Visa 2011 Annual Report Download - page 106
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Table of Contents
VISA INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
September 30, 2011
(in millions, except as noted)
Benefit obligation and fair value of plan assets with obligations in excess of plan assets:
Pension Benefits
September 30,
2011 2010
(in millions)
Accumulated benefit obligation in excess of plan assets
Accumulated benefit obligation, end of year $ (839) $ (30)
Fair value of plan assets, end of year 783 —
Projected benefit obligation in excess of plan assets
Benefit obligation, end of year $ (839) $ (30)
Fair value of plan assets, end of year 783 —
Net periodic pension and other postretirement plan cost:
Pension Benefits
Other
Postretirement Benefits
Fiscal
2011 2010 2009 2011 2010 2009
(in millions)
Service cost $ 41 $ 45 $ 51 $ — $ — $ —
Interest cost 38 40 46 1 1 2
Expected return on assets (54) (50) (45) — — —
Amortization of:
Prior service credit (9) (9) (8) (3) (3) (3)
Actuarial loss (gain) 19 16 14 (1) (1) —
Net benefit cost 35 42 58 (3) (3) (1)
Settlement loss 2 — 3 — — —
Total net periodic benefit cost $ 37 $ 42 $ 61 $ (3) $ (3) $ (1)
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Pension Benefits
Other
Postretirement Benefits
2011 2010 2011 2010
(in millions)
Current year actuarial loss (gain) $ 124 $ (20) $ 7 $ (5)
Amortization of actuarial (loss) gain (21) (16) 1 1
Current year prior service cost (credit) — (12) — —
Amortization of prior service credit 9 9 3 3
Total loss (gain) recognized in other comprehensive income $ 112 $ (39) $ 11 $ (1)
Total recognized in net periodic benefit cost and other comprehensive income $ 149 $ 3 $ 8 $ (4)
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