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SEC Filings
10-K
PANHANDLE EASTERN PIPE LINE CO LP filed this Form 10-K on 02/23/2018
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Obligations and Funded Status
Other postretirement benefit liabilities are accrued on an actuarial basis during the years an employee provides services.  The following tables contain information at the dates indicated about the obligations and funded status of the Company’s other postretirement plans.
 
December 31,
 
2017
 
2016
Change in benefit obligation:
 
 
 
Benefit obligation at beginning of period
$
19

 
$
21

Interest cost
1

 
1

Amendments
8

 

Actuarial gain
(1
)
 
(1
)
Benefits paid, net
(2
)
 
(2
)
Benefit obligation at end of period
$
25

 
$
19

Change in plan assets:
 
 
 
Fair value of plan assets at beginning of period
$
126

 
$
118

Return on plan assets and other
11

 
2

Employer contributions
8

 
8

Benefits paid, net
(2
)
 
(2
)
Fair value of plan assets at end of period
$
143

 
$
126

 
 
 
 
Amount overfunded at end of period (1)
$
118

 
$
107

 
 
 
 
Amounts recognized in accumulated other comprehensive income (pre-tax basis) consist of:
 
 
 
Net actuarial gain
$
(13
)
 
$
(7
)
Prior service cost
20

 
14

 
$
7

 
$
7

(1) 
Recorded as a non-current asset in the consolidated balance sheets.
Components of Net Periodic Benefit Cost
The following tables set forth the components of net periodic benefit cost of the Company’s postretirement benefit plan for the periods presented:
 
Years Ended December 31,
 
2017
 
2016
 
2015
Interest cost
$
1

 
$
1

 
$
1

Expected return on plan assets
(7
)
 
(6
)
 
(6
)
Prior service credit amortization
1

 
1

 
1

Actuarial loss amortization

 
(1
)
 
(1
)
Net periodic benefit cost
$
(5
)
 
$
(5
)
 
$
(5
)
The estimated prior service cost for other postretirement plans that will be amortized from accumulated other comprehensive income into net periodic benefit cost during 2017 is $1 million.
Assumptions.  The weighted-average discount rate used in determining benefit obligations was 3.75% and 3.71% at December 31, 2017 and 2016, respectively.

F - 17

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