Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 21, 2014 | Jun. 28, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Central Index Key | '0000073020 | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Registrant Name | 'Northwest Natural Gas Co. | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 27,099,729 | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Public Float | ' | ' | $1,131,505,776 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating revenues [Abstract] | ' | ' | ' |
Operating revenues | $758,518 | $730,607 | $828,055 |
Operating expenses: [Abstract] | ' | ' | ' |
Cost of gas | 373,298 | 355,335 | 458,508 |
Operations and maintenance | 136,613 | 129,477 | 125,417 |
General taxes | 29,956 | 30,598 | 29,281 |
Depreciation and amortization | 75,905 | 73,017 | 70,004 |
Total operating expenses | 615,772 | 588,427 | 683,210 |
Income from operations | 142,746 | 142,180 | 144,845 |
Other income and expense, net | 4,669 | 3,159 | 3,112 |
Interest expense, net | 45,172 | 43,157 | 42,088 |
Income before income taxes | 102,243 | 102,182 | 105,869 |
Income tax expense | 41,705 | 43,403 | 42,825 |
Net income | 60,538 | 58,779 | 63,044 |
Other comprehensive income: [Abstract] | ' | ' | ' |
Change in employee benefit plan liability, net of taxes of ($1,304) for 2013, $1,339 for 2012, and $1,161 for 2011 | 1,998 | -2,156 | -1,779 |
Amortization of non-qualified employee benefit plan liability, net of taxes of ($608) for 2013, ($434) for 2012, and ($383) for 2011 | 935 | 665 | 583 |
Comprehensive income | $63,471 | $57,288 | $61,848 |
Average common shares outstanding: [Abstract] | ' | ' | ' |
Basic | 26,974 | 26,831 | 26,687 |
Diluted | 27,027 | 26,907 | 26,744 |
Earnings per share of common stock: [Abstract] | ' | ' | ' |
Basic | $2.24 | $2.19 | $2.36 |
Diluted | $2.24 | $2.18 | $2.36 |
Dividends declared per share of common stock | $1.83 | $1.79 | $1.75 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parentheticals) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Statement Parentheticals [Abstract] | ' | ' | ' |
Change in employee benefit plan liability, tax | ($1,304) | $1,339 | $1,161 |
Amortization of non-qualified employee benefit plan liability, tax | ($608) | ($434) | ($383) |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: [Abstract] | ' | ' |
Cash and cash equivalents | $9,471 | $8,923 |
Accounts receivable | 81,889 | 61,229 |
Accrued unbilled revenue | 61,527 | 56,955 |
Allowance for uncollectible accounts | -1,656 | -2,518 |
Regulatory assets | 22,635 | 52,448 |
Derivative instruments | 5,311 | 1,950 |
Inventories | 60,669 | 67,602 |
Gas reserves | 20,646 | 14,966 |
Income taxes receivable | 3,534 | 2,552 |
Deferred tax assets | 45,241 | 0 |
Other current assets | 21,181 | 19,592 |
Total current assets | 330,448 | 283,699 |
Non-current assets: [Abstract] | ' | ' |
Property, plant, and equipment | 2,918,739 | 2,786,008 |
Less: Accumulated depreciation | 855,865 | 812,396 |
Total property, plant, and equipment, net | 2,062,874 | 1,973,612 |
Gas reserves | 121,998 | 84,693 |
Regulatory assets | 369,603 | 382,255 |
Derivative instruments | 1,880 | 3,639 |
Other investments | 67,851 | 67,667 |
Restricted cash | 4,000 | 4,000 |
Other non-current assets | 12,257 | 13,555 |
Total non-current assets | 2,640,463 | 2,529,421 |
Total assets | 2,970,911 | 2,813,120 |
Current liabilities: [Abstract] | ' | ' |
Short-term debt | 188,200 | 190,250 |
Current maturities of long-term debt | 60,000 | 0 |
Accounts payable | 96,126 | 85,613 |
Taxes accrued | 10,856 | 9,588 |
Interest accrued | 7,103 | 5,953 |
Regulatory liabilities | 28,335 | 20,792 |
Derivative instruments | 1,891 | 10,796 |
Other current liabilities | 40,280 | 45,444 |
Total current liabilities | 432,791 | 368,436 |
Long-term debt | 681,700 | 691,700 |
Deferred credits and other non-current liabilities: [Abstract] | ' | ' |
Deferred tax liabilities | 532,036 | 444,377 |
Regulatory liabilities | 303,485 | 288,113 |
Pension and other postretirement benefit liabilities | 149,354 | 215,792 |
Derivative instruments | 615 | 578 |
Other non-current liabilities | 119,058 | 74,497 |
Total deferred credits and other non-current liabilities | 1,104,548 | 1,023,357 |
Commitments and contingencies (see Note 14 and Note 15) | 0 | 0 |
Equity: [Abstract] | ' | ' |
Common stock - no par value; authorized 100,000 shares; issued and outstanding 27,075 and 26,917 at December 31, 2013 and 2012, respectively | 364,549 | 356,571 |
Retained earnings | 393,681 | 382,347 |
Accumulated other comprehensive loss | -6,358 | -9,291 |
Total equity | 751,872 | 729,627 |
Total liabilities and equity | $2,970,911 | $2,813,120 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Common Stock Shares Authorized | 100,000,000 | 100,000,000 | ' | ' |
Common Stock, Shares, Outstanding | 27,075,000 | 26,917,000 | 26,756,000 | 26,668,000 |
Consolidated_Statement_of_Shar
Consolidated Statement of Shareholders' Equity (USD $) | Total | Common Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands, unless otherwise specified | ||||
Balance at Dec. 31, 2010 | $691,625 | $342,978 | $355,251 | ($6,604) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Comprehensive income (loss) | 61,848 | 0 | 63,044 | -1,196 |
Dividends paid on common stock | -46,690 | 0 | -46,690 | 0 |
Tax expense from employee stock option plan | -26 | -26 | 0 | 0 |
Stock-based compensation | 1,769 | 1,769 | 0 | 0 |
Issuance of common stock | 3,632 | 3,632 | 0 | 0 |
Common stock expense | 0 | 30 | -30 | 0 |
Balance at Dec. 31, 2011 | 712,158 | 348,383 | 371,575 | -7,800 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Comprehensive income (loss) | 57,288 | 0 | 58,779 | -1,491 |
Dividends paid on common stock | -48,007 | 0 | -48,007 | 0 |
Tax expense from employee stock option plan | -149 | -149 | 0 | 0 |
Stock-based compensation | 1,291 | 1,291 | 0 | 0 |
Issuance of common stock | 7,046 | 7,046 | 0 | 0 |
Balance at Dec. 31, 2012 | 729,627 | 356,571 | 382,347 | -9,291 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Comprehensive income (loss) | 63,471 | 0 | 60,538 | 2,933 |
Dividends paid on common stock | -49,204 | 0 | -49,204 | 0 |
Tax expense from employee stock option plan | -242 | -242 | 0 | 0 |
Stock-based compensation | 2,169 | 2,169 | 0 | 0 |
Issuance of common stock | 6,051 | 6,051 | 0 | 0 |
Balance at Dec. 31, 2013 | $751,872 | $364,549 | $393,681 | ($6,358) |
Consolidated_Statement_of_Cash
Consolidated Statement of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating activities: [Abstract] | ' | ' | ' |
Net income | $60,538 | $58,779 | $63,044 |
Adjustments to reconcile net income to cash provided by operations: [Abstract] | ' | ' | ' |
Depreciation and amortization | 75,905 | 73,017 | 70,004 |
Regulatory amortization of gas reserves | 11,089 | 6,340 | 1,143 |
Deferred tax liabilities, net | 46,483 | 42,079 | 46,319 |
Non-cash expenses related to qualified defined benefit pension plans | 5,666 | 5,448 | 7,191 |
Contributions to qualified defined benefit pension plans | -11,700 | -23,500 | -22,045 |
Deferred environmental expenditures, net of recoveries | -16,679 | -12,503 | 25,586 |
Other | -2,580 | -2,350 | -863 |
Changes in assets and liabilities: [Abstract] | ' | ' | ' |
Receivables | -26,094 | 22,170 | -6,246 |
Inventories | 6,933 | 6,761 | 6,022 |
Taxes accrued | 286 | 3,334 | 34,189 |
Accounts payable | 7,422 | -602 | 148 |
Interest accrued | 1,150 | 96 | 675 |
Deferred gas costs | -5,245 | -17,644 | 8,565 |
Other, net | 23,216 | 7,413 | -270 |
Cash provided by operating activities | 176,390 | 168,838 | 233,462 |
Investing activities: [Abstract] | ' | ' | ' |
Capital expenditures | -138,924 | -132,029 | -100,534 |
Utility gas reserves | -54,077 | -54,085 | -50,597 |
Proceeds from sale of assets | 8,638 | 0 | 0 |
Restricted cash | 0 | 0 | -3,076 |
Other | 2,231 | 1,437 | 1,142 |
Cash used in investing activities | -182,132 | -184,677 | -153,065 |
Financing activities: [Abstract] | ' | ' | ' |
Common stock issued, net | 5,964 | 6,758 | 3,040 |
Long-term debt issued | 50,000 | 50,000 | 90,000 |
Long-term debt retired | 0 | -40,000 | -10,000 |
Change in short-term debt | -2,050 | 48,650 | -115,835 |
Cash dividend payments on common stock | -49,204 | -48,007 | -46,690 |
Other | 1,580 | 1,528 | 1,464 |
Cash provided by (used in) financing activities | 6,290 | 18,929 | -78,021 |
Increase in cash and cash equivalents | 548 | 3,090 | 2,376 |
Cash and cash equivalents, beginning of period | 8,923 | 5,833 | 3,457 |
Cash and cash equivalents, end of period | 9,471 | 8,923 | 5,833 |
Supplemental disclosure of cash flow information: [Abstract] | ' | ' | ' |
Interest paid | 44,022 | 43,061 | 41,413 |
Income taxes paid | $870 | $2,979 | $1,756 |
Organization_and_Principles_of
Organization and Principles of Consolidation | 12 Months Ended |
Dec. 31, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
1. ORGANIZATION AND PRINCIPLES OF CONSOLIDATION | |
The accompanying consolidated financial statements represent the consolidated results of Northwest Natural Gas Company (NW Natural or the Company) and all companies that we directly or indirectly control, either through majority ownership or otherwise. We have two core businesses: our regulated local gas distribution business, referred to as the utility segment, which serves residential, commercial, and industrial customers in Oregon and southwest Washington; and our gas storage businesses, referred to as the gas storage segment, which provides storage services for utilities, gas marketers, electric generators, and large industrial users from storage facilities located in Oregon and California. In addition, we have investments and other non-utility activities that we aggregate and report as other. | |
Our direct and indirect wholly-owned subsidiaries include NW Natural Energy, LLC (NWN Energy), NW Natural Gas Storage, LLC (NWN Gas Storage), Gill Ranch Storage, LLC (Gill Ranch), NNG Financial Corporation (NNG Financial), Northwest Energy Corporation (Energy Corp), and NW Natural Gas Reserves, LLC (NWN Gas Reserves). Investments in corporate joint ventures and partnerships that we do not directly or indirectly control, and for which we are not the primary beneficiary, are accounted for under the equity method, which includes NWN Energy’s investment in Palomar Gas Holdings, LLC (PGH) and NNG Financial's investment in Kelso-Beaver (KB) Pipeline. NW Natural and its affiliated companies are collectively referred to herein as NW Natural. The consolidated financial statements are presented after elimination of all significant intercompany balances and transactions, except for amounts required to be included under regulatory accounting standards to reflect the effect of such regulation. In this report, the term “utility” is used to describe our regulated gas distribution business, and the term “non-utility” is used to describe our gas storage businesses and other non-utility investments and business activities. | |
During the first quarter of 2013, we identified an error in the rate used to calculate interest on regulatory assets. We assessed the materiality of this error on prior period financial statements and concluded it was not material to any prior annual or interim periods; however, the cumulative impact would have been material to the annual and interim periods for 2013, if corrected in 2013. As a result, in accordance with accounting standards, we have revised our prior period financial statements as shown in Note 16 to correct this error. | |
Certain prior year balances in our consolidated financial statements and notes have been reclassified to conform with the current presentation. These reclassifications had no impact on our prior year’s consolidated results of operations, financial condition or cash flows. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Significant Accounting Policies [Text Block] | ' | ||||||||
2. SIGNIFICANT ACCOUNTING POLICIES UPDATE | |||||||||
Use of Estimates | |||||||||
The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America (GAAP) requires management to make estimates and assumptions that affect reported amounts in the consolidated financial statements and accompanying notes. Actual amounts could differ from those estimates, and changes would most likely be reported in future periods. Management believes that the estimates and assumptions used are reasonable. | |||||||||
Industry Regulation | |||||||||
Our principal businesses are the distribution of natural gas, which is regulated by the OPUC and WUTC, and natural gas storage services, which are regulated by either the FERC or the CPUC, and to a certain extent by the OPUC. Accounting records and practices of our regulated businesses conform to the requirements and uniform system of accounts prescribed by these regulatory authorities in accordance with GAAP. Our businesses regulated by the OPUC, WUTC and FERC earn a reasonable return on invested capital from approved cost-based rates, while our business regulated by the CPUC earns a return to the extent we are able to charge competitive prices above our costs (i.e. market-based rates). | |||||||||
In applying regulatory accounting principles, we capitalize or defer certain costs and revenues as regulatory assets and liabilities pursuant to orders of the OPUC or WUTC, which provides for the recovery of revenues or expenses from, or refunds to, utility customers in future periods, including a return or a carrying charge in certain cases. | |||||||||
At December 31, the amounts deferred as regulatory assets and liabilities were as follows: | |||||||||
Regulatory Assets | |||||||||
In thousands | 2013 | 2012 | |||||||
Current: | |||||||||
Unrealized loss on derivatives(1) | $ | 1,891 | $ | 10,796 | |||||
Other(2) | 20,744 | 41,652 | |||||||
Total current | $ | 22,635 | $ | 52,448 | |||||
Non-current: | |||||||||
Unrealized loss on derivatives(1) | $ | 615 | $ | 578 | |||||
Pension balancing(3) | 25,713 | 14,727 | |||||||
Income tax asset | 51,814 | 55,879 | |||||||
Pension and other postretirement benefit liabilities(3) | 125,855 | 182,688 | |||||||
Environmental costs(4) | 148,389 | 121,144 | |||||||
Other(2) | 17,217 | 7,239 | |||||||
Total non-current | $ | 369,603 | $ | 382,255 | |||||
Regulatory Liabilities | |||||||||
In thousands | 2013 | 2012 | |||||||
Current: | |||||||||
Gas costs | $ | 7,510 | $ | 9,100 | |||||
Unrealized gain on derivatives(1) | 5,290 | 1,950 | |||||||
Other(2) | 15,535 | 9,742 | |||||||
Total current | $ | 28,335 | $ | 20,792 | |||||
Non-current: | |||||||||
Gas costs | $ | 2,172 | $ | — | |||||
Unrealized gain on derivatives(1) | 1,880 | 3,639 | |||||||
Accrued asset removal costs | 296,294 | 281,213 | |||||||
Other(2) | 3,139 | 3,261 | |||||||
Total non-current | $ | 303,485 | $ | 288,113 | |||||
(1) | Unrealized gains or losses on derivatives are non-cash items and, therefore, do not earn a rate of return or a carrying charge. These amounts are recoverable through utility rates as part of the annual PGA mechanism when realized at settlement. | ||||||||
(2) | Other primarily consists of several deferrals and amortizations under other approved regulatory mechanisms. The accounts being amortized typically earn a rate of return or carrying charge. | ||||||||
(3) | Certain utility pension costs are approved for regulatory deferral, including amounts recorded to the pension balancing account, to mitigate the effects of higher and lower pension expenses. Pension costs that are deferred include an interest component when recognized in net periodic benefit costs. See Note 8. | ||||||||
(4) | Environmental costs relate to specific sites approved for regulatory deferral by the OPUC and WUTC. In Oregon, we earn a carrying charge on amounts paid, whereas amounts accrued but not yet paid do not earn a carrying charge until expended. In Washington, a carrying charge related to deferred amounts will be determined in a future proceeding. For further information on environmental matters, see Note 15. | ||||||||
The amortization period for our regulatory assets and liabilities ranges from less than one year to an indeterminable period. Our regulatory deferrals for gas costs payable are generally amortized over 12 months beginning each November 1 following the gas contract year during which the deferred gas costs are recorded. Similarly, most of our regulatory deferred accounts are amortized over 12 months. However, certain regulatory account balances, such as income taxes, environmental costs, pension liabilities and accrued asset removal costs, are large and tend to be amortized over longer periods once we have agreed upon an amortization period with the respective regulatory agency. | |||||||||
We believe all costs incurred and deferred at December 31, 2013 are prudent. We annually review all regulatory assets and liabilities for recoverability and more often if circumstances warrant. If we should determine that all or a portion of these regulatory assets or liabilities no longer meet the criteria for continued application of regulatory accounting, then we would be required to write off the net unrecoverable balances in the period such determination is made. | |||||||||
New Accounting Standards | |||||||||
Recently Adopted Standards | |||||||||
BALANCE SHEET OFFSETTING. In December 2011, the Financial Accounting Standards Board (FASB) issued authoritative guidance regarding the offsetting of assets and liabilities on the balance sheet. The standard is intended to provide more comparable guidance between the GAAP and international accounting standards by requiring entities to disclose both gross and net amounts for assets and liabilities offset on the balance sheet as well as other disclosures concerning their enforceable master netting arrangements. This guidance was effective for annual reporting periods beginning on or after January 1, 2013. The adoption of this standard did not have a material effect on our financial statement disclosures. See Note 13. | |||||||||
RECLASSIFICATIONS FROM ACCUMULATED OTHER COMPREHENSIVE INCOME. In February 2013, the FASB issued authoritative guidance, which requires an entity to present significant amounts reclassified from each component of accumulated other comprehensive income (AOCI). This standard is intended to improve the reporting of these reclassifications by presenting the information concerning amounts reclassified into net income from AOCI in a single location. This information has historically has been presented throughout the financial statements. This guidance was effective for reporting periods beginning after December 15, 2012. The adoption of this standard did not have a material effect on our financial statement disclosures. See Note 8. | |||||||||
Recently Issued Accounting Pronouncements | |||||||||
OBLIGATIONS RESULTING FROM JOINT AND SEVERAL LIABILITY ARRANGEMENTS. In February 2013, the FASB issued guidance regarding the recognition, measurement and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date. Under the new guidance, an entity is required to measure fixed obligations as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors plus any additional amount the reporting entity expects to pay on behalf of its co-obligors. In addition, an entity must disclose the nature and amount of the obligation as well as other information about the obligations. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. We are currently assessing the impact, if any, of this guidance on our financial position, results of operations, or disclosures. | |||||||||
PRESENTATION OF UNRECOGNIZED TAX BENEFIT. In July 2013, the FASB issued guidance that requires an unrecognized tax benefit, or a portion of an unrecognized tax benefit, be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except under certain circumstances. The new guidance is effective for fiscal years and interim periods within those years, beginning after December 15, 2013. This guidance is not expected to have an impact on our financial position, results of operations, and disclosures. | |||||||||
Accounting Policies | |||||||||
Plant, Property and Accrued Asset Removal Costs | |||||||||
Plant and property are stated at cost, including capitalized labor, materials and overhead. In accordance with regulatory accounting standards, the cost of acquiring and constructing long-lived plant and property generally includes an allowance for funds used during construction (AFUDC) or capitalized interest. AFUDC represents the regulatory financing cost incurred when debt and equity funds are used for construction (see “Allowance for Funds Used During Construction” below). When constructed assets are subject to market-based rates rather than cost-based rates, the financing costs incurred during construction are included in capitalized interest in accordance with GAAP, not as regulatory financing costs under AFUDC. | |||||||||
In accordance with long-standing regulatory treatment, our depreciation rates consist of three components: one based on the average service life of the asset, a second based on the estimated salvage value of the asset, and a third based on the asset’s estimated cost of removal. We collect, through rates, the estimated cost of removal on certain regulated properties through depreciation expense, with a corresponding offset to accumulated depreciation. These removal costs are non-legal obligations as defined by regulatory accounting guidance. Therefore, we have included these costs as non-current regulatory liabilities rather than as accumulated depreciation on our consolidated balance sheets. In the rate setting process, the liability for removal costs is treated as a reduction to the net rate base upon which the regulated utility has the opportunity to earn its allowed rate of return. | |||||||||
The costs of utility plant retired or otherwise disposed of are removed from utility plant and charged to accumulated depreciation for recovery or refund through future rates. Gains from the sale of regulated assets are generally deferred and refunded to customers. For non-utility assets, we record a gain or loss upon the disposal of the property that is recorded in other income and expense, net in the consolidated statements of comprehensive income. | |||||||||
Our provision for depreciation of utility property, plant and equipment is recorded under the group method on a straight-line basis with rates computed in accordance with depreciation studies approved by regulatory authorities. The weighted average depreciation rate for utility assets in service was approximately 2.8% in 2013, 2012, and 2011, reflecting the approximate weighted average economic life of the property. This includes 2013 weighted average depreciation rates for the following asset categories: 2.7% for transmission and distribution plant, 2.2% for gas storage facilities, 4.3% for general plant, and 4.1% for intangible and other fixed assets. | |||||||||
AFUDC. Certain additions to utility plant include AFUDC, which represents the net cost of debt and equity funds used during construction. AFUDC is calculated using actual interest rates for debt and authorized rates for ROE, if applicable. If short-term debt balances are less than the total balance of construction work in progress, then a composite AFUDC rate is used to represent interest on all debt funds, shown as a reduction to interest charges, and on ROE funds, shown as other income. While cash is not immediately recognized from recording AFUDC, it is realized in future years through rate recovery resulting from the higher utility cost of service. Our composite AFUDC rates were 0.3% in 2013 and 2012, and 0.5% in 2011. | |||||||||
IMPAIRMENT OF LONG-LIVED ASSETS. We review the carrying value of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of the assets might not be recoverable. Factors that would necessitate an impairment assessment of long-lived assets include a significant adverse change in the extent or manner in which the asset is used, a significant adverse change in legal factors or business climate that could affect the value of the asset, or a significant decline in the observable market value or expected future cash flows of the asset, among others. | |||||||||
If such factors indicate a potential impairment, we assess the recoverability by determining if the carrying value of the asset exceeds the sum of the projected future cash flows over the remaining economic life of the asset. An asset is determined to be impaired when the carrying value is not recoverable through undiscounted future cash flows, and in those cases, we would estimate the fair value of the asset using appropriate valuation methodologies, which may include an estimate of discounted cash flows. Any impairment would be measured as the difference between the asset’s carrying amount and its estimated fair value. | |||||||||
While we determined there were no material impairments of long-lived assets during the year ended December 31, 2013, if our gas storage facilities experience sustained decreases in future cash flows due to a prolonged, slow recovery of the gas storage market, future assessments could result in an impairment. | |||||||||
Cash and Cash Equivalents | |||||||||
For purposes of reporting cash flows, cash and cash equivalents include cash on hand plus highly liquid investment accounts with original maturity dates of three months or less. At December 31, 2013 and 2012, outstanding checks of approximately $2.8 million and $2.3 million, respectively, were included in accounts payable. | |||||||||
Revenue Recognition and Accrued Unbilled Revenue | |||||||||
Utility revenues, derived primarily from the sale and transportation of natural gas, are recognized upon delivery of gas commodity or service to customers. Revenues include accruals for gas delivered but not yet billed to customers based on estimates of deliveries from meter reading dates to month end (accrued unbilled revenue). Accrued unbilled revenue is dependent upon a number of factors that require management’s judgment, including total gas receipts and deliveries, customer use by billing cycle and weather factors. Accrued unbilled revenue is reversed the following month when actual billings occur. Our accrued unbilled revenue at December 31, 2013 and 2012 was $61.5 million and $57.0 million, respectively. | |||||||||
From 2007 through 2010, utility margin also included the recognition of a regulatory adjustment for income taxes paid pursuant to a legislative rule (commonly referred to as SB 408) in effect for certain gas and electric utilities in Oregon. In 2011, SB 408 was repealed and replaced by Senate Bill SB 967. SB 967 required utilities to eliminate amounts accrued under SB 408, which resulted in a one-time pre-tax charge of $7.4 million in 2011. | |||||||||
Non-utility revenues are derived primarily from the gas storage segment. At our Mist underground storage facility, revenues are recognized upon delivery of services to customers. At our Gill Ranch facility, firm storage services resulting from short-term and long-term contracts are typically recognized in revenue ratably over the term of the contract regardless of the actual storage capacity utilized. In addition, we also have asset management service revenue primarily from an independent energy marketing company that optimizes commodity and pipeline capacity release transactions. Under this agreement, guaranteed asset management revenue is recognized using a straight-line, pro-rata methodology over the term of each contract. Revenues earned above the guaranteed amount are recognized as they are earned. See Note 4. | |||||||||
Revenue Taxes | |||||||||
Revenue-based taxes are primarily franchise taxes, which are collected from customers and remitted to taxing authorities. Revenue taxes are included in operating revenues in the statement of comprehensive income. | |||||||||
Accounts Receivable and Allowance for Uncollectible Accounts | |||||||||
Accounts receivable consist primarily of amounts due for natural gas sales and transportation services to utility customers, plus amounts due for gas storage services. With respect to these trade receivables, including accrued unbilled revenue, we establish an allowance for uncollectible accounts (allowance) based on the aging of receivables, collection experience of past due account balances including payment plans, and historical trends of write-offs as a percent of revenues. With respect to large individual customer receivables, a specific allowance is established and recorded when amounts are identified as unlikely to be partially or fully recovered. Inactive accounts are written-off against the allowance after they are 120 days past due or when deemed to be uncollectible. Differences between our estimated allowance and actual write-offs will occur based on a number of factors, including changes in economic conditions, customer creditworthiness and the level of natural gas prices. Each quarter the allowance for uncollectible accounts is adjusted, as necessary, based on information currently available. | |||||||||
Inventories | |||||||||
Utility gas inventories, which consist of natural gas in storage for the utility, are stated at the lower of average cost or net realizable value. The regulatory treatment of utility gas inventories provides for cost recovery in customer rates. Utility gas inventories that are injected into storage are priced into inventory based on actual purchase costs. Utility gas inventories that are withdrawn from storage are charged to cost of gas during the current period at the weighted average inventory cost. | |||||||||
Gas storage inventories, which primarily represent inventories at the Gill Ranch storage facility, consist primarily of natural gas that we received as fuel-in-kind from storage customers. Gas storage inventories are valued at the lower of average cost or net realizable value. Cushion gas is not included in our inventory balances. It is recorded at original cost and classified as a long-term plant asset. | |||||||||
Material and supplies inventories consist of both utility and non-utility inventories and are stated at the lower of average cost or net realizable value. | |||||||||
Our utility and gas storage inventories totaled $51.4 million and $58.8 million at December 31, 2013 and 2012, respectively. At December 31, 2013 and 2012, our materials and supplies inventories totaled $9.3 million and $8.8 million, respectively. | |||||||||
Gas Reserves | |||||||||
Our gas reserves are stated at cost, adjusted for regulatory amortization, with the associated deferred tax benefits recorded as liabilities on the balance sheet. Transactional costs to enter into the agreement and payments by NW Natural to acquire gas reserves are recognized as gas reserves on the balance sheet. The current portion is calculated based on expected gas deliveries within the next fiscal year. We recognize regulatory amortization of this asset on a volumetric basis calculated using the estimated gas reserves and the estimated therms extracted and sold each month. The amortization of gas reserves is recorded to cost of gas along with gas production revenues and production costs. See Note 11. | |||||||||
Derivatives | |||||||||
In accordance with accounting for derivatives and hedges, we measure derivatives at fair value and recognize them as either assets or liabilities on the balance sheet. Accounting for derivatives requires that changes in the fair value be recognized currently in earnings unless specific hedge accounting criteria are met. Accounting for derivatives and hedges provides an exception for contracts intended for normal purchases and normal sales for which physical delivery is probable. In addition, certain derivative contracts are approved by regulatory authorities for recovery or refund through customer rates. Accordingly, the changes in fair value of these approved contracts are deferred as regulatory assets or liabilities pursuant to regulatory accounting principles. Our financial derivatives generally qualify for deferral under regulatory accounting. The Company’s index-priced physical derivative contracts also qualify for regulatory deferral accounting treatment. | |||||||||
Derivative contracts entered into for utility requirements after the annual PGA rate has been set and that PGA year has begun are subject to the PGA incentive sharing mechanism. In Oregon we participate in a PGA sharing mechanism under which we are required to select either an 80% or 90% deferral of higher or lower gas costs such that the impact on current earnings from the gas cost sharing is either 20% or 10% of gas cost differences compared to PGA prices, respectively. For the PGA years in Oregon beginning November 1, 2013, 2012 and 2011, we selected a 90% deferral of gas cost differences. In Washington, 100% of the differences between the PGA prices and actual gas costs are deferred. See Note 13. | |||||||||
Our financial derivatives policy sets forth the guidelines for using selected derivative products to support prudent risk management strategies within designated parameters. Our objective for using derivatives is to decrease the volatility of gas prices, earnings, and cash flows without speculative risk. The use of derivatives is permitted only after the risk exposures have been identified, are determined to exceed acceptable tolerance levels, and are determined necessary to support normal business activities. We do not enter into derivative instruments for trading purposes. | |||||||||
Fair Value | |||||||||
In accordance with fair value accounting, we use the following fair value hierarchy for determining inputs for our debt, pension plan assets and our derivative fair value measurements: | |||||||||
• | Level 1: Valuation is based upon quoted prices for identical instruments traded in active markets; | ||||||||
• | Level 2: Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market; and | ||||||||
• | Level 3: Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect our own estimates of assumptions that market participants would use in valuing the asset or liability. | ||||||||
When developing fair value measurements, it is our policy to use quoted market prices whenever available, or to maximize the use of observable inputs and minimize the use of unobservable inputs when quoted market prices are not available. Fair values are primarily developed using industry-standard models that consider various inputs including: (a) quoted future prices for commodities; (b) forward currency prices; (c) time value; (d) volatility factors; (e) current market and contractual prices for underlying instruments; (f) market interest rates and yield curves; (g) credit spreads; (h) and other relevant economic measures. | |||||||||
Income Tax Expense | |||||||||
NW Natural and its wholly-owned subsidiaries file consolidated federal, state, and local income tax returns. Income taxes are currently allocated based on each entity’s respective taxable income or loss and tax credits as if each entity filed a separate return. We account for income taxes in accordance with accounting standards for income taxes. Accounting for income taxes requires recognition of deferred tax liabilities and assets for the future tax consequences of events that have been included in the consolidated financial statements or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. See Note 9. | |||||||||
Accounting for income taxes also requires recognition of deferred income tax assets and liabilities for temporary differences where regulators prohibit deferred income tax treatment for ratemaking purposes. We have recorded deferred tax liabilities of $56.2 million and $60.3 million at December 31, 2013 and 2012, respectively, to recognize future taxes payable resulting from transactions that have previously been reflected in the financial statements for these temporary differences. Regulatory assets or liabilities corresponding to such additional deferred income tax assets or liabilities may be recorded to the extent we believe they will be recoverable from or payable to customers through the ratemaking process. A corresponding regulatory asset has been recorded which represents the probable future revenue that will result from inclusion in rates charged to customers for taxes which will be paid in the future. The probable future revenue to be recorded takes into consideration the additional future taxes which will be generated by that revenue. Amounts applicable to income taxes due from customers primarily represent differences between the financial statement and tax basis of net utility plant in service and actual removal costs incurred. | |||||||||
Deferred investment tax credits on utility plant additions, which reduce income taxes payable, are deferred for financial statement purposes and amortized over the life of the related plant or lease. | |||||||||
Environmental Contingencies | |||||||||
Loss contingencies are recorded as liabilities when it is probable that a liability has been incurred and the amount of the loss is reasonably estimable in accordance with accounting standards for contingencies. Estimating probable losses requires an analysis of uncertainties that often depend upon judgments about potential actions by third parties. Accruals for loss contingencies are recorded based on an analysis of potential results. | |||||||||
