Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62 Page 63 Page 64 Page 65 Page 66 Page 67 Page 68 Page 69 Page 70 Page 71 Page 72 Page 73 Page 74 Page 75 Page 76 Page 77 Page 78 Page 79 Page 80 Page 81 Page 82 Page 83 Page 84 Page 85 Page 86 Page 87 Page 88 Page 89 Page 90Seattle City Light 2015 Annual Report THE CITY OF SEATTLE—CITY LIGHT DEPARTMENT NOTES TO FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014 - 38 - ● Long-term interfund receivable for expected recoveries related to environmental costs covered under GASB Statement No. 49, Accounting and Financial Reporting for Pollution Remediation Obligations (see Note 11 Environmental Liabilities). ● Puget Sound Energy interconnection and substation costs are being amortized to expense over 25 years. ● Studies, surveys, and investigations are reported as regulatory assets until such time they result in active projects, or when it is determined no assets will result, at which time they are expensed. ● Long-term customer loans receivable and the remaining components of other assets, are not amortized. Regulatory assets and other assets, net, at December 31, 2015 and 2014, consisted of the following: ($ in millions) 2015 2014 Regulatory assets: Conservation costs—net 243.8 $ 228.1 $ Endangered Species Act costs—net 2.0 2.2 Environmental costs 31.2 34.5 277.0 264.8 Other charges and assets—net: Suburban infrastructure long-term receivables 53.7 43.1 Long-term interfund receivable for environmental costs 4.1 4.1 Long-term customer notes receivable 0.7 0.7 Puget Sound Energy interconnection and substation 0.4 0.6 Studies, surveys, and investigations 2.8 2.8 Other 0.8 3.6 62.5 54.9 Total Other Assets 339.5 $ 319.7 $ 7. DEFERRED OUTFLOWS OF RESOURCES Effective January 1, 2015, the Department adopted GASB Statement No. 68, Accounting and Financial Reporting for Pensions – an amendment of GASB Statement No. 27 and Statement No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date – an amendment of GASB Statement No. 68. GASB Statement Nos. 68 and 71 require that employer contributions made between the pension plan measurement date and the employer’s fiscal year end be recognized as deferred outflows of resources. Also to be recognized as deferred outflows of resources are losses resulting from differences between projected and actual earnings on plan investments, which are amortized over a closed five-year period, and losses related to differences between expected and actual experience with regard to economic or demographic factors in the measurement of total pension liability, which are 38