Kodak 2007 Annual Report Download - page 80
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79
Pension (income) expense from continuing operations for all defined benefit plans included:
For the Year Ended December 31,
2007 2006 2005
(in millions) U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S.
Major defined benefit plans:
Service cost $ 71 $ 27 $ 92 $ 35 $ 116 $ 41
Interest cost 304 205 325 180 346 167
Expected return on plan assets (537) (259) (525) (224) (518) (208)
Amortization of:
Transition asset — — — (1) — (1)
Prior service cost — 1 1 13 1 25
Actuarial loss 6 58 8 82 33 66
Pension (income) expense before special termination
benefits, curtailments and settlements
(156)
32
(99)
85
(22)
90
Special termination benefits 61 14 15 41 — 101
Curtailment (gains) losses (25) (4) (50) (6) — 21
Settlement (gains) losses (61) (4) (27) (8) — 11
Net pension (income) expense for major defined
benefit plans
(181)
38
(161)
112
(22)
223
Other plans including unfunded plans — 12 — 22 — 18
Net pension (income) expense from continuing operations $ (181) $ 50 $ (161) $ 134 $ (22) $ 241
The special termination benefits of $75 million, $56 million, and $101 million for the years ended December 31, 2007, 2006, and 2005, respectively,
were incurred as a result of the Company’s restructuring actions and, therefore, have been included in restructuring costs and other in the Consolidated
Statement of Operations for those respective periods. In addition, curtailment and settlement gains for the major funded and unfunded U.S. and Non-U.S.
defined benefit plans totaling $32 million and $51 million for 2007, $50 million and $30 million for 2006, and $21 million and $11 million for 2005 were also
incurred as a result of the Company’s restructuring actions and, therefore, have been included in restructuring costs and other in the Consolidated State-
ment of Operations for those respective periods.
The weighted-average assumptions used to determine the benefit obligation amounts as of the end of the year for all major funded and unfunded U.S. and
Non-U.S. defined benefit plans were as follows:
As of December 31,
2007 2006
U.S. Non-U.S. U.S. Non-U.S.
Discount rate 6.50% 5.59% 5.99% 5.00%
Salary increase rate 4.43% 4.00% 4.55% 3.20%