CenturyLink 2015 Annual Report Download - page 181
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Unfunded Status
The following table presents the unfunded status of the pensions and post-retirement benefit plans:
Pension Plans
Post-Retirement
Benefit Plans
Years Ended
December 31,
Years Ended
December 31,
2015 2014 2015 2014
(Dollars in millions)
Benefit obligation ................................ $(13,349) (15,042) (3,567) (3,830)
Fair value of plan assets ............................ 11,072 12,571 193 353
Unfunded status .................................. (2,277) (2,471) (3,374) (3,477)
Current portion of unfunded status ................... $ (5) (6) (135) (134)
Non-current portion of unfunded status ................ $ (2,272) (2,465) (3,239) (3,343)
The current portion of our post-retirement benefit obligations is recorded on our consolidated balance sheets
in accrued expenses and other current liabilities-salaries and benefits.
Accumulated Other Comprehensive Loss-Recognition and Deferrals
The following tables present cumulative items not recognized as a component of net periodic benefits
expense as of December 31, 2014, items recognized as a component of net periodic benefits expense in 2015,
additional items deferred during 2015 and cumulative items not recognized as a component of net periodic
benefits expense as of December 31, 2015. The items not recognized as a component of net periodic benefits
expense have been recorded on our consolidated balance sheets in accumulated other comprehensive loss:
As of and for the Years Ended December 31,
2014
Recognition
of Net
Periodic
Benefits
Expense Deferrals
Net
Change
in
AOCL 2015
(Dollars in millions)
Accumulated other comprehensive loss:
Pension plans:
Net actuarial (loss) gain .............................. $(2,760) 161 (258) (97) (2,857)
Prior service (cost) benefit ............................ (32) 5 99 104 72
Deferred income tax benefit (expense) ................... 1,072 (63) 61 (2) 1,070
Total pension plans .................................. (1,720) 103 (98) 5 (1,715)
Post-retirement benefit plans:
Net actuarial (loss) gain .............................. (277) — 130 130 (147)
Prior service (cost) benefit ............................ (166) 19 — 19 (147)
Deferred income tax benefit (expense) ................... 171 (7) (50) (57) 114
Total post-retirement benefit plans ...................... (272) 12 80 92 (180)
Total accumulated other comprehensive loss .............. $(1,992) 115 (18) 97 (1,895)
B-73