ADT 2007 Annual Report Download - page 239

TYCO INTERNATIONAL LTD.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
17. Retirement Plans (Continued)
U.S. Plans Non-U.S. Plans
2007 2006 2007 2006
Amounts recognized on the Consolidated Balance Sheets:
For the years before the adoption of the funded status provisions of
SFAS No. 158:
Prepaid benefit credit ................................... $ — $ 1
Accrued benefit cost .................................... (74) (437)
Intangible asset ....................................... 8 2
Accumulated other comprehensive income .................... 208 397
Net amount recognized ................................ $142 $ (37)
For the years after the adoption of the funded status provisions of
SFAS No. 158:
Non-current assets ..................................... $ 26 $ 2
Current liabilities ...................................... (4) (13)
Non-current liabilities ................................... (40) (327)
Net amount recognized ................................ $ (18) $(338)
Amounts recognized in accumulated other comprehensive income
(before taxes) consist of:
Transition obligation .................................... $ — $ (6)
Prior service cost (credit) ................................ 9 (38)
Net actuarial loss ...................................... 143 377
Total amount recognized ............................... $ 152 $ 333
Weighted-average assumptions used to determine pension benefit
obligations at year end:
Discount rate ......................................... 6.3% 6.0% 5.6% 4.9%
Rate of compensation increase ............................ 4.0% 4.0% 4.4% 4.1%
The accumulated benefit obligation for all U.S. plans as of September 28, 2007 and September 29,
2006 was $776 million and $795 million, respectively. The accumulated benefit obligation for all
non-U.S. plans as of September 28, 2007 and September 29, 2006 was $1,468 million and
$1,413 million, respectively.
The accumulated benefit obligation and fair value of plan assets for U.S. pension plans with
accumulated benefit obligations in excess of plan assets were $111 million and $67 million, respectively,
at September 28, 2007 and $794 million and $719 million, respectively, at September 29, 2006.
The accumulated benefit obligation and fair value of plan assets for non-U.S. pension plans with
accumulated benefit obligations in excess of plan assets were $1,278 million and $988 million,
respectively, at September 28, 2007 and $1,402 million and $980 million, respectively, at September 29,
2006.
The aggregate benefit obligation and fair value of plan assets for U.S. pension plans with benefit
obligations in excess of plan assets were $111 million and $67 million, respectively, at September 28,
2007, and $802 million and $719 million, respectively, at September 29, 2006.
2007 Financials 147