Time Warner Cable 2009 Annual Report Download - page 100

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14. EMPLOYEE BENEFIT PLANS
Pension Plans
The Company participates in various funded and unfunded noncontributory defined benefit pension plans (the “TWC Pension
Plans”) administered by Time Warner through October 31, 2008 and by the Company thereafter. Pension benefits are based on formulas
that reflect the employees’ years of service and compensation during their employment period. TWC uses a December 31 measurement
date for its plans. A summary of activity for the TWC Pension Plans is as follows (in millions):
2009 2008
Change in Benefit Obligation:
Projected benefit obligation, beginning of year ......................................... $ 1,318 $ 1,220
Service cost ................................................................. 100 96
Interest cost ................................................................. 88 79
Actuarial (gain) loss ........................................................... 83 (57)
Benefits paid................................................................. (28) (21)
Settlements .................................................................. (9) —
Plan amendment .............................................................. — 1
Projected benefit obligation, end of year .............................................. $ 1,552 $ 1,318
Accumulated benefit obligation, end of year ........................................... $ 1,228 $ 1,090
Change in Plan Assets:
Fair value of plan assets, beginning of year ............................................ $ 1,113 $ 1,187
Actual return on plan assets...................................................... 349 (455)
Employer contributions ......................................................... 170 402
Benefits paid................................................................. (28) (21)
Settlements .................................................................. (9) —
Fair value of plan assets, end of year ................................................. $ 1,595 $ 1,113
Funded Status:
Fair value of plan assets .......................................................... $ 1,595 $ 1,113
Projected benefit obligation ........................................................ 1,552 1,318
Funded status, amount recognized ................................................... $ 43 $ (205)
Amounts recognized in the consolidated balance sheet consisted of (in millions):
2009 2008
December 31,
Noncurrent asset ................................................................ $ 75 $ —
Current liability ................................................................ (3) (11)
Noncurrent liability.............................................................. (29) (194)
$ 43 $ (205)
Accumulated other comprehensive loss:
Net actuarial loss ............................................................... $ 528 $ 768
Prior service cost ............................................................... 1 1
$ 529 $ 769
Included in the change in benefit obligation table above are the following projected benefit obligations, accumulated benefit
obligations and fair value of plan assets at the end of the year for the TWC Pension Plans (in millions):
2009 2008 2009 2008
December 31,
Funded Plans
December 31,
Unfunded Plan
Projected benefit obligation ................................. $ 1,520 $ 1,276 $ 32 $ 42
Accumulated benefit obligation .............................. 1,196 1,045 32 45
Fair value of plan assets ................................... 1,595 1,113 — —
88
TIME WARNER CABLE INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)