Kodak 2010 Annual Report Download - page 91
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89
On November 30, 2010, the Company adopted and announced certain changes to its U.S. postretirement benefit plans effective
January 1, 2011. Modifications were made to dependent subsidy levels and prescription drug coverage. These changes resulted in
the remeasurement of the plan’s obligations as of November 30, 2010.
The measurement date used to determine the net benefit obligation for the Company's other postretirement benefit plans is
December 31.
Changes in the Company’s benefit obligation and funded status for the U.S., United Kingdom and Canada other postretirement
benefit plans were as follows:
(in millions)
2010
2009
Net benefit obligation at beginning of year
$ 1,404
$ 1,471
Service cost
1
1
Interest cost
72
92
Plan participants’ contributions
9
25
Plan amendments
(29)
(118)
Actuarial loss
95
111
Curtailments
-
3
Benefit payments
(168)
(192)
Currency adjustments
2
11
Net benefit obligation at end of year
$ 1,386
$ 1,404
Underfunded status at end of year
$ (1,386)
$ (1,404)
Amounts recognized in the Consolidated Statement of Financial Position for the Company's U.S., United Kingdom, and Canada
plans consisted of:
As of December 31,
(in millions)
2010
2009
Other current liabilities
$ (133)
$ (147)
Pension and other postretirement liabilities
(1,253)
(1,257)
$ (1,386)
$ (1,404)
Amounts recognized in Accumulated other comprehensive loss for the Company's U.S., United Kingdom, and Canada plans
consisted of:
As of December 31,
(in millions)
2010
2009
Prior service credit
$ 829
$ 875
Net actuarial loss
(535)
(468)
$ 294
$ 407
Changes in benefit obligations recognized in other comprehensive loss during 2010 for the Company’s U.S., United Kingdom, and
Canada plans follows:
As of December 31,
(in millions)
2010
2009
Newly established loss
$ 95
$ 111
Newly established prior service credit
(29)
(118)
Amortization of:
Prior service credit
76
71
Net loss
(28)
(22)
Prior service credit recognized due to curtailment
-
2
Total amount recognized in Other comprehensive loss
$ 114
$ 44