Kodak 2004 Annual Report Download - page 83
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Please find page 83 of the 2004 Kodak annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Financials
81
2004 SUMMARY ANNUAL REPORT
The net pension amounts recognized on the Consolidated Statement of Financial Position at December 31, 2004 and 2003 for all major funded and
unfunded U.S. and Non-U.S. defi ned benefi t plans are as follows:
2004 2003
(Restated)
(in millions) U.S. Non-U.S. U.S. Non-U.S.
Change in Benefi t Obligation
Projected benefi t obligation at January 1 $ 6,588 $ 3,141 $ 6,239 $ 2,603
Acquisitions/divestitures (291) 36 — —
Service cost 119 38 119 38
Interest cost 381 169 410 148
Participant contributions — 7 — 14
Plan amendment — — — 18
Benefi t payments (707) (204) (692) (173)
Actuarial loss 451 220 513 115
Curtailments (66) (9) (1) (2)
Settlements — (85) — (6)
Special termination benefi ts — 52 — 3
Currency adjustments — 270 — 383
Projected benefi t obligation at December 31 $ 6,475 $ 3,635 $ 6,588 $ 3,141
Change in Plan Assets
Fair value of plan assets at January 1 $ 6,503 $ 2,432 $ 5,790 $ 1,805
Acquisitions/divestitures (291) 1 — —
Actual return on plan assets 945 302 1,381 378
Employer contributions 30 166 24 126
Participant contributions — 7 — 14
Settlements — — — (6)
Benefi t payments (707) (262) (692) (173)
Currency adjustments — 212 — 288
Fair value of plan assets at December 31 $ 6,480 $ 2,858 $ 6,503 $ 2,432
Funded Status at December 31 $ 5 $ (777) $ (84) $ (709)
Unrecognized:
Net transition obligation (asset) — (2) — (3)
Net actuarial loss 631 957 695 859
Prior service cost (gain) 5 91 7 36
Net amount recognized at December 31 $ 641 $ 269 $ 618 $ 183
Amounts recognized in the Statement of Financial Position for all major funded and unfunded U.S. and Non-U.S. defi ned benefi t plans are as follows:
2004 2003
(Restated)
(in millions) U.S. Non-U.S. U.S. Non-U.S.
Prepaid pension cost $ 803 $ 393 $ 776 $ 353
Accrued benefi t liability (162) (124) (158) (170)
Additional minimum pension liability (99) (674) (91) (572)
Intangible asset 2 57 3 94
Accumulated other comprehensive income 97 617 88 478
Net amount recognized at December 31 $ 641 $ 269 $ 618 $ 183
The prepaid pension cost asset amounts for the U.S. and Non-U.S. at December 31, 2004 and 2003 are included in other long-term assets. The
accrued benefi t liability and additional minimum pension liability amounts (net of the intangible asset amounts) for the U.S. and Non-U.S. at December 31,
2004 and 2003 are included in postretirement liabilities. The accumulated other comprehensive income amounts for the U.S. and Non-U.S. at December
31, 2004 and 2003 are included as a component of shareholders’ equity, net of taxes.