FairPoint Communications 2010 Annual Report Download - page 106
Download and view the complete annual report
Please find page 106 of the 2010 FairPoint Communications annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96 -
97 -
98 -
99 -
100 -
101 -
102 -
103 -
104 -
105 -
106 -
107 -
108 -
109 -
110 -
111 -
112 -
113 -
114 -
115 -
116 -
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
 |
 |
Table of Contents
Components of the net periodic benefit (income) cost related to the Company’s pension and post-retirement healthcare plans for
the years ended December 31, 2010 and 2009 and the nine months ended December 31, 2008 are presented below.
Service cost $ 11,187 $ 10,923 $ 6,741 $ 14,321 $ 13,020 $ 7,018
Interest cost 12,963 13,269 9,383 16,347 13,889 8,196
Expected return on plan assets (16,664) (20,575) (15,745) (3) — —
Amortization of prior service cost 1,524 1,452 632 4,289 4,293 3,219
Amortization of actuarial loss 2,087 813 — 3,474 3,487 261
Settlement loss — 18,420 — — — —
Net periodic benefit cost $ 11,097 $ 24,302 $ 1,011 $ 38,428 $ 34,689 $ 18,694
The net periodic benefit (income) cost related to the Company’s pension plans was $0.9 million for the year ended December 31, 2008, of which ($0.1)
million related to net periodic benefit income for the three months ended March 31, 2008. The net periodic benefit cost related to the Company’s post-retirement
healthcare plans was $41.2 million for the year ended December 31, 2008, of which $22.5 million related to net periodic benefit cost for the three months
ended March 31, 2008.
Other pre-tax changes in plan assets and benefit obligations recognized in other comprehensive (income) loss are as follows for the years ended
December 31, 2010 and 2009 and the nine months ended December 31, 2008:
Amounts recognized in other
comprehensive income (loss):
New prior service cost $ — $ — $ 13,454 $ — $ — $ 123
Net loss arising during the year 39,170 920 94,340 55,427 12,524 37,675
Amortization or curtailment of
prior service cost (1,524) (1,452) (632) (4,289) (4,293) (3,219)
Amortization or settlement
recognition of net loss (2,087) (19,233) — (3,474) (3,487) (261)
Total amount recognized in other
comprehensive loss $ 35,559 $ (19,765) $ 107,162 $ 47,664 $ 4,744 $ 34,318
Estimated amounts that will be
amortized from accumulated
other comprehensive loss in the
next fiscal year:
Prior service cost $ (126) $ (1,524) $ (1,452) $ (357) $ (4,290) $ (4,292)
Net actuarial loss (365) (1,115) (623) (475) (3,110) (2,656)
Total amount estimated to be
amortized from accumulated
other comprehensive loss in the
next fiscal year $ (491) $ (2,639) $ (2,075) $ (832) $ (7,400) $ (6,948)
During the years ended December 31, 2010 and 2009, the Company did not make a contribution to the qualified pension plans, but did incur $1.5 million
and $0.4 million, respectively, in post-retirement healthcare plan expenditures. In 2011, the Company expects to make contributions of $6.8 million and
$2.5 million to its qualified pension plans and post-retirement healthcare plans, respectively.
105