Cablevision 2014 Annual Report Download - page 140

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COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(Dollars in thousands, except share and per share amounts)
F-51
Plan Results for Defined Benefit Plans
Summarized below is the funded status and the amounts recorded on the Company's consolidated balance sheets for all of the
Company's Defined Benefit Plans at December 31, 2014 and 2013:
December 31,
2014 2013
Change in projected benefit obligation:
Projected benefit obligation at beginning of year ............................................................................ $ 433,916 $ 392,312
Service cost ...................................................................................................................................... 774 45,346
Interest cost ...................................................................................................................................... 18,040 14,128
Actuarial loss.................................................................................................................................... 9,006 5,282
Transfer of liabilities........................................................................................................................ — (208)
Benefits paid..................................................................................................................................... (30,890)(22,944)
Projected benefit obligation at end of year.................................................................................. 430,846 433,916
Change in plan assets:
Fair value of plan assets at beginning of year.................................................................................. 268,610 290,836
Actual return (loss) on plan assets, net............................................................................................. 11,687 (8,694)
Employer contributions.................................................................................................................... 54,269 9,620
Transfer of assets.............................................................................................................................. — (208)
Benefits paid..................................................................................................................................... (30,890)(22,944)
Fair value of plan assets at end of year........................................................................................ 303,676 268,610
Unfunded status at end of year ........................................................................................................... $ (127,170) $ (165,306)
Other changes in plan assets and benefit obligations recorded in accumulated other comprehensive loss for the years ended
December 31, 2014 and 2013 are as follows:
Defined Benefit Plans
Changes in plan assets and benefit obligations, before taxes: 2014 2013 2012
Unrecognized actuarial loss.................................................................................................. $ 6,866 $21,842 $16,732
Tax expense (benefit)............................................................................................................ (2,815)(8,984)(6,848)
4,051 12,858 9,884
Amortization of actuarial losses, net included in net periodic benefit cost.......................... (2,364)(1,645)(1,067)
Tax expense (benefit)............................................................................................................ 969 677 437
(1,395)(968)(630)
Settlement loss included in net periodic benefit cost............................................................ (5,348) — —
Tax expense (benefit)............................................................................................................ 2,193 — —
(3,155) — —
Changes in plan assets and benefit obligations, net of taxes ...................................................... $(499) $11,890 $ 9,254
The accumulated benefit obligation for the Company's Defined Benefit Plans aggregated $430,846 and $433,916 at December 31,
2014 and 2013, respectively.
Approximately $2,239 of unrecognized actuarial losses recorded in accumulated other comprehensive loss is expected to be
recognized as a component of net periodic benefit cost during 2015 relating to the Defined Benefit Plans.
The Company's net funded status relating to its defined benefit plans at December 31, 2014 and 2013 are as follows: