Coca Cola 2008 Annual Report Download - page 121

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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 accumulated benefit obligation for our pension plans was approximately $3,209 million and
approximately $3,080 million as of December 31, 2008 and 2007, 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 $3,416 million and $2,051 million, respectively, as of
December 31, 2008, and $1,372 million and $691 million, respectively, as of December 31, 2007. 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 $2,881 million and $1,885 million, respectively, as of December 31,
2008, and approximately $996 million and $441 million, respectively, as of December 31, 2007.
The following table sets forth the change in the fair value of plan assets for our benefit plans (in millions):
Pension Benefits Other Benefits
December 31, 2008 2007 2008 2007
Fair value of plan assets at beginning of year1$ 3,428 $ 3,091 $ 246 $ 248
Actual return on plan assets (961) 269 (47) 13
Employer contributions 96 59 ——
Foreign currency exchange rate changes (118) 98 ——
Benefits paid (155) (118) (25) (18)
Business combinations —35 ——
Settlements (3) (1) ——
Other 3(5) 13
Fair value of plan assets at end of year1$ 2,290 $ 3,428 $ 175 $ 246
1Plan assets include 1.6 million shares of common stock of our Company with a fair value of
approximately $74 million and $99 million as of December 31, 2008 and 2007, respectively. Dividends
received on common stock of our Company during 2008 and 2007 were approximately $2.5 million
and $2.2 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, 2008 2007 2008 2007
Funded status — plan assets less than benefit obligations $ (1,328) $ (89) $ (255) $ (192)
Fourth quarter contribution —4——
Net liability recognized $ (1,328) $ (85) $ (255) $ (192)
Noncurrent asset $37$ 596 $—$—
Current liability (39) (42) —(1)
Long-term liability (1,326) (639) (255) (191)
Net liability recognized $ (1,328) $ (85) $ (255) $ (192)
119