Kodak 2013 Annual Report Download - page 122

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Table of Contents
The following pension benefit payments, which reflect expected future service, are expected to be paid:
NOTE 20: OTHER POSTRETIREMENT BENEFITS
The Company provided U.S. medical, dental, life insurance, and survivor income benefits to eligible retirees, long-term disability recipients
and their spouses, dependents and survivors. Generally, to be eligible for these benefits, former employees leaving the Company prior to
January 1, 1996 were required to be 55 years of age with ten years of service or their age plus years of service must have equaled or exceeded
75. For those leaving the Company after December 31, 1995, former employees must be 55 years of age with ten years of service or have been
eligible as of December 31, 1995. These benefits are paid from the general assets of the Company as they are incurred.
The Company’s subsidiary in Canada offers similar postretirement benefits.
On November 7, 2012, the Bankruptcy Court entered an order approving a settlement agreement between the Debtors and the Retiree
Committee appointed by the U.S. Trustee which eliminated or reduced certain retiree benefits under the U.S. plan. The Company also
eliminated all postretirement benefits for active employees in the U.S.
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 the Company’s U.S. and Canada plans consist of:
PAGE 115
(in millions)
U.S.
Non
-
U.S.
2014
$
370
$
77
2015
360
72
2016
349
68
2017
339
64
2018
330
61
2019
2023
1,538
295
(in millions)
Successor
Predecessor
2013
2013
2012
Net benefit obligation at beginning of period
$
82
$
137
$
1,294
Service cost
—
—
1
Interest cost
1
3
44
Plan participants
’
contributions
4
9
17
Plan amendments
—
—
(
460
)
Actuarial (gain) loss
(2
)
(50
)
117
Settlements
—
—
(
738
)
Benefit payments
(6
)
(12
)
(134
)
Other
—
—
6
)
Currency adjustments
(1
)
(5
)
2
Net benefit obligation at end of period
$
78
$
82
$
137
Underfunded status at end of period
$
(78
)
$
(82
)
$
(137
)
Successor
Predecessor
As of December 31,
(in millions)
2013
2012
Other current liabilities
$
(8
)
$
(23
)
Pension and other postretirement liabilities
(70
)
(114
)
$
(78
)
$
(137
)