Macy's 2008 Annual Report Download - page 81

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Pension Plan
The following provides a reconciliation of benefit obligations, plan assets, and funded status of the Pension
Plan as of January 31, 2009 and February 2, 2008:
2008 2007
(millions)
Change in projected benefit obligation
Projected benefit obligation, beginning of year ........................ $2,656 $2,818
Service cost ................................................... 97 104
Interest cost ................................................... 159 157
Adjustment for measurement date change ............................ – (43)
Actuarial gain .................................................. (221) (58)
Benefits paid .................................................. (247) (322)
Projected benefit obligation, end of year ............................. $2,444 $2,656
Changes in plan assets (primarily stocks, bonds and U.S. government securities)
Fair value of plan assets, beginning of year ........................... $2,319 $2,555
Actual return on plan assets ....................................... (634) 98
Adjustment for measurement date change ............................ – (12)
Benefits paid .................................................. (247) (322)
Fair value of plan assets, end of year ................................ $1,438 $2,319
Funded status at end of year ........................................... $(1,006) $ (337)
Amounts recognized in the Consolidated Balance Sheets at
January 31, 2009 and February 2, 2008
Other liabilities ................................................ $(1,006) $ (337)
Amounts recognized in accumulated other comprehensive loss at
January 31, 2009 and February 2, 2008
Net actuarial loss ............................................... $ 875 $ 276
Prior service credit .............................................. (4) (4)
$ 871 $ 272
The accumulated benefit obligation for the Pension Plan was $2,261 million as of January 31, 2009 and
$2,441 million as of February 2, 2008.
F-33