FairPoint Communications 2013 Annual Report Download - page 83

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81
Plan Assets, Obligations and Funded Status
A summary of plan assets, projected benefit obligation and funded status of the plans are as follows for the year ended
December 31, 2013 and the year ended December 31, 2012 (in thousands):
Qualified Pension Plans
Year Ended
December 31, 2013
Year Ended
December 31, 2012
Fair value of plan assets:
Beginning fair value of plan assets $ 166,304 $ 160,293
Actual return on plan assets 18,883 13,931
Plan settlements (7,931) (3,517)
Employer contributions 21,800 19,842
Benefits paid (23,814) (24,245)
Ending fair value of plan assets 175,242 166,304
Projected benefit obligation:
Beginning projected benefit obligation $ 369,841 $ 318,254
Service cost 18,543 15,489
Interest cost 14,934 14,565
Plan settlements (7,931) (3,517)
Benefits paid (23,814) (24,245)
Actuarial loss (gain) (42,797) 49,295
Ending projected benefit obligation 328,776 369,841
Funded status $ (153,534) $ (203,537)
Accumulated benefit obligation $ 290,910 $ 323,432
Amounts recognized in the consolidated balance sheet:
Long-term liabilities $ (153,534) $ (203,537)
Net amount recognized in the consolidated balance
sheet $ (153,534) $ (203,537)
Amounts recognized in accumulated other
comprehensive loss:
Net actuarial loss $ (60,349) $ (116,835)
Net amount recognized in accumulated other
comprehensive loss $ (60,349) $ (116,835)