Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2018

Assets and Liabilities associated with Non Qualified Benefit Plans [Table Text Block]

Trust assets and plan liabilities related to the NQBP included in PGE’s consolidated balance sheets are as follows as of December 31 (in millions):



	2018						2017
	NQBP		Other NQBP		Total		NQBP		Other NQBP		Total
Non-qualified benefit plan trust	$	16	$	20	$	36	$	17	$	20	$	37
Non-qualified benefit plan liabilities *	22		81		103		25		81		106


*	For the NQBP, excludes the current portion of $2 million in 2018 and in 2017, which are classified in Other current liabilities in the consolidated balance sheets.

Schedule of Allocation of Plan Assets [Table Text Block]

The asset allocations for the plans, and the target allocation, are as follows:



	As of December 31,
	2018				2017
	Actual		Target *		Actual		Target *
Defined Benefit Pension Plan:
Equity securities	65	%	67	%	68	%	67	%
Debt securities	35		33		32		33
Total	100	%	100	%	100	%	100	%
Other Postretirement Benefit Plans:
Equity securities	58	%	59	%	63	%	62	%
Debt securities	42		41		37		38
Total	100	%	100	%	100	%	100	%
Non-Qualified Benefits Plans:
Equity securities	16	%	13	%	18	%	12	%
Debt securities	10		13		6		12
Insurance contracts	74		74		76		76
Total	100	%	100	%	100	%	100	%

The target for the Defined Benefit Pension Plan represents the mid-point of the investment target range. Due to the nature of the investment vehicles in both the Other Postretirement Benefit Plans and the NQBP, these targets are the weighted average of the mid-point of the respective investment target ranges approved by the Investment Committee. Due to the method used to calculate the weighted average targets for the Other Postretirement Benefit Plans and NQBP, reported percentages are affected by the fair market values of the investments within the pools.

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The Company’s financial assets and liabilities whose values were recognized at fair value are as follows by level within the fair value hierarchy (in millions):



	As of December 31, 2018
	Level 1		Level 2		Level 3		Other⁽²⁾		Total
Assets:
Cash equivalents	$	112	$	—	$	—	$	—	$	112
Nuclear decommissioning trust: ⁽¹⁾
Debt securities:
Domestic government	7		18		—		—		25
Corporate credit	—		10		—		—		10
Money market funds measured at NAV ⁽²⁾	—		—		—		7		7
Non-qualified benefit plan trust: ⁽³⁾
Money market funds	2		—		—		—		2
Equity securities—domestic	6		—		—		—		6
Debt securities—domestic government	1		—		—		—		1
Price risk management activities: ^{(1) (4)}
Electricity	—		9		3		—		12
Natural gas	—		8		—		—		8
	$	128	$	45	$	3	$	7	$	183
Liabilities:
Interest rate swap derivatives	$	—	$	4	$	—	$	—	4
Price risk management activities: ^{(1) (4)}
Electricity	—		10		84		—		94
Natural gas	—		51		7		—		58
	$	—	$	65	$	91	$	—	$	156


(1)	Activities are subject to regulation, with certain gains and losses deferred pursuant to regulatory accounting and included in regulatory assets or regulatory liabilities as appropriate.


(2)	Assets are measured at NAV as a practical expedient and not subject to hierarchy level classification disclosure.


(3)	Excludes insurance policies of $27 million, which are recorded at cash surrender value.


(4)	For further information regarding price risk management derivatives, see Note 6, Risk Management.



