for 2012, 2011, and 2010 include the components shown below:
For the Years Ended December 31, |  | 2012 |  |  | 2011 |  |  | 2010 |
(in thousands) |  |  |  |  |  |  |  |  |
Components of net periodic pension cost: |  |  |  |  |  |  |  |  |  |  |  |
Interest cost |  | $ | 90 |  |  | $ | 107 |  |  | $ | 136 |
Amortization of prior service cost |  |  | 19 |  |  |  | 19 |  |  |  | 18 |
Amortization of actuarial loss |  |  | 46 |  |  |  | 38 |  |  |  | 59 |
Net periodic pension cost |  |  | 155 |  |  |  | 164 |  |  |  | 213 |
Settlement expense |  |  | — |  |  |  | 219 |  |  |  | — |
Total periodic cost |  | $ | 155 |  |  | $ | 383 |  |  | $ | 213 |
Assumptions: |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 4.25 | % |  |  | 5.00 | % |  |  | 5.25 | %
Other Postretirement Benefit Plans [Member] |
Schedule of Funded Status of Benefit Obligation and Plan Assets | The following schedule sets forth the status of other postretirement benefit plans:
|  | Chesapeake |  |  | FPU |
|  | Postretirement Plan |  |  | Medical Plan |
At December 31, |  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Change in benefit obligation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Benefit obligation — beginning of year |  | $ | 1,396 |  |  | $ | 2,474 |  |  | $ | 4,081 |  |  | $ | 3,098 |
Service cost |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 125 |
Interest cost |  |  | 55 |  |  |  | 64 |  |  |  | 79 |  |  |  | 176 |
Plan amendments |  |  | — |  |  |  | (1,140 | ) |  |  | — |  |  |  | — |
Plan participants contributions |  |  | 111 |  |  |  | 108 |  |  |  | 92 |  |  |  | 88 |
Curtailment gain |  |  | — |  |  |  | — |  |  |  | (2,651 | ) |  |  | — |
Actuarial loss |  |  | 39 |  |  |  | 100 |  |  |  | 500 |  |  |  | 802 |
Benefits paid |  |  | (186 | ) |  |  | (210 | ) |  |  | (328 | ) |  |  | (208 | )
Benefit obligation — end of year |  |  | 1,415 |  |  |  | 1,396 |  |  |  | 1,774 |  |  |  | 4,081 |
Change in plan assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets — beginning of year |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Employer contributions(1) |  |  | 75 |  |  |  | 102 |  |  |  | 236 |  |  |  | 120 |
Plan participants contributions |  |  | 111 |  |  |  | 108 |  |  |  | 92 |  |  |  | 88 |
Benefits paid |  |  | (186 | ) |  |  | (210 | ) |  |  | (328 | ) |  |  | (208 | )
Fair value of plan assets — end of year |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Reconciliation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Funded status |  |  | (1,415 | ) |  |  | (1,396 | ) |  |  | (1,774 | ) |  |  | (4,081 | )
Accrued postretirement cost |  |  | ($1,415 | ) |  |  | ($1,396 | ) |  |  | ($1,774 | ) |  |  | ($4,081 | )
Assumptions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 3.50 | % |  |  | 4.25 | % |  |  | 3.75 | % |  |  | 4.50 | %
(1) | Chesapeake’s Postretirement Plan does not receive a Medicare Part-D subsidy. The FPU Medical Plan did not receive a significant subsidy for the post-merger period.
Component of Net Periodic Pension Cost (Benefit) | Net periodic postretirement benefit costs for 2012, 2011, and 2010 include the following components:
|  | Chesapeake |  |  | FPU |
|  | Postretirement Plan |  |  | Medical Plan |
For the Years Ended December 31, |  | 2012 |  |  | 2011 |  |  | 2010 |  |  | 2012 |  |  | 2011 |  |  | 2010 |
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Components of net periodic postretirement cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | 125 |  |  | $ | 76 |
Interest cost |  |  | 55 |  |  |  | 64 |  |  |  | 122 |  |  |  | 79 |  |  |  | 176 |  |  |  | 123 |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Actuarial (gain) loss |  |  | 73 |  |  |  | 67 |  |  |  | 57 |  |  |  | — |  |  |  | 55 |  |  |  | (6 | )
Prior service cost |  |  | (77 | ) |  |  | (77 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net periodic postretirement cost |  | $ | 51 |  |  | $ | 54 |  |  | $ | 179 |  |  | $ | 80 |  |  | $ | 356 |  |  | $ | 193 |
Curtailment gain |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (892 | ) |  |  | — |  |  |  | — |
Net periodic postretirement cost |  | $ | 51 |  |  | $ | 54 |  |  | $ | 179 |  |  |  | ($812 | ) |  | $ | 356 |  |  | $ | 193 |
Assumptions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 4.25 | % |  |  | 5.00 | % |  |  | 5.25 | % |  |  | 4.50 | % |  |  | 5.25 | % |  |  | 5.75 | %

X
- Definition Asset Allocation Range Table [Text Block] + References No definition available. + Details
Name: | cpk_AssetAllocationRangeTableTextBlock
Namespace Prefix: | cpk_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Asset Allocation By Asset Category Table [Text Block] + References No definition available. + Details
Name: | cpk_ScheduleOfAssetAllocationByAssetCategoryTableTextBlock
Namespace Prefix: | cpk_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income (loss) expected to be recognized as components of net periodic benefit cost over the next fiscal year, including the net gain (loss), net prior service cost or credit, and net transition asset or obligation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (s) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsInAccumulatedOtherComprehensiveIncomeLossToBeRecognizedOverNextFiscalYearTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in the benefit obligation of pension plans and/or other employee benefit plans from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfChangesInProjectedBenefitObligationsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in defined benefit plan assets within level 3 of the fair value hierarchy. + References No definition available. + Details
Name: | us-gaap_ScheduleofLevelThreeDefinedBenefitPlanAssetsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration