DIRECTV 2003 Annual Report Download - page 97

THE DIRECTV GROUP, INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS — (continued)
The components of the pension benefit obligation and the other postretirement benefit obligation, including
amounts recognized in the Consolidated Balance Sheets, are shown below for the years ended December 31:
Pension Benefits
Other
Postretirement
Benefits
2003 2002 2003 2002
(Dollars in Millions)
Change in Benefit Obligation
Net benefit obligation at beginning of year ........................... $497.0 $ 455.9 $ 33.3 $ 27.6
Servicecost ................................................... 23.0 21.7 0.5 0.5
Interest cost ................................................... 35.4 33.8 1.9 2.2
Plan participants’ contributions .................................... 1.9 1.9 — —
Amendments .................................................. — — (4.6) —
Actuarial (gain) loss ............................................ 52.1 26.4 (0.4) 5.7
Benefits paid .................................................. (43.8) (42.7) (3.5) (2.7)
Net benefit obligation at end of year ................................ 565.6 497.0 27.2 33.3
Change in Plan Assets
Fair value of plan assets at beginning of year ......................... 361.5 416.0 — —
Actual return on plan assets ....................................... 47.6 (21.6) — —
Employercontributions .......................................... 10.3 7.9 3.5 2.7
Plan participants’ contributions .................................... 1.9 1.9 — —
Benefits paid .................................................. (43.8) (42.7) (3.5) (2.7)
Fair value of plan assets at end of year .............................. 377.5 361.5 — —
Funded status at end of year ...................................... (188.1) (135.5) (27.2) (33.3)
Unamortized amount resulting from changes in plan provisions ...... 18.8 21.0 (4.6) —
Unamortized net amount resulting from changes in plan experience
and actuarial assumptions .................................. 139.7 107.1 (1.2) (0.8)
Net amount recognized at end of year ....................... $ (29.6) $ (7.4) $(33.0) $(34.1)
Amounts recognized in the consolidated balance sheets consist of:
Prepaid benefit cost ......................................... $ 0.6 $ 0.5
Accrued benefit cost ........................................ (127.6) (83.1) $(33.0) $(34.1)
Intangible asset ............................................ 18.8 21.0 — —
Deferred tax assets .......................................... 29.8 21.9 — —
Accumulated other comprehensive loss ......................... 48.8 32.3 — —
Net amount recognized at end of year ....................... $ (29.6) $ (7.4) $(33.0) $(34.1)
The accumulated benefit obligation for all pension plans was $503.8 million and $443.3 million as of
December 31, 2003 and 2002, respectively.
Information for pension plans with an accumulated benefit obligation in excess of plan assets at
December 31:
2003 2002
(Dollars in Millions)
Projected benefit obligation .................................................. $561.8 $493.5
Accumulated benefit obligation ............................................... 500.4 440.1
Fair value of plan assets ..................................................... 372.8 357.1
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