DIRECTV 2008 Annual Report Download - page 100
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THE DIRECTV GROUP, INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(continued)
assets and benefit obligations as of the date of our fiscal year end. This required a change in our
measurement date, which was previously November 30. See Note 2 for additional information.
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
Pension Postretirement
Benefits Benefits
2008 2007 2008 2007
(Dollars in Millions)
Change in Net Benefit Obligation
Net benefit obligation at beginning of year ..................... $430 $468 $ 24 $ 28
Service cost ........................................... 16 18 — —
Interest cost ........................................... 27 28 1 1
Plan participants’ contributions ............................. 1 1 — —
Actuarial loss (gain) ..................................... 29 (27) — (3)
Benefits paid .......................................... (51) (58) (3) (2)
Net benefit obligation at end of year ......................... 452 430 22 24
Change in Plan Assets
Fair value of plan assets at beginning of year ................... 368 393 — —
Actual (loss) return on plan assets ........................... (85) 22 — —
Employer contributions ................................... 51 11 3 2
Benefits paid .......................................... (51) (58) (3) (2)
Fair value of plan assets at end of year ........................ 283 368 — —
Funded status at end of year ............................... $(169) $ (62) $(22) $(24)
Amounts recognized in the consolidated balance sheets consist of:
Investments and other assets ............................ $ — $ 2 $— $—
Accounts payable and accrued liabilities .................... (9) (10) (3) (3)
Other liabilities and deferred credits ...................... (160) (54) (19) (21)
Deferred tax assets ................................... 79 26 (1) (1)
Accumulated other comprehensive loss .................... 129 42 (1) (1)
Amounts recognized in the accumulated other comprehensive loss
consist of:
Unamortized net amount resulting from changes in defined
benefit plan experience and actuarial assumptions, net of taxes . $ 125 $ 37 $ — $ —
Unamortized amount resulting from changes in defined benefit
plan provisions, net of taxes ........................... 4 5 (1) (1)
Total .......................................... $129 $ 42 $ (1) $ (1)
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