Capital One 2006 Annual Report Download - page 110
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92
The following table sets forth, on an aggregated basis, changes in the benefit obligations and plan assets, how the funded
status is recognized in the balance sheet, and the components of net periodic benefit cost.
Pension Benefits
2006
Postretirement
Benefits
2006
Change in benefit obligation:
Benefit obligation at beginning of year $ 7,597 $ 47,989
Service cost 1,087 6,942
Interest cost 1,347 2,708
Benefits paid (3,450) (1,430)
Benefit obligation assumed through acquisition 214,478 33,248
Actuarial loss (318) (5,247)
Benefit obligation at end of year $ 220,741 $ 84,210
Change in plan assets:
Fair value of plan assets t beginning of year $ 5,528 $
Actual return on plan assets 2,344 46
Employer contributions 129 149
Plan assets acquired through acquisition 299,175 7,636
Benefits paid (3,450) (149)
Fair value of plan assets at end of year $ 303,726 $ 7,682
Funded status at end of year $ 82,985 $ (76,528)
Balance Sheet Presentation:
Other assets $ 96,191 $
Other liabilities (13,206) (76,528)
Net amount recognized at end of year $ 82,985 $ (76,528)
Accumulated benefit obligation at end of year $ 213,061 n/a
Components of net periodic benefit cost:
Service cost $ 1,087 $ 6,942
Interest cost 1,347 2,708
Expected return on plan assets (2,223) (46)
Amortization of transition obligation, prior service credit, and
net actuarial loss 175 (3,711)
Net periodic benefit cost $ 386 $ 5,893
The following table sets forth the aggregate benefit obligation and aggregate fair value of plan assets for plans with benefit
obligations in excess of plan assets. Based on the status of the Companys pension plans, the information presented also
represents the aggregate pension accumulated benefit obligation and aggregate fair value of plan assets for pension plans with
accumulated benefit obligations in excess of plan assets.
Pension Benefits
Postretirement
Benefits
2006 2006
Benefit obligation 17,704 84,210
Fair value of plan assets 4,498 7,682