First Data 2011 Annual Report Download - page 108
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Year ended December 31,
(in millions) 2011 2010
U.K. Plan:
Plan benefit obligations $ 574.7 $ 528.9
Fair value of plan assets 588.4 529.1
Net pension asset (a) 13.7 0.2
U.S. and other foreign plans:
Plan benefit obligations 223.8 197.0
Fair value of plan assets 132.7 127.2
Net pension liabilities (b) $ 91.1 $ 69.8
Funded status of the plans $ (77.4)$ (69.6)
(a) Pension asset is included in the "Other long-term assets" line of the Consolidated Balance Sheets.
(b) Pension liabilities are included in the "Other long-term liabilities" line of the Consolidated Balance Sheets.
The accumulated benefit obligation for all defined benefit pension plans was $786.8 million and $724.5 million as of
December 31, 2011 and 2010, respectively.
The following table summarizes the activity in other comprehensive income, net of tax:
Year ended December 31,
(in millions) 2011 2010 2009
Total unrecognized gain/(loss) included in other comprehensive income at
the beginning of period $ (64.9) $ (93.4) $ (28.9)
Unrecognized gain/(loss) arising during the period (17.7) 27.1 (73.1)
Curtailment — — 7.7
U.K. plan benefit reinstatement (7.0) — —
Amortization of deferred gains/(losses) to net periodic benefit expense (a) 0.8 1.4 0.9
Total unrecognized gain/(loss) included in other comprehensive income at
end of period $ (88.8)$ (64.9)$ (93.4)
(a) Expected amortization of deferred losses to net periodic benefit expense in 2012 is $2.1 million pretax.
Amounts recorded in other comprehensive income represent unrecognized net actuarial gains and losses. The Company does not
have prior year service costs or credits or net transition assets or obligations.
The following table provides the components of net periodic benefit cost for the plans:
Year ended December 31,
(in millions) 2011 2010 2009
Service costs $ 6.1 $ 3.1 $ 6.6
Interest costs 39.8 40.0 37.6
Expected return on plan assets (46.5) (40.4) (35.3)
Amortization 1.3 2.2 1.3
Net periodic benefit expense $ 0.7 $ 4.9 $ 10.2
Assumptions. The weighted-average rate assumptions used in the measurement of the Company's benefit obligations are as
follows:
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