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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2019
Retirement Benefits [Abstract]  
Schedule of Changes in Projected Benefit Obligations
Following is a reconciliation of the changes in plan benefit obligations and fair value of plan assets, and a statement of the funded status (in thousands):
 
Pension Benefits
 
Other Postretirement Benefits
 
December 31,
 
December 31,
 
2019
 
2018
 
2019
 
2018
Change in benefit obligation:
 
 
 
 
 
 
 
Obligation at beginning of period
$
649,626

 
$
696,796

 
$
20,611

 
$
22,921

Service cost
9,637

 
11,776

 
331

 
398

Interest cost
26,488

 
24,420

 
609

 
578

Actuarial loss (gain)
83,364

 
(53,496
)
 
997

 
(1,903
)
Settlements
(4,065
)
 
—

 
390

 
390

Benefits paid
(29,486
)
 
(29,870
)
 
(2,666
)
 
(1,773
)
Benefit Obligation at End of Period
$
735,564

 
$
649,626

 
$
20,272

 
$
20,611

Change in Fair Value of Plan Assets:
 
 
 
 
 
 
 
Fair value of plan assets at beginning of period
$
525,310

 
$
586,508

 
$
18,670

 
$
20,380

Return on plan assets
107,041

 
(40,528
)
 
3,805

 
(866
)
Employer contributions
10,200

 
9,200

 
1,670

 
929

Settlements
(4,065
)
 
—

 
—

 
—

Benefits paid
(29,486
)
 
(29,870
)
 
(2,666
)
 
(1,773
)
Fair value of plan assets at end of period
$
609,000

 
$
525,310

 
$
21,479

 
$
18,670

Funded Status
$
(126,564
)
 
$
(124,316
)
 
$
1,207

 
$
(1,941
)
 
 
 
 
 
 
 
 
Amounts Recognized in the Balance Sheet Consist of:
 
 
 
 
 
 
 
Noncurrent asset
4,333

 
2,672

 
7,783

 
4,565

Total Assets
4,333

 
2,672

 
7,783

 
4,565

Current liability
(11,401
)
 
—

 
(2,113
)
 
(2,271
)
Noncurrent liability
(119,496
)
 
(126,988
)
 
(4,463
)
 
(4,235
)
Total Liabilities
(130,897
)
 
(126,988
)
 
(6,576
)
 
(6,506
)
Net amount recognized
$
(126,564
)
 
$
(124,316
)
 
$
1,207

 
$
(1,941
)
 
 
 
 
 
 
 
 
Amounts Recognized in Regulatory Assets Consist of:
 
 
 
 
 
 
 
Prior service credit
—

 
—

 
5,890

 
7,922

Net actuarial (loss) gain
(111,449
)
 
(116,425
)
 
259

 
(1,910
)
Amounts recognized in AOCL consist of:
 
 
 
 
 
 
 
Prior service cost
—

 
—

 
(397
)
 
(548
)
Net actuarial gain
—

 
—

 
934

 
1,260

Total
$
(111,449
)
 
$
(116,425
)
 
$
6,686

 
$
6,724
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
The total projected benefit obligation and fair value of plan assets for the pension plans with accumulated benefit obligations in excess of plan assets were as follows (in millions):
 
NorthWestern Energy Pension Plan
 
December 31,
2019
 
2018
Projected benefit obligation
$
675.5

 
$
592.5

Accumulated benefit obligation
675.5

 
592.5

Fair value of plan assets
545.8

 
466.7

 ____________________
As of December 31, 2019, the fair value of the NorthWestern Corporation pension plan assets exceed the total projected and accumulated benefit obligation and are therefore excluded from this table.

Schedule of Defined Benefit Plans Disclosures
The components of the net costs (credits) for our pension and other postretirement plans are as follows (in thousands):
 
Pension Benefits
 
Other Postretirement Benefits
 
December 31,
 
December 31,
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
Components of Net Periodic Benefit Cost
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
9,637

 
$
11,776

 
$
10,994

 
$
331

 
$
398

 
$
456

Interest cost
26,488

 
24,420

 
25,633

 
609

 
578

 
715

Expected return on plan assets
(25,443
)
 
(28,207
)
 
(23,964
)
 
(869
)
 
(954
)
 
(846
)
Amortization of prior service cost (credit)
—

 
4

 
4

 
(1,882
)
 
(1,882
)
 
(1,882
)
Recognized actuarial loss (gain)
6,544

 
4,360

 
7,837

 
(96
)
 
(79
)
 
318

Settlement loss recognized
198

 
—

 
—

 
390

 
390

 
390

Net Periodic Benefit Cost (Credit)
$
17,424

 
$
12,353

 
$
20,504

 
$
(1,517
)
 
$
(1,549
)
 
$
(849
)
 
 
 
 
 
 
 
 
 
