Coca Cola 2005 Annual Report Download - page 104
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THE COCA-COLA COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 15: PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Continued)
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, 2005 2004 2005 2004
Benefit obligation at beginning of year1$ 2,800 $ 2,495 $ 801 $ 761
Service cost 91 85 28 27
Interest cost 156 147 43 44
Foreign currency exchange rate changes (69) 71 —1
Amendments 2———
Actuarial (gain) loss2223 124 (63) (11)
Benefits paid3(133) (125) (25) (25)
Settlements (28) ———
Curtailments (7) 3——
Other 6—34
Benefit obligation at end of year1$ 3,041 $ 2,800 $ 787 $ 801
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.
2During 2004, our accumulated postretirement benefit obligation was reduced by $67 million due to
the adoption of FSP 106-2. Refer to Note 1.
3Benefits paid from pension benefit plans during 2005 and 2004 included $28 million and $25 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 2005 and 2004 were paid from Company assets.
The accumulated benefit obligation for our pension plans was $2,650 million and $2,440 million at
December 31, 2005 and 2004, respectively.
For pension plans with projected benefit obligations in excess of plan assets, the total projected benefit
obligation and fair value of plan assets were $1,391 million and $702 million, respectively, as of
December 31, 2005, and $1,112 million and $388 million, respectively, as of December 31, 2004. For pension
plans with accumulated benefit obligations in excess of plan assets, the total accumulated benefit obligation and
fair value of plan assets were $875 million and $331 million, respectively, as of December 31, 2005, and
$916 million and $341 million, respectively, as of December 31, 2004.
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