Mondelez 2012 Annual Report Download - page 81

Table of Contents
Obligations and Funded Status:
The projected benefit obligations, plan assets and funded status of our pension plans at December 31, 2012 and 2011 were:
The accumulated benefit obligation, which represents benefits earned to the measurement date, was $1,218 million at
December 31, 2012 and $6,971 million at December 31, 2011 for the U.S. pension plans. The accumulated benefit obligation for
the non-U.S. pension plans was $9,453 million at December 31, 2012 and $9,207 million at December 31, 2011.
The combined U.S. and non-U.S. pension plans resulted in a net pension liability of $2,891 million at December 31, 2012 and
$3,624 million at December 31, 2011. We recognized these amounts in our consolidated balance sheets at December 31, 2012
and 2011 as follows:
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 31,
2012 and 2011 were:
78
U.S. Plans
Non
-
U.S. Plans
2012
2011
2012
2011
(in millions)
Benefit obligation at January 1
$
7,472
$
6,703
$
9,581
$
8,895
Service cost
142
146
172
170
Interest cost
275
364
425
458
Benefits paid
(241
)
(304
)
(459
)
(470
)
Settlements paid
(211
)
(187
)
– –
Curtailment gain – (
3
)
– (
1
)
Actuarial losses
1,157
744
1,060
588
Spin-Off impact
(7,207
)
– (
1,387
)
–
Currency – –
350
(95
)
Other
2
9
44
36
Benefit obligation at December 31
1,389
7,472
9,786
9,581
Fair value of plan assets at January 1
5,829
5,800
7,600
7,453
Actual return on plan assets
663
(18
)
684
284
Contributions
349
538
353
387
Benefits paid
(241
)
(304
)
(459
)
(470
)
Settlements paid
(211
)
(187
)
– –
Spin-Off impact
(5,486
)
– (
1,064
)
–
Currency – –
267
(54
)
Other – – – –
Fair value of plan assets at December 31
903
5,829
7,381
7,600
Net pension liability recognized at
December 31
$
(486
)
$
(1,643
)
$
(2,405
)
$
(1,981
)
2012
2011
(in millions)
Prepaid pension assets
$
18
$
31
Other accrued liabilities
(24
)
(58
)
Accrued pension costs
(2,885
)
(3,597
)
$
(2,891
)
$
(3,624
)
U.S. Plans
Non
-
U.S. Plans
2012
2011
2012
2011
(in millions)
Projected benefit obligation
$
1,389
$
7,472
$
9,539
$
9,314
Accumulated benefit obligation
1,218
6,971
9,230
8,962
Fair value of plan assets
903
5,829
7,119
7,313