 
 
 
Regulatory deferral of net periodic benefit cost (1)
(7,510
)
 
(4,057
)
 
(11,751
)
 
—

 
—

 
—

Previously deferred costs recognized (1)
728

 
243

 
724

 
931

 
913

 
1,153

Amount Recognized in Income
$
10,642

 
$
8,539

 
$
9,477

 
$
(586
)
 
$
(636
)
 
$
304

 
 
 
 
 
 
 
 
 
 
 
 
Income Statement Presentation
 
 
 
 
 
 
 
 
 
 
Operating, general and administrative expense
2,125

 
7,719

 
(757
)
 
331

 
398

 
457

Other income (expense), net
8,517

 
820

 
10,234

 
(917
)
 
(1,034
)
 
(153
)
Amount Recognized in Income
$
10,642

 
$
8,539

 
$
9,477

 
$
(586
)
 
$
(636
)
 
$
304

 
 
 
 
 
 
 
 
 
 
 
 

___________________________
(1) Net periodic benefit costs for pension and postretirement benefit plans are recognized for financial reporting based on the authorization of each regulatory jurisdiction in which we operate. A portion of these costs are recorded in regulatory assets and recognized in the Consolidated Statements of Income as those costs are recovered through customer rates.
Schedule of Assumptions Used
The weighted-average assumptions used in calculating the preceding information are as follows:
 
Pension Benefits
 
Other Postretirement Benefits
 
 
December 31,
 
December 31,
 
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
 
Discount rate
3.10-3.20
%
4.15-4.20
%
3.50-3.60
%
2.80
%
3.90-3.95
%
3.20-3.30
%
Expected rate of return on assets
4.23-5.06
 
4.47-4.97
 
4.70
 
4.79
 
4.82
 
4.70
 
Long-term rate of increase in compensation levels (non-union)
2.84
 
2.84
 
2.89
 
2.84
 
2.84
 
2.89
 
Long-term rate of increase in compensation levels (union)
2.00
 
2.03
 
2.03
 
2.00
 
2.03
 
2.03
 
Interest crediting rate
3.60-6.00
 
4.00-6.00
 
4.00-6.00
 
N/A
 
N/A
 
N/A
 
Schedule of Pension And Postretirement Benefits Investment Strategy Based on this, the target asset allocation established, within an allowable range of plus or minus 5%, is as follows:
 
NorthWestern Energy Pension
 
NorthWestern Corporation Pension
 
NorthWestern Energy
Health and Welfare
 
December 31,
 
December 31,
 
December 31,
 
2019
 
2018
 
2019
 
2018
 
2019
 
2018
Domestic debt securities
55.0
%
 
55.0
%
 
80.0
%
 
75.0
%
 
40.0
%
 
40.0
%
International debt securities
4.0

 
4.0

 
2.0

 
2.5

 
—

 
—

Domestic equity securities
16.5

 
16.5

 
7.2

 
9.0

 
50.0

 
50.0

International equity securities
24.5

 
24.5

 
10.8

 
13.5

 
10.0

 
10.0
Schedule of Allocation of Plan Assets
The actual allocation by plan is as follows:
 
NorthWestern Energy Pension
 
NorthWestern Corporation Pension
 
NorthWestern Energy
Health and Welfare
 
December 31,
 
December 31,
 
December 31,
2019
 
2018
 
2019
 
2018
 
2019
 
2018
Cash and cash equivalents
—
%
 
0.1
%
 
0.9
%
 
—
%
 
1.0
%
 
1.0
%
Domestic debt securities
53.8

 
57.5

 
77.0

 
81.3

 
37.8

 
40.8

International debt securities
4.0

 
4.4

 
2.6

 
2.6

 
—

 
—

Domestic equity securities
16.8

 
15.0

 
8.1

 
6.3

 
52.4

 
49.1

International equity securities
25.4

 
23.0

 
11.4

 
9.8

 
8.8

 
9.1

 
100.0
%
 
100.0
%
 
100.0
%
 
100.0
%
 
100.0
%
 
100.0
%
Schedule of Pension Contributions Annual contributions to each of the pension plans are as follows (in thousands):
 
2019
 
2018
 
2017
NorthWestern Energy Pension Plan (MT)
$
9,000

 
$
8,000

 
$
8,000

NorthWestern Corporation Pension Plan (SD and NE)
1,200

 
1,200

 
1,200

 
$
10,200

 
$
9,200

 
$
9,200
Schedule of Expected Benefit Payments
We estimate the plans will make future benefit payments to participants as follows (in thousands):
 
Pension Benefits
 
Other Postretirement Benefits
2020
$
33,310

 
$
3,025

2021
34,823

 
2,934

2022
36,154

 
2,501

2023
37,605

 
2,337

2024
39,084

 
1,843

2025-2029
207,765

 
5,851