Famous Footwear 2004 Annual Report Download - page 51

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Table of Contents
Notes to Consolidated Financial Statements (continued)
BROWN SHOE COMPANY, INC. 2003 FORM 10-K
Funded Status
The following table reconciles the funded status of all plans, including domestic and Canadian plans:
Other Postretirement
Pension Benefits Benefits
($ thousands) 2003 2002 2003 2002
Over (under) funded status at end of year $52,456 $36,885 $(4,801) $(4,732)
Unrecognized net actuarial (gain) loss (4,928) 9,204 (136) (340)
Unrecognized prior service cost 1,574 1,775 (1) (105)
Unrecognized net transition obligation (asset) (1,203) (1,199) — —
Net amount recognized at end of year $47,899 $46,665 $(4,938) $(5,177)
Amounts recognized in the consolidated balance sheets consist of:
Other Postretirement
Pension Benefits Benefits
($ thousands) 2003 2002 2003 2002
Prepaid benefit cost $53,876 $51,091 $ — $ —
Accrued benefit cost (5,977) (4,426) (4,938) (5,177)
Net amount recognized at end of year $47,899 $46,665 $(4,938) $(5,177)
The projected benefit obligation, the accumulated benefit obligation and the fair value of plan assets for pension plans with a projected benefit
obligation in excess of plan assets and for pension plans with an accumulated benefit obligation in excess of plan assets, which includes only
the Company’s SERP, were as follows:
Projected Benefit Accumulated Benefit
Obligation Exceeds the Obligation Exceeds the
Fair Value of Plan Assets Fair Value of Plan Assets
($ thousands) 2003 2002 2003 2002
End of Year
Projected benefit obligation $10,621 $8,018 $10,621 $8,018
Accumulated benefit obligation 5,587 4,259 5,587 4,259
Fair value of plan assets — — — —
The accumulated postretirement benefit obligation exceeds assets for all of the Company’s other postretirement benefit plans.
Net Periodic Benefit Cost
Net periodic benefit cost (income) for 2003, 2002 and 2001 for all domestic and Canadian plans included the following components:
Pension Benefits Other Postretirement Benefits
($ thousands) 2003 2002 2001 2003 2002 2001
Service cost $5,269 $4,675 $4,545 $ — $ — $1