Benefit Plans and Other Postretirement Benefits (Tables)

6 Months Ended

Jun. 30, 2025


	Three Months Ended June 30
	2025		2024
(Millions of Dollars)	Pension Benefits
Service cost	$	1	$	1
Interest cost (a)	1		1
Expected return on plan assets (a)	(2)		(2)

Amortization of net loss (a)	—		1
Settlement charge (b)	—		5
Net periodic benefit cost	—		6
Effects of regulation	1		(2)
Net benefit cost recognized for financial reporting	$	1	$	4


	Six Months Ended June 30
	2025		2024
(Millions of Dollars)	Pension Benefits
Service cost	$	2	$	2
Interest cost (a)	2		3
Expected return on plan assets (a)	(4)		(4)

Amortization of net loss (a)	—		1
Settlement charge (b)	—		5
Net periodic benefit cost	—		7
Effects of regulation	1		(2)
Net benefit cost recognized for financial reporting	$	1	$	5

(a)The components of net periodic cost other than the service cost component are included in the consolidated statements of income or capitalized on the consolidated balance sheets as a regulatory asset.

(b)A settlement charge is required when the amount of lump-sum distributions during the year is greater than the sum of the service and interest cost components of the annual net periodic pension cost. In the second quarter of 2024, as a result of lump-sum distributions during the 2024 plan year, NSP-Wisconsin recorded a pension settlement charge of $5 million, of which $1 million was recognized in the consolidated statement of income after considering the effects of regulation.

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[1]

A settlement charge is required when the amount of lump-sum distributions during the year is greater than the sum of the service and interest cost components of the annual net periodic pension cost. In the second quarter of 2024, as a result of lump-sum distributions during the 2024 plan year, NSP-Wisconsin recorded a pension settlement charge of $5 million, of which $1 million was recognized in the consolidated statement of income after considering the effects of regulation.