Twenty-First Century Fox 2011 Annual Report Download - page 76

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Notes to the Consolidated Financial Statements (continued)
Amounts in accumulated other comprehensive income expected to be recognized as a component of net periodic pension cost in fiscal 2012:
Pension benefits
Postretirement
benefits
2012 2012
As of June 30, (in millions)
Actuarial losses $48 $ 2
Prior service cost (benefit) 4 (20)
Net amounts recognized $52 $(18)
Accumulated pension benefit obligations at June 30, 2011 and 2010 were $2,942 million and $2,706 million, respectively. Below is
information about funded and unfunded pension plans.
Funded Plans Unfunded Plans(1)
2011 2010 2011 2010
As of June 30, (in millions)
Projected benefit obligation $2,903 $2,713 $301 $273
Accumulated benefit obligation 2,650 2,442 292 264
Fair value of plan assets 2,724 2,404 — —
(1) The Company has established an irrevocable grantor trust (the “Trust”), administered by an independent trustee, with the intention of making cash contributions to the Trust to fund certain
future pension benefit obligations of the Company. The assets in the Trust are unsecured funds of the Company and can be used to satisfy the Company’s obligations in the event of
bankruptcy or insolvency. The fair value of the assets in the Trust at June 30, 2011 and 2010 was approximately $155 million and $137 million, respectively.
Below is information about pension plans in which the accumulated benefit obligation exceeds fair value of the plan assets.
Funded Plans Unfunded Plans
2011 2010 2011 2010
As of June 30, (in millions)
Projected benefit obligation $1,023 $1,179 $301 $273
Accumulated benefit obligation 1,018 1,152 292 264
Fair value of plan assets 936 1,035 — —
The components of net periodic costs were as follows:
Pension benefits Postretirement benefits
2011 2010 2009 2011 2010 2009
For the years ended June 30, (in millions)
Components of net periodic costs:
Service cost benefits earned during the period $ 98 $ 70 $ 73 $ 5 $ 5 $ 7
Interest costs on projected benefit obligations 172 169 159 17 18 21
Expected return on plan assets (171) (138) (143) — — —
Amortization of deferred losses 57 41 14 — — —
Other 12 12 11 (18) (16) (8)
Net periodic costs $ 168 $ 154 $ 114 $ 4 $ 7 $20
74 News Corporation