Pitney Bowes 2012 Annual Report Download - page 98
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PITNEY BOWES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular dollars in thousands, except per share amounts)
80
Pretax amounts recognized in AOCI consist of:
2012 2011
Net actuarial loss $ 106,654 $ 115,713
Prior service cost (credit) 8,872 (5,696)
Total $ 115,526 $ 110,017
The components of net periodic benefit cost for nonpension postretirement benefit plans were as follows:
2012 2011 2010
Service cost $ 3,563 $ 3,328 $ 3,724
Interest cost 11,187 13,528 13,828
Amortization of prior service benefit (1,724)(2,504) (2,511)
Recognized net actuarial loss 8,214 7,666 6,793
Curtailment —2,839 6,954
Special termination benefits —300 191
Net periodic benefit cost $ 21,240 $ 25,157 $ 28,979
Other changes in plan assets and benefit obligation for nonpension postretirement benefit plans recognized in other comprehensive income
were as follows:
2012 2011
Net actuarial (gain) loss $(195)$ 22,201
Amortization of net actuarial gain (loss) 4,631 (9,980)
Amortization of prior service credit 1,724 2,504
Adjustment for actual Medicare Part D Premium (651)(2,040)
Curtailment —308
Total recognized in other comprehensive income $ 5,509 $ 12,993
The estimated amounts that will be amortized from AOCI into net periodic benefit cost in 2013 are as follows:
Net actuarial loss $ 8,961
Prior service 661
Total $ 9,622
The weighted-average discount rates used to determine end of year benefit obligation and net periodic pension cost include:
2012 2011 2010
Discount rate used to determine benefit obligation
U.S. 3.50% 4.50% 5.15%
Canada 3.90% 4.15% 5.15%
Discount rate used to determine net period benefit cost
U.S. 4.50% 5.15% 5.35%
Canada 4.15% 5.15% 5.85%
cost