Fannie Mae 2006 Annual Report Download - page 293

The following table displays the status of our pension and postretirement plans as of December 31, 2006 and
2005.
Qualified
Non-
Qualified
Other Post-
Retirement
Plan Qualified
Non-
Qualified
Other Post-
Retirement
Plan
Pension Plans
2006
Pension Plans
2005
As of December 31,
(Dollars in millions)
Change in Benefit Obligation
Benefit obligation at beginning of year . . . . . . . . . . . . $708 $ 164 $ 163 $ 598 $ 146 $ 139
Servicecost............................... 53 10 12 47 10 11
Interest cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 9 10 37 9 9
Plan participants’ contributions. . . . . . . . . . . . . . . . . . — — 1 — — —
Plan amendments . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 (9) — — 1 —
Net actuarial (loss) gain. . . . . . . . . . . . . . . . . . . . . . . (34) (9) (8) 34 2 8
Benefits paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (10) (4) (4) (8) (4) (4)
Benefit obligation at end of year . . . . . . . . . . . . . $770 $ 161 $ 174 $ 708 $ 164 $ 163
Change in Plan Assets
Fair value of plan assets at beginning of year . . . . . . . . $602 $ — $ — $ 537 $ — $ —
Actual return on plan assets . . . . . . . . . . . . . . . . . . . . 97 — — 36 — —
Employer contributions . . . . . . . . . . . . . . . . . . . . . . . 80 4 3 37 4 4
Plan participants’ contributions. . . . . . . . . . . . . . . . . . — — 1 — — —
Benefits paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (10) (4) (4) (8) (4) (4)
Fair value of plan assets at end of year . . . . . . . . . $769 $ — $ — $ 602 $ — $ —
Reconciliation of Funded Status to Net Amount
Recognized
Over/Under funded status at end of period . . . . . . . . . . $ (1) $(161) $(174) $(106) $(164) $(163)
Unrecognized net actuarial loss . . . . . . . . . . . . . . . . . — — — 152 37 42
Unrecognized prior service cost (benefit). . . . . . . . . . . — — — 1 19 (7)
Unrecognized net transition obligation . . . . . . . . . . . . — — — — — 13
Net amount recognized . . . . . . . . . . . . . . . . . . . . $ (1) $(161) $(174) $ 47 $(108) $(115)
Amounts Recognized in the Consolidated Balance
Sheets
Deferred tax assets . . . . . . . . . . . . . . . . . . . . . . . . . . $ 23 $ 11 $ 21 $ — $ — $ —
Other assets:
Prepaid benefit cost . . . . . . . . . . . . . . . . . . . . . . . . — — — 47 — —
Intangible assets . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — 15 —
Other liabilities:
Accrued benefit cost . . . . . . . . . . . . . . . . . . . . . . . (1) (161) (174) — (108) (115)
Additional minimum pension liability . . . . . . . . . . . — — — — (23) —
Accumulated other comprehensive income. . . . . . . . . . 45 20 16 — 8 —
Net amount recognized . . . . . . . . . . . . . . . . . . . . . $ 67 $(130) $(137) $ 47 $(108) $(115)
F-62
FANNIE MAE
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)