Pitney Bowes 2014 Annual Report Download - page 78

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PITNEY BOWES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular dollars in thousands, except per share amounts)
68
Information provided in the table below is only for pension plans with an accumulated benefit obligation in excess of plan assets at
December 31, 2014 and 2013:
United States Foreign
2014 2013 2014 2013
Projected benefit obligation $ 1,867,788 $ 1,621,164 $ 583,317 $ 544,875
Accumulated benefit obligation $ 1,866,525 $ 1,610,029 $ 566,365 $ 532,774
Fair value of plan assets $ 1,592,774 $ 1,522,057 $ 437,209 $ 421,229
Pretax amounts recognized in AOCI consist of:
United States Foreign
2014 2013 2014 2013
Net actuarial loss $ 918,641 $ 733,943 $ 253,257 $ 200,000
Prior service credit (144)(135)(806)(863)
Transition asset ——(49)(59)
Total $ 918,497 $ 733,808 $ 252,402 $ 199,078
The estimated amounts that will be amortized from AOCI into net periodic benefit cost in 2015 are as follows:
United States Foreign
Net actuarial loss $ 30,590 $ 6,828
Prior service cost (credit) 9 (79)
Transition asset — (10)
Total $ 30,599 $ 6,739
The components of net periodic benefit cost for defined benefit pension plans were as follows:
United States Foreign
2014 2013 2012 2014 2013 2012
Service cost $ 6,908 $ 13,981 $ 18,939 $ 3,565 $ 6,272 $ 7,763
Interest cost 77,655 74,370 81,040 28,518 27,365 27,793
Expected return on plan assets (103,822) (107,608)(121,623)(39,137)(34,769) (32,299)
Amortization of net transition asset ———
(10)(9) (10)
Amortization of prior service cost (credit) 9380 803 (57)112 112
Amortization of net actuarial loss 25,369 32,494 52,957 8,268 14,445 14,103
Special termination benefits —548 — 1,238 935 601
Settlement / curtailment 4,528 2,638 (48)—— 444
Net periodic benefit cost $ 10,647 $ 16,803 $ 32,068 $ 2,385 $ 14,351 $ 18,507