HP 2011 Annual Report Download - page 141
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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 16: Retirement and Post-Retirement Benefit Plans (Continued)
The net amounts recognized for HP’s defined benefit and post-retirement benefit plans in HP’s
Consolidated Balance Sheets as of October 31, 2011 and October 31, 2010 were as follows:
U.S. Defined Non-U.S. Defined Post-Retirement
Benefit Plans Benefit Plans Benefit Plans
2011 2010 2011 2010 2011 2010
In millions
Non-current assets ..................... $ — $ — $ 418 $ 95 $ — $ —
Current liability ....................... (32) (30) (43) (37) (30) (39)
Non-current liability .................... (1,251) (1,445) (3,523) (3,387) (392) (432)
Net amount recognized .................. $(1,283) $(1,475) $(3,148) $(3,329) $(422) $(471)
The following table summarizes the pretax net experience loss (gain) and prior service benefit
recognized in accumulated other comprehensive (income) loss for the company’s defined benefit and
post-retirement benefit plans as of October 31, 2011.
U.S. Defined Non-U.S. Defined Post-Retirement
Benefit Plans Benefit Plans Benefit Plans
In millions
Net experience loss (gain) ........................ $1,020 $3,949 $ (48)
Prior service benefit ............................ — (268) (349)
Total recognized in accumulated other comprehensive loss
(income) .................................. $1,020 $3,681 $(397)
The following table summarizes the experience loss and prior service benefit that will be amortized
from accumulated other comprehensive income and recognized as components of net periodic benefit
cost (credit) during the next fiscal year.
U.S. Defined Non-U.S. Defined Post-Retirement
Benefit Plans Benefit Plans Benefit Plans
In millions
Net experience loss ............................ $43 $252 $ (4)
Prior service benefit ............................ — (25) (87)
Total to be recognized in accumulated other
comprehensive loss (income) .................... $43 $227 $(91)
The weighted-average assumptions used to calculate the benefit obligation disclosed as of the 2011
and 2010 fiscal close were as follows:
Non-U.S.
U.S. Defined Defined Post-Retirement
Benefit Plans Benefit Plans Benefit Plans
2011 2010 2011 2010 2011 2010
Discount rate .............................. 4.8% 5.6% 4.5% 4.4% 4.4% 4.4%
Average increase in compensation levels ........... 2.0% 2.0% 2.5% 2.5% — —
133