Kraft 2014 Annual Report Download - page 56

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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 27, 2014 and December 28,
2013 were:
The accumulated benefit obligation, which represents benefits earned to the measurement date, was $6,777 million at December
27, 2014 and $5,781 million at December 28, 2013 for the U.S. pension plans. The accumulated benefit obligation for the non-U.S.
pension plans was $1,231 million at December 27, 2014 and $1,191 million at December 28, 2013.
The combined U.S. and non-U.S. pension plans resulted in a net pension liability of $1,060 million at December 27, 2014 and $271
million at December 28, 2013. We recognized these amounts in our consolidated balance sheets at December 27, 2014 and
December 28, 2013 as follows:
51
U.S. Plans Non-U.S. Plans
December 27,
2014
December 28,
2013
December 27,
2014
December 28,
2013
(in millions)
Benefit obligation at beginning of year $5,978 $7,130 $1,267 $1,418
Service cost 84 100 14 21
Interest cost 287 287 55 55
Benefits paid (518) (316 ) (80 ) (79 )
Actuarial losses / (gains) 1,160 (778 ) 153 (47 )
Plan amendments 16 9 — —
Currency — — (101 ) (98 )
Settlements (13 ) (512 ) — —
Curtailments — (3 ) — (9)
Special termination benefits — 61 — 1
Other — — 4 5
Benefit obligation at end of year 6,994 5,978 1,312 1,267
Fair value of plan assets at beginning of year 5,721 5,460 1,253 1,089
Actual return on plan assets 629 654 194 144
Contributions 145 435 16 181
Benefits paid (518) (316 ) (80 ) (79 )
Currency — — (101 ) (82 )
Settlements (13 ) (512 ) — —
Fair value of plan assets at end of year 5,964 5,721 1,282 1,253
Net pension liability recognized at end of year $ (1,030 ) $ (257) $(30 ) $ (14)
December 27,
2014
December 28,
2013
(in millions)
Other assets $ 64 $162
Other current liabilities (19 ) (28 )
Accrued pension costs (1,105 ) (405 )
$ (1,060 ) $ (271 )