EMPLOYEE BENEFIT PLANS

6 Months Ended

Jun. 30, 2015

Pension and Other Postretirement Benefit Plans

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

Components of net periodic benefit cost recorded by the Company were as follows: 

	Pension Benefits						Other Postretirement Benefits
Millions of dollars	2015			2014			2015		2014
Three months ended June 30,
Service cost	$	5.8		$	5.0		$	1.4	$	1.3
Interest cost	9.5			10.2			2.9		3.1
Expected return on assets	(15.5		)	(16.8		)	—		—
Prior service cost amortization	1.0			1.0			0.1		0.1
Amortization of actuarial losses	3.5			1.3			0.6		0.1
Net periodic benefit cost	$	4.3		$	0.7		$	5.0	$	4.6

Six months ended June 30,
Service cost	$	11.5		$	10.0		$	2.8	$	2.5
Interest cost	19.1			20.4			5.8		6.2
Expected return on assets	(31.0		)	(33.6		)	—		—
Prior service cost amortization	2.0			2.0			0.2		0.2
Amortization of actuarial losses	7.0			2.6			1.1		0.2
Net periodic benefit cost	$	8.6		$	1.4		$	9.9	$	9.1

No significant contribution to the pension trust is expected for the foreseeable future, nor is a limitation on benefit payments expected to apply. SCE&G recovers current pension costs through either a rate rider that may be adjusted annually for retail electric operations or through cost of service rates for gas operations.

SCEG

Pension and Other Postretirement Benefit Plans

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

Consolidated SCE&G participates in SCANA’s noncontributory defined benefit pension plan, which covers the majority of all regular, full-time employees, and also participates in SCANA’s unfunded postretirement health care and life insurance programs, which provide benefits to retired employees.  Components of net periodic benefit cost recorded by Consolidated SCE&G were as follows:

	Pension Benefits						Other Postretirement Benefits
Millions of dollars	2015			2014			2015		2014
Three months ended June 30,
Service cost	$	4.6		$	4.0		$	1.1	$	1.0
Interest cost	8.0			8.6			2.3		2.4
Expected return on assets	(13.0		)	(14.1		)	—		—
Prior service cost amortization	0.8			0.8			0.1		0.1
Amortization of actuarial losses	3.0			1.1			0.4		0.1
Net periodic benefit cost	$	3.4		$	0.4		$	3.9	$	3.6

Six months ended June 30,
Service cost	$	9.2		$	8.0		$	2.2	$	2.0
Interest cost	16.0			17.2			4.6		4.8
Expected return on assets	(26.1		)	(28.3		)	—		—
Prior service cost amortization	1.7			1.7			0.1		0.2
Amortization of actuarial losses	6.0			2.2			0.9		0.2
Net periodic benefit cost	$	6.8		$	0.8		$	7.8	$	7.2

No significant contribution to the pension trust is expected for the foreseeable future, nor is a limitation on benefit payments expected to apply. SCE&G recovers current pension costs through either a rate rider that may be adjusted annually for retail electric operations or through cost of service rates for gas operations.