Washington Post 2015 Annual Report Download - page 129

Download and view the complete annual report

Please find page 129 of the 2015 Washington Post annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 152

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152

The amounts recognized in the Company’s Consolidated Balance Sheets for its other postretirement plans are as
follows:
Postretirement Plans
As of December 31
(in thousands) 2015 2014
Current liability ................................. $ (3,444) $ (3,995)
Noncurrent liability .............................. (33,947) (37,962)
Recognized Liability ............................. $(37,391) $(41,957)
The discount rates utilized for determining the benefit obligation at December 31, 2015 and 2014, for the
postretirement plans were 3.45% and 3.25%, respectively. The assumed health care cost trend rate used in
measuring the postretirement benefit obligation at December 31, 2015, was 7.54% for pre-age 65, decreasing to
4.5% in the year 2024 and thereafter. The assumed health care cost trend rate used in measuring the
postretirement benefit obligation at December 31, 2015, was 9.18% for post-age 65, decreasing to 4.5% in the
year 2024 and thereafter.
Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. A
change of one percentage point in the assumed health care cost trend rates would have the following effects:
(in thousands)
1%
Increase
1%
Decrease
Benefit obligation at end of year ....................... $2,195 $(2,001)
Service cost plus interest cost ......................... $ 260 $ (229)
The Company made contributions to its postretirement benefit plans of $1.9 million and $4.5 million for the
years ended December 31, 2015 and 2014, respectively. As the plans are unfunded, the Company makes
contributions to its postretirement plans based on actual benefit payments.
At December 31, 2015, future estimated benefit payments are as follows:
(in thousands)
Postretirement
Plans
2016.......................................... $ 3,444
2017.......................................... $ 3,482
2018.......................................... $ 3,381
2019.......................................... $ 3,385
2020.......................................... $ 3,654
2021–2025 ..................................... $16,922
2015 FORM 10-K 114