Kodak 2013 Annual Report Download - page 113

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Table of Contents
Pension (income) expense for all defined benefit plans included:
The pension (income) expense before special termination benefits, curtailments, and settlements reported above for the eight months ended
August 31, 2013 (Predecessor) includes $38 million which was reported as Discontinued operations. The Pension expense before special
termination benefits, curtailments, and settlements reported above for the years ended December 31, 2012 and December 31, 2011 includes $53
million and $30 million, respectively, which was reported as Discontinued operations.
The special termination benefits of $99 million and $29 million for the years ended December 31, 2012 and 2011, respectively, were incurred
as a result of Kodak’
s restructuring actions and, therefore, have been included in Restructuring costs and other in the Consolidated Statement of
Operations for those respective periods.
For 2011, $3 million of the curtailment losses and $1 million of the settlement losses were incurred as a result of Kodak’s restructuring actions
and, therefore, have been included in Restructuring costs and other in the Consolidated Statement of Operations for 2011. For 2012, $1 million
of the settlement losses were incurred as a result of Kodak’s restructuring actions and, therefore, have been included in Restructuring costs and
other in the Consolidated Statement of Operations for 2012.
For the eight months ended August 31, 2013, $5 million of curtailment losses were incurred as a result of Kodak’s restructuring actions, and
have been included in Restructuring costs and other in the Consolidated Statement of Operations. The remaining curtailment losses of $8
million have been included in Discontinued operations in the Consolidated Statement of Operations. The $114 million of settlement losses were
incurred as a result of the Global Settlement, and have been included in Discontinued operations in the Consolidated Statement of Operations.
The weighted-average assumptions used to determine the benefit obligation amounts for all major funded and unfunded U.S. and Non-U.S.
defined benefit plans were as follows:
PAGE 106
Successor
Predecessor
Four Months Ended
Eight Months Ended
Year Ended December 31,
December 31, 2013
August 31, 2013
2012
2011
(in millions)
U.S.
Non
-
U.S.
U.S.
Non
-
U.S.
U.S.
Non
-
U.S.
U.S.
Non
-
U.S.
Major defined benefit plans:
Service cost
$
7
$
2
$
20
$
6
$
48
$
10
$
50
$
16
Interest cost
68
11
120
95
206
156
254
180
Expected return on plan assets
(123
)
(15
)
(236
)
(107
)
(389
)
(164
)
(435
)
(209
)
Amortization of:
Prior service cost
—
—
1
1
1
3
1
4
Actuarial loss
—
—
124
56
173
66
69
52
Pension (income) expense before special
termination benefits, curtailments and
settlements
(48
)
(2
)
29
51
39
71
(61
)
43
Special termination benefits
—
—
—
—
99
—
28
1
Curtailment (gains) losses
—
—
—
13
—
(
1
)
4
Settlement (gains) losses
(11
)
(1
)
—
114
—
3
10
Net pension (income) expense for major
defined benefit plans
(59
)
(3
)
29
178
138
73
(33
)
58
Other plans including unfunded plans
—
—
—
7
—
11
—
12
Net pension (income) expense
$
(59
)
$
(3
)
$
29
$
185
$
138
$
84
$
(33
)
$
70
Successor
Predecessor
December 31, 2013
August 31, 2013
December 31, 2012
U.S.
Non
-
U.S.
U.S.
Non
-
U.S.
U.S.
Non
-
U.S.
Discount rate
4.50
%
3.19
%
4.25
%
3.14
%
3.50
%
3.55
%
Salary increase rate
3.37
%
2.65
%
3.39
%
2.69
%
3.40
%
2.84
%