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Employee Postretirement Benefits (Tables)
9 Months Ended
Sep. 30, 2016
Compensation And Retirement Disclosure [Abstract]  
Schedule of Net Periodic Benefit Cost

Included in the table below is the periodic expense for pension and other postretirement benefits offered by the company. Amounts disclosed for pension benefits include the amounts related to the qualified pension plan and the non-qualified, non-contributory SERP.

 

Pension Expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(millions)

Pension Benefits

 

 

Other Postretirement Benefits

 

Three months ended Sept. 30,

2016

 

 

2015

 

 

2016

 

 

2015

 

Components of net periodic benefit expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

$

4.9

 

 

$

6.7

 

 

$

0.5

 

 

$

0.6

 

Interest cost

 

7.2

 

 

 

6.5

 

 

 

2.0

 

 

 

2.0

 

Expected return on assets

 

(11.5

)

 

 

(9.1

)

 

 

(0.3

)

 

 

(0.3

)

Amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior service (benefit) cost

 

0.0

 

 

 

(0.1

)

 

 

(0.6

)

 

 

(0.6

)

Actuarial loss

 

4.8

 

 

 

3.2

 

 

 

0.1

 

 

 

0.0

 

Regulatory asset

 

0.0

 

 

 

0.0

 

 

 

0.3

 

 

 

0.3

 

Curtailment cost

 

0.0

 

 

 

0.0

 

 

 

0.0

 

 

 

0.0

 

Settlement cost

 

0.0

 

 

 

0.0

 

 

 

0.0

 

 

 

0.0

 

Net pension expense recognized in the

   TECO Energy Consolidated Condensed Statements of Income

$

5.4

 

 

$

7.2

 

 

$

2.0

 

 

$

2.0

 

Nine months ended Sept. 30,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Components of net periodic benefit expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

$

13.9

 

 

$

17.6

 

 

$

1.4

 

 

$

1.7

 

Interest cost

 

23.6

 

 

 

22.6

 

 

 

6.4

 

 

 

6.1

 

Expected return on assets

 

(34.2

)

 

 

(32.4

)

 

 

(0.9

)

 

 

(0.8

)

Amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior service (benefit) cost

 

0.2

 

 

 

(0.2

)

 

 

(1.9

)

 

 

(1.8

)

Actuarial loss

 

11.7

 

 

 

11.4

 

 

 

0.1

 

 

 

0.0

 

Regulatory asset

 

0.0

 

 

 

0.0

 

 

 

0.8

 

 

 

0.8

 

Curtailment cost

 

1.3

 

 

 

0.0

 

 

 

0.0

 

 

 

0.0

 

Settlement cost

 

0.6

 

 

 

0.0

 

 

 

0.0

 

 

 

0.0

 

Net pension expense recognized in the

   TECO Energy Consolidated Condensed Statements of Income

$

17.1

 

 

$

19.0

 

 

$

5.9

 

 

$

6.0