Harley Davidson 2013 Annual Report Download - page 87
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87
Benefit Costs:
Components of net periodic benefit costs for the years ended December 31 (in thousands):
Pension and
SERPA Benefits Postretirement
Healthcare Benefits
2013 2012 2011 2013 2012 2011
Service cost $ 35,987 $ 33,681 $ 37,341 $ 7,858 $ 7,413 $ 7,630
Interest cost 79,248 83,265 80,805 15,599 18,310 19,644
Expected return on plan assets (127,327) (117,110)(106,612)(9,537)(9,423)(9,386)
Amortization of unrecognized:
Prior service cost (credit) 1,746 2,958 2,981 (3,853)(3,853)(3,878)
Net loss 58,608 43,874 30,266 8,549 7,421 7,192
Net curtailment loss — — 236 — — —
Settlement loss — 6,242 274 — — —
Net periodic benefit cost $ 48,262 $ 52,910 $ 45,291 $ 18,616 $ 19,868 $ 21,202
Net periodic benefit costs are allocated among selling, administrative and engineering expense, cost of goods sold and
inventory. The 2010 Restructuring Plan actions discussed in Note 4 resulted in the pension and postretirement healthcare plan
net curtailment losses noted in the table above and were included in restructuring expense in the consolidated income
statement.
Amounts included in accumulated other comprehensive income, net of tax, at December 31, 2013 which have not yet
been recognized in net periodic benefit cost are as follows (in thousands):
Pension and
SERPA Benefits Postretirement
Healthcare Benefits Total
Prior service cost (credit) $ 2,390 $ (13,495) $ (11,105)
Net actuarial loss 326,588 48,563 375,151
$ 328,978 $ 35,068 $ 364,046
Amounts expected to be recognized in net periodic benefit cost, net of tax, during the year ended December 31, 2014 are
as follows (in thousands):
Pension and
SERPA Benefits Postretirement
Healthcare Benefits Total
Prior service cost (credit) $ 704 $ (2,426) $ (1,722)
Net actuarial loss 23,020 2,977 25,997
$ 23,724 $ 551 $ 24,275