MetLife 2006 Annual Report Download - page 144
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Obligations, Funded Status and Net Periodic Benefit Costs
2006 2005 2006 2005
Pension
Benefits
Other
Postretirement
Benefits
December 31,
(In millions)
Change in benefit obligation:
Benefitobligationatbeginningofyear ................................ $5,766 $5,523 $2,176 $1,975
Servicecost ............................................... 163 142 35 37
Interestcost................................................ 335 318 117 121
Planparticipants’contributions.................................... — — 29 28
Acquisitionsanddivestitures..................................... (4) (1) — 1
Netactuarial(gains)losses...................................... 27 90 1 172
Changeinbenefits ........................................... (6) — (143) 7
Transfersin(out)ofcontrolledgroup................................ — 6 — (5)
Prescriptiondrugsubsidy....................................... — — 10 —
Benefitspaid............................................... (322) (312) (152) (160)
Benefitobligationatendofyear .................................... 5,959 5,766 2,073 2,176
Change in plan assets:
Fairvalueofplanassetsatbeginningofyear............................ 5,518 5,392 1,093 1,062
Actualreturnonplanassets ..................................... 725 404 104 60
Divestitures................................................ (4) (1) — —
Employercontribution ......................................... 388 35 2 2
Benefitspaid............................................... (322) (312) (27) (31)
Fairvalueofplanassetsatendofyear................................ 6,305 5,518 1,172 1,093
Fundedstatusatendofyear ...................................... $ 346 (248) $ (901) (1,083)
Unrecognizednetactuarial(gains)losses............................. 1,528 377
Unrecognizedpriorservicecost(credit).............................. 54 (122)
Unrecognizednetassetattransition................................ — 1
Netprepaid(accrued)benefitcostrecognized........................... $1,334 $ (827)
Components of net amount recognized:
Qualifiedplanprepaidbenefitcost ................................. $1,696 $ —
Non-qualifiedplanaccruedbenefitcost.............................. (362) (827)
Netprepaid(accrued)benefitcostrecognized.......................... 1,334 (827)
Intangibleasset ............................................. 12 —
Additionalminimumpensionliability................................. (78) —
Netamountrecognized ........................................ $1,268 $ (827)
Amounts recognized in the consolidated balance sheet consist of:
Otherassets ............................................... $ 944 $1,708 $ — $ —
Otherliabilities.............................................. (598) (440) (901) (827)
Netamountrecognized ........................................ $ 346 $1,268 $ (901) $ (827)
Accumulated other comprehensive (income) loss:
Netactuarial(gains)losses...................................... $1,123 $ — $ 328 $ —
Priorservicecost(credit) ....................................... 41 — (230) —
Netassetattransition ......................................... — — 1 —
Additionalminimumpensionliability................................. — 66 — —
1,164 66 99 —
Deferredincometaxandminorityinterest............................. (423) (25) (37) —
$ 741 $ 41 $ 62 $ —
F-61MetLife, Inc.
METLIFE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)