Kodak 2012 Annual Report Download - page 109

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Table of Contents
actuarial losses from Accumulated other comprehensive loss, of approximately $510 million in the Consolidated Statement of Operations
resulting in a net settlement gain of approximately $229 million. The net settlement gain was recorded as part of Reorganization items, net in the
Consolidated Statement of Operations. While retiree medical and dental benefits have been significantly reduced, the Company expects to have
some ongoing cost associated with the COBRA continuation coverage of medical benefits. The reduction in medical benefits is a negative plan
amendment resulting in an APBO reduction of approximately $460 million that was recognized as a component of Accumulated other
comprehensive loss and will be amortized in income over approximately 10 years.
The Company also eliminated all postretirement benefits for active employees. As a result, Kodak recorded a curtailment gain of approximately
$9 million. The gain was recorded as part of Reorganization items, net in the Consolidated Statement of Operations.
The measurement date used to determine the net benefit obligation for Kodak’s other postretirement benefit plans is December 31.
Changes in Kodak’s benefit obligation and funded status for the U.S. and Canada other postretirement benefit plans were as follows:
Amounts recognized in the Consolidated Statement of Financial Position for Kodak’s U.S. and Canada plans consisted of:
105
(in millions)
2012
2011
Net benefit obligation at beginning of year
$
1,294
$
1,348
Service cost
1
1
Interest cost
44
65
Plan participants
’
contributions
17
20
Plan amendments
(460
)
—
Actuarial loss (gain)
117
(4
)
Settlements
(738
)
—
Benefit payments
(134
)
(134
)
Other
(6
)
—
Currency adjustments
2
(2
)
Net benefit obligation at end of year
$
137
$
1,294
Underfunded status at end of year
$
(137
)
$
(1,294
)
As of December 31,
(in millions)
2012
2011
Other current liabilities
$
(23
)
$
(122
)
Pension and other postretirement liabilities
(114
)
(1,172
)
$
(137
)
$
(1,294
)