DIRECTV 2005 Annual Report Download - page 105
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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:
Other
Postretirement
Pension Benefits Benefits
2005 2004 2005 2004
(Dollars in Millions)
Change in Net Benefit Obligation
Net benefit obligation at beginning of year ................. $532.9 $ 565.6 $ 27.9 $ 27.2
Service cost ........................................ 17.6 24.2 0.4 0.5
Interest cost ........................................ 28.0 33.8 1.6 1.6
Plan participants’ contributions .......................... 0.9 1.6 — —
Special termination benefits ............................ 7.9 36.5 — —
Actuarial loss (gain) .................................. 13.2 (12.9) 0.6 2.4
Benefits paid ....................................... (112.4) (115.9) (3.1) (3.8)
Net benefit obligation at end of year ...................... 488.1 532.9 26.2 27.9
Change in Plan Assets
Fair value of plan assets at beginning of year ................ 347.4 377.5 — —
Actual return on plan assets ............................ 29.9 37.1 — —
Employer contributions ................................ 90.1 47.1 3.1 3.8
Plan participants’ contributions .......................... 0.9 1.6 — —
Benefits paid ....................................... (112.4) (115.9) (3.1) (3.8)
Fair value of plan assets at end of year .................... 355.9 347.4 — —
Funded status at end of year ............................ (132.2) (185.5) (26.2) (27.9)
Unamortized amount resulting from changes in plan
provisions .................................... 9.8 11.5 (2.8) (4.0)
Unamortized net amount resulting from changes in plan
experience and actuarial assumptions ................. 89.8 100.4 0.6 1.3
Net liability at end of year ....................... $ (32.6) $ (73.6) $(28.4) $(30.6)
Amounts recognized in the consolidated balance sheets consist of:
Accrued benefit cost .............................. $ (98.2) $(152.3) $(28.4) $(30.6)
Intangible asset .................................. 9.8 11.5 — —
Deferred tax assets ............................... 21.4 25.8 — —
Accumulated other comprehensive loss ................. 34.4 41.4 — —
Net liability at end of year ....................... $ (32.6) $ (73.6) $(28.4) $(30.6)
The accumulated benefit obligation for all pension plans was $454.2 million as of December 31,
2005 and $499.7 million as of December 31, 2004.
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