DTE Energy 2010 Annual Report Download - page 30

Download and view the complete annual report

Please find page 30 of the 2010 DTE Energy 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 39

  • 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

28
The following table reconciles the obligations, assets and funded status of the Company’s portion of the pension plans as well as the
amounts recognized as prepaid pension cost in the Consolidated Statements of Financial Position at December 31:
(in Millions)
2010
2009
Accumulated benefit obligation, end of year
$ 709
$ 667
Change in projected benefit obligation
Projected benefit obligation, beginning of year
$ 722
$ 627
Service cost
11
9
Interest cost
41
42
Actuarial loss
35
87
Benefits paid
(42)
(43)
Projected benefit obligation, end of year
$ 767
$ 722
Change in plan assets
Plan assets at fair value, beginning of year
$ 842
$ 749
Actual return on Plan assets
94
136
Benefits paid
(42)
(43)
Plan assets at fair value, end of year
$ 894
$ 842
Funded status of the Plans, December 31
$ 127
$ 120
Amounts recorded as:
Noncurrent assets
$ 178
$ 154
Current liabilities
(1)
(1)
Noncurrent liabilities
(50)
(33)
$ 127
$ 120
(in Millions)
Amounts recognized in Regulatory assets and Accumulated other comprehensive loss
Net actuarial loss
$ 419
$ 414
Prior service cost
(4)
(4)
$ 415
$ 410
Regulatory assets
$ 413
$ 409
Other comprehensive loss
2
1
$ 415
$ 410
Assumptions used in determining the projected benefit obligation and net pension costs are listed below:
2010
2009
2008
Projected benefit obligation
Discount rate
5.50%
5.90%
6.90%
Rate of compensation increase
4.00%
4.00%
4.00%
Net pension costs
Discount rate
5.90%
6.90%
6.50%
Rate of compensation increase
4.00%
4.00%
4.00%
Expected long-term rate of return on Plan assets
8.75%
8.75%
8.75%