Johnson Controls 2013 Annual Report Download - page 95

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95
Funded Status
The table that follows contains the ABO and reconciliations of the changes in the PBO, the changes in plan assets and the funded
status (in millions):
Pension Benefits Postretirement
Benefits U.S. Plans Non-U.S. Plans
September 30, 2013 2012 2013 2012 2013 2012
Accumulated Benefit Obligation $ 2,839 $ 3,586 $ 1,905 $ 1,904 $ — $ —
Change in Projected Benefit Obligation
Projected benefit obligation at beginning of year 3,736 2,953 2,025 1,852 266 259
Service cost 90 69 38 41 5 5
Interest cost 151 150 64 73 11 13
Plan participant contributions — — 5 6 6 7
Acquisitions — — 2 6 — —
Divestitures (1) — — (20) (2) — —
Actuarial (gain) loss (452) 722 84 109 (21) 7
Amendments made during the year (2) — 1 (6) — —
Benefits and settlements paid (621) (158) (176) (93) (22) (31)
Estimated subsidy received — — — — 1 2
Curtailment — — (15) (2) — —
Other — — 4 41 — 2
Currency translation adjustment — — (15) — (1) 2
Projected benefit obligation at end of year $ 2,902 $ 3,736 $ 1,997 $ 2,025 $ 245 $ 266
Change in Plan Assets
Fair value of plan assets at beginning of year $ 2,985 $ 2,372 $ 1,657 $ 1,471 $ 223 $ 156
Actual return on plan assets 282 504 110 155 12 35
Acquisitions — — 1 — — —
Divestitures — — — (1) — —
Employer and employee contributions 10 267 85 97 13 63
Benefits paid (136) (158) (64) (74) (22) (31)
Settlement payments (485) — (112) (19) — —
Other — — 3 16 — —
Currency translation adjustment — — (24) 12 — —
Fair value of plan assets at end of year $ 2,656 $ 2,985 $ 1,656 $ 1,657 $ 226 $ 223
Funded status $ (246) $ (751) $ (341) $ (368) $ (19) $ (43)
Amounts recognized in the statement of financial position consist of:
Prepaid benefit cost $ 29 $ 3 $ 83 $ 61 $ 51 $ 39
Accrued benefit liability (275) (754) (424) (429) (70) (82)
Net amount recognized $ (246) $ (751) $ (341) $ (368) $ (19) $ (43)
Weighted Average Assumptions (2)
Discount rate (3) 4.90% 4.15% 3.60% 3.40% 4.90% 4.15%
Rate of compensation increase 3.30% 3.25% 2.60% 2.40% NA NA