The following table provides a reconciliation of the changes in the benefit obligation and fair value of plan assets as well as a summary of the Company’s funded status (dollars in millions): | |||||||||||||||
Pension | Postretirement | ||||||||||||||
For the Calendar Year Ended December 31, 2013 | For the One Month Ended December 31, 2012 | For the Calendar Year Ended December 31, 2013 | For the One Month Ended December 31, 2012 | ||||||||||||
Reconciliation of benefit obligation: | |||||||||||||||
Benefit obligation at beginning of year | $ | 523 | $ | 535 | $ | 13 | $ | 13 | |||||||
Service cost | — | — | — | — | |||||||||||
Interest cost | 21 | 2 | 1 | — | |||||||||||
Employee contributions | — | — | 1 | — | |||||||||||
Actuarial (gain) loss | (78 | ) | (13 | ) | (1 | ) | — | ||||||||
Plan amendments | — | — | — | — | |||||||||||
Benefits paid | (14 | ) | (1 | ) | (1 | ) | — | ||||||||
Benefit obligation at end of year | $ | 452 | $ | 523 | $ | 13 | $ | 13 | |||||||
Reconciliation of fair value of plan assets: | |||||||||||||||
Fair value of plan assets at beginning of year | $ | 368 | $ | 368 | $ | — | $ | — | |||||||
Actual return on plan assets | 13 | 1 | — | — | |||||||||||
Employer contributions | — | — | — | — | |||||||||||
Employee contributions | — | — | 1 | — | |||||||||||
Benefits paid | (14 | ) | (1 | ) | (1 | ) | — | ||||||||
Fair value of plan assets at end of year | $ | 367 | $ | 368 | $ | — | $ | — | |||||||
Funded status (recorded in accrued expenses and other liabilities) | $ | (85 | ) | $ | (155 | ) | $ | (13 | ) | $ | (13 | ) | |||