Hertz 2015 Annual Report Download - page 123

Table of Contents







 






Prepaid expenses and other assets $ —
$ —
$ 29
$ —
$ —
$ —
Accrued liabilities $ (112)
$ (107)
$ (64)
$ (62)
$ (15)
$ (15)
Net obligation recognized in the balance sheet $ (112)
$ (107)
$ (35)
$ (62)
$ (15)
$ (15)
Prior service credit $ 1
$ 2
$ —
$ —
$ —
$ —
Net gain (loss) (128)
(97)
(33)
(50)
1
1
Accumulated other comprehensive gain (loss) (127)
(95)
(33)
(50)
1
1
Funded/(Unfunded) accrued pension or postretirement
benefit 15
(12)
(2)
(12)
(16)
(16)
Net obligation recognized in the balance sheet $ (112)
$ (107)
$ (35)
$ (62)
$ (15)
$ (15)
Total recognized in other comprehensive (income) loss $ 31
$ 14
$ (17)
$ 38
$ —
$ —
Total recognized in net periodic benefit cost and other
comprehensive (income) loss $ 27
$ 33
$ (20)
$ 35
$ 1
$ 1
Estimated amounts that will be amortized from
accumulated other comprehensive (income) loss over
the next fiscal year:
Net loss $ (8)
$ (2)
$ —
$ (2)
$ —
$ —
 $ 683
$ 720
$ 234
$ 272
N/A
N/A

Discount rate 4.3%
3.9%
3.6%
4.4%
4.2%
3.6%
Expected return on assets 7.2%
7.4%
6.1%
7.4%
—%
—%
Average rate of increase in compensation 4.3%
4.0%
2.6%
2.6%
—%
—%
Initial health care cost trend rate N/A
N/A
N/A
N/A
6.9%
7.3%
Ultimate health care cost trend rate N/A
N/A
N/A
N/A
4.5%
4.5%
Number of years to ultimate trend rate N/A
N/A
N/A
N/A
23
15
N/A - Not applicable
The discount rate used to determine the December 31, 2015 benefit obligations for U.S. pension plans is based on the rate from the Mercer
Pension Discount Curve-Above Mean Yield that is appropriate for the duration of the Company's plan liabilities. For its plans outside the U.S., the
discount rate reflects the market rates for an optimized subset of high-quality corporate bonds currently available. The discount rate in a country
was determined based on a yield curve constructed from high quality corporate bonds in that country. The rate selected from the yield curve has a
duration that matches its plan.
The expected return on plan assets for each funded plan is based on expected future investment returns considering the target investment mix of
plan assets.
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except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.