Pizza Hut 2008 Annual Report Download - page 206
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84
Obligation and Funded Status at Measurement Date:
The following chart summarizes the balance sheet impact, as well as benefit obligations, assets, and funded status
associated with our U.S. pension plans and significant International pension plans. The actuarial valuations for all plans
reflect measurement dates coinciding with our fiscal year ends in 2008 and September 30 in 2007 except for the Pizza Hut
U.K. Plan which has historically been measured as of its fiscal year end.
U.S. Pension Plans International Pension Plans
2008 2007 2008 2007
Change in benefit obligation
Benefit obligation at beginning of year $ 842 $ 864 $ 161 $ 152
SFAS 158 measurement date adjustment 21
—
2
—
Service cost 30 33 8 9
Interest cost 53 50 8 8
Participant contributions
—
—
2 2
Plan amendments 1 4
—
—
Acquisitions
—
—
—
4
Curtailment gain (6) (4)
—
—
Settlement loss 1
—
—
—
Special termination benefits 13
—
—
—
Exchange rate changes
—
—
(48) 8
Benefits paid (48) (34) (3) (2)
Settlement payments (9)
—
—
—
Actuarial (gain) loss 25 (71) (4) (20)
Benefit obligation at end of year $ 923 $ 842 $ 126 $ 161
Change in plan assets
Fair value of plan assets at beginning of year $ 732 $ 673 $ 139 $ 117
Actual return on plan assets (213) 93 (33) 11
Employer contributions 54 2 12 6
Participant contributions
—
—
2 2
Settlement payments (9)
—
—
—
Benefits paid (48) (33) (3) (2)
Exchange rate changes
—
—
(34) 5
Administrative expenses (3) (3)
—
—
Fair value of plan assets at end of yea
r
$ 513 $ 732 $ 83 $ 139
Funded status at end of year $ (410) $ (110) $ (43) $ (22)
Form 10-K