Morgan Stanley 2014 Annual Report Download - page 282

MORGAN STANLEY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following table presents a summary of the funded status at period-end:
Pension Postretirement
December 31,
2014
December 31,
2013
December 31,
2014
December 31,
2013
(dollars in millions)
Amounts recognized in the Company’s consolidated
statements of financial condition consist of:
Assets .................................... $224 $ 60 $— $—
Liabilities ................................. (526) (523) (75) (128)
Net amount recognized ................... $(302) $(463) $ (75) $(128)
Amounts recognized in accumulated other
comprehensive loss consist of:
Prior service cost (credit) ..................... $ (1) $ 1 $(61) $ (11)
Net loss (gain) .............................. 866 871 (5) (14)
Net loss (gain) recognized ................ $865 $872 $(66) $ (25)
The estimated prior service credit that will be amortized from accumulated other comprehensive loss into net
periodic benefit expense over 2015 is approximately $1 million for defined benefit pension plans and $19 million
for postretirement plans. The estimated net loss that will be amortized from accumulated other comprehensive
loss into net periodic benefit expense over 2015 is approximately $26 million for defined benefit pension plans.
The accumulated benefit obligation for all defined benefit pension plans was $3,988 million and $3,309 million
at December 31, 2014 and December 31, 2013, respectively.
The following table contains information for pension plans with projected benefit obligations in excess of the fair
value of plan assets at period-end:
December 31,
2014
December 31,
2013
(dollars in millions)
Projected benefit obligation .................................... $626 $3,127
Fair value of plan assets ....................................... 100 2,603
The following table contains information for pension plans with accumulated benefit obligations in excess of the
fair value of plan assets at period-end:
December 31,
2014
December 31,
2013
(dollars in millions)
Accumulated benefit obligation ................................. $588 $3,089
Fair value of plan assets ....................................... 82 2,586
The following table presents the weighted average assumptions used to determine benefit obligations at period-end:
Pension Postretirement
December 31,
2014
December 31,
2013
December 31,
2014
December 31,
2013
Discount rate ................................... 3.86% 4.74% 3.69% 4.75%
Rate of future compensation increase ................ 2.85 1.06 N/A N/A
N/A—Not Applicable.
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