Equifax 2002 Annual Report Download - page 60

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Pension Benefits Other Benefits
2002 2001 2002 2001
Funded status $(101.7) $3.7 $(24.5) $(23.1)
Unrecognized actuarial loss 210.5 75.0 8.0 2.3
Unrecognized prior service cost 0.9 0.2 (0.4) (0.6)
Net amount recognized $109.7 $78.9 $(16.9) $(21.4)
Pension Benefits Other Benefits
Amounts recognized in the statement of financial position consist of: 2002 2001 2002 2001
Prepaid benefit cost $13.3 $97.3 $ – $–
Accrued benefit liability (91.6) (26.3) (16.9) (21.4)
Intangible asset 0.8 0.1 ––
Accumulated other comprehensive income 187.2 7.8 ––
Net amount recognized $109.7 $78.9 $(16.9) $(21.4)
Pension Benefits Other Benefits
Weighted-average assumptions as of December 31 2002 2001 2002 2001
Discount rate 6.75% 7.25% 6.75% 7.25%
Expected return on plan assets 9.50% 9.50% 9.50% 5.00%
Rate of compensation increase 4.25% 4.25% N/A N/A
For measurement purposes, a 9 percent annual rate of increase in the per capita cost of covered health care benefits was assumed for
2003. The rate was assumed to decrease gradually to 5 percent for 2007 and remain at that level thereafter.
Net pension (income) expense for the plans include the following (income) expense components:
Pension Benefits Other Benefits
(In millions) 2002 2001 2000 2002 2001 2000
Service cost $4.8 $5.8 $5.9 $0.7 $0.7 $0.8
Interest cost 30.8 31.9 32.8 1.6 1.6 1.6
Expected return on plan assets (47.3) (47.1) (46.3) (0.4) ––
Amortization of initial unrecognized net (asset) –0.1 (0.1) –––
Amortization of prior service cost –0.3 0.7 (0.2) (0.5) (1.0)
Recognized actuarial loss 0.2 0.1 0.4 –––
Curtailment gain ––(1.3) ––(0.8)
Settlement gain –0.3 – –––
Net pension income $(11.5) $(8.6) $(7.9) $1.7 $1.8 $0.6
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