Macy's 2014 Annual Report Download - page 81

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
F-34
The following benefit payments are estimated to be funded by the Company and paid from the supplementary
retirement plan:
(millions)
Fiscal year
2015.................................................................................................................................... $ 69
2016.................................................................................................................................... 68
2017.................................................................................................................................... 70
2018.................................................................................................................................... 64
2019.................................................................................................................................... 68
2020-2024........................................................................................................................... 267
10. Postretirement Health Care and Life Insurance Benefits
In addition to pension and other supplemental benefits, certain retired employees currently are provided with
specified health care and life insurance benefits. Eligibility requirements for such benefits vary by division and subsidiary,
but generally state that benefits are available to eligible employees who were hired prior to a certain date and retire after a
certain age with specified years of service. Certain employees are subject to having such benefits modified or terminated.
The following provides a reconciliation of benefit obligations, plan assets, and funded status of the postretirement
obligations as of January 31, 2015 and February 1, 2014:
2014 2013
(millions)
Change in accumulated postretirement benefit obligation
Accumulated postretirement benefit obligation, beginning of year......................... $ 223 $ 250
Service cost .............................................................................................................. — —
Interest cost .............................................................................................................. 10 10
Actuarial (gain) loss ................................................................................................. 30 (15)
Medicare Part D subsidy .......................................................................................... 1 1
Benefits paid............................................................................................................. (21)(23)
Accumulated postretirement benefit obligation, end of year................................... 243 223
Change in plan assets
Fair value of plan assets, beginning of year............................................................. — —
Company contributions ............................................................................................ 21 23
Benefits paid............................................................................................................. (21)(23)
Fair value of plan assets, end of year ....................................................................... — —
Funded status at end of year............................................................................................ $ (243) $ (223)
Amounts recognized in the Consolidated Balance Sheets at
January 31, 2015 and February 1, 2014
Accounts payable and accrued liabilities ................................................................. $ (22) $ (26)
Other liabilities......................................................................................................... (221)(197)
$(243) $ (223)
Amounts recognized in accumulated other comprehensive loss at
January 31, 2015 and February 1, 2014
Net actuarial gain ..................................................................................................... $ — $ (35)