With respect to environmental liabilities and related costs, we develop estimates based on a review of information available from numerous sources, including completed studies and site specific negotiations. It is our policy to accrue the full amount of such liability when information is sufficient to reasonably estimate the amount of probable liability. When information is not available to reasonably estimate the probable liability, or when only the range of probable liabilities can be estimated and no amount within the range is more likely than another, then it is our policy to accrue at the low end of the range. Accordingly, due to numerous uncertainties surrounding the course of environmental remediation and the preliminary nature of several site investigations, in some cases, we may not be able to reasonably estimate the high end of the range of possible loss. In those cases we have disclosed the nature of the potential loss and the fact that the high end of the range cannot be reasonably estimated. | |||||||||
Subsequent Events | |||||||||
See Note 17 for information regarding the Company's environmental insurance settlements. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||
3. EARNINGS PER SHARE | |||||||||||||
Basic earnings per share are computed using net income and the weighted average number of common shares outstanding for each period presented. Diluted earnings per share are computed in the same manner, except it uses the weighted average number of common shares outstanding plus the effects of the assumed exercise of stock options and the payment of estimated stock awards from other stock-based compensation plans that are outstanding at the end of each period presented. Diluted earnings per share are calculated as follows: | |||||||||||||
In thousands, except per share data | 2013 | 2012 | 2011 | ||||||||||
Net income | $ | 60,538 | $ | 58,779 | $ | 63,044 | |||||||
Average common shares outstanding - basic | 26,974 | 26,831 | 26,687 | ||||||||||
Additional shares for stock-based compensation plans (See Note 6) | 53 | 76 | 57 | ||||||||||
Average common shares outstanding - diluted | 27,027 | 26,907 | 26,744 | ||||||||||
Earnings per share of common stock - basic | $ | 2.24 | $ | 2.19 | $ | 2.36 | |||||||
Earnings per share of common stock - diluted | $ | 2.24 | $ | 2.18 | $ | 2.36 | |||||||
Additional information: | |||||||||||||
Antidilutive shares not included in net income per diluted common share calculation | 26 | 1 | 2 | ||||||||||
Segment_Information
Segment Information | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Segment Information [Text Block] | ' | ||||||||||||||||
4. SEGMENT INFORMATION | |||||||||||||||||
We operate in two primary reportable business segments, local gas distribution and gas storage. We also have other investments and business activities not specifically related to one of these two reporting segments, which we aggregate and report as other. We refer to our local gas distribution business as the utility, and our gas storage segment and other as non-utility. Our utility segment also includes NWN Gas Reserves, which is a wholly-owned subsidiary of Energy Corp, and the utility portion of Mist. Our gas storage segment includes NWN Gas Storage, which is a wholly-owned subsidiary of NWN Energy, Gill Ranch, which is a wholly-owned subsidiary of NWN Gas Storage, the non-utility portion of Mist, and all third-party asset management services. Other includes NNG Financial and NWN Energy's equity investment in PGH, which is pursuing development of a cross-Cascades pipeline project (see Other, below). | |||||||||||||||||
Local Gas Distribution | |||||||||||||||||
Our local gas distribution segment is a regulated utility principally engaged in the purchase, sale, and delivery of natural gas and related services to customers in Oregon and southwest Washington. As a regulated utility, we are responsible for building and maintaining a safe and reliable pipeline distribution system, purchasing sufficient gas supplies from producers and marketers, contracting for firm and interruptible transportation of gas over interstate pipelines to bring gas from the supply basins into our service territory, and re-selling the gas to customers subject to rates, terms, and conditions approved by the OPUC or WUTC. Gas distribution also includes taking customer-owned gas and transporting it from interstate pipeline connections, or city gates, to the customers’ end-use facilities for a fee, which is approved by the OPUC or WUTC. Approximately 90% of our customers are located in Oregon and 10% in Washington. On an annual basis, residential and commercial customers typically account for around 60% of our utility’s total volumes delivered and 90% of our utility’s margin. Industrial customers largely account for the remaining volumes and utility margin. A small amount of utility margin is also derived from miscellaneous services, gains or losses from an incentive gas cost sharing mechanism and other service fees. | |||||||||||||||||
Industrial sectors we serve include: pulp, paper and other forest products; the manufacture of electronic, electrochemical and electrometallurgical products; the processing of farm and food products; the production of various mineral products; metal fabrication and casting; the production of machine tools, machinery and textiles; the manufacture of asphalt, concrete and rubber; printing and publishing; nurseries; government and educational institutions; and electric generation. No individual customer or industry group accounts for over 10% of our utility revenues or utility margins. | |||||||||||||||||
Gas Storage | |||||||||||||||||
Our gas storage segment includes natural gas storage services provided to customers primarily from two underground natural gas storage facilities, our Gill Ranch gas storage facility, and the non-utility portion of our Mist gas storage facility. In addition to earning revenue from customer storage contracts, we also use an independent energy marketing company to provide asset management services for utility and non-utility capacity under contractual arrangement, the results of which are included in this business segment. For the years ended December 31, 2013, 2012 and 2011, this business segment derived a majority of its revenues from firm and interruptible gas storage contracts and from asset management services. | |||||||||||||||||
Mist Gas Storage Facility | |||||||||||||||||
Earnings from non-utility assets at our Mist facility in Oregon are primarily related to firm storage capacity revenues. Earnings for the gas storage segment also include revenues, net of amounts shared with core utility customers, from management of utility assets at Mist and upstream capacity when not needed to serve utility customers. In Oregon, the gas storage segment retains 80% of the pre-tax income from these services when the costs of the capacity have not been included in utility rates, or 33% of the pre-tax income when the costs have been included in utility rates. The remaining 20% and 67%, respectively, are credited to a deferred regulatory account for crediting back to utility customers. We have a similar sharing mechanism in Washington for revenue derived from storage and third party asset management services. | |||||||||||||||||
Gill Ranch Gas Storage Facility | |||||||||||||||||
Gill Ranch has a joint project agreement with Pacific Gas and Electric Company (PG&E) to own and operate the Gill Ranch underground natural gas storage facility near Fresno, California. Gill Ranch has a 75% undivided ownership interest in the facility and is also the operator of the facility, which offers storage services to the California market at market-based rates, subject to CPUC regulation including, but not limited to, service terms and conditions and tariff regulations. Although this is a jointly owned property, each owner is independently responsible for financing its share of the Gill Ranch natural gas storage facility. | |||||||||||||||||
Other | |||||||||||||||||
We have immaterial non-utility investments and other business activities which are aggregated and reported as other. Other primarily consists of an equity method investment in a joint venture to build and operate an interstate gas transmission pipeline in Oregon (Palomar) and other pipeline assets in NNG Financial. For more information on Palomar, see Note 12. Other also includes some operating and non-operating revenues and expenses of the parent company that cannot be allocated to utility operations. | |||||||||||||||||
NNG Financial holds certain non-utility financial investments, but its assets primarily consist of an active, wholly-owned subsidiary which owns a 10% interest in an 18-mile interstate natural gas pipeline. NNG Financial’s total assets were $1.2 million and $1.1 million at December 31, 2013 and 2012, respectively. | |||||||||||||||||
Segment Information Summary | |||||||||||||||||
The following table presents summary financial information concerning the reportable segments. Inter-segment transactions are insignificant. | |||||||||||||||||
In thousands | Utility | Gas Storage | Other | Total | |||||||||||||
2013 | |||||||||||||||||
Operating revenues | $ | 727,182 | $ | 31,112 | $ | 224 | $ | 758,518 | |||||||||
Depreciation and amortization | 69,420 | 6,485 | — | 75,905 | |||||||||||||
Income from operations | 128,066 | 14,669 | 11 | 142,746 | |||||||||||||
Net income | 54,920 | 5,569 | 49 | 60,538 | |||||||||||||
Capital expenditures | 137,466 | 1,458 | — | 138,924 | |||||||||||||
Total assets at December 31, 2013 | 2,644,367 | 310,097 | 16,447 | 2,970,911 | |||||||||||||
2012 | |||||||||||||||||
Operating revenues | $ | 699,862 | $ | 30,520 | $ | 225 | $ | 730,607 | |||||||||
Depreciation and amortization | 66,545 | 6,472 | — | 73,017 | |||||||||||||
Income from operations | 128,854 | 13,226 | 100 | 142,180 | |||||||||||||
Net income | 54,049 | 4,521 | 209 | 58,779 | |||||||||||||
Capital expenditures | 130,151 | 1,541 | 337 | 132,029 | |||||||||||||
Total assets at December 31, 2012 | 2,505,655 | 291,568 | 15,897 | 2,813,120 | |||||||||||||
2011 | |||||||||||||||||
Operating revenues | $ | 801,478 | $ | 26,354 | $ | 223 | $ | 828,055 | |||||||||
Depreciation and amortization | 63,843 | 6,161 | — | 70,004 | |||||||||||||
Income from operations | 135,722 | 9,090 | 33 | 144,845 | |||||||||||||
Net income (loss) | 59,673 | 4,101 | (730 | ) | 63,044 | ||||||||||||
Capital expenditures | 94,049 | 6,485 | — | 100,534 | |||||||||||||
Utility Margin | |||||||||||||||||
Utility margin is a financial measure consisting of utility operating revenues less revenue taxes and the associated cost of gas. Cost of gas purchased for utility customers is generally a pass-through cost in the amount of revenues billed to regulated utility customers. By netting costs of gas from utility operating revenues, utility margin provides a key metric used by our chief operating decision maker in assessing the performance of the utility segment. The following table presents additional segment information concerning utility margin. The gas storage and other segments emphasize growth in operating revenues and net income as opposed to margin because these segments do not incur commodity cost of sales like the utility and, therefore, use operating revenues and net income to assess performance. | |||||||||||||||||
In thousands | 2013 | 2012 | 2011 | ||||||||||||||
Utility margin calculation: | |||||||||||||||||
Utility operating revenues | $ | 727,182 | $ | 699,862 | $ | 801,478 | |||||||||||
Less: Utility cost of gas | 373,298 | 355,335 | 458,508 | ||||||||||||||
Utility margin | $ | 353,884 | $ | 344,527 | $ | 342,970 | |||||||||||
Common_Stock
Common Stock | 12 Months Ended | ||
Dec. 31, 2013 | |||
Stockholders' Equity Note [Abstract] | ' | ||
Common Stock [Text Block] | ' | ||
5. COMMON STOCK | |||
Common Stock | |||
As of December 31, 2013 and 2012, we had 100 million shares of common stock authorized. As of December 31, 2013, we had reserved 122,184 shares for issuance of common stock under the Employee Stock Purchase Plan (ESPP) and 96,991 shares under our Dividend Reinvestment and Direct Stock Purchase Plan (DRPP). In the second quarter of 2012, our Restated Stock Option Plan (Restated SOP) was terminated for new stock option grants. There were 492,150 options outstanding at December 31, 2013, which were granted prior to termination of the plan. These options will remain outstanding to the earlier of their forfeiture, exercise or expiration. | |||
Stock Repurchase Program | |||
We have a share repurchase program under which we may purchase our common shares on the open market or through privately negotiated transactions. We currently have Board authorization through May 2014 to repurchase up to an aggregate of 2.8 million shares, but not to exceed $100 million. No shares of common stock were repurchased pursuant to this program during the year ended December 31, 2013. Since the plan’s inception in 2000 a total of 2.1 million shares have been repurchased at a total cost of $83.3 million. | |||
Summary of Changes in Common Stock | |||
The following table shows the changes in the number of shares of our common stock issued and outstanding: | |||
In thousands | Shares | ||
Balance, December 31, 2010 | 26,668 | ||
Sales to employees under ESPP | 15 | ||
Stock-based compensation | 24 | ||
Sales to shareholders under DRPP | 49 | ||
Balance, December 31, 2011 | 26,756 | ||
Sales to employees under ESPP | 18 | ||
Stock-based compensation | 47 | ||
Sales to shareholders under DRPP | 96 | ||
Balance, December 31, 2012 | 26,917 | ||
Sales to employees under ESPP | 16 | ||
Stock-based compensation | 42 | ||
Sales to shareholders under DRPP | 100 | ||
Balance, December 31, 2013 | 27,075 | ||
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||
Stock Based Compensation [Text Block] | ' | ||||||||||||||
6. STOCK-BASED COMPENSATION | |||||||||||||||
Our stock-based compensation plans are designed to promote stock ownership in NW Natural by employees and officers. These compensation plans include a Long-Term Incentive Plan (LTIP), an ESPP, and a Restated SOP. A variety of equity programs may be granted under the LTIP. The Restated SOP was terminated for new stock option grants in 2012. | |||||||||||||||
Long-Term Incentive Plan | |||||||||||||||
The LTIP is intended to provide a flexible, competitive compensation program for eligible officers and key employees. Under the LTIP, shares of common stock are authorized for equity incentive grants in the form of stock, restricted stock, restricted stock units, stock options, or performance shares. An aggregate of 850,000 shares were authorized for issuance as of December 31, 2013. Shares awarded under the LTIP may be purchased on the open market or issued as new shares. | |||||||||||||||
Of the 850,000 shares of common stock authorized for LTIP awards at December 31, 2013, there were 241,169 shares available for issuance under any type of award. This assumes that market, performance, and service based grants currently outstanding are awarded at the target level. Additionally, 250,000 shares of common stock were available for option grants at December 31, 2013. There were no outstanding grants of restricted stock or stock options under the LTIP at December 31, 2013 or 2012. The LTIP stock awards are compensatory awards for which compensation expense is based on the fair value of stock awards, with expense being recognized over the performance and vesting period of the outstanding awards. | |||||||||||||||
Performance Shares | |||||||||||||||
Since the LTIP’s inception in 2001, performance shares, which incorporate market, performance, and service-based factors, have been granted annually with three-year performance periods. The following table summarizes performance share expense information: | |||||||||||||||
Expense in millions | Shares (1) | Expense During Award Year(3) | Total Expense for Award | ||||||||||||
Estimated award: | |||||||||||||||
2011-2013 grant(2) | 9,516 | $ | 0.4 | $ | 1 | ||||||||||
Actual award: | |||||||||||||||
2010-2012 grant | 9,924 | 0.5 | 1.2 | ||||||||||||
2009-2011 grant | 8,428 | 0.4 | 0.8 | ||||||||||||
(1) In addition to common stock shares, a participant also receives a dividend equivalent cash payment equal to the number of shares of common stock received on the award payout multiplied by the aggregate cash dividends paid per share during the performance period. | |||||||||||||||
(2) This represents the estimated number of shares to be awarded as of December 31, 2013 as certain performance share measures had been achieved. Amounts are subject to change with final payout amounts authorized by the Board of Directors in February 2014. | |||||||||||||||
(3)Amount represents the expense recognized in the third year of the vesting period noted above. | |||||||||||||||
The aggregate number of performance shares granted and outstanding at the target and maximum levels were as follows: | |||||||||||||||
Dollars in thousands | Performance Share Awards Outstanding | 2013 | Cumulative Expense | ||||||||||||
Performance Period | Target | Maximum | Expense | 31-Dec-13 | |||||||||||
2011-13 | 37,950 | 75,900 | $ | 390 | $ | 960 | |||||||||
2012-14 | 35,340 | 70,680 | 603 | 1,238 | |||||||||||
2013-15 | 37,300 | 74,600 | 486 | 486 | |||||||||||
Total | 110,590 | 221,180 | $ | 1,479 | |||||||||||
For each of these performance periods, awards will be based on total shareholder return relative to a peer group of gas distribution companies over the three-year performance period and on performance results achieved relative to specific core and non-core strategies. Compensation expense is recognized in accordance with the accounting standard for stock-based compensation and calculated based on performance levels achieved and an estimated fair value using the Monte-Carlo method. The weighted-average grant date fair value of unvested shares at December 31, 2013 and 2012 was $43.39 and $51.42 per share, respectively. The weighted-average grant date fair value of shares vested during the year was $30.86 per share and for shares granted during the year was $38.96 per share. As of December 31, 2013, there was $1.6 million of unrecognized compensation cost related to the unvested portion of performance awards expected to be recognized through 2015. | |||||||||||||||
Restricted Stock Units | |||||||||||||||
In 2012, the Company began granting RSUs under the LTIP instead of stock options under the Restated SOP. The majority of RSUs include a performance-based threshold and generally have a vesting period of four years from the grant date. An RSU obligates the Company upon vesting to issue the RSU holder one share of common stock plus a cash payment equal to the total amount of dividends paid per share between the grant date and vesting date of the RSU. The fair value of the RSU is equal to the closing market price of the Company's common stock on the grant date. | |||||||||||||||
Information regarding the RSU activity is summarized as follows: | |||||||||||||||
Number of RSUs | Weighted - | ||||||||||||||
Average | |||||||||||||||
Price Per RSU | |||||||||||||||
Nonvested, Dec. 31, 2011 | — | $ | — | ||||||||||||
Granted | 25,224 | 47.58 | |||||||||||||
Vested | — | — | |||||||||||||
Forfeited | (360 | ) | 48 | ||||||||||||
Nonvested, Dec. 31, 2012 | 24,864 | 47.57 | |||||||||||||
Granted | 25,748 | 45.38 | |||||||||||||
Vested | (5,455 | ) | 48.01 | ||||||||||||
Forfeited | (590 | ) | 46.58 | ||||||||||||
Nonvested, Dec. 31, 2013 | 44,567 | 46.27 | |||||||||||||
As of December 31, 2013, there was $1.5 million of unrecognized compensation cost from grants of RSUs, which is expected to be recognized over a period extending through 2017. | |||||||||||||||
Restated Stock Option Plan | |||||||||||||||
The Restated SOP was terminated for new option grants in 2012; however, options that had been granted before the plan terminated will remain outstanding until the earlier of their expiration, forfeiture, or exercise. Any new grants of stock options would be made under the LTIP. We did not grant new stock options during 2012 or 2013. | |||||||||||||||
At December 31, 2013, a total of 492,150 shares of common stock remained reserved for issuance under the Restated SOP. As the plan is closed, there are no additional shares available for grant. Options under the Restated SOP were granted only to officers and key employees designated by a committee of our Board of Directors. All options were granted at an option price equal to the closing market price on the date of grant and may be exercised for a period up to 10 years and 7 days from the date of grant. Option holders may exchange shares they have owned for at least six months, valued at the current market price, to purchase shares at the option price. | |||||||||||||||
The fair value of each stock option is estimated on the grant date using the Black-Scholes option pricing model with the following weighted average assumptions and outcomes: | |||||||||||||||
2011 | |||||||||||||||
Risk-free interest rate | 2 | % | |||||||||||||
Expected life (in years) | 4.5 | ||||||||||||||
Expected market price volatility factor | 24.5 | % | |||||||||||||
Expected dividend yield | 3.8 | % | |||||||||||||
Forfeiture rate | 3.1 | % | |||||||||||||
Weighted average grant date fair value | $ | 6.73 | |||||||||||||
The expected life of our grants was calculated based on our actual experience with previously exercised option grants. The risk-free interest rate was based on the implied yield currently available on U.S. Treasury zero-coupon issues with a life equal to the expected life of the options. Historical data was used to estimate the volatility factor, measured on a daily basis, for a period equal to the duration of the expected life of the option awards. The dividend yield was based on management’s current estimate for future dividend payouts at the time of grant. We expense the total cost of stock option awards granted to retirement eligible employees at the date of grant in accordance with stock option accounting guidance and the retirement vesting provisions of our option agreements. | |||||||||||||||
Information regarding the Restated SOP activity is summarized as follows: | |||||||||||||||
Option | Weighted - | Intrinsic | |||||||||||||
Shares | Average | Value | |||||||||||||
Price Per Share | (In millions) | ||||||||||||||
Balance outstanding, Dec. 31, 2010 | 490,460 | $ | 40.82 | $ | 2.8 | ||||||||||
Granted | 122,700 | 45.74 | n/a | ||||||||||||
Exercised | (24,185 | ) | 33.88 | 0.3 | |||||||||||
Forfeited | (9,750 | ) | 44.38 | n/a | |||||||||||
Balance outstanding, Dec. 31, 2011 | 579,225 | 42.09 | 3.4 | ||||||||||||
Exercised | (46,825 | ) | 40.62 | 0.4 | |||||||||||
Forfeited | (2,475 | ) | 43.78 | n/a | |||||||||||
Balance outstanding, Dec. 31, 2012 | 529,925 | 42.22 | 1.3 | ||||||||||||
Exercised | (33,800 | ) | 32.16 | 0.3 | |||||||||||
Forfeited | (3,975 | ) | 43.72 | n/a | |||||||||||
Balance outstanding, Dec. 31, 2013 | 492,150 | 42.89 | 0.6 | ||||||||||||
Exercisable, | 409,036 | 42.41 | 0.6 | ||||||||||||
Dec. 31, 2013 | |||||||||||||||
During 2013, cash of $1.1 million was received for option shares exercised and $0.2 million related tax benefit was realized. During 2013, 2012, and 2011, the total fair value of options that vested was $0.5 million, $0.6 million and $0.6 million, respectively. The weighted average remaining life of options exercisable and outstanding at December 31, 2013, was 4.8 years and 5.1 years, respectively. As of December 31, 2013, there was $0.2 million of unrecognized compensation cost related to the unvested portion of outstanding stock option awards expected to be recognized during 2014. | |||||||||||||||
Employee Stock Purchase Plan | |||||||||||||||
The ESPP allows employees to purchase common stock at 85% of the closing price on the trading day immediately preceding the initial offering date, which is set annually. Each eligible employee may purchase up to $21,236 worth of stock through payroll deductions over a 12-month period, with shares issued at the end of the 12-month subscription period. | |||||||||||||||
Stock-Based Compensation Expense | |||||||||||||||
Stock-based compensation expense is recognized as operations and maintenance expense or is capitalized as part of construction overhead. The following table summarizes the financial statement impact of stock-based compensation under our LTIP, Restated SOP and ESPP: | |||||||||||||||
In thousands | 2013 | 2012 | 2011 | ||||||||||||
Operations and maintenance expense, for stock-based compensation | $ | 1,876 | $ | 1,668 | $ | 1,477 | |||||||||
Income tax benefit | (765 | ) | (707 | ) | (597 | ) | |||||||||
Net stock-based compensation effect on net income | $ | 1,111 | $ | 961 | $ | 880 | |||||||||
Amounts capitalized for stock-based compensation | $ | 331 | $ | 294 | $ | 261 | |||||||||
Debt
Debt | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Debt [Text Block] | ' | ||||||||
7. DEBT | |||||||||
Short-Term Debt | |||||||||
Our primary source of short-term funds is from the sale of commercial paper and bank loans. In addition to issuing commercial paper or bank loans to meet seasonal working capital requirements, short-term debt is used temporarily to fund capital requirements. Commercial paper and bank loans are periodically refinanced through the sale of long-term debt or equity securities. Our commercial paper program is supported by one or more committed credit | |||||||||
facilities. At December 31, 2013 and 2012, the amounts of commercial paper debt outstanding were $188.2 million and $190.3 million, respectively, and the average interest rate was 0.3% at year-end for both periods. The carrying cost of our commercial paper approximates fair value using Level 2 inputs, due to the short-term nature of the notes. See Note 2 for a description of the fair value hierarchy. At December 31, 2013, our commercial paper had a maximum maturity of 136 days and an average maturity of 66 days. There were no bank loans outstanding at December 31, 2013 or 2012. | |||||||||
On December 20, 2012, NW Natural entered into a five-year $300 million credit agreement, pursuant to which we may extend commitments for two additional one-year periods subject to lender approval. In December 2013, we extended our commitment for an additional year with an updated maturity date of December 20, 2018. The credit agreement allows us to request increases in the total commitment amount up to a maximum amount of $450 million and permits letters of credit in an aggregate amount of up to $200 million. Any principal and unpaid interest owed on borrowings under the agreement are due and payable on or before the expiration date. There were no outstanding balances under the agreement and no letters of credit issued or outstanding at December 31, 2013 and 2012. | |||||||||
The credit agreement requires that we maintain credit ratings with Standard & Poor’s (S&P) and Moody’s Investors Service, Inc. (Moody’s) and notify the lenders of any change in our senior unsecured debt ratings or senior secured debt ratings, as applicable, by such rating agencies. A change in our debt ratings is not an event of default, nor is the maintenance of a specific minimum level of debt rating a condition of drawing upon the credit facility. However, interest rates on any loans outstanding under the credit facility are tied to debt ratings, which would increase or decrease the cost of any loans under the credit facility when ratings are changed. | |||||||||
The credit agreement also requires us to maintain a consolidated indebtedness to total capitalization ratio of 70% or less. Failure to comply with this covenant would entitle the lenders to terminate their lending commitments and accelerate the maturity of all amounts outstanding. We were in compliance with this covenant at December 31, 2013 and 2012. | |||||||||
Long-Term Debt | |||||||||
The issuance of first mortgage bonds (FMBs), which includes our medium-term notes, under the Mortgage and Deed of Trust (Mortgage) is limited by eligible property, adjusted net earnings and other provisions of the Mortgage. The Mortgage constitutes a first mortgage lien on substantially all of our utility property. In addition, our Gill Ranch subsidiary senior secured debt is secured by all of the membership interests in Gill Ranch as well as Gill Ranch’s debt service reserve account. | |||||||||
Retirement of long-term debt for each of the 12-month periods through December 31, 2018 are as follows: | |||||||||
In thousands | |||||||||
Year | |||||||||
2014 | $ | 60,000 | |||||||
2015 | 40,000 | ||||||||
2016 | 65,000 | ||||||||
2017 | 40,000 | ||||||||
2018 | 22,000 | ||||||||
The following table presents our debt outstanding as of December 31: | |||||||||
In thousands | 2013 | 2012 | |||||||
First Mortgage Bonds | |||||||||
8.26 % Series B due 2014 | $ | 10,000 | $ | 10,000 | |||||
3.95 % Series B due 2014 | 50,000 | 50,000 | |||||||
4.70 % Series B due 2015 | 40,000 | 40,000 | |||||||
5.15 % Series B due 2016 | 25,000 | 25,000 | |||||||
7.00 % Series B due 2017 | 40,000 | 40,000 | |||||||
6.60 % Series B due 2018 | 22,000 | 22,000 | |||||||
8.31 % Series B due 2019 | 10,000 | 10,000 | |||||||
7.63 % Series B due 2019 | 20,000 | 20,000 | |||||||
5.37 % Series B due 2020 | 75,000 | 75,000 | |||||||
9.05 % Series A due 2021 | 10,000 | 10,000 | |||||||
3.176 % Series B due 2021 | 50,000 | 50,000 | |||||||
3.542% Series B due 2023 | 50,000 | — | |||||||
5.62 % Series B due 2023 | 40,000 | 40,000 | |||||||
7.72 % Series B due 2025 | 20,000 | 20,000 | |||||||
6.52 % Series B due 2025 | 10,000 | 10,000 | |||||||
7.05 % Series B due 2026 | 20,000 | 20,000 | |||||||
7.00 % Series B due 2027 | 20,000 | 20,000 | |||||||
6.65 % Series B due 2027 | 19,700 | 19,700 | |||||||
6.65 % Series B due 2028 | 10,000 | 10,000 | |||||||
7.74 % Series B due 2030 | 20,000 | 20,000 | |||||||
7.85 % Series B due 2030 | 10,000 | 10,000 | |||||||
5.82 % Series B due 2032 | 30,000 | 30,000 | |||||||
5.66 % Series B due 2033 | 40,000 | 40,000 | |||||||
5.25 % Series B due 2035 | 10,000 | 10,000 | |||||||
4.00 % Series due 2042 | 50,000 | 50,000 | |||||||
701,700 | 651,700 | ||||||||
Subsidiary Senior Secured Debt | |||||||||
Gill Ranch debt due 2016 | 40,000 | 40,000 | |||||||
741,700 | 691,700 | ||||||||
Less: Current maturities of long-term debt | 60,000 | — | |||||||
Total long-term debt | $ | 681,700 | $ | 691,700 | |||||
First Mortgage Bonds | |||||||||
NW Natural issued $50 million of FMBs on August 19, 2013 with a coupon rate of 3.542% and a 10-year maturity. In October 2012, the utility issued $50 million of FMBs with a coupon rate of 4.00% and a maturity date of October 31, 2042. | |||||||||
Subsidiary Senior Secured Debt | |||||||||
In November 2011, Gill Ranch issued $40 million of senior secured debt, which consists of $20 million of fixed rate debt with an interest rate of 7.75% and $20 million of variable interest rate debt with an interest rate of LIBOR plus 5.50%, or 7.00%, whichever is higher. At December 31, 2013, the variable interest rate was 7.00%. This debt is secured by all of the membership interests in Gill Ranch and is nonrecourse to NW Natural. The maturity date of this debt is November 30, 2016. | |||||||||
Under the debt agreements, Gill Ranch is subject to certain covenants and restrictions including, but not limited to, a financial covenant that requires Gill Ranch to maintain minimum adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) at various levels over the term of the debt. The minimum adjusted EBITDA increases incrementally over the first few years, reaching its highest level in the 12-month period beginning April 1, 2015. Under the debt agreements, Gill Ranch is also subject to a debt service reserve requirement of 10% of the outstanding principal amount, certain prepayment penalties, restrictions on dividends out of Gill Ranch unless certain earnings ratios are met, and restrictions on incurrence of additional debt. Gill Ranch was in compliance with all existing debt provisions and covenants for the year ended December 31, 2013. | |||||||||
Fair Value of Long-Term Debt | |||||||||
As our outstanding debt does not trade in active markets, we estimated the fair value of our outstanding long-term debt using outstanding debt issuances that actively trade in public markets and companies that have similar credit ratings, terms and remaining maturities to our debt. These valuations are based on Level 2 inputs as defined in the fair value hierarchy. See Note 2. | |||||||||
The following table provides an estimate of the fair value of our long-term debt, including current maturities of long-term debt, using market prices in effect on the valuation date: | |||||||||
December 31, | |||||||||
In thousands | 2013 | 2012 | |||||||
Carrying amount | $ | 741,700 | $ | 691,700 | |||||
Estimated fair value | 806,359 | 834,664 | |||||||
Pension_and_Other_Postretireme
Pension and Other Postretirement Benefits | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||
Pension and Other Postretirement Benefit Expense [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Pension and Other Postretirement Benefits [Text Block] | ' | ||||||||||||||||||||||||||||||||||||
8. PENSION AND OTHER POSTRETIREMENT BENEFIT COSTS | |||||||||||||||||||||||||||||||||||||
We maintain qualified non-contributory defined benefit pension plans, a few non-qualified supplemental pension plans for eligible executive officers and other key employees, and other postretirement employee benefit plans. We also have qualified defined contribution plans (Retirement K Savings Plan) for all eligible employees. Only the qualified defined benefit pension plan and Retirement K Savings Plan have plan assets, which are held in qualified trusts to fund retirement benefits. Effective December 31, 2012, the defined benefit pension plans for non-union and union employees were merged into one plan. The qualified defined benefit retirement plan for non-union and union employees was closed to new participants effective January 1, 2007. The postretirement benefits plan for non-union employees was closed to new participants effective January 1, 2010. These plans were not available to employees of our non-utility subsidiaries. Non-union and union employees hired or re-hired after December 31, 2006 and 2009, respectively, and employees of NW Natural subsidiaries are provided an enhanced Retirement K Savings Plan benefit. | |||||||||||||||||||||||||||||||||||||
The following table provides a reconciliation of the changes in benefit obligations and fair value of plan assets, as applicable, for the pension and other postretirement benefit plans, excluding the Retirement K Savings Plan, and a summary of the funded status and amounts recognized in the consolidated balance sheets as of December 31: | |||||||||||||||||||||||||||||||||||||
Postretirement Benefit Plans | |||||||||||||||||||||||||||||||||||||
Pension Benefits | Other Benefits | ||||||||||||||||||||||||||||||||||||
In thousands | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||
Reconciliation of change in benefit obligation: | |||||||||||||||||||||||||||||||||||||
Obligation at January 1 | $ | 435,889 | $ | 391,127 | $ | 33,119 | $ | 30,049 | |||||||||||||||||||||||||||||
Service cost | 8,698 | 8,047 | 656 | 592 | |||||||||||||||||||||||||||||||||
Interest cost | 16,400 | 17,295 | 1,157 | 1,267 | |||||||||||||||||||||||||||||||||
Net actuarial (gain) loss | (51,043 | ) | 37,615 | (4,283 | ) | 3,182 | |||||||||||||||||||||||||||||||
Benefits paid | (18,855 | ) | (18,195 | ) | (1,895 | ) | (1,971 | ) | |||||||||||||||||||||||||||||
Obligation at December 31 | $ | 391,089 | $ | 435,889 | $ | 28,754 | $ | 33,119 | |||||||||||||||||||||||||||||
Reconciliation of change in plan assets: | |||||||||||||||||||||||||||||||||||||
Fair value of plan assets at January 1 | $ | 249,603 | $ | 215,970 | $ | — | $ | — | |||||||||||||||||||||||||||||
Actual return on plan assets | 22,872 | 26,683 | — | — | |||||||||||||||||||||||||||||||||
Employer contributions | 13,442 | 25,145 | 1,895 | 1,971 | |||||||||||||||||||||||||||||||||
Benefits paid | (18,855 | ) | (18,195 | ) | (1,895 | ) | (1,971 | ) | |||||||||||||||||||||||||||||
Fair value of plan assets at December 31 | $ | 267,062 | $ | 249,603 | $ | — | $ | — | |||||||||||||||||||||||||||||
Funded status at December 31 | $ | (124,027 | ) | $ | (186,286 | ) | $ | (28,754 | ) | $ | (33,119 | ) | |||||||||||||||||||||||||
Our qualified defined benefit pension plan has an aggregate benefit obligation of $362.4 million and $404.0 million at December 31, 2013 and 2012, respectively, and fair values of plan assets of $267.1 million and $249.6 million, respectively. | |||||||||||||||||||||||||||||||||||||
The following table presents amounts realized through regulatory assets or in other comprehensive income for the years ended December 31: | |||||||||||||||||||||||||||||||||||||
Regulatory Assets | Other Comprehensive Income | ||||||||||||||||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | Pension Benefits | |||||||||||||||||||||||||||||||||||
In thousands | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Net actuarial (gain) loss | $ | (51,892 | ) | $ | 26,504 | $ | 66,404 | $ | (4,283 | ) | $ | 3,182 | $ | 2,225 | $ | (3,302 | ) | $ | 3,511 | $ | 2,948 | ||||||||||||||||
Amortization of: | |||||||||||||||||||||||||||||||||||||
Transition obligation | — | — | — | — | (411 | ) | (411 | ) | — | — | — | ||||||||||||||||||||||||||
Prior service cost | (230 | ) | (230 | ) | (230 | ) | (197 | ) | (197 | ) | (197 | ) | 7 | 35 | (122 | ) | |||||||||||||||||||||
Actuarial loss | (16,744 | ) | (14,482 | ) | (10,731 | ) | (733 | ) | (435 | ) | (289 | ) | (1,550 | ) | (1,150 | ) | (854 | ) | |||||||||||||||||||
Total | $ | (68,866 | ) | $ | 11,792 | $ | 55,443 | $ | (5,213 | ) | $ | 2,139 | $ | 1,328 | $ | (4,845 | ) | $ | 2,396 | $ | 1,972 | ||||||||||||||||
