HP 2013 Annual Report Download - page 147
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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 15: Retirement and Post-Retirement Benefit Plans (Continued)
The weighted-average assumptions used to calculate the projected benefit obligations were as
follows for the fiscal years ended October 31, 2013 and 2012:
Non-U.S.
U.S. Defined Defined Post-Retirement
Benefit Plans Benefit Plans Benefit Plans
2013 2012 2013 2012 2013 2012
Discount rate .............................. 4.9% 4.1% 3.9% 3.8% 3.9% 3.0%
Expected increase in compensation levels .......... 2.0% 2.0% 2.4% 2.4% — —
The net amounts recognized for HP’s defined benefit and post-retirement benefit plans in HP’s
Consolidated Balance Sheets as of October 31, 2013 and October 31, 2012 were as follows:
U.S. Defined Non-U.S. Defined Post-Retirement
Benefit Plans Benefit Plans Benefit Plans
2013 2012 2013 2012 2013 2012
In millions
Noncurrent assets ...................... $ — $ — $ 479 $ 260 $ — $ —
Current liabilities ...................... (33) (33) (46) (39) (109) (124)
Noncurrent liabilities .................... (967) (2,668) (3,502) (4,297) (362) (537)
Funded status at end of year .............. $(1,000) $(2,701) $(3,069) $(4,076) $(471) $(661)
The following table summarizes the pretax net actuarial loss (gain) and prior service benefit
recognized in accumulated other comprehensive loss for the defined benefit and post-retirement benefit
plans as of October 31, 2013.
U.S. Defined Non-U.S. Defined Post-Retirement
Benefit Plans Benefit Plans Benefit Plans
In millions
Net actuarial loss (gain) ......................... $377 $4,220 $ (96)
Prior service benefit ............................ — (231) (161)
Total recognized in accumulated other comprehensive loss $377 $3,989 $(257)
The following table summarizes the net actuarial loss (gain) and prior service benefit that are
expected to be amortized from accumulated other comprehensive loss (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 actuarial loss (gain) ......................... $16 $311 $(10)
Prior service benefit ............................ — (24) (41)
Total expected to be recognized in net periodic benefit
cost (credit) ................................ $16 $287 $(51)
139