3M 2008 Annual Report Download - page 80

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74
Following is a reconciliation of the beginning and ending balances of the benefit obligation and the fair value of plan
assets as of December 31:
Qualified and Non-qualified
Pension Benefits Postretirement
United States International Benefits
(Millions) 2008 2007 2008 2007 2008 2007
Change in benefit obligation
Benefit obligation at beginning
of year ................................... $ 10,215 $ 10,149 $ 4,856 $ 4,450
$ 1,809 $ 1,841
Acquisitions............................... 22 —
—
3 — —
Service cost .............................. 192 192 120 125
53 57
Interest cost .............................. 597 568 252 228
100 104
Participant contributions ........... — — 5
4
56 47
Foreign exchange rate changes — — (620 ) 337
(20 ) 14
Plan amendments..................... 9
18 (9 ) 17
(148 ) (98 )
Actuarial (gain) loss .................. (40 ) (154 ) (369 ) (114 ) (93 ) (16 )
Medicare Part D
Reimbursement..................... — — — —
12 10
Benefit payments...................... (606 ) (565 ) (194 ) (175 ) (158 ) (159 )
Settlements, curtailments,
special termination benefits
and other ............................... 6
7
(4 ) (19 ) — 9
Benefit obligation at end of year $ 10,395 $ 10,215 $ 4,037 $ 4,856
$ 1,611 $ 1,809
Change in plan assets
Fair value of plan assets at
beginning of year................... $ 11,096 $ 10,060 $ 4,424 $ 3,970
$ 1,355 $ 1,337
Acquisitions............................... 13 — — 1 — —
Actual return on plan assets ..... (1,495 ) 1,376 (872 ) 188
(377 ) 127
Company contributions............. 235 225 186 151
53 3
Participant contributions ........... — — 5
4
56 47
Foreign exchange rate changes — — (527 ) 300 — —
Benefit payments...................... (606 ) (565 ) (194 ) (175 ) (158 ) (159 )
Settlements, curtailments,
special termination benefits
and other ............................... — — —
(15 ) — —
Fair value of plan assets at end
of year ................................... $ 9,243 $ 11,096 $ 3,022 $ 4,424
$ 929 $ 1,355
Funded status at end of year ....... $ (1,152 ) $ 881 $ (1,015 ) $ (432 ) $ (682 ) $ (454 )