Health Net 2009 Annual Report Download - page 132

HEALTH NET, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following table sets forth the plans’ obligations and funded status at December 31:
Pension Benefits Other Benefits
2009 2008 2009 2008
(Dollars in millions)
Change in benefit obligation:
Benefit obligation, beginning of year ........................ $25.7 $ 26.2 $ 10.1 $ 9.5
Service cost ............................................ 1.0 1.2 0.2 0.2
Interest cost ............................................ 1.7 1.6 0.7 0.6
Benefits paid ........................................... (0.9) (1.0) (0.6) (0.5)
Actuarial (gain) loss ...................................... 2.1 (2.3) 0.6 0.3
Benefit obligation, end of year ............................. $29.6 $ 25.7 $ 11.0 $ 10.1
Change in fair value of plan assets:
Plan assets, beginning of year .............................. $ — $ — $ — $ —
Employer contribution .................................... 0.9 1.0 0.6 0.5
Benefits paid ........................................... (0.9) (1.0) (0.6) (0.5)
Plan assets, end of year ................................... $ — $ — $ — $ —
Underfunded status, end of year ............................ $(29.6) $(25.7) $(11.0) $(10.1)
Amounts recognized in our consolidated balance sheet as of December 31 consist of:
Pension Benefits Other Benefits
2009 2008 2009 2008
(Dollars in millions)
Noncurrent assets ........................................ ————
Current liabilities ........................................ $ (1.0) $ (1.0) $ (0.5) $ (0.6)
Noncurrent liabilities ..................................... (28.6) (24.7) (10.5) (9.5)
Net amount recognized ................................... $(29.6) $(25.7) $(11.0) $(10.1)
Amounts recognized in accumulated other comprehensive income as of December 31 consist of:
Pension Benefits Other Benefits
2009 2008 2009 2008
(Dollars in millions)
Prior service cost ............................................... $0.2 $ 0.5 $— $0.1
Net loss (gain) ................................................. 0.2 (1.0) 0.5 0.1
$0.4 $(0.5) $ 0.5 $0.2
The following table sets forth our plans with an accumulated benefit obligation in excess of plan assets at
December 31:
Pension Benefits Other Benefits
2009 2008 2009 2008
(Dollars in millions)
Projected benefit obligation .................................... $29.6 $25.7 $11.0 $10.1
Accumulated benefit obligation ................................. 21.7 18.4 11.0 10.1
Fair value of plan assets ....................................... $— $— $— $—
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