Napa Auto Parts 2006 Annual Report Download - page 41

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39
The following table sets forth the funded status of the plans and the amounts recognized in the consolidated balance sheets at
December 31:
Amounts recognized in the consolidated balance sheets consist of: Pension Benefits Other Postretirement Benefits
(in thousands) 2006 2005 2006 2005
Other long-term asset $ 12,951 $ N/A $ N/A $ N/A
Other current liability (2,272) N/A (2,764) N/A
Other long-term liability (84,669) N/A (22,905) N/A
Prepaid benefit cost included in other long-term assets N/A 402,993 N/A N/A
Accrued benefit cost included in other long-term liabilities N/A (45,596) N/A (1,086)
Intangible asset included in other long-term assets N/A 163 N/A N/A
Accumulated other comprehensive (loss) income
related to the additional minimum liability N/A 11,832 N/A N/A
$ (73,990) $ 369,392 $ (25,669) $ (1,086)
Amounts recognized in accumulated other
comprehensive (loss) income consist of: Pension Benefits Other Postretirement Benefits
(in thousands) 2006 2005 2006 2005
Net actuarial loss $ 459,478 $ N/A $ 22,457 $ N/A
Prior service cost 2,410 N/A 1,904 N/A
$ 461,888 N/A $ 24,361 N/A
For the pension benets, the following table reects the total benets expected to be paid from the plans’ or the Company’s assets. Of
the pension benets expected to be paid in 2007, $2,272,000 is expected to be paid from employer assets. Expected contributions reect
amounts expected to be contributed to funded plans. For other postretirement benets, the table below reects only the Company’s
share of the benet cost without regard to income from federal subsidy payments received pursuant to the Medicare Prescription Drug
Improvement and Modernization Act of 2003 (MMA). Expected MMA subsidy payments, which will reduce the Company’s cost for the
plan, are shown separately.
Information about the expected cash ows for the pension plans and other post retirement benet plans follows:
Other Postretirement Benefits
Pension Net Employer Value Due to
Benefits Contribution MMA Subsidy
(in thousands) (Excluding MMA Subsidy)
Employer contribution
2007 (expected) $ 32,091 $ – $ –
Expected benefit payments
2007 39,274 3,515 751
2008 41,891 3,617 823
2009 45,354 3,661 561
2010 48,579 3,516 526
2011 52,316 3,246 –
2012 through 2016 352,274 13,890 –