Coca Cola 2003 Annual Report Download - page 89

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The Coca-Cola Company and Subsidiaries
NOTE 14: PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Continued)
Our Company uses a measurement date of December 31 for substantially all of our pension and
postretirement benefit plans.
Obligations and Funded Status
The following table sets forth the change in benefit obligations for our benefit plans (in millions):
Pension Benefits Other Benefits
December 31, 2003 2002 2003 2002
Benefit obligation at beginning of year1$ 2,182 $ 1,906 $ 651 $ 530
Service cost 76 63 25 18
Interest cost 140 132 44 38
Foreign currency exchange rate changes 90 11 1—
Amendments (2) 6(25) —
Actuarial loss 142 138 86 86
Benefits paid2(122) (121) (22) (23)
Business combinations —46 ——
Curtailments (23) —(6) —
Special termination benefits 12 —5—
Other —122
Benefit obligation at end of year1$ 2,495 $ 2,182 $ 761 $ 651
1For pension benefit plans, the benefit obligation is the projected benefit obligation. For other benefit
plans, the benefit obligation is the accumulated postretirement benefit obligation.
2Benefits paid from pension benefit plans during 2003 and 2002 included $27 million and $26 million,
respectively, in payments related to unfunded pension plans that were paid from Company assets. All
of the benefits paid from other benefit plans during 2003 and 2002 were paid from Company assets
because these plans are unfunded.
The accumulated benefit obligation for our pension plans was $2,145 million and $1,893 million at
December 31, 2003 and 2002, respectively.
The total projected benefit obligation and fair value of plan assets for the pension plans with projected
benefit obligations in excess of plan assets were $941 million and $311 million, respectively, as of December 31,
2003 and $2,016 million and $1,262 million, respectively, as of December 31, 2002. The total accumulated benefit
obligation and fair value of plan assets for the pension plans with accumulated benefit obligations in excess of
plan assets were $770 million and $274 million, respectively, as of December 31, 2003 and $1,733 million and
$1,243 million, respectively, as of December 31, 2002.
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