The following table presents amounts recognized in regulatory assets and accumulated other comprehensive loss (AOCL) at December 31: | |||||||||||||||||||||||||||||||||||||
Regulatory Assets | AOCL | ||||||||||||||||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | Pension Benefits | |||||||||||||||||||||||||||||||||||
In thousands | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Prior service cost | $ | 867 | $ | 1,097 | $ | 685 | $ | 882 | $ | (5 | ) | $ | (12 | ) | |||||||||||||||||||||||
Net actuarial loss | 119,638 | 188,278 | 4,665 | 9,681 | 10,475 | 15,327 | |||||||||||||||||||||||||||||||
Total | $ | 120,505 | $ | 189,375 | $ | 5,350 | $ | 10,563 | $ | 10,470 | $ | 15,315 | |||||||||||||||||||||||||
The following table presents amounts recognized in AOCL and the changes in AOCL related to our non-qualified employee benefit plans: | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||
In thousands | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
Beginning balance | $ | (9,291 | ) | $ | (7,800 | ) | |||||||||||||||||||||||||||||||
Amounts reclassified to AOCL | 3,302 | (3,495 | ) | ||||||||||||||||||||||||||||||||||
Amounts reclassified from AOCL: | |||||||||||||||||||||||||||||||||||||
Amortization of prior service costs | (7 | ) | (35 | ) | |||||||||||||||||||||||||||||||||
Amortization of actuarial losses | 1,550 | 1,134 | |||||||||||||||||||||||||||||||||||
Total reclassifications before tax | 4,845 | (2,396 | ) | ||||||||||||||||||||||||||||||||||
Tax (benefit) expense | (1,912 | ) | 905 | ||||||||||||||||||||||||||||||||||
Total reclassifications for the period | 2,933 | (1,491 | ) | ||||||||||||||||||||||||||||||||||
Ending balance | $ | (6,358 | ) | $ | (9,291 | ) | |||||||||||||||||||||||||||||||
In 2014, an estimated $9.8 million will be amortized from regulatory assets to net periodic benefit costs, consisting of $9.4 million of actuarial losses, and $0.4 million of prior service costs. A total of $1.0 million will be amortized from AOCL to earnings related to actuarial losses. | |||||||||||||||||||||||||||||||||||||
Our assumed discount rate was determined independently for each pension plan and other postretirement benefit plan based on the Citigroup Above Median Curve (discount rate curve), which uses high quality corporate bonds rated AA- or higher by S&P or Aa3 or higher by Moody’s. The discount rate curve was applied to match the estimated cash flows in each of the Company's plans to reflect the timing and amount of expected future benefit payments for these plans. | |||||||||||||||||||||||||||||||||||||
Our assumed expected long-term rate of return on plan assets was developed using a weighted average of the expected returns for the target asset portfolio. In developing the expected long-term rate of return assumption, consideration was given to the historical performance of each asset class in which the plans’ assets are invested and the target asset allocation for plan assets. | |||||||||||||||||||||||||||||||||||||
Our investment strategy and policies for qualified pension plan assets held in the retirement trust fund were approved by our retirement committee, which is composed of senior management employees with the assistance of an outside investment consultant. The policies set forth the guidelines and objectives governing the investment of plan assets. Plan assets are invested for total return with appropriate consideration for liquidity, portfolio risk, and return expectation. All investments are expected to satisfy the requirements of the rule of prudent investments as set forth under the Employee Retirement Income Security Act of 1974. The approved asset classes include cash and short-term investments, fixed income, common stock and convertible securities, absolute and real return strategies, real estate, and investments in NW Natural securities. Plan assets may be invested in separately managed accounts or in commingled or mutual funds. Investment re-balancing takes place periodically as needed, or when significant cash flows occur, in order to maintain the allocation of assets within the stated target ranges. Our expected long-term rate of return is based upon historical index returns by asset class, adjusted by a factor based on our historical return experience, diversified asset allocation and active portfolio management by professional investment managers. The retirement trust fund is not currently invested in any NW Natural securities. | |||||||||||||||||||||||||||||||||||||
The following is our pension plan asset target allocation at December 31, 2013: | |||||||||||||||||||||||||||||||||||||
Asset Category | Target Allocation | ||||||||||||||||||||||||||||||||||||
U.S. large cap equity | 13 | % | |||||||||||||||||||||||||||||||||||
U.S. small/mid cap equity | 8.5 | ||||||||||||||||||||||||||||||||||||
Non-U.S. equity | 13 | ||||||||||||||||||||||||||||||||||||
Emerging markets equity | 3.5 | ||||||||||||||||||||||||||||||||||||
Long government/credit | 30 | ||||||||||||||||||||||||||||||||||||
High yield bonds | 5 | ||||||||||||||||||||||||||||||||||||
Emerging market debt | 5 | ||||||||||||||||||||||||||||||||||||
Real estate funds | 6 | ||||||||||||||||||||||||||||||||||||
Absolute return strategy | 11 | ||||||||||||||||||||||||||||||||||||
Real return strategy | 5 | ||||||||||||||||||||||||||||||||||||
Our non-qualified supplemental defined benefit plan obligations were $28.7 million and $31.9 million at December 31, 2013 and 2012, respectively. These plans are not subject to regulatory deferral, and the changes in actuarial gains and losses, prior service costs and transition assets or obligations are recognized in AOCL, net of tax, until they are amortized as a component of net periodic benefit cost. Although these are unfunded plans with no plan assets due to their nature as non-qualified plans, we indirectly fund a portion of our obligations with company- and trust-owned life insurance and other assets. | |||||||||||||||||||||||||||||||||||||
Our other postretirement benefit plans are unfunded plans but are subject to regulatory deferral. The actuarial gains and losses, prior service costs, and transition assets or obligations for these plans are recognized as a regulatory asset. Net periodic benefit costs consist of service costs, interest costs, and the amortization of actuarial gains and losses. | |||||||||||||||||||||||||||||||||||||
Net periodic benefit costs consist of service costs, interest costs, and the amortization of actuarial gains and losses. | |||||||||||||||||||||||||||||||||||||
the expected returns on plan assets and, in part, on a market-related valuation of assets. The market-related valuation reflects differences between expected returns and actual investment returns, of which the differences are recognized over a three-year period or less from the year in which they occur, thereby reducing year-to-year net periodic benefit cost volatility. | |||||||||||||||||||||||||||||||||||||
The following tables provide the components of net periodic benefit cost for the Company's pension and other postretirement benefit plans for the years ended December 31 and the assumptions used in measuring these costs and benefit obligations: | |||||||||||||||||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | ||||||||||||||||||||||||||||||||||||
In thousands | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
Service cost | $ | 8,698 | $ | 8,047 | $ | 7,122 | $ | 656 | $ | 592 | $ | 614 | |||||||||||||||||||||||||
Interest cost | 16,400 | 17,295 | 18,134 | 1,157 | 1,267 | 1,404 | |||||||||||||||||||||||||||||||
Expected return on plan assets | (18,721 | ) | (19,082 | ) | (17,867 | ) | — | — | — | ||||||||||||||||||||||||||||
Amortization of transition obligations | — | — | — | — | 411 | 411 | |||||||||||||||||||||||||||||||
Amortization of prior service costs | 223 | 195 | 352 | 197 | 197 | 197 | |||||||||||||||||||||||||||||||
Amortization of net actuarial loss | 18,294 | 15,631 | 11,584 | 734 | 435 | 289 | |||||||||||||||||||||||||||||||
Net periodic benefit cost | 24,894 | 22,086 | 19,325 | 2,744 | 2,902 | 2,915 | |||||||||||||||||||||||||||||||
Amount allocated to construction | (6,712 | ) | (5,820 | ) | (4,905 | ) | (856 | ) | (882 | ) | (878 | ) | |||||||||||||||||||||||||
Amount deferred to regulatory balancing account(1) | (9,115 | ) | (7,876 | ) | (6,008 | ) | — | — | — | ||||||||||||||||||||||||||||
Net amount charged to expense | $ | 9,067 | $ | 8,390 | $ | 8,412 | $ | 1,888 | $ | 2,020 | $ | 2,037 | |||||||||||||||||||||||||
(1) Effective January 1, 2011, the OPUC approved the deferral of certain pension expenses above or below the amount set in rates, with recovery of these deferred amounts through the implementation of a balancing account, which includes the expectation of lower net periodic benefit costs in future years. Deferred pension expense balances include accrued interest at the utility’s authorized rate of return. See Note 2. | |||||||||||||||||||||||||||||||||||||
Net periodic benefit costs above are reduced by amounts capitalized to utility plant based on approximately 30% to 40% payroll overhead charge to construction work orders. In addition, a certain amount of net periodic benefit costs are recorded to the regulatory balancing account for pensions, with the remaining net amount charged to expense and recognized in current earnings. | |||||||||||||||||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | ||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||
Assumptions for net periodic benefit cost: | |||||||||||||||||||||||||||||||||||||
Weighted-average discount rate | 3.84 | % | 4.51 | % | 5.49 | % | 3.56 | % | 4.33 | % | 5.16 | % | |||||||||||||||||||||||||
Rate of increase in compensation | 3.25-5.0% | 3.25-5.0% | 3.25-5.0% | n/a | n/a | n/a | |||||||||||||||||||||||||||||||
Expected long-term rate of return | 7.5 | % | 8 | % | 8.25 | % | n/a | n/a | n/a | ||||||||||||||||||||||||||||
Assumptions for year-end funded status: | |||||||||||||||||||||||||||||||||||||
Weighted-average discount rate | 4.73 | % | 3.85 | % | 4.51 | % | 4.45 | % | 3.56 | % | 4.33 | % | |||||||||||||||||||||||||
Rate of increase in compensation | 3.25-5.0% | 3.25-5.0% | 3.25-5.0% | n/a | n/a | n/a | |||||||||||||||||||||||||||||||
Expected long-term rate of return | 7.5 | % | 7.5 | % | 8 | % | n/a | n/a | n/a | ||||||||||||||||||||||||||||
The assumed annual increase in health care cost trend rates used in measuring other postretirement benefits as of December 31, 2013 was 9.0% for pre-65 and 7.9% for post-65 populations. These trend rates apply to both medical and prescription drugs. Medical costs and prescription drugs are assumed to decrease gradually each year to a rate of 5.0% by 2021. | |||||||||||||||||||||||||||||||||||||
Assumed health care cost trend rates can have a significant effect on the amounts reported for the health care plans. A one percentage point change in assumed health care cost trend rates would have the following effects: | |||||||||||||||||||||||||||||||||||||
In thousands | 1% Increase | 1% Decrease | |||||||||||||||||||||||||||||||||||
Effect on net periodic postretirement health care benefit cost | $ | 73 | $ | (64 | ) | ||||||||||||||||||||||||||||||||
Effect on the accumulated postretirement benefit obligation | 739 | (660 | ) | ||||||||||||||||||||||||||||||||||
The impact of a change in retirement benefit costs on operating results would be less than the amounts shown above because a portion would be capitalized to utility plant, and a certain amount would be recorded to the regulatory balancing account with the remaining amount recognized in current earnings. | |||||||||||||||||||||||||||||||||||||
The following table provides information regarding employer contributions and benefit payments for the qualified pension plan, non-qualified pension plans and other postretirement benefit plans for the years ended December 31, and estimated future contributions and payments: | |||||||||||||||||||||||||||||||||||||
In thousands | Pension Benefits | Other Benefits | |||||||||||||||||||||||||||||||||||
Employer Contributions: | |||||||||||||||||||||||||||||||||||||
2012 | $ | 25,559 | $ | 1,971 | |||||||||||||||||||||||||||||||||
2013 | 13,907 | 1,895 | |||||||||||||||||||||||||||||||||||
2014 (estimated) | 15,607 | 1,892 | |||||||||||||||||||||||||||||||||||
Benefit Payments: | |||||||||||||||||||||||||||||||||||||
2011 | 18,269 | 1,870 | |||||||||||||||||||||||||||||||||||
2012 | 18,195 | 1,971 | |||||||||||||||||||||||||||||||||||
2013 | 18,855 | 1,895 | |||||||||||||||||||||||||||||||||||
Estimated Future Benefit Payments: | |||||||||||||||||||||||||||||||||||||
2014 | 19,450 | 1,892 | |||||||||||||||||||||||||||||||||||
2015 | 20,033 | 1,927 | |||||||||||||||||||||||||||||||||||
2016 | 20,671 | 2,001 | |||||||||||||||||||||||||||||||||||
2017 | 21,424 | 2,053 | |||||||||||||||||||||||||||||||||||
2018 | 22,337 | 2,112 | |||||||||||||||||||||||||||||||||||
2019-2023 | 129,177 | 10,823 | |||||||||||||||||||||||||||||||||||
Employer Contributions to Company-Sponsored Defined Benefit Pension Plans | |||||||||||||||||||||||||||||||||||||
We make contributions to our qualified defined benefit pension plans based on actuarial assumptions and estimates, tax regulations, and funding requirements under federal law. The Pension Protection Act of 2006 (the Act) established new funding requirements for defined benefit plans. The Act establishes a 100% funding target over seven years for plan years beginning after December 31, 2008. In addition, in July 2012 the Moving Ahead for Progress in the 21st Century Act (MAP-21) legislation changed several provisions affecting pension plans, including temporary funding relief and Pension Benefit Guaranty Corporation (PBGC) premium increases, which reduces the level of minimum required contributions in the near-term but generally increases contributions in the long-run as well as increasing the operational costs of running a pension plan. Our qualified defined benefit pension plan is currently underfunded by $95.3 million at December 31, 2013. Including the impacts of MAP-21, we expect to make contributions during 2014 of approximately $15 million. | |||||||||||||||||||||||||||||||||||||
Multiemployer Pension Plan | |||||||||||||||||||||||||||||||||||||
In addition to the Company-sponsored defined benefit plans referred to above, we contribute to a multiemployer pension plan for our utility's union employees known as the Western States Office and Professional Employees International Union Pension Fund (Western States Plan) in accordance with our collective bargaining agreement. The employer identification number of the plan is 94-6076144. The cost of this plan, and corresponding future liabilities, are in addition to pension amounts in the tables above. The Western States Plan is managed by a board of trustees that includes equal representation from participating employers and labor unions. Contribution rates are established by collective bargaining agreements, and benefit levels are set by the board of trustees based on the advice of an independent actuary regarding the level of benefits that agreed-upon contributions are expected to support. | |||||||||||||||||||||||||||||||||||||
The Western States Plan has reported an accumulated funding deficit for the current plan year and remains in critical status. A plan is considered to be in critical status if its funded status is below 65%. Federal law requires pension plans in critical status to adopt a rehabilitation plan designed to restore the financial health of the plan. Rehabilitation plans may specify benefit reductions, contribution surcharges, or a combination of the two. The Western States Plan trustees adopted a rehabilitation plan that reduced benefit accrual rates and adjustable benefits for active employee participants and increased future employer contribution rates. These changes are expected to improve the funded status of the plan. Our contributions to the Western States Plan amounted to $0.5 million in 2013 and $0.4 million in 2012, and 2011, which is approximately 4% to 5% of the total contributions to the plan by all employer participants. | |||||||||||||||||||||||||||||||||||||
Under the terms of our current collective bargaining agreement, which became effective in July 2009, we could withdraw from the Western States Plan at any time. Effective December 22, 2013, we withdrew from the plan, which was a noncash transaction. Vested participants will receive all benefits accrued through the date of withdrawal. As the plan was underfunded at the time of withdrawal, we have been assessed a withdrawal liability of $8.3 million, which requires NW Natural to pay $0.6 million each year to the plan for the next 20 years. We have deferred the withdrawal liability to a regulatory account on the balance sheet. | |||||||||||||||||||||||||||||||||||||
Defined Contribution Plan | |||||||||||||||||||||||||||||||||||||
The Retirement K Savings Plan provided to our employees is a qualified defined contribution plan under Internal Revenue Code Section 401(k). Employer contributions to this plan totaled $2.2 million in 2013 and 2012, and $2.4 million in 2011. The Retirement K Savings Plan includes an Employee Stock Ownership Plan. | |||||||||||||||||||||||||||||||||||||
Deferred Compensation Plans | |||||||||||||||||||||||||||||||||||||
The supplemental deferred compensation plans for eligible officers and senior managers are non-qualified plans. These plans are designed to enhance the retirement savings of employees and to assist them in strengthening their financial security by providing an incentive to save and invest regularly. | |||||||||||||||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||||||||||||||
Following is a description of the valuation methodologies used for assets measured at fair value. In cases where the pension plan is invested through a collective trust fund or mutual fund, our custodian uses the fund's market value. The custodian also provides the market values for investments directly owned. | |||||||||||||||||||||||||||||||||||||
U.S. LARGE CAP EQUITY and U.S. SMALL/MID CAP EQUITY. These are level 1 and 2 assets. The level 1 assets consist of directly held stocks, and mutual funds with a readily determinable fair value, including a published net asset value (NAV). The level 2 assets consist of mutual funds where NAV is not published but the investment can be readily disposed of at NAV or market value. Directly held stocks are valued at the closing price reported in the active market on which the individual security is traded, and mutual funds are valued at NAV. This asset class includes investments primarily in U.S. common stocks. | |||||||||||||||||||||||||||||||||||||
NON-U.S. EQUITY. These are level 1 and 2 assets. The level 1 assets consist of directly held stocks, and the level 2 assets consist of an open-end mutual fund and a commingled trust where the NAV/unit price is not published but the investment can be readily disposed of at the NAV/unit price. Directly held stocks are valued at the closing price reported in the active market on which the individual security is traded, and the mutual fund is valued at NAV, while the commingled trust is valued at the unit price of the trust. This asset class includes investments primarily in foreign equity common stocks. | |||||||||||||||||||||||||||||||||||||
EMERGING MARKETS EQUITY. These are level 1 assets representing a mutual fund with readily determinable fair value, including published NAV's. This asset class includes investments primarily in common stocks in emerging markets. | |||||||||||||||||||||||||||||||||||||
FIXED INCOME. This is a level 2 asset consisting of a mutual fund, valued at NAV, where NAV is not published, but the investment can be readily disposed of at NAV. This asset class includes investments primarily in investment grade debt and fixed income securities. | |||||||||||||||||||||||||||||||||||||
LONG GOVERNMENT/CREDIT. These are level 1 and 2 assets. The level 1 assets consist of a fixed-income mutual fund with readily determinable fair value, including a published NAV. The level 2 assets consist of directly held fixed-income securities whose values are determined by closing prices if available and by matrix prices for illiquid securities. This asset class includes long duration fixed income investments primarily in U.S. treasuries, U.S. government agencies, municipal securities, mortgage-backed securities, asset-backed securities, as well as U.S. and international investment-grade corporate bonds. | |||||||||||||||||||||||||||||||||||||
HIGH YIELD BONDS. These are level 2 assets consisting of a limited partnership where valuation is not published but the investment can be readily disposed of at market value. This asset class includes investments primarily in high yield bonds. | |||||||||||||||||||||||||||||||||||||
EMERGING MARKET DEBT. These are level 1 assets consisting of a mutual fund with a readily determinable fair value, including a published NAV. This asset class includes investments primarily in emerging market debt. | |||||||||||||||||||||||||||||||||||||
REAL ESTATE FUNDS. These are level 1 assets consisting of a mutual fund with a readily determinable fair value, including a published NAV. This asset class includes investments primarily in real estate investment trust (REIT) securities. | |||||||||||||||||||||||||||||||||||||
ABSOLUTE RETURN STRATEGY. These are level 2 assets consisting of a hedge fund of funds where valuation is not published but the investment can be readily disposed of at unit price. The hedge fund of funds is valued at the weighted average value of investments in various hedge funds which in turn are valued at the closing price of the underlying securities. This asset class includes investments primarily in common stocks and fixed income securities. | |||||||||||||||||||||||||||||||||||||
REAL RETURN STRATEGY. These are level 1 assets representing a mutual fund with a readily determinable fair value, including a published NAV. This asset class includes an investment in a broad range of assets primarily including fixed income, high-yield bonds, and emerging market debt. | |||||||||||||||||||||||||||||||||||||
CASH AND CASH EQUIVALENTS. These are level 2 assets representing mutual funds without published NAV's but the investment can be readily disposed of at NAV. The mutual funds are valued at the NAV of the shares held by the plan at the valuation date. This asset class primarily includes money market mutual funds. | |||||||||||||||||||||||||||||||||||||
The preceding valuation methods may produce a fair value calculation that is not indicative of net realizable value or reflective of future fair values. Although we believe these valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. | |||||||||||||||||||||||||||||||||||||
Investment securities are exposed to various financial risks including interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of our investment securities will occur in the near term and that such changes could materially affect our investment account balances and the amounts reported as plan assets available for benefits payments. | |||||||||||||||||||||||||||||||||||||
The following table presents the fair value of plan assets, including outstanding receivables and liabilities, of the retirement trust fund: | |||||||||||||||||||||||||||||||||||||
In thousands | December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Investments | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||
U.S. large cap equity | $ | 39,124 | $ | 79 | $ | — | $ | 39,203 | |||||||||||||||||||||||||||||
U.S. small/mid cap equity | 30,465 | 55 | — | 30,520 | |||||||||||||||||||||||||||||||||
Non-U.S. equity | 16,782 | 17,202 | — | 33,984 | |||||||||||||||||||||||||||||||||
Emerging markets equity | 7,405 | — | — | 7,405 | |||||||||||||||||||||||||||||||||
Fixed income | — | 367 | — | 367 | |||||||||||||||||||||||||||||||||
Long government/credit | 33,152 | 32,763 | — | 65,915 | |||||||||||||||||||||||||||||||||
High yield bonds | — | 12,890 | — | 12,890 | |||||||||||||||||||||||||||||||||
Emerging market debt | 9,987 | — | — | 9,987 | |||||||||||||||||||||||||||||||||
Real estate funds | 16,559 | — | — | 16,559 | |||||||||||||||||||||||||||||||||
Absolute return strategy | — | 35,339 | — | 35,339 | |||||||||||||||||||||||||||||||||
Real return strategy | 13,031 | — | — | 13,031 | |||||||||||||||||||||||||||||||||
Cash and cash equivalents | — | 1,418 | — | 1,418 | |||||||||||||||||||||||||||||||||
Total investments | $ | 166,505 | $ | 100,113 | $ | — | $ | 266,618 | |||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||
Investments | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||
U.S. large cap equity | $ | 29,047 | $ | 1,891 | $ | — | $ | 30,938 | |||||||||||||||||||||||||||||
U.S. small/mid cap equity | 21,624 | 1,312 | — | 22,936 | |||||||||||||||||||||||||||||||||
Non-U.S. equity | 13,931 | 15,812 | — | 29,743 | |||||||||||||||||||||||||||||||||
Emerging markets equity | 8,004 | — | — | 8,004 | |||||||||||||||||||||||||||||||||
Fixed income | — | 8,824 | — | 8,824 | |||||||||||||||||||||||||||||||||
Long government/credit | 30,098 | 29,249 | — | 59,347 | |||||||||||||||||||||||||||||||||
High yield bonds | — | 12,017 | — | 12,017 | |||||||||||||||||||||||||||||||||
Emerging market debt | 11,421 | — | — | 11,421 | |||||||||||||||||||||||||||||||||
Real estate funds | 15,992 | — | — | 15,992 | |||||||||||||||||||||||||||||||||
Absolute return strategy | — | 32,078 | — | 32,078 | |||||||||||||||||||||||||||||||||
Real return strategy | 12,932 | — | — | 12,932 | |||||||||||||||||||||||||||||||||
Cash and cash equivalents | — | 1,459 | — | 1,459 | |||||||||||||||||||||||||||||||||
Total investments | $ | 143,049 | $ | 102,642 | $ | — | $ | 245,691 | |||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||
Receivables | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
Accrued interest and dividend income | $ | 468 | $ | 388 | |||||||||||||||||||||||||||||||||
Due from broker for securities sold | 1,154 | 4,459 | |||||||||||||||||||||||||||||||||||
Total receivables | $ | 1,622 | $ | 4,847 | |||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||
Due to broker for securities purchased | $ | 1,178 | $ | 935 | |||||||||||||||||||||||||||||||||
Total investment in retirement trust | $ | 267,062 | $ | 249,603 | |||||||||||||||||||||||||||||||||
Income_Tax
Income Tax | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Tax [Text Block] | ' | ||||||||||||
9. INCOME TAX | |||||||||||||
The following table provides a reconciliation between income taxes calculated at the statutory federal tax rate and the provision for income taxes reflected in the consolidated statements of comprehensive income for the three years ended December 31: | |||||||||||||
Dollars in thousands | 2013 | 2012 | 2011 | ||||||||||
Income taxes at federal statutory rate | $ | 35,785 | $ | 35,764 | $ | 37,056 | |||||||
Increase (decrease): | |||||||||||||
Current state income tax, net of federal tax benefit | 4,674 | 4,773 | 4,945 | ||||||||||
Amortization of investment and energy tax credits | (271 | ) | (350 | ) | (442 | ) | |||||||
Differences required to be flowed-through by regulatory commissions | 2,357 | 1,718 | 1,647 | ||||||||||
Gains on company and trust-owned life insurance | (864 | ) | (800 | ) | (786 | ) | |||||||
Regulatory asset impairment | — | 2,700 | — | ||||||||||
Other, net | 24 | (402 | ) | 405 | |||||||||
Total provision for income taxes | $ | 41,705 | $ | 43,403 | $ | 42,825 | |||||||
Effective tax rate | 40.8 | % | 42.5 | % | 40.5 | % | |||||||
The decrease in the effective income tax rate for 2013 compared to 2012 was primarily due to the one-time, after-tax charge of $2.7 million in 2012 related to the OPUC's rate case order that the Company could not recover deferred tax amounts resulting from the 2009 Oregon income tax rate change. | |||||||||||||
The provision (benefit) for current and deferred income taxes consists of the following at December 31: | |||||||||||||
In thousands | 2013 | 2012 | 2011 | ||||||||||
Current | |||||||||||||
Federal | $ | (62 | ) | $ | 1,693 | $ | 130 | ||||||
State | (11 | ) | 99 | (929 | ) | ||||||||
(73 | ) | 1,792 | (799 | ) | |||||||||
Deferred | |||||||||||||
Federal | 35,109 | 31,187 | 35,021 | ||||||||||
State | 6,669 | 10,424 | 8,603 | ||||||||||
41,778 | 41,611 | 43,624 | |||||||||||
Total provision for income taxes | $ | 41,705 | $ | 43,403 | $ | 42,825 | |||||||
Total income taxes paid | $ | 870 | $ | 2,979 | $ | 1,756 | |||||||
The following table summarizes the total provision (benefit) for income taxes for the utility and non-utility business segments for the three years ended December 31: | |||||||||||||
In thousands | 2013 | 2012 | 2011 | ||||||||||
Utility: | |||||||||||||
Current | $ | (73 | ) | $ | 1,909 | $ | (4,646 | ) | |||||
Deferred | 38,073 | 39,163 | 49,595 | ||||||||||
Deferred investment and energy tax credits | (271 | ) | (350 | ) | (422 | ) | |||||||
37,729 | 40,722 | 44,527 | |||||||||||
Non-utility business segments: | |||||||||||||
Current | — | (117 | ) | 3,846 | |||||||||
Deferred | 3,976 | 2,798 | (5,548 | ) | |||||||||
3,976 | 2,681 | (1,702 | ) | ||||||||||
Total provision for income taxes | $ | 41,705 | $ | 43,403 | $ | 42,825 | |||||||
The following table summarizes the tax effect of significant items comprising our deferred income tax accounts for the two years ended December 31: | |||||||||||||
In thousands | 2013 | 2012 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Plant and property | $ | 362,160 | $ | 322,527 | |||||||||
Regulatory income tax assets | 56,183 | 60,253 | |||||||||||
Regulatory liabilities | 71,971 | 49,197 | |||||||||||
Non-regulated deferred tax liabilities | 47,516 | 43,824 | |||||||||||
Total | $ | 537,830 | $ | 475,801 | |||||||||
Deferred tax assets: | |||||||||||||
Regulatory assets | $ | — | $ | (7,724 | ) | ||||||||
Unfunded pension and postretirement obligations | 4,112 | 6,024 | |||||||||||
Non-regulated deferred tax assets | — | (1,235 | ) | ||||||||||
Alternative minimum tax credit carryforward | 1,939 | 1,986 | |||||||||||
Loss and credit carryforwards | 45,351 | 32,997 | |||||||||||
Total | 51,402 | 32,048 | |||||||||||
Deferred income tax liabilities, net | 486,428 | 443,753 | |||||||||||
Deferred investment tax credits | 367 | 624 | |||||||||||
Deferred income taxes and investment tax credits | $ | 486,795 | $ | 444,377 | |||||||||
We have determined that we are more likely than not to realize all recorded deferred tax assets as of December 31, 2013. | |||||||||||||
On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, which allows 100% bonus depreciation for qualified property placed in service between September 9, 2010 through December 31, 2011. It also extended the 50% bonus depreciation deduction to qualifying property placed in service through 2012. On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012, which extended 50% bonus depreciation under §168(k) through 2013 for modified accelerated cost recovery system (MACRS) property with a recovery period of 20 years or less. | |||||||||||||
The Company estimates that it has net operating loss (NOL) carryforwards of $113.0 million for federal taxes and $113.7 million for Oregon taxes at December 31, 2013. The NOL carryforwards will be carried forward to reduce our current tax liability in future years. We anticipate that we will be able to utilize the entire NOL carryforwards before they expire in 20 years for federal and 15 years for Oregon. | |||||||||||||
Uncertain tax positions are accounted for in accordance with accounting standards that require management’s assessment of the expected treatment of a tax position taken in a filed tax return, or planned to be taken in a future tax return, that has not been reflected in measuring income tax expense for financial reporting purposes. Until such positions are sustained by the taxing authorities, we would not recognize the tax benefits resulting from such positions and would report the tax effect as a liability in our consolidated balance sheet. As of December 31, 2013, we had no reserves for uncertain tax positions. | |||||||||||||
As of December 31, 2013, the Company was under examination by the Internal Revenue Service for tax years 2009 through 2011, with resolution expected in 2014. The Company is also subject to examination for tax year 2012. | |||||||||||||
In 2012 the Company settled the Oregon Department of Revenue examination of tax years 2006 through 2009. This settlement resulted in an additional $0.2 million state tax expense, including interest, but that amount was offset by a corresponding refund claim with the state of California. | |||||||||||||
Interest and penalties related to any future income tax deficiencies are recorded within income tax expense in the consolidated statements of comprehensive income. |
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment [Text Block] | ' | ||||||||
10. PROPERTY, PLANT, AND EQUIPMENT | |||||||||
The following table sets forth the major classifications of our property, plant, and equipment and accumulated depreciation at December 31: | |||||||||
In thousands | 2013 | 2012 | |||||||
Utility plant in service | $ | 2,585,901 | $ | 2,435,886 | |||||
Utility construction work in progress | 28,855 | 46,831 | |||||||
Less: Accumulated depreciation | 827,380 | 789,201 | |||||||
Utility plant, net | 1,787,376 | 1,693,516 | |||||||
Non-utility plant in service | 297,330 | 296,781 | |||||||
Non-utility construction work in progress | 6,653 | 6,510 | |||||||
Less: Accumulated depreciation | 28,485 | 23,195 | |||||||
Non-utility plant, net | 275,498 | 280,096 | |||||||
Total property, plant, and equipment | $ | 2,062,874 | $ | 1,973,612 | |||||
The weighted average depreciation rate was 2.8% for utility assets and 2.2% for non-utility assets in 2013, 2012, and 2011. | |||||||||
Accumulated depreciation does not include the accumulated provision for asset removal costs of $296.3 million and $281.2 million at December 31, 2013 and 2012, respectively. These accrued asset removal costs are | |||||||||
reflected on the balance sheets as regulatory liabilities. See Note 2. |
Gas_Reserves
Gas Reserves | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Gas Reserves [Abstract] | ' | ||||||||
Gas Reserves [Text Block] | ' | ||||||||
11. GAS RESERVES | |||||||||
Our gas reserves are stated at cost, net of regulatory amortization, with the associated deferred tax benefits recorded as liabilities on the balance sheet. | |||||||||
We entered into our agreements with Encana Oil & Gas (USA) Inc. (Encana) to develop and produce physical gas reserves. These agreements are intended to provide long-term gas price protection for our utility customers rather than serving as a source of gas supply. Encana began drilling in 2011 under these agreements, and gas, which is currently being produced from our working interests in these gas fields, is sold by Encana at then prevailing market prices, with revenues from such sales, net of associated production costs, credited to our cost of gas. The cost of gas, including a carrying cost for the net rate base investment, is part of our annual Oregon PGA filing, which allows us to recover our costs through customer rates in a manner previously approved by the OPUC. This transaction acted to hedge the cost of gas for approximately 6% of our gas supplies for the year ended December 31, 2013. The following table outlines our net gas reserves investment at December 31: | |||||||||
In thousands | 2013 | 2012 | |||||||
Gas reserves, current | $ | 20,646 | $ | 14,966 | |||||
Gas reserves, non-current | 140,573 | 92,179 | |||||||
Less: Accumulated amortization | 18,575 | 7,486 | |||||||
Total gas reserves | 142,644 | 99,659 | |||||||
Less: Deferred taxes on gas reserves | 42,117 | 28,329 | |||||||
Net investment in gas reserves | $ | 100,527 | $ | 71,330 | |||||
Variable Interest Entity (VIE) Analysis | |||||||||
We concluded that the arrangement with Encana qualifies as a variable interest (VI) as our interest represents a minor portion of total extraction activities. Our investment is included on our balance sheet under gas reserves with our maximum loss exposure limited to our current investment balance. |
Investments
Investments | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Investments [Abstract] | ' | ||||||||
Investments [Text Block] | ' | ||||||||
12. INVESTMENTS | |||||||||
Investments include financial investments in life insurance policies, which are accounted for at cash surrender value, net of policy loans, and equity investments in certain partnerships and limited liability companies, which are accounted for under the equity method. The following table summarizes our other investments at December 31: | |||||||||
In thousands | 2013 | 2012 | |||||||
Investments in life insurance policies | $ | 51,791 | $ | 51,439 | |||||
Investments in gas pipeline joint ventures | 14,048 | 14,216 | |||||||
Other | 2,012 | 2,012 | |||||||
Total other investments | $ | 67,851 | $ | 67,667 | |||||
Investment in Life Insurance Policies | |||||||||
We have invested in key person life insurance contracts to provide an indirect funding vehicle for certain long-term employee and director benefit plan liabilities. The amount in the above table is reported at cash surrender value, net of policy loans. | |||||||||
Equity Method Investments | |||||||||
Palomar, a wholly-owned subsidiary of PGH, is pursuing the development of a new gas transmission pipeline that would provide an interconnection with our utility distribution system. PGH is owned 50% by NWN Energy, a wholly-owned subsidiary of NW Natural, and 50% by TransCanada American Investments Ltd., an indirect wholly-owned subsidiary of TransCanada Corporation. | |||||||||
