OfficeMax 2014 Annual Report Download - page 104
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Table of Contents
Information for pension plans with benefit obligations and accumulated benefit obligations in excess of plan assets is as follows:
(In millions)
Projected benefit obligation $(1,218) $(785)
Accumulated benefit obligation (1,218) (785)
Fair value of plan assets $ 1,039 $ 639
Components of Net Periodic Cost (Benefit)
The components of net periodic cost (benefit) are as follows:
(In millions)
Service cost $ 3 $ — $ — $ —
Interest cost 52 7 1 —
Expected return on plan assets (62) $ (8) — —
Net periodic cost (benefit) $ (7) $ (1) $ 1 $ —
Other changes in plan assets and benefit obligations recognized in other comprehensive loss (income) are as follows:
(In millions)
Accumulated other comprehensive loss (income) at beginning of year $ (26) $ — $ — $ —
Net loss (gain) 93 (26) 1 —
Accumulated other comprehensive loss (income) at end of year $ 67 $ (26) $ 1 $ —
No accumulated other comprehensive loss is expected to be recognized as components of net periodic cost during 2015.
Assumptions
The assumptions used in accounting for the Company’s plans are estimates of factors including, among other things, the amount and timing of future benefit
payments. The following table presents the key weighted average assumptions used in the measurement of the Company’s benefit obligations as of year-
ends:
Discount rate 3.91% 4.84% 3.40% 4.00% 4.00% 4.80%
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