E-Z-GO 2006 Annual Report Download - page 82

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Periodic Benefit Cost (Income)
The components of our net periodic benefit cost (income) and other amounts we recognized in other comprehensive income are as follows:
Postretirement Benefits
Pension Benefits Other Than Pensions
(In millions)
2006 2005 2004 2006 2005 2004
Net periodic benefit cost (income):
Service cost $ 142 $ 129 $ 106 $ 10 $ 9 $ 8
Interest cost 283 271 265 40 37 37
Expected return on plan assets (386) (387) (400) — — —
Amortization of unrecognized transition asset 1 1 1 — — —
Amortization of prior service cost (credit) 19 18 16 (5) (6) (9)
Amortization of net loss 44 35 7 19 13 9
Net periodic benefit cost (income) $ 103 $ 67 $ (5) $ 64 $ 53 $ 45
Other changes in plan assets and benefit
obligations recognized in other comprehensive
loss (including foreign exchange):
Net loss (gain) $ 538 $ (49) $ 95 $ 246 $ — $ —
Prior service cost (credit) 160 — — (12) — —
Total recognized in other comprehensive loss $ 698 $ (49) $ 95 $ 234 $ — $ —
Total recognized in net periodic benefit cost (income)
and other comprehensive loss $ 801 $ 18 $ 90 $ 298 $ 53 $ 45
We estimate that the net loss and prior service cost for the defined benefit pension plans that will be amortized from other comprehensive income
into net periodic benefit costs in 2007 will be $47 million and $18 million, respectively. The estimated net loss and prior service credit for postre-
tirement benefits other than pensions that will be amortized from other comprehensive income into net periodic benefit costs in 2007 will be $22
million and $(5) million, respectively.
Obligations and Funded Status
The changes in the projected benefit obligation and in the fair value of plan assets, along with our funded status are as follows:
Postretirement Benefits
Pension Benefits Other Than Pensions
(In millions)
2006 2005 2006 2005
Change in benefit obligation:
Benefit obligation at beginning of year $ 5,119 $ 4,931 $ 744 $ 658
Service cost 142 129 10 9
Interest cost 283 271 40 37
Amendments 18 16 6 1
Plan participants’ contributions 3355
Actuarial losses 39 97 12 108
Benefits paid (288) (277) (67) (73)
Foreign exchange rate changes 66 (51) — (1)
Benefit obligation at end of year $ 5,382 $ 5,119 $ 750 $ 744
Change in fair value of plan assets:
Fair value of plan assets at beginning of year $ 4,746 $ 4,537 $ — $ —
Actual return on plan assets 595 506 — —
Employer contributions 33 20 — —
Plan participants’ contributions 3 3 — —
Benefits paid (288) (277) — —
Foreign exchange rate changes 58 (43) — —
Fair value of plan assets at end of year $ 5,147 $ 4,746 $ — $ —
Funded status at end of year $ (235) $ (373) $ (750) $ (744)
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