 |
 |
| Notes
to Consolidated Financial Statements | | |
|
|
|
| | | | | | | | | | | |
| Note 20 – Postretirement Plans |
| The following table reconciles the funded status of both pensions and other
postretirement benefits (OPB), principally retiree health care, to the balance
on the Consolidated Statements of Financial Position. Plan assets consist primarily
of equities, fixed income obligations and cash equivalents. The pension benefit
obligations and plan assets shown in the table are valued as of September 30. |
| |
| | Pensions | Other
Postretirement
Benefits | |
 | |
| | | 2001 | | 2000 | | 2001 | | 2000 | |
| |
| Benefit Obligation | | Beginning
balance | | Service cost |
| Interest cost | | Plan
participants’ contributions | | Amendments
| | Actuarial loss (gain)
| | Acquisitions/dispositions,
net | | Benefits paid |
| |
| |
| $29,102 | | 591 |
| 2,187 | | 12 |
| 188 | | 2,562 |
| | | (1,949) |
| |
| |
| $ 27,621 | | 636 |
| 2,079 | | 1 |
| 196 | | (666) |
| 1,160 | | (1,925) |
| |
| |
| $ 6,268 |
| 132 | | 478 |
| | | 73 |
| 258 | | (34) |
| (375) | | |
| |
| $ 5,569 | | 138 |
| 418 | | |
| (178) | | 539 |
| 129 | | (347) | | |
 | |
| Ending balance | | $32,693 | | $ 29,102 | | $ 6,800 | | $ 6,268 | |
| |
| Plan Assets – Fair Value | | | | | | | | | |
| |
| Beginning balance | | Acquisitions/dispositions,
net | | Actual return on plan
assets | | Company contribution
| | Plan participants’
contributions | | Benefits
paid | | Exchange
rate adjustment | | |
| $42,856 |
| 6 | | (7,150) |
| 19 | | 12 |
| (1,918) | | (15) |
| |
| $ 37,026 |
| 1,684 | | 6,022 |
| 30 | | 1 |
| (1,898) | | (9) |
| |
| |
| |
| |
| Ending balance | | $33,810 | | $ 42,856 | | $ 39 | | $ 30 | |
| |
| Reconciliation of Funded Status to Net
Amounts Recognized | | | | | | | | | |
| |
| Funded status – plan assets in excess of |
| (less than) projected benefit obligation
| | Unrecognized net actuarial loss (gain) |
| Unrecognized prior service costs | | Unrecognized
net transition assets | | Adjustment
for fourth quarter contributions | | |
| |
| $ 1,117 |
| 2,897 | | 1,465 |
| (5) | | 7 |
| |
| |
| $ 13,754 | | (10,652) |
| 1,427 | | (30) |
| 8 | | |
| |
| |
| |
| Net amount recognized | | $ 5,481 | | $ 4,507 | | $(5,367) | | $(5,163) | |
| |
| Amount Recognized in Statements of Financial
Position | | | | | | | | | |
| |
| Prepaid benefit cost | | Intangible
asset | | Accumulated other comprehensive income |
| Accrued benefit liability | | |
| |
| |
| |
| |
| |
| Net amount recognized | | $ 5,481 | | $ 4,507 | | $(5,367) | | $(5,163) | |
| |
| Components of net periodic benefit costs and
other supplemental information were as follows: | |
| Year ended December 31, | | 2001 | | 2000 | 1999 | |
| |
| Components of net periodic benefit cost – Pensions |
| Service cost | | Interest
cost | | |
| |
| | |
| Expected return on plan assets | | Amortization
of transition asset | | Amortization of prior
service cost | | Recognized net actuarial loss
(gain) | | |
| |
|
| |
| |
| Net periodic benefit income | | $ (920) | | $ (428) | $ (125) | |
| |
| |
| | | |
