Kodak 2000 Annual Report Download - page 55

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The Company re c o rded a $3 million curtailment gain in 2000 and
a $9 million curtailment loss in 1999 as a result of the re d u c t i o n
in employees from the 1997 re s t ructuring program. Additionally,
the Company re c o rded a $10 million curtailment gain in 1999 as
a result of the sale of the Office Imaging business, which was
included in the gain on the sale.
The weighted as s umptions us ed to compute pension
amounts for major plans were as follows:
2 0 0 0 1 9 9 9
U . S . N o n - U . S . U . S . N o n - U . S .
Discount rate 7 . 5 % 6 . 1 % 7 . 5 % 6 . 1 %
S a l a ry increase
r a t e 4 . 3 % 3 . 1 % 4 . 3 % 3 . 2 %
L o n g - t e rm rate
of re t u rn on
plan assets 9 . 5 % 8 . 7 % 9 . 5 % 8 . 7 %
The C ompany also sponsors an unfunded plan for certain U.S.
employees, primarily executives. The benefits of this plan are
obtained by applying KRIP provisions to all compensation, includ-
ing amounts being deferred, and without re g a rd to the legislated
qualified plan maximums, reduced by benefits under KRIP. At
December 31, 2000 and 1999, the projected benefit obligations
of this plan amounted to $187 million and $192 million, re s p e c-
t i v e l y. The Company had re c o rded long-term liabilities at those
dates of $171 million and $174 million, re s p e c t i v e l y. Pension
expense re c o rded in 2000, 1999 and 1998 related to this plan
was $34 million, $21 million and $26 million, re s p e c t i v e l y.
54
Pension expense (income) for all plans included:
2 0 0 0 1 9 9 9 1 9 9 8
(in millions) U . S . N o n - U . S . U . S . N o n - U . S . U . S . N o n - U . S .
S e rvice cost $8 9 $ 3 3 $1 0 7 $ 3 4 $ 1 2 2 $ 3 3
I n t e rest cost 4 0 8 1 0 7 4 2 6 1 1 1 4 4 4 1 1 8
Expected re t u rn on plan assets ( 5 7 2 ) ( 1 4 7 ) ( 5 3 7 ) ( 1 3 7 ) ( 5 5 1 ) ( 1 3 7 )
A m o rtization of:
Transition asset ( 5 9 ) ( 1 0 ) ( 5 9 ) ( 1 0 ) ( 6 0 ) ( 9 )
Prior service cost 1 8 1 0 8 1 2 8
Actuarial loss – 3 21 0 1 1 5
( 1 3 3 ) ( 6 ) ( 5 1 ) 1 6 ( 2 2 ) 1 8
C u rt a i l m e n t s ( 3 ) – ( 1 ) – 7 1
S e t t l e m e n t s – 1 – – – 1
Net pension (income) expense ( 1 3 6 ) ( 5 ) ( 5 2 ) 1 6 ( 1 5 ) 2 0
Other plans including unfunded plans 4 1 6 9 3 3 5 1 3 6 4 6
Total net pension (income) expense $( 9 5 ) $ 6 4 $( 1 9 ) $ 6 7 $ 2 1 $ 6 6