Regions Bank 2011 Annual Report Download - page 211

Effective April 16, 2009, future benefit accruals under the pension plan and the SERP were suspended for
all participants. Even during the suspension, participants continued to earn service toward vesting and eligibility
for early retirement benefits. Effective January 1, 2010, these benefit accruals were reinstated for pension plan
and SERP participants.
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
2011 2010 2011 2010
(In millions)
Change in benefit obligation
Projected benefit obligation, beginning of period ................ $1,725 $1,586 $ 31 $ 38
Service cost ............................................. 36 36 — —
Interest cost ............................................. 91 93 1 1
Actuarial losses (gains) .................................... 216 119 — (5)
Benefit payments ......................................... (80) (74) (2) (3)
Settlement payments ...................................... — (32) — —
Administrative expenses ................................... (2) (3) — —
Projected benefit obligation, end of period ..................... $1,986 $1,725 $ 30 $ 31
Change in plan assets
Fair value of plan assets, beginning of period ................... $1,509 $1,252 $ 4 $ 4
Actual return on plan assets ................................. 58 128 — —
Company contributions .................................... 9 238 2 3
Benefit payments ......................................... (80) (74) (2) (3)
Settlement payments ...................................... — (32) — —
Administrative expenses ................................... (2) (3) — —
Fair value of plan assets, end of period ........................ $1,494 $1,509 $ 4 $ 4
Funded status and accrued benefit cost at measurement date ....... $ (492) $ (216) $ (26) $ (27)
Amount recognized in the Consolidated Balance Sheets:
Other liabilities .......................................... $ (492) $ (216) $ (26) $ (27)
Pre-tax amounts recognized in Accumulated Other Comprehensive
(Income) Loss:
Net actuarial loss (gain) .................................... $ 767 $ 533 $ (5) $ (6)
Prior service cost (credit) .................................. 5 6 (7) (7)
$ 772 $ 539 $ (12) $ (13)
The settlement payments during 2010 relate to the settlement of liabilities under the SERP for certain
executive officers.
The accumulated benefit obligation for all defined-benefit plans was $1.9 billion and $1.6 billion as of
December 31, 2011 and 2010, respectively, which exceeded all corresponding plan assets as of December 31,
2011 and 2010.
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