Twenty-First Century Fox 2014 Annual Report Download - page 75
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69
Changes in net periodic pension expense may occur in the future due to changes in the Company’s expected
rate of return on plan assets and discount rate resulting from economic events. The following table highlights the
sensitivity of the Company’s pension obligations and expense to changes in these assumptions, assuming all other
assumptions remain constant:
Changes in Assumption
Impact on Annual
Pension Expense Impact on PBO
0.25 percentage point decrease in discount rate .................... 6ncrease $10 million 6ncrease $112 million
0.25 percentage point increase in discount rate ..................... Decrease $10 million Decrease $105 million
0.25 percentage point decrease in expected rate of return on
assets ................................................................................. 6ncrease $5 million -
0.25 percentage point increase in expected rate of return on
assets ................................................................................. Decrease $5 million -
Fiscal 2015 net periodic pension expense for the Company’s pension plans is expected to be approximately
$90 million, as compared with the $108 million for fiscal 2014. The decrease is primarily due to improved asset
performance and plan changes which more than offset the impact of the change in discount rates.
Recent Accounting Pronouncements
See Note 2 – Summary of Significant Accounting Policies to the accompanying Consolidated Financial
Statements of Twenty-First Century Fox for discussion of recent accounting pronouncements.