Pitney Bowes 2012 Annual Report Download - page 90

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PITNEY BOWES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular dollars in thousands, except per share amounts)
72
Information provided in the table below is only for pension plans with an accumulated benefit obligation in excess of plan assets at
December 31, 2012 and 2011:
United States Foreign
2012 2011 2012 2011
Projected benefit obligation $ 1,821,300 $ 1,705,732 $ 660,110 $ 579,646
Accumulated benefit obligation $ 1,801,433 $ 1,682,392 $ 645,361 $ 541,723
Fair value of plan assets $ 1,582,379 $ 1,424,837 $ 505,084 $ 435,702
Pretax amounts recognized in AOCI consists of:
United States Foreign
2012 2011 2012 2011
Net actuarial loss $ 879,323 $ 858,531 $ 242,668 $ 224,731
Prior service cost 1,229 2,159 541 541
Transition asset ——(263)(273)
Total $ 880,552 $ 860,690 $ 242,946 $ 224,999
The estimated amounts that will be amortized from AOCI into net periodic benefit cost in 2013 are as follows:
United States Foreign
Net actuarial loss $ 72,382 $ 13,191
Prior service cost 803 99
Transition asset — (10)
Total $ 73,185 $ 13,280
The components of net periodic benefit cost for defined benefit pension plans were as follows:
United States Foreign
2012 2011 2010 2012 2011 2010
Service cost $ 18,939 $ 19,450 $ 23,157 $ 7,763 $ 7,310 $ 6,907
Interest cost 81,040 87,738 89,602 27,793 28,329 27,507
Expected return on plan assets (121,623) (123,058)(123,095)(32,299)(31,784) (28,838)
Amortization of transition credit ———
(10)(10)(9)
Amortization of prior service cost 803 147 (2,575)112 170 214
Recognized net actuarial loss 52,957 37,522 32,343 14,103 11,135 10,205
Special termination benefits —1,489 8,148 601 277 291
Settlement / curtailment (48) 3,036 10,712 444 274 1,285
Net periodic benefit cost $ 32,068 $ 26,324 $ 38,292 $ 18,507 $ 15,701 $ 17,562