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DR PEPPER SNAPPLE GROUP, INC.
NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
84
The accumulated benefit obligations for the defined benefit pension plans were $223 million and $256 million as of
December 31, 2014 and 2013, respectively. The pension plan assets and the projected benefit obligations of DPS' U.S. plans
represent approximately 90% of both the total plan assets and the total projected benefit obligation, respectively, of all plans
combined as of December 31, 2014. The following table summarizes key pension plan information regarding plans whose
accumulated benefit obligations exceed the fair value of their respective plan assets (in millions):
2014 2013
Aggregate projected benefit obligation $ 226 $ 256
Aggregate accumulated benefit obligation 223 256
Aggregate fair value of plan assets 186 234
The following table summarizes the components of the net periodic benefit cost and changes in plan assets and benefit
obligations recognized in other comprehensive income (loss) ("OCI") for the stand alone U.S. and foreign plans for the years ended
December 31, 2014, 2013 and 2012 (in millions):
Postretirement
Pension Plans Medical Plans
For the Year Ended December 31,
2014 2013 2012 2014 2013 2012
Net Periodic Benefit Costs
Service cost $ 2 $ 3 $ 2 $ — $ — $ —
Interest cost 13 13 14 —— —
Expected return on assets (14)(14)(15)—— —
Amortization of actuarial loss 34 4 —— —
Amortization of prior service credit ————(1)(2)
Curtailments —————(1)
Settlements 16 3——— —
Net periodic benefit costs $ 20 $ 9 $ 5 $ — $(1) $ (3)
Changes Recognized in OCI
Curtailment effects $ — $ — $ — $ — $ — $ 1
Settlement effects (16)(3) — —— —
Current year actuarial loss (gain) 30 (29) 12 —— 1
Recognition of actuarial loss (3)(4)(4)—— —
Recognition of prior service credit ————1 2
Total recognized in OCI $ 11 $(36) $ 8 $ — $ 1 $ 4
The estimated net actuarial loss for the defined benefit plans that will be amortized from AOCL into periodic benefit cost in
2015 is approximately $4 million. The estimated prior service cost for the defined benefit plans that will be amortized from AOCL
into periodic benefit costs in 2015 is not significant.
The Company recognized a non-cash settlement loss of $16 million during the year ended December 31, 2014 which included
$14 million as a result of the purchased annuity contracts. The settlement loss is primarily due to the recognition of previously
unrecognized actuarial losses that were included in accumulated other comprehensive loss. During the prior year, the total amount
of lump sum payments made to participants of various U.S. defined pension plans exceeded the estimated annual interest and
service costs. As a result, non-cash settlement charges of $3 million were recognized for the year ended December 31, 2013. There
was no settlement charge recognized for the year ended December 31, 2012.