Napa Auto Parts 2005 Annual Report Download - page 39
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Information about the expected cash flows for the pension plans and other post retirement benefit plans follows:
Net periodic benefit cost included the following components:
The assumptions used in measuring the net periodic benefit costs for the plans follow:
Other Postretirement Benefits
Net Employer
Pension Contribution Value Due to
(in thousands) Benefits (Excluding MMA Subsidy) MMA Subsidy
Employer Contribution
2006 (expected) $ 33,859 $ — $ —
Expected Benefit Payments
2006 34,963 4,091 (710)
2007 37,460 3,881 (753)
2008 40,645 3,691 (796)
2009 44,598 3,494 (527)
2010 48,035 3,218 (481)
2011 through 2015 330,939 11,961 —
Pension Benefits Other Postretirement Benefits
(in thousands) 2005 2004 2003 2005 2004 2003
Service cost $ 41,910 $ 35,740 $ 32,488 $ 453 $ 460 $ 90
Interest cost 64,102 60,039 57,520 1,310 1,256 481
Expected return on plan assets (89,422) (81,962) (77,763) —— —
Amortization of prior service cost (386) (1,006) (3,145) 371 371 372
Amortization of actuarial loss 16,172 13,600 8,588 1,224 996 150
Net periodic benefit cost $ 32,376 $ 26,411 $ 17,688 $ 3,358 $ 3,083 $ 1,093
Pension Benefits Other Postretirement Benefits
2005 2004 2003 2005 2004 2003
Weighted average discount rate 6.00% 6.25% 6.75% 6.00% 6.25% 6.75%
Rate of increase in future
compensation levels 3.50% 3.25% 4.15% ———
Expected long-term rate of return
on plan assets 8.50% 8.75% 8.95% ———
Health care cost trend covered charges ———10.00% 10.00% 10.00%