MetLife 2011 Annual Report Download - page 208

MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)
Obligations, Funded Status and Net Periodic Benefit Costs
Pension Benefits Other Postretirement Benefits
U.S. Plans (1) Non-U.S. Plans U.S. Plans Non-U.S. Plans
December 31,
2011 2010 2011 2010 2011 2010 2011 2010
(In millions)
Change in benefit obligations:
Benefit obligations at January 1, ............ $7,043 $6,562 $ 676 $ 87 $1,808 $1,801 $ 37 $ 46
Service costs ........................ 187 172 64 8 16 16 1 1
Interest costs ........................ 404 393 16 6 106 111 2 2
Plan participants’ contributions ........... — — — — 28 34 — —
Net actuarial (gains) losses .............. 1,072 301 24 (11) 267 66 2 7
Acquisition, divestitures and curtailments . . . — — (5) 639 — — 1 —
Change in benefits .................... 17 — — 1 — (81) — 1
Prescription drug subsidy ............... — — — — — 12 — —
Benefits paid ......................... (396) (385) (30) (35) (132) (151) (4) (3)
Transfers ............................ — — (13) — — — — (17)
Effect of foreign currency translation ....... — — 41 (19) — — — —
Benefit obligations at December 31, ........ 8,327 7,043 773 676 2,093 1,808 39 37
Change in plan assets:
Fair value of plan assets at January 1, ..... 6,310 5,684 178 86 1,185 1,106 15 15
Actual return on plan assets ............. 944 708 (4) 8 80 97 (1) 5
Acquisition and divestitures ............. — — (4) 97 — — — —
Plan participants’ contributions ........... — — — — 28 34 — —
Employer contributions ................. 250 303 55 22 79 87 1 8
Benefits paid ......................... (396) (385) (30) (35) (132) (139) (2) (1)
Transfers ............................ — — (13) — — — — (12)
Effect of foreign currency translation ....... — — 3 — — — — —
Fair value of plan assets at
December 31, ..................... 7,108 6,310 185 178 1,240 1,185 13 15
Over (under) funded status at
December 31, ................... $(1,219) $ (733) $(588) $(498) $ (853) $ (623) $(26) $(22)
Amounts recognized in the consolidated
balance sheets consist of:
Other assets ......................... $ — $ 106 $ 3 $ 6 $ — $ — $ — $—
Other liabilities ........................ (1,219) (839) (591) (504) (853) (623) (26) (22)
Net amount recognized .............. $(1,219) $ (733) $(588) $(498) $ (853) $ (623) $(26) $(22)
Accumulated other comprehensive (income)
loss:
Net actuarial (gains) losses .............. $2,498 $2,117 $ 10 $ (25) $ 623 $ 403 $ 2 $ (3)
Prior service costs (credit) .............. 30 17 2 3 (179) (286) 1 1
Accumulated other comprehensive
(income) loss, before income tax ..... $2,528 $2,134 $ 12 $ (22) $ 444 $ 117 $ 3 $ (2)
(1) Includes non-qualified unfunded plans, for which the aggregate projected benefit obligation was $997 million and $821 million at December 31,
2011 and 2010, respectively.
The accumulated benefit obligations for all U.S. defined benefit pension plans were $7.8 billion and $6.7 billion at December 31, 2011 and 2010,
respectively. The accumulated benefit obligations for all non-U.S. defined benefit pension plans were $658 million and $610 million at December 31,
2011 and 2010, respectively.
204 MetLife, Inc.