HP 2005 Annual Report Download - page 119
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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 15: Retirement and Post-Retirement Benefit Plans (Continued)
Funded Status
The funded status of the defined benefit and post-retirement benefit plans was as follows for the
following fiscal years ended October 31:
U.S. Defined Non-U.S. Defined Post-Retirement
Benefit Plans Benefit Plans Benefit Plans
2005 2004 2005 2004 2005 2004
In millions
Change in fair value of plan assets:
Fair value—beginning of year ........... $3,244 $ 3,070 $5,924 $4,576 $ 376 $ 353
Acquisition/addition/deletion of plans ...... — 3 63 70 — —
Actual return on plan assets ............ 568 376 1,090 407 63 43
Employer contributions ................ 1,175 10 547 564 62 49
Participants’ contributions .............. — — 45 37 29 25
Asset transfer ....................... — — — — 4 —
Benefits paid ....................... (212) (215) (146) (117) (108) (94)
Settlements ........................ — — — (21) — —
Currency impact ..................... — — (371) 408 — —
Fair value—end of year ................ 4,775 3,244 7,152 5,924 426 376
Change in benefit obligation:
Projected benefit obligation—beginning of
year ............................ $4,970 $ 4,408 $6,284 $5,118 $ 1,861 $ 1,607
Acquisition/addition/deletion of plans ...... — 10 122 142 — 2
Service cost ........................ 338 320 236 213 63 55
Interest cost ........................ 275 266 304 265 98 103
Participants’ contributions .............. — — 45 37 29 25
Actuarial loss ....................... 95 181 1,099 223 53 109
Benefits paid ....................... (212) (215) (146) (117) (108) (94)
Plan amendments .................... 4 — — (37) (556) 52
Curtailment ........................ (526) — (3) — — —
Settlement ......................... — — — (21) — —
Special termination benefits ............ 352 — 3 10 55 —
Currency impact ..................... — — (378) 451 1 2
Projected benefit obligation—end of year .... 5,296 4,970 7,566 6,284 1,496 1,861
Plan assets less than benefit obligation ...... (521) (1,726) (414) (360) (1,070) (1,485)
Unrecognized net experience (gain) loss ..... (5) 540 1,684 1,445 555 568
Unrecognized prior service cost (benefit)
related to plan amendments ............ 6 8 (40) (44) (595) (56)
Net (accrued) prepaid amount recognized .... (520) (1,178) 1,230 1,041 (1,110) (973)
Contributions after measurement date ....... — — 19 6 4 3
Net amount recognized ................. $(520) $(1,178) $1,249 $1,047 $(1,106) $ (970)
Accumulated benefit obligation ............ $4,634 $ 3,882 $6,600 $5,425
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