Retirement Benefits (Tables)

6 Months Ended

Jun. 30, 2013

The following table summarizes the Company’s change in benefit obligation for the periods ended June 30, 2013 and December 31, 2012:



Puget Energy and Puget Sound Energy	Qualified Pension Benefits						SERP Pension Benefits						Other Benefits
	Six Months Ended			Year Ended			Six Months Ended			Year Ended			Six Months Ended			Year Ended
(Dollars in Thousands)	June 30, 2013			December 31, 2012			June 30, 2013			December 31, 2012			June 30, 2013			December 31, 2012
Change in benefit obligation:
Benefit obligation at beginning of period	$	616,290		$	565,997		$	51,795		$	48,370		$	17,672		$	16,436
Service cost	9,642			16,926			749			1,073			67			139
Interest cost	12,377			25,986			1,023			2,152			332			751
Amendment	—			—			—			(122		)	—			—
Actuarial loss/(gain)	3,436			40,914			—			5,483			(1,055		)	1,199
Benefits paid	(23,250		)	(33,533		)	(3,182		)	(5,161		)	(802		)	(1,523		)
Medicare part D subsidiary received	—			—			—			—			125			670
Benefit obligation at end of period	$	618,495		$	616,290		$	50,385		$	51,795		$	16,339		$	17,672

PUGET ENERGY [Member]

following tables summarize the Company’s net periodic benefit cost for the three and six months ended June 30, 2013 and 2012:



Puget Energy
Three Months Ended June 30,	Qualified Pension Benefits						SERP Pension Benefits					Other Benefits
(Dollars in Thousands)	2013			2012			2013			2012		2013			2012
Components of net periodic benefit cost:
Service cost	$	4,934		$	4,229		$	375		$	268	$	32		$	32
Interest cost	6,182			6,551			511			538		155			188
Expected return on plan assets	(9,696		)	(9,101		)	—			—		(109		)	(109		)
Amortization of prior service cost	(495		)	(495		)	(4		)	—		—			—
Amortization of net loss (gain)	794			234			365			176		18			17
Net periodic benefit cost	$	1,719		$	1,418		$	1,247		$	982	$	96		$	128



Puget Energy
Six Months Ended June 30,	Qualified Pension Benefits						SERP Pension Benefits					Other Benefits
(Dollars in Thousands)	2013			2012			2013			2012		2013			2012
Components of net periodic benefit cost:
Service cost	$	9,643		$	8,463		$	749		$	537	$	67		$	70
Interest cost	12,377			12,993			1,022			1,076		332			375
Expected return on plan assets	(19,548		)	(18,102		)	—			—		(218		)	(218		)
Amortization of prior service cost	(990		)	(990		)	(9		)	—		—			—
Amortization of net loss (gain)	1,444			384			731			351		34			27
Net periodic benefit cost	$	2,926		$	2,748		$	2,493		$	1,964	$	215		$	254

Subsidiaries [Member]



Puget Sound Energy
Three Months Ended June 30,	Qualified						SERP					Other
	Pension Benefits						Pension Benefits					Benefits
(Dollars in Thousands)	2013			2012			2013			2012		2013			2012
Components of net periodic benefit cost:
Service cost	$	4,934		$	4,229		$	375		$	268	$	32		$	32
Interest cost	6,182			6,551			511			538		155			188
Expected return on plan assets	(10,094		)	(10,434		)	—			—		(109		)	(109		)
Amortization of prior service cost	(393		)	(393		)	(4		)	74		8			9
Amortization of net loss (gain)	5,221			3,790			548			358		(108		)	(63		)
Amortization of transition obligation	—			—			—			—		—			12
Net periodic benefit cost	$	5,850		$	3,743		$	1,430		$	1,238	$	(22	)	$	69



Puget Sound Energy
Six Months Ended June 30,	Qualified						SERP					Other
	Pension Benefits						Pension Benefits					Benefits
(Dollars in Thousands)	2013			2012			2013			2012		2013			2012
Components of net periodic benefit cost:
Service cost	$	9,643		$	8,463		$	749		$	537	$	67		$	70
Interest cost	12,377			12,993			1,022			1,076		332			375
Expected return on plan assets	(20,343		)	(20,767		)	—			—		(218		)	(218		)
Amortization of prior service cost	(787		)	(787		)	(8		)	146		14			18
Amortization of net loss (gain)	10,306			7,508			1,096			716		(142		)	(122		)
Amortization of transition obligation	—			—			—			—		—			25
Net periodic benefit cost	$	11,196		$	7,410		$	2,859		$	2,475	$	53		$	148