Coca Cola 2004 Annual Report Download - page 102
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The Coca-Cola Company and Subsidiaries
NOTE 14: PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Continued)
The following table sets forth the change in the fair value of plan assets for our benefit plans (in millions):
Pension Benefits Other Benefits
December 31, 2004 2003 2004 2003
Fair value of plan assets at beginning of year1$ 2,024 $ 1,452 $— $—
Actual return on plan assets 243 405 1—
Employer contributions 179 208 9—
Foreign currency exchange rate changes 51 54 ——
Benefits paid (100) (95) ——
Fair value of plan assets at end of year1$ 2,397 $ 2,024 $10 $—
1Plan assets include 1.6 million shares of common stock of our Company with a fair value of
$67 million and $82 million as of December 31, 2004 and 2003, respectively. Dividends received on
common stock of our Company during 2004 and 2003 were $1.6 million and $1.4 million, respectively.
The pension and other benefit amounts recognized in our consolidated balance sheets are as follows
(in millions):
Pension Benefits Other Benefits
December 31, 2004 2003 2004 2003
Funded status—plan assets less than benefit obligations $ (403) $ (471) $ (791) $ (761)
Unrecognized net actuarial loss 447 429 187 203
Unrecognized prior service cost (benefit) 47 55 (6) (7)
Net prepaid asset (liability) recognized $91$13$ (610) $ (565)
Prepaid benefit cost $ 527 $ 407 $—$—
Accrued benefit liability (595) (519) (610) (565)
Intangible asset 15 16 ——
Accumulated other comprehensive income 144 109 ——
Net prepaid asset (liability) recognized $91$13$ (610) $ (565)
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