Johnson and Johnson 2015 Annual Report Download - page 64

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A one-percentage-point change in assumed health care cost trend rates would have the following effect:
(Dollars in Millions)
One-Percentage-
Point Increase
One-Percentage-
Point Decrease
Health Care Plans
Total interest and service cost $36 (29)
Post-retirement benefit obligation $417 (326)
The following table sets forth information related to the benefit obligation and the fair value of plan assets at year-end
2015 and 2014 for the Company’s defined benefit retirement plans and other post-retirement plans:
Retirement Plans
Other Benefit
Plans
(Dollars in Millions) 2015 2014 2015 2014
Change in Benefit Obligation
Projected benefit obligation – beginning of year $26,889 21,488 5,081 4,407
Service cost 1,037 882 257 211
Interest cost 988 1,018 186 197
Plan participant contributions 48 59 – –
Amendments 60 (60) – (254)
Actuarial (gains) losses (1,578) 5,395 (400) 1,030
Divestitures & acquisitions (5) (121) – –
Curtailments, settlements & restructuring (20) (53) (3) –
Benefits paid from plan (773) (813) (420) (493)
Effect of exchange rates (791) (906) (32) (17)
Projected benefit obligation – end of year $25,855 26,889 4,669 5,081
Change in Plan Assets
Plan assets at fair value – beginning of year $22,575 20,901 79 87
Actual return on plan assets 298 2,078 1 8
Company contributions 752 1,176 414 477
Plan participant contributions 48 59 – –
Settlements (20) (40) – –
Divestitures & acquisitions (5) (109) – –
Benefits paid from plan assets (773) (813) (420) (493)
Effect of exchange rates (621) (677) – –
Plan assets at fair value – end of year $22,254 22,575 74 79
Funded status – end of year $(3,601) (4,314) (4,595) (5,002)
Amounts Recognized in the Company’s Balance Sheet consist of the following:
Non-current assets $256 233 – –
Current liabilities (77) (74) (324) (309)
Non-current liabilities (3,780) (4,473) (4,271) (4,693)
Total recognized in the consolidated balance sheet – end of year $(3,601) (4,314) (4,595) (5,002)
Amounts Recognized in Accumulated Other Comprehensive Income consist of
the following:
Net actuarial loss $6,501 7,547 2,013 2,611
Prior service cost (credit) 34 (33) (185) (225)
Unrecognized net transition obligation – 1 – –
Total before tax effects $6,535 7,515 1,828 2,386
Accumulated Benefit Obligations – end of year $23,262 23,816
52 •Johnson & Johnson 2015 Annual Report