Intel 1996 Annual Report Download - page 62

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At fiscal year-ends, the weighted average discount rates and long-term rates for compensation increases used for estimating the benefit
obligations and the expected return on plan assets were as follows:
Plan assets of the foreign plans consist primarily of listed stocks, bonds and cash surrender value life insurance policies.
Other postemployment benefits. The Company has adopted SFAS No. 106, "Employers' Accounting for Postretirement Benefits Other Than
Pensions," and SFAS No. 112, "Employers' Accounting for Postemployment Benefits." There was no material impact on the Company's
financial statements for the periods presented.
(in excess of) plan assets 6 (20)
Unrecognized net loss 3 3
Unrecognized net transition obligation 2 1
------ ------
Prepaid (accrued) pension costs $ 11 $ (16)
====== ======
Assets Accu-
exceed mulated
accu- benefits
1995 mulated exceed
(In millions) benefits assets
- - ------------------------------------------------------------------------
Vested benefit obligation $ (44) $ (8)
------ ------
Accumulated benefit obligation $ (46) $ (14)
====== ======
Projected benefit obligation $ (62) $ (22)
Fair market value of plan assets 67 4
------ ------
Projected benefit obligation
less than (in excess of) pan assets 5 (18)
Unrecognized net loss 4 5
Unrecognized net transition obligation 2 --
------ ------
Prepaid (accrued) pension costs $ 11 $ (13)
====== ======
1996 1995 1994
- - ------------------------------------------------------------------------
Discount rate 5.5%-14% 5.5%-14% 5.5%-14%
Rate of increase in
compensation levels 4.5%-11% 4.5%-11% 4.5%-11%
Expected long-term
return on assets 5.5%-14% 5.5%-14% 5.5%-14%