US Airways 2003 Annual Report Download - page 81

Table of Contents
authoritative guidance on the accounting for the federal subsidy is pending and that guidance, when issued, could require US Airways to change previously
reported information.
The following table sets forth changes in the fair value of plan assets, benefit obligations and the funded status of the plans as of the measurement date
of September 30, 2003 and 2002, in addition to the amounts recognized in US Airways' Consolidated Balance Sheets as of December 31, 2003, March 31,
2003 and December 31, 2002 (in millions):
Defined Benefit Pension Plans (1) Other Postretirement Benefits
Successor
Company
Predecessor
Company
Successor
Company
Predecessor
Company
Nine
Months
Ended
Dec. 31,
2003
Three
Months
Ended
Mar. 31,
2003
Twelve
Months
Ended
Dec. 31,
2002
Nine
Months
Ended
Dec. 31,
2003
Three
Months
Ended
Mar. 31,
2003
Twelve
Months
Ended
Dec. 31,
2002
Fair value of plan assets at the beginning of the period $ 1,540 $ 2,815 $ 3,116 $ — $ — $ —
Actual return on plan assets 152 77 (101) — — —
Employer contributions — 6 72 27 21 49
Plan participants' contributions — — — 7 3 5
Gross benefits paid (58) (135) (272) (34) (24) (54)
Settlement — (1,223) — — — —
Fair value of plan assets at the end of the period 1,634 1,540 2,815 — — —
Benefit obligation at the beginning of the period 2,335 5,244 5,446 1,643 1,690 1,440
Service cost 27 27 191 30 11 47
Interest cost 113 89 417 76 29 110
Plan participants' contributions — — — 7 3 5
Plan amendments — — 2 (93) (166) (393)
Actuarial (gain) loss 133 380 (502) 22 100 591
Curtailment/settlement (2) — (3,270) (38) — — (56)
Gross benefits paid (58) (135) (272) (34) (24) (54)
Benefit obligation at the end of the period 2,550 2,335 5,244 1,651 1,643 1,690
Funded status of the plan (916) (795) (2,429) (1,651) (1,643) (1,690)
Unrecognized actuarial loss 71 — 1,203 23 — 519
Unrecognized prior service cost (benefit) — — 87 (84) — (339)
Unrecognized transition asset — — (1) — — —
Contributions for October to December — — 4 13 — 15
Net liability recognized in US Airways' Consolidated Balance Sheets $ (845) $ (795) $ (1,136) $ (1,699) $ (1,643) $ (1,495)
Components of the amounts recognized in US Airways' Consolidated Balance Sheets (in millions):
Defined Benefit Pension Plans (1) Other Postretirement Benefits
Successor
Company
Predecessor
Company
Successor
Company
Predecessor
Company
Dec. 31,
2003
Mar. 31,
2003
Dec. 31,
2002
Dec. 31,
2003
Mar. 31,
2003
Dec. 31,
2002
Accrued benefit cost $ (845) $ (795) $ (1,136) $ (1,699) $ (1,643) $ (1,495)
Adjustment for minimum pension liability (86) — (994) — — —
Intangible asset — — 114 — — —
Accumulated other comprehensive loss 86 — 880 — — —
Net amount recognized in US Airways' Consolidated Balance Sheets $ (845) $ (795) $ (1,136) $ (1,699) $ (1,643) $ (1,495)