Pitney Bowes 2015 Annual Report Download - page 93

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PITNEY BOWES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular dollars in thousands, except per share amounts)
77
Foreign Pension Plans
Diversified
growth funds Real estate Total
Balance at December 31, 2014 $ — $ — $ —
Unrealized gains (119)(1,685) (1,804)
Net purchases, sales and settlements 20,632 40,862 61,494
Balance at December 31, 2015 20,513 39,177 59,690
Nonpension Postretirement Benefits
The benefit obligation and funded status for nonpension postretirement benefit plans are as follows:
2015 2014
Benefit obligation
Benefit obligation - beginning of year $ 253,980 $ 231,153
Service cost 2,455 2,683
Interest cost 8,799 9,951
Plan participants' contributions 4,332 5,418
Actuarial (gain) loss (31,253)37,532
Foreign currency changes (3,289)(2,096)
Curtailment —(2,160)
Benefits paid (23,146)(28,501)
Benefit obligation - end of year (1) $ 211,878 $ 253,980
Fair value of plan assets
Fair value of plan assets - beginning of year $—
$—
Company contribution 18,814 23,083
Plan participants' contributions 4,332 5,418
Benefits paid (23,146)(28,501)
Fair value of plan assets - end of year $—
$—
Amounts recognized in the Consolidated Balance Sheets
Current liability $(19,406)$ (22,113)
Non-current liability (192,472)(231,867)
Funded status $(211,878)$ (253,980)
(1) The benefit obligation for the U.S. nonpension postretirement plans was $198 million and $231 million at December 31, 2015 and 2014, respectively.
Pretax amounts recognized in AOCI consist of:
2015 2014
Net actuarial loss $ 59,174 $ 97,955
Prior service cost 2,060 2,356
Total $ 61,234 $ 100,311