Anthem Blue Cross 2000 Annual Report Download - page 21

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19
Anthem Insurance Companies, Inc.
Notes to Consolidated Financial Statements (continued)
13. Retirement Benefits (continued)
The reconciliation of the benefit obligation for the years ended December 31 is as follows:
Pension Benefits Other Benefits
2000 1999 2000 1999
Benefit obligation at beginning of year $ 471.8 $ 473.3 $ 117.1 $ 91.8
Service cost 27.3 26.6 1.3 2.1
Interest cost 36.6 31.4 8.4 6.2
Plan amendments (1.2) –(5.2) (13.5)
Actuarial (gain) loss 35.4 (47.9) (11.0) 9.1
Business combinations 50.8 73.2 9.0 28.9
Benefits paid (53.1) (84.8) (8.0) (7.5)
Benefit obligation at end of year $ 567.6 $ 471.8 $ 111.6 $ 117.1
The changes in plan assets were as follows:
Pension Benefits Other Benefits
2000 1999 2000 1999
Fair value of plan assets at beginning of year $ 557.5 $ 445.4 $ 23.2 $ 21.2
Actual return on plan assets 75.3 80.5 3.1 8.3
Employer contributions 30.0 37.0 1.2 1.2
Business combinations 40.9 79.4 4.6 –
Benefits paid (53.1) (84.8) (3.7) (7.5)
Fair value of plan assets at end of year $ 650.6 $ 557.5 $ 28.4 $ 23.2
The reconciliation of the funded status to the net benefit cost accrued is as follows:
Pension Benefits Other Benefits
2000 1999 2000 1999
Funded status $ 83.0 $ 85.7 $ (83.2) $ (93.9)
Unrecognized net gain (61.5) (68.7) (44.1) (33.1)
Unrecognized prior service cost (22.8) (24.9) (41.9) (43.3)
Unrecognized transition asset (1.0) (2.8) ––
Additional minimum liability (7.2) (1.2) ––
Accrued benefit cost at September 30 (9.5) (11.9) (169.2) (170.3)
Payments made after the measurement date 1.0 0.5 2.6 0.5
Accrued benefit cost at December 31 $ (8.5) $ (11.4) $ (166.6) $ (169.8)