Proctor and Gamble 2005 Annual Report Download - page 59
Download and view the complete annual report
Please find page 59 of the 2005 Proctor and Gamble annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Management’sDiscussionandAnalysis TheProcter&GambleCompanyandSubsidiaries 55
Theunderfundingofpensionbenefitsisprimarilyafunctionofthe
differentfundingincentivesthatexistoutsideoftheU.S.Incertain
countrieswherewe havemajor operations,there areno legal
requirementsorfinancialincentivesprovidedtocompaniestopre-fund
pensionobligations.Intheseinstances,benefitpaymentsaretypically
paiddirectlyfromtheCompany’scashastheybecomedue.
NotestoConsolidatedFinancialStatements TheProcter&GambleCompanyandSubsidiaries
Millionsofdollarsexceptpershareamountsorotherwisespecified.
YearsendedJune30
PensionBenefits OtherRetireeBenefits
2004 2004
Fundedstatusat
endofyear $(2,353) 443
Unrecognizednet
actuarialloss(gain) 902 (344)
Unrecognizedtransition
amount 12 –
Unrecognizedprior
servicecost 38 (259)
(1,401) (160)
Prepaidbenefitcost $253 $1
Accruedbenefitcost (1,872) (161)
Intangibleasset 75 –
Accumulatedother
comprehensiveincome 143 –
(1,401)
(160)
YearsendedJune30
PensionBenefits
2
OtherRetireeBenefits
3
2004 2004
Benefitobligationat
beginningofyear
1 $3,543 $2,914
Servicecost 157 89
Interestcost 204 172
Participants’
contributions 14 31
Amendments 50 (258)
Actuarialloss(gain) 5 (460)
Acquisitions(divestitures) 590 7
Curtailments
andsettlements (39) (8)
Specialtermination
benefits 12 41
Currencytranslation 288 5
Benefitpayments (208) (133)
1 4,616 2,400
Fairvalueofplan
assetsat
beginningofyear $1,558 $2,277
Actualreturnon
planassets 194 651
Acquisitions(divestitures) 185 –
Employer
contributions 412 18
Participants’
contributions 14 31
Settlements (21) –
Currencytranslation 129 (1)
Benefitpayments (208) (133)
2,263
2,843
(2,353) 443
1 Forthepensionbenefitplans,thebenefitobligationistheprojectedbenefitobligation.For
otherretireebenefitplans,thebenefitobligationistheaccumulatedpostretirementbenefit
obligation.
2 Predominantlynon-U.S.-baseddefinedbenefitretirementplans.
3 PredominantlyU.S.-basedotherpost-retirementbenefitplans.