SWN » Topics » Pension Expense

This excerpt taken from the SWN 10-Q filed Apr 28, 2009.

Pension Expense


We incurred pension costs of $1.8 million for the three months ended March 31, 2009 for our pension and other postretirement benefit plans compared to $1.9 million for the same period in 2008.  Contributing to the decrease was a reduction in pension expense due to the AWG disposition which resulted in the transfer of pension and other postretirement plan assets and liabilities, related to the employees of AWG, to the purchaser of AWG.  This decrease was partially offset by higher pension costs resulting from increases in average employee headcount, excluding our former employees of AWG, for the three months ended March 31, 2009 compared to the same period in 2008.

 

The amount of pension expense recorded is determined by actuarial calculations and is also impacted by the funded status of our plans.  We currently expect to contribute $8.0 million to our pension plans and $0.1 million to our other postretirement benefit plans in 2009. As of March 31, 2009, $2.0 million has been contributed to the pension plans and there have been no contributions to the postretirement benefit plans. The recent events in the financial markets may require changes in management’s assumptions relative to expected return on plan assets which could, in turn, adversely impact the funded status of our pension plans and increase the amount of future contribution requirements. For further information regarding our pension plans, we refer you to Note 13 in the unaudited condensed consolidated financial statements included in this Form 10-Q.


These excerpts taken from the SWN 10-K filed Feb 26, 2009.

Pension Expense

We incurred pension costs of $6.5 million in 2008 for our pension and other postretirement benefit plans, compared to $5.3 million in 2007 and $4.0 million in 2006.  As a result of the sale of AWG, we transferred pension and other postretirement plan assets and liabilities related to the employees of AWG to the purchaser. Although our net periodic benefit costs for our pension and other postretirement plans were approximately 30% lower in the second half of 2008 compared to the first half of 2008, our pension costs for the year were higher due to the deterioration of the markets in the second half of 2008.

 

The amount of pension expense recorded is determined by actuarial calculations and is also impacted by the funded status of our plans.  During 2008, we contributed $9.8 million to our pension plans and $0.3 million to our other postretirement plans, compared to $6.5 million and $0.4 million, respectively, in 2007. The recent decline in the financial markets may require changes in management’s assumptions relative to expected return on plan assets which could, in turn, adversely impact the funded status of our pension plans and increase the amount of future contribution requirements. For further discussion of our pension plans, we refer you to Note 6 to the consolidated financial statements and “Critical Accounting Policies” below.


Pension
Expense


We incurred pension
costs of $6.5 million in 2008 for our pension and other postretirement benefit
plans, compared to $5.3 million in 2007 and $4.0 million in 2006.  As a
result of the sale of AWG, we transferred pension and other postretirement plan
assets and liabilities related to the employees of AWG to the purchaser.
Although our net periodic benefit costs for our pension and other postretirement
plans were approximately 30% lower in the second half of 2008 compared to the
first half of 2008, our pension costs for the year were higher due to the
deterioration of the markets in the second half of 2008.


 


The amount of pension
expense recorded is determined by actuarial calculations and is also impacted by
the funded status of our plans.  During 2008, we contributed $9.8 million
to our pension plans and $0.3 million to our other postretirement plans,
compared to $6.5 million and $0.4 million, respectively, in 2007. The recent
decline in the financial markets may require changes in management’s assumptions
relative to expected return on plan assets which could, in turn, adversely
impact the funded status of our pension plans and increase the amount of future
contribution requirements. For further discussion of our pension plans, we refer
you to Note 6 to the consolidated financial statements and “Critical Accounting
Policies” below.




This excerpt taken from the SWN 10-Q filed Oct 30, 2008.

Pension Expense


We incurred pension costs of $1.3 million and $5.2 million in the third quarter and first nine months of 2008, respectively, for our pension and other postretirement benefit plans, compared to $1.3 million and $3.9 million for the same periods of 2007.  As a result of the sale of AWG, we transferred pension and other postretirement plan assets and liabilities related to the employees of AWG to the purchaser. Accordingly, our net periodic benefit costs for our pension and other postretirement plans are expected to be approximately 30% lower in the second half of 2008, compared to the first half of 2008.


 The amount of pension expense recorded is determined by actuarial calculations and is also impacted by the funded status of our plans.  We currently expect to contribute $8.1 million to our pension plans and $0.2 million to our other postretirement benefit plans in 2008. As of September 30, 2008, $7.3 million has been contributed to the pension plans and $0.2 million has been contributed to the postretirement benefit plans. The recent events in the financial markets may require changes in management’s assumptions relative to expected return on plan assets which could, in turn, adversely impact the funded status of our pension plans and increase the amount of future contribution requirements. For further information regarding our pension plans, we refer you to Note 13 to the consolidated financial statements included in this Form 10-Q.


This excerpt taken from the SWN 10-Q filed Jul 30, 2008.

