Coca Cola 2007 Annual Report Download - page 109
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THE COCA-COLA COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 16: 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, 2007 2006 2007 2006
Fair value of plan assets at beginning of year1$ 3,091 $ 2,637 $ 248 $19
Actual return on plan assets 269 339 13 5
Employer contributions 59 95 —224
Foreign currency exchange rate changes 98 62 ——
Benefits paid (118) (106) (18) —
Business combinations 35 68 ——
Settlements (1) ———
Other (5) (4) 3—
Fair value of plan assets at end of year1$ 3,428 $ 3,091 $ 246 $ 248
1Plan assets include 1.6 million shares of common stock of our Company with a fair value of
approximately $99 million and $77 million as of December 31, 2007 and 2006, respectively.
Dividends received on common stock of our Company during 2007 and 2006 were approximately
$2.2 million and $2.0 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, 2007 2006 2007 2006
Funded status—plan assets less than benefit obligations $ (89) $ (206) $ (192) $ (580)
Fourth quarter contribution 43——
Net prepaid asset (liability) recognized $ (85) $ (203) $ (192) $ (580)
Prepaid benefit cost $ 596 $ 494 $—$—
Current liability (42) (31) (1) —
Long-term liability (639) (666) (191) (580)
Net prepaid asset (liability) recognized $ (85) $ (203) $ (192) $ (580)
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