Retirement Plans & Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2011

Retirement Plans and Other Postretirement Benefits [Abstract]

Summary of components of net periodic benefit cost

A summary of the components of net periodic benefit cost for the three years ended December 31, 2011 follows:

	Pension Benefits									Other Benefits
(In millions)	2011			2010			2009			2011			2010			2009
Service cost	$	6.9		$	6.3		$	6.3		$	0.5		$	0.5		$	0.5
Interest cost		15.9			15.9			15.8			4.3			4.6			4.4
Expected return on plan assets		(21.2	)		(18.4	)		(16.4	)		-			(0.4	)		(0.3	)
Amortization of prior service cost (benefit)		1.7			1.6			1.7			(0.8	)		(0.8	)		(0.8	)
Amortization of actuarial loss (gain)		3.8			3.2			2.2			0.6			0.5			0.4
Amortization of transitional obligation					-			-			1.1			1.2			1.1
Net periodic benefit cost	$	7.1		$	8.6		$	9.6		$	5.7		$	5.6		$	5.3

Schedule of assumptions used

The weighted averages of significant assumptions used to determine net periodic benefit costs follow:

	Pension Benefits									Other Benefits
	2011			2010			2009			2011			2010			2009
Discount rate		5.50	%		6.00	%		6.25	%		5.50	%		6.00	%		6.25	%
Rate of compensation increase		3.50	%		3.50	%		3.75	%		N/A			N/A			N/A
Expected return on plan assets		8.00	%		8.00	%		8.25	%		8.00	%		8.00	%		8.25	%
Expected increase in Consumer Price Index		N/A			N/A			N/A			3.00	%		3.00	%		3.50	%

The benefit obligation as of December 31, 2011 and 2010 was calculated using the following weighted average assumptions:

	Pension Benefits						Other Benefits
	2011			2010			2011			2010
Discount rate		4.82	%		5.50	%		4.78	%		5.50	%
Rate of compensation increase		3.50	%		3.50	%		N/A			N/A
Expected increase in Consumer Price Index		N/A			N/A			2.75	%		3.00	%

Schedule of changes in projected benefit obligations

A reconciliation of the Company's benefit obligations at December 31, 2011 and 2010 follows:

	Pension Benefits						Other Benefits
(In millions)	2011			2010			2011			2010
Benefit obligation, beginning of period	$	297.3		$	271.5		$	80.7		$	79.6
Service cost - benefits earned during the period		6.9			6.3			0.5			0.5
Interest cost on projected benefit obligation		15.9			15.9			4.3			4.6
Plan participants' contributions		-			-			1.9			1.7
Plan amendments		-			0.8			-			-
Actuarial loss (gain)		23.1			21.3			(0.5	)		1.2
Medicare subsidy receipts		-			-			1.0			0.5
Benefit payments		(14.0	)		(18.5	)		(8.2	)		(7.4	)
Benefit obligation, end of period	$	329.2		$	297.3		$	79.7		$	80.7

Schedule of changes in fair value of plan assets

A reconciliation of the Company's plan assets at December 31, 2011 and 2010 follows:

	Pension Benefits						Other Benefits
(In millions)	2011			2010			2011			2010
Plan assets at fair value, beginning of period	$	237.2		$	211.1		$	3.1		$	4.0
Actual return on plan assets		2.1			26.8			0.1			0.3
Employer contributions		35.7			17.8			3.1			4.5
Plan participants' contributions		-			-			1.9			1.7
Benefit payments		(14.0	)		(18.5	)		(8.2	)		(7.4	)
Fair value of plan assets, end of period	$	261.0		$	237.2		$	-		$	3.1

Fair values of pension and other retirement plan assets by category and fair value hierarchy

The fair values of the Company's pension and other retirement plan assets at December 31, 2011 and December 31, 2010 by asset category and by fair value hierarchy are as follows:

	As of December 31, 2011
(In millions)	Level 1		Level 2		Level 3		Total
Domestic equities & equity funds	$	54.7	$	66.5	$	-	$	121.2
International equities & equity funds		28.6		-		-		28.6
Domestic bonds & bond funds		38.2		39.1		-		77.3
Inflation protected security fund		-		11.8		-		11.8
Real estate, commodities & other		7.5		10.8		3.8		22.1
Total Plan Investments	$	129.0	$	128.2	$	3.8	$	261.0

