US Airways 2008 Annual Report Download - page 154

Table of Contents
US Airways, Inc.
Notes to Consolidated Financial Statements — (Continued)
on the consolidated balance sheets. Refer to Note 5(a) for further discussion of US Airways' fuel hedging derivatives.
Assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) are as follows (in millions):
Investments in
Marketable
Securities
(Noncurrent)
Balance at December 31, 2007 $ 353
Losses deemed to be other than temporary reclassified from other comprehensive income to other nonoperating expense,
net 48
Impairment losses included in other nonoperating expense, net (214)
Balance at December 31, 2008 $ 187
7. Employee pension and benefit plans
Substantially all of US Airways' employees meeting certain service and other requirements are eligible to participate in various
pension, medical, dental, life insurance, disability and survivorship plans.
(a) Other Postretirement Benefits Plan
The following table sets forth changes in the fair value of plan assets, benefit obligations and the funded status of the plans and the
amounts recognized in US Airways' consolidated balance sheets as of December 31, 2008 and 2007 (in millions).
Year Ended Year Ended
December 31, December 31,
2008 2007
Fair value of plan assets at beginning of period $ — $ —
Actual return on plan assets — —
Employer contributions 15 23
Plan participants' contributions 22 28
Gross benefits paid (37) (51)
Fair value of plan assets at end of period — —
Benefit obligation at beginning of period 162 217
Service cost 2 3
Interest cost 9 12
Plan participants' contributions 22 28
Actuarial gain (33) (47)
Gross benefits paid (37) (51)
SFAS No. 158 adoption (4) —
Benefit obligation at end of period 121 162
Funded status of the plan (121) (162)
Contributions for October to December — 6
Liability recognized in the consolidated balance sheet $ (121) $ (156)
Net actuarial gain recognized in accumulated other comprehensive income $ 78 $ 47
As described in Note 1(s), US Airways adopted the measurement provisions of SFAS No. 158 on January 1, 2008. The change in
US Airways' other postretirement benefit obligation reflects a $4 million reduction for the
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