Coca Cola 2006 Annual Report Download - page 110
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THE COCA-COLA COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 16: 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, 2006 2005 2006 2005
Benefit obligation at beginning of year1$ 2,806 $ 2,592 $ 787 $ 801
Service cost 104 88 31 28
Interest cost 158 146 46 43
Foreign currency exchange rate changes 53 (56) (1) —
Amendments 42——
Actuarial (gain) loss (41) 186 (25) (63)
Benefits paid2(127) (123) (23) (25)
Business combinations 95 —10 —
Settlements (10) (28) ——
Curtailments —(7) ——
Other 3633
Benefit obligation at end of year1$ 3,045 $ 2,806 $ 828 $ 787
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 2006 and 2005 included $31 million and $28 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 2006 and 2005 were paid from Company assets.
The accumulated benefit obligation for our pension plans was $2,648 million and $2,428 million at
December 31, 2006 and 2005, 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 $1,339 million and $642 million, respectively, as of December 31,
2006, and $1,156 million and $470 million, respectively, as of December 31, 2005. For pension plans with
accumulated benefit obligations in excess of plan assets, the total accumulated benefit obligation and fair value
of plan assets were $852 million and $278 million, respectively, as of December 31, 2006, and $875 million and
$331 million, respectively, as of December 31, 2005.
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