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Reliant FORM 10-K manual 2003 2002 Change in benefit obligation, Change in plan assets

Models: FORM 10-K

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The following details the unfunded status of the defined benefit plans and post-retirement benefits other than pensions, and the associated amounts recognized in the consolidated balance sheets as of December 31:

 

 

 

Defined benefit plans

Post-retirement benefits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2003

 

2002

 

 

2003

 

2002

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in benefit obligation:

 

 

 

 

 

 

 

 

 

 

 

Benefit obligation — beginning

$

6,187

$

6,053

 

$

568

$

529

 

Service cost

 

 

118

 

158

 

 

9

 

10

 

Interest cost

 

 

401

 

402

 

 

40

 

37

 

Plan participants’ contributions

 

 

7

 

12

 

 

3

 

2

 

Plan amendments

 

 

5

 

–

 

–

 

–

Actuarial loss (gain)

 

 

362

 

(19)

 

106

 

20

 

Divestitures/settlements

 

 

(116)

 

(386)

 

–

 

(3)

Benefits paid

 

 

(459)

 

(320)

 

(37)

 

(31)

Foreign exchange

 

 

850

 

287

 

 

65

 

4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Benefit obligation — ending

$

7,355

$

6,187

 

$

754

$

568

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in plan assets:

 

 

 

 

 

 

 

 

 

 

 

Fair value of plan assets — beginning

$

4,386

$

5,009

 

$

41

$

41

 

Actual return on plan assets

 

 

626

 

(270)

 

3

 

–

Employer contributions

 

 

399

 

153

 

 

31

 

28

 

Plan participants’ contributions

 

 

7

 

12

 

 

3

 

2

 

Divestitures/settlements

 

 

(170)

 

(424)

 

–

 

–

Benefits paid

 

 

(459)

 

(320)

 

(37)

 

(31)

Foreign exchange

 

 

626

 

226

 

 

9

 

1

 

 

 

 

 

 

 

 

 

 

 

 

Fair value of plan assets — ending

$

5,415

$

4,386

 

$

50

$

41

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unfunded status of the plans

$

(1,940)

$

(1,801)

$

(704)

$

(527)

Unrecognized net plan benefits existing at January 1, 1987

 

 

(1)

 

(4)

 

–

 

–

Unrecognized prior service cost (credit)

 

 

20

 

20

 

 

(29)

 

(31)

Unrecognized net actuarial losses (gains)

 

 

1,664

 

1,403

 

 

119

 

13

 

Contributions after measurement date

 

 

108

 

113

 

 

3

 

–

 

 

 

 

 

 

 

 

 

Net amount recognized

$

(149)

$

(269)

$

(611)

$

(545)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount recognized in the accompanying consolidated balance sheets consist of:

 

 

 

 

 

 

 

 

 

 

 

Other liabilities — long-term

$

(1,290)

$

(1,040)

$

(581)

$

(516)

Other liabilities — current

 

 

(72)

 

(93)

 

(30)

 

(29)

Intangible assets — net

 

 

42

 

41

 

 

–

 

–

Foreign currency translation adjustment

 

 

151

 

22

 

 

–

 

–

Accumulated other comprehensive loss

 

 

1,020

 

801

 

 

–

 

–

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net amount recognized

$

(149)

$

(269)

$

(611)

$

(545)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The following details selected information for defined benefit plans, all of which have accumulated benefit obligations in excess of the fair value of plan assets as of December 31:

 

 

2003

 

2002

 

 

 

 

 

 

 

 

 

 

Projected benefit obligation

$

7,355

$

6,187

Accumulated benefit obligation

$

6,797

$

5,562

Fair value of plan assets

$

5,415

$

4,386

 

 

 

 

 

F-49

Page 165 Page 167
Page 166
Image 166
Reliant FORM 10-K manual 2003 2002 Change in benefit obligation, Change in plan assets
Page 165 Page 167