EMPLOYEE BENEFITS

6 Months Ended

Jun. 30, 2025

The following tables show the components of net periodic benefit cost (credit) (including amounts capitalized to our balance sheets) for our benefit plans.


	Pension Benefits
	Three Months Ended June 30				Six Months Ended June 30
(in millions)	2025		2024		2025		2024
Service cost	$	0.9	$	1.2	$	2.1	$	2.5
Interest cost	7.7		7.3		15.3		14.7
Expected return on plan assets	(12.4)		(12.8)		(24.8)		(25.5)

Amortization of net actuarial loss	0.9		4.3		5.2		8.6
Net periodic benefit cost (credit)	$	(2.9)	$	—	$	(2.2)	$	0.3


	OPEB Benefits
	Three Months Ended June 30				Six Months Ended June 30
(in millions)	2025		2024		2025		2024
Service cost	$	0.8	$	0.7	$	1.5	$	1.5
Interest cost	1.9		1.7		3.7		3.3
Expected return on plan assets	(4.5)		(4.4)		(9.0)		(8.7)
Amortization of prior service credit	(1.1)		(2.6)		(3.6)		(5.1)
Amortization of net actuarial loss	0.2		0.7		0.8		1.2
Net periodic benefit credit	$	(2.7)	$	(3.9)	$	(6.6)	$	(7.8)

During the six months ended June 30, 2025, we made contributions and payments of $0.3 million related to our pension plans and $0.4 million related to our OPEB plans. We expect to make contributions and payments of $0.2 million related to our pension plans and $0.5 million related to our OPEB plans during the remainder of 2025, dependent upon various factors affecting us, including our liquidity position and possible tax law changes.

Effective January 1, 2023, the PSCW approved escrow accounting for pension and OPEB costs. As of June 30, 2025 and December 31, 2024, our balance sheets included regulatory assets of $8.1 million and $12.9 million, respectively, for pension costs and $10.5 million and $14.6 million, respectively, for OPEB costs. In accordance with our December 2024 PSCW rate order, we began amortizing these regulatory assets in 2025. We continue to utilize escrow accounting for our current pension and OPEB costs. The above tables do not reflect any adjustments for the creation or amortization of these regulatory assets.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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+ Details

WISCONSIN PUBLIC SERVICE CORP 10-Q