Halliburton 2011 Annual Report Download - page 130
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115
Net periodic benefit cost
Net periodic benefit cost for our international pension plans was $27 million in 2011, $28 million
in 2010, and $32 million in 2009.
Actuarial assumptions
Certain weighted-average actuarial assumptions used to determine benefit obligations of our
international pension plans at December 31 were as follows:
2011 2010
Discount rate 5.2% 5.7%
Rate of compensation increase 5.4% 5.2%
Certain weighted-average actuarial assumptions used to determine net periodic benefit cost of our
international pension plans for the years ended December 31 were as follows:
2011 2010 2009
Discount rate 7.1% 7.9% 7.4%
Expected long-term return on plan assets 5.7% 5.6% 5.6%
Rate of compensation increase 6.2% 6.4% 5.7%
Assumed long-term rates of return on plan assets, discount rates for estimating benefit obligations,
and rates of compensation increases vary by plan according to local economic conditions. Discount rates
were determined based on the prevailing market rates of a portfolio of high-quality debt instruments with
maturities matching the expected timing of the payment of the benefit obligations. Expected long-term rates
of return on plan assets were determined based upon an evaluation of our plan assets and historical trends
and experience, taking into account current and expected market conditions.
Expected cash flows
Contributions. Funding requirements for each plan are determined based on the local laws of the
country where such plan resides. In certain countries the funding requirements are mandatory, while in
other countries they are discretionary. We currently expect to contribute $11 million to our international
pension plans in 2012.
Benefit payments. Expected benefit payments over the next 10 years are approximately $25
million annually for our international pension plans.