	As of December 31, 2017
	Level 1		Level 2		Level 3		Other⁽²⁾		Total
Assets:
Cash equivalents	$	30	$	—	$	—	$	—	$	30
Nuclear decommissioning trust: ⁽¹⁾
Debt securities:
Domestic government	$	4	$	7	$	—	$	—	$	11
Corporate credit	—		6		—		—		6
Money market funds measured at NAV ⁽²⁾	—		—		—		25		25
Non-qualified benefit plan trust: ⁽³⁾
Money market funds	1		—		—		—		1
Equity securities—domestic	7		—		—		—		7
Debt securities—domestic government	1		—		—		—		1
Price risk management activities: ^{(1) (4)}
Electricity	—		3		—		—		3
Natural gas	—		3		—		—		3
	$	43	$	19	$	—	$	25	$	87
Liabilities:
Price risk management activities: ^{(1) (4)}
Electricity	$	—	$	5	$	130	$	—	$	135
Natural gas	—		66		9		—		75
	$	—	$	71	$	139	$	—	$	210


(1)	Activities are subject to regulation, with certain gains and losses deferred pursuant to regulatory accounting and included in regulatory assets or regulatory liabilities as appropriate.


(2)	Assets are measured at NAV as a practical expedient and not subject to hierarchy level classification disclosure.


(3)	Excludes insurance policies of $28 million, which are recorded at cash surrender value.


(4)	For further information regarding price risk management derivatives, see Note 6, Risk Management.

The fair values of the Company’s pension plan assets and other postretirement benefit plan assets by asset category are as follows (in millions):



	Level 1		Level 2		Level 3		Other *		Total
As of December 31, 2018:
Defined Benefit Pension Plan assets:
Equity securities—Domestic	$	67	$	—	$	—	$	—	$	67
Investments measured at NAV:
Money market funds	—		—		—		5		5
Collective trust funds	—		—		—		463		463
Private equity funds	—		—		—		11		11
	$	67	$	—	$	—	$	479	$	546
Other Postretirement Benefit Plans assets:
Money market funds	$	3	$	—	$	—	$	—	$	3
Equity securities:
Domestic	—		3		—		—		3
International	8		—		—		—		8
Debt securities—Domestic government	—		5		—		—		5
Investments measured at NAV:
Money market funds	—		—		—		4		4
Collective trust funds	—		—		—		7		7
	$	11	$	8	$	—	$	11	$	30
As of December 31, 2017:
Defined Benefit Pension Plan assets:
Equity securities—Domestic	$	83	$	—	$	—	$	—	$	83
Investments measured at NAV:
Money market funds	—		—		—		5		5
Collective trust funds	—		—		—		528		528
Private equity funds	—		—		—		13		13
	$	83	$	—	$	—	$	546	$	629
Other Postretirement Benefit Plans assets:
Money market funds	$	3	$	—	$	—	$	—	$	3
Equity securities:
Domestic	—		3		—		—		3
International	10		—		—		—		10
Debt securities—Domestic government	—		5		—		—		5
Investments measured at NAV:
Money market funds	—		—		—		4		4
Collective trust funds	—		—		—		8		8
	$	13	$	8	$	—	$	12	$	33


*	Assets are measured at NAV as a practical expedient and not subject to hierarchy level classification disclosure.

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

The following tables provide certain information with respect to the Company’s defined benefit pension plan, other postretirement benefits, and NQBP as of and for the years ended December 31, 2018 and 2017. Information related to the Other NQBP is not included in the following tables (dollars in millions):



