Time Magazine 2009 Annual Report Download - page 118
Download and view the complete annual report
Please find page 118 of the 2009 Time Magazine annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108 -
109 -
110 -
111 -
112 -
113 -
114 -
115 -
116 -
117 -
118 -
119 -
120 -
121 -
122 -
123 -
124 -
125 -
126 -
127 -
128 -
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
 |
 |
Included in the change in benefit obligation table above are the following projected benefit obligations,
accumulated benefit obligations, and fair values of plan assets at the end of the year for the funded and unfunded
defined benefit pension plans (millions):
2009 2008 2009 2008
December 31,
Domestic
Funded Plans
December 31,
Domestic
Unfunded Plans
(recast) (recast)
Projected benefit obligation .................... $ 2,184 $ 2,031 $ 317 $ 316
Accumulated benefit obligation ................. 1,982 1,838 334 339
Fair value of plan assets ...................... 2,092 1,702 — —
2009 2008 2009 2008
December 31,
International
Funded Plans
December 31,
International
Unfunded Plans
Projected benefit obligation .................... $ 881 $ 601 $ 30 $ 22
Accumulated benefit obligation ................. 800 538 26 19
Fair value of plan assets ...................... 870 646 — —
Components of Net Periodic Benefit Costs from Continuing Operations (millions)
2009 2008 2007 2009 2008 2007
December 31,
Domestic
December 31,
International
(recast) (recast)
Service cost.......................... $ 65 $ 80 $ 81 $ 13 $ 24 $ 24
Interest cost.......................... 142 141 135 37 51 45
Expected return on plan assets ............ (131) (176) (168) (42) (71) (64)
Amortization of prior service cost ......... — 5 3 — — —
Amortization of net loss................. 118 19 18 6 — 4
Settlements/curtailments................. 6 — — (1) — —
Net periodic benefit costs................ $ 200 $ 69 $ 69 $ 13 $ 4 $ 9
The estimated amounts that will be amortized from accumulated other comprehensive income into net periodic
benefit cost in 2010 are as follows (millions):
Domestic International
Actuarial loss ................................................ $70 $14
In addition, certain domestic employees of the Company participate in multi-employer pension plans, not
included in the net periodic costs above, for which the expense was $38 million in 2009, $35 million in 2008 and
$47 million in 2007.
Assumptions
Weighted-average assumptions used to determine benefit obligations at December 31:
2009 2008 2007 2009 2008 2007
Domestic International
(recast) (recast)
Discount rate ............................. 5.79% 6.09% 6.01% 5.83% 6.45% 5.92%
Rate of compensation increase ................ 4.49% 4.49% 4.49% 5.59% 4.87% 4.88%
106
TIME WARNER INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)