VIE Analysis | |||||||||
PGH is a development stage VIE. As of December 31, 2013, there were no changes to our VIE analysis and, as such, we continue to report Palomar under equity method accounting based on the determination that we are not the primary beneficiary of PGH’s activities, as defined by the authoritative guidance related to consolidations, due to the fact that we have a 50% share and there are no stipulations that allow disproportionate influence over the entity. Our investment in PGH and Palomar are included in other investments on our balance sheet. Our maximum loss exposure related to PGH is limited to our equity investment balance, less our share of any cash or other assets available to us as a 50% owner. | |||||||||
Impairment Analysis | |||||||||
Our investments in nonconsolidated entities accounted for under the equity method are reviewed for impairment at each reporting period and following updates to our corporate planning assumptions. When it is determined that a loss in value is other than temporary, a charge is recognized for the difference between the investment’s carrying value and its estimated fair value. Fair value is based on quoted market prices when available, or on the present value of expected future cash flows. Differing assumptions could affect the timing and amount of a charge recorded in any period. | |||||||||
In 2011, Palomar withdrew its original application with the FERC for a proposed natural gas pipeline in Oregon and informed FERC that it intended to re-file an application to reflect changes in the project scope aligning the project with the region’s current and future gas infrastructure needs. Palomar continues working with customers in the Pacific Northwest to further understand their gas transportation needs and determine the commercial support for a revised pipeline proposal. A new FERC certificate application is expected to be filed to reflect a revised scope based on these regional needs. | |||||||||
Due to project scope changes in 2011, a portion of the assets were impaired and, as a result, we recorded a pre-tax charge of $1.3 million for our share of these costs at December 31, 2011. There have been no significant changes or impairments to the project since 2011. Our remaining equity investment was not impaired at December 31, 2013 as the fair value of expected cash flows from planned development exceeded our remaining equity investment of $13.4 million at December 31, 2013. However, if we learn that the project is not viable or will not go forward, then we could be required to recognize a maximum charge of up to approximately $13.2 million based on the current amount of our equity investment, net of cash and working capital at Palomar. We will continue to monitor and update our impairment analysis as required. |
Derivative_Instruments
Derivative Instruments | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||
Derivative Instruments [Text Block] | ' | ||||||||||||||||
13. DERIVATIVE INSTRUMENTS | |||||||||||||||||
We enter into financial derivative contracts to meet our utility’s natural gas sales requirements. These contracts include swaps, options, and combinations of option contracts. We primarily use these derivative financial instruments to manage commodity price variability. A small portion of our derivative hedging strategy involves foreign currency exchange contracts. Our financial derivatives used to meet our utility's natural gas requirements qualify for regulatory accounting deferral. | |||||||||||||||||
We enter into these financial derivatives, up to prescribed limits, to hedge price variability related to our physical gas | |||||||||||||||||
supply contracts as well as to hedge spot purchases of natural gas. The foreign currency forward contracts are used to hedge the fluctuation in foreign currency exchange rates for pipeline demand charges paid in Canadian dollars. | |||||||||||||||||
In the normal course of business, we also enter into indexed-price physical forward natural gas commodity purchase contracts and options to meet the requirements of utility customers. These contracts qualify for regulatory deferral accounting treatment. We also enter into exchange contracts related to the optimization of our gas portfolio, which are derivatives that do not qualify for hedge accounting or regulatory deferral, but are subject to our regulatory sharing agreement. | |||||||||||||||||
Notional Amounts | |||||||||||||||||
The following table presents the absolute notional amounts related to open positions on our derivative instruments: | |||||||||||||||||
At December 31, | |||||||||||||||||
In thousands | 2013 | 2012 | |||||||||||||||
Natural gas (in therms): | |||||||||||||||||
Financial | 389,225 | 395,820 | |||||||||||||||
Physical | 552,500 | 398,250 | |||||||||||||||
Foreign exchange | $ | 15,002 | $ | 13,231 | |||||||||||||
PGA | |||||||||||||||||
Derivatives entered into by the utility for the procurement or hedging of natural gas for future gas years and prior to our annual PGA filing receive regulatory deferred accounting treatment. Derivative contracts entered into after the annual PGA rate is set for the current gas contract year are subject to our PGA incentive sharing mechanism, which provides for either an 80% or 90% deferral of any gains and losses as regulatory assets or liabilities, with the remaining 20% or 10% recognized in current income. For the current gas year we have selected the 90% deferral option. In general, our commodity hedging for the current gas year is completed prior to the start of the upcoming gas year, and hedge prices are included in the Company's weighted-average cost of gas (WACOG) in the PGA filing. As of November 1, 2013, we reached our target hedge percentage for the 2013-14 gas year, and these hedge prices were included in the PGA filing and qualified for regulatory deferral. | |||||||||||||||||
Unrealized and Realized Gain/Loss | |||||||||||||||||
The following table reflects the income statement presentation for the unrealized gains and losses from our derivative instruments. Outstanding derivative instruments related to regulated utility operations are deferred in accordance with regulatory accounting standards. | |||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||
In thousands | Natural gas commodity | Foreign exchange | Natural gas commodity | Foreign exchange | |||||||||||||
Benefit (expense) to cost of gas | $ | 4,985 | $ | (300 | ) | $ | (5,850 | ) | $ | 65 | |||||||
Less: | |||||||||||||||||
Amounts deferred to regulatory accounts on balance sheet | (4,964 | ) | 300 | 5,850 | (65 | ) | |||||||||||
Total gain in pre-tax earnings | $ | 21 | $ | — | $ | — | $ | — | |||||||||
The cost of foreign currency forward and natural gas derivative contracts are recognized immediately in the cost of gas; however, costs above or below the amount embedded in the current year PGA are subject to a regulatory deferral tariff and therefore, are recorded as a regulatory asset or liability. | |||||||||||||||||
We realized net losses of $11.0 million and $70.2 million for the years ended December 31, 2013 and 2012, respectively, from the settlement of natural gas financial derivative contracts. These realized losses were recorded as increases to the cost of gas. | |||||||||||||||||
Credit Risk Management of Financial Derivatives Instruments | |||||||||||||||||
No collateral was posted with or by our counterparties as of December 31, 2013 or 2012. We attempt to minimize the potential exposure to collateral calls by counterparties to manage our liquidity risk. Counterparties generally allow a certain credit limit threshold before requiring us to post collateral against loss positions. Given our counterparty credit limits and portfolio diversification, we have not been subject to collateral calls in 2013 or 2012. Our collateral call exposure is set forth under credit support agreements, which generally contain credit limits. We could also be subject to collateral call exposure where we have agreed to provide adequate assurance, which is not specific as to the amount of credit limit allowed, but could potentially require additional collateral in the event of a material adverse change. Based upon current financial swap and option contracts outstanding, which reflect unrealized gains of $5.4 million at December 31, 2013, we do not have any collateral demand exposure. | |||||||||||||||||
Our financial derivative instruments are subject to master netting arrangements; however, they are presented on a gross basis on the face of our statement of financial position. The Company and its counterparties have the ability to set-off their obligations to each other under specified circumstances. Such circumstances may include when there is a defaulting party or in the event of a credit change due to a merger that affects either party or any other termination event. | |||||||||||||||||
If netted by counterparty, our derivative position would result in an asset of $7.2 million and a liability of $2.5 million as of December 31, 2013. As of December 31, 2012, our derivative position would result in an asset of $5.6 million and a liability of $11.4 million. | |||||||||||||||||
We are exposed to derivative credit risk primarily through securing pay-fixed natural gas commodity swaps to hedge the risk of price increases for our natural gas purchases on behalf of customers. We utilize master netting arrangements through International Swaps and Derivatives Association contracts to minimize this risk along with collateral support agreements with counterparties based on their credit ratings. In certain cases we require guarantees or letters of credit from counterparties in order for them to meet our minimum credit requirement standards. | |||||||||||||||||
Our financial derivatives policy requires counterparties to have a certain investment-grade credit rating at the time the derivative instrument is entered into, and the policy specifies limits on the contract amount and duration based on each counterparty’s credit rating. We do not speculate with derivatives; instead we utilize derivatives to hedge our exposure above risk tolerance limits. Any increase in market risk created by the use of derivatives should be offset by the exposures they modify. | |||||||||||||||||
We actively monitor our derivative credit exposure and place counterparties on hold for trading purposes or require other forms of credit assurance, such as letters of credit, cash collateral or guarantees as circumstances warrant. Our ongoing assessment of counterparty credit risk includes consideration of credit ratings, credit default swap spreads, bond market credit spreads, financial condition, government actions and market news. We utilize a Monte-Carlo simulation model to estimate the change in credit and liquidity risk from the volatility of natural gas prices. We use the results of the model to establish earnings-at-risk trading limits. Our credit risk for all outstanding financial derivatives at December 31, 2013 currently does not extend beyond March 2016. | |||||||||||||||||
We could become materially exposed to credit risk with one or more of our counterparties if natural gas prices experience a significant increase. If a counterparty were to become insolvent or fail to perform on its obligations, we could suffer a material loss, but we would expect such loss to be eligible for regulatory deferral and rate recovery, subject to prudence review. All of our existing counterparties currently have investment-grade credit ratings. | |||||||||||||||||
Fair Value | |||||||||||||||||
In accordance with fair value accounting, we include nonperformance risk in calculating fair value adjustments. This includes a credit risk adjustment based on the credit spreads of our counterparties when we are in an unrealized gain position, or on our own credit spread when we are in an unrealized loss position. The inputs in our valuation techniques include natural gas futures, volatility, credit default swap spreads and interest rates. Additionally, our assessment of non-performance risk is generally derived from the credit default swap market and from bond market credit spreads. The impact of the credit risk adjustments for all outstanding derivatives was immaterial to the fair value calculation at December 31, 2013. As of December 31, 2013 and 2012, the net fair value was an asset of $4.7 million and a liability of $5.8 million, respectively, using significant other observable, or level 2, inputs. We have used no level 3 inputs in our derivative valuations. We did not have any transfers between level 1 or level 2 during the years ended December 31, 2013 and 2012. See Note 2. |
Commitments_and_Contigencies
Commitments and Contigencies | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure Commitments And Contingencies [Abstract] | ' | ||||||||||||
Commitments and Contingencies [Text Block] | ' | ||||||||||||
14. COMMITMENTS AND CONTINGENCIES | |||||||||||||
Leases | |||||||||||||
We lease land, buildings, and equipment under agreements that expire in various years, including a 99-year land lease that extends through 2108. Rental expense under operating leases was $5.1 million, $4.8 million and $5.4 million for the years ended December 31, 2013, 2012 and 2011, respectively. The following table reflects the future minimum lease payments due under non-cancelable leases at December 31, 2013. These commitments relate principally to the lease of our office headquarters, underground gas storage facilities, and computer equipment. | |||||||||||||
In thousands | Operating leases | Capital leases | Minimum lease payments | ||||||||||
2014 | $ | 5,611 | $ | 462 | $ | 6,073 | |||||||
2015 | 5,530 | 196 | 5,726 | ||||||||||
2016 | 5,510 | 82 | 5,592 | ||||||||||
2017 | 5,506 | 12 | 5,518 | ||||||||||
2018 | 2,858 | — | 2,858 | ||||||||||
Thereafter | 34,836 | — | 34,836 | ||||||||||
Total | $ | 59,851 | $ | 752 | $ | 60,603 | |||||||
Gas Purchase and Pipeline Capacity Purchase and Release Commitments | |||||||||||||
We have signed agreements providing for the reservation of firm pipeline capacity under which we are required to make fixed monthly payments for contracted capacity. The pricing component of the monthly payment is established, subject to change, by U.S. or Canadian regulatory bodies. In addition, we have entered into long-term sale agreements to release firm pipeline capacity. We also enter into short-term and long-term gas purchase agreements. The aggregate amounts of these agreements were as follows at December 31, 2013: | |||||||||||||
In thousands | Gas | Pipeline | Pipeline | ||||||||||
Purchase Agreements | Capacity | Capacity | |||||||||||
Purchase Agreements | Release Agreements | ||||||||||||
2014 | $ | 60,692 | $ | 94,923 | $ | 3,739 | |||||||
2015 | — | 77,433 | — | ||||||||||
2016 | — | 66,146 | — | ||||||||||
2017 | — | 52,084 | — | ||||||||||
2018 | — | 42,263 | — | ||||||||||
Thereafter | — | 216,995 | — | ||||||||||
Total | 60,692 | 549,844 | 3,739 | ||||||||||
Less: Amount representing interest | 20 | 113,437 | — | ||||||||||
Total at present value | $ | 60,672 | $ | 436,407 | $ | 3,739 | |||||||
Our total payments for fixed charges under capacity purchase agreements were $98.2 million in 2013, $94.3 million in 2012, and $94.2 million in 2011. Included in the amounts were reductions for capacity release sales of $4.5 million for 2013, $4.2 million for 2012, and $3.1 million for 2011. In addition, per-unit charges are required to be paid based on the actual quantities shipped under the agreements. In certain take-or-pay purchase commitments, annual deficiencies may be offset by prepayments subject to recovery over a longer term if future purchases exceed the minimum annual requirements. | |||||||||||||
Environmental Matters | |||||||||||||
See Note 15 Environmental Matters for a discussion of environmental commitments and contingencies. |
Environmental_Matters
Environmental Matters | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Environmental Matters [Abstract] | ' | ||||||||||||||||
Environmental Matters [Text Block] | ' | ||||||||||||||||
15. ENVIRONMENTAL MATTERS | |||||||||||||||||
We own, or previously owned, properties that may require environmental remediation or action. We estimate the range of loss for environmental liabilities based on current remediation technology, enacted laws and regulations, industry experience gained at similar sites and an assessment of the probable level of involvement and financial condition of other potentially responsible parties. Due to the numerous uncertainties surrounding the course of environmental remediation and the preliminary nature of several site investigations, in some cases, we may not be able to reasonably estimate the high end of the range of possible loss. In those cases, we have disclosed the nature of the possible loss and the fact that the high end of the range cannot be reasonably estimated. Unless there is an estimate within a range of possible losses that is more likely than other cost estimates within that range, we record the liability at the low end of this range. It is likely that changes in these estimates and ranges will occur throughout the remediation process for each of these sites due to our continued evaluation and clarification concerning our responsibility, the complexity of environmental laws and regulations and the determination by regulators of remediation alternatives. | |||||||||||||||||
In the 2012 Oregon general rate case, the new SRRM mechanism was approved to recover the Company's deferred environmental costs. The Commission ordered a separate docket to determine the prudence of deferred costs, the allocation of insurance proceeds, and an earnings test that would be applied to past and future deferred costs. In July 2013, all parties filed a settlement agreement with the OPUC to address how to apply the new mechanism. In November, the Commission rejected the settlement and ordered further proceedings. We have established a schedule with parties for 2014 and are working toward resolution of this matter. | |||||||||||||||||
In Washington, cost recovery and carrying charges on amounts deferred for costs associated with services provided to Washington customers will be determined in a future proceeding. We annually review all regulatory assets for recoverability and more often if circumstances warrant. If we should determine that all or a portion of these regulatory assets no longer meet the criteria for continued application of regulatory accounting, then we would be required to write off the net unrecoverable balances against earnings in the period such determination is made. | |||||||||||||||||
In December 2010, NW Natural commenced litigation against certain of its historical liability insurers in Multnomah County Circuit Court, State of Oregon (see Part I, Item 3 "Legal Proceedings"). In the complaint, NW Natural sought damages in excess of $50 million in losses it incurred through the date of the complaint, as well as declaratory relief for additional losses it expects to incur in the future. As of February 6, 2014, we had settled with all defendant insurance companies in this litigation. As a result of this settlement, the Company expects to receive additional payments aggregating approximately $102 million in 2014 related to the settlements. Such payments are to be made in the first and second quarters of 2014. Through December 31, 2013, we have received approximately $48 million. See Note 17 for additional information. | |||||||||||||||||
Environmental Sites | |||||||||||||||||
The following table summarizes information regarding liabilities related to environmental sites, which are recorded in other current liabilities and other noncurrent liabilities on the balance sheet at December 31: | |||||||||||||||||
Current Liabilities | Non-Current Liabilities | ||||||||||||||||
In thousands | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Portland Harbor site: | |||||||||||||||||
Gasco/Siltronic Sediments | $ | 1,278 | $ | 2,207 | $ | 37,954 | $ | 36,087 | |||||||||
Other Portland Harbor | 1,766 | 1,767 | 3,478 | 3,160 | |||||||||||||
Gasco Upland site | 11,010 | 18,722 | 39,508 | 5,028 | |||||||||||||
Siltronic Upland site | 763 | 637 | 406 | 379 | |||||||||||||
Central Service Center site | 85 | 140 | 248 | 396 | |||||||||||||
Front Street site | 1,274 | 993 | 122 | — | |||||||||||||
Oregon Steel Mills | — | — | 179 | 185 | |||||||||||||
Total | $ | 16,176 | $ | 24,466 | $ | 81,895 | $ | 45,235 | |||||||||
The following table presents information regarding the total amount of cash paid for environmental sites and the total regulatory asset deferred as of December 31: | |||||||||||||||||
In thousands | 2013 | 2012 | |||||||||||||||
Cash paid(1) | $ | 98,817 | $ | 71,124 | |||||||||||||
Total regulatory asset deferral(2) | 148,389 | 121,144 | |||||||||||||||
(1) Includes $20.1 million reclassified to utility plant in 2013 associated with the water treatment station of which a portion was paid in 2012. | |||||||||||||||||
(2) Includes cash paid, remaining liability, and interest, net of insurance reimbursement and amounts reclassified to utility plant for the water treatment station. | |||||||||||||||||
PORTLAND HARBOR SITE. The Portland Harbor is an EPA listed Superfund site that is approximately 11 miles long on the Willamette River and is adjacent to NW Natural's Gasco upland and Siltronic upland sites. We have been notified that we are a potentially responsible party to the Superfund site and we have joined with other potentially responsible parties (the Lower Willamette Group or LWG) to develop a Portland Harbor Remedial Investigation/Feasibility Study (RI/FS). The LWG submitted a draft Feasibility Study (FS) to the Environmental Protection Agency (EPA) in March 2012 that provides a range of remedial costs for the entire Portland Harbor Superfund Site, which includes the Gasco/Siltronic Sediment site, discussed below. The range of costs estimated for various remedial alternatives for the entire Portland Harbor, as provided in the draft FS, is $169 million to $1.8 billion. NW Natural's potential liability is a portion of the costs of the remedy the EPA will select for the entire Portland Harbor Superfund site. The cost of that remedy is expected to be allocated among more than 100 potentially responsible parties. NW Natural is participating in a non-binding allocation process in an effort to settle this potential liability. We manage our liability related to the Superfund site as two distinct remediation projects, the Gasco/Siltronic Sediment and Other Portland Harbor projects. | |||||||||||||||||
Gasco/Siltronic Sediments. In 2009, NW Natural and Siltronic Corporation entered into a separate Administrative Order on Consent with the EPA to evaluate and design specific remedies for sediments adjacent to the Gasco upland and Siltronic upland sites. NW Natural submitted a draft Engineering Evaluation/Cost Analysis (EE/CA) to the EPA in May 2012 to provide the estimated cost of potential remedial alternatives for this site. At this time, the estimated costs for the various sediment remedy alternatives in the draft EE/CA range from $39.2 million to $350 million. We have recorded a liability of $39.2 million for the sediment clean-up, which reflects the low end of the EE/CA range, as well as costs for the additional studies and design work needed before the clean-up can occur, and for regulatory oversight throughout the clean-up. At this time, we believe sediments at this site represent the largest portion of our liability related to the Portland Harbor site, discussed above. | |||||||||||||||||
Other Portland Harbor. NW Natural incurs costs related to its membership in the LWG which is performing the RI/FS for the EPA. NW Natural also incurs costs related to natural resource damages from these sites. The Company and other parties have signed a cooperative agreement with the Portland Harbor Natural Resource Trustee council to participate in a phased natural resource damage assessment to estimate liabilities to support an early restoration-based settlement of natural resource damage claims. Natural resource damage claims may arise only after a remedy for clean-up has been settled. We have accrued a liability for these claims which is at the low end of the range of the potential liability and the high end of the range cannot be reasonably estimated. This liability is not included in the range of costs provided in the draft FS for the Portland Harbor. | |||||||||||||||||
Gasco upland site. NW Natural owns a former gas manufacturing plant that was closed in 1958 (Gasco site) and is adjacent to the Portland Harbor site described above. The Gasco site has been under investigation by us for environmental contamination under the ODEQ Voluntary Clean-Up Program. It is not included in the range of remedial costs for the Portland Harbor site. We manage the Gasco site in two parts, the uplands portion and the groundwater source control action. | |||||||||||||||||
In May 2007, we completed a revised Remedial Investigation Report for the uplands portion and submitted it to ODEQ for review. We have recognized a liability for the remediation of the uplands portion of the site which is at the low end of the range of potential liability and the high end of the range cannot be reasonably estimated at this time. | |||||||||||||||||
In September 2013, we completed construction and placed into service a groundwater source control system, including a water treatment station, at the Gasco site. We are working with ODEQ on monitoring the effectiveness of the system and at this time it is unclear what, if any, additional actions ODEQ may require subsequent to the initial testing of the system or as part of the final remedy for the uplands portion of the Gasco site. We have estimated the cost associated with the ongoing operation of the system and have recognized a liability which is at the low end of the range of potential cost. We cannot estimate the high end of the range due to the uncertainty associated with the duration of running the water treatment station, which will be highly dependent upon the remedy determined for both the upland portion as well as the final remedy for our Gasco sediment exposure. | |||||||||||||||||
On October 28, 2013, the OPUC approved placing $19.0 million of capital costs associated with constructing a water treatment station at our Gasco environmental site into rates beginning November 1, 2013. These amounts are subject to refund, with interest, in the event the Commission determines, through a separate docket, that any of these costs were incurred imprudently. On February 13, 2014, NW Natural filed an all-party stipulation in the proceeding with the OPUC, which if approved would deem Gasco construction costs prudent and would also approve applying $2.5 million of insurance proceeds plus interest to reduce the Gasco costs included in rates beginning November 1, 2014. | |||||||||||||||||
Other sites. In addition to those sites above, we have environmental exposures at four other sites: Siltronic, Central Service Center, Front Street, and Oregon Steel Mills. Due to the uncertainty of the design of remediation, regulation, timing of the liabilities, and in the case of the Oregon Steel Mills site, pending litigation, liabilities for each of these sites has been recognized at their respective low end of the range of potential liability; the high end of the range could not be reasonably estimated as of December 31, 2013. | |||||||||||||||||
Siltronic upland site. Siltronic is the location of a manufactured gas plant formerly owned by NW Natural. We are currently conducting an investigation of manufactured gas plant wastes on the uplands at this site for the ODEQ. | |||||||||||||||||
Central Service Center site. We are currently performing an environmental investigation of the property under the ODEQ's Independent Cleanup Pathway. This site is on ODEQ's list of sites with confirmed releases of hazardous substances, and cleanup is necessary. | |||||||||||||||||
Front Street site. The Front Street site was the former location of a gas manufacturing plant we operated. Studies for source control investigation have been presented to ODEQ and a final sampling plan required by ODEQ is currently being developed. | |||||||||||||||||
Oregon Steel Mills site. See “Legal Proceedings,” below. | |||||||||||||||||
Legal Proceedings | |||||||||||||||||
NW Natural is subject to claims and litigation arising in the ordinary course of business. Although the final outcome of any of these legal proceedings cannot be predicted with certainty, including the matter described below, NW Natural does not expect that the ultimate disposition of any of these matters will have a material effect on our financial condition, results of operations or cash flows. See also Part I, Item 3, “Legal Proceedings.” | |||||||||||||||||
OREGON STEEL MILLS SITE. In 2004, NW Natural was served with a third-party complaint by the Port of Portland (the Port) in a Multnomah County Circuit Court case, Oregon Steel Mills, Inc. v. The Port of Portland. The Port alleges that in the 1940s and 1950s petroleum wastes generated by our predecessor, Portland Gas & Coke Company, and 10 other third-party defendants, were disposed of in a waste oil disposal facility operated by the United States or Shaver Transportation Company on property then owned by the Port and now owned by Oregon Steel Mills. The complaint seeks contribution for unspecified past remedial action costs incurred by the Port regarding the former waste oil disposal facility as well as a declaratory judgment allocating liability for future remedial action costs. No date has been set for trial. Although the final outcome of this proceeding cannot be predicted with certainty, we do not expect that the ultimate disposition of this matter will have a material effect on our financial condition, results of operations or cash flows. |
Revision
Revision | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Accounting Changes and Error Corrections [Abstract] | ' | ||||||||||||||||||||||||||||||||
Revision [Text Block] | ' | ||||||||||||||||||||||||||||||||
16. REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS | |||||||||||||||||||||||||||||||||
During the first quarter of 2013, we identified an error in the rate used to calculate interest on certain regulatory assets. Accounting standards allow for the capitalization of all or part of an incurred cost that would otherwise be charged to expense if the regulator provides orders that create probable recovery of past costs through future revenues. Historically we had accrued interest as specified by regulatory order on certain regulatory balances at our authorized rate of return (ROR). This ROR includes both a debt and equity component, which we are allowed to recover from customers in the form of a carrying cost on regulatory deferred account balances. As the equity component of our ROR is not an incurred cost that would otherwise be charged to expense, this portion of the carrying cost should not have been capitalized for financial reporting purposes. | |||||||||||||||||||||||||||||||||
We assessed the materiality of this error on prior period financial statements and concluded it was not material to any prior annual or interim periods; however, the cumulative impact would have been material to the annual and interim periods for 2013, if corrected in 2013. As a result, in accordance with accounting standards, we revised our prior period financial statements as described below to correct this error. The revision had no effect on reported cash flows. | |||||||||||||||||||||||||||||||||
The adjustment impacted years 2003 through 2012 with a cumulative pre-tax decrease over that period of $5.6 million to regulatory assets and other income and expense. The revision decreased net income by $1.1 million and $0.9 million for the years ended December 31, 2012 and 2011, respectively. The cumulative decrease to January 1, 2011 retained earnings was $1.4 million as a result of the revision. | |||||||||||||||||||||||||||||||||
The following table presents the income statement impacts of this revision for the years ended December 31: | |||||||||||||||||||||||||||||||||
2012 | 2011 | ||||||||||||||||||||||||||||||||
In thousands, except per share data | Reported Balance | Adjust- ment | Adjusted Balance | Reported Balance | Adjust- ment | Adjusted Balance | |||||||||||||||||||||||||||
Other income and expense, net | $ | 4,936 | $ | (1,777 | ) | $ | 3,159 | $ | 4,523 | $ | (1,411 | ) | $ | 3,112 | |||||||||||||||||||
Income before income taxes | 103,959 | (1,777 | ) | 102,182 | 107,280 | (1,411 | ) | 105,869 | |||||||||||||||||||||||||
Income tax expense | 44,104 | (701 | ) | 43,403 | 43,382 | (557 | ) | 42,825 | |||||||||||||||||||||||||
Net Income | 59,855 | (1,076 | ) | 58,779 | 63,898 | (854 | ) | 63,044 | |||||||||||||||||||||||||
Comprehensive income | 58,364 | (1,076 | ) | 57,288 | 62,702 | (854 | ) | 61,848 | |||||||||||||||||||||||||
Basic EPS | 2.23 | (0.04 | ) | 2.19 | 2.39 | (0.03 | ) | 2.36 | |||||||||||||||||||||||||
Diluted EPS | 2.22 | (0.04 | ) | 2.18 | 2.39 | (0.03 | ) | 2.36 | |||||||||||||||||||||||||
The following table presents the balance sheet impacts of this revision as of December 31: | |||||||||||||||||||||||||||||||||
2012 | 2011 | ||||||||||||||||||||||||||||||||
In thousands | Reported Balance | Adjustment | Adjusted Balance | Reported Balance | Adjustment | Adjusted Balance | |||||||||||||||||||||||||||
Non-current assets: | |||||||||||||||||||||||||||||||||
Regulatory assets | $ | 387,888 | $ | (5,633 | ) | $ | 382,255 | $ | 371,392 | $ | (3,856 | ) | $ | 367,536 | |||||||||||||||||||
Total non-current assets | 2,535,054 | (5,633 | ) | 2,529,421 | 2,397,885 | (3,856 | ) | 2,394,029 | |||||||||||||||||||||||||
Total assets | 2,818,753 | (5,633 | ) | 2,813,120 | 2,746,574 | (3,856 | ) | 2,742,718 | |||||||||||||||||||||||||
Liabilities and equity: | |||||||||||||||||||||||||||||||||
Deferred credits and other non-current liabilities: | |||||||||||||||||||||||||||||||||
Deferred tax liabilities | $ | 446,604 | $ | (2,227 | ) | $ | 444,377 | $ | 413,209 | $ | (1,526 | ) | $ | 411,683 | |||||||||||||||||||
Total deferred credits and other non-current liabilities | 1,025,584 | (2,227 | ) | 1,023,357 | 975,922 | (1,526 | ) | 974,396 | |||||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||||||
Retained earnings | 385,753 | (3,406 | ) | 382,347 | 373,905 | (2,330 | ) | 371,575 | |||||||||||||||||||||||||
Total equity | 733,033 | (3,406 | ) | 729,627 | 714,488 | (2,330 | ) | 712,158 | |||||||||||||||||||||||||
Total liabilities and equity | 2,818,753 | (5,633 | ) | 2,813,120 | 2,746,574 | (3,856 | ) | 2,742,718 | |||||||||||||||||||||||||
The following tables present the income statement and balance sheet corrections for the following quarters: | |||||||||||||||||||||||||||||||||
2012 | |||||||||||||||||||||||||||||||||
First Quarter | Second Quarter | Third Quarter | Fourth Quarter | ||||||||||||||||||||||||||||||
In thousands, except per share data | Reported Balance | Adjusted Balance | Reported Balance | Adjusted Balance | Reported Balance | Adjusted Balance | Reported Balance | Adjusted Balance | |||||||||||||||||||||||||
Other income and expense, net | $ | 1,005 | $ | 472 | $ | 921 | $ | 620 | $ | 1,710 | $ | 1,180 | $ | 1,300 | $ | 887 | |||||||||||||||||
Income (loss) before income taxes | 68,480 | 67,947 | 2,296 | 1,995 | (13,594 | ) | (14,124 | ) | 46,777 | 46,364 | |||||||||||||||||||||||
Income tax expense (benefit) | 27,873 | 27,663 | 887 | 768 | (3,036 | ) | (3,245 | ) | 18,380 | 18,217 | |||||||||||||||||||||||
Net income (loss) | 40,607 | 40,284 | 1,409 | 1,227 | (10,558 | ) | (10,879 | ) | 28,397 | 28,147 | |||||||||||||||||||||||
Comprehensive income (loss) | 40,773 | 40,450 | 1,575 | 1,393 | (10,391 | ) | (10,712 | ) | 26,407 | 26,157 | |||||||||||||||||||||||
Basic EPS | 1.52 | 1.5 | 0.05 | 0.05 | (0.39 | ) | (0.41 | ) | 1.06 | 1.05 | |||||||||||||||||||||||
Diluted EPS | 1.51 | 1.5 | 0.05 | 0.05 | (0.39 | ) | (0.41 | ) | 1.05 | 1.04 | |||||||||||||||||||||||
Non-current assets: | |||||||||||||||||||||||||||||||||
Regulatory assets | $ | 368,521 | $ | 364,132 | $ | 366,981 | $ | 362,290 | $ | 367,692 | $ | 362,472 | $ | 387,888 | $ | 382,255 | |||||||||||||||||
Total non-current assets | 2,416,372 | 2,411,983 | 2,448,359 | 2,443,668 | 2,492,467 | 2,487,247 | 2,535,054 | 2,529,421 | |||||||||||||||||||||||||
Total assets | 2,727,262 | 2,722,873 | 2,635,141 | 2,630,450 | 2,690,368 | 2,685,148 | 2,818,753 | 2,813,120 | |||||||||||||||||||||||||
Liabilities and equity: | |||||||||||||||||||||||||||||||||
Deferred credits and other non-current liabilities: | |||||||||||||||||||||||||||||||||
Deferred tax liabilities | $ | 438,486 | $ | 436,750 | $ | 440,073 | $ | 438,217 | $ | 430,885 | $ | 428,821 | $ | 446,604 | $ | 444,377 | |||||||||||||||||
Total deferred credits and other non-current liabilities | 999,028 | 997,292 | 991,007 | 989,151 | 985,729 | 983,665 | 1,025,584 | 1,023,357 | |||||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||||||
Retained earnings | 402,599 | 399,946 | 392,082 | 389,247 | 369,584 | 366,428 | 385,753 | 382,347 | |||||||||||||||||||||||||
Total equity | 745,971 | 743,318 | 737,570 | 734,735 | 717,559 | 714,403 | 733,033 | 729,627 | |||||||||||||||||||||||||
Total liabilities and equity | 2,727,262 | 2,722,873 | 2,635,141 | 2,630,450 | 2,690,368 | 2,685,148 | 2,818,753 | 2,813,120 | |||||||||||||||||||||||||
2011 | |||||||||||||||||||||||||||||||||
