Texas Instruments 2015 Annual Report Download - page 57

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 51
FORM 10-K
Changes in the benefit obligations and plan assets for the defined benefit and retiree health care