MasterCard 2008 Annual Report Download - page 111
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MASTERCARD INCORPORATED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(In thousands, except percent and per share data)
The accumulated benefit obligation of the Pension Plans was $196,536 and $193,421 at December 31, 2008
and 2007, respectively.
The projected benefit obligation and fair value of plan assets of the Pension Plans with a projected benefit
obligation in excess of plan assets were as follows at December 31:
2008 2007
Projected benefit obligation ....................................... $217,035 $214,805
Accumulated benefit obligation .................................... 196,536 193,421
Fair value of plan assets .......................................... 148,846 195,966
Components of net periodic pension costs were as follows for each of the years ended December 31:
2008 2007 2006
Service cost .......................................... $19,980 $ 18,866 $ 18,599
Interest cost .......................................... 13,638 12,191 10,869
Expected return on plan assets ............................ (16,030) (16,366) (15,321)
Amortization:
Actuarial loss ..................................... 1,675 — 1,199
Prior service credit ................................. (2,329) (229) (206)
Settlement gain .................................... (773) — —
Net periodic pension cost ................................ $16,161 $ 14,462 $ 15,140
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income for the
years ended December 31:
2008 2007
Settlement gain ................................................... $ 773 $ —
Current year actuarial loss .......................................... 56,386 17,705
Amortization of actuarial loss ....................................... (1,675) —
Current year prior service credit ..................................... — (16,793)
Amortization of prior service credit ................................... 2,329 229
Total recognized in other comprehensive income ........................ $57,813 $ 1,141
Total recognized in net periodic benefit cost and other comprehensive
income ....................................................... $73,974 $ 15,603
The estimated amounts that are expected to be amortized from accumulated other comprehensive income
into net periodic benefit cost in 2009 are as follows:
Actuarial loss .............................................................. $8,670
Prior service credit .......................................................... (2,286)
Total ..................................................................... $6,384
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