Alcoa 2013 Annual Report Download - page 161
Download and view the complete annual report
Please find page 161 of the 2013 Alcoa 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
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
 |
 |
Pension Plan Benefit Obligations
Pension benefits
2013 2012
The projected benefit obligation and accumulated benefit obligation for all defined benefit
pension plans was as follows:
Projected benefit obligation $13,730 $14,751
Accumulated benefit obligation 13,324 14,186
The aggregate projected benefit obligation and fair value of plan assets for pension plans with
projected benefit obligations in excess of plan assets was as follows:
Projected benefit obligation 12,180 13,973
Fair value of plan assets 8,930 10,142
The aggregate accumulated benefit obligation and fair value of plan assets for pension plans with
accumulated benefit obligations in excess of plan assets was as follows:
Accumulated benefit obligation 11,776 13,421
Fair value of plan assets 8,890 10,123
Components of Net Periodic Benefit Cost
Pension benefits(1) Other postretirement benefits(2)
2013 2012 2011 2013 2012 2011
Service cost $ 194 $ 186 $ 165 $ 17 $ 14 $ 17
Interest cost 602 639 678 114 131 158
Expected return on plan assets (788) (808) (806) - - (2)
Recognized net actuarial loss 489 384 247 35 25 26
Amortization of prior service cost (benefit) 19 19 19 (18) (16) (17)
Settlements(3) 9-2---
Curtailments(4) 6 - (9) - - -
Special termination benefits(5) 77-----
Net periodic benefit cost(6) $ 608 $ 420 $ 296 $148 $154 $182
(1) In 2013, 2012, and 2011, net periodic benefit cost for U.S pension plans was $391, $288, and $190, respectively.
(2) In 2013, 2012, and 2011, net periodic benefit cost for other postretirement benefits reflects a reduction of $55, $64, and
$43, respectively, related to the recognition of the federal subsidy awarded under Medicare Part D.
(3) In all periods presented, settlements were due to the payment of significant lump sum benefits and/or purchases of
annuity contracts.
(4) In each period presented, curtailments were due to elimination of benefits or workforce reductions (see Note D).
(5) In 2013, special termination benefits were due to workforce reductions (see Note D).
(6) Amounts attributed to joint venture partners are not included.
Amounts Expected to be Recognized in Net Periodic Benefit Cost
Pension benefits Other postretirement benefits
2014 2014
Net actuarial loss recognition $384 $ 19
Prior service cost (benefit) recognition 15 (18)
145