	Defined Benefit Pension Plan						Other Postretirement Benefits						Non-Qualified Benefit Plans
	2018			2017			2018			2017			2018			2017
Benefit obligation:
As of January 1	$	869		$	797		$	78		$	73		$	27		$	27
Service cost	19			17			2			2			—			—
Interest cost	32			33			3			3			1			1
Participants’ contributions	—			—			2			2			—			—
Actuarial loss (gain)	(67		)	60			(7		)	3			(1		)	1
Contractual termination benefits	—			—			—			1			—			—
Benefit payments	(39		)	(36		)	(6		)	(6		)	(3		)	(2		)
Administrative expenses	(3		)	(2		)	—			—			—			—
As of December 31	$	811		$	869		$	72		$	78		$	24		$	27
Fair value of plan assets:
As of January 1	$	629		$	559		$	33		$	30		$	17		$	16
Actual return on plan assets	(50		)	106			(2		)	4			(1		)	1
Company contributions	9			2			3			3			3			2
Participants’ contributions	—			—			2			2			—			—
Benefit payments	(39		)	(36		)	(6		)	(6		)	(3		)	(2		)
Administrative expenses	(3		)	(2		)	—			—			—			—
As of December 31	$	546		$	629		$	30		$	33		$	16		$	17
Unfunded position as of December 31	$	(265	)	$	(240	)	$	(42	)	$	(45	)	$	(8	)	$	(10	)
Accumulated benefit plan obligation as of December 31	$	734		$	778		N/A			N/A			$	24		$	27
Classification in consolidated balance sheet:
Noncurrent asset	$	—		$	—		$	—		$	—		$	16		$	17
Current liability	—			—			—			—			(2		)	(2		)
Noncurrent liability	(265		)	(240		)	(42		)	(45		)	(22		)	(25		)
Net liability	$	(265	)	$	(240	)	$	(42	)	$	(45	)	$	(8	)	$	(10	)
Amounts included in comprehensive income:
Net actuarial loss (gain)	$	25		$	(4	)	$	(4	)	$	—		$	(1	)	$	1
Amortization of net actuarial loss	(17		)	(13		)	—			—			(1		)	(1		)
	$	8		$	(17	)	$	(4	)	$	—		$	(2	)	$	—
Amounts included in AOCL*:
Net actuarial loss (gain)	$	226		$	218		$	(4	)	$	(1	)	$	11		$	13
Prior service cost	—			—			—			—			—			—
	$	226		$	218		$	(4	)	$	(1	)	$	11		$	13



	Defined Benefit Pension Plan				Other Postretirement Benefits						Non-Qualified Benefit Plans
	2018		2017		2018			2017			2018		2017
Assumptions used:
Discount rate for benefit obligation	4.25	%	3.65	%	4.10	%	-	3.42	%	-	4.25	%	3.65	%
					4.26	%		3.70	%
Discount rate for benefit cost	3.65	%	4.17	%	3.42	%	-	3.75	%	-	3.65	%	4.17	%
					3.70	%		4.23	%
Weighted average rate of compensation increase for benefit obligation	3.65	%	3.65	%	4.58	%		4.58	%		N/A		N/A
Weighted average rate of compensation increase for benefit cost	3.65	%	3.65	%	4.58	%		4.58	%		N/A		N/A
Long-term rate of return on plan assets for benefit cost	7.00	%	7.50	%	6.20	%		6.26	%		N/A		N/A

* Amounts included in AOCL related to the Company’s defined benefit pension plan and other postretirement benefits are transferred to Regulatory assets due to the future recoverability from retail customers. Accordingly, as of the balance sheet date, such amounts are included in Regulatory assets.

Schedule of Net Benefit Costs [Table Text Block]

Net periodic benefit cost consists of the following for the years ended December 31 (in millions):



	Defined Benefit Pension Plan									Other Postretirement Benefits									Non-Qualified Benefit Plans
	2018			2017			2016			2018			2017			2016			2018		2017		2016
Service cost	$	19		$	17		$	16		$	2		$	2		$	2		$	—	$	—	$	—
Interest cost on benefit obligation	32			33			33			3			3			4			1		1		1
Expected return on plan assets	(42		)	(42		)	(40		)	(1		)	(2		)	(2		)	—		—		—
Amortization of prior service cost	—			—			—			—			—			1			—		—		—
Amortization of net actuarial loss	17			13			14			—			—			—			1		1		1
Net periodic benefit cost	$	26		$	21		$	23		$	4		$	3		$	5		$	2	$	2	$	2

Schedule of Expected Benefit Payments [Table Text Block]

The following table summarizes the benefits expected to be paid to participants in each of the next five years and in the aggregate for the five years thereafter (in millions):



	Payments Due
	2019		2020		2021		2022		2023		2024 - 2028
Defined benefit pension plan	$	41	$	42	$	44	$	45	$	45	$	238
Other postretirement benefits	5		5		5		5		6		22
Non-qualified benefit plans	2		2		2		2		2		10
Total	$	48	$	49	$	51	$	52	$	53	$	270