HP 2006 Annual Report Download - page 126
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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
2006 2005 2006 2005 2006 2005
In millions
Change in fair value of plan assets:
Fair value—beginning of year ................. $4,775 $3,244 $7,152 $5,924 $ 426 $ 376
Acquisition/addition/deletion of plans ........... — — 39 63 — —
Actual return on plan assets .................. 482 568 671 1,090 43 63
Employer contributions ..................... 51 1,175 244 547 67 62
Participants’ contributions .................... — — 50 45 37 29
Asset transfer ............................ — — — — — 4
Benefits paid ............................. (42) (212) (199) (146) (125) (108)
Settlements .............................. (941) — (25) — — —
Currency impact .......................... — — 435 (371) — —
Fair value—end of year ..................... 4,325 4,775 8,367 7,152 448 426
Change in benefit obligation:
Projected benefit obligation—beginning of year .... $5,296 $4,970 $7,566 $6,284 $ 1,496 $ 1,861
Acquisition/addition/deletion of plans ........... — — 70 122 (34) —
Service cost .............................. 177 338 299 236 32 63
Interest cost ............................. 276 275 325 304 84 98
Participants’ contributions .................... — — 50 45 37 29
Actuarial (gain) / loss ....................... (86) 95 (393) 1,099 (151) 53
Benefits paid ............................. (42) (212) (199) (146) (125) (108)
Plan amendments ......................... (2) 4 (48) — — (556)
Curtailment .............................. 10 (526) (13) (3) 26 —
Settlement ............................... (941) — (25) — — —
Special termination benefits .................. — 352 12 3 — 55
Currency impact .......................... — — 445 (378) 2 1
Projected benefit obligation—end of year .......... 4,688 5,296 8,089 7,566 1,367 1,496
Plan assets (less) more than benefit obligation ...... (363) (521) 278 (414) (919) (1,070)
Unrecognized net experience (gain) loss ........... (142) (5) 1,078 1,684 346 555
Unrecognized prior service cost (benefit) related to
plan amendments .......................... 3 6 (92) (40) (480) (595)
Net (accrued) prepaid amount recognized .......... (502) (520) 1,264 1,230 (1,053) (1,110)
Contributions after measurement date ............ — — 25 19 4 4
Net amount recognized ....................... $(502) $ (520) $1,289 $1,249 $(1,049) $(1,106)
Accumulated benefit obligation ................. $4,066 $4,634 $7,264 $6,600
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