United Airlines 2007 Annual Report Download - page 120
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UAL Corporation and Subsidiary Companies
Combined Notes to Consolidated Financial Statements (Continued)
(9) Retirement and Postretirement Plans (Continued)
other postretirement plans. At exit the Company elected not to apply the corridor approach for amortization of unrecognized amounts included in accumulated
other comprehensive income. This policy may result in more volatility in the amortization of these unrecognized amounts into net periodic pension cost.
The following information relates to all pension plans with an accumulated benefit obligation and a projected benefit obligation in excess of plan assets:
December 31
(In millions)
2007
2006
Projected benefit obligation $ 208 $ 231
Accumulated benefit obligation 171 189
Fair value of plan assets 106 100
The net periodic benefit cost included the following components:
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,
2005
Pension Benefits
Service cost $ 8 $ 9 $ 1 $ 79
Interest cost 9 8 1 464
Expected return on plan assets (9) (8) (1) (392)
Amortization of prior service cost including
transition obligation — — — 21
Curtailment charge — — — 640
Settlement losses, net — — — 1,067
Recognized actuarial (gain) loss (1) — — 100
Net periodic benefit costs $ 7 $ 9 $ 1 $ 1,979
Other Benefits
Service cost $ 39 $ 33 $ 3 $ 42
Interest cost 121 116 11 131
Expected return on plan assets (3) (6) (1) (9)
Amortization of prior service cost including
transition obligation — — (13) (149)
Recognized actuarial (gain) loss (11) — 8 93
Net periodic benefit costs $ 146 $ 143 $ 8 $ 108
111
Source: UNITED AIR LINES INC, 10-K, February 29, 2008