Union Pacific 2007 Annual Report Download - page 68

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64
Amounts recognized in the statement of financial position as of December 31, 2007 and 2006 consist of:
Pension OPEB
Millions of Dollars 2007 2006 2007 2006
Noncurrent assets.........................................................
.
$ 120 $ 45 $ - $ -
Current liabilities..........................................................
.
(11) (12) (27) (27)
Noncurrent liabilities ...................................................
.
(163) (157) (299) (347)
Net amounts recognized at end of year.......................
.
$ (54) $(124) $(326) $(374)
Pre-tax amounts recognized in accumulated other comprehensive income/(loss) as of December 31, 2007
consist of:
Millions of Dollars Pension OPEB Total
Prior service (cost)/credit....................................................................... $ (18) $137 $ 119
Net actuarial loss..................................................................................... (158) (85) (243)
Total......................................................................................................... $(176) $ 52 $(124)
Pre-tax amounts recognized in accumulated other comprehensive income/(loss) as of December 31, 2006
consist of:
Millions of Dollars Pension OPEB Total
Prior service (cost)/credit....................................................................... $ (24) $ 161 $ 137
Net actuarial loss..................................................................................... (249) (126) (375)
Total......................................................................................................... $(273) $ 35 $(238)
Other pre-tax changes recognized in other comprehensive income during 2007 were as follows:
Millions of Dollars Pension OPEB Total
Prior service credit arising during the year............................................ $ - $(10) $ (10)
Net actuarial (gain)/loss arising during the year................................... (73) (32) (105)
Amortization of prior service (cost)/credit ........................................... (6) 33 27
Amortization of actuarial gain/(loss)..................................................... (18) (8) (26)
Total......................................................................................................... $(97) $(17) $(114)
Amounts included in accumulated other comprehensive income expected to be amortized into net periodic
cost (benefit) during 2008:
Millions of Dollars Pension OPEB Total
Prior service cost (credit) ...................................................................... $ 6 $(33) $(27)
Net actuarial loss..................................................................................... 5 6 11
Total......................................................................................................... $11 $(27) $(16)
Underfunded Accumulated Benefit Obligation – The accumulated benefit obligation (ABO) is the present value
of benefits earned to date, assuming no future salary growth. The underfunded accumulated benefit obligation
represents the difference between the ABO and the fair value of plan assets. At December 31, 2007, the only
pension plan that was underfunded was our non-qualified (supplemental) plan, which is not funded by