Travelers 2014 Annual Report Download - page 238

Table of Contents
THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
14. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued)
is no required contribution to the qualified domestic pension plan during 2015. With respect to the Company's foreign pension plans, there are no
significant required contributions in 2015.
The following table summarizes the components of net periodic benefit cost and other amounts recognized in other comprehensive income
related to the benefit plans for the years ended December 31, 2014, 2013 and 2012.
For the defined benefit pension plans, the estimated net actuarial loss that will be reclassified (amortized) from accumulated other
comprehensive income into net income as part of net periodic benefit cost over the next fiscal year is $96 million, and the estimated prior service
benefit to be amortized over the next fiscal year is $1 million. For the postretirement benefit plans, the estimated net actuarial loss that will be
reclassified (amortized) from accumulated other comprehensive income into net income as part of net periodic benefit cost over the next fiscal year
is less than $1 million, and the estimated prior service benefit to be amortized over the next fiscal year is $3 million.
237
Pension Plans
Postretirement
Benefit Plans
(in millions)
2014
2013
2012
2014
2013
2012
Net Periodic Benefit Cost:
Service cost
$
110
$
118
$
113
$
—
$
—
$
—
Interest cost on benefit obligation
150
132
138
10
9
12
Expected return on plan assets
(218
)
(208
)
(187
)
—
( 1
)
(1
)
Curtailment
(1
)
—
—
—
—
—
Settlement
2
—
—
—
—
—
Amortization of unrecognized:
Prior service benefit
—
—
—
( 2
)
(2
)
—
Net actuarial loss (gain)
65
107
89
(3
)
—
( 1
)
Net periodic benefit cost
$
108
$
149
$
153
$
5
$
6
$
10
Other Changes in Benefit Plan Assets and
Benefit Obligations Recognized in Other
Comprehensive Income:
Prior service benefit
$
(8
)
$
—
$
—
$
—
$
—
$
—
Net actuarial loss (gain)
516
(518
)
176
50
(24
)
11
Plan amendments
—
—
—
—
—
( 31
)
Curtailment
(2
)
—
—
—
—
—
Settlement
(2
)
—
—
—
—
—
Amortization of prior service benefit
—
—
—
2
2
—
Amortization of net actuarial gain (loss)
(65
)
(107
)
(89
)
3
—
1
Total other changes recognized in other
comprehensive income
439
(625
)
87
55
(22
)
(19
)
Total other changes recognized in net
periodic benefit cost and other
comprehensive income
$
547
$
(476
)
$
240
$
60
$
(16
)
$
(9
)