Goldman Sachs 2009 Annual Report Download - page 141
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The accumulated bene t obligation for all de ned bene t pension plans was $1.31billion and $769million as of December2009
and November2008, respectively.
For plans in which the accumulated bene t obligation exceeded plan assets, the aggregate projected bene t obligation and
accumulated bene t obligation was $1.39billion and $1.29billion, respectively, as of December2009, and $426million
and $413million, respectively, as of November2008. The fair value of plan assets for each of these plans was $1.11billion and
$317million as of December2009 and November2008, respectively.
The components of pension expense/(income) and postretirement expense are set forth below:
Year Ended One Month Ended
December November November December
(in millions) 2009 2008 2007 2008
U.S. pension
Interest cost $ 25 $ 24 $ 22 $ 2
Expected return on plan assets (20) (33) (32) (2)
Net amortization 26 (1) 1 2
Total $ 31 $(10) $ (9) $ 2
Non-U.S. pension
Service cost $ 52 $ 84 $ 78 $ 3
Interest cost 34 41 34 3
Expected return on plan assets (36) (41) (36) (3)
Net amortization 2 2 10 –
Curtailment 1 – – –
Total $ 53 $ 86 $ 86 $ 3
Postretirement
Service cost $ 18 $ 26 $ 21 $ 1
Interest cost 27 31 23 2
Net amortization 22 23 19 2
Total $ 67 $ 80 $ 63 $ 5
Estimated 2010 amortization from accumulated other comprehensive income:
Actuarial loss/(gain) $46
Prior service cost/(credit) (9)
Transition obligation/(asset) (3)
Total $34
Goldman Sachs 2009 Annual Report
139
Notes to Consolidated Financial Statements