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Pension And Other Postretirement Benefits
 6 Months Ended
Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]  
Pension And Other Postretirement Benefits
PENSION AND OTHER POSTRETIREMENT BENEFITS
 
The following table (in thousands) presents information for the six months ended June 30, 2015, relating to the Pension Plans:
Net unfunded status of plans:
 

Net unfunded status at December 31, 2014, before tax adjustments
$
(91,182
)
Net benefit cost components reflected in net funded status during first quarter:
 

Service cost
(2,079
)
Interest cost
(7,408
)
Expected return on assets
11,206

Employer contributions during quarter
25,000

Net unfunded status at March 31, 2015, before tax adjustments
$
(64,463
)
Net benefit cost components reflected in net funded status during second quarter:
 

Service cost
(2,078
)
Interest cost
(7,408
)
Expected return on assets
11,206

Net unfunded status at June 30, 2015, before tax adjustments
$
(62,743
)
 
 
Regulatory assets related to pensions(1):
 
Regulatory assets at December 31, 2014, before tax adjustments
$
236,891

Amount reclassified through net benefit cost: 
 

Amortization of prior service cost
(1,216
)
Amortization of net actuarial loss
(3,475
)
Regulatory assets at March 31, 2015, before tax adjustments
$
232,200

Amount reclassified through net benefit cost: 
 

Amortization of prior service cost
(1,217
)
Amortization of net actuarial loss
(3,475
)
Regulatory assets at June 30, 2015, before tax adjustments
$
227,508

 
 


(1)
Amounts that would otherwise be charged/credited to Accumulated Other Comprehensive Income or Loss upon application of ASC 715, “Compensation – Retirement Benefits,” are recorded as a regulatory asset or liability because IPL has historically recovered and currently recovers pension and other postretirement benefit expenses in rates. These are unrecognized amounts yet to be recognized as components of net periodic benefit costs.
 
Pension Expense
 
The following table presents net periodic benefit cost information relating to the Pension Plans combined:
 
 
For the Three Months Ended,
For the Six Months Ended,
 
June 30,
June 30,
 
2015
2014
2015
2014
 
(In Thousands)
(In Thousands)
Components of net periodic benefit cost:
 
 
 
 
Service cost
$
2,078

$
1,807

$
4,157

$
3,615

Interest cost
7,408

7,789

14,816

15,577

Expected return on plan assets
(11,206
)
(10,473
)
(22,412
)
(20,946
)
Amortization of prior service cost
1,217

1,213

2,433

2,426

Amortization of actuarial loss
3,475

2,426

6,950

4,855

Net periodic benefit cost
$
2,972

$
2,762

$
5,944

$
5,527



In addition, IPL provides postretirement health care benefits to certain active or retired employees and the spouses of certain active or retired employees. These postretirement health care benefits and the related unfunded obligation was $5.7 million and $5.4 million at June 30, 2015 and December 31, 2014, respectively.  The related expense was not material to the Financial Statements in the periods covered by this report.