Kraft 2012 Annual Report Download - page 66

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Pension Plans
Obligations and Funded Status:
The projected benefit obligations, plan assets, and funded status of our pension plans at December 29, 2012 and
December 31, 2011 were:
U.S. Plans Non-U.S. Plans
2012 2011 2012 2011
(in millions)
Benefit obligation at beginning of year $ - $ - $ 573 $ 512
Service cost 32 - 12 7
Interest cost 70 - 32 26
Benefits paid (154) - (47) (40)
Actuarial (gains) / losses (25) - 52 73
Currency - - 3 (7)
Transfer from Mondele¯ z International 7,207 - 790 -
Other --32
Benefit obligation at end of year 7,130 - 1,418 573
Fair value of plan assets at beginning of year - - 470 473
Actual return on plan assets 122 - 68 18
Contributions 7 - 38 24
Benefits paid (154) - (47) (40)
Currency - - 3 (5)
Transfer from Mondele¯ z International 5,485 - 557 -
Fair value of plan assets at end of year 5,460 - 1,089 470
Net pension liability recognized at end of year $ (1,670) $ - $ (329) $ (103)
The accumulated benefit obligation, which represents benefits earned to the measurement date, was $6,802 million at
December 29, 2012 for the U.S. pension plans. The accumulated benefit obligation for the non-U.S. pension plans was
$1,303 million at December 29, 2012 and $527 million at December 31, 2011.
The combined U.S. and non-U.S. pension plans resulted in a net pension liability of $1,999 million at December 29, 2012
and $103 million at December 31, 2011. We recognized these amounts in our consolidated balance sheets at
December 29, 2012 and December 31, 2011 as follows:
2012 2011
(in millions)
Prepaid pension assets $ 15 $ 14
Other current liabilities (24) -
Accrued pension costs (1,990) (117)
$ (1,999) $ (103)
Certain of our U.S. and non-U.S. plans are underfunded and have accumulated benefit obligations in excess of plan
assets. For these plans, the projected benefit obligations, accumulated benefit obligations, and the fair value of plan
assets at December 29, 2012 and December 31, 2011 were:
U.S. Plans Non-U.S. Plans
2012 2011 2012 2011
(in millions)
Projected benefit obligation $ 7,130 $ - $ 1,319 $ 478
Accumulated benefit obligation 6,802 - 1,205 432
Fair value of plan assets 5,460 - 975 360
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