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This excerpt taken from the WYN 10-K filed Feb 27, 2009. Defined
Benefit Pension Plans
The Company sponsors defined benefit pension plans for certain
foreign subsidiaries. Under these plans, benefits are based on
an employee’s years of credited service and a percentage of
final average compensation or as otherwise described by the
plan. As of December 31, 2008 and 2007, the Company’s
net pension liability of $7 million and $8 million,
respectively, is fully recognized as other non-current
liabilities on the Consolidated Balance Sheets. As of
December 31, 2008, the Company recorded $1 million and
$2 million, respectively, within accumulated other
comprehensive income on the Consolidated Balance Sheet as an
unrecognized prior service credit and unrecognized gain. As of
December 31, 2007, the Company recorded $1 million and
$3 million, respectively, within accumulated other
comprehensive income on the Consolidated Balance Sheet as an
unrecognized prior service credit and unrecognized gain.
The Company’s policy is to contribute amounts sufficient to
meet minimum funding requirements as set forth in employee
benefit and tax laws plus such additional amounts that the
Company determines to be appropriate. During 2008, 2007 and
2006, the Company recorded pension expense of $2 million,
$2 million and $1 million, respectively. In addition,
during 2008, the Company recorded a $1 million net gain on
curtailments of two defined benefit pension plans.
Table of Contents
This excerpt taken from the WYN 10-K filed Feb 29, 2008. Defined
Benefit Pension Plans
The Company sponsors defined benefit pension plans for certain
foreign subsidiaries. Under these plans, benefits are based on
an employee’s years of credited service and a percentage of
final average compensation or as otherwise described by the
plan. As of December 31, 2007 and 2006, the Company’s
net pension liability of $8 million and $8 million,
respectively, is fully recognized as other non-current
liabilities on the Consolidated Balance Sheet. As of
December 31, 2007, the Company recorded $1 million and
$3 million, respectively, within accumulated other
comprehensive income on the Consolidated Balance Sheet as an
unrecognized prior service credit and unrecognized gain. As of
December 31, 2006, the Company recorded $2 million and
$1 million, respectively, within accumulated other
comprehensive income on the Consolidated Balance Sheet as an
unrecognized prior service credit and unrecognized loss.
The Company’s policy is to contribute amounts sufficient to
meet minimum funding requirements as set forth in employee
benefit and tax laws plus such additional amounts that the
Company determines to be appropriate. During 2007, 2006 and
2005, the Company recorded pension expense of $2 million,
$1 million and $2 million, respectively, within
general and administrative expenses on the Consolidated and
Combined Statements of Income.
F-35
Table of Contents
This excerpt taken from the WYN 10-K filed Mar 7, 2007. Defined
Benefit Pension Plans
The Company sponsors defined benefit pension plans for certain
foreign subsidiaries. Under these plans, benefits are based on
an employee’s years of credited service and a percentage of
final average compensation or as otherwise described by the
plan. As of December 31, 2006, the Company’s net
pension liability is fully recognized as other non-current
liabilities, which approximated $8 million ($7 million
as of December 31, 2005). On December 31, 2006, the
amounts recorded within accumulated other comprehensive income
as an unrecognized prior service credit and unrecognized loss
were $2 million and $1 million, respectively, as
required by SFAS No. 158.
The Company’s policy is to contribute amounts sufficient to
meet minimum funding requirements as set forth in employee
benefit and tax laws plus such additional amounts that the Company
determines to be appropriate. During 2006, 2005 and 2004, the
Company’s recorded pension expense was approximately
$1 million, $2 million and $1 million,
respectively.
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