First Quarter | Second Quarter | Third Quarter | Fourth Quarter | ||||||||||||||||||||||||||||||
In thousands, except per share data | Reported Balance | Adjusted Balance | Reported Balance | Adjusted Balance | Reported Balance | Adjusted Balance | Reported Balance | Adjusted Balance | |||||||||||||||||||||||||
Other income and expense, net | $ | 1,214 | $ | 1,291 | $ | 1,122 | $ | 779 | $ | 1,781 | $ | 1,426 | $ | 406 | $ | (384 | ) | ||||||||||||||||
Income (loss) before income taxes | 68,627 | 68,704 | 3,509 | 3,166 | (14,012 | ) | (14,367 | ) | 49,156 | 48,366 | |||||||||||||||||||||||
Income tax expense (benefit) | 27,854 | 27,884 | 1,316 | 1,181 | (5,700 | ) | (5,840 | ) | 19,912 | 19,600 | |||||||||||||||||||||||
Net income (loss) | 40,773 | 40,820 | 2,193 | 1,985 | (8,312 | ) | (8,527 | ) | 29,244 | 28,766 | |||||||||||||||||||||||
Comprehensive income (loss) | 40,919 | 40,966 | 2,339 | 2,131 | (8,166 | ) | (8,381 | ) | 27,610 | 27,132 | |||||||||||||||||||||||
Basic EPS | 1.53 | 1.53 | 0.08 | 0.07 | (0.31 | ) | (0.32 | ) | 1.09 | 1.08 | |||||||||||||||||||||||
Diluted EPS | 1.53 | 1.53 | 0.08 | 0.07 | (0.31 | ) | (0.32 | ) | 1.09 | 1.07 | |||||||||||||||||||||||
Non-current assets: | |||||||||||||||||||||||||||||||||
Regulatory assets | $ | 345,452 | $ | 343,085 | $ | 326,081 | $ | 323,371 | $ | 328,757 | $ | 325,692 | $ | 371,392 | $ | 367,536 | |||||||||||||||||
Total non-current assets | 2,290,848 | 2,288,481 | 2,294,100 | 2,291,390 | 2,317,293 | 2,314,228 | 2,397,885 | 2,394,029 | |||||||||||||||||||||||||
Total assets | 2,571,553 | 2,569,186 | 2,521,994 | 2,519,284 | 2,567,840 | 2,564,775 | 2,746,574 | 2,742,718 | |||||||||||||||||||||||||
Liabilities and equity: | |||||||||||||||||||||||||||||||||
Deferred credits and other non-current liabilities: | |||||||||||||||||||||||||||||||||
Deferred tax liabilities | $ | 396,357 | $ | 395,419 | $ | 398,825 | $ | 397,751 | $ | 394,217 | $ | 393,003 | $ | 413,209 | $ | 411,683 | |||||||||||||||||
Total deferred credits and other non-current liabilities | 873,714 | 872,776 | 874,842 | 873,768 | 866,927 | 865,713 | 975,922 | 974,396 | |||||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||||||
Retained earnings | 385,899 | 384,470 | 376,489 | 374,853 | 356,574 | 354,723 | 373,905 | 371,575 | |||||||||||||||||||||||||
Total equity | 723,228 | 721,799 | 714,628 | 712,992 | 696,605 | 694,754 | 714,488 | 712,158 | |||||||||||||||||||||||||
Total liabilities and equity | 2,571,553 | 2,569,186 | 2,521,994 | 2,519,284 | 2,567,840 | 2,564,775 | 2,746,574 | 2,742,718 | |||||||||||||||||||||||||
Subsequent_Event
Subsequent Event | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
17. SUBSEQUENT EVENT | |
In December 2010, NW Natural commenced litigation against certain of its historical liability insurers. NW Natural alleged that the defendant insurance companies issued third party liability insurance policies to NW Natural and that the defendants had breached the terms of those policies by failing to reimburse and indemnify NW Natural for liabilities arising from environmental contamination at certain sites caused or alleged to be caused by its historical operations. | |
NW Natural sought damages in excess of $50 million in losses it had incurred through the date of the complaint, as well as declaratory relief for additional damages it expected to incur in the future. Settlements with certain of the defendant insurance companies resulted in payments received by NW Natural through December 31, 2013 of approximately $48 million. | |
In January and February 2014, the remaining defendant insurance companies agreed to settle all of NW Natural’s claims. In 2014 the Company expects to receive additional payments aggregating approximately $102 million under settlement agreements signed in 2013 and 2014. Such payments are to be made in the first and second quarters of 2014. As a result of such settlements, the Company anticipates dismissal of the litigation in the second quarter of 2014. | |
The settlements are recognized in regulatory accounts with the treatment determined through the SRRM. We expect the open regulatory docket regarding SRRM to be resolved during 2014. |
Quarterly_Financial_Informatio
Quarterly Financial Information | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Schedule Of Quarterly Financial Information [Abstract] | ' | ||||||||||||||||
Quarterly Financial Information [Text Block] | ' | ||||||||||||||||
NORTHWEST NATURAL GAS COMPANY | |||||||||||||||||
QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | |||||||||||||||||
Quarter ended | |||||||||||||||||
In thousands, except share data | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
2013 | |||||||||||||||||
Operating revenues | $ | 277,861 | $ | 131,714 | $ | 88,195 | $ | 260,748 | |||||||||
Net income (loss) | 37,639 | 2,126 | (8,233 | ) | 29,006 | ||||||||||||
Basic earnings (loss) per share(1) | 1.4 | 0.08 | (0.31 | ) | 1.07 | ||||||||||||
Diluted earnings (loss) per share(1) | 1.4 | 0.08 | (0.31 | ) | 1.07 | ||||||||||||
2012 | |||||||||||||||||
Operating revenues | $ | 309,639 | $ | 103,991 | $ | 87,501 | $ | 229,476 | |||||||||
Net income (loss)(2) | 40,284 | 1,227 | (10,879 | ) | 28,147 | ||||||||||||
Basic earnings (loss) per share(1)(2) | 1.5 | 0.05 | (0.41 | ) | 1.05 | ||||||||||||
Diluted earnings (loss) per share(1)(2) | 1.5 | 0.05 | (0.41 | ) | 1.04 | ||||||||||||
(1) Quarterly earnings (loss) per share are based upon the average number of common shares outstanding during each quarter. Variations in earnings between quarterly periods are due primarily to the seasonal nature of our business. | |||||||||||||||||
(2) Prior period balances have been adjusted for a prior period error identified during the first quarter of 2013. See Note 16 for reconciliation to amounts previously reported. |
Valuation_Allowances_and_Reser
Valuation Allowances and Reserves | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Valuation Allowances and Reserves [Abstract] | ' | ||||||||||||||||||||
Schedule of Valuation and Qualifying Accounts [Text Block] | ' | ||||||||||||||||||||
NORTHWEST NATURAL GAS COMPANY | |||||||||||||||||||||
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES | |||||||||||||||||||||
COLUMN A | COLUMN B | COLUMN C | COLUMN D | COLUMN E | |||||||||||||||||
Additions | Deductions | ||||||||||||||||||||
In thousands (year ended December 31) | Balance at beginning of period | Charged to costs and expenses | Charged to other accounts | Net write-offs | Balance at end of period | ||||||||||||||||
2013 | |||||||||||||||||||||
Reserves deducted in balance sheet from assets to which they apply: | |||||||||||||||||||||
Allowance for uncollectible accounts | $ | 2,518 | $ | 199 | $ | — | $ | 1,061 | $ | 1,656 | |||||||||||
2012 | |||||||||||||||||||||
Reserves deducted in balance sheet from assets to which they apply: | |||||||||||||||||||||
Allowance for uncollectible accounts | $ | 2,895 | $ | 1,130 | $ | — | $ | 1,507 | $ | 2,518 | |||||||||||
2011 | |||||||||||||||||||||
Reserves deducted in balance sheet from assets to which they apply: | |||||||||||||||||||||
Allowance for uncollectible accounts | $ | 2,950 | $ | 1,919 | $ | — | $ | 1,974 | $ | 2,895 | |||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
Consolidation, Policy [Policy Text Block] | ' | |
1. ORGANIZATION AND PRINCIPLES OF CONSOLIDATION | ||
The accompanying consolidated financial statements represent the consolidated results of Northwest Natural Gas Company (NW Natural or the Company) and all companies that we directly or indirectly control, either through majority ownership or otherwise. We have two core businesses: our regulated local gas distribution business, referred to as the utility segment, which serves residential, commercial, and industrial customers in Oregon and southwest Washington; and our gas storage businesses, referred to as the gas storage segment, which provides storage services for utilities, gas marketers, electric generators, and large industrial users from storage facilities located in Oregon and California. In addition, we have investments and other non-utility activities that we aggregate and report as other. | ||
Our direct and indirect wholly-owned subsidiaries include NW Natural Energy, LLC (NWN Energy), NW Natural Gas Storage, LLC (NWN Gas Storage), Gill Ranch Storage, LLC (Gill Ranch), NNG Financial Corporation (NNG Financial), Northwest Energy Corporation (Energy Corp), and NW Natural Gas Reserves, LLC (NWN Gas Reserves). Investments in corporate joint ventures and partnerships that we do not directly or indirectly control, and for which we are not the primary beneficiary, are accounted for under the equity method, which includes NWN Energy’s investment in Palomar Gas Holdings, LLC (PGH) and NNG Financial's investment in Kelso-Beaver (KB) Pipeline. NW Natural and its affiliated companies are collectively referred to herein as NW Natural. The consolidated financial statements are presented after elimination of all significant intercompany balances and transactions, except for amounts required to be included under regulatory accounting standards to reflect the effect of such regulation. In this report, the term “utility” is used to describe our regulated gas distribution business, and the term “non-utility” is used to describe our gas storage businesses and other non-utility investments and business activities. | ||
During the first quarter of 2013, we identified an error in the rate used to calculate interest on regulatory assets. We assessed the materiality of this error on prior period financial statements and concluded it was not material to any prior annual or interim periods; however, the cumulative impact would have been material to the annual and interim periods for 2013, if corrected in 2013. As a result, in accordance with accounting standards, we have revised our prior period financial statements as shown in Note 16 to correct this error. | ||
Certain prior year balances in our consolidated financial statements and notes have been reclassified to conform with the current presentation. These reclassifications had no impact on our prior year’s consolidated results of operations, financial condition or cash flows. | ||
Use of Estimates, Policy [Policy Text Block] | ' | |
Use of Estimates | ||
The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America (GAAP) requires management to make estimates and assumptions that affect reported amounts in the consolidated financial statements and accompanying notes. Actual amounts could differ from those estimates, and changes would most likely be reported in future periods. Management believes that the estimates and assumptions used are reasonable. | ||
Public Utilities, Policy [Policy Text Block] | ' | |
Industry Regulation | ||
Our principal businesses are the distribution of natural gas, which is regulated by the OPUC and WUTC, and natural gas storage services, which are regulated by either the FERC or the CPUC, and to a certain extent by the OPUC. Accounting records and practices of our regulated businesses conform to the requirements and uniform system of accounts prescribed by these regulatory authorities in accordance with GAAP. Our businesses regulated by the OPUC, WUTC and FERC earn a reasonable return on invested capital from approved cost-based rates, while our business regulated by the CPUC earns a return to the extent we are able to charge competitive prices above our costs (i.e. market-based rates). | ||
In applying regulatory accounting principles, we capitalize or defer certain costs and revenues as regulatory assets and liabilities pursuant to orders of the OPUC or WUTC, which provides for the recovery of revenues or expenses from, or refunds to, utility customers in future periods, including a return or a carrying charge in certain cases. | ||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | |
Plant, Property and Accrued Asset Removal Costs | ||
Plant and property are stated at cost, including capitalized labor, materials and overhead. In accordance with regulatory accounting standards, the cost of acquiring and constructing long-lived plant and property generally includes an allowance for funds used during construction (AFUDC) or capitalized interest. AFUDC represents the regulatory financing cost incurred when debt and equity funds are used for construction (see “Allowance for Funds Used During Construction” below). When constructed assets are subject to market-based rates rather than cost-based rates, the financing costs incurred during construction are included in capitalized interest in accordance with GAAP, not as regulatory financing costs under AFUDC. | ||
Asset Retirement Obligations, Policy [Policy Text Block] | ' | |
In accordance with long-standing regulatory treatment, our depreciation rates consist of three components: one based on the average service life of the asset, a second based on the estimated salvage value of the asset, and a third based on the asset’s estimated cost of removal. We collect, through rates, the estimated cost of removal on certain regulated properties through depreciation expense, with a corresponding offset to accumulated depreciation. These removal costs are non-legal obligations as defined by regulatory accounting guidance. Therefore, we have included these costs as non-current regulatory liabilities rather than as accumulated depreciation on our consolidated balance sheets. In the rate setting process, the liability for removal costs is treated as a reduction to the net rate base upon which the regulated utility has the opportunity to earn its allowed rate of return. | ||
Depreciation, Depletion, and Amortization [Policy Text Block] | ' | |
Our provision for depreciation of utility property, plant and equipment is recorded under the group method on a straight-line basis with rates computed in accordance with depreciation studies approved by regulatory authorities. The weighted average depreciation rate for utility assets in service was approximately 2.8% in 2013, 2012, and 2011, reflecting the approximate weighted average economic life of the property. This includes 2013 weighted average depreciation rates for the following asset categories: 2.7% for transmission and distribution plant, 2.2% for gas storage facilities, 4.3% for general plant, and 4.1% for intangible and other fixed assets. | ||
Allowance for Funds Used During Construction, Policy [Policy Text Block] | ' | |
AFUDC. Certain additions to utility plant include AFUDC, which represents the net cost of debt and equity funds used during construction. AFUDC is calculated using actual interest rates for debt and authorized rates for ROE, if applicable. If short-term debt balances are less than the total balance of construction work in progress, then a composite AFUDC rate is used to represent interest on all debt funds, shown as a reduction to interest charges, and on ROE funds, shown as other income. While cash is not immediately recognized from recording AFUDC, it is realized in future years through rate recovery resulting from the higher utility cost of service. Our composite AFUDC rates were 0.3% in 2013 and 2012, and 0.5% in 2011. | ||
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | ' | |
IMPAIRMENT OF LONG-LIVED ASSETS. We review the carrying value of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of the assets might not be recoverable. Factors that would necessitate an impairment assessment of long-lived assets include a significant adverse change in the extent or manner in which the asset is used, a significant adverse change in legal factors or business climate that could affect the value of the asset, or a significant decline in the observable market value or expected future cash flows of the asset, among others. | ||
If such factors indicate a potential impairment, we assess the recoverability by determining if the carrying value of the asset exceeds the sum of the projected future cash flows over the remaining economic life of the asset. An asset is determined to be impaired when the carrying value is not recoverable through undiscounted future cash flows, and in those cases, we would estimate the fair value of the asset using appropriate valuation methodologies, which may include an estimate of discounted cash flows. Any impairment would be measured as the difference between the asset’s carrying amount and its estimated fair value. | ||
While we determined there were no material impairments of long-lived assets during the year ended December 31, 2013, if our gas storage facilities experience sustained decreases in future cash flows due to a prolonged, slow recovery of the gas storage market, future assessments could result in an impairment. | ||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | |
Cash and Cash Equivalents | ||
For purposes of reporting cash flows, cash and cash equivalents include cash on hand plus highly liquid investment accounts with original maturity dates of three months or less. At December 31, 2013 and 2012, outstanding checks of approximately $2.8 million and $2.3 million, respectively, were included in accounts payable. | ||
Revenue Recognition, Policy [Policy Text Block] | ' | |
Revenue Recognition and Accrued Unbilled Revenue | ||
Utility revenues, derived primarily from the sale and transportation of natural gas, are recognized upon delivery of gas commodity or service to customers. Revenues include accruals for gas delivered but not yet billed to customers based on estimates of deliveries from meter reading dates to month end (accrued unbilled revenue). Accrued unbilled revenue is dependent upon a number of factors that require management’s judgment, including total gas receipts and deliveries, customer use by billing cycle and weather factors. Accrued unbilled revenue is reversed the following month when actual billings occur. Our accrued unbilled revenue at December 31, 2013 and 2012 was $61.5 million and $57.0 million, respectively. | ||
From 2007 through 2010, utility margin also included the recognition of a regulatory adjustment for income taxes paid pursuant to a legislative rule (commonly referred to as SB 408) in effect for certain gas and electric utilities in Oregon. In 2011, SB 408 was repealed and replaced by Senate Bill SB 967. SB 967 required utilities to eliminate amounts accrued under SB 408, which resulted in a one-time pre-tax charge of $7.4 million in 2011. | ||
Non-utility revenues are derived primarily from the gas storage segment. At our Mist underground storage facility, revenues are recognized upon delivery of services to customers. At our Gill Ranch facility, firm storage services resulting from short-term and long-term contracts are typically recognized in revenue ratably over the term of the contract regardless of the actual storage capacity utilized. In addition, we also have asset management service revenue primarily from an independent energy marketing company that optimizes commodity and pipeline capacity release transactions. Under this agreement, guaranteed asset management revenue is recognized using a straight-line, pro-rata methodology over the term of each contract. Revenues earned above the guaranteed amount are recognized as they are earned. See Note 4. | ||
Revenue Tax Policy [Text Block] | ' | |
Revenue Taxes | ||
Revenue-based taxes are primarily franchise taxes, which are collected from customers and remitted to taxing authorities. Revenue taxes are included in operating revenues in the statement of comprehensive income. | ||
Receivables, Policy [Policy Text Block] | ' | |
Accounts Receivable and Allowance for Uncollectible Accounts | ||
Accounts receivable consist primarily of amounts due for natural gas sales and transportation services to utility customers, plus amounts due for gas storage services. With respect to these trade receivables, including accrued unbilled revenue, we establish an allowance for uncollectible accounts (allowance) based on the aging of receivables, collection experience of past due account balances including payment plans, and historical trends of write-offs as a percent of revenues. With respect to large individual customer receivables, a specific allowance is established and recorded when amounts are identified as unlikely to be partially or fully recovered. Inactive accounts are written-off against the allowance after they are 120 days past due or when deemed to be uncollectible. Differences between our estimated allowance and actual write-offs will occur based on a number of factors, including changes in economic conditions, customer creditworthiness and the level of natural gas prices. Each quarter the allowance for uncollectible accounts is adjusted, as necessary, based on information currently available. | ||
Inventory, Policy [Policy Text Block] | ' | |
Inventories | ||
Utility gas inventories, which consist of natural gas in storage for the utility, are stated at the lower of average cost or net realizable value. The regulatory treatment of utility gas inventories provides for cost recovery in customer rates. Utility gas inventories that are injected into storage are priced into inventory based on actual purchase costs. Utility gas inventories that are withdrawn from storage are charged to cost of gas during the current period at the weighted average inventory cost. | ||
Gas storage inventories, which primarily represent inventories at the Gill Ranch storage facility, consist primarily of natural gas that we received as fuel-in-kind from storage customers. Gas storage inventories are valued at the lower of average cost or net realizable value. Cushion gas is not included in our inventory balances. It is recorded at original cost and classified as a long-term plant asset. | ||
Material and supplies inventories consist of both utility and non-utility inventories and are stated at the lower of average cost or net realizable value. | ||
Our utility and gas storage inventories totaled $51.4 million and $58.8 million at December 31, 2013 and 2012, respectively. At December 31, 2013 and 2012, our materials and supplies inventories totaled $9.3 million and $8.8 million | ||
Gas Reserves Policy [Text Block] | ' | |
Gas Reserves | ||
Our gas reserves are stated at cost, adjusted for regulatory amortization, with the associated deferred tax benefits recorded as liabilities on the balance sheet. Transactional costs to enter into the agreement and payments by NW Natural to acquire gas reserves are recognized as gas reserves on the balance sheet. The current portion is calculated based on expected gas deliveries within the next fiscal year. We recognize regulatory amortization of this asset on a volumetric basis calculated using the estimated gas reserves and the estimated therms extracted and sold each month. The amortization of gas reserves is recorded to cost of gas along with gas production revenues and production costs. See Note 11. | ||
Derivatives, Policy [Policy Text Block] | ' | |
Derivatives | ||
In accordance with accounting for derivatives and hedges, we measure derivatives at fair value and recognize them as either assets or liabilities on the balance sheet. Accounting for derivatives requires that changes in the fair value be recognized currently in earnings unless specific hedge accounting criteria are met. Accounting for derivatives and hedges provides an exception for contracts intended for normal purchases and normal sales for which physical delivery is probable. In addition, certain derivative contracts are approved by regulatory authorities for recovery or refund through customer rates. Accordingly, the changes in fair value of these approved contracts are deferred as regulatory assets or liabilities pursuant to regulatory accounting principles. Our financial derivatives generally qualify for deferral under regulatory accounting. The Company’s index-priced physical derivative contracts also qualify for regulatory deferral accounting treatment. | ||
Derivative contracts entered into for utility requirements after the annual PGA rate has been set and that PGA year has begun are subject to the PGA incentive sharing mechanism. In Oregon we participate in a PGA sharing mechanism under which we are required to select either an 80% or 90% deferral of higher or lower gas costs such that the impact on current earnings from the gas cost sharing is either 20% or 10% of gas cost differences compared to PGA prices, respectively. For the PGA years in Oregon beginning November 1, 2013, 2012 and 2011, we selected a 90% deferral of gas cost differences. In Washington, 100% of the differences between the PGA prices and actual gas costs are deferred. See Note 13. | ||
Our financial derivatives policy sets forth the guidelines for using selected derivative products to support prudent risk management strategies within designated parameters. Our objective for using derivatives is to decrease the volatility of gas prices, earnings, and cash flows without speculative risk. The use of derivatives is permitted only after the risk exposures have been identified, are determined to exceed acceptable tolerance levels, and are determined necessary to support normal business activities. We do not enter into derivative instruments for trading purposes | ||
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' | |
Fair Value | ||
In accordance with fair value accounting, we use the following fair value hierarchy for determining inputs for our debt, pension plan assets and our derivative fair value measurements: | ||
• | Level 1: Valuation is based upon quoted prices for identical instruments traded in active markets; | |
• | Level 2: Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market; and | |
• | Level 3: Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect our own estimates of assumptions that market participants would use in valuing the asset or liability. | |
When developing fair value measurements, it is our policy to use quoted market prices whenever available, or to maximize the use of observable inputs and minimize the use of unobservable inputs when quoted market prices are not available. Fair values are primarily developed using industry-standard models that consider various inputs including: (a) quoted future prices for commodities; (b) forward currency prices; (c) time value; (d) volatility factors; (e) current market and contractual prices for underlying instruments; (f) market interest rates and yield curves; (g) credit spreads; (h) and other relevant economic measures. | ||
Income Tax, Policy [Policy Text Block] | ' | |
Income Tax Expense | ||
NW Natural and its wholly-owned subsidiaries file consolidated federal, state, and local income tax returns. Income taxes are currently allocated based on each entity’s respective taxable income or loss and tax credits as if each entity filed a separate return. We account for income taxes in accordance with accounting standards for income taxes. Accounting for income taxes requires recognition of deferred tax liabilities and assets for the future tax consequences of events that have been included in the consolidated financial statements or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. See Note 9. | ||
Accounting for income taxes also requires recognition of deferred income tax assets and liabilities for temporary differences where regulators prohibit deferred income tax treatment for ratemaking purposes. We have recorded deferred tax liabilities of $56.2 million and $60.3 million at December 31, 2013 and 2012, respectively, to recognize future taxes payable resulting from transactions that have previously been reflected in the financial statements for these temporary differences. Regulatory assets or liabilities corresponding to such additional deferred income tax assets or liabilities may be recorded to the extent we believe they will be recoverable from or payable to customers through the ratemaking process. A corresponding regulatory asset has been recorded which represents the probable future revenue that will result from inclusion in rates charged to customers for taxes which will be paid in the future. The probable future revenue to be recorded takes into consideration the additional future taxes which will be generated by that revenue. Amounts applicable to income taxes due from customers primarily represent differences between the financial statement and tax basis of net utility plant in service and actual removal costs incurred. | ||
Deferred investment tax credits on utility plant additions, which reduce income taxes payable, are deferred for financial statement purposes and amortized over the life of the related plant or lease. | ||
Commitments and Contingencies, Policy [Policy Text Block] | ' | |
Environmental Contingencies | ||
Loss contingencies are recorded as liabilities when it is probable that a liability has been incurred and the amount of the loss is reasonably estimable in accordance with accounting standards for contingencies. Estimating probable losses requires an analysis of uncertainties that often depend upon judgments about potential actions by third parties. Accruals for loss contingencies are recorded based on an analysis of potential results. | ||
With respect to environmental liabilities and related costs, we develop estimates based on a review of information available from numerous sources, including completed studies and site specific negotiations. It is our policy to accrue the full amount of such liability when information is sufficient to reasonably estimate the amount of probable liability. When information is not available to reasonably estimate the probable liability, or when only the range of probable liabilities can be estimated and no amount within the range is more likely than another, then it is our policy to accrue at the low end of the range. Accordingly, due to numerous uncertainties surrounding the course of environmental remediation and the preliminary nature of several site investigations, in some cases, we may not be able to reasonably estimate the high end of the range of possible loss. In those cases we have disclosed the nature of the potential loss and the fact that the high end of the range cannot be reasonably estimated. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Schedule of Regulatory Assets [Table Text Block] | ' | ||||||||
Regulatory Assets | |||||||||
In thousands | 2013 | 2012 | |||||||
Current: | |||||||||
Unrealized loss on derivatives(1) | $ | 1,891 | $ | 10,796 | |||||
Other(2) | 20,744 | 41,652 | |||||||
Total current | $ | 22,635 | $ | 52,448 | |||||
Non-current: | |||||||||
Unrealized loss on derivatives(1) | $ | 615 | $ | 578 | |||||
Pension balancing(3) | 25,713 | 14,727 | |||||||
Income tax asset | 51,814 | 55,879 | |||||||
Pension and other postretirement benefit liabilities(3) | 125,855 | 182,688 | |||||||
Environmental costs(4) | 148,389 | 121,144 | |||||||
Other(2) | 17,217 | 7,239 | |||||||
Total non-current | $ | 369,603 | $ | 382,255 | |||||
Schedule of Regulatory Liabilities [Table Text Block] | ' | ||||||||
Regulatory Liabilities | |||||||||
In thousands | 2013 | 2012 | |||||||
Current: | |||||||||
Gas costs | $ | 7,510 | $ | 9,100 | |||||
Unrealized gain on derivatives(1) | 5,290 | 1,950 | |||||||
Other(2) | 15,535 | 9,742 | |||||||
Total current | $ | 28,335 | $ | 20,792 | |||||
Non-current: | |||||||||
Gas costs | $ | 2,172 | $ | — | |||||
Unrealized gain on derivatives(1) | 1,880 | 3,639 | |||||||
Accrued asset removal costs | 296,294 | 281,213 | |||||||
Other(2) | 3,139 | 3,261 | |||||||
Total non-current | $ | 303,485 | $ | 288,113 | |||||
Earnings_Per_Share_tables
Earnings Per Share (tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
EPS Calculation [Table Text Block] | ' | ||||||||||||
In thousands, except per share data | 2013 | 2012 | 2011 | ||||||||||
Net income | $ | 60,538 | $ | 58,779 | $ | 63,044 | |||||||
Average common shares outstanding - basic | 26,974 | 26,831 | 26,687 | ||||||||||
Additional shares for stock-based compensation plans (See Note 6) | 53 | 76 | 57 | ||||||||||
Average common shares outstanding - diluted | 27,027 | 26,907 | 26,744 | ||||||||||
Earnings per share of common stock - basic | $ | 2.24 | $ | 2.19 | $ | 2.36 | |||||||
Earnings per share of common stock - diluted | $ | 2.24 | $ | 2.18 | $ | 2.36 | |||||||
Additional information: | |||||||||||||
Antidilutive shares not included in net income per diluted common share calculation | 26 | 1 | 2 | ||||||||||
Segment_Reporting_tables
Segment Reporting (tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ||||||||||||||||
In thousands | Utility | Gas Storage | Other | Total | |||||||||||||
2013 | |||||||||||||||||
Operating revenues | $ | 727,182 | $ | 31,112 | $ | 224 | $ | 758,518 | |||||||||
Depreciation and amortization | 69,420 | 6,485 | — | 75,905 | |||||||||||||
Income from operations | 128,066 | 14,669 | 11 | 142,746 | |||||||||||||
Net income | 54,920 | 5,569 | 49 | 60,538 | |||||||||||||
Capital expenditures | 137,466 | 1,458 | — | 138,924 | |||||||||||||
Total assets at December 31, 2013 | 2,644,367 | 310,097 | 16,447 | 2,970,911 | |||||||||||||
2012 | |||||||||||||||||
Operating revenues | $ | 699,862 | $ | 30,520 | $ | 225 | $ | 730,607 | |||||||||
Depreciation and amortization | 66,545 | 6,472 | — | 73,017 | |||||||||||||
Income from operations | 128,854 | 13,226 | 100 | 142,180 | |||||||||||||
Net income | 54,049 | 4,521 | 209 | 58,779 | |||||||||||||
Capital expenditures | 130,151 | 1,541 | 337 | 132,029 | |||||||||||||
Total assets at December 31, 2012 | 2,505,655 | 291,568 | 15,897 | 2,813,120 | |||||||||||||
2011 | |||||||||||||||||
Operating revenues | $ | 801,478 | $ | 26,354 | $ | 223 | $ | 828,055 | |||||||||
Depreciation and amortization | 63,843 | 6,161 | — | 70,004 | |||||||||||||
Income from operations | 135,722 | 9,090 | 33 | 144,845 | |||||||||||||
Net income (loss) | 59,673 | 4,101 | (730 | ) | 63,044 | ||||||||||||
Capital expenditures | 94,049 | 6,485 | — | 100,534 | |||||||||||||
Utility Margin [Table Text Block] | ' | ||||||||||||||||
In thousands | 2013 | 2012 | 2011 | ||||||||||||||
Utility margin calculation: | |||||||||||||||||
Utility operating revenues | $ | 727,182 | $ | 699,862 | $ | 801,478 | |||||||||||
Less: Utility cost of gas | 373,298 | 355,335 | 458,508 | ||||||||||||||
Utility margin | $ | 353,884 | $ | 344,527 | $ | 342,970 | |||||||||||
Common_Stock_Shares_Outstandin
Common Stock Shares Outstanding (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Stockholders' Equity Note [Abstract] | ' | ||
Summary Of Common Stock Shares Issued And Outstanding Table [Text Block] | ' | ||
In thousands | Shares | ||
Balance, December 31, 2010 | 26,668 | ||
Sales to employees under ESPP | 15 | ||
Stock-based compensation | 24 | ||
Sales to shareholders under DRPP | 49 | ||
Balance, December 31, 2011 | 26,756 | ||
Sales to employees under ESPP | 18 | ||
Stock-based compensation | 47 | ||
Sales to shareholders under DRPP | 96 | ||
Balance, December 31, 2012 | 26,917 | ||
Sales to employees under ESPP | 16 | ||
Stock-based compensation | 42 | ||
Sales to shareholders under DRPP | 100 | ||
Balance, December 31, 2013 | 27,075 | ||
StockBased_Compensation_tables
Stock-Based Compensation (tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||||||
Schedule of Share-based Payment Awards [Table Text Block] | ' | ||||||||||||||
Expense in millions | Shares (1) | Expense During Award Year(3) | Total Expense for Award | ||||||||||||
Estimated award: | |||||||||||||||
2011-2013 grant(2) | 9,516 | $ | 0.4 | $ | 1 | ||||||||||
Actual award: | |||||||||||||||
2010-2012 grant | 9,924 | 0.5 | 1.2 | ||||||||||||
2009-2011 grant | 8,428 | 0.4 | 0.8 | ||||||||||||
Schedule Of Performance Based Award [Table Text Block] | ' | ||||||||||||||
Dollars in thousands | Performance Share Awards Outstanding | 2013 | Cumulative Expense | ||||||||||||
Performance Period | Target | Maximum | Expense | 31-Dec-13 | |||||||||||
2011-13 | 37,950 | 75,900 | $ | 390 | $ | 960 | |||||||||
2012-14 | 35,340 | 70,680 | 603 | 1,238 | |||||||||||
2013-15 | 37,300 | 74,600 | 486 | 486 | |||||||||||
Total | 110,590 | 221,180 | $ | 1,479 | |||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | ||||||||||||||
Number of RSUs | Weighted - | ||||||||||||||
Average | |||||||||||||||
Price Per RSU | |||||||||||||||
Nonvested, Dec. 31, 2011 | — | $ | — | ||||||||||||
Granted | 25,224 | 47.58 | |||||||||||||
Vested | — | — | |||||||||||||
Forfeited | (360 | ) | 48 | ||||||||||||
Nonvested, Dec. 31, 2012 | 24,864 | 47.57 | |||||||||||||
Granted | 25,748 | 45.38 | |||||||||||||
Vested | (5,455 | ) | 48.01 | ||||||||||||
Forfeited | (590 | ) | 46.58 | ||||||||||||
Nonvested, Dec. 31, 2013 | 44,567 | 46.27 | |||||||||||||
SOP Assumptions [Table Text Block] | ' | ||||||||||||||
2011 | |||||||||||||||
Risk-free interest rate | 2 | % | |||||||||||||
Expected life (in years) | 4.5 | ||||||||||||||
Expected market price volatility factor | 24.5 | % | |||||||||||||
Expected dividend yield | 3.8 | % | |||||||||||||
Forfeiture rate | 3.1 | % | |||||||||||||
Weighted average grant date fair value | $ | 6.73 | |||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||
Option | Weighted - | Intrinsic | |||||||||||||
Shares | Average | Value | |||||||||||||
Price Per Share | (In millions) | ||||||||||||||
Balance outstanding, Dec. 31, 2010 | 490,460 | $ | 40.82 | $ | 2.8 | ||||||||||
Granted | 122,700 | 45.74 | n/a | ||||||||||||
Exercised | (24,185 | ) | 33.88 | 0.3 | |||||||||||
Forfeited | (9,750 | ) | 44.38 | n/a | |||||||||||
Balance outstanding, Dec. 31, 2011 | 579,225 | 42.09 | 3.4 | ||||||||||||
Exercised | (46,825 | ) | 40.62 | 0.4 | |||||||||||
Forfeited | (2,475 | ) | 43.78 | n/a | |||||||||||
