Xerox 2009 Annual Report Download - page 74

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72 Xerox 2009 Annual Report
Notes to the Consolidated
Financial Statements
Dollars in millions, except per-share data and unless otherwise indicated.
Our domestic retirement defined benefit plans provide employees
a benefit, depending on eligibility, at the greater of (i) the benefit
calculated under a highest average pay and years of service formula,
(ii) the benefit calculated under a formula that provides for the
accumulation of salary and interest credits during an employee’s work
life, or (iii) the individual account balance from the Company’s prior
defined contribution plan (Transitional Retirement Account or TRA).
Benefit plans pre-tax amounts recognized in Accumulated other
comprehensive (income) loss as of December 31, 2009 and 2008:
Pension Benefits Retiree Health
2009 2008 2009 2008
Net actuarial loss (gain) $ 1,834 $ 1,818 $ 40 $ (85)
Prior service (credit) cost (169) (192) (144) (186)
Total Pre-tax Loss (Gain) $ 1,665 $ 1,626 $ (104) $ (271)
The Accumulated benefit obligation for all defined benefit pension plans
was $8,337 and $7,902 at December 31, 2009 and 2008, respectively.
Aggregate information for pension plans with an Accumulated benefit
obligation in excess of plan assets is presented below:
2009 2008
Projected benefit obligation $ 5,134 $ 5,374
Accumulated benefit obligation 4,864 5,051
Fair value of plan assets 3,697 3,821