Unum 2007 Annual Report Download - page 121
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Unum 2007 Annual Report 119
The amounts recognized in the consolidated balance sheets for our pension and postretirement benefit plans at December 31, 2007
and 2006 are as follows:
Pension Benefits
U.S. Plans Non U.S. Plans Postretirement Benefits
(in millions of dollars) 2007 2006 2007 2006 2007 2006
Current Pension Liability $ 3.3 $ 3.0 $ — $ — $ 13.5 $ 13.5
Noncurrent Pension Liability 117.2 225.3 1.7 9.7 163.9 167.0
Unfunded Liability $ 120.5 $ 228.3 $ 1.7 $ 9.7 $ 177.4 $ 180.5
Unrecognized Pension
and Postretirement Benefit Costs
Net Actuarial Loss $ (255.2) $ (298.3) $ (55.4) $ (64.5) $ (6.7) $ (13.4)
Prior Service Credit 3.6 8.3 — — 11.9 15.6
Transition Asset — — 0.2 0.3 — —
(251.6) (290.0) (55.2) (64.2) 5.2 2.2
Deferred Income Tax Asset (Liability) 89.7 101.6 15.2 18.9 (1.8) (0.7)
Total Included in Accumulated Other
Comprehensive Income (Loss) $ (161.9) $ (188.4) $ (40.0) $ (45.3) $ 3.4 $ 1.5
The following table provides the changes recognized in other comprehensive income for the year ended December 31, 2007.
Pension Benefits Postretirement
(in millions of dollars) U.S. Plans Non U.S. Plans Benefits
Accumulated Other Comprehensive Income (Loss) At Beginning of Year $ (188.4) $ (45.3) $ 1.5
Net Actuarial Loss
Amortization 19.2 3.0 —
Curtailment 7.2 — —
All Other Changes 16.7 6.1 6.7
Prior Service Credit
Amortization (3.1) — (3.8)
All Other Changes (1.6) — 0.1
Transition Asset
Amortization — (0.2) —
All Other Changes — 0.1 —
Change in Deferred Income Tax Asset (Liability) (11.9) (3.7) (1.1)
Accumulated Other Comprehensive Income (Loss) At End of Year $ (161.9) $ (40.0) $ 3.4