Cemex 2013 Annual Report Download - page 99

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Notes to the consolidated financial statements
18) Pensions and postretirement employee benets
Dened contribution pension plans
ThecostsofdenedcontributionplansfortheyearsendedDecember31,2013,2012and2011wereapproximately$572,$528and
$357,respectively.CEMEXcontributesperiodicallytheamountsofferedby thepensionplantotheemployee’sindividualaccounts,not
retaininganyremainingliabilityasofthebalancesheetdate.
Dened benet pension plans
Actuarialresultsrelatedtopensionandotherpostretirementbenetsarerecognizedintheresultsand/orinothercomprehensiveincome
(loss)fortheperiodinwhichtheyaregenerated,ascorrespond.FortheyearsendedDecember31,2013,2012and2011,theeffectsof
pensionplansandotherpostretirementbenetsaresummarizedasfollows:
Pensions Other benets Total
Net period cost (revenue): 2013 2012 2011 2013 2012 2011 2013 2012 2011
Recorded in operating costs and expenses
Servicecost $ 112 138 330 35 59 63 147 197 393
Pastservicecost (40)(1,454) (510) (90) (21) (40) (130)(1,475) (550)
Loss(gain)forsettlementsandcurtailments (18) (513) (254) – (18) (95) (18) (531) (349)
   54 (1,829) (434) (55) 20 (72) (1)(1,809) (506)
Recorded in other nancial expenses
Netinterestcost  518 697 705 71 91 98 589 788 803
Recorded in other comprehensive income for the period
Actuarial(gains)lossesfortheperiod  729 657 882 (338) 97 (81) 391 754 801
   $1,301 (475) 1,153 (322) 208 (55) 979 (267)1,098
Thereconciliationsoftheactuarialbenetsobligations,pensionplanassets,andliabilitiesrecognizedinthebalancesheetasofDecember31,
2013and2012arepresentedasfollows:
Pensions Other benets Total
2013 2012 2013 2012 2013 2012
Change in benets obligation:
Projectedbenetobligationatbeginningofyear $ 33,440 35,716 1,729 1,631 35,169 37,347
Servicecost 112 138 35 59 147 197
Interestcost 1,448 1,712 72 93 1,520 1,805
Actuarialresults 830 1,200 (338) 97 492 1,297
Employeecontributions – 11 – – – 11
Foreigncurrencytranslation 1,019 (1,524) 25 (58) 1,044 (1,582)
Settlementsandcurtailments (66) (2,209) (90) (18) (156) (2,227)
Benetspaid (1,694) (1,604) (76) (75) (1,770) (1,679)
Projectedbenetobligationatendofyear 35,089 33,440 1,357 1,729 36,446 35,169
Change in plan assets:
Fairvalueofplanassetsatbeginningofyear 21,691 22,031 23 21 21,714 22,052
Returnonplanassets 930 1,015 1 2 931 1,017
Actuarialresults 101 543 – – 101 543
Foreigncurrencytranslation 679 (995) 1 – 680 (995)
Employercontributions 642 933 75 75 717 1,008
Employeecontributions – 11 – – – 11
Settlementsandcurtailments – (243) – – – (243)
Benetspaid (1,694) (1,604) (76) (75) (1,770) (1,679)
Fairvalueofplanassetsatendofyear 22,349 21,691 24 23 22,373 21,714
Amounts recognized in the balance sheets:
Fundedstatus 12,740 11,749 1,333 1,706 14,073 13,455
Unrecognizedpriorservices – 3 – 2 – 5
Netprojectedliabilityrecognizedinthebalancesheet $ 12,740 11,752 1,333 1,708 14,073 13,460
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