United Airlines 2007 Annual Report Download - page 119
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UAL Corporation and Subsidiary Companies
Combined Notes to Consolidated Financial Statements (Continued)
(9) Retirement and Postretirement Plans (Continued)
Pension Benefits
Other Benefits
Successor
Predecessor
Successor
Predecessor
(In millions)
Year Ended
December 31,
2007
Period from
February 1 to
December 31,
2006
Period from
January 1 to
January 31,
2006
Year Ended
December 31,
2007
Period from
February 1 to
December 31,
2006
Period from
January 1 to
January 31,
2006
Change in Plan Assets
Fair value of plan
assets at beginning
of period $ 152 $ 136 $ 132 $ 54 $ 116 $ 116
Actual return on plan
assets 9 12 2 3 3 1
Employer contributions 14 11 1 150 77 14
Plan participants'
contributions 1 1 — 56 52 4
Foreign currency
exchange rate
changes 6 5 2 — — —
Expected transfer out (4) — — — — —
Benefits paid (11) (13) (1) (207) (194) (19)
Fair value of plan
assets at end of
period $ 167 $ 152 $ 136 $ 56 $ 54 $ 116
Funded status $ (69) $ (99) $ (111) $ (1,931) $ (2,062) $ (2,107)
Unrecognized actuarial
(gains) losses (a) (a) 43 (a) (a) 1,600
Unrecognized prior
service costs (a) (a) 1 (a) (a) (1,531)
Unrecognized net
transition obligation (a) (a) 3 (a) (a) —
Net amount recognized $ (69) $ (99) $ (64) $ (1,931) $ (2,062) $ (2,038)
(a)
Amounts are not applicable due to the adoption of SFAS 158 in 2006, which eliminated the accounting requirements for the recognition of additional minimum liability and
intangible assets.
Pension Benefits
Other Benefits
Year Ended
December 31,
Year Ended
December 31,
(In millions)
2007
2006
2007
2006
Amounts recognized in the Statements of Consolidated Financial
Position consist of:
Non-current asset $ 33 $ 31 $ — $ —
Current liability (5) — (102) (107)
Non-current liability (97) (130) (1,829) (1,955)
Net amount recognized $ (69) $ (99) $ (1,931) $ (2,062)
Amounts recognized in accumulated other comprehensive income
consist of:
Net actuarial gain $ 43 $ 13 $ 254 $ 120
The estimated amounts that will be amortized from accumulated other comprehensive income into net periodic benefit cost in 2008 for actuarial gains are
$1 million for pension plans and $17 million for
110
Source: UNITED AIR LINES INC, 10-K, February 29, 2008