Cincinnati Bell 2014 Annual Report Download - page 103
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Table of Contents
Form 10-K Part II
Cincinnati Bell Inc.
The following are the weighted-average assumptions used in accounting for and measuring the projected benefit obligations:
Discount rate 3.40%
4.20%
3.40%
4.10%
Expected long-term rate of return 7.75%
7.75%
—
—
Future compensation growth rate —
—
—
—
The assumed healthcare cost trend rate used to measure the postretirement health benefit obligation is shown below:
Healthcare cost trend 6.5%
6.5%
Rate to which the cost trend is assumed to decline (ultimate trend rate) 4.5%
4.5%
Year the rates reach the ultimate trend rate 2018
2017
A one-percentage point change in assumed healthcare cost trend rates would have the following effect on the postretirement benefit costs and obligation:
Service and interest costs for 2014 $ 0.2
$ (0.1)
Postretirement benefit obligation at December 31, 2014 5.0
(4.5)
The projected benefit obligation is recognized in the Consolidated Balance Sheets as follows:
Accrued payroll and benefits (current liability) $ 2.2
$ 2.1
$ 12.0
$ 12.7
Pension and postretirement benefit obligations (noncurrent liability) 150.8
121.6
86.0
77.5
Total $ 153.0
$ 123.7
$ 98.0
$ 90.2
Amounts recognized in "Accumulated other comprehensive loss" in the Consolidated Balance Sheets which have not yet been recognized in net pension
costs consisted of the following:
Prior service (cost) benefit, net of tax of ($0.2), ($0.3), $21.3, $26.8 $ (0.5)
$ (0.6)
$ 38.5
$ 48.4
Actuarial loss, net of tax of ($91.5), ($77.2), ($29.3), ($26.6) (160.7)
(134.8)
(50.9)
(46.1)
Total $ (161.2)
$ (135.4)
$ (12.4)
$ 2.3
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