Alaska Airlines and Horizon Air 2014 Annual Report Download - page 169
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The following table sets forth the status of the qualified defined-benefit pension plans (in millions):
2014 2013
Projected benefit obligation (PBO)
Beginning of year $ 1,709 $ 1,873
Service cost 33 46
Interest cost 81 73
Plan settlement ––
Actuarial (gain) loss 298 (226)
Benefits paid (71) (57)
End of year $ 2,050 $ 1,709
Plan assets at fair value
Beginning of year $ 1,769 $ 1,538
Actual return on plan assets 219 205
Employer contributions –83
Plan settlements ––
Benefits paid (71) (57)
End of year $ 1,917 $ 1,769
Funded status (unfunded) $ (133) $60
Percent funded 94% 104%
The accumulated benefit obligation for the combined qualified defined-benefit pension was $1.9 billion
and $1.6 billion at December 31, 2014, and 2013, respectively.
The amounts recognized in the consolidated balance sheets (in millions):
2014 2013
Plan assets-long term (within long term Other Assets) $–$60
Accrued benefit liability-long term 133 –
Total liability recognized $ 133 $–
The amounts not yet reflected in net periodic benefit cost and included in AOCL:
2014 2013
Prior service credit $ (12) $ (14)
Net loss 514 331
Amount recognized in AOCL (pretax) $ 502 $ 317
The expected amortization of prior service credit and net loss from AOCL in 2015 is $1 million and $26
million, respectively, for the qualified defined-benefit pension plans.
85
ŠForm 10-K