Alaska Airlines and Horizon Air 2013 Annual Report Download - page 160
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Combined Disclosures for Defined-Benefit Pension Plans
The following table sets forth the status of the plans as of December 31 (in millions):
Qualified Nonqualified
2013 2012 2013 2012
Projected benefit obligation (PBO)
Beginning of year .................................... $1,873 $1,594 $42 $43
Service cost ........................................ 46 38 11
Interest cost ........................................ 73 73 12
Actuarial (gain) loss .................................. (226) 214 (4) (2)
Benefits paid ....................................... (57) (46) (2) (2)
End of year ......................................... $1,709 $1,873 $38 $42
Plan assets at fair value
Beginning of year .................................... $1,538 $1,288 $— $—
Actual return on plan assets ........................... 205 186 ——
Employer contributions ................................ 83 110 22
Benefits paid ....................................... (57) (46) (2) (2)
End of year ......................................... $1,769 $1,538 $— $—
Funded status (unfunded) .............................. $60$ (335) $(38) $(42)
Percent funded ...................................... 104% 82% ——
The accumulated benefit obligation for the
combined qualified defined-benefit pension was
$1,603 million and $1,733 million at
December 31, 2013, and 2012, respectively.
The accumulated benefit obligation for the
nonqualified defined-benefit plan was $38 million
and $41 million at December 31, 2013 and
2012, respectively.
As of December 31, 2013 and 2012, the amounts recognized in the consolidated balance sheets were
as follows (in millions):
2013 2012
Qualified Nonqualified Qualified Nonqualified
Plan assets-long term (within long term Other Assets) ..... 60 — ——
Accrued benefit liability-current ....................... —2—2
Accrued benefit liability-long term...................... —36335 40
Total liability recognized ............................. —38335 42
AMOUNTS NOT YET REFLECTED IN NET PERIODIC BENEFIT COST AND INCLUDED IN AOCL:
2013 2012
Qualified Nonqualified Qualified Nonqualified
Prior service credit ................................. $ (14) $— $ (15) $—
Net loss ......................................... 331 5 695 9
Amount recognized in AOCL (pretax) .................... $317 $ 5 $680 $ 9
The expected amortization of prior service credit
and net loss from AOCL in 2014 is $1 million
and $13 million, respectively, for the qualified
defined-benefit pension plans. For the
nonqualified defined-benefit pension plans, the
expected combined amortization of prior service
cost and net loss from AOCL in 2014 is
immaterial.
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