FairPoint Communications 2011 Annual Report Download - page 108
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Table of Contents
Net periodic benefit cost
Components of the net periodic benefit cost related to the Company’s pension and post-retirement healthcare plans for the 341 days ended December 31,
2011, the 24 days ended January 24, 2011 and the years ended December 31, 2010 and 2009 are presented below (in thousands).
Service cost $11,885 $ 849 $11,187 $ 10,923
Interest cost 12,882 934 12,963 13,269
Expected return on plan assets (13,303) (1,089) (16,664) (20,575)
Amortization of prior service cost — 98 1,524 1,452
Amortization of actuarial loss — 283 2,087 813
Settlement loss 712 — — 18,420
Net periodic benefit cost $12,176 $1,075 $11,097 $24,302
Service cost $ 18,944 $1,167 $14,321 $13,020
Interest cost 19,859 1,252 16,347 13,889
Expected return on plan assets (13) (1) (3) —
Amortization of prior service cost — 276 4,289 4,293
Amortization of actuarial loss 303 368 3,474 3,487
Curtailment loss 925 — — —
Net periodic benefit cost $40,018 $ 3,062 $38,428 $34,689
Other pre-tax changes in plan assets and benefit obligations recognized in other comprehensive (income) loss are as follows for the 341 days ended
December 31, 2011, the 24 days ended January 24, 2011 and the years ended December 31, 2010 and 2009 (in thousands):
Amounts recognized in other comprehensive income (loss):
New prior service cost $ — $ — $ — $ —
Net loss arising during the period 71,573 — 39,170 920
Amortization or curtailment of prior service cost — (98) (1,524) (1,452)
Amortization or settlement recognition of net loss (712) (8,550) (2,087) (19,233)
Total amount recognized in other comprehensive income (loss) $70,861 $ (8,648) $35,559 $(19,765)
Estimated amounts that will be amortized from accumulated other comprehensive
income (loss) in the next fiscal year:
Prior service cost $ — $ — $ (126) $ (1,524)
Net actuarial loss (2,069) — (365) (1,115)
Total amount estimated to be amortized from accumulated other comprehensive income
(loss) in the next fiscal year $(2,069) $ — $(491) $(2,639)
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