CHS 2013 Annual Report Download - page 45

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8NOV201319003221
Change in plan assets:
Fair value of plan assets at beginning of period $ 688,196 $ 540,822
Actual gain on plan assets 53,582 50,515
Company contributions 23,800 28,000 $ 1,785 $ 1,334 $ 2,014 $ 2,035
Transfers in from Agriliance Employee Retirement Plan 97,210
Benefits paid (34,950) (28,351) (1,785) (1,334) (2,014) (2,035)
Fair value of plan assets at end of period $ 730,628 $ 688,196 $ — $ — $ — $ —
Funded status at end of period $ 89,344 $ 17,130 $ (36,225) $ (34,470) $ (45,542) $ (64,189)
Amounts recognized on balance sheet:
Non-current assets $ 89,930 $ 17,695
Accrued benefit cost:
Current liabilities $ (3,051) $ (3,325) $ (2,919) $ (3,297)
Non-current liabilities (586) (565) (33,174) (31,145) (42,623) (60,892)
Ending balance $ 89,344 $ 17,130 $ (36,225) $ (34,470) $ (45,542) $ (64,189)
Amounts recognized in accumulated other comprehensive loss (pretax):
Net transition obligation $ 563
Prior service cost (credit) $ 7,794 $ 9,392 $ 1,088 $ 1,316 $ (712) (17)
Net loss (gain) 253,288 331,420 10,685 10,104 (5,415) 683
Ending balance $ 261,082 $ 340,812 $ 11,773 $ 11,420 $ (6,127) $ 1,229
The accumulated benefit obligation of the qualified pension plans was $605.6 million and $628.5 million at August 31,
2013 and 2012, respectively. The accumulated benefit obligation of the non-qualified pension plans was $20.1 million
and $19.7 million at August 31, 2013 and 2012, respectively.
50 CHS 2013
Benefit Plans
We have various pension and other defined benefit and defined contribution plans, in which substantially all
employees may participate. We also have non-qualified supplemental executive and Board retirement plans.
Financial information on changes in benefit obligation and plan assets funded and balance sheets status as of
August 31, 2013 and 2012 is as follows:
QUALIFIED NON-QUALIFIED
PENSION BENEFITS PENSION BENEFITS OTHER BENEFITS
(DOLLARS IN THOUSANDS) 2013 2012 2013 2012 2013 2012
Change in benefit obligation:
Benefit obligation at beginning of period $ 671,066 $ 501,053 $ 34,470 $ 29,728 $ 64,189 $ 56,864
Service cost 31,387 26,010 721 279 2,936 2,556
Interest cost 25,445 24,119 1,316 1,343 2,275 2,638
Transfers in from Agriliance Employee Retirement Plan 84,498
Actuarial loss (gain) 12,819 982 3,455 2,498 (5,243) (1,997)
Assumption change (64,483) 62,755 (1,952) 1,956 (16,693) 6,437
Plan amendments (899)
Medicare D 92 625
Benefits paid (34,950) (28,351) (1,785) (1,334) (2,014) (2,035)
Benefit obligation at end of period $ 641,284 $ 671,066 $ 36,225 $ 34,470 $ 45,542 $ 64,189