ENB » Topics » NET PENSION PLAN AND OPEB COSTS

This excerpt taken from the ENB 6-K filed Nov 4, 2009.

NET PENSION PLAN AND OPEB COSTS

 

    Three months ended
September 30,
    Nine months ended
September 30,
 
(millions of Canadian dollars)   2009     2008     2009     2008  

Benefits earned during the period

  14.8      18.5      45.4      44.3   

Interest cost on projected benefit obligations

  20.0      17.9      60.6      53.5   

Expected return on plan assets

  (19.7   (23.2   (59.7   (69.0

Amortization of unrecognized amounts

  5.6      1.6      16.7      4.7   

Amount charged to Enbridge Energy Partners, L.P.

  (5.7   (2.6   (18.2   (7.5

Pension and OPEB Costs

  15.0      12.2      44.8      26.0   

The table reflects the pension and OPEB cost for all the Company’s benefit plans on an accrual basis. Prior to a change in accounting policy on January 1, 2009, the GD&S plans were accounted for on a cash basis. For costs related to the GD&S pension and OPEB plans, offsetting long-term regulatory assets and liabilities have also been recorded at September 30, 2009.

This excerpt taken from the ENB 6-K filed Jul 29, 2009.

NET PENSION PLAN AND OPEB COSTS

 

     Three months ended
June 30,
    Six months ended
June 30,
 
(millions of Canadian dollars)    2009     2008                2009     2008  

Benefits earned during the period

   15.0      12.1           30.6      25.8   

Interest cost on projected benefit obligations

   20.2      18.0           40.6      35.6   

Expected return on plan assets

   (19.9   (23.2        (40.0   (45.8

Amortization of unrecognized amounts

   5.5      1.2           11.1      3.1   

Amount charged to Enbridge Energy Partners, L.P.

   (6.0   (2.4            (12.5   (4.9

Pension and OPEB Costs

   14.8      5.7               29.8      13.8   

 

ENBRIDGE INC. SECOND QUARTER REPORT 2009    33


 

The table reflects the pension and OPEB cost for all the Company’s benefit plans on an accrual basis. For costs related to the GD&S pension and OPEB plans, offsetting long-term regulatory assets and liabilities have also been recorded at June 30, 2009. Prior to a change in accounting policy on January 1, 2009, the GD&S plans were accounted for on a cash basis. Using the cash basis for GD&S rate regulated plans and the accrual method for all other plans, the Company’s net pension and OPEB cost was $6.2 million and $14.2 million for the three and six months ended June 30, 2008.

This excerpt taken from the ENB 6-K filed May 7, 2009.

NET PENSION PLAN AND OPEB COSTS

 

     Three months ended March 31,    
(millions of Canadian dollars)    2009     2008            

Benefits earned during the period

   15.6     13.7      

Interest cost on projected benefit obligations

   20.4     17.6      

Expected return on plan assets

   (20.1 )   (22.6 )    

Amortization of unrecognized amounts

   5.6     1.9      

Amount charged to Enbridge Energy Partners, L.P.

   (6.5 )   (2.5 )        

Pension and OPEB Costs

   15.0     8.1          

The table reflects the pension and OPEB cost for all the Company’s benefit plans on an accrual basis. For the GD&S pension and OPEB plans, offsetting long-term regulatory assets and liabilities have also been recorded for the three months ended March 31, 2009. For the three months ended March 31, 2008, the resulting net pension and OPEB cost was $8.0 million.

This excerpt taken from the ENB 6-K filed Jul 31, 2008.

NET PENSION PLAN AND OPEB COSTS

   
Three months ended June 30,

 
Six months ended June 30,

 
(millions of Canadian dollars)   2008   2007   2008   2007  

 
Benefits earned during the period   12.1   13.0   25.8   26.4  
Interest cost on projected benefit obligations   18.0   16.9   35.6   34.0  
Expected return on plan assets   (23.2 ) (21.8 ) (45.8 ) (43.7 )
Amortization of unrecognized amounts   1.2   3.5   3.1   7.4  
Amount charged to Enbridge Energy Partners, L.P.   (2.4 ) (2.6 ) (4.9 ) (5.7 )

 
Pension and OPEB Costs   5.7   9.0   13.8   18.4  

 

The table reflects the pension and OPEB cost for all of the Company's benefit plans on an accrual basis. Using the cash basis for Gas Distribution and Services rate regulated plans and the accrual method for other plans, the Company's pension and OPEB cost was $6.2 million for the three months ended June 30, 2008 (2007 – $7.9 million) and $14.2 million for the six months ended June 30, 2008 (2007 – $15.4 million).

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