Kodak 2002 Annual Report Download - page 67

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Financials
67
The net pension amounts recognized on the Consolidated Statement of Financial Position at December 31, 2002 and 2001 for all
major funded and unfunded U.S. and Non-U.S. defined benefit plans are as follows:
2002 2001
(in millions) U.S. Non-U.S. U.S. Non-U.S.
Change in Benefit Obligation
Projected benefit obligation at January 1 $ 5,939 $ 2,099 $ 5,798 $ 2,126
New plans 25 13 — —
Service cost 106 33 102 41
Interest cost 421 131 426 120
Participant contributions —9— 6
Plan amendment 3 (46) — —
Benefit payments (713) (141) (577) (134)
Actuarial loss 432 227 190 22
Curtailments —— —8
Currency adjustments — 269 — (89)
Projected benefit obligation at December 31 $ 6,213 $ 2,594 $ 5,939 $ 2,100
Change in Plan Assets
Fair value of plan assets at January 1 $ 6,372 $ 1,731 $ 7,345 $ 2,011
New plans 33 13 — —
Actual return on plan assets 75 (106) (420) (102)
Employer contributions 23 105 24 36
Participant contributions —10 — 6
Benefit payments (713) (141) (577) (134)
Currency adjustments — 193 — (81)
Other —— — (2)
Fair value of plan assets at December 31 $ 5,790 $ 1,805 $ 6,372 $ 1,734
Funded Status at December 31 $ (423) $ (789) $ 433 $ (366)
Unamortized:
Transition liability (asset) 2 (7) (53) (8)
Net loss (gain) 975 899 (47) 386
Prior service cost (gain) 8 (21) 610
Net amount recognized at December 31 $ 562 $ 82 $ 339 $ 22
The Company also sponsors unfunded plans for certain U.S.
employees, primarily executives. The benefits of these plans are
obtained by applying KRIP provisions to all compensation,
including amounts being deferred, and without regard to the
legislated qualified plan maximums, reduced by benefits under
KRIP.
Most subsidiaries and branches operating outside the U.S.
have retirement plans covering substantially all employees.
Contributions by the Company for these plans are typically
deposited under government or other fiduciary-type arrangements.
Retirement benefits are generally based on contractual
agreements that provide for benefit formulas using years of
service and/or compensation prior to retirement. The actuarial
assumptions used for these plans reflect the diverse economic
environments within the various countries in which the Company
operates.
Net amount recognized at December 31