United Airlines 2010 Annual Report Download - page 125
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Net periodic benefit cost for the years ended December 31, included the following components (in millions):
2010
Pension Benefits Other Postretirement Benefits
UAL United
Continental
Successor
Continental
Predecessor UAL United
Continental
Successor
Continental
Predecessor
Service cost ...................... $27 $ 6 $ 21 $ 50 $ 33 $ 30 $ 3 $ 7
Interest cost ...................... 51 9 42 119 120 116 4 10
Expected return on plan assets ....... (39) (9) (30) (82) (2) (2) — —
Curtailment gain .................. (7) — (7) — — — — —
Amortization of prior service cost
(credit) ....................... (2) (2) — 7 — — — 16
Special termination benefits ......... 4 — 4 — — — — —
Amortization of unrecognized actuarial
(gain) loss ..................... 1 1 — 65 (12) (12) — (3)
Net periodic benefit cost ............ $35 $ 5 $ 30 $159 $139 $132 $ 7 $ 30
2009 2008
Pension Benefits
Other
Postretirement
Benefits Pension Benefits
Other
Postretirement
Benefits
UAL &
United
Continental
Predecessor
UAL &
United
Continental
Predecessor
UAL &
United
Continental
Predecessor
UAL &
United
Continental
Predecessor
Service cost ............ $ 6 $ 65 $ 28 $ 11 $ 6 $ 59 $ 32 $ 12
Interest cost ............ 8 153 114 15 8 149 122 15
Expected return on plan
assets ............... (7) (89) (4) — (10) (157) (4) —
Curtailment gain ........ (1) — (9) — — — (1) —
Amortization of prior
service cost .......... — 10 — 21 — 10 — 21
Amortization of
unrecognized actuarial
(gain) loss ........... 2 111 (20) (2) (2) 34 (17) (1)
Net periodic benefit
cost ................ $ 8 $250 $109 $ 45 $ 2 $ 95 $132 $ 47
Settlement charges
(included in special
items) ............... — 29 — — — 52 — —
Net benefit expense ...... $ 8 $279 $109 $ 45 $ 2 $ 147 $132 $ 47
The Continental settlement charges in 2009 and 2008, which were classified as special items, are non-cash
charges related to lump sum distributions from the Continental pilot-only defined benefit pension plan to pilots
who retired. Settlement accounting is required if, for a given year, the cost of all settlements exceeds, or is
expected to exceed, the sum of the service cost and interest cost components of net periodic pension expense for
a plan. Under settlement accounting, unrecognized plan gains or losses must be recognized immediately in
proportion to the percentage reduction of the plan’s projected pension benefit obligation.
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