Coca Cola 2007 Annual Report Download - page 108

Download and view the complete annual report

Please find page 108 of the 2007 Coca Cola annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 152

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152

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, 2007 2006 2007 2006
Benefit obligation at beginning of year1$ 3,297 $ 3,041 $ 828 $ 787
Service cost 123 108 40 31
Interest cost 191 168 34 46
Foreign currency exchange rate changes 117 79 1(1)
Amendments 48 4(342) —
Actuarial (gain) loss (189) (55) (95) (25)
Benefits paid2(159) (137) (31) (23)
Business combinations 103 96 —10
Settlements (23) (10) ——
Curtailments 1———
Special termination benefits 7———
Other 1333
Benefit obligation at end of year1$ 3,517 $ 3,297 $ 438 $ 828
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 2007 and 2006 included approximately
$41 million and $31 million, respectively, in payments related to unfunded pension plans that were
paid from Company assets. Benefits paid from other benefit plans during 2007 and 2006 included
approximately $13 million and $23 million, respectively, that were paid from Company assets.
The accumulated benefit obligation for our pension plans was approximately $3,080 million and approximately
$2,885 million as of December 31, 2007 and 2006, 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 approximately $1,372 million and $691 million, respectively, as of December 31,
2007, and $1,591 million and $890 million, respectively, as of December 31, 2006. For pension plans with accumulated
benefit obligations in excess of plan assets, the total accumulated benefit obligation and fair value of plan assets were
approximately $996 million and $441 million, respectively, as of December 31, 2007, and approximately $852 million
and $278 million, respectively, as of December 31, 2006.
106