EMPLOYEE BENEFITS

3 Months Ended

Mar. 31, 2023

Retirement Benefits [Abstract]

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS

The following tables show the components of net periodic benefit cost (credit) for our benefit plans.

	Pension Benefits
	Three Months Ended March 31
(in millions)	2023		2022
Service cost	$	1.4	$	2.6
Interest cost	7.5		5.7
Expected return on plan assets	(12.9)		(13.8)
Amortization of net actuarial loss	4.2		4.4
Net periodic benefit cost (credit)	$	0.2	$	(1.1)

	OPEB Benefits
	Three Months Ended March 31
(in millions)	2023		2022
Service cost	$	0.7	$	1.1
Interest cost	1.5		1.1
Expected return on plan assets	(4.1)		(5.2)
Amortization of prior service credit	(2.5)		(2.6)
Amortization of net actuarial (gain) loss	0.2		(0.6)
Net periodic benefit credit	$	(4.2)	$	(6.2)

During the three months ended March 31, 2023, we made contributions and payments of $0.1 million related to our pension plans and $0.3 million related to our OPEB plans. We expect to make contributions and payments of $0.5 million related to our pension plans and $0.7 million related to our OPEB plans during the remainder of 2023, dependent upon various factors affecting us, including our liquidity position and possible tax law changes.

Effective January 1, 2023, the PSCW approved escrow accounting for pension and OPEB costs. As a result, as of March 31, 2023, we recorded a $1.7 million regulatory asset for pension costs and a $1.6 million regulatory asset for OPEB costs. The above tables do not reflect any adjustments for the creation of these regulatory assets.