Balance outstanding, Dec. 31, 2012 | 529,925 | 42.22 | 1.3 | ||||||||||||
Exercised | (33,800 | ) | 32.16 | 0.3 | |||||||||||
Forfeited | (3,975 | ) | 43.72 | n/a | |||||||||||
Balance outstanding, Dec. 31, 2013 | 492,150 | 42.89 | 0.6 | ||||||||||||
Exercisable, | 409,036 | 42.41 | 0.6 | ||||||||||||
Dec. 31, 2013 | |||||||||||||||
Schedule Of Stock Based Compensation Capitalized Under LTIP SOP and ESPP [Table Text Block] | ' | ||||||||||||||
In thousands | 2013 | 2012 | 2011 | ||||||||||||
Operations and maintenance expense, for stock-based compensation | $ | 1,876 | $ | 1,668 | $ | 1,477 | |||||||||
Income tax benefit | (765 | ) | (707 | ) | (597 | ) | |||||||||
Net stock-based compensation effect on net income | $ | 1,111 | $ | 961 | $ | 880 | |||||||||
Amounts capitalized for stock-based compensation | $ | 331 | $ | 294 | $ | 261 | |||||||||
Debt_tables
Debt (tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Long-term Debt, Current and Noncurrent [Abstract] | ' | ||||||||
Schedule of Maturities of Long-term Debt [Table Text Block] | ' | ||||||||
In thousands | |||||||||
Year | |||||||||
2014 | $ | 60,000 | |||||||
2015 | 40,000 | ||||||||
2016 | 65,000 | ||||||||
2017 | 40,000 | ||||||||
2018 | 22,000 | ||||||||
Schedule of Debt [Table Text Block] | ' | ||||||||
In thousands | 2013 | 2012 | |||||||
First Mortgage Bonds | |||||||||
8.26 % Series B due 2014 | $ | 10,000 | $ | 10,000 | |||||
3.95 % Series B due 2014 | 50,000 | 50,000 | |||||||
4.70 % Series B due 2015 | 40,000 | 40,000 | |||||||
5.15 % Series B due 2016 | 25,000 | 25,000 | |||||||
7.00 % Series B due 2017 | 40,000 | 40,000 | |||||||
6.60 % Series B due 2018 | 22,000 | 22,000 | |||||||
8.31 % Series B due 2019 | 10,000 | 10,000 | |||||||
7.63 % Series B due 2019 | 20,000 | 20,000 | |||||||
5.37 % Series B due 2020 | 75,000 | 75,000 | |||||||
9.05 % Series A due 2021 | 10,000 | 10,000 | |||||||
3.176 % Series B due 2021 | 50,000 | 50,000 | |||||||
3.542% Series B due 2023 | 50,000 | — | |||||||
5.62 % Series B due 2023 | 40,000 | 40,000 | |||||||
7.72 % Series B due 2025 | 20,000 | 20,000 | |||||||
6.52 % Series B due 2025 | 10,000 | 10,000 | |||||||
7.05 % Series B due 2026 | 20,000 | 20,000 | |||||||
7.00 % Series B due 2027 | 20,000 | 20,000 | |||||||
6.65 % Series B due 2027 | 19,700 | 19,700 | |||||||
6.65 % Series B due 2028 | 10,000 | 10,000 | |||||||
7.74 % Series B due 2030 | 20,000 | 20,000 | |||||||
7.85 % Series B due 2030 | 10,000 | 10,000 | |||||||
5.82 % Series B due 2032 | 30,000 | 30,000 | |||||||
5.66 % Series B due 2033 | 40,000 | 40,000 | |||||||
5.25 % Series B due 2035 | 10,000 | 10,000 | |||||||
4.00 % Series due 2042 | 50,000 | 50,000 | |||||||
701,700 | 651,700 | ||||||||
Subsidiary Senior Secured Debt | |||||||||
Gill Ranch debt due 2016 | 40,000 | 40,000 | |||||||
741,700 | 691,700 | ||||||||
Less: Current maturities of long-term debt | 60,000 | — | |||||||
Total long-term debt | $ | 681,700 | $ | 691,700 | |||||
Fair Value Of Long Term Debt Table [Text Block] | ' | ||||||||
December 31, | |||||||||
In thousands | 2013 | 2012 | |||||||
Carrying amount | $ | 741,700 | $ | 691,700 | |||||
Estimated fair value | 806,359 | 834,664 | |||||||
Pension_and_Other_Postretireme1
Pension and Other Postretirement Benefits (tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||
General Discussion of Pension and Other Postretirement Benefits [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||
Postretirement Benefit Plans | |||||||||||||||||||||||||||||||||||||
Pension Benefits | Other Benefits | ||||||||||||||||||||||||||||||||||||
In thousands | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||
Reconciliation of change in benefit obligation: | |||||||||||||||||||||||||||||||||||||
Obligation at January 1 | $ | 435,889 | $ | 391,127 | $ | 33,119 | $ | 30,049 | |||||||||||||||||||||||||||||
Service cost | 8,698 | 8,047 | 656 | 592 | |||||||||||||||||||||||||||||||||
Interest cost | 16,400 | 17,295 | 1,157 | 1,267 | |||||||||||||||||||||||||||||||||
Net actuarial (gain) loss | (51,043 | ) | 37,615 | (4,283 | ) | 3,182 | |||||||||||||||||||||||||||||||
Benefits paid | (18,855 | ) | (18,195 | ) | (1,895 | ) | (1,971 | ) | |||||||||||||||||||||||||||||
Obligation at December 31 | $ | 391,089 | $ | 435,889 | $ | 28,754 | $ | 33,119 | |||||||||||||||||||||||||||||
Reconciliation of change in plan assets: | |||||||||||||||||||||||||||||||||||||
Fair value of plan assets at January 1 | $ | 249,603 | $ | 215,970 | $ | — | $ | — | |||||||||||||||||||||||||||||
Actual return on plan assets | 22,872 | 26,683 | — | — | |||||||||||||||||||||||||||||||||
Employer contributions | 13,442 | 25,145 | 1,895 | 1,971 | |||||||||||||||||||||||||||||||||
Benefits paid | (18,855 | ) | (18,195 | ) | (1,895 | ) | (1,971 | ) | |||||||||||||||||||||||||||||
Fair value of plan assets at December 31 | $ | 267,062 | $ | 249,603 | $ | — | $ | — | |||||||||||||||||||||||||||||
Funded status at December 31 | $ | (124,027 | ) | $ | (186,286 | ) | $ | (28,754 | ) | $ | (33,119 | ) | |||||||||||||||||||||||||
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||
Regulatory Assets | Other Comprehensive Income | ||||||||||||||||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | Pension Benefits | |||||||||||||||||||||||||||||||||||
In thousands | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Net actuarial (gain) loss | $ | (51,892 | ) | $ | 26,504 | $ | 66,404 | $ | (4,283 | ) | $ | 3,182 | $ | 2,225 | $ | (3,302 | ) | $ | 3,511 | $ | 2,948 | ||||||||||||||||
Amortization of: | |||||||||||||||||||||||||||||||||||||
Transition obligation | — | — | — | — | (411 | ) | (411 | ) | — | — | — | ||||||||||||||||||||||||||
Prior service cost | (230 | ) | (230 | ) | (230 | ) | (197 | ) | (197 | ) | (197 | ) | 7 | 35 | (122 | ) | |||||||||||||||||||||
Actuarial loss | (16,744 | ) | (14,482 | ) | (10,731 | ) | (733 | ) | (435 | ) | (289 | ) | (1,550 | ) | (1,150 | ) | (854 | ) | |||||||||||||||||||
Total | $ | (68,866 | ) | $ | 11,792 | $ | 55,443 | $ | (5,213 | ) | $ | 2,139 | $ | 1,328 | $ | (4,845 | ) | $ | 2,396 | $ | 1,972 | ||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||
Regulatory Assets | AOCL | ||||||||||||||||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | Pension Benefits | |||||||||||||||||||||||||||||||||||
In thousands | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Prior service cost | $ | 867 | $ | 1,097 | $ | 685 | $ | 882 | $ | (5 | ) | $ | (12 | ) | |||||||||||||||||||||||
Net actuarial loss | 119,638 | 188,278 | 4,665 | 9,681 | 10,475 | 15,327 | |||||||||||||||||||||||||||||||
Total | $ | 120,505 | $ | 189,375 | $ | 5,350 | $ | 10,563 | $ | 10,470 | $ | 15,315 | |||||||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) Rollforward Table [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||
In thousands | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
Beginning balance | $ | (9,291 | ) | $ | (7,800 | ) | |||||||||||||||||||||||||||||||
Amounts reclassified to AOCL | 3,302 | (3,495 | ) | ||||||||||||||||||||||||||||||||||
Amounts reclassified from AOCL: | |||||||||||||||||||||||||||||||||||||
Amortization of prior service costs | (7 | ) | (35 | ) | |||||||||||||||||||||||||||||||||
Amortization of actuarial losses | 1,550 | 1,134 | |||||||||||||||||||||||||||||||||||
Total reclassifications before tax | 4,845 | (2,396 | ) | ||||||||||||||||||||||||||||||||||
Tax (benefit) expense | (1,912 | ) | 905 | ||||||||||||||||||||||||||||||||||
Total reclassifications for the period | 2,933 | (1,491 | ) | ||||||||||||||||||||||||||||||||||
Ending balance | $ | (6,358 | ) | $ | (9,291 | ) | |||||||||||||||||||||||||||||||
Schedule of Allocation of Plan Assets [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||
Asset Category | Target Allocation | ||||||||||||||||||||||||||||||||||||
U.S. large cap equity | 13 | % | |||||||||||||||||||||||||||||||||||
U.S. small/mid cap equity | 8.5 | ||||||||||||||||||||||||||||||||||||
Non-U.S. equity | 13 | ||||||||||||||||||||||||||||||||||||
Emerging markets equity | 3.5 | ||||||||||||||||||||||||||||||||||||
Long government/credit | 30 | ||||||||||||||||||||||||||||||||||||
High yield bonds | 5 | ||||||||||||||||||||||||||||||||||||
Emerging market debt | 5 | ||||||||||||||||||||||||||||||||||||
Real estate funds | 6 | ||||||||||||||||||||||||||||||||||||
Absolute return strategy | 11 | ||||||||||||||||||||||||||||||||||||
Real return strategy | 5 | ||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Cost Components | ' | ||||||||||||||||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | ||||||||||||||||||||||||||||||||||||
In thousands | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
Service cost | $ | 8,698 | $ | 8,047 | $ | 7,122 | $ | 656 | $ | 592 | $ | 614 | |||||||||||||||||||||||||
Interest cost | 16,400 | 17,295 | 18,134 | 1,157 | 1,267 | 1,404 | |||||||||||||||||||||||||||||||
Expected return on plan assets | (18,721 | ) | (19,082 | ) | (17,867 | ) | — | — | — | ||||||||||||||||||||||||||||
Amortization of transition obligations | — | — | — | — | 411 | 411 | |||||||||||||||||||||||||||||||
Amortization of prior service costs | 223 | 195 | 352 | 197 | 197 | 197 | |||||||||||||||||||||||||||||||
Amortization of net actuarial loss | 18,294 | 15,631 | 11,584 | 734 | 435 | 289 | |||||||||||||||||||||||||||||||
Net periodic benefit cost | 24,894 | 22,086 | 19,325 | 2,744 | 2,902 | 2,915 | |||||||||||||||||||||||||||||||
Amount allocated to construction | (6,712 | ) | (5,820 | ) | (4,905 | ) | (856 | ) | (882 | ) | (878 | ) | |||||||||||||||||||||||||
Amount deferred to regulatory balancing account(1) | (9,115 | ) | (7,876 | ) | (6,008 | ) | — | — | — | ||||||||||||||||||||||||||||
Net amount charged to expense | $ | 9,067 | $ | 8,390 | $ | 8,412 | $ | 1,888 | $ | 2,020 | $ | 2,037 | |||||||||||||||||||||||||
Sensitivity Analysis Of Retirement Benefit Costs and Benefit Obligations [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | ||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||
Assumptions for net periodic benefit cost: | |||||||||||||||||||||||||||||||||||||
Weighted-average discount rate | 3.84 | % | 4.51 | % | 5.49 | % | 3.56 | % | 4.33 | % | 5.16 | % | |||||||||||||||||||||||||
Rate of increase in compensation | 3.25-5.0% | 3.25-5.0% | 3.25-5.0% | n/a | n/a | n/a | |||||||||||||||||||||||||||||||
Expected long-term rate of return | 7.5 | % | 8 | % | 8.25 | % | n/a | n/a | n/a | ||||||||||||||||||||||||||||
Assumptions for year-end funded status: | |||||||||||||||||||||||||||||||||||||
Weighted-average discount rate | 4.73 | % | 3.85 | % | 4.51 | % | 4.45 | % | 3.56 | % | 4.33 | % | |||||||||||||||||||||||||
Rate of increase in compensation | 3.25-5.0% | 3.25-5.0% | 3.25-5.0% | n/a | n/a | n/a | |||||||||||||||||||||||||||||||
Expected long-term rate of return | 7.5 | % | 7.5 | % | 8 | % | n/a | n/a | n/a | ||||||||||||||||||||||||||||
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||
In thousands | 1% Increase | 1% Decrease | |||||||||||||||||||||||||||||||||||
Effect on net periodic postretirement health care benefit cost | $ | 73 | $ | (64 | ) | ||||||||||||||||||||||||||||||||
Effect on the accumulated postretirement benefit obligation | 739 | (660 | ) | ||||||||||||||||||||||||||||||||||
Defined Benefit Plan Estimated Future Employer Contributions Benefit Payments and Estimated Future Payments [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||
In thousands | Pension Benefits | Other Benefits | |||||||||||||||||||||||||||||||||||
Employer Contributions: | |||||||||||||||||||||||||||||||||||||
2012 | $ | 25,559 | $ | 1,971 | |||||||||||||||||||||||||||||||||
2013 | 13,907 | 1,895 | |||||||||||||||||||||||||||||||||||
2014 (estimated) | 15,607 | 1,892 | |||||||||||||||||||||||||||||||||||
Benefit Payments: | |||||||||||||||||||||||||||||||||||||
2011 | 18,269 | 1,870 | |||||||||||||||||||||||||||||||||||
2012 | 18,195 | 1,971 | |||||||||||||||||||||||||||||||||||
2013 | 18,855 | 1,895 | |||||||||||||||||||||||||||||||||||
Estimated Future Benefit Payments: | |||||||||||||||||||||||||||||||||||||
2014 | 19,450 | 1,892 | |||||||||||||||||||||||||||||||||||
2015 | 20,033 | 1,927 | |||||||||||||||||||||||||||||||||||
2016 | 20,671 | 2,001 | |||||||||||||||||||||||||||||||||||
2017 | 21,424 | 2,053 | |||||||||||||||||||||||||||||||||||
2018 | 22,337 | 2,112 | |||||||||||||||||||||||||||||||||||
2019-2023 | 129,177 | 10,823 | |||||||||||||||||||||||||||||||||||
Schedule of Changes in Fair Value of Plan Assets [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||
In thousands | December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Investments | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||
U.S. large cap equity | $ | 39,124 | $ | 79 | $ | — | $ | 39,203 | |||||||||||||||||||||||||||||
U.S. small/mid cap equity | 30,465 | 55 | — | 30,520 | |||||||||||||||||||||||||||||||||
Non-U.S. equity | 16,782 | 17,202 | — | 33,984 | |||||||||||||||||||||||||||||||||
Emerging markets equity | 7,405 | — | — | 7,405 | |||||||||||||||||||||||||||||||||
Fixed income | — | 367 | — | 367 | |||||||||||||||||||||||||||||||||
Long government/credit | 33,152 | 32,763 | — | 65,915 | |||||||||||||||||||||||||||||||||
High yield bonds | — | 12,890 | — | 12,890 | |||||||||||||||||||||||||||||||||
Emerging market debt | 9,987 | — | — | 9,987 | |||||||||||||||||||||||||||||||||
Real estate funds | 16,559 | — | — | 16,559 | |||||||||||||||||||||||||||||||||
Absolute return strategy | — | 35,339 | — | 35,339 | |||||||||||||||||||||||||||||||||
Real return strategy | 13,031 | — | — | 13,031 | |||||||||||||||||||||||||||||||||
Cash and cash equivalents | — | 1,418 | — | 1,418 | |||||||||||||||||||||||||||||||||
Total investments | $ | 166,505 | $ | 100,113 | $ | — | $ | 266,618 | |||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||
Investments | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||
U.S. large cap equity | $ | 29,047 | $ | 1,891 | $ | — | $ | 30,938 | |||||||||||||||||||||||||||||
U.S. small/mid cap equity | 21,624 | 1,312 | — | 22,936 | |||||||||||||||||||||||||||||||||
Non-U.S. equity | 13,931 | 15,812 | — | 29,743 | |||||||||||||||||||||||||||||||||
Emerging markets equity | 8,004 | — | — | 8,004 | |||||||||||||||||||||||||||||||||
Fixed income | — | 8,824 | — | 8,824 | |||||||||||||||||||||||||||||||||
Long government/credit | 30,098 | 29,249 | — | 59,347 | |||||||||||||||||||||||||||||||||
High yield bonds | — | 12,017 | — | 12,017 | |||||||||||||||||||||||||||||||||
Emerging market debt | 11,421 | — | — | 11,421 | |||||||||||||||||||||||||||||||||
Real estate funds | 15,992 | — | — | 15,992 | |||||||||||||||||||||||||||||||||
Absolute return strategy | — | 32,078 | — | 32,078 | |||||||||||||||||||||||||||||||||
Real return strategy | 12,932 | — | — | 12,932 | |||||||||||||||||||||||||||||||||
Cash and cash equivalents | — | 1,459 | — | 1,459 | |||||||||||||||||||||||||||||||||
Total investments | $ | 143,049 | $ | 102,642 | $ | — | $ | 245,691 | |||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||
Receivables | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
Accrued interest and dividend income | $ | 468 | $ | 388 | |||||||||||||||||||||||||||||||||
Due from broker for securities sold | 1,154 | 4,459 | |||||||||||||||||||||||||||||||||||
Total receivables | $ | 1,622 | $ | 4,847 | |||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||
Due to broker for securities purchased | $ | 1,178 | $ | 935 | |||||||||||||||||||||||||||||||||
Total investment in retirement trust | $ | 267,062 | $ | 249,603 | |||||||||||||||||||||||||||||||||
Income_Tax_tables
Income Tax (tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||||
Dollars in thousands | 2013 | 2012 | 2011 | ||||||||||
Income taxes at federal statutory rate | $ | 35,785 | $ | 35,764 | $ | 37,056 | |||||||
Increase (decrease): | |||||||||||||
Current state income tax, net of federal tax benefit | 4,674 | 4,773 | 4,945 | ||||||||||
Amortization of investment and energy tax credits | (271 | ) | (350 | ) | (442 | ) | |||||||
Differences required to be flowed-through by regulatory commissions | 2,357 | 1,718 | 1,647 | ||||||||||
Gains on company and trust-owned life insurance | (864 | ) | (800 | ) | (786 | ) | |||||||
Regulatory asset impairment | — | 2,700 | — | ||||||||||
Other, net | 24 | (402 | ) | 405 | |||||||||
Total provision for income taxes | $ | 41,705 | $ | 43,403 | $ | 42,825 | |||||||
Effective tax rate | 40.8 | % | 42.5 | % | 40.5 | % | |||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||||
In thousands | 2013 | 2012 | 2011 | ||||||||||
Current | |||||||||||||
Federal | $ | (62 | ) | $ | 1,693 | $ | 130 | ||||||
State | (11 | ) | 99 | (929 | ) | ||||||||
(73 | ) | 1,792 | (799 | ) | |||||||||
Deferred | |||||||||||||
Federal | 35,109 | 31,187 | 35,021 | ||||||||||
State | 6,669 | 10,424 | 8,603 | ||||||||||
41,778 | 41,611 | 43,624 | |||||||||||
Total provision for income taxes | $ | 41,705 | $ | 43,403 | $ | 42,825 | |||||||
Total income taxes paid | $ | 870 | $ | 2,979 | $ | 1,756 | |||||||
Schedule Of Regulated Utility And Non Utility Business Segments [Table Text Block] | ' | ||||||||||||
In thousands | 2013 | 2012 | 2011 | ||||||||||
Utility: | |||||||||||||
Current | $ | (73 | ) | $ | 1,909 | $ | (4,646 | ) | |||||
Deferred | 38,073 | 39,163 | 49,595 | ||||||||||
Deferred investment and energy tax credits | (271 | ) | (350 | ) | (422 | ) | |||||||
37,729 | 40,722 | 44,527 | |||||||||||
Non-utility business segments: | |||||||||||||
Current | — | (117 | ) | 3,846 | |||||||||
Deferred | 3,976 | 2,798 | (5,548 | ) | |||||||||
3,976 | 2,681 | (1,702 | ) | ||||||||||
Total provision for income taxes | $ | 41,705 | $ | 43,403 | $ | 42,825 | |||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||||
In thousands | 2013 | 2012 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Plant and property | $ | 362,160 | $ | 322,527 | |||||||||
Regulatory income tax assets | 56,183 | 60,253 | |||||||||||
Regulatory liabilities | 71,971 | 49,197 | |||||||||||
Non-regulated deferred tax liabilities | 47,516 | 43,824 | |||||||||||
Total | $ | 537,830 | $ | 475,801 | |||||||||
Deferred tax assets: | |||||||||||||
Regulatory assets | $ | — | $ | (7,724 | ) | ||||||||
Unfunded pension and postretirement obligations | 4,112 | 6,024 | |||||||||||
Non-regulated deferred tax assets | — | (1,235 | ) | ||||||||||
Alternative minimum tax credit carryforward | 1,939 | 1,986 | |||||||||||
Loss and credit carryforwards | 45,351 | 32,997 | |||||||||||
Total | 51,402 | 32,048 | |||||||||||
Deferred income tax liabilities, net | 486,428 | 443,753 | |||||||||||
Deferred investment tax credits | 367 | 624 | |||||||||||
Deferred income taxes and investment tax credits | $ | 486,795 | $ | 444,377 | |||||||||
Property_Plant_and_Equipment_t
Property, Plant and Equipment (tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Public Utilities, Property, Plant and Equipment [Abstract] | ' | ||||||||
Major Classifications Of Property, Plant And Equipment And Accumulated Depreciation [Text Block] | ' | ||||||||
In thousands | 2013 | 2012 | |||||||
Utility plant in service | $ | 2,585,901 | $ | 2,435,886 | |||||
Utility construction work in progress | 28,855 | 46,831 | |||||||
Less: Accumulated depreciation | 827,380 | 789,201 | |||||||
Utility plant, net | 1,787,376 | 1,693,516 | |||||||
Non-utility plant in service | 297,330 | 296,781 | |||||||
Non-utility construction work in progress | 6,653 | 6,510 | |||||||
Less: Accumulated depreciation | 28,485 | 23,195 | |||||||
Non-utility plant, net | 275,498 | 280,096 | |||||||
Total property, plant, and equipment | $ | 2,062,874 | $ | 1,973,612 | |||||
Gas_Reserves_tables
Gas Reserves (tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Gas Reserves [Abstract] | ' | ||||||||
Gas Reserves Table [Text Block] | ' | ||||||||
In thousands | 2013 | 2012 | |||||||
Gas reserves, current | $ | 20,646 | $ | 14,966 | |||||
Gas reserves, non-current | 140,573 | 92,179 | |||||||
Less: Accumulated amortization | 18,575 | 7,486 | |||||||
Total gas reserves | 142,644 | 99,659 | |||||||
Less: Deferred taxes on gas reserves | 42,117 | 28,329 | |||||||
Net investment in gas reserves | $ | 100,527 | $ | 71,330 | |||||
Investments_Tables
Investments (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Investments [Abstract] | ' | ||||||||
Schedule Of Long Term Investments [Table Text Block] | ' | ||||||||
In thousands | 2013 | 2012 | |||||||
Investments in life insurance policies | $ | 51,791 | $ | 51,439 | |||||
Investments in gas pipeline joint ventures | 14,048 | 14,216 | |||||||
Other | 2,012 | 2,012 | |||||||
Total other investments | $ | 67,851 | $ | 67,667 | |||||
Derivative_Instruments_tables
Derivative Instruments (tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Summary of Derivative Instruments [Abstract] | ' | ||||||||||||||||
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | ' | ||||||||||||||||
At December 31, | |||||||||||||||||
In thousands | 2013 | 2012 | |||||||||||||||
Natural gas (in therms): | |||||||||||||||||
Financial | 389,225 | 395,820 | |||||||||||||||
Physical | 552,500 | 398,250 | |||||||||||||||
Foreign exchange | $ | 15,002 | $ | 13,231 | |||||||||||||
Income Statement Presentation of Derivative Instruments [Text Block] | ' | ||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||
In thousands | Natural gas commodity | Foreign exchange | Natural gas commodity | Foreign exchange | |||||||||||||
Benefit (expense) to cost of gas | $ | 4,985 | $ | (300 | ) | $ | (5,850 | ) | $ | 65 | |||||||
Less: | |||||||||||||||||
Amounts deferred to regulatory accounts on balance sheet | (4,964 | ) | 300 | 5,850 | (65 | ) | |||||||||||
Total gain in pre-tax earnings | $ | 21 | $ | — | $ | — | $ | — | |||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||
Schedule Of Future Minimum Lease Payments For Operating And Capital Leases [Table Text Block] | ' | ||||||||||||
In thousands | Operating leases | Capital leases | Minimum lease payments | ||||||||||
2014 | $ | 5,611 | $ | 462 | $ | 6,073 | |||||||
2015 | 5,530 | 196 | 5,726 | ||||||||||
2016 | 5,510 | 82 | 5,592 | ||||||||||
2017 | 5,506 | 12 | 5,518 | ||||||||||
2018 | 2,858 | — | 2,858 | ||||||||||
Thereafter | 34,836 | — | 34,836 | ||||||||||
Total | $ | 59,851 | $ | 752 | $ | 60,603 | |||||||
Long-term Purchase Commitment [Table Text Block] | ' | ||||||||||||
In thousands | Gas | Pipeline | Pipeline | ||||||||||
Purchase Agreements | Capacity | Capacity | |||||||||||
Purchase Agreements | Release Agreements | ||||||||||||
2014 | $ | 60,692 | $ | 94,923 | $ | 3,739 | |||||||
2015 | — | 77,433 | — | ||||||||||
2016 | — | 66,146 | — | ||||||||||
2017 | — | 52,084 | — | ||||||||||
2018 | — | 42,263 | — | ||||||||||
Thereafter | — | 216,995 | — | ||||||||||
Total | 60,692 | 549,844 | 3,739 | ||||||||||
Less: Amount representing interest | 20 | 113,437 | — | ||||||||||
Total at present value | $ | 60,672 | $ | 436,407 | $ | 3,739 | |||||||
Environmental_Matters_Tables
Environmental Matters (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Environmental Remediation Obligations [Abstract] | ' | ||||||||||||||||
Schedule of Environmental Loss Contingencies by Site [Table Text Block] | ' | ||||||||||||||||
Current Liabilities | Non-Current Liabilities | ||||||||||||||||
In thousands | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Portland Harbor site: | |||||||||||||||||
Gasco/Siltronic Sediments | $ | 1,278 | $ | 2,207 | $ | 37,954 | $ | 36,087 | |||||||||
Other Portland Harbor | 1,766 | 1,767 | 3,478 | 3,160 | |||||||||||||
Gasco Upland site | 11,010 | 18,722 | 39,508 | 5,028 | |||||||||||||
Siltronic Upland site | 763 | 637 | 406 | 379 | |||||||||||||
Central Service Center site | 85 | 140 | 248 | 396 | |||||||||||||
Front Street site | 1,274 | 993 | 122 | — | |||||||||||||
Oregon Steel Mills | — | — | 179 | 185 | |||||||||||||
Total | $ | 16,176 | $ | 24,466 | $ | 81,895 | $ | 45,235 | |||||||||
Environmental Regulatory Table [Table Text Block] | ' | ||||||||||||||||
In thousands | 2013 | 2012 | |||||||||||||||
Cash paid(1) | $ | 98,817 | $ | 71,124 | |||||||||||||
Total regulatory asset deferral(2) | 148,389 | 121,144 | |||||||||||||||
Revision_Tables
Revision (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Accounting Changes and Error Corrections [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of Error Corrections and Prior Period Adjustments | ' | ||||||||||||||||||||||||||||||||
The following table presents the income statement impacts of this revision for the years ended December 31: | |||||||||||||||||||||||||||||||||
2012 | 2011 | ||||||||||||||||||||||||||||||||
In thousands, except per share data | Reported Balance | Adjust- ment | Adjusted Balance | Reported Balance | Adjust- ment | Adjusted Balance | |||||||||||||||||||||||||||
Other income and expense, net | $ | 4,936 | $ | (1,777 | ) | $ | 3,159 | $ | 4,523 | $ | (1,411 | ) | $ | 3,112 | |||||||||||||||||||
Income before income taxes | 103,959 | (1,777 | ) | 102,182 | 107,280 | (1,411 | ) | 105,869 | |||||||||||||||||||||||||
Income tax expense | 44,104 | (701 | ) | 43,403 | 43,382 | (557 | ) | 42,825 | |||||||||||||||||||||||||
Net Income | 59,855 | (1,076 | ) | 58,779 | 63,898 | (854 | ) | 63,044 | |||||||||||||||||||||||||
Comprehensive income | 58,364 | (1,076 | ) | 57,288 | 62,702 | (854 | ) | 61,848 | |||||||||||||||||||||||||
Basic EPS | 2.23 | (0.04 | ) | 2.19 | 2.39 | (0.03 | ) | 2.36 | |||||||||||||||||||||||||
Diluted EPS | 2.22 | (0.04 | ) | 2.18 | 2.39 | (0.03 | ) | 2.36 | |||||||||||||||||||||||||
The following table presents the balance sheet impacts of this revision as of December 31: | |||||||||||||||||||||||||||||||||
2012 | 2011 | ||||||||||||||||||||||||||||||||
In thousands | Reported Balance | Adjustment | Adjusted Balance | Reported Balance | Adjustment | Adjusted Balance | |||||||||||||||||||||||||||
Non-current assets: | |||||||||||||||||||||||||||||||||
Regulatory assets | $ | 387,888 | $ | (5,633 | ) | $ | 382,255 | $ | 371,392 | $ | (3,856 | ) | $ | 367,536 | |||||||||||||||||||
Total non-current assets | 2,535,054 | (5,633 | ) | 2,529,421 | 2,397,885 | (3,856 | ) | 2,394,029 | |||||||||||||||||||||||||
Total assets | 2,818,753 | (5,633 | ) | 2,813,120 | 2,746,574 | (3,856 | ) | 2,742,718 | |||||||||||||||||||||||||
Liabilities and equity: | |||||||||||||||||||||||||||||||||
Deferred credits and other non-current liabilities: | |||||||||||||||||||||||||||||||||
Deferred tax liabilities | $ | 446,604 | $ | (2,227 | ) | $ | 444,377 | $ | 413,209 | $ | (1,526 | ) | $ | 411,683 | |||||||||||||||||||
Total deferred credits and other non-current liabilities | 1,025,584 | (2,227 | ) | 1,023,357 | 975,922 | (1,526 | ) | 974,396 | |||||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||||||
Retained earnings | 385,753 | (3,406 | ) | 382,347 | 373,905 | (2,330 | ) | 371,575 | |||||||||||||||||||||||||
Total equity | 733,033 | (3,406 | ) | 729,627 | 714,488 | (2,330 | ) | 712,158 | |||||||||||||||||||||||||
Total liabilities and equity | 2,818,753 | (5,633 | ) | 2,813,120 | 2,746,574 | (3,856 | ) | 2,742,718 | |||||||||||||||||||||||||
The following tables present the income statement and balance sheet corrections for the following quarters: | |||||||||||||||||||||||||||||||||
2012 | |||||||||||||||||||||||||||||||||
First Quarter | Second Quarter | Third Quarter | Fourth Quarter | ||||||||||||||||||||||||||||||
In thousands, except per share data | Reported Balance | Adjusted Balance | Reported Balance | Adjusted Balance | Reported Balance | Adjusted Balance | Reported Balance | Adjusted Balance | |||||||||||||||||||||||||
Other income and expense, net | $ | 1,005 | $ | 472 | $ | 921 | $ | 620 | $ | 1,710 | $ | 1,180 | $ | 1,300 | $ | 887 | |||||||||||||||||
Income (loss) before income taxes | 68,480 | 67,947 | 2,296 | 1,995 | (13,594 | ) | (14,124 | ) | 46,777 | 46,364 | |||||||||||||||||||||||
Income tax expense (benefit) | 27,873 | 27,663 | 887 | 768 | (3,036 | ) | (3,245 | ) | 18,380 | 18,217 | |||||||||||||||||||||||
Net income (loss) | 40,607 | 40,284 | 1,409 | 1,227 | (10,558 | ) | (10,879 | ) | 28,397 | 28,147 | |||||||||||||||||||||||
Comprehensive income (loss) | 40,773 | 40,450 | 1,575 | 1,393 | (10,391 | ) | (10,712 | ) | 26,407 | 26,157 | |||||||||||||||||||||||
Basic EPS | 1.52 | 1.5 | 0.05 | 0.05 | (0.39 | ) | (0.41 | ) | 1.06 | 1.05 | |||||||||||||||||||||||
Diluted EPS | 1.51 | 1.5 | 0.05 | 0.05 | (0.39 | ) | (0.41 | ) | 1.05 | 1.04 | |||||||||||||||||||||||
Non-current assets: | |||||||||||||||||||||||||||||||||
Regulatory assets | $ | 368,521 | $ | 364,132 | $ | 366,981 | $ | 362,290 | $ | 367,692 | $ | 362,472 | $ | 387,888 | $ | 382,255 | |||||||||||||||||
Total non-current assets | 2,416,372 | 2,411,983 | 2,448,359 | 2,443,668 | 2,492,467 | 2,487,247 | 2,535,054 | 2,529,421 | |||||||||||||||||||||||||
Total assets | 2,727,262 | 2,722,873 | 2,635,141 | 2,630,450 | 2,690,368 | 2,685,148 | 2,818,753 | 2,813,120 | |||||||||||||||||||||||||
Liabilities and equity: | |||||||||||||||||||||||||||||||||
Deferred credits and other non-current liabilities: | |||||||||||||||||||||||||||||||||
Deferred tax liabilities | $ | 438,486 | $ | 436,750 | $ | 440,073 | $ | 438,217 | $ | 430,885 | $ | 428,821 | $ | 446,604 | $ | 444,377 | |||||||||||||||||
Total deferred credits and other non-current liabilities | 999,028 | 997,292 | 991,007 | 989,151 | 985,729 | 983,665 | 1,025,584 | 1,023,357 | |||||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||||||
Retained earnings | 402,599 | 399,946 | 392,082 | 389,247 | 369,584 | 366,428 | 385,753 | 382,347 | |||||||||||||||||||||||||
Total equity | 745,971 | 743,318 | 737,570 | 734,735 | 717,559 | 714,403 | 733,033 | 729,627 | |||||||||||||||||||||||||
Total liabilities and equity | 2,727,262 | 2,722,873 | 2,635,141 | 2,630,450 | 2,690,368 | 2,685,148 | 2,818,753 | 2,813,120 | |||||||||||||||||||||||||
2011 | |||||||||||||||||||||||||||||||||
First Quarter | Second Quarter | Third Quarter | Fourth Quarter | ||||||||||||||||||||||||||||||
In thousands, except per share data | Reported Balance | Adjusted Balance | Reported Balance | Adjusted Balance | Reported Balance | Adjusted Balance | Reported Balance | Adjusted Balance | |||||||||||||||||||||||||
Other income and expense, net | $ | 1,214 | $ | 1,291 | $ | 1,122 | $ | 779 | $ | 1,781 | $ | 1,426 | $ | 406 | $ | (384 | ) | ||||||||||||||||
Income (loss) before income taxes | 68,627 | 68,704 | 3,509 | 3,166 | (14,012 | ) | (14,367 | ) | 49,156 | 48,366 | |||||||||||||||||||||||
Income tax expense (benefit) | 27,854 | 27,884 | 1,316 | 1,181 | (5,700 | ) | (5,840 | ) | 19,912 | 19,600 | |||||||||||||||||||||||
Net income (loss) | 40,773 | 40,820 | 2,193 | 1,985 | (8,312 | ) | (8,527 | ) | 29,244 | 28,766 | |||||||||||||||||||||||
Comprehensive income (loss) | 40,919 | 40,966 | 2,339 | 2,131 | (8,166 | ) | (8,381 | ) | 27,610 | 27,132 | |||||||||||||||||||||||
Basic EPS | 1.53 | 1.53 | 0.08 | 0.07 | (0.31 | ) | (0.32 | ) | 1.09 | 1.08 | |||||||||||||||||||||||
Diluted EPS | 1.53 | 1.53 | 0.08 | 0.07 | (0.31 | ) | (0.32 | ) | 1.09 | 1.07 | |||||||||||||||||||||||
Non-current assets: | |||||||||||||||||||||||||||||||||
Regulatory assets | $ | 345,452 | $ | 343,085 | $ | 326,081 | $ | 323,371 | $ | 328,757 | $ | 325,692 | $ | 371,392 | $ | 367,536 | |||||||||||||||||
Total non-current assets | 2,290,848 | 2,288,481 | 2,294,100 | 2,291,390 | 2,317,293 | 2,314,228 | 2,397,885 | 2,394,029 | |||||||||||||||||||||||||
Total assets | 2,571,553 | 2,569,186 | 2,521,994 | 2,519,284 | 2,567,840 | 2,564,775 | 2,746,574 | 2,742,718 | |||||||||||||||||||||||||
Liabilities and equity: | |||||||||||||||||||||||||||||||||
Deferred credits and other non-current liabilities: | |||||||||||||||||||||||||||||||||
Deferred tax liabilities | $ | 396,357 | $ | 395,419 | $ | 398,825 | $ | 397,751 | $ | 394,217 | $ | 393,003 | $ | 413,209 | $ | 411,683 | |||||||||||||||||
Total deferred credits and other non-current liabilities | 873,714 | 872,776 | 874,842 | 873,768 | 866,927 | 865,713 | 975,922 | 974,396 | |||||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||||||
Retained earnings | 385,899 | 384,470 | 376,489 | 374,853 | 356,574 | 354,723 | 373,905 | 371,575 | |||||||||||||||||||||||||
Total equity | 723,228 | 721,799 | 714,628 | 712,992 | 696,605 | 694,754 | 714,488 | 712,158 | |||||||||||||||||||||||||
Total liabilities and equity | 2,571,553 | 2,569,186 | 2,521,994 | 2,519,284 | 2,567,840 | 2,564,775 | 2,746,574 | 2,742,718 | |||||||||||||||||||||||||
Quarterly_Financial_Informatio1
Quarterly Financial Information (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Schedule Of Quarterly Financial Information [Abstract] | ' | ||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||||||
NORTHWEST NATURAL GAS COMPANY | |||||||||||||||||
QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | |||||||||||||||||
Quarter ended | |||||||||||||||||
In thousands, except share data | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
2013 | |||||||||||||||||
Operating revenues | $ | 277,861 | $ | 131,714 | $ | 88,195 | $ | 260,748 | |||||||||
Net income (loss) | 37,639 | 2,126 | (8,233 | ) | 29,006 | ||||||||||||
Basic earnings (loss) per share(1) | 1.4 | 0.08 | (0.31 | ) | 1.07 | ||||||||||||
Diluted earnings (loss) per share(1) | 1.4 | 0.08 | (0.31 | ) | 1.07 | ||||||||||||
2012 | |||||||||||||||||
Operating revenues | $ | 309,639 | $ | 103,991 | $ | 87,501 | $ | 229,476 | |||||||||
Net income (loss)(2) | 40,284 | 1,227 | (10,879 | ) | 28,147 | ||||||||||||
Basic earnings (loss) per share(1)(2) | 1.5 | 0.05 | (0.41 | ) | 1.05 | ||||||||||||
Diluted earnings (loss) per share(1)(2) | 1.5 | 0.05 | (0.41 | ) | 1.04 | ||||||||||||
(1) Quarterly earnings (loss) per share are based upon the average number of common shares outstanding during each quarter. Variations in earnings between quarterly periods are due primarily to the seasonal nature of our business. | |||||||||||||||||
(2) Prior period balances have been adjusted for a prior period error identified during the first quarter of 2013. See Note 16 for reconciliation to amounts previously reported. |
Valuation_Allowances_and_Reser1
Valuation Allowances and Reserves (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Valuation Allowances and Reserves [Abstract] | ' | ||||||||||||||||||||
Summary of Valuation Allowance [Table Text Block] | ' | ||||||||||||||||||||
NORTHWEST NATURAL GAS COMPANY | |||||||||||||||||||||
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES | |||||||||||||||||||||
COLUMN A | COLUMN B | COLUMN C | COLUMN D | COLUMN E | |||||||||||||||||
Additions | Deductions | ||||||||||||||||||||
In thousands (year ended December 31) | Balance at beginning of period | Charged to costs and expenses | Charged to other accounts | Net write-offs | Balance at end of period | ||||||||||||||||
2013 | |||||||||||||||||||||
Reserves deducted in balance sheet from assets to which they apply: | |||||||||||||||||||||
Allowance for uncollectible accounts | $ | 2,518 | $ | 199 | $ | — | $ | 1,061 | $ | 1,656 | |||||||||||
2012 | |||||||||||||||||||||
Reserves deducted in balance sheet from assets to which they apply: | |||||||||||||||||||||
Allowance for uncollectible accounts | $ | 2,895 | $ | 1,130 | $ | — | $ | 1,507 | $ | 2,518 | |||||||||||
2011 | |||||||||||||||||||||
Reserves deducted in balance sheet from assets to which they apply: | |||||||||||||||||||||
Allowance for uncollectible accounts | $ | 2,950 | $ | 1,919 | $ | — | $ | 1,974 | $ | 2,895 | |||||||||||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies Regulatory Assets Disclosure (Details) (USD $) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | |||
Accounting Policies [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Public Utilities, Property, Plant and Equipment, Disclosure of Composite Depreciation Rate for Plants in Service | 2.80% | 2.80% | 2.80% | ' | ' | ' | ' | ' | ' | ||
Weighted Average Depreciation Rates Transmission Distribution | 2.70% | ' | ' | ' | ' | ' | ' | ' | ' | ||
Weighted Average Depreciation Rates Utility Storage | 2.20% | ' | ' | ' | ' | ' | ' | ' | ' | ||
Weighted Average Depreciation Rates General Plant | 4.30% | ' | ' | ' | ' | ' | ' | ' | ' | ||
Weighted Average Depreciation Rates Intangible Other | 4.10% | ' | ' | ' | ' | ' | ' | ' | ' | ||
Public Utilities, Allowance for Funds Used During Construction, Rate | 0.30% | 0.30% | 0.50% | ' | ' | ' | ' | ' | ' | ||
Outstanding Checks In Accounts Payable | $2,800,000 | $2,300,000 | ' | ' | ' | ' | ' | ' | ' | ||
Unbilled Receivables, Current | 61,527,000 | 56,955,000 | ' | ' | ' | ' | ' | ' | ' | ||
Senate Bill Four Zero Eight Charge | ' | ' | 7,400,000 | ' | ' | ' | ' | ' | ' | ||
Inventory - Gas | 51,400,000 | 58,800,000 | ' | ' | ' | ' | ' | ' | ' | ||
Inventory - Materials and supplies | 9,300,000 | 8,800,000 | ' | ' | ' | ' | ' | ' | ' | ||
Changes In Fair Value As Deferred Regulatory Assets Or Liabilities In Percentage | '80% or 90% | ' | ' | ' | ' | ' | ' | ' | ' | ||
Changes In Fair Value Deferred As Income Statement For Contracts Not Qualifying For Hedge Accounting And To Other Comprehensive Income For Contracts Qualifying For Hedge Accounting | '20% or 10% | ' | ' | ' | ' | ' | ' | ' | ' | ||
Oregon PGA Deferral Percentage | 90.00% | 90.00% | 90.00% | ' | ' | ' | ' | ' | ' | ||
Washington PGA Deferral Percentage | 100.00% | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | ||
Deferred Tax Liabilities, Deferred Expense | 56,200,000 | 60,300,000 | ' | ' | ' | ' | ' | ' | ' | ||
Regulatory Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Regulatory Assets, Noncurrent | 369,603,000 | 382,255,000 | 367,536,000 | 362,472,000 | 362,290,000 | 364,132,000 | 325,692,000 | 323,371,000 | 343,085,000 | ||
