ADT 2013 Annual Report Download - page 153
Download and view the complete annual report
Please find page 153 of the 2013 ADT annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143 -
144 -
145 -
146 -
147 -
148 -
149 -
150 -
151 -
152 -
153 -
154 -
155 -
156 -
157 -
158 -
159 -
160 -
161 -
162 -
163 -
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
 |
 |
FORM 10-K
The net periodic benefit cost for the defined benefit pension plan for fiscal years 2013, 2012 and 2011 is as
follows ($ in millions):
2013 2012 2011
Service cost ............................................ $— $— $ 1
Interest cost ............................................ 3 3 3
Expected return on plan assets ............................. (4) (4) (4)
Amortization of net actuarial loss ........................... 1 1 1
Net periodic benefit cost .................................. $— $— $ 1
Weighted-average assumptions used to determine net periodic
pension cost during the year:
Discount rate ........................................... 3.7% 4.5% 5.0%
Expected return on plan assets ............................. 7.8% 8.0% 8.0%
Rate of compensation increase ............................. N/A N/A 4.0%
During fiscal year 2011, the Company froze its active U.S. pension plan. As a result, the Company
amortizes its actuarial gains and losses over the average remaining life expectancy of the pension plan
participants.
The estimated net actuarial loss for the pension benefit plan that will be amortized from accumulated other
comprehensive income into net periodic benefit cost over the next fiscal year is expected to be $1 million.
The change in benefit obligations, plan assets and the amounts recognized on the Consolidated Balance
Sheets for the defined benefit plan as of September 27, 2013 and September 28, 2012 are as follows ($ in
millions):
September 27,
2013
September 28,
2012
Change in benefit obligations:
Benefit obligations as of beginning of year ....... $ 81 $ 72
Service cost ............................... — —
Interest cost ............................... 3 3
Actuarial (gain) loss ......................... (9) 9
Benefits and administrative expenses paid ....... (3) (3)
Benefit obligations as of end of year ............ $ 72 $ 81
Change in plan assets:
Fair value of plan assets as of beginning of year . . . $ 52 $ 48
Actual return on plan assets ................... 5 5
Employer contributions ...................... 2 2
Benefits and administrative expenses paid ....... (3) (3)
Fair value of plan assets as of end of year ........ $ 56 $ 52
Funded status .............................. $(16) $ (29)
89