10-K - SCANA Corporation

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Table of Contents Funded Status Other Pension Postretirement Millions of Dollars Benefits Benefits December 31, 2011 2010 2011 2010 Fair value of plan assets $ 755.0 $ 817.2 — — Benefit obligations 830.1 811.8 $ 226.1 $ 213.5 Funded status - asset (liability) $ (75.1) $ 5.4 $ (226.1) $ (213.5) Amounts recognized on the consolidated balance sheets consist of: Other Pension Postretirement Millions of Dollars Benefits Benefits December 31, 2011 2010 2011 2010 Noncurrent asset — $ 5.4 — — Current liability — — $ (10.5) $ (11.4) Noncurrent liability $ (75.1) — (215.6) (202.1) Amounts recognized in accumulated other comprehensive income (a component of common equity) as of December 31, 2011 and 2010 were as follows: Other Pension Postretirement Millions of Dollars Benefits Benefits December 31, 2011 2010 2011 2010 Net actuarial loss $ 9.6 $ 7.1 $ 1.7 $ 1.3 Prior service cost 1.2 1.4 0.1 0.2 Transition obligation — — 0.2 0.3 Total $ 10.8 $ 8.5 $ 2.0 $ 1.8 In connection with the joint ownership of Summer Station, as of December 31, 2011 and 2010, the Company recorded within deferred debits $19.7 million and $13.0 million, respectively, attributable to Santee Cooper’s portion of shared pension costs. As of December 31, 2011 and 2010, the Company also recorded within deferred debits $11.4 million and $10.7 million, respectively, from Santee Cooper, representing its portion of the unfunded net postretirement benefit obligation. Changes in Fair Value of Plan Assets Pension Benefits Millions of dollars 2011 2010 Fair value of plan assets, January 1 $ 817.2 $ 758.9 Actual return on plan assets (18.3) 96.7 Benefits paid (43.9) (38.4) Fair value of plan assets, December 31 $ 755.0 $ 817.2 Investment Policies and Strategies The assets of the pension plan are invested in accordance with the objectives of (1) fully funding the actuarial accrued liability for the pension plan, (2) maximizing return within reasonable and prudent levels of risk in order to minimize contributions, and (3) maintaining sufficient liquidity to meet benefit payment obligations on a timely basis. The pension plan operates with several risk and control procedures, including ongoing reviews of liabilities, investment objectives, investment managers and performance expectations. Transactions involving certain types of investments are prohibited. Equity securities held by the pension plan during the periods presented did not include SCANA common stock. 78
Table of Contents The Company’s pension plan asset allocation at December 31, 2011 and 2010 and the target allocation for 2012 are as follows: For 2012, the expected long-term rate of return on assets will be 8.25%. In developing the expected long-term rate of return assumptions, management evaluates the pension plan’s historical cumulative actual returns over several periods, and assumes an asset allocation of 65% with equity managers and 35% with fixed income managers. Management regularly reviews such allocations and periodically rebalances the portfolio when considered appropriate. Fair Value Measurements Percentage of Plan Assets Target At Allocation December 31, Asset Category 2012 2011 2010 Equity Securities 65% 65% 68% Debt Securities 35% 35% 32% Assets held by the pension plan are measured at fair value as described below. Assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. At December 31, 2011 and 2010, fair value measurements, and the level within the fair value hierarchy in which the measurements fall, were as follows: 79 Fair Value Measurements at Reporting Date Using Significant Other Observable Inputs (Level 2) Quoted Market Prices in Active Market for Identical Assets/Liabilities (Level 1) Significant Other Unobservable Inputs (Level 3) Millions of dollars Total December 31, 2011 Common stock $ 324 $ 324 Preferred stock 1 1 Mutual funds 183 20 $ 163 Short-term investment vehicles 23 23 Government agency securities 32 32 Corporate debt securities 51 51 Loans secured by mortgages 12 12 Municipals 4 4 Common collective trusts 37 37 Limited partnerships 23 23 Multi-strategy hedge funds 65 $ 65 $ 755 $ 345 $ 345 $ 65 December 31, 2010 Common stock $ 363 $ 363 Mutual funds 206 25 $ 181 Short-term investment vehicles 18 18 Government agency securities 51 51 Corporate debt securities 51 51 Loans secured by mortgages 9 9 Municipals 3 3 Common collective trusts 45 45 Limited partnerships 26 1 25 Multi-strategy hedge funds 45 $ 45 $ 817 $ 389 $ 383 $ 45
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Table of Contents UNITED STATES SEC
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Table of Contents CAUTIONARY STATEM
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Table of Contents TERM MEANING MGP
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Table of Contents Regulated Utiliti
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Table of Contents Electric Intercon
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Table of Contents Gas Cost, Supply
