Foot Locker 2007 Annual Report Download - page 71

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55
The following tables set forth the changes in accumulated other comprehensive loss (pre-tax) at
February 2, 2008:
Pension
Benefits Postretirement
Benefits
(in millions)
Net actuarial loss (gain) at beginning of year . . . . . . . . . . . . . . . . . . . . . $ 274 $(53)
Amortization of net (loss) gain ............................... (11) 8
Loss (gain) arising during the year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 (2)
Translation loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 —
Net actuarial loss (gain) at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . $305 $ (47)
Net prior service cost (benefit) at beginning of year ................ $ 4 $ (7)
Amortization of prior service (cost) benefit ...................... (1) 1
Net prior service cost (benefit) at end of year ..................... $ 3 $ (6)
Total amount recognized ..................................... $308 $(53)
The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net
periodic benefit cost (income) during the next year are as follows:
Pension Postretirement
Benefits Total
(in millions)
Amortization of prior service cost (benefit) . . . . . . . . . . . . . . . . . . . . $ 1 $(1) $ —
Amortization of net loss (gain) .............................. $12 $(7) $ 5
The following represents the change to the Consolidated Balance Sheet as of February 3, 2007 as a result of the
adoption of SFAS No. 158:
Prior to
AML and
Statement
No. 158
Adjustments AML
Adjustment
Effect of
Adoption
Statement
No. 158
Post AML and
Statement
No. 158
Adjustments
(in millions)
Current assets ........................... $2,034 $ — $ — $2,034
Deferred taxes . . . . . . . . . . . . . . . . . . . . . . . . . . 144 (120) 85 109
Intangible assets . . . . . . . . . . . . . . . . . . . . . . . . 106 (1) — 105
Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75 — 8 83
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,277 (121) 93 3,249
Accrued liabilities . . . . . . . . . . . . . . . . . . . . . . . 246 — — 246
Total current liabilities .................... 516 — — 516
Other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . 300 (308) 226 218
Other comprehensive loss .................. (150) 187 (133) (96)
Total shareholders’ equity .................. 2,323 (121) 93 2,295
Total liabilities and shareholders’ equity ....... $3,277 $ (121) $ 93 $3,249
The following weighted-average assumptions were used to determine the benefit obligations under the plans:
Pension Benefits Postretirement
Benefits
2007 2006 2007 2006
Discount rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.84% 5.68% 6.10% 5.80%
Rate of compensation increase . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.72% 3.76%