Regions Bank 2009 Annual Report Download - page 172
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Information for the plans with an accumulated benefit obligation in excess of plan assets as of December 31
was as follows:
2009 2008
(In millions)
Projected benefit obligation ................................... $1,586 $1,475
Accumulated benefit obligation ................................ 1,468 1,377
Fair value of plan assets ...................................... 1,252 1,067
Net periodic benefit cost included the following components for the years ended December 31:
Pension
Other Postretirement
Benefits
2009 2008 2007 2009 2008 2007
(In millions)
Service cost ............................................$3$51$39$— $1$1
Interest cost ............................................ 90 109 77233
Expected return on plan assets ............................. (88) (148) (103) — — —
Amortization of actuarial loss ............................. 50 — 7 — — —
Amortization of prior service cost (credit) .................... 1 3 — (1) (1) (1)
Settlement charge ....................................... 1 — 2 — — —
Curtailment gains ....................................... — (3) (17) — — —
Net periodic benefit cost .................................. $ 57 $ 12 $ 5$1$3$3
The estimated amounts that will be amortized from accumulated other comprehensive income (loss) into net
periodic benefit cost in 2010 are as follows:
Pension
Other
Postretirement
Benefits
(In millions)
Actuarial loss (gain) ..................................... $43 $—
Prior service cost (credit) ................................. 1 (1)
$44 $ (1)
The weighted-average assumptions used to determine benefit obligations at December 31, 2009 and 2008
follows:
Pension
Other
Postretirement
Benefits
2009 2008 2009 2008
Discount rate ...................................... 6.02% 6.15% 5.35% 6.20%
Rate of annual compensation increase .................. 5.00 5.00 N/A N/A
The weighted-average assumptions used to determine net periodic benefit cost for the years ended
December 31 are as follows:
Pension
Other
Postretirement
Benefits
2009 2008 2007 2009 2008 2007
Discount rate ............................................... 6.15% 6.38% 6.02% 6.20% 6.20% 5.75%
Expected long-term rate of return on plan assets ................... 8.50 8.50 8.33 5.00 5.00 5.00
Rate of annual compensation increase ........................... 5.00 4.99 4.89 N/A N/A N/A
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