Wells Fargo 2009 Annual Report Download - page 170

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
Amounts recognized in accumulated OCI (pre tax) for the year ended December 31, 2009 and 2008, consist of:
December 31,
2009 2008
Pension benefits Pension benefits
Non- Other Non- Other
(in millions) Qualified qualified benefits Qualified qualified benefits
Change in benefit obligation:
Benefit obligation at beginning of year $ 8,977 684 1,325 4,565 366 663
Service cost 210 8 13 291 15 13
Interest cost 595 43 83 276 22 40
Plan participants’ contributions ——79 ——39
Amendments (210) (22) (54) ———
Actuarial loss (gain) 1,063 46 120 (197) (15) (94)
Benefits paid (605) (79) (167) (317) (24) (65)
Foreign exchange impact 812 ———
Acquisitions ———4,359 317 727
Measurement date adjustment (1) ——— —32
Benefit obligation at end of year 10,038 681 1,401 8,977 684 1,325
Change in plan assets:
Fair value of plan assets at beginning of year 7,863 — 368 5,617 — 458
Actual return on plan assets 1,842 —48 (1,750) — (128)
Employer contribution 47948 260 24 22
Plan participants’ contributions ——79 ——39
Benefits paid (605) (79) (167) (317) (24) (65)
Foreign exchange impact 8—— ———
Acquisitions ———4,132 — 46
Measurement date adjustment (1) ——— (79) — (4)
Fair value of plan assets at end of year 9,112 — 376 7,863 — 368
Funded status at end of year $ (926) (681) (1,025) (1,114) (684) (957)
Amounts recognized in the balance sheet at end of year:
Liabilities $ (926) (681) (1,025) (1,114) (684) (957)
(1) Represents change in benefit obligation and plan assets during December 2007 to reflect an additional month of activity due to the change in measurement date from
November 30 to December 31 as required by FASB ASC 715.
In conjunction with our adoption of changes in account -
ing provisions for retirement benefits, we were required to
change the measurement date for our pension and postretire-
ment plan assets and benefit obligations from November 30
to December 31 beginning in 2008. To reflect this change,
we recorded an $8 million (after tax) adjustment to the 2008
beginning balance of retained earnings.
The net actuarial loss for the defined benefit pension
plans that will be amortized from accumulated OCI into net
periodic benefit cost in 2010 is $107 million. The net actuarial
loss and net prior service credit for the other postretirement
December 31,
2009 2008
Pension benefits Pension benefits
Non- Other Non- Other
(in millions) Qualified qualified benefits Qualified qualified benefits
Net actuarial loss $1,836 70 140 2,349 50 91
Net prior service credit 1 — (34) (7) (37) (38)
Net transition obligation —— 2 —— 3
Translation adjustments 1—— (2) — (2)
Total $1,838 70 108 2,340 13 54
The changes in the projected benefit obligation of pen -
sion benefits and the accumulated benefit obligation of other
benefits and the fair value of plan assets during 2009 and
2008, the funded status at December 31, 2009 and 2008, and
the amounts recognized in the balance sheet at December 31,
2009 and 2008, were:
Note 19: Employee Benefits and Other Expenses (continued)
plans that will be amortized from accumulated OCI into
net periodic benefit cost in 2010 are $1 million and
$4 million, respectively.