Pitney Bowes 2014 Annual Report Download - page 84

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PITNEY BOWES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular dollars in thousands, except per share amounts)
74
Nonpension Postretirement Benefits
The benefit obligation and funded status for nonpension postretirement benefit plans are as follows:
2014 2013
Benefit obligation
Benefit obligation - beginning of year $ 231,153 $ 282,857
Service cost 2,683 3,684
Interest cost 9,951 9,503
Plan participants' contributions 5,418 4,313
Actuarial loss (gain) 37,532 (30,051)
Foreign currency changes (2,096)(1,693)
Curtailment (2,160)(4,839)
Benefits paid (28,501)(32,621)
Benefit obligation - end of year (1) $ 253,980 $ 231,153
Fair value of plan assets
Fair value of plan assets - beginning of year $—
$—
Company contribution 23,083 28,308
Plan participants' contributions 5,418 4,313
Benefits paid (28,501)(32,621)
Fair value of plan assets - end of year $—
$—
Amounts recognized in the Consolidated Balance Sheets
Current liability $(22,113)$ (23,668)
Non-current liability (231,867)(207,485)
Funded status $(253,980)$ (231,153)
(1) The benefit obligation for the U.S. nonpension postretirement plans was $231 million and $208 million at December 31, 2014 and 2013, respectively.
Pretax amounts recognized in AOCI consist of:
2014 2013
Net actuarial loss $ 97,955 $ 68,120
Prior service cost 2,356 2,516
Total $ 100,311 $ 70,636
The components of net periodic benefit cost for nonpension postretirement benefit plans were as follows:
2014 2013 2012
Service cost $ 2,683 $ 3,684 $ 3,563
Interest cost 9,951 9,503 11,187
Amortization of prior service cost (credit) 159 128 (1,724)
Amortization of net actuarial loss 5,949 7,433 8,214
Curtailment —2,920 —
Net periodic benefit cost $ 18,742 $ 23,668 $ 21,240