First Data 2009 Annual Report Download - page 249

Chase Paymentech
NOTES TO COMBINED FINANCIAL STATEMENTS
For the years ended December 31, 2007 and 2006 and
the year ended December 31, 2005 (unaudited) (Continued)
A summary of the Pension Plan’s and the SERP’s change in benefit obligation, change in plan assets, and
funded status are as follows as of and for the years ended December 31, 2007 and 2006 (in thousands):
Pension Plan SERP
2007 2006 2007 2006
Change in benefit obligation:
Benefit obligation at beginning of year ............................. $21,001 $18,445 $ 587 $ 443
Service cost ................................................... 4,238 3,690 181 137
Interest cost ................................................... 1,218 1,027 38 31
Benefits paid .................................................. (2,368) (2,590) (121) (133)
Actuarial (gain)/loss ............................................ (283) 429 24 109
Benefit obligation at end of year .................................. 23,806 21,001 709 587
Change in plan assets:
Fair value of plan assets at beginning of year ........................ 17,766 14,897 — —
Actual return on plan assets ...................................... 965 1,809 — —
Employer contributions ......................................... 6,200 3,650 121 133
Benefits paid .................................................. (2,368) (2,590) (121) (133)
Fair value of plan assets at end of year .............................. 22,563 17,766 — —
Funded status ................................................. $(1,243) $ (3,235) $(709) $(587)
Amounts related to the funded statuses of the Pension Plan and SERP are included in other non-current
liabilities in the combined balance sheets.
Amounts recognized in accumulated other comprehensive income, net of tax, at December 31, 2007 and
2006 consisted of (in thousands):
Pension Plan SERP
2007 2006 2007 2006
Adjustment for the adoption of SFAS 158 .............................. $ — $2,163 $— $ 62
Net actuarial loss .................................................. 2,264 — 80 —
Prior service cost/(credit) ........................................... 14 — (9) —
Amounts recognized in accumulated other comprehensive income ........... $2,278 $2,163 $ 71 $ 62
The estimated net actuarial loss and prior service cost that will be amortized from accumulated other
comprehensive income, pre-tax, into net periodic benefit cost during 2008 are $118 thousand and $5 thousand for
the Pension Plan, respectively. The estimated net actuarial loss and prior service credit that will be amortized
from accumulated comprehensive income, pre-tax, into net periodic benefit cost during 2008 are $5 thousand and
$3 thousand for the SERP, respectively.
The Pension Plan’s and SERP’s accumulated benefit obligations were $23.8 million and $709 thousand,
respectively, at December 31, 2007, and $21.0 million and $587 thousand, respectively, at December 31, 2006.
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