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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Reconciliation of Benefit Obligations, Plan Assets and Funded Status
The following table summarizes changes in the benefit obligation, plan assets and the funded status of our significant pension and
postretirement plans. We use a December 31 measurement date for all of our employee benefit plans.
Pension Plans Postretirement
BenefitsU.S. Plans Non-U.S. Plans
2013 2012 2013 2012 2013 2012
Change in Benefit Obligation:
Beginning balance $(792.7) $(753.7) $(838.5) $(746.7) $(138.1) $(132.3)
Service cost (15.7) (15.1) (12.2) (18.0) (1.8) (1.9)
Interest cost (27.5) (29.6) (36.8) (39.8) (5.1) (5.8)
Actuarial gain (loss) 58.4 (68.7) (21.0) (49.6) 22.9 (7.4)
Plan participant contributions – – (.7) (2.3) (2.9) (3.3)
Benefits paid 109.2 75.2 44.8 48.7 10.5 12.6
Plan amendments – – – (4.8) 1.3 –
Curtailments – (.4) 1.5 1.2 .9 (.2)
Special termination benefits – (.4) – – (.5) (.2)
Foreign currency changes and other – – (.8) (27.2) 1.7 .4
Ending balance $(668.3) $(792.7) $(863.7) $(838.5) $(111.1) $(138.1)
Change in Plan Assets:
Beginning balance $ 529.2 $ 493.4 $ 609.3 $ 536.4 $ – $ 42.6
Actual return on plan assets 59.8 67.0 76.4 57.7 – 2.7
Company contributions 51.3 44.0 67.4 40.7 7.6 (36.0)
Plan participant contributions – – .7 2.3 2.9 3.3
Benefits paid (109.2) (75.2) (44.8) (48.7) (10.5) (12.6)
Foreign currency changes and other – – 6.0 20.9 – –
Ending balance $ 531.1 $ 529.2 $ 715.0 $ 609.3 $ – $ –
Funded Status:
Funded status at end of year $(137.2) $(263.5) $(148.7) $(229.3) $(111.1) $(138.1)
Amount Recognized in Balance Sheet:
Other assets $ – $ – $ 2.7 $ 2.0 $ – $ –
Accrued compensation (10.3) (23.1) (4.0) (2.5) (8.8) (9.4)
Employee benefit plans liability (126.9) (240.4) (147.4) (228.8) (102.3) (128.7)
Net amount recognized $(137.2) $(263.5) $(148.7) $(229.3) $(111.1) $(138.1)
Pretax Amounts Recognized in
Accumulated Other Comprehensive
Loss:
Net actuarial loss $ 355.6 $ 483.6 $ 283.4 $ 315.0 $ 26.0 $ 52.6
Prior service credit (.4) (.7) (.7) (8.2) (32.4) (38.3)
Total pretax amount recognized $ 355.2 $ 482.9 $ 282.7 $ 306.8 $ (6.4) $ 14.3
Supplemental Information:
Accumulated benefit obligation $ 663.6 $ 776.5 $ 807.9 $ 768.5 N/A N/A
Plans with Projected Benefit Obligation in
Excess of Plan Assets:
Projected benefit obligation $ 668.3 $ 792.7 $ 853.3 $ 822.6 N/A N/A
Fair value plan assets 531.1 529.2 701.9 591.3 N/A N/A
Plans with Accumulated Benefit
Obligation in Excess of Plan Assets:
Projected benefit obligation $ 668.3 $ 792.7 $ 832.6 $ 809.4 N/A N/A
Accumulated benefit obligation 663.6 776.5 797.5 761.9 N/A N/A
Fair value plan assets 531.1 529.2 687.5 581.5 N/A N/A