Pension Expense


We incurred pension costs of $1.9 million and $3.8 million in the second quarter and first six months of 2008, respectively, for our pension and other postretirement benefit plans, compared to $1.3 million and $2.6 million for the same periods of 2007. The increases were the result of an increase in our number of employees. The amount of pension expense recorded is determined by actuarial calculations and is also impacted by the funded status of our plans.  As a result of the sale of the natural gas distribution segment on July 1, 2008, we expect that the pension expense for the remainder of 2008 could be decreased by approximately 40% due to the transfer of employees to

 

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the acquiring entity. We currently expect to contribute $8.5 million to our pension and other postretirement plans in 2008. As of June 30, 2008, $3.6 million has been contributed to the pension plans and $0.2 million has been contributed to the postretirement benefit plans.  For further information regarding our pension plans, we refer you to Note 13 to the consolidated financial statements included in this Form 10-Q.

This excerpt taken from the SWN 10-Q filed Apr 28, 2008.

Pension Expense


We incurred pension costs of $1.9 million in the first quarter of 2008 for our pension and other postretirement benefit plans, compared to $1.3 million for the same period of 2007. The increase was primarily the result of an increase in our number of employees. The amount of pension expense recorded is determined by actuarial calculations and is also impacted by the funded status of our plans.  We currently expect to contribute $8.5 million to our pension and other postretirement plans in 2008. As of March 31, 2008, no contributions have been made to the pension plans, and $0.1 million has been contributed to the postretirement benefit plans.  For further information regarding our pension plans, we refer you to Note 12 to the consolidated financial statements included in this Form 10-Q.


These excerpts taken from the SWN 10-K filed Feb 28, 2008.

Pension Expense

We incurred pension costs of $5.3 million in 2007 for our pension and other postretirement benefit plans, compared to $4.0 million in 2006 and $2.7 million in 2005. The increase was primarily the result of an increase in our number of employees. The amount of pension expense recorded is determined by actuarial calculations and is also impacted by the funded status of our plans. During 2007, we contributed $6.5 million to our pension plans and $0.4 million to our other postretirement plans, compared to $3.4 million and $0.4 million, respectively, in 2006. For further discussion of our pension plans, we refer you to Note 5 to the consolidated financial statements and “Critical Accounting Policies” below.  

Pension Expense


We incurred pension costs of $5.3 million in 2007 for our pension and other postretirement benefit plans, compared to $4.0 million in 2006 and $2.7 million in 2005. The increase was primarily the result of an increase in our number of employees. The amount of pension expense recorded is determined by actuarial calculations and is also impacted by the funded status of our plans. During 2007, we contributed $6.5 million to our pension plans and $0.4 million to our other postretirement plans, compared to $3.4 million and $0.4 million, respectively, in 2006. For further discussion of our pension plans, we refer you to Note 5 to the consolidated financial statements and “Critical Accounting Policies” below.  


This excerpt taken from the SWN 10-Q filed Nov 7, 2007.

Pension Expense


We incurred pension costs of $1.3 million and $3.9 million in the third quarter and first nine months of 2007, respectively, for our pension and other postretirement benefit plans, compared to $1.0 million and $3.0 million for the same periods of 2006. The increases were primarily the result of an increase in our number of employees. The amount of pension expense recorded is determined by actuarial calculations and is also impacted by the funded status of our plans. We currently expect to contribute $6.9 million to our pension and other postretirement plans in 2007. As of September 30, 2007, $4.5 million has been contributed to our pension plans and $0.3 million has been contributed to our other postretirement plans. For further information regarding our pension plans, we refer you to Note 10 of the Notes to Consolidated Financial Statements in this Form 10-Q.


This excerpt taken from the SWN 10-Q filed Jul 31, 2007.

Pension Expense


We incurred pension costs of $1.3 million and $2.6 million in the second quarter and first six months of 2007, respectively, for our pension and other postretirement benefit plans, compared to $1.0 million and $2.0 million for the same periods of 2006. The increases were primarily the result of an increase in our number of employees. The amount of pension expense recorded is determined by actuarial calculations and is also impacted by the funded status of our plans. We currently expect to contribute $6.9 million to our pension and other postretirement plans in 2007. As of June 30, 2007, $1.5 million has been contributed to our pension plans and $0.2 million has been contributed to our other postretirement plans. For further information regarding our pension plans, we refer you to Note 10 of the Notes to Consolidating Financial Statements in this Form 10-Q.


This excerpt taken from the SWN 10-Q filed May 1, 2007.

Pension Expense


We recorded expenses of $1.3 million in the first quarter of 2007 for our pension and other postretirement benefit plans, compared to $1.0 million for the same period of 2006. The amount of pension expense recorded is determined by actuarial calculations and is also impacted by the funded status of our plans. We currently expect to contribute $7.0 million to our pension and other postretirement plans in 2007.  As of March 31, 2007, there has been no contribution to our pension plans and $0.1 million has been contributed to our other postretirement plans. For further information regarding our pension plans, we refer you to Note 10 of the Notes to Consolidating Financial Statements in this Form 10-Q.


