United Airlines 2008 Annual Report Download - page 118
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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:
(In millions) 2008 2007
December 31,
Projected benefit obligation .......................................... $211 $208
Accumulated benefit obligation ....................................... 175 171
Fair value of plan assets ............................................. 94 106
The net periodic benefit cost included the following components:
(In millions) 2008 2007
Period from
February 1 to
December 31,
2006
Period from
January 1
to January 31,
2006
Year Ended
December 31,
Successor Predecessor
Pension Benefits
Service cost ............................... $ 6 $ 8 $ 9 $ 1
Interest cost ............................... 8 9 8 1
Expected return on plan assets ................ (10) (9) (8) (1)
Recognized actuarial (gain) loss ............... (2) (1) — —
Net periodic benefit costs .................... $ 2 $ 7 $ 9 $ 1
Other Benefits,
Service cost ............................... $ 32 $ 39 $ 33 $ 3
Interest cost ............................... 122 121 116 11
Expected return on plan assets ................ (4) (3) (6) (1)
Amortization of prior service cost
including transition obligation ............... — — — (13)
Curtailment gain ........................... (1) — —
Recognized actuarial (gain) loss ............... (17) (11) — 8
Net periodic benefit costs .................... $132 $146 $143 $ 8
The assumptions below are based on country-specific bond yields and other economic data. The
weighted-average assumptions used for the benefit plans were as follows:
2008 2007 2008 2007
Pension Benefits
At
December 31,
Other Benefits
At
December 31,
Weighted-average assumptions used to determine benefit
obligations
Discount rate ..................................... 3.59% 4.16% 5.97% 6.27%
Rate of compensation increase ........................ 2.94% 3.22% — —
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