Energy Transfer 2015 Annual Report Download - page 225
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Table of Contents
Obligations and Funded Status
Pension and other postretirement benefit liabilities are accrued on an actuarial basis during the years an employee provides services. The following table
contains information at the dates indicated about the obligations and funded status of pension and other postretirement plans on a combined basis:
December 31, 2015
December 31, 2014
Pension Benefits
Pension Benefits
Funded Plans
Unfunded Plans
Other Postretirement
Benefits
Funded Plans
Unfunded Plans
Other Postretirement
Benefits
Change in benefit obligation:
Benefit obligation at beginning of period $ 718
$ 65
$ 202
$ 632
$ 61
$ 223
Interest cost 23
2
4
28
3
5
Amendments —
—
—
—
—
1
Benefits paid, net (46)
(8)
(20)
(45)
(9)
(28)
Actuarial (gain) loss and other 16
(2)
(6)
130
10
2
Settlements (691)
—
—
(27)
—
—
Dispositions —
—
—
—
—
(1)
Benefit obligation at end of period 20
57
180
718
65
202
Change in plan assets:
Fair value of plan assets at beginning of
period 598
—
265
600
—
284
Return on plan assets and other 16
—
—
70
—
6
Employer contributions 138
—
8
—
—
8
Benefits paid, net (46)
—
(20)
(45)
—
(28)
Settlements (691)
—
—
(27)
—
—
Dispositions —
—
—
—
—
(5)
Fair value of plan assets at end of
period 15
—
253
598
—
265
Amount underfunded (overfunded) at end
of period $ 5
$ 57
$ (73)
$ 120
$ 65
$ (63)
Amounts recognized in the consolidated
balance sheets consist of:
Non-current assets $ —
$ —
$ 97
$ —
$ —
$ 90
Current liabilities —
(9)
(2)
—
(9)
(2)
Non-current liabilities (5)
(48)
(22)
(120)
(56)
(25)
$ (5)
$ (57)
$ 73
$ (120)
$ (65)
$ 63
Amounts recognized in accumulated other
comprehensive income (loss) (pre-tax
basis) consist of:
Net actuarial gain $ 2
$ 4
$ (17)
$ 18
$ 7
$ (20)
Prior service cost —
—
15
—
—
17
$ 2
$ 4
$ (2)
$ 18
$ 7
$ (3)
F - 64