Union Pacific 2006 Annual Report Download - page 64

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Changes in our PBO and plan assets are as follows for the years ended December 31:
Millions of Dollars
Pension OPEB
2006 2005 2006 2005
Projected Benefit Obligation
Projected benefit obligation at beginning of year ............ $2,065 $2,058 $ 476 $ 453
Service cost .......................................... 35 28 44
Interest cost ......................................... 117 115 21 25
Plan amendments ..................................... --(38) (42)
Actuarial loss (gain) ................................... 16 (18) (58) 70
Gross benefits paid .................................... (120) (118) (31) (34)
Projected benefit obligation at end of year ................. $2,113 $2,065 $ 374 $ 476
Plan Assets
Fair value of plan assets at beginning of year ................ $1,707 $1,693 $-$-
Actual return on plan assets ............................. 243 123 --
Voluntary funded pension plan contributions .............. 150 ---
Non-qualified plan benefit payments ..................... 9931 34
Gross benefits paid .................................... (120) (118) (31) (34)
Fair value of plan assets at end of year ..................... $1,989 $1,707 $-$-
Funded status at end of year ................................ $ (124) $ (358) $(374) $(476)
Unrecognized net actuarial losses ........................ N/A 362 N/A 194
Unrecognized prior service cost (credit) ................... N/A 31 N/A (156)
Net amounts recognized at end of year ........................ $ (124) $35 $(374) $(438)
Amounts recognized in the statement of financial position as of December 31, 2006 and 2005 consist of:
Amounts Recognized at December 31, 2006
Millions of Dollars
Pension OPEB
2006 2005 2006 2005
Other assets .............................................. $45 N/A $- N/A
Other current liabilities .................................... (12) N/A (27) N/A
Retiree benefits obligation .................................. (157) N/A (347) N/A
Net amounts recognized at end of year ........................ $(124) N/A $(374) N/A
Amounts Recognized at December 31, 2005
Prepaid benefit cost ....................................... N/A $ 122 N/A $-
Accrued benefit cost ....................................... N/A (86) N/A (438)
Additional minimum liability ............................... N/A (369) N/A -
Intangible assets .......................................... N/A 31 N/A -
Accumulated other comprehensive income .................... N/A 337 N/A -
Net amounts recognized at end of year ........................ N/A $35 N/A $(438)
After-tax amounts recognized in accumulated other comprehensive income (loss) as of December 31, 2006
consist of:
Millions of Dollars Pension OPEB Total
Prior service (cost) credit ............................................... $ (15) $ 99 $ 84
Net actuarial (loss) ..................................................... (154) (50) (204)
Total ................................................................ $(169) $ 49 $(120)
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