Twenty-First Century Fox 2014 Annual Report Download - page 132

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TWENTY-FIRST CENTURY FOX, INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
126
The components of net periodic benefits costs from continuing operations were as follows:
Pension benefits Postretirement benefits
For the years ended June 30,
2014 2013 2012 2014 2013 2012
(in millions)
Service cost benefits earned during the period ........... $ 73 $ 105 $ 78 $ 4 $ 4 $ 3
Interest costs on projected benefit obligations ............ 106 101 103 6 6 6
Expected return on plan assets .................................... (113) (110) (103) - - -
Amortization of deferred losses .................................. 41 79 32 3 3 -
Other ........................................................................... 1 2 6 - - (2)
N
et periodic benefits costs from continuing
operations ................................................................ $ 108 $ 177 $ 116 $ 13 $ 13 $ 7
Pension benefits Postretirement benefits
For the years ended June 30,
2014 2013 2012 2014 2013 2012
Additional information related to continuing
operations:
Weighted-average assumptions used to determine
benefit obligations
Discount rate .............................................................. 4.5 % 5.2 % 4.3 % 4.3 % 4.8 % 3.8 %
Rate of increase in future compensation .................... 4.6 % 4.4 % 6.2 % N/A N/A N/A
Weighted-average assumptions used to determine
net periodic benefit cost
Discount rate .............................................................. 5.2 % 4.3 % 5.7 % 4.8 % 3.8 % 5.3 %
Expected return on plan assets ................................... 7.0 % 7.0 % 7.0 % N/A N/A N/A
Rate of increase in future compensation .................... 4.4 % 6.2 % 6.1 % N/A N/A N/A
N/A – not applicable
The following assumed health care cost trend rates at June 30 were also used in accounting for postretirement
benefits:
Postretirement benefits
Fiscal 2014 Fiscal 2013
Health care cost trend rate ............................................................................................. 6.4 % 6.8 %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) .......... 4.5 % 5.0 %
Year that the rate reaches the ultimate trend rate ........................................................... 2028 2019
Assumed health care cost trend rates could have a significant effect on the amounts reported for the
postretirement health care plan. The effect of a one percentage point increase and one percentage point decrease in
the assumed health care cost trend rate would have the following effects on the results for fiscal 2014:
Service and
interest costs Benefit
obligation
(in millions)
One percentage point increase ........................................................................................ N/A $ 5
One percentage point decrease ........................................................................................ N/A $ (4)
N/A – not applicable