Regions Bank 2009 Annual Report Download - page 171

The following table sets forth the plans’ change in benefit obligation, plan assets and the funded status of
the pension and other postretirement benefits plans, using a December 31 measurement date, and amounts
recognized in the consolidated balance sheets at December 31:
Pension
Other
Postretirement
Benefits
2009 2008 2009 2008
(In millions)
Change in benefit obligation
Projected benefit obligation, beginning of period ..................... $1,475 $1,414 $ 36 $ 50
Service cost .................................................. 3 51 — —
Interest cost .................................................. 90 109 2 3
Actuarial losses (gains) ......................................... 108 31 3 (3)
Benefit payments .............................................. (74) (80) (3) (5)
Settlement payment ............................................ (16) — — —
Curtailments ................................................. — (60) — —
Plan amendments .............................................. — 10 — (9)
Projected benefit obligation, end of period .......................... $1,586 $1,475 $ 38 $ 36
Change in plan assets
Fair value of plan assets, beginning of period ........................ $1,067 $1,424$4$4
Actual return on plan assets ..................................... 157 (380) — —
Company contributions ......................................... 109 106 3 5
Benefit payments .............................................. (74) (80) (3) (5)
Settlement payment ............................................ (3) — — —
Administrative expenses ........................................ (4) (3) — —
Fair value of plan assets, end of period ............................. $1,252 $1,067$4$4
Funded status and prepaid (accrued) benefit cost at measurement date .... $ (334) $ (408) $ (34) $ (32)
Amount recognized in the
Consolidated Balance Sheets:
Other liabilities ............................................... (334) (408) (34) (32)
$ (334) $ (408) $ (34) $ (32)
Amounts recognized in
Accumulated Other Comprehensive Income (Loss):
Net actuarial loss (gain) ........................................ $ 483 $ 500 $ (2) $ (5)
Prior service cost (credit) ....................................... 7 9 (8) (9)
$ 490 $ 509 $ (10) $ (14)
The curtailment gains during 2008 resulted from merger-related employment terminations. The settlement
payments during 2009 relate to the settlement of liabilities under the SERP for certain executive officers.
The accumulated benefit obligation for all defined-benefit plans was $1.5 billion and $1.4 billion as of
December 31, 2009 and 2008, respectively.
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