DuPont 2011 Annual Report Download - page 77

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Table of Contents E. I. du Pont de Nemours and Company
Notes to the Consolidated Financial Statements (continued)
(Dollars in millions, except per share)
Summarized information on the company's pension and other long-term employee benefit plans is as follows:
Pension Benefits Other Benefits
Obligations and Funded Status at December 31, 2011 2010 2011 2010
Change in benefit obligation
Benefit obligation at beginning of year $ 23,924 $ 22,770 $ 3,989 $ 4,132
Service cost 249 207 33 29
Interest cost 1,253 1,262 212 238
Plan participants' contributions 21 18 112 114
Actuarial loss 3,062 1,218 441 96
Benefits paid (1,610) (1,584) (424) (435)
Amendments 2 — 11 (189) 1
Net effects of acquisitions/divestitures 182 33 5 4
Benefit obligation at end of year $ 27,083 $ 23,924 $ 4,379 $ 3,989
Change in plan assets
Fair value of plan assets at beginning of year $ 18,403 $ 17,143 $ — $ —
Actual gain on plan assets 471 2,015 — —
Employer contributions 341 782 312 321
Plan participants' contributions 21 18 112 114
Benefits paid (1,610) (1,584) (424) (435)
Net effects of acquisitions/divestitures 168 29 — —
Fair value of plan assets at end of year $ 17,794 $ 18,403 $ — $ —
Funded status
U.S. plans with plan assets $ (6,894) $ (3,408) $ — $ —
Non-U.S. plans with plan assets (901) (652) — —
All other plans (1,494) 2 (1,461) 2 (4,379) (3,989)
Total $ (9,289) $ (5,521) $ (4,379) $ (3,989)
Amounts recognized in the Consolidated Balance
Sheets consist of:
Other assets $ 4 $ 4 $ — $ —
Other accrued liabilities (Note 12) (107) (124) (316) (319)
Other liabilities (Note 14) (9,186) (5,401) (4,063) (3,670)
Net amount recognized $ (9,289) $ (5,521) $ (4,379) $ (3,989)
1. Change is primarily due to an amendment in 2010 to the company's U.S. parent company retiree medical plan to take advantage of a 50 percent discount from brand name drug
manufacturers in the "coverage gap" portion of the Medicare Part D plan. The plan amendment has no effect on current or future retirees' coverage.
2. Includes pension plans maintained around the world where funding is not customary.
The pre-tax amounts recognized in accumulated other comprehensive loss are summarized below:
Pension Benefits Other Benefits
December 31, 2011 2010 2011 2010
Net loss $ (12,477) $ (9,032) $ (1,266) $ (889)
Prior service (cost) benefit (99) (114) 862 994
$ (12,576) $ (9,146) $ (404) $ 105
The accumulated benefit obligation for all pension plans was $25,116 and $22,165 at December 31, 2011 and 2010, respectively.
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