XML 40 R11.htm IDEA: XBRL DOCUMENT v2.4.0.8
Employee Benefit Plans:
 9 Months Ended
Sep. 30, 2014
Compensation and Retirement Disclosure [Abstract]  
Employee Benefit Plans
Employee Benefit Plans:
     The components of net periodic benefit costs, before allocation to the overhead pool, for Registrant’s pension plan, postretirement plan and Supplemental Executive Retirement Plan ("SERP") for the three and nine months ended September 30, 2014 and 2013 are as follows:
 
 
For The Three Months Ended September 30,
 
 
Pension Benefits
 
Other
Postretirement
Benefits
 
SERP
(dollars in thousands)
 
2014
 
2013
 
2014
 
2013
 
2014
 
2013
Components of Net Periodic Benefits Cost:
 
 

 
 

 
 

 
 

 
 

 
 

Service cost
 
$
1,411

 
$
1,742

 
$
63

 
$
106

 
$
192

 
$
201

Interest cost
 
1,880

 
1,727

 
111

 
113

 
154

 
129

Expected return on plan assets
 
(2,225
)
 
(1,894
)
 
(114
)
 
(95
)
 
—

 
—

Amortization of transition
 
—

 
—

 
105

 
105

 
—

 
—

Amortization of prior service cost (benefit)
 
30

 
30

 
(50
)
 
(50
)
 
40

 
40

Amortization of actuarial (gain) loss
 
—

 
720

 
(115
)
 
—

 
35

 
85

Net periodic pension cost under accounting standards
 
1,096

 
2,325

 
—

 
179

 
421

 
455

Regulatory adjustment — deferred
 
374

 
(521
)
 
—

 
—

 
—

 
—

Total expense recognized, before allocation to overhead pool
 
$
1,470

 
$
1,804

 
$
—

 
$
179

 
$
421

 
$
455


 
 
For The Nine Months Ended September 30,
 
 
Pension Benefits
 
Other
Postretirement
Benefits
 
SERP
(dollars in thousands)
 
2014
 
2013
 
2014
 
2013
 
2014
 
2013
Components of Net Periodic Benefits Cost:
 
 

 
 

 
 

 
 

 
 

 
 

Service cost
 
$
4,233

 
$
5,226

 
$
261

 
$
318

 
$
576

 
$
603

Interest cost
 
5,640

 
5,181

 
371

 
339

 
462

 
387

Expected return on plan assets
 
(6,675
)
 
(5,682
)
 
(340
)
 
(285
)
 
—

 
—

Amortization of transition
 
—

 
—

 
313

 
315

 
—

 
—

Amortization of prior service cost (benefit)
 
89

 
90

 
(150
)
 
(150
)
 
120

 
120

Amortization of actuarial (gain) loss
 
—

 
2,160

 
(247
)
 
—

 
105

 
255

Net periodic pension cost under accounting standards
 
3,287

 
6,975

 
208

 
537

 
1,263

 
1,365

Regulatory adjustment — deferred
 
1,123

 
(1,440
)
 
—

 
—

 
—

 
—

Total expense recognized, before allocation to overhead pool
 
$
4,410

 
$
5,535

 
$
208

 
$
537

 
$
1,263

 
$
1,365


During the three and nine months ended September 30, 2014, Registrant contributed $8.2 million to the pension plan.
Regulatory Adjustment:
In May 2013, the CPUC issued a final decision that authorized GSWC to utilize a two-way balancing account for its water regions and the general office to track differences between the forecasted annual pension expenses adopted in rates and the actual annual expense recorded by GSWC in accordance with the accounting guidance for pension costs.  As of September 30, 2014, GSWC has a $3.2 million under-collection in the two-way pension balancing account included as part of the pension regulatory asset (Note 2).
Affordable Care Act:
In 2010, the Patient Protection and Affordable Care Act ("Affordable Care Act") was passed and was to become effective in 2014.  In July 2013, compliance with the employer mandate and certain reporting requirements under the Affordable Care Act were delayed until 2015. Registrant’s health care plan meets the current requirements of the Affordable Care Act for the majority of its employees. Registrant continues to assess the impact of the Affordable Care Act on its health care benefit costs, but does not expect it to have a material impact in the near future on Registrant's consolidated financial position, results of operations or cash flows.