This excerpt taken from the SWN 10-K filed Mar 1, 2007.

Pension Expense

We recorded an expense of $4.0 million in 2006 for our pension and other postretirement benefit plans, compared to $2.3 million in 2005 and $2.2 million in 2004. The amount of pension expense recorded is determined by actuarial calculations and is also impacted by the funded status of our plans. During 2006, $3.4 million was contributed to our pension plans and $0.4 million was contributed to our other postretirement plans. As of December 31, 2006, we have adopted Statement of Financial Accounting Standards No. 158, “Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans”, or FAS 158. See “Adoption of Accounting Principles” below and Note 4 to the consolidated financial statements for further discussion of FAS 158. For further discussion of our pension plans, we refer you to Note 4 to the consolidated financial statements and “Critical Accounting Policies” below.  

This excerpt taken from the SWN 10-Q filed Oct 23, 2006.

Pension Expense


We recorded expenses of $1.0 million and $3.0 million in the third quarter and first nine months of 2006, respectively, for our pension and other postretirement benefit plans, compared to $0.7 million and $2.0 million for same periods of 2005. The amount of pension expense recorded is determined by actuarial calculations and is also impacted by the funded status of our plans. We currently expect to contribute $3.8 million to our pension and other postretirement plans in 2006.  As of September 30, 2006, $3.4 million has been contributed to our pension plans and $0.3 million has been contributed to our other postretirement plans. For further information regarding our pension plans, we refer you to Note 10 of the financial statements in this Form 10-Q.


This excerpt taken from the SWN 10-Q filed Aug 3, 2006.

Pension Expense


We recorded expenses of $1.0 million and $2.0 million in the second quarter and first six months of 2006, respectively, for our pension and other postretirement benefit plans, compared to $0.7 million and $1.4 million for same periods of 2005. The amount of pension expense recorded is determined by actuarial calculations and is also impacted by the funded status of our plans. We currently expect to contribute $3.8 million to our pension and other postretirement plans in 2006.  As of June 30, 2006, $2.0 million has been contributed to our pension plans and $0.2 million has been contributed to our other postretirement plans. For further information regarding our pension plans, we refer you to Note 10 of the financial statements in this Form 10-Q.


This excerpt taken from the SWN 10-Q filed Aug 1, 2006.

Pension Expense


We recorded expenses of $1.0 million and $2.0 million in the second quarter and first six months of 2006, respectively, for our pension and other postretirement benefit plans, compared to $0.7 million and $1.4 million for same periods of 2005. The amount of pension expense recorded is determined by actuarial calculations and is also impacted by the funded status of our plans. We currently expect to contribute $3.8 million to our pension and other postretirement plans in 2006.  As of June 30, 2006, $2.0 million has been contributed to our pension plans and $0.2 million has been contributed to our other postretirement plans. For further information regarding our pension plans, we refer you to Note 10 of the financial statements in this Form 10-Q.


This excerpt taken from the SWN 10-Q filed May 2, 2006.

Pension Expense


We recorded expenses of $1.0 million in the first quarter of 2006 for our pension and other postretirement benefit plans, compared to $0.7 million in the first quarter of 2005. The amount of pension expense recorded is determined by actuarial calculations and is also impacted by the funded status of our plans. We currently expect to contribute $3.9 million to our pension and other postretirement plans in 2006.  As of March 31, 2006, no contributions have been made to our pension plans and $0.1 million has been contributed to our other postretirement plans. For further information regarding our pension plans, we refer you to Note 10 of the financial statements in this Form 10-Q.


This excerpt taken from the SWN 10-K filed Mar 6, 2006.

Pension Expense

We recorded pension expense of $2.3 million in 2005, $2.2 million in 2004 and $3.3 million in 2003. The amount of pension expense recorded by us is determined by actuarial calculations and is also impacted by the funded status of our plans. During 2005, we funded our pension plan with contributions of $1.8 million. At December 31, 2005, our pension plans were underfunded and a liability of $7.9 million was recorded on the balance sheet. As a result of the underfunded status and actuarial data to be completed in early 2006, we expect to record pension expense of $3.3 million in 2006. For further discussion of our pension plans, we refer you to Note 4 to the consolidated financial statements and “Critical Accounting Policies” below.

This excerpt taken from the SWN 10-Q filed Oct 27, 2005.

Pension Expense


We recorded pension expense of $0.6 million in the third quarters of both 2005 and 2004, and $1.7 million for the first nine months of 2005 and 2004, respectively. The amount of pension expense recorded by us is determined by actuarial calculations and is also impacted by the funded status of our plans. We currently expect to contribute $1.8 million to our pension plans in 2005, all of which had been contributed as of September 30, 2005. For further information regarding our pension plans, we refer you to Note 10 of the financial statements in this Form 10-Q.

 

 

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