Regulatory Assets, Current | 22,635,000 | 52,448,000 | ' | ' | ' | ' | ' | ' | ' | ||
Unrealized Loss On Derivatives [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Regulatory Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Regulatory Assets, Noncurrent | 615,000 | [1] | 578,000 | [1] | ' | ' | ' | ' | ' | ' | ' |
Regulatory Assets, Current | 1,891,000 | [1] | 10,796,000 | [1] | ' | ' | ' | ' | ' | ' | ' |
Pension and Other Postretirement Plans Costs [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Regulatory Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Regulatory Assets, Noncurrent | 125,855,000 | [2] | 182,688,000 | [2] | ' | ' | ' | ' | ' | ' | ' |
Pension Balancing [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Regulatory Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Regulatory Assets, Noncurrent | 25,713,000 | [2] | 14,727,000 | [2] | ' | ' | ' | ' | ' | ' | ' |
Other Regulatory [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Regulatory Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Regulatory Assets, Noncurrent | 17,217,000 | [3] | 7,239,000 | [3] | ' | ' | ' | ' | ' | ' | ' |
Regulatory Assets, Current | 20,744,000 | [3] | 41,652,000 | [3] | ' | ' | ' | ' | ' | ' | ' |
Income Tax Asset [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Regulatory Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Regulatory Assets, Noncurrent | 51,814,000 | 55,879,000 | ' | ' | ' | ' | ' | ' | ' | ||
Environmental Restoration Costs [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Regulatory Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Regulatory Assets, Noncurrent | $148,389,000 | [4] | ' | ' | ' | ' | ' | ' | ' | ' | |
[1] | Unrealized gains or losses on derivatives are non-cash items and, therefore, do not earn a rate of return or a carrying charge. These amounts are recoverable through utility rates as part of the annual PGA mechanism when realized at settlement. | ||||||||||
[2] | Certain utility pension costs are approved for regulatory deferral, including amounts recorded to the pension balancing account, to mitigate the effects of higher and lower pension expenses. Pension costs that are deferred include an interest component when recognized in net periodic benefit costs. See Note 8. | ||||||||||
[3] | Other primarily consists of several deferrals and amortizations under other approved regulatory mechanisms. The accounts being amortized typically earn a rate of return or carrying charge. | ||||||||||
[4] | Environmental costs relate to specific sites approved for regulatory deferral by the OPUC and WUTC. In Oregon, we earn a carrying charge on amounts paid, whereas amounts accrued but not yet paid do not earn a carrying charge until expended. In Washington, a carrying charge related to deferred amounts will be determined in a future proceeding. For further information on environmental matters, see Note 15. |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies Regulatory Liabilities Disclosure (details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Regulatory Liabilities [Line Items] | ' | ' | ||
Current Regulatory Liabilities | $28,335 | $20,792 | ||
Regulatory liabilities | 303,485 | 288,113 | ||
Gas Costs Payable [Member] | ' | ' | ||
Regulatory Liabilities [Line Items] | ' | ' | ||
Current Regulatory Liabilities | 7,510 | 9,100 | ||
Regulatory liabilities | 2,172 | 0 | ||
Unrealized Gain On Derivatives [Member] | ' | ' | ||
Regulatory Liabilities [Line Items] | ' | ' | ||
Current Regulatory Liabilities | 5,290 | [1] | 1,950 | [1] |
Regulatory liabilities | 1,880 | [1] | 3,639 | [1] |
Other Regulatory [Member] | ' | ' | ||
Regulatory Liabilities [Line Items] | ' | ' | ||
Current Regulatory Liabilities | 15,535 | [2] | 9,742 | [2] |
Regulatory liabilities | 3,139 | [2] | 3,261 | [2] |
Accrued Asset Removal Costs [Member] | ' | ' | ||
Regulatory Liabilities [Line Items] | ' | ' | ||
Regulatory liabilities | $296,294 | $281,213 | ||
[1] | Unrealized gains or losses on derivatives are non-cash items and, therefore, do not earn a rate of return or a carrying charge. These amounts are recoverable through utility rates as part of the annual PGA mechanism when realized at settlement. | |||
[2] | Other primarily consists of several deferrals and amortizations under other approved regulatory mechanisms. The accounts being amortized typically earn a rate of return or carrying charge. |
Earnings_Per_Share_details
Earnings Per Share (details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||||||
Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net income | $29,006 | ($8,233) | $2,126 | $37,639 | $28,147 | [1] | ($10,879) | [1] | $1,227 | [1] | $40,284 | [1] | $28,766 | ($8,527) | $1,985 | $40,820 | $60,538 | $58,779 | $63,044 | ||||
Average common shares outstanding - basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,974 | 26,831 | 26,687 | ||||||||
Additional shares for stock based compensation plans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 53 | 76 | 57 | ||||||||
Average common shares outstanding - diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27,027 | 26,907 | 26,744 | ||||||||
Earnings per share of common stock - basic | $1.07 | [2] | ($0.31) | [2] | $0.08 | [2] | $1.40 | [2] | $1.05 | [1],[2] | ($0.41) | [1],[2] | $0.05 | [1],[2] | $1.50 | [1],[2] | $1.08 | ($0.32) | $0.07 | $1.53 | $2.24 | $2.19 | $2.36 |
Earnings per share of common stock - diluted | $1.07 | [2] | ($0.31) | [2] | $0.08 | [2] | $1.40 | [2] | $1.04 | [1],[2] | ($0.41) | [1],[2] | $0.05 | [1],[2] | $1.50 | [1],[2] | $1.07 | ($0.32) | $0.07 | $1.53 | $2.24 | $2.18 | $2.36 |
Antidilutive shares excluded from computation of earnings per share amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26 | 1 | 2 | ||||||||
[1] | Prior period balances have been adjusted for a prior period error identified during the first quarter of 2013. See Note 16 for reconciliation to amounts previously reported. | ||||||||||||||||||||||
[2] | Quarterly earnings (loss) per share are based upon the average number of common shares outstanding during each quarter. Variations in earnings between quarterly periods are due primarily to the seasonal nature of our business. |
Segment_Information_details
Segment Information (details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||
Segment Reporting [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | $260,748,000 | $88,195,000 | $131,714,000 | $277,861,000 | $229,476,000 | $87,501,000 | $103,991,000 | $309,639,000 | ' | ' | ' | ' | $758,518,000 | $730,607,000 | $828,055,000 | ||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,905,000 | 73,017,000 | 70,004,000 | ||||
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 142,746,000 | 142,180,000 | 144,845,000 | ||||
Net income | 29,006,000 | -8,233,000 | 2,126,000 | 37,639,000 | 28,147,000 | [1] | -10,879,000 | [1] | 1,227,000 | [1] | 40,284,000 | [1] | 28,766,000 | -8,527,000 | 1,985,000 | 40,820,000 | 60,538,000 | 58,779,000 | 63,044,000 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -138,924,000 | -132,029,000 | -100,534,000 | ||||
Total assets | 2,970,911,000 | ' | ' | ' | 2,813,120,000 | 2,685,148,000 | 2,630,450,000 | 2,722,873,000 | 2,742,718,000 | 2,564,775,000 | 2,519,284,000 | 2,569,186,000 | 2,970,911,000 | 2,813,120,000 | 2,742,718,000 | ||||
Subsidiary Discussion [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Percent Of Local Gas Distribution Customers In Oregon | 90.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90.00% | ' | ' | ||||
Percent Of Local Gas Distribution Customers In Washington | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ||||
Percent Of Total Local Gas Distribution Volume Attributed To Residential And Commercial Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'around 60% | ' | ' | ||||
Percent Of Total Local Gas Distribution Margin Attributed To Residential And Commercial Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '90% | ' | ' | ||||
Segment Reporting, Disclosure of Major Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'over 10% | ' | ' | ||||
Percent Of Pre Tax Income From Gas Storage Retained When The Costs Of The Capacity Are Not In Utility Rates | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' | ||||
Percent Of Pre Tax Income From Gas Storage Retained When The Costs Of The Capacity Are In Utility Rates | 33.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33.00% | ' | ' | ||||
Percent Of Pre Tax Income From Gas Storage Credited To Deferred Regulatory Account | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ||||
Percent Of Pre Tax Income From Gas Storage Credited To Deferred Regulatory Account When In Rates | 67.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67.00% | ' | ' | ||||
Percent Ownership In Joint Project | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | ' | ||||
Precent Interest In Subsidiary | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ||||
Total Assets At NNG Financial | 1,200,000 | ' | ' | ' | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | 1,100,000 | ' | ||||
Utility Margin [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | 260,748,000 | 88,195,000 | 131,714,000 | 277,861,000 | 229,476,000 | 87,501,000 | 103,991,000 | 309,639,000 | ' | ' | ' | ' | 758,518,000 | 730,607,000 | 828,055,000 | ||||
Cost of gas | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 373,298,000 | 355,335,000 | 458,508,000 | ||||
Utility margin | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 353,884,000 | 344,527,000 | 342,970,000 | ||||
Utility Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 727,182,000 | 699,862,000 | 801,478,000 | ||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 69,420,000 | 66,545,000 | 63,843,000 | ||||
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 128,066,000 | 128,854,000 | 135,722,000 | ||||
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 54,920,000 | 54,049,000 | 59,673,000 | ||||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -137,466,000 | -130,151,000 | -94,049,000 | ||||
Total assets | 2,644,367,000 | ' | ' | ' | 2,505,655,000 | ' | ' | ' | ' | ' | ' | ' | 2,644,367,000 | 2,505,655,000 | ' | ||||
Utility Margin [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 727,182,000 | 699,862,000 | 801,478,000 | ||||
Gas Storage Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31,112,000 | 30,520,000 | 26,354,000 | ||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,485,000 | 6,472,000 | 6,161,000 | ||||
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,669,000 | 13,226,000 | 9,090,000 | ||||
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,569,000 | 4,521,000 | 4,101,000 | ||||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,458,000 | -1,541,000 | -6,485,000 | ||||
Total assets | 310,097,000 | ' | ' | ' | 291,568,000 | ' | ' | ' | ' | ' | ' | ' | 310,097,000 | 291,568,000 | ' | ||||
Utility Margin [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31,112,000 | 30,520,000 | 26,354,000 | ||||
Other Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 224,000 | 225,000 | 223,000 | ||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ||||
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,000 | 100,000 | 33,000 | ||||
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49,000 | 209,000 | -730,000 | ||||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -337,000 | 0 | ||||
Total assets | 16,447,000 | ' | ' | ' | 15,897,000 | ' | ' | ' | ' | ' | ' | ' | 16,447,000 | 15,897,000 | ' | ||||
Utility Margin [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $224,000 | $225,000 | $223,000 | ||||
[1] | Prior period balances have been adjusted for a prior period error identified during the first quarter of 2013. See Note 16 for reconciliation to amounts previously reported. |
Common_Stock_details
Common Stock (details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ' | ' | ' | ' |
Common Stock Shares Authorized | 100,000,000 | 100,000,000 | ' | ' |
Reserved Shares Employee Stock Purchase Plan | 122,184 | ' | ' | ' |
Reserved Shares Dividend Reinvestment | 96,991 | ' | ' | ' |
Reserved Shares Stock Options | 492,150 | 529,925 | 579,225 | 490,460 |
Date Through Which Entity May Repurchase Stock Under Board Authorization | 'May 2014 | ' | ' | ' |
Aggregate Authorized Shares To Repurchase | 2,800,000 | ' | ' | ' |
Aggregate Authorized Value Of Shares To Repurchase | $100,000,000 | ' | ' | ' |
Treasury Stock, Shares | 2,100,000 | ' | ' | ' |
Treasury Stock Program | $83,300,000 | ' | ' | ' |
Common Stock Shares Issued Table [Abstract] | ' | ' | ' | ' |
Common Stock, Shares, Outstanding | 27,075,000 | 26,917,000 | 26,756,000 | 26,668,000 |
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 16,000 | 18,000 | 15,000 | ' |
Stock Issued During Period, Shares, New Issues | 42,000 | 47,000 | 24,000 | ' |
Stock Issued During Period, Shares, Dividend Reinvestment Plan | 100,000 | 96,000 | 49,000 | ' |
StockBased_Compensation_detail
Stock-Based Compensation (details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
ESPP Paragraph [Abstract] | ' | ' | ' | ' |
Percent Of Offering Date Price Employees Are Allowed To Purchase Stock | 85.00% | ' | ' | ' |
Maximum Value Of Stock Employees Are Allowed To Purchase | $21,236 | ' | ' | ' |
LTIP Paragraph 1 [Abstract] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 850,000 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 241,169 | ' | ' | ' |
Additional Ltip Shares Authorized | 250,000 | ' | ' | ' |
LTIP Paragraph 2 [Abstract] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $43.39 | $51.42 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $30.86 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $38.96 | ' | ' | ' |
Unrecognized compensation cost | 1,600,000 | ' | ' | ' |
LTIP Table 1 [Abstract] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 9,516 | 9,924 | 8,428 | ' |
Allocated Share-based Compensation Expense | 400,000 | 500,000 | 400,000 | ' |
Cumulative LTIP Expense Evaluation Period Vesting In Current Year | 960,000 | ' | ' | ' |
Cumulative LTIP Expense Evaluation Period Vested In Prior Year | 1,200,000 | ' | ' | ' |
Cumulative LTIP Expense Evaluation Period Vested Two Years Ago | 800,000 | ' | ' | ' |
LTIP Table 2 [Abstract] | ' | ' | ' | ' |
Target LTIP Award For Period Vesting In Current Year | 37,950,000 | ' | ' | ' |
Target LTIP Award For Period Vesting Next Year | 35,340,000 | ' | ' | ' |
Target LTIP Award For Period Vesting In Two Years | 37,300,000 | ' | ' | ' |
Target LTIP Award For All Periods | 110,590,000 | ' | ' | ' |
Maximum LTIP Award For Period Vesting In Current Year | 75,900,000 | ' | ' | ' |
Maximum LTIP Award For Period Vesting Next Year | 70,680,000 | ' | ' | ' |
Maximum LTIP Award For Period Vesting In Two Years | 74,600,000 | ' | ' | ' |
Maximum LTIP Award For All Periods | 221,180,000 | ' | ' | ' |
Current Year Expense LTIP Award For Period Vesting In Current Year | 390,000 | ' | ' | ' |
Current Year Expense LTIP Award For Period Vesting Next Year | 603,000 | ' | ' | ' |
Current Year Expense LTIP Award For Period Vesting In Two Years | 486,000 | ' | ' | ' |
Current Year Expense LTIP Award For All Periods | 1,479,000 | ' | ' | ' |
Cumulative LTIP Expense Evaluation Period Vesting In Current Year | 960,000 | ' | ' | ' |
Cumulative Expense LTIP Award For Period Vesting Next Year | 1,238,000 | ' | ' | ' |
Cumulative Expense LTIP Award For Period Vesting In Two Years | 486,000 | ' | ' | ' |
RSU Paragraph 1 [Abstract] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Restricted Stock Unit Awards, Compensation Cost Not yet Recognized | 1,500,000 | ' | ' | ' |
Unrecognized compensation cost, restricted stock units, period for recognition | 'through 2017 | ' | ' | ' |
RSU Table 1 [Abstract] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 44,567 | 24,864 | 0 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 25,748 | 25,224 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | -5,455 | 0 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | -590 | -360 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Restricted Stock Units, Nonvested, Weighted Average Grant Date Fair Value | $46.27 | $47.57 | $0 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Restricted Stock Units, Grants in Period, Weighted Average Grant Date Fair Value | $45.38 | $47.58 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Restricted Stock Units, Vested in Period, Weighted Average Grant Date Fair Value | $48.01 | $0 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $46.58 | $48 | ' | ' |
SOP Paragraph 1 [Abstract] | ' | ' | ' | ' |
Reserved Shares Stock Options | 492,150 | 529,925 | 579,225 | 490,460 |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '10 years 7 days | ' | ' | ' |
Option Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Method Used | 'Black-Scholes | ' | ' | ' |
SOP Paragraph 2 [Abstract] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options | 1,100,000 | ' | ' | ' |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | -242,000 | -149,000 | -26,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value | 500,000 | 600,000 | 600,000 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term | '4 years 9 months 17 days | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | '5 years 1 month 5 days | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | 200,000 | ' | ' | ' |
Unrecognized compensation cost, period for recognition | 'during 2014 | ' | ' | ' |
SOP Table 1 [Abstract] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | ' | ' | 2.00% | ' |
Option Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term | ' | ' | 4.5 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | ' | ' | 24.50% | ' |
Option Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate | ' | ' | 3.80% | ' |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Forfeiture Rate | ' | ' | 3.10% | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | ' | $6.73 | ' |
SOP Table 2 [Abstract] | ' | ' | ' | ' |
Reserved Shares Stock Options | 492,150 | 529,925 | 579,225 | 490,460 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | ' | 122,700 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | -33,800 | -46,825 | -24,185 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period | -3,975 | -2,475 | -9,750 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 409,036 | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $42.89 | $42.22 | $42.09 | $40.82 |
Stock Price On Stock Option Plan Grant Date | ' | ' | $45.74 | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $32.16 | $40.62 | $33.88 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | $43.72 | $43.78 | $44.38 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value | 300,000 | 400,000 | 300,000 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $42.41 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 600,000 | 1,300,000 | 3,400,000 | 2,800,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 600,000 | ' | ' | ' |
Stock Based Compensation FS Impact Summary Table [Abstract] | ' | ' | ' | ' |
Stock Based Compensation Charged To Operations And Maintenance | 1,876,000 | 1,668,000 | 1,477,000 | ' |
Income Tax Benefit Of Stock Based Compensation | -765,000 | -707,000 | -597,000 | ' |
Net Income Impact Of Stock Based Compensation | 1,111,000 | 961,000 | 880,000 | ' |
Stock Based Compensation Capitalized | $331,000 | $294,000 | $261,000 | ' |
Debt_details
Debt (details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Short-term Debt [Abstract] | ' | ' |
Short-term debt | $188,200,000 | $190,250,000 |
Short-term Debt, Weighted Average Interest Rate | 0.30% | 0.30% |
Commercial Paper, Maximum Maturity | '136 | ' |
Commercial Paper, Average Maturity | '66 | ' |
Bank Loans | 0 | 0 |
Line of Credit Facility, Current Borrowing Capacity | ' | 300,000,000 |
Line of Credit Facility, Expiration Date | 20-Dec-18 | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | 450,000,000 |
Letters of Credit, Additional Allowed | ' | 200,000,000 |
Letters of Credit Outstanding, Amount | 0 | 0 |
Line of Credit Facility, Amount Outstanding | 0 | 0 |
Line of Credit Facility, Covenant Terms | 'The credit agreement requires that we maintain credit ratings with StandardB & Poorbs (S&P) and Moodybs Investors Service, Inc. (Moodybs) and notify the lenders of any change in our senior unsecured debt ratings or senior secured debt ratings, as applicable, by such rating agencies. A change in our debt ratings is not an event of default, nor is the maintenance of a specific minimum level of debt rating a condition of drawing upon the credit facility. However, interest rates on any loans outstanding under the credit facility are tied to debt ratings, which would increase or decrease the cost of any loans under the credit facility when ratings are changed. B The credit agreement also requires us to maintain a consolidated indebtedness to total capitalization ratio of 70% or less. Failure to comply with this covenant would entitle the lenders to terminate their lending commitments and accelerate the maturity of all amounts outstanding. We were in compliance with this covenant at December 31, 2013 and 2012. | ' |
Liabilities, Fair Value Disclosure [Abstract] | ' | ' |
Long-term Debt | 741,700,000 | 691,700,000 |
Debt Instrument, Fair Value Disclosure | 806,359,000 | 834,664,000 |
Debt Instrument [Line Items] | ' | ' |
Utility First Mortgage Bonds | 701,700,000 | 651,700,000 |
Long-term Debt, Current Maturities | 60,000,000 | 0 |
Long-term debt | 681,700,000 | 691,700,000 |
Maturities of Long-term Debt [Abstract] | ' | ' |
Long-term Debt, Current Maturities | 60,000,000 | 0 |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 40,000,000 | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 65,000,000 | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 40,000,000 | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 22,000,000 | ' |
Long-term Debt, Current and Noncurrent [Abstract] | ' | ' |
Long-term Debt, Description | 'NW Natural issued $50 million of FMBs on August 19, 2013 with a coupon rate of 3.542% and a 10-year maturity. In October 2012, the utility issued $50 million of FMBs with a coupon rate of 4.00% and a maturity date of OctoberB 31, 2042. | ' |
Debt Instrument, Description | 'In November 2011, Gill Ranch issued $40 million of senior secured debt, which consists of $20 million of fixed rate debt with an interest rate of 7.75% and $20 million of variable interest rate debt with an interest rate of LIBOR plus 5.50%, or 7.00%, whichever is higher. At December 31, 2013, the variable interest rate was 7.00%. This debt is secured by all of the membership interests in Gill Ranch and is nonrecourse to NW Natural. The maturity date of this debt is NovemberB 30, 2016. | ' |
Debt Instrument, Covenant Description | 'Under the debt agreements, Gill Ranch is subject to certain covenants and restrictions including, but not limited to, a financial covenant that requires Gill Ranch to maintain minimum adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) at various levels over the term of the debt. The minimum adjusted EBITDA increases incrementally over the first few years, reaching its highest level in the 12-month period beginning April 1, 2015. Under the debt agreements, Gill Ranch is also subject to a debt service reserve requirement of 10% of the outstanding principal amount, certain prepayment penalties, restrictions on dividends out of Gill Ranch unless certain earnings ratios are met, and restrictions on incurrence of additional debt. Gill Ranch was in compliance with all existing debt provisions and covenants for the year ended December 31, 2013. | ' |
Note 8260 Series Due 2014 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 10,000,000 | 10,000,000 |
Note 3950 Series Due 2014 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 50,000,000 | 50,000,000 |
Note 4700 Series Due 2015 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 40,000,000 | 40,000,000 |
Note 5150 Series Due 2016 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 25,000,000 | 25,000,000 |
Note 7000 Series Due 2017 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 40,000,000 | 40,000,000 |
Note 6600 Series Due 2018 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 22,000,000 | 22,000,000 |
Note 8310 Series Due 2019 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 10,000,000 | 10,000,000 |
Note 7630 Series Due 2019 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 20,000,000 | 20,000,000 |
Note 5370 Series Due 2020 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 75,000,000 | 75,000,000 |
Note 9050 Series Due 2021 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 10,000,000 | 10,000,000 |
Note 3176 Series Due 2021 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 50,000,000 | 50,000,000 |
Note 3542 Series Due 2023 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 50,000,000 | 0 |
Note 5620 Series Due 2023 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 40,000,000 | 40,000,000 |
Note 7720 Series Due 2025 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 20,000,000 | 20,000,000 |
Note 6520 Series Due 2025 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 10,000,000 | 10,000,000 |
Note 7050 Series Due 2026 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 20,000,000 | 20,000,000 |
Note 7000 Series Due 2027 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 20,000,000 | 20,000,000 |
Note 6650 Series Due 2027 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 19,700,000 | 19,700,000 |
Note 6650 Series Due 2028 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 10,000,000 | 10,000,000 |
Note 7740 Series Due 2030 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 20,000,000 | 20,000,000 |
Note 7850 Series Due 2030 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 10,000,000 | 10,000,000 |
Note 5820 Series Due 2032 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 30,000,000 | 30,000,000 |
Note 5660 Series Due 2032 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 40,000,000 | 40,000,000 |
Note 5250 Series Due 2035 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 10,000,000 | 10,000,000 |
Note 4000 Series Due 2042 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Secured Debt | 50,000,000 | 50,000,000 |
Secured Notes Due 2016 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Subsidiary Senior Secured Notes | $40,000,000 | $40,000,000 |
Pension_and_Other_Postretireme2
Pension and Other Postretirement Benefits (details) (USD $) | 12 Months Ended | |||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||
General Discussion of Pension and Other Postretirement Benefits [Abstract] | ' | ' | ' | |||
Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Projected Benefit Obligation Qualified Plans | $362,400,000 | $404,000,000 | ' | |||
Defined Benefit Plan, Fair Value of Plan Assets | 267,062,000 | 249,603,000 | ' | |||
Defined Benefit Plan Amounts That Will Be Amortized From Accumulated Other Comprehensive Income Loss In Next Fiscal Year Regulatory | 9,800,000 | ' | ' | |||
Defined Benefit Plan Amortization Of Net Gains Losses Regulatory | 9,400,000 | ' | ' | |||
Defined Benefit Plan Amortization Of Net Prior Service Cost Credit Regulatory | 400,000 | ' | ' | |||
Multiemployer Plan, Period Contributions | 500,000 | 400,000 | 400,000 | |||
Multiemployer Plan, Percentage of Contributions | '4% to 5% | ' | ' | |||
Multiemployer Plans, Withdrawal Obligation | 8,300,000 | ' | ' | |||
Multiemployer Plans, Withdrawal Payment Per Year For Next 20 Years | 600,000 | ' | ' | |||
Defined Contribution Plan, Cost Recognized | 2,200,000 | 2,200,000 | 2,400,000 | |||
Defined Benefit Obligations Non Qualified Supplemental | 28,700,000 | 31,900,000 | ' | |||
Qualified Defined Benefit Plans Benefit Obligation Underfunded | 95,300,000 | ' | ' | |||
Defined Benefit Plan Amounts Recognized In Regulatory Amortization And Other Comprehensive Income Net Prior Service Cost Credit Before Tax [Abstract] | ' | ' | ' | |||
Other Comprehensive Income (Loss), Amortization, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost Recognized in Net Periodic Benefit Cost, before Tax | -7,000 | -35,000 | ' | |||
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, beore Tax | 1,550,000 | 1,134,000 | ' | |||
Accumulated other comprehensive loss | -6,358,000 | -9,291,000 | -7,800,000 | |||
Total Amounts Reclassified Into Accumulated Other Comprehensive Income | 3,302,000 | -3,495,000 | ' | |||
Other Comprehensive Income (Loss), Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service (Cost) Credit, Tax | -1,912,000 | 905,000 | ' | |||
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 2,933,000 | -1,491,000 | ' | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | ' | ' | ' | |||
Defined Benefit Plan, Amortization of Net Gains (Losses) | 1,000,000 | ' | ' | |||
Pension and Other Postretirement Benefit Contributions [Abstract] | ' | ' | ' | |||
Payroll Overhead Charge to Construction Work Orders | '30% to 40% | ' | ' | |||
Defined Benefit Plan, Health Care Cost Trend Rate For Pre-65 Population Assumed for Next Fiscal Year | 9.00% | ' | ' | |||
Defined Benefit Plan, Health Care Cost Trend Rate For Post-65 Population Assumed for Next Fiscal Year | 7.90% | ' | ' | |||
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 5.00% | ' | ' | |||
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | '2021 | ' | ' | |||
Other Comprehensive Income Total Reclassifications Before Tax | 4,845,000 | -2,396,000 | ' | |||
Qualified Contributions Expected During Next Fiscal Year | '$15 million | ' | ' | |||
Defined Benefit Plan, Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rates [Abstract] | ' | ' | ' | |||
Defined Benefit Plan, Effect of One Percentage Point Increase on Service and Interest Cost Components | 73,000 | ' | ' | |||
Defined Benefit Plan, Effect of One Percentage Point Decrease on Service and Interest Cost Components | -64,000 | ' | ' | |||
Defined Benefit Plan, Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation | 739,000 | ' | ' | |||
Defined Benefit Plan, Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation | -660,000 | ' | ' | |||
Defined Benefit Plan, Information about Plan Assets [Abstract] | ' | ' | ' | |||
Plan Asset Receivable Or Payable Accrued Interest And Dividend Income | 468,000 | 388,000 | ' | |||
Plan Asset Receivable Or Payable Due From Broker Securities Sold | 1,154,000 | 4,459,000 | ' | |||
Total Pension Plan Asset Receivables | 1,622,000 | 4,847,000 | ' | |||
Plan Asset Receivable Or Payable Due From Broker Securities Purchased | 1,178,000 | 935,000 | ' | |||
Defined Benefit Plan, Fair Value of Plan Assets | 267,062,000 | 249,603,000 | ' | |||
Plan Asset Target Allocation [Abstract] | ' | ' | ' | |||
US Large Cap Equity Pension Plan Asset Target Allocation | 13.00% | ' | ' | |||
US Small Mid Cap Equity Pension Plan Asset Target Allocation | 8.50% | ' | ' | |||
Non US Equity Pension Plan Asset Target Allocation | 13.00% | ' | ' | |||
Emerging Markets Equity Pension Plan Asset Target Allocation | 3.50% | ' | ' | |||
Long Government Credit Pension Plan Asset Target Allocation | 30.00% | ' | ' | |||
High Yield Pension Plan Asset Target Allocation | 5.00% | ' | ' | |||
Emerging Market Debt Pension Plan Asset Target Allocation | 5.00% | ' | ' | |||
Real Estate Funds Pension Plan Asset Target Allocation | 6.00% | ' | ' | |||
Absolute Return Strategy Pension Plan Asset Target Allocation | 11.00% | ' | ' | |||
Real Return Strategy Pension Plan Asset Target Allocation | 5.00% | ' | ' | |||
Defined Benefit Plan Fair Value Of Plan Assets By Measurement Table [Abstract] | ' | ' | ' | |||
US Large Cap Equity Pension Assets | 39,203,000 | 30,938,000 | ' | |||
US Small Mid Cap Equity Pension Assets | 30,520,000 | 22,936,000 | ' | |||
Non US Equity Pension Assets | 33,984,000 | 29,743,000 | ' | |||
Emerging Markets Equity Pension Assets | 7,405,000 | 8,004,000 | ' | |||
Fixed Income Pension Assets | 367,000 | 8,824,000 | ' | |||
Long Government Credit Pension Assets | 65,915,000 | 59,347,000 | ' | |||
High Yield Bonds Pension Assets | 12,890,000 | 12,017,000 | ' | |||
Emerging Market Debt Pension Assets | 9,987,000 | 11,421,000 | ' | |||
Real Estate Funds Pension Assets | 16,559,000 | 15,992,000 | ' | |||
Absolute Return Strategy Pension Assets | 35,339,000 | 32,078,000 | ' | |||
Real Return Strategy Pension Assets | 13,031,000 | 12,932,000 | ' | |||
Cash And Cash Equivalents Pension Assets | 1,418,000 | 1,459,000 | ' | |||
Total Pension Asset Investments Net Of Receivables And Payables | 266,618,000 | 245,691,000 | ' | |||
Pension Plans, Defined Benefit [Member] | ' | ' | ' | |||
General Discussion of Pension and Other Postretirement Benefits [Abstract] | ' | ' | ' | |||
Defined Benefit Plan, Fair Value of Plan Assets | 267,062,000 | 249,603,000 | 215,970,000 | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | |||
Defined Benefit Plan, Benefit Obligation | 391,089,000 | 435,889,000 | 391,127,000 | |||
Defined Benefit Plan, Service Cost | 8,698,000 | 8,047,000 | 7,122,000 | |||
Defined Benefit Plan, Interest Cost | 16,400,000 | 17,295,000 | 18,134,000 | |||
Defined Benefit Plan, Actuarial Gain (Loss) | -51,043,000 | 37,615,000 | ' | |||
Defined Benefit Plan, Benefits Paid | 18,855,000 | 18,195,000 | 18,269,000 | |||
Defined Benefit Plan, Actual Return on Plan Assets | 22,872,000 | 26,683,000 | ' | |||
Defined Benefit Plan, Contributions by Employer | 13,442,000 | 25,145,000 | ' | |||
Defined Benefit Plan, Funded Status of Plan | -124,027,000 | -186,286,000 | ' | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | ' | ' | ' | |||
Defined Benefit Plan, Service Cost | 8,698,000 | 8,047,000 | 7,122,000 | |||
Defined Benefit Plan, Interest Cost | 16,400,000 | 17,295,000 | 18,134,000 | |||
Defined Benefit Plan, Expected Return on Plan Assets | -18,721,000 | -19,082,000 | -17,867,000 | |||
Defined Benefit Plan Amortization Of Transition Obligations | 0 | 0 | 0 | |||
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 223,000 | 195,000 | 352,000 | |||
Defined Benefit Plan, Amortization of Net Gains (Losses) | 18,294,000 | 15,631,000 | 11,584,000 | |||
Defined Benefit Plan Net Periodic Benefit Cost | 24,894,000 | 22,086,000 | 19,325,000 | |||
Defined Benefit Plan Amount Allocated To Construction | -6,712,000 | -5,820,000 | -4,905,000 | |||
Defined Benefit Plan Net Amount Deferred To Regulatory Balancing Account | -9,115,000 | [1] | -7,876,000 | [1] | -6,008,000 | [1] |
Defined Benefit Plan Net Amount Charged To Expense | 9,067,000 | 8,390,000 | 8,412,000 | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ' | ' | ' | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 3.84% | 4.51% | 5.49% | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 7.50% | 8.00% | 8.25% | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.73% | 3.85% | 4.51% | |||
Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Low Range | 3.25% | 3.25% | 3.25% | |||
Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation High Range | 5.00% | 5.00% | 5.00% | |||
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Rate Of Compensation Low Range | 3.25% | 3.25% | 3.25% | |||
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Rate Of Compensation High Range | 5.00% | 5.00% | 5.00% | |||
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return On Assets | 7.50% | 7.50% | 8.00% | |||
Pension and Other Postretirement Benefit Contributions [Abstract] | ' | ' | ' | |||
Qualified Defined Benefit Pension Plan Contributions | 13,907,000 | 25,559,000 | ' | |||
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | 15,607,000 | ' | ' | |||
Defined Benefit Plan, Benefits Paid | 18,855,000 | 18,195,000 | 18,269,000 | |||
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | 19,450,000 | ' | ' | |||
Defined Benefit Plan, Expected Future Benefit Payments, Year Two | 20,033,000 | ' | ' | |||
Defined Benefit Plan, Expected Future Benefit Payments, Year Three | 20,671,000 | ' | ' | |||
Defined Benefit Plan, Expected Future Benefit Payments, Year Four | 21,424,000 | ' | ' | |||
Defined Benefit Plan, Expected Future Benefit Payments, Year Five | 22,337,000 | ' | ' | |||
Defined Benefit Plan, Expected Future Benefit Payments, Five Fiscal Years Thereafter | 129,177,000 | ' | ' | |||
Defined Benefit Plan, Information about Plan Assets [Abstract] | ' | ' | ' | |||
Defined Benefit Plan, Fair Value of Plan Assets | 267,062,000 | 249,603,000 | 215,970,000 | |||
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' | |||
General Discussion of Pension and Other Postretirement Benefits [Abstract] | ' | ' | ' | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | 0 | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | |||
Defined Benefit Plan, Benefit Obligation | 28,754,000 | 33,119,000 | 30,049,000 | |||
Defined Benefit Plan, Service Cost | 656,000 | 592,000 | 614,000 | |||
Defined Benefit Plan, Interest Cost | 1,157,000 | 1,267,000 | 1,404,000 | |||
Defined Benefit Plan, Actuarial Gain (Loss) | -4,283,000 | 3,182,000 | ' | |||
Defined Benefit Plan, Benefits Paid | 1,895,000 | 1,971,000 | 1,870,000 | |||
Defined Benefit Plan, Actual Return on Plan Assets | 0 | 0 | ' | |||
Defined Benefit Plan, Contributions by Employer | 1,895,000 | 1,971,000 | ' | |||
Defined Benefit Plan, Funded Status of Plan | -28,754,000 | -33,119,000 | ' | |||
Defined Benefit Plan Amounts Recognized In Regulatory Amortization And Other Comprehensive Income Net Prior Service Cost Credit Before Tax [Abstract] | ' | ' | ' | |||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, before Tax | -4,283,000 | 3,182,000 | 2,225,000 | |||
Regulatory Amortization Of Defined Benefit Plan Net Transition Asset Obligation Recognized In Net Periodic Benefit Cost Before Tax | 0 | -411,000 | -411,000 | |||
