National Oilwell Varco 2002 Annual Report Download - page 39

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The change in benefit obligation, plan assets and the funded status of the defined pension plans in
the United States and the United Kingdom, and defined postretirement plans in the United States,
follows:
Pension benefits Postretirement benefits
At year end 2002 2001 2002 2001
(in thousands)
Benefit obligation at beginning of year 49,605$ 46,511$ 7,416$ 3,107$
Service cost 274 173 40 21
Interest cost 3,336 3,457 552 506
Actuarial (gain) loss 10,973 1,272 1,094 4,079
Benefits paid (2,996) (2,186) (645) (503)
Retiree contributions 161 99 32 -
Other 3,357 279 - 206
Benefit obligation at end of year 64,710$ 49,605$ 8,489$ 7,416$
Fair value of plan assets at beginning of year 51,211$ 60,062$ -$ -$
Actual return (9,335) (7,715) - -
Benefits paid (2,996) (2,186) (645) (503)
Contributions 1,621 450 645 503
Other 4,174 600 - -
Fair value of plan assets at end of year 44,675$ 51,211$ - -
Funded status (20,035)$ 1,606$ (8,489) (7,416)
Unrecognized actuarial net loss/ (gain) 31,815 7,662 4,270 3,389
Prior service costs not yet recognized 281 303 213 257
Minimum pension liability (19,698) - - -
Other (10,543) (9,223)
Prepaid (accrued) benefit cost (18,180)$ 348$ (4,006) (3,770)
37