Huntington National Bank 2009 Annual Report Download - page 184
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The followin
g
table shows the components of net periodic benefit cost reco
g
nized in the three
y
ear
s
en
d
e
d
Decem
b
er 31
,
2009
:
2009 2008 2007 2009 2008 2007
Pens
i
on Bene
fi
ts Post-Ret
i
rement Bene
fi
t
s
(
In thousands
)
Serv
i
ce cost
................
$
23
,
69
2
$
23
,
680
$
19
,
08
7
$
1
,
55
0
$
1
,
679
$
1
,
608
I
n
te
r
est cost
................
28,036
26,
804 24
,
408
3,2
7
4
3
,6
12 2
,
989
Ex
p
ecte
d
return on
pl
an assets .
.
(
41
,
960
)
(
39,14
5) (
37,0
5
6
)
—
——
Amort
i
zat
i
on o
f
trans
i
t
i
on asset.
.
6
54
920
1,104 1,104
Amortization of
p
rior service
cost
....................
(
553
)
314 1
91
3
7
93
7
9
A
mort
i
zat
i
on o
fg
a
i
n
.........
8,689
——
(
888
)
(
1,09
5) (
368
)
C
urta
il
ments
................
—
——
(
527
)
——
S
ett
l
ement
s
................
6,213
7
,099 2,218
—
——
Reco
g
nized net actuarial loss . .
.
—
3,55
011
,
076
—
——
Bene
fi
t cost
................
$24
,
12
3
$
22
,
307
$
19
,
73
8
$4
,
42
0
$
5
,
679
$
5
,
712
Included in benefit costs are
$
0.7 million,
$
0.6 million and
$
0.4 million of
p
lan ex
p
enses that wer
e
reco
g
n
i
ze
di
nt
h
et
h
ree
y
ears en
d
e
d
Decem
b
er 31, 2009, 2008 an
d
2007. It
i
s Hunt
i
n
g
ton’s po
li
c
y
to reco
g
n
i
z
e
settlement
g
ains and losses as incurred. Mana
g
ement expects net periodic pension cost, excludin
g
an
y
expens
e
of settlements, to a
pp
roximate
$
16.2 million for 2010. There will be no net
p
eriodic
p
ost-retirement benefit
s
costs
i
n 2010, as t
h
e postret
i
rement me
di
ca
l
an
d lif
esu
b
s
idy
was e
li
m
i
nate
df
or an
y
one t
h
at ret
i
res on or a
f
ter
March 1
,
2010
.
T
h
e est
i
mate
d
trans
i
t
i
on o
blig
at
i
on, pr
i
or serv
i
ce cost (cre
di
t) an
d
net actuar
i
a
ll
oss
f
or t
h
ep
l
ans t
h
at w
ill
be amortized from accumulated other com
p
rehensive loss into net
p
eriodic benefit cost over the next fisca
l
y
ear is less than
$
1 million,
$
(6.8) million and
$
13.9 million, respectivel
y
.
Un
d
er t
h
eMe
di
care Prescr
i
pt
i
on Dru
g
, Improvement an
d
Mo
d
ern
i
zat
i
on Act o
f
2003, Hunt
i
n
g
ton
h
a
s
re
g
istered for the Medicare subsid
y
and a resultin
g$
15.5 million reduction in the post-retirement obli
g
ation i
s
bein
g
reco
g
nized over a 10-
y
ear period be
g
innin
g
October 1, 2005.
17
6