	As of December 31, 2010
(In millions)	Level 1		Level 2		Level 3		Total
Domestic equities & equity funds	$	54.6	$	60.8	$	-	$	115.4
International equities & equity funds		29.7		-		-		29.7
Domestic bonds & bond funds		35.3		31.3		-		66.6
Inflation protected security fund		-		9.2		-		9.2
Real estate, commodities & other		6.6		9.1		3.7		19.4
Total Plan Investments	$	126.2	$	110.4	$	3.7	$	240.3

Schedule of effect of significant unobservable inputs, changes in plan assets

A roll forward of the fair value of the guaranteed annuity contract calculated using Level 3 valuation assumptions follows:

(In millions)	2011			2010
Fair value, beginning of year	$	3.7		$	3.6
Unrealized gains related to    investments still held at reporting date		0.2			0.2
Purchases, sales and settlements, net		(0.1	)		(0.1	)
Fair value, end of year	$	3.8		$	3.7

Schedule of net funded status of plans

The funded status of the plans as of December 31, 2011 and 2010 follows:

	Pension Benefits						Other Benefits
(In millions)	2011			2010			2011			2010
Qualified Plans
Benefit obligation, end of period	$	(314.7	)	$	(285.5	)	$	(79.7	)	$	(80.7	)
Fair value of plan assets, end of period		261.0			237.2			-			3.1
Funded Status of Qualified Plans, end of period		(53.7	)		(48.3	)		(79.7	)		(77.6	)
Benefit obligation of SERP Plan, end of period		(14.5	)		(11.8	)		-			-
Total funded status, end of period	$	(68.2	)	$	(60.1	)	$	(79.7	)	$	(77.6	)
Accrued liabilities	$	0.7		$	0.7		$	5.1		$	4.6
Deferred credits & other liabilities

Schedule of net periodic benefit cost not yet recognized

Following is a roll forward of prior service cost, actuarial gains and losses, and transition obligations.

(In millions)	Pensions						Other Benefits
	Prior Service Cost			Net Gain or Loss			Prior Service Cost			Net Gain or Loss			Transition Obligation
Balance January 1, 2009	$	9.5		$	90.9		$	(3.7	)	$	3.5		$	6.2
Amounts arising during the period		0.1			(20.2	)		0.1			6.6			(0.1	)
Reclassification to benefit costs		(1.7	)		(2.2	)		0.8			(0.4	)		(1.1	)
Balance December 31, 2009	$	7.9		$	68.5		$	(2.8	)	$	9.7		$	5.0
Amounts arising during the period		0.8			12.9			-			1.1			-
Reclassification to benefit costs		(1.6	)		(3.2	)		0.8			(0.5	)		(1.2	)
Balance December 31, 2010	$	7.1		$	78.2		$	(2.0	)	$	10.3		$	3.8
Amounts arising during the period		-			42.2			-			(0.6	)		-
Reclassification to benefit costs		(1.7	)		(3.8	)		0.8			(0.6	)		(1.1	)
Balance December 31, 2011	$	5.4		$	116.6		$	(1.2	)	$	9.1		$	2.7

Reconciliation of the amounts in Accumulated other comprehensive income (AOCI) and Regulatory assets related to retirement plan obligations

Following is a reconciliation of the amounts in Accumulated other comprehensive income (AOCI) and Regulatory assets related to retirement plan obligations at December 31, 2011 and 2010:

(In millions)	2011						2010
	Pensions			Other Benefits			Pensions			Other Benefits
Prior service cost	$	5.4		$	(1.2	)	$	7.1		$	(2.0	)
Unamortized actuarial gain/(loss)		116.6			9.1			78.2			10.3
Transition obligation		-			2.7			-			3.8
		122.0			10.6			85.3			12.1
Less: Regulatory asset deferral		(115.9	)		(10.1	)		(81.0	)		(11.5	)
AOCI before taxes	$	6.1		$	0.5		$	4.3		$	0.6