Pitney Bowes 2013 Annual Report Download - page 97
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PITNEY BOWES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular dollars in thousands, except per share amounts)
86
Pretax amounts recognized in AOCI consist of:
2013 2012
Net actuarial loss $ 68,120 $ 109,962
Prior service cost 2,516 5,564
Total $ 70,636 $ 115,526
The components of net periodic benefit cost for nonpension postretirement benefit plans were as follows:
2013 2012 2011
Service cost $ 3,684 $ 3,563 $ 3,328
Interest cost 9,503 11,187 13,528
Amortization of prior service cost (credit) 128 (1,724) (2,504)
Amortization of net actuarial loss 7,433 8,214 7,666
Curtailment 2,920 — 2,839
Special termination benefits —— 300
Net periodic benefit cost $ 23,668 $ 21,240 $ 25,157
Other changes in plan assets and benefit obligation for nonpension postretirement benefit plans recognized in other comprehensive income
were as follows:
2013 2012
Net actuarial gain $(34,890)$ (195)
Amortization of net actuarial (loss) gain (7,433)4,631
Amortization of prior service (cost) credit (128)1,724
Curtailment (2,920)—
Other adjustments 481 (651)
Total recognized in other comprehensive income $(44,890)$ 5,509
The estimated amounts that will be amortized from AOCI into net periodic benefit cost in 2014 are as follows:
Net actuarial loss $ 6,092
Prior service cost 160
Total $ 6,252
The weighted-average discount rates used to determine end of year benefit obligation and net periodic pension cost include:
2013 2012 2011
Discount rate used to determine benefit obligation
U.S. 4.40% 3.65% 4.50%
Canada 4.65% 3.90% 4.15%
Discount rate used to determine net period benefit cost
U.S. 3.65% 4.50% 5.15%
Canada 3.90% 4.15% 5.15%