Union Pacific 2009 Annual Report Download - page 70

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70
Pre-tax amounts recognized in accumulated other comprehensive income/(loss) as of December 31, 2008
consist of:
Millions of Dollars
P
ensio
n
OPEB Tota
l
Prior service (cost)/credit $ (12) $ 111 $ 99
Net actuarial loss (1,023) (172) (1,195)
Total $ (1,035) $ (61) $ (1,096)
Other pre-tax changes recognized in other comprehensive income during 2009, 2008 and 2007 were as
follows:
Pension OPEB
Millions of Dollars 2009 2008 2007 2009 2008 2007
Prior service credit
$
- $ -
$
- $ (78)
$
(9) $ (10)
Net actuarial (gain)/loss (51) 875 (73) (21) 101 (32)
Amortization of:
Prior service cost/(credit) (5) (6) (6) 44 34 33
Actuarial loss (30) (10) (18) (12) (13) (8)
Total
$
(86) $ 859 $ (97) $ (67) $ 113 $ (17)
Amounts included in accumulated other comprehensive income expected to be amortized into net
periodic cost (benefit) during 2010:
Millions of Dollars
P
ensio
n
OPEB Tota
l
Prior service cost (credit) $ 4 $ (44) $ (40)
Net actuarial loss 43 13 56
Total $ 47 $ (31) $ 16
Underfunded Accumulated Benefit Obligation – The accumulated benefit obligation (ABO) is the present
value of benefits earned to date, assuming no future salary growth. The underfunded accumulated benefit
obligation represents the difference between the ABO and the fair value of plan assets. At December 31,
2008, the only pension plan that was underfunded was our non-qualified (supplemental) plan, which is
not funded by design. At December 31, 2009, the non-qualified (supplemental) plan ABO was $229
million. The PBO, ABO, and fair value of plan assets for pension plans with accumulated benefit
obligations in excess of the fair value of the plan assets were as follows for the years ended December 31:
Underfunded Accumulated Benefit Obligation
Millions of Dollars 2009 2008
Projected benefit obligation $ (2,431
)
$ (2,272)
Accumulated benefit obligation $ (2,389
)
$ (2,201)
Fair value of plan assets 2,026 1,543
Underfunded accumulated benefit obligation $ (363
)
$ (658
)