Comcast 2011 Annual Report Download - page 111

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2011 2010 2009
Year ended December 31 (in millions)
Postretirement
Benefits
Pension
Benefits
Postretirement
Benefits
Postretirement
Benefits
Service cost $19 $ 99 $31 $27
Interest cost 30 12 21 20
Amortization (2) — (2) (2)
Total benefits expense $ 47 $ 111 $50 $45
Expected Future Benefit Payments
(in millions)
Postretirement
Benefits
Pension
Benefits
2012 $14 $ 9
2013 $16 $11
2014 $19 $13
2015 $21 $16
2016 $23 $19
2017 - 2021 $ 148 $ 183
We also sponsor a qualified and a nonqualified pension plan that together provide benefits to former AT&T
Broadband employees. Future benefits for both plans have been frozen. On December 30, 2011, we provided
notice to plan participants of our intent to terminate the qualified pension plan effective February 29, 2012.
We will seek approval from both the Internal Revenue Service (“IRS”) and Pension Benefit Guaranty Corpo-
ration before settling the plan. It is expected that final approval will be received in 2013, at which point we will
fully fund the plan and settle all plan obligations.
The table below provides condensed information on our frozen pension benefit plans.
Year ended December 31 (in millions) 2011 2010 2009
Benefit obligation $ 211 $ 197 $ 184
Fair value of plan assets $ 176 $ 183 $ 176
Plan funded status and recorded benefit obligation $ (35) $ (14) $ (8)
Portion of benefit obligation not yet recognized in benefit expense $66 $51 $46
Benefits expense $6 $1 $2
Discount rate 4.75% 5.25% 5.75%
Expected return on plan assets 6.50% 8.00% 8.00%
Other Employee Benefits
Multiemployer Benefit Plans
We also participate in various multiemployer pension and other benefit plans covering some of our employees
who are represented by labor unions. We make periodic contributions to these plans in accordance with the
terms of applicable collective bargaining agreements and laws but do not sponsor or administer these plans.
We do not participate in any multiemployer benefit plans where we consider our contributions to be
individually significant and the largest plans in which we participate are funded at a level of 80 percent or
greater. The total contributions we made to multiemployer benefit plans were $42 million during 2011.
109 Comcast 2011 Annual Report on Form 10-K