Proctor and Gamble 2015 Annual Report Download - page 65

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63 The Procter & Gamble Company
Amounts in millions of dollars except per share amounts or as otherwise specified.
The underfunding of pension benefits is primarily a function of the different funding incentives that exist outside of the U.S. In
certain countries, there are no legal requirements or financial incentives provided to companies to pre-fund pension obligations
prior to their due date. In these instances, benefit payments are typically paid directly from the Company's cash as they become
due.
Pension Benefits Other Retiree Benefits
Years ended une 0 2015 2014 2015 2014
CLASSIFICATION OF NET AMOUNT RECOGNIED
Noncurrent assets 2 $ 69 
$
Current liabilities 9(40)20(25)
Noncurrent liabilities 5,5(5,984)1,414(1,906)
NET AMOUNT RECOGNIED 5,4$(5,955)1,44$(1,931)
AMOUNTS RECOGNIED IN ACCUMULATED OTHER
COMPREHENSIVE INCOME AOCI
Net actuarial loss 4,4 $ 5,169 1,1 $ 1,871
Prior service cost(credit) 00 344 4(39)
NET AMOUNTS RECOGNIED IN AOCI 4, $ 5,513 1,5 $ 1,832
The accumulated benefit obligation for all defined benefit pension plans was $14,239 and $14,949 as of June 30, 2015 and 2014,
respectively. Pension plans with accumulated benefit obligations in excess of plan assets and plans with projected benefit obligations
in excess of plan assets consisted of the following:
Accumulated Benefit Oligation
Exceeds the Fair Value of Plan Assets
Proected Benefit Oligation
Exceeds the Fair Value of Plan Assets
Years ended une 0 2015 2014 2015 2014
Projected benefit obligation 1,411 $ 14,229 14,05 $ 15,325
Accumulated benefit obligation 11,91 12,406 12,419 13,279
Fair value of plan assets ,91 8,353 ,45 9,301
et eoc enet ost. Components of the net periodic benefit cost were as follows:
Pension Benefits Other Retiree Benefits
Years ended une 0 2015 2014 201 2015 2014 201
AMOUNTS RECOGNIED IN NET PERIODIC BENEFIT COST
Service cost 1 $ 298 $ 300 15 $ 149 $ 190
Interest cost 545 590 560 240 256 260
Expected return on plan assets 2(701)(587)40(385)(382)
Prior service cost(credit) amortization 0 26 18 20(20)(20)
Net actuarial loss amortization 25 214 213 105 118 199
Special termination benefits 11 5 39 2 9 18
Curtailments, settlements and other 4
GROSS BENEFIT COST 44 432 547 9 127 265
Dividends on ESOP preferred stock 5(64)(70)
NET PERIODIC BENEFIT COSTCREDIT 44 $ 432 $ 547 40 $ 63 $ 195
CHANGE IN PLAN ASSETS AND BENEFIT OBLIGATIONS
RECOGNIED IN AOCI
Net actuarial loss(gain) - current year 240 $ 1,102 $ 215
Prior service cost(credit) - current year 1 425(5)
Amortization of net actuarial loss 25(214)105(118)
Amortization of prior service (cost)credit 0(26)20 20
Currency translation and other 245 42
TOTAL CHANGE IN AOCI 251,111 44114
NET AMOUNTS RECOGNIED IN PERIODIC BENEFIT
COST AND AOCI 29$ 1,543 40$ 177