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Table of Contents SCE&G holds licen
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Table of Contents PSNC Energy’s r
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Table of Contents Furthermore, rece
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Table of Contents One rating agency
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Table of Contents • Uncertainties
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Table of Contents ELECTRIC PROPERTI
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Table of Contents Litigation In May
Page 27 and 28: Table of Contents PART II ITEM 5. M
Page 29 and 30: Table of Contents SCANA CORPORATION
Page 31 and 32: Table of Contents Key Earnings Driv
Page 33 and 34: Table of Contents Retail Gas Market
Page 35 and 36: Table of Contents • 2010 vs 2009
Page 39 and 40: Table of Contents The Company’s c
Page 41 and 42: Table of Contents With respect to h
Page 43 and 44: Table of Contents Air Quality With
Page 45 and 46: Table of Contents Electric Operatio
Page 47 and 48: Table of Contents the effects of di
Page 49 and 50: Table of Contents substantial compl
Page 51 and 52: Table of Contents ITEM 7A. QUANTITA
Page 53 and 54: Table of Contents ITEM 8. FINANCIAL
Page 55 and 56: Table of Contents See Notes to Cons
Page 59 and 60: Table of Contents NOTES TO CONSOLID
Page 61 and 62: Table of Contents costs for turbine
Page 63 and 64: Table of Contents Fuel costs, emiss
Page 65 and 66: Table of Contents In May 2009, two
Page 67 and 68: Table of Contents Accumulated defer
Page 69 and 70: Table of Contents SCANA issued comm
Page 71 and 72: Table of Contents The difference be
Page 73 and 74: Table of Contents losses from its h
Page 75 and 76: Table of Contents The effect of der
Page 77: Table of Contents 8. EMPLOYEE BENEF
Page 81 and 82: Table of Contents Net Periodic Bene
Page 83 and 84: Table of Contents Equity Awards In
Page 85 and 86: Table of Contents SCE&G maintains a
Page 87 and 88: Table of Contents 11. AFFILIATED TR
Page 89 and 90: Table of Contents 13. QUARTERLY FIN
Page 91 and 92: Table of Contents ITEM 7. MANAGEMEN
Page 93 and 94: Table of Contents retain large comm
Page 97 and 98: Table of Contents regulations, will
Page 99 and 100: Table of Contents on its draws, whi
Page 101 and 102: Table of Contents To help mitigate
Page 103 and 104: Table of Contents The RSA allows na
Page 105 and 106: Table of Contents site of Summer St
Page 107 and 108: Table of Contents ITEM 7A. QUANTITA
Page 109 and 110: Table of Contents ITEM 8. FINANCIAL
Page 111 and 112: Table of Contents December 31, (Mil
Page 115 and 116: Table of Contents NOTES TO CONSOLID
Page 117 and 118: Table of Contents $32.7 million, of
Page 119 and 120: Table of Contents 2. RATE AND OTHER
Page 121 and 122: Table of Contents Regulatory Assets
Page 123 and 124: Table of Contents 4. LONG-TERM AND
Page 125 and 126: Table of Contents The tax effects o
Page 127 and 128: Table of Contents The fair value of
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Table of Contents 8. EMPLOYEE BENEF
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Table of Contents The pension plan
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Table of Contents Net Periodic Bene
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Table of Contents Nonvested shares
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Table of Contents Claims and Litiga
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Table of Contents Disclosure of Rep
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Table of Contents ITEM 9. CHANGES I
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Table of Contents SCE&G: Evaluation
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Table of Contents ITEM 14. PRINCIPA
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Table of Contents Schedule II—Val
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Table of Contents SIGNATURES Pursua
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Table of Contents Applicable to Exh
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Exhibit 12.01 SCANA CORPORATION CAL
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Exhibit 23.01 CONSENT OF INDEPENDEN
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Exhibit 24.01 POWER OF ATTORNEY KNO
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Exhibit 31.01 CERTIFICATION I, Kevi
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Exhibit 31.03 CERTIFICATION I, Kevi
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Exhibit 32.01 SCANA CORPORATION CER
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Exhibit 32.03 SOUTH CAROLINA ELECTR
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scg-20111231.xml
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scg-20111231_cal.xml
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scg-20111231_pre.xml
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10-K - SCANA Corporation

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