Kodak 2002 Annual Report Download - page 68

Download and view the complete annual report

Please find page 68 of the 2002 Kodak annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 124

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124

Financials
68
Amounts recognized in the Statement of Financial Position for major plans are as follows:
2002 2001
(in millions) U.S. Non-U.S. U.S. Non-U.S.
Prepaid pension cost $ 712 $ 260 $ 482 $ 60
Accrued benefit liability (150) (178) (143) (38)
Additional minimum pension liability (78) (706) (57) (44)
Intangible asset 5 112 10 1
Accumulated other comprehensive income 73 594 47 43
Net amount recognized at December 31 $ 562 $ 82 $ 339 $ 22
The prepaid pension cost asset amounts for the U.S. and Non-U.S. at December 31, 2002 and 2001 are included in other long-
term assets. The accrued benefit liability and additional minimum pension liability amounts (net of the intangible asset amounts) for
the U.S. and Non-U.S. at December 31, 2002 and 2001 are included in postretirement liabilities. The accumulated other comprehensive
income amounts for the U.S. and Non-U.S. at December 31, 2002 and 2001 are included as a component of shareholders’ equity, net
of taxes.
Pension expense (income) for all plans included:
2002 2001 2000
(in millions) U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S.
Service cost $ 106 $ 33 $ 102 $ 41 $ 94 $ 42
Interest cost 421 131 426 120 425 114
Expected return on plan assets (677) (165) (599) (159) (576) (157)
Amortization of:
Transition asset (54) (3) (57) (3) (57) (10)
Prior service cost 1 (21) 1 (15) 2 8
Actuarial (gain) loss 3392423
(200) 14 (125) (12) (110) —
Special termination benefits — 27 — 13 — —
Settlements — — — — 6 1
Net pension (income) expense (200) 41 (125) 1 (104) 1
Other plans including unfunded plans 3 49 16 66 9 63
Total net pension (income) expense $ (197) $ 90 $(109) $ 67 $ (95) $ 64
The weighted assumptions used to compute pension amounts for major plans were as follows:
2002 2001
U.S. Non-U.S. U.S. Non-U.S.
Discount rate 6.50% 5.40% 7.25% 5.90%
Salary increase rate 4.25% 3.30% 4.25% 3.10%
Long-term rate of return on plan assets 9.50% 8.30% 9.50% 8.60%