DIRECTV 2005 Annual Report Download - page 106

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THE DIRECTV GROUP, INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS —(continued)
Information for pension plans with an accumulated benefit obligation in excess of plan assets at
December 31:
2005 2004
(Dollars in Millions)
Projected benefit obligation ................................. $488.1 $532.9
Accumulated benefit obligation .............................. 454.2 499.7
Fair value of plan assets ................................... 355.9 347.4
Components of net periodic benefit cost for the years ended December 31:
Other Postretirement
Pension Benefits Benefits
2005 2004 2003 2005 2004 2003
(Dollars in Millions)
Components of net periodic benefit cost
Benefits earned during the year ..................... $17.6 $ 24.2 $ 23.0 $ 0.4 $ 0.5 $0.5
Interest accrued on benefits earned in prior years ....... 28.0 33.8 35.4 1.6 1.6 1.9
Expected return on assets ......................... (27.5) (31.6) (32.4) — — —
Amortization components
Amount resulting from changes in plan provisions .... 1.7 2.2 2.2 (0.6) (0.7) —
Net amount resulting from changes in plan experience
and actuarial assumptions .................... 6.3 6.1 4.4 — — —
Subtotal ............................... 26.1 34.7 32.6 1.4 1.4 2.4
Other costs
Curtailment costs ............................ — 5.1 — (0.5) — —
Special termination benefits .................... 7.9 36.5 — — — —
Settlement costs ............................ 15.1 14.8 — — — —
Net periodic benefit cost ................... $49.1 $ 91.1 $ 32.6 $ 0.9 $ 1.4 $2.4
Additional information
Increase (decrease) in minimum liability included in other
comprehensive income (loss) ..................... $(11.4) $(11.4) $ 24.4 — — —
Assumptions
Weighted-average assumptions used to determine benefit obligations at December 31:
Other
Pension Postretirement
Benefits Benefits
2005 2004 2005 2004
Discount rate—Qualified Plan ......................... 5.78% 6.00% 5.46% 5.75%
Discount rate—Non-Qualified Plan ...................... 5.74% 6.00% — —
Expected long-term return on plan assets ................. 8.75% 9.00% — —
Rate of compensation increase ......................... 4.00% 4.00% 4.00% 4.00%
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