Other Comprehensive Income (Loss), Amortization, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost Recognized in Net Periodic Benefit Cost, before Tax | -197,000 | -197,000 | -197,000 | |||
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, beore Tax | -733,000 | -435,000 | -289,000 | |||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax | -5,213,000 | 2,139,000 | 1,328,000 | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | ' | ' | ' | |||
Defined Benefit Plan, Service Cost | 656,000 | 592,000 | 614,000 | |||
Defined Benefit Plan, Interest Cost | 1,157,000 | 1,267,000 | 1,404,000 | |||
Defined Benefit Plan, Expected Return on Plan Assets | 0 | 0 | 0 | |||
Defined Benefit Plan Amortization Of Transition Obligations | 0 | 411,000 | 411,000 | |||
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 197,000 | 197,000 | 197,000 | |||
Defined Benefit Plan, Amortization of Net Gains (Losses) | 734,000 | 435,000 | 289,000 | |||
Defined Benefit Plan Net Periodic Benefit Cost | 2,744,000 | 2,902,000 | 2,915,000 | |||
Defined Benefit Plan Amount Allocated To Construction | -856,000 | -882,000 | -878,000 | |||
Defined Benefit Plan Net Amount Deferred To Regulatory Balancing Account | 0 | [1] | 0 | [1] | 0 | [1] |
Defined Benefit Plan Net Amount Charged To Expense | 1,888,000 | 2,020,000 | 2,037,000 | |||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Prior Service Cost (Credit), before Tax | 685,000 | 882,000 | ' | |||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax | 4,665,000 | 9,681,000 | ' | |||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax | 5,350,000 | 10,563,000 | ' | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ' | ' | ' | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 3.56% | 4.33% | 5.16% | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.45% | 3.56% | 4.33% | |||
Pension and Other Postretirement Benefit Contributions [Abstract] | ' | ' | ' | |||
Qualified Defined Benefit Pension Plan Contributions | 1,895,000 | 1,971,000 | ' | |||
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | 1,892,000 | ' | ' | |||
Defined Benefit Plan, Benefits Paid | 1,895,000 | 1,971,000 | 1,870,000 | |||
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | 1,892,000 | ' | ' | |||
Defined Benefit Plan, Expected Future Benefit Payments, Year Two | 1,927,000 | ' | ' | |||
Defined Benefit Plan, Expected Future Benefit Payments, Year Three | 2,001,000 | ' | ' | |||
Defined Benefit Plan, Expected Future Benefit Payments, Year Four | 2,053,000 | ' | ' | |||
Defined Benefit Plan, Expected Future Benefit Payments, Year Five | 2,112,000 | ' | ' | |||
Defined Benefit Plan, Expected Future Benefit Payments, Five Fiscal Years Thereafter | 10,823,000 | ' | ' | |||
Defined Benefit Plan, Information about Plan Assets [Abstract] | ' | ' | ' | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | 0 | |||
Qualified Pension Plans, Defined Benefit [Member] | ' | ' | ' | |||
General Discussion of Pension and Other Postretirement Benefits [Abstract] | ' | ' | ' | |||
Defined Benefit Plan, Fair Value of Plan Assets | 267,100,000 | 249,600,000 | ' | |||
Defined Benefit Plan Amounts Recognized In Regulatory Amortization And Other Comprehensive Income Net Prior Service Cost Credit Before Tax [Abstract] | ' | ' | ' | |||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, before Tax | -51,892,000 | 26,504,000 | 66,404,000 | |||
Regulatory Amortization Of Defined Benefit Plan Net Transition Asset Obligation Recognized In Net Periodic Benefit Cost Before Tax | 0 | 0 | 0 | |||
Other Comprehensive Income (Loss), Amortization, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost Recognized in Net Periodic Benefit Cost, before Tax | -230,000 | -230,000 | -230,000 | |||
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, beore Tax | -16,744,000 | -14,482,000 | -10,731,000 | |||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax | -68,866,000 | 11,792,000 | 55,443,000 | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | ' | ' | ' | |||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Prior Service Cost (Credit), before Tax | 867,000 | 1,097,000 | ' | |||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax | 119,638,000 | 188,278,000 | ' | |||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax | 120,505,000 | 189,375,000 | ' | |||
Defined Benefit Plan, Information about Plan Assets [Abstract] | ' | ' | ' | |||
Defined Benefit Plan, Fair Value of Plan Assets | 267,100,000 | 249,600,000 | ' | |||
Non-Qualified Pension Plans, Defined Benefit [Member] | ' | ' | ' | |||
Defined Benefit Plan Amounts Recognized In Regulatory Amortization And Other Comprehensive Income Net Prior Service Cost Credit Before Tax [Abstract] | ' | ' | ' | |||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, before Tax | -3,302,000 | 3,511,000 | 2,948,000 | |||
Regulatory Amortization Of Defined Benefit Plan Net Transition Asset Obligation Recognized In Net Periodic Benefit Cost Before Tax | 0 | 0 | 0 | |||
Other Comprehensive Income (Loss), Amortization, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost Recognized in Net Periodic Benefit Cost, before Tax | 7,000 | 35,000 | -122,000 | |||
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, beore Tax | -1,550,000 | -1,150,000 | -854,000 | |||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax | -4,845,000 | 2,396,000 | 1,972,000 | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | ' | ' | ' | |||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Prior Service Cost (Credit), before Tax | -5,000 | -12,000 | ' | |||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax | 10,475,000 | 15,327,000 | ' | |||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax | 10,470,000 | 15,315,000 | ' | |||
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | |||
Defined Benefit Plan Fair Value Of Plan Assets By Measurement Table [Abstract] | ' | ' | ' | |||
US Large Cap Equity Pension Assets | 39,124,000 | 29,047,000 | ' | |||
US Small Mid Cap Equity Pension Assets | 30,465,000 | 21,624,000 | ' | |||
Non US Equity Pension Assets | 16,782,000 | 13,931,000 | ' | |||
Emerging Markets Equity Pension Assets | 7,405,000 | 8,004,000 | ' | |||
Fixed Income Pension Assets | 0 | 0 | ' | |||
Long Government Credit Pension Assets | 33,152,000 | 30,098,000 | ' | |||
High Yield Bonds Pension Assets | 0 | 0 | ' | |||
Emerging Market Debt Pension Assets | 9,987,000 | 11,421,000 | ' | |||
Real Estate Funds Pension Assets | 16,559,000 | 15,992,000 | ' | |||
Absolute Return Strategy Pension Assets | 0 | 0 | ' | |||
Real Return Strategy Pension Assets | 13,031,000 | 12,932,000 | ' | |||
Cash And Cash Equivalents Pension Assets | 0 | 0 | ' | |||
Total Pension Asset Investments Net Of Receivables And Payables | 166,505,000 | 143,049,000 | ' | |||
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | |||
Defined Benefit Plan Fair Value Of Plan Assets By Measurement Table [Abstract] | ' | ' | ' | |||
US Large Cap Equity Pension Assets | 79,000 | 1,891,000 | ' | |||
US Small Mid Cap Equity Pension Assets | 55,000 | 1,312,000 | ' | |||
Non US Equity Pension Assets | 17,202,000 | 15,812,000 | ' | |||
Emerging Markets Equity Pension Assets | 0 | 0 | ' | |||
Fixed Income Pension Assets | 367,000 | 8,824,000 | ' | |||
Long Government Credit Pension Assets | 32,763,000 | 29,249,000 | ' | |||
High Yield Bonds Pension Assets | 12,890,000 | 12,017,000 | ' | |||
Emerging Market Debt Pension Assets | 0 | 0 | ' | |||
Real Estate Funds Pension Assets | 0 | 0 | ' | |||
Absolute Return Strategy Pension Assets | 35,339,000 | 32,078,000 | ' | |||
Real Return Strategy Pension Assets | 0 | 0 | ' | |||
Cash And Cash Equivalents Pension Assets | 1,418,000 | 1,459,000 | ' | |||
Total Pension Asset Investments Net Of Receivables And Payables | 100,113,000 | 102,642,000 | ' | |||
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | |||
Defined Benefit Plan Fair Value Of Plan Assets By Measurement Table [Abstract] | ' | ' | ' | |||
US Large Cap Equity Pension Assets | 0 | 0 | ' | |||
US Small Mid Cap Equity Pension Assets | 0 | 0 | ' | |||
Non US Equity Pension Assets | 0 | 0 | ' | |||
Emerging Markets Equity Pension Assets | 0 | 0 | ' | |||
Fixed Income Pension Assets | 0 | 0 | ' | |||
Long Government Credit Pension Assets | 0 | 0 | ' | |||
High Yield Bonds Pension Assets | 0 | 0 | ' | |||
Emerging Market Debt Pension Assets | 0 | 0 | ' | |||
Real Estate Funds Pension Assets | 0 | 0 | ' | |||
Absolute Return Strategy Pension Assets | 0 | 0 | ' | |||
Real Return Strategy Pension Assets | 0 | 0 | ' | |||
Cash And Cash Equivalents Pension Assets | 0 | 0 | ' | |||
Total Pension Asset Investments Net Of Receivables And Payables | $0 | $0 | ' | |||
[1] | Effective January 1, 2011, the OPUC approved the deferral of certain pension expenses above or below the amount set in rates, with recovery of these deferred amounts through the implementation of a balancing account, which includes the expectation of lower net periodic benefit costs in future years. Deferred pension expense balances include accrued interest at the utilitybs authorized rate of return. See Note 2. |
Income_Tax_details
Income Tax (details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Components of Deferred Tax Assets and Liabilities [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Tax Liabilities, Property, Plant and Equipment | $322,527,000 | ' | ' | ' | ' | ' | ' | ' | $362,160,000 | $322,527,000 | ' |
Deferred Tax Liabilities, Regulatory Assets | 60,253,000 | ' | ' | ' | ' | ' | ' | ' | 56,183,000 | 60,253,000 | ' |
Deferred Tax Liabilities, Regulatory Assets and Liabilities | 49,197,000 | ' | ' | ' | ' | ' | ' | ' | 71,971,000 | 49,197,000 | ' |
Deferred Tax Liabilities Non Regulated Liabilities | 43,824,000 | ' | ' | ' | ' | ' | ' | ' | 47,516,000 | 43,824,000 | ' |
Deferred Tax Liabilities, Net | 475,801,000 | ' | ' | ' | ' | ' | ' | ' | 537,830,000 | 475,801,000 | ' |
Deferred Tax Assets, Regulatory Assets and Liabilities | -7,724,000 | ' | ' | ' | ' | ' | ' | ' | 0 | -7,724,000 | ' |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | 6,024,000 | ' | ' | ' | ' | ' | ' | ' | 4,112,000 | 6,024,000 | ' |
Deferred Tax Assets Non Regulated Assets | -1,235,000 | ' | ' | ' | ' | ' | ' | ' | 0 | -1,235,000 | ' |
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax | 1,986,000 | ' | ' | ' | ' | ' | ' | ' | 1,939,000 | 1,986,000 | ' |
Deferred Tax Assets, Tax Credit Carryforwards, Other | 32,997,000 | ' | ' | ' | ' | ' | ' | ' | 45,351,000 | 32,997,000 | ' |
Deferred Tax Assets, Net | 32,048,000 | ' | ' | ' | ' | ' | ' | ' | 51,402,000 | 32,048,000 | ' |
Deferred Tax Assets (Liabilities), Net | 443,753,000 | ' | ' | ' | ' | ' | ' | ' | 486,428,000 | 443,753,000 | ' |
Accumulated Deferred Investment Tax Credit | 624,000 | ' | ' | ' | ' | ' | ' | ' | 367,000 | 624,000 | ' |
Deferred Tax Liabilities, Other | 444,377,000 | ' | ' | ' | ' | ' | ' | ' | 486,795,000 | 444,377,000 | ' |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | ' | ' | ' | ' | ' | ' | ' | ' | 35,785,000 | 35,764,000 | 37,056,000 |
Income Tax Reconciliation, State and Local Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | 4,674,000 | 4,773,000 | 4,945,000 |
Income Tax Reconciliation, Tax Credits, Investment | ' | ' | ' | ' | ' | ' | ' | ' | -271,000 | -350,000 | -442,000 |
Differences Regulatory Commission | ' | ' | ' | ' | ' | ' | ' | ' | 2,357,000 | 1,718,000 | 1,647,000 |
Income Tax Reconciliation, Tax Credits, Other | ' | ' | ' | ' | ' | ' | ' | ' | -864,000 | -800,000 | -786,000 |
One-Time Tax Adjustment, Net of Federal Benefit | 2,700,000 | ' | ' | ' | 0 | ' | ' | ' | 0 | 2,700,000 | 0 |
Income Tax Reconciliation, Other Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | 24,000 | -402,000 | 405,000 |
Income Tax Expense (Benefit) | 18,217,000 | -3,245,000 | 768,000 | 27,663,000 | 19,600,000 | -5,840,000 | 1,181,000 | 27,884,000 | 41,705,000 | 43,403,000 | 42,825,000 |
Effective Income Tax Rate | ' | ' | ' | ' | ' | ' | ' | ' | 40.80% | 42.50% | 40.50% |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal Operating Loss Carryfoward | ' | ' | ' | ' | ' | ' | ' | ' | 113,000,000 | ' | ' |
State Operating Loss Carryforward | ' | ' | ' | ' | ' | ' | ' | ' | 113,700,000 | ' | ' |
IRS Tax Payment Due To Examination | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' |
Tax Provision Current And Deferred [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current Federal Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -62,000 | 1,693,000 | 130,000 |
Current State and Local Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -11,000 | 99,000 | -929,000 |
Current Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -73,000 | 1,792,000 | -799,000 |
Deferred Federal Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 35,109,000 | 31,187,000 | 35,021,000 |
Deferred State and Local Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 6,669,000 | 10,424,000 | 8,603,000 |
Deferred Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 41,778,000 | 41,611,000 | 43,624,000 |
Income Tax Expense (Benefit) | 18,217,000 | -3,245,000 | 768,000 | 27,663,000 | 19,600,000 | -5,840,000 | 1,181,000 | 27,884,000 | 41,705,000 | 43,403,000 | 42,825,000 |
Income Taxes Paid | ' | ' | ' | ' | ' | ' | ' | ' | 870,000 | 2,979,000 | 1,756,000 |
Tax Provision Regulated And Nonutility [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Regulated Current Tax Expense Benefit | ' | ' | ' | ' | ' | ' | ' | ' | -73,000 | 1,909,000 | -4,646,000 |
Regulated Deferred And Local Tax Expense Benefit | ' | ' | ' | ' | ' | ' | ' | ' | 38,073,000 | 39,163,000 | 49,595,000 |
Regulated Investments And Credits Tax Expense Benefit | ' | ' | ' | ' | ' | ' | ' | ' | -271,000 | -350,000 | -422,000 |
Total Tax Provision Related To Regulated Utility | ' | ' | ' | ' | ' | ' | ' | ' | 37,729,000 | 40,722,000 | 44,527,000 |
Non Utility Current Tax Expense Benefit | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -117,000 | 3,846,000 |
Non Utility Deferred And Local Tax Expense Benefit | ' | ' | ' | ' | ' | ' | ' | ' | 3,976,000 | 2,798,000 | -5,548,000 |
Total Tax Provision Related To Non Utility | ' | ' | ' | ' | ' | ' | ' | ' | 3,976,000 | 2,681,000 | -1,702,000 |
Income Tax Expense (Benefit) | $18,217,000 | ($3,245,000) | $768,000 | $27,663,000 | $19,600,000 | ($5,840,000) | $1,181,000 | $27,884,000 | $41,705,000 | $43,403,000 | $42,825,000 |
Property_Plant_and_Equipment_d
Property, Plant and Equipment (details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Public Utilities, Property, Plant and Equipment [Abstract] | ' | ' | ' |
Public Utilities, Property, Plant and Equipment, Disclosure of Composite Depreciation Rate for Plants in Service | 2.80% | 2.80% | 2.80% |
Weighted Average Depreciation Rates Non Utility | 2.20% | 2.20% | 2.20% |
Regulatory liabilities | $303,485 | $288,113 | ' |
Property, Plant and Equipment, Net, by Type [Abstract] | ' | ' | ' |
Utility plant in service | 2,918,739 | 2,786,008 | ' |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 855,865 | 812,396 | ' |
Total property, plant, and equipment, net | 2,062,874 | 1,973,612 | ' |
Utility Plant [Member] | ' | ' | ' |
Property, Plant and Equipment, Net, by Type [Abstract] | ' | ' | ' |
Utility plant in service | 2,585,901 | 2,435,886 | ' |
Public Utilities, Property, Plant and Equipment, Construction Work in Progress | 28,855 | 46,831 | ' |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 827,380 | 789,201 | ' |
Total property, plant, and equipment, net | 1,787,376 | 1,693,516 | ' |
Non Utility Plant [Member] | ' | ' | ' |
Property, Plant and Equipment, Net, by Type [Abstract] | ' | ' | ' |
Utility plant in service | 297,330 | 296,781 | ' |
Public Utilities, Property, Plant and Equipment, Construction Work in Progress | 6,653 | 6,510 | ' |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 28,485 | 23,195 | ' |
Total property, plant, and equipment, net | 275,498 | 280,096 | ' |
Accrued Asset Removal Costs [Member] | ' | ' | ' |
Public Utilities, Property, Plant and Equipment [Abstract] | ' | ' | ' |
Regulatory liabilities | $296,294 | $281,213 | ' |
Gas_Reserves_details
Gas Reserves (details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Gas Reserves [Abstract] | ' | ' |
Gas Reserves Percent Gas Supplies YTD | 6.00% | ' |
Gas Reserves, Current | $20,646 | $14,966 |
Gas Reserves Noncurrent Gross | 140,573 | 92,179 |
Gas Reserves Amortization | 18,575 | 7,486 |
Total Gas Reserves | 142,644 | 99,659 |
Deferred Taxes Related To Gas Reserves | 42,117 | 28,329 |
Net Gas Reserves Investment | $100,527 | $71,330 |
Investments_Details
Investments (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other Investments [Abstract] | ' | ' | ' |
Life Insurance, Corporate or Bank Owned, Amount | $51,791,000 | $51,439,000 | ' |
Equity Method Investments | 14,048,000 | 14,216,000 | ' |
Other Investments | 2,012,000 | 2,012,000 | ' |
Other investments | 67,851,000 | 67,667,000 | ' |
Palomar [Abstract] | ' | ' | ' |
Equity Method Investment, Ownership Percentage | 50.00% | ' | ' |
Palomar Impairment | ' | ' | 1,300,000 |
Equity Method Investment, Underlying Equity in Net Assets | 13,400,000 | ' | ' |
Equity Method Investment Exposure | $13,200,000 | ' | ' |
Derivative_Instruments_Gain_Lo
Derivative Instruments Gain (Loss) by Hedging Relationship, by Income Statement Location, by Derivative Instrument Risk (details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Summary of Derivative Instruments [Abstract] | ' | ' | ' |
Cost of sales | ($373,298,000) | ($355,335,000) | ($458,508,000) |
General Discussion of Derivative Instruments and Hedging Activities [Abstract] | ' | ' | ' |
Changes In Fair Value As Deferred Regulatory Assets Or Liabilities In Percentage | '80% or 90% | ' | ' |
Changes In Fair Value Deferred As Income Statement For Contracts Not Qualifying For Hedge Accounting And To Other Comprehensive Income For Contracts Qualifying For Hedge Accounting | '20% or 10% | ' | ' |
Oregon PGA Deferral Percentage | 90.00% | 90.00% | 90.00% |
Derivative, Loss on Derivative | 11,000,000 | 70,200,000 | ' |
Unrealized Gain On Derivatives | 5,400,000 | ' | ' |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 7,200,000 | 5,600,000 | ' |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 2,500,000 | 11,400,000 | ' |
Maturity Of Credit Risk Derivatives 1 | 'March 2016 | ' | ' |
Derivative Fair Value Of Derivative Net | 4,700,000 | -5,800,000 | ' |
Notional Disclosures [Abstract] | ' | ' | ' |
Financial Derivative, Nonmonetary Notional Amount | 389,225,000 | 395,820,000 | ' |
Derivative, Nonmonetary Notional Amount | 552,500,000 | 398,250,000 | ' |
Notional Amount of Foreign Currency Derivatives | 15,002,000 | 13,231,000 | ' |
Natural Gas Commodity [Member] | ' | ' | ' |
Summary of Derivative Instruments [Abstract] | ' | ' | ' |
Cost of sales | 4,985,000 | -5,850,000 | ' |
Less:Amounts deferred to regulatory accounts on balance sheet | -4,964,000 | 5,850,000 | ' |
Total Impact On Earnings | 21,000 | 0 | ' |
Foreign Currency [Member] | ' | ' | ' |
Summary of Derivative Instruments [Abstract] | ' | ' | ' |
Total Comprehensive Income | -300,000 | 65,000 | ' |
Less:Amounts deferred to regulatory accounts on balance sheet | 300,000 | -65,000 | ' |
Total Impact On Earnings | $0 | $0 | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies (details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Leases [Abstract] | ' | ' | ' |
Land Buildings And Equipment Expiration Date | 'through 2108 | ' | ' |
Operating Leases, Rent Expense, Minimum Rentals | $5,100,000 | $4,800,000 | $5,400,000 |
Operating And Capital Leases Table [Abstract] | ' | ' | ' |
Operating Leases, Future Minimum Payments Due, Current | 5,611,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Two Years | 5,530,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Three Years | 5,510,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Four Years | 5,506,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Five Years | 2,858,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due Thereafter | 34,836,000 | ' | ' |
Operating Leases, Future Minimum Payments Due | 59,851,000 | ' | ' |
Capital Leases, Future Minimum Payments Due, Current | 462,000 | ' | ' |
Capital Leases, Future Minimum Payments Due in Two Years | 196,000 | ' | ' |
Capital Leases, Future Minimum Payments Due in Three Years | 82,000 | ' | ' |
Capital Leases, Future Minimum Payments Due in Four Years | 12,000 | ' | ' |
Capital Leases, Future Minimum Payments Due in Five Years | 0 | ' | ' |
Capital Leases, Future Minimum Payments Due Thereafter | 0 | ' | ' |
Capital Leases, Future Minimum Payments Due | 752,000 | ' | ' |
Future Minimum Payments Due Current | 6,073,000 | ' | ' |
Future Minimum Payments Due In Two Years | 5,726,000 | ' | ' |
Future Minimum Payments Due In Three Years | 5,592,000 | ' | ' |
Future Minimum Payments Due In Four Years | 5,518,000 | ' | ' |
Future Minimum Payments Due In Five Years | 2,858,000 | ' | ' |
Future Minimum Payments Due Thereafter | 34,836,000 | ' | ' |
Future Minimum Payments Due Total | 60,603,000 | ' | ' |
Unrecorded Unconditional Purchase Obligations [Abstract] | ' | ' | ' |
Unrecorded Unconditional Purchase Obligation, Purchases | 98,200,000 | 94,300,000 | 94,200,000 |
Unrecorded Unconditional Purchase Obligation Offsetting Sales | 4,500,000 | 4,200,000 | 3,100,000 |
Gas Purchase Agreements [Member] | ' | ' | ' |
Unrecorded Unconditional Purchase Obligation [Line Items] | ' | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within One Year | 60,692,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 0 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 0 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 0 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 0 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 0 | ' | ' |
Unrecorded Unconditional Purchase Obligation | 60,692,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation Amount Representing Interest | 20,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation Total At Present Value | 60,672,000 | ' | ' |
Pipeline Capacity Purchase Agreements [Member] | ' | ' | ' |
Unrecorded Unconditional Purchase Obligation [Line Items] | ' | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within One Year | 94,923,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 77,433,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 66,146,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 52,084,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 42,263,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 216,995,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation | 549,844,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation Amount Representing Interest | 113,437,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation Total At Present Value | 436,407,000 | ' | ' |
Pipeline Capacity Release Agreements [Member] | ' | ' | ' |
Unrecorded Unconditional Purchase Obligation [Line Items] | ' | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within One Year | 3,739,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 0 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 0 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 0 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 0 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 0 | ' | ' |
Unrecorded Unconditional Purchase Obligation | 3,739,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation Amount Representing Interest | 0 | ' | ' |
Unrecorded Unconditional Purchase Obligation Total At Present Value | $3,739,000 | ' | ' |
Environmental_Matters_details
Environmental Matters (details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | |||
Environmental Regulatory Table [Abstract] | ' | ' | ||
Cash Paid for Environmental Sites | $98,817,000 | [1] | $71,124,000 | [1] |
Environmental Regulatory Assets Noncurrent | 148,389,000 | [2] | 121,144,000 | [2] |
Environmental Remediation Obligations [Abstract] | ' | ' | ||
Damages Sought On Environmental Claims | 50,000,000 | ' | ||
Environmental Settlement Insurance Payments Expected in 2014 | 102,000,000 | ' | ||
Environmental Settlement Insurance Proceeds Received To Date | 48,000,000 | ' | ||
Loss Contingency Range Of Possible Loss Portland Harbor | '$169 million to $1.8 billion | ' | ||
Portland Harbor Number Of Potentially Responsible Parties | 'more than 100 | ' | ||
Loss Contingency Range Of Possible Loss Gasco Siltronic | '$39.2 million to $350 million | ' | ||
Gasco Siltronic Sediments Project Liability | 39,200,000 | ' | ||
Gasco Groundwater Source Control construction costs | 19,000,000 | ' | ||
Gasco Groundwater Source Control Allocated Insurance Proceeds To Constructed Water Treatment Station | 2,500,000 | ' | ||
Accrual for Environmental Loss Contingencies [Abstract] | ' | ' | ||
Environmental Current Liabilities | 16,176,000 | 24,466,000 | ||
Environmental Noncurrent Liabilities | 81,895,000 | 45,235,000 | ||
Gasco Siltronic Sediments [Member] | ' | ' | ||
Accrual for Environmental Loss Contingencies [Abstract] | ' | ' | ||
Environmental Current Liabilities | 1,278,000 | 2,207,000 | ||
Environmental Noncurrent Liabilities | 37,954,000 | 36,087,000 | ||
Portland Harbor Other [Member] | ' | ' | ||
Accrual for Environmental Loss Contingencies [Abstract] | ' | ' | ||
Environmental Current Liabilities | 1,766,000 | 1,767,000 | ||
Environmental Noncurrent Liabilities | 3,478,000 | 3,160,000 | ||
Gasco Upland [Member] | ' | ' | ||
Accrual for Environmental Loss Contingencies [Abstract] | ' | ' | ||
Environmental Current Liabilities | 11,010,000 | 18,722,000 | ||
Environmental Noncurrent Liabilities | 39,508,000 | 5,028,000 | ||
Siltronic Upland [Member] | ' | ' | ||
Accrual for Environmental Loss Contingencies [Abstract] | ' | ' | ||
Environmental Current Liabilities | 763,000 | 637,000 | ||
Environmental Noncurrent Liabilities | 406,000 | 379,000 | ||
Central Service Center [Member] | ' | ' | ||
Accrual for Environmental Loss Contingencies [Abstract] | ' | ' | ||
Environmental Current Liabilities | 85,000 | 140,000 | ||
Environmental Noncurrent Liabilities | 248,000 | 396,000 | ||
Front Street [Member] | ' | ' | ||
Accrual for Environmental Loss Contingencies [Abstract] | ' | ' | ||
Environmental Current Liabilities | 1,274,000 | 993,000 | ||
Environmental Noncurrent Liabilities | 122,000 | 0 | ||
Other Environmental [Member] | ' | ' | ||
Accrual for Environmental Loss Contingencies [Abstract] | ' | ' | ||
Environmental Current Liabilities | 0 | 0 | ||
Environmental Noncurrent Liabilities | $179,000 | $185,000 | ||
[1] | Includes $20.1 million reclassified to utility plant in 2013 associated with the water treatment station of which a portion was paid in 2012. | |||
[2] | Includes cash paid, remaining liability, and interest, net of insurance reimbursement |
Revision_Details
Revision (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 120 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2010 | |||||||||
Scenario, Previously Reported | Scenario, Previously Reported | Scenario, Previously Reported | Scenario, Previously Reported | Scenario, Previously Reported | Scenario, Previously Reported | Scenario, Previously Reported | Scenario, Previously Reported | Scenario, Previously Reported | Scenario, Previously Reported | Restatement Adjustment | Restatement Adjustment | Restatement Adjustment | Restatement Adjustment | ||||||||||||||||||||||||
Pre-tax decrease to regulatory assets and other income and expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,600,000 | ' | ||||||||
Income Statement [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Other income and expense, net | ' | ' | ' | ' | 887,000 | 1,180,000 | 620,000 | 472,000 | -384,000 | 1,426,000 | 779,000 | 1,291,000 | 4,669,000 | 3,159,000 | 3,112,000 | 1,300,000 | 1,710,000 | 921,000 | 1,005,000 | 406,000 | 1,781,000 | 1,122,000 | 1,214,000 | 4,936,000 | 4,523,000 | -1,777,000 | -1,411,000 | ' | ' | ||||||||
Income before income taxes | ' | ' | ' | ' | 46,364,000 | -14,124,000 | 1,995,000 | 67,947,000 | 48,366,000 | -14,367,000 | 3,166,000 | 68,704,000 | 102,243,000 | 102,182,000 | 105,869,000 | 46,777,000 | -13,594,000 | 2,296,000 | 68,480,000 | 49,156,000 | -14,012,000 | 3,509,000 | 68,627,000 | 103,959,000 | 107,280,000 | -1,777,000 | -1,411,000 | ' | ' | ||||||||
Income tax expense | ' | ' | ' | ' | 18,217,000 | -3,245,000 | 768,000 | 27,663,000 | 19,600,000 | -5,840,000 | 1,181,000 | 27,884,000 | 41,705,000 | 43,403,000 | 42,825,000 | 18,380,000 | -3,036,000 | 887,000 | 27,873,000 | 19,912,000 | -5,700,000 | 1,316,000 | 27,854,000 | 44,104,000 | 43,382,000 | -701,000 | -557,000 | ' | ' | ||||||||
Net income | 29,006,000 | -8,233,000 | 2,126,000 | 37,639,000 | 28,147,000 | [1] | -10,879,000 | [1] | 1,227,000 | [1] | 40,284,000 | [1] | 28,766,000 | -8,527,000 | 1,985,000 | 40,820,000 | 60,538,000 | 58,779,000 | 63,044,000 | 28,397,000 | -10,558,000 | 1,409,000 | 40,607,000 | 29,244,000 | -8,312,000 | 2,193,000 | 40,773,000 | 59,855,000 | 63,898,000 | -1,076,000 | -854,000 | ' | ' | ||||
Comprehensive income | ' | ' | ' | ' | 26,157,000 | -10,712,000 | 1,393,000 | 40,450,000 | 27,132,000 | -8,381,000 | 2,131,000 | 40,966,000 | 63,471,000 | 57,288,000 | 61,848,000 | 26,407,000 | -10,391,000 | 1,575,000 | 40,773,000 | 27,610,000 | -8,166,000 | 2,339,000 | 40,919,000 | 58,364,000 | 62,702,000 | -1,076,000 | -854,000 | ' | ' | ||||||||
Earnings per share of common stock - basic | $1.07 | [2] | ($0.31) | [2] | $0.08 | [2] | $1.40 | [2] | $1.05 | [1],[2] | ($0.41) | [1],[2] | $0.05 | [1],[2] | $1.50 | [1],[2] | $1.08 | ($0.32) | $0.07 | $1.53 | $2.24 | $2.19 | $2.36 | $1.06 | ($0.39) | $0.05 | $1.52 | $1.09 | ($0.31) | $0.08 | $1.53 | $2.23 | $2.39 | ($0.04) | ($0.03) | ' | ' |
Earnings per share of common stock - diluted | $1.07 | [2] | ($0.31) | [2] | $0.08 | [2] | $1.40 | [2] | $1.04 | [1],[2] | ($0.41) | [1],[2] | $0.05 | [1],[2] | $1.50 | [1],[2] | $1.07 | ($0.32) | $0.07 | $1.53 | $2.24 | $2.18 | $2.36 | $1.05 | ($0.39) | $0.05 | $1.51 | $1.09 | ($0.31) | $0.08 | $1.53 | $2.22 | $2.39 | ($0.04) | ($0.03) | ' | ' |
Assets, Noncurrent [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Regulatory assets | 369,603,000 | ' | ' | ' | 382,255,000 | 362,472,000 | 362,290,000 | 364,132,000 | 367,536,000 | 325,692,000 | 323,371,000 | 343,085,000 | 369,603,000 | 382,255,000 | 367,536,000 | 387,888,000 | 367,692,000 | 366,981,000 | 368,521,000 | 371,392,000 | 328,757,000 | 326,081,000 | 345,452,000 | 387,888,000 | 371,392,000 | -5,633,000 | -3,856,000 | -5,633,000 | ' | ||||||||
Total non-current assets | 2,640,463,000 | ' | ' | ' | 2,529,421,000 | 2,487,247,000 | 2,443,668,000 | 2,411,983,000 | 2,394,029,000 | 2,314,228,000 | 2,291,390,000 | 2,288,481,000 | 2,640,463,000 | 2,529,421,000 | 2,394,029,000 | 2,535,054,000 | 2,492,467,000 | 2,448,359,000 | 2,416,372,000 | 2,397,885,000 | 2,317,293,000 | 2,294,100,000 | 2,290,848,000 | 2,535,054,000 | 2,397,885,000 | -5,633,000 | -3,856,000 | -5,633,000 | ' | ||||||||
Total assets | 2,970,911,000 | ' | ' | ' | 2,813,120,000 | 2,685,148,000 | 2,630,450,000 | 2,722,873,000 | 2,742,718,000 | 2,564,775,000 | 2,519,284,000 | 2,569,186,000 | 2,970,911,000 | 2,813,120,000 | 2,742,718,000 | 2,818,753,000 | 2,690,368,000 | 2,635,141,000 | 2,727,262,000 | 2,746,574,000 | 2,567,840,000 | 2,521,994,000 | 2,571,553,000 | 2,818,753,000 | 2,746,574,000 | -5,633,000 | -3,856,000 | -5,633,000 | ' | ||||||||
Liabilities, Noncurrent [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Deferred tax liabilities | 532,036,000 | ' | ' | ' | 444,377,000 | 428,821,000 | 438,217,000 | 436,750,000 | 411,683,000 | 393,003,000 | 397,751,000 | 395,419,000 | 532,036,000 | 444,377,000 | 411,683,000 | 446,604,000 | 430,885,000 | 440,073,000 | 438,486,000 | 413,209,000 | 394,217,000 | 398,825,000 | 396,357,000 | 446,604,000 | 413,209,000 | -2,227,000 | -1,526,000 | -2,227,000 | ' | ||||||||
Total deferred credits and other non-current liabilities | 1,104,548,000 | ' | ' | ' | 1,023,357,000 | 983,665,000 | 989,151,000 | 997,292,000 | 974,396,000 | 865,713,000 | 873,768,000 | 872,776,000 | 1,104,548,000 | 1,023,357,000 | 974,396,000 | 1,025,584,000 | 985,729,000 | 991,007,000 | 999,028,000 | 975,922,000 | 866,927,000 | 874,842,000 | 873,714,000 | 1,025,584,000 | 975,922,000 | -2,227,000 | -1,526,000 | -2,227,000 | ' | ||||||||
Equity [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Retained earnings | 393,681,000 | ' | ' | ' | 382,347,000 | 366,428,000 | 389,247,000 | 399,946,000 | 371,575,000 | 354,723,000 | 374,853,000 | 384,470,000 | 393,681,000 | 382,347,000 | 371,575,000 | 385,753,000 | 369,584,000 | 392,082,000 | 402,599,000 | 373,905,000 | 356,574,000 | 376,489,000 | 385,899,000 | 385,753,000 | 373,905,000 | -3,406,000 | -2,330,000 | -3,406,000 | 1,400,000 | ||||||||
Total equity | 751,872,000 | ' | ' | ' | 729,627,000 | 714,403,000 | 734,735,000 | 743,318,000 | 712,158,000 | 694,754,000 | 712,992,000 | 721,799,000 | 751,872,000 | 729,627,000 | 712,158,000 | 733,033,000 | 717,559,000 | 737,570,000 | 745,971,000 | 714,488,000 | 696,605,000 | 714,628,000 | 723,228,000 | 733,033,000 | 714,488,000 | -3,406,000 | -2,330,000 | -3,406,000 | ' | ||||||||
Total liabilities and equity | $2,970,911,000 | ' | ' | ' | $2,813,120,000 | $2,685,148,000 | $2,630,450,000 | $2,722,873,000 | $2,742,718,000 | $2,564,775,000 | $2,519,284,000 | $2,569,186,000 | $2,970,911,000 | $2,813,120,000 | $2,742,718,000 | $2,818,753,000 | $2,690,368,000 | $2,635,141,000 | $2,727,262,000 | $2,746,574,000 | $2,567,840,000 | $2,521,994,000 | $2,571,553,000 | $2,818,753,000 | $2,746,574,000 | ($5,633,000) | ($3,856,000) | ($5,633,000) | ' | ||||||||
[1] | Prior period balances have been adjusted for a prior period error identified during the first quarter of 2013. See Note 16 for reconciliation to amounts previously reported. | ||||||||||||||||||||||||||||||||||||
[2] | Quarterly earnings (loss) per share are based upon the average number of common shares outstanding during each quarter. Variations in earnings between quarterly periods are due primarily to the seasonal nature of our business. |
Subsequent_Event_Details
Subsequent Event (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Event, Description | 'In December 2010, NW Natural commenced litigation against certain of its historical liability insurers. NW Natural alleged that the defendant insurance companies issued third party liability insurance policies to NW Natural and that the defendants had breached the terms of those policies by failing to reimburse and indemnify NW Natural for liabilities arising from environmental contamination at certain sites caused or alleged to be caused by its historical operations. NW Natural sought damages in excess of $50 million in losses it had incurred through the date of the complaint, as well as declaratory relief for additional damages it expected to incur in the future. Settlements with certain of the defendant insurance companies resulted in payments received by NW Natural through December 31, 2013 of approximately $48 million. In January and February 2014, the remaining defendant insurance companies agreed to settle all of NW Naturalbs claims for insurance recovery for past and future environmental remediation expenses. In 2014 the Company expects to receive additional payments aggregating approximately $102 million under settlement agreements signed in 2013 and 2014. Such payments are to be made in the first and second quarters of 2014. [As a result of such settlements, the Company anticipates dismissal of the litigation in the second quarter of 2014.] Regulatory treatment of these recoveries will be determined through our SRRM, the implementation of which is expected to be resolved later this year. |
Quarterly_Financial_Informatio2
Quarterly Financial Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||||||
Schedule Of Quarterly Financial Information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Operating revenues | $260,748 | $88,195 | $131,714 | $277,861 | $229,476 | $87,501 | $103,991 | $309,639 | ' | ' | ' | ' | $758,518 | $730,607 | $828,055 | ||||||||
Net income (loss) | $29,006 | ($8,233) | $2,126 | $37,639 | $28,147 | [1] | ($10,879) | [1] | $1,227 | [1] | $40,284 | [1] | $28,766 | ($8,527) | $1,985 | $40,820 | $60,538 | $58,779 | $63,044 | ||||
Earnings per share of common stock - basic | $1.07 | [2] | ($0.31) | [2] | $0.08 | [2] | $1.40 | [2] | $1.05 | [1],[2] | ($0.41) | [1],[2] | $0.05 | [1],[2] | $1.50 | [1],[2] | $1.08 | ($0.32) | $0.07 | $1.53 | $2.24 | $2.19 | $2.36 |
Earnings per share of common stock - diluted | $1.07 | [2] | ($0.31) | [2] | $0.08 | [2] | $1.40 | [2] | $1.04 | [1],[2] | ($0.41) | [1],[2] | $0.05 | [1],[2] | $1.50 | [1],[2] | $1.07 | ($0.32) | $0.07 | $1.53 | $2.24 | $2.18 | $2.36 |
[1] | Prior period balances have been adjusted for a prior period error identified during the first quarter of 2013. See Note 16 for reconciliation to amounts previously reported. | ||||||||||||||||||||||
[2] | Quarterly earnings (loss) per share are based upon the average number of common shares outstanding during each quarter. Variations in earnings between quarterly periods are due primarily to the seasonal nature of our business. |
Valuation_Allowances_and_Reser2
Valuation Allowances and Reserves (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Valuation Allowances and Reserves [Abstract] | ' | ' | ' | ' |
Allowance for Doubtful Accounts Receivable, Current | $1,656 | $2,518 | $2,895 | $2,950 |
Valuation Allowances and Reserves, Charged to Cost and Expense | 199 | 1,130 | 1,919 | ' |
Valuation Allowances and Reserves, Deductions | 1,061 | 1,507 | 1,974 | ' |
Valuation Allowances and Reserves, Charged to Other Accounts | $0 | $0 | $0 | ' |