Boeing 2011 Annual Report Download - page 97
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The following tables show changes in the benefit obligation, plan assets and funded status of both
pensions and OPB for the years ended December 31, 2011 and 2010. Benefit obligation balances
presented below reflect the PBO for our pension plans, and accumulated postretirement benefit
obligations (APBO) for our OPB plans.
Pension
Other
Postretirement
Benefits
2011 2010 2011 2010
Change in benefit obligation
Beginning balance $ 59,106 $52,166 $ 8,546 $ 7,576
Service cost 1,406 1,176 221 121
Interest cost 3,116 3,002 484 404
Plan participants’ contributions 99
Amendments 186 142 (719) (130)
Actuarial (gain)/loss 6,586 5,243 (63) 1,061
Settlement/curtailment/acquisitions/dispositions, net (104) (93) 332
Gross benefits paid (2,644) (2,567) (503) (555)
Medicare Part D subsidy 31 31
Exchange rate adjustment (10) 28 (3) 6
Ending balance $ 67,651 $59,106 $ 7,997 $ 8,546
Change in plan assets
Beginning balance at fair value $ 49,252 $45,810 $ 98 $ 89
Actual return on plan assets 3,953 5,979 411
Company contribution 531 35 17 15
Plan participants’ contributions 9932
Settlement/curtailment/acquisitions/dispositions, net (104) (98)
Benefits paid (2,581) (2,507) (20) (19)
Exchange rate adjustment (9) 24
Ending balance at fair value $ 51,051 $49,252 $ 102 $ 98
Amounts recognized in Consolidated Statement of
Financial Position at December 31 consist of:
Pension plan assets, net $1$6
Other accrued liabilities (64) (60) $ (375) $ (423)
Accrued retiree health care (7,520) (8,025)
Accrued pension plan liability, net (16,537) (9,800)
Net amount recognized $(16,600) $ (9,854) $(7,895) $(8,448)
Amounts recognized in Accumulated other comprehensive loss at December 31 are as follows:
Pension
Other
Postretirement
Benefits
2011 2010 2011 2010
Net actuarial loss $24,448 $19,343 $ 1,885 $2,148
Prior service cost/(credit) 1,118 1,225 (1,008) (384)
Total recognized in Accumulated other comprehensive loss $25,566 $20,568 $ 877 $1,764
85