Visa 2015 Annual Report Download - page 114
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VISA INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
September 30, 2015
Summary of Plan Activities
Change in Benefit Obligation:
Other
Postretirement BenefitsPension Benefits
September 30, September 30,
2015 2014 2015 2014
(in millions)
Benefit obligation—beginning of fiscal year ......... $ 983 $ 897 $20$25
Service cost ................................... 47 46 ——
Interest cost ................................... 40 42 11
Actuarial loss (gain) ............................ 40 84 —(2)
Benefit payments .............................. (105) (83) (3) (4)
Plan amendment ............................... —(3) ——
Benefit obligation—end of fiscal year .............. $1,005 $ 983 $18$20
Accumulated benefit obligation ................... $ 994 $ 977 NA NA
Change in Plan Assets:
Fair value of plan assets—beginning of fiscal year . . . $1,117 $1,055 $—$—
Actual return on plan assets ..................... (6) 135 ——
Company contribution ........................... 16 10 34
Benefit payments .............................. (105) (83) (3) (4)
Fair value of plan assets—end of fiscal year ........ $1,022 $1,117 $—$—
Funded status at end of fiscal year ................ $17 $ 134 $ (18) $ (20)
Recognized in Consolidated Balance Sheets:
Non-current asset .............................. $36 $ 164 $—$—
Current liability ................................ (9) (7) (3) (3)
Non-current liability ............................. (10) (23) (15) (17)
Funded status at end of fiscal year ................ $17 $ 134 $ (18) $ (20)
Amounts recognized in accumulated other comprehensive income before tax:
Pension Benefits
Other
Postretirement Benefits
September 30, September 30,
2015 2014 2015 2014
(in millions)
Net actuarial loss (gain) ......................... $ 232 $ 121 $ (5) $ (7)
Prior service credit ............................. (9) (16) (5) (8)
Total ......................................... $ 223 $ 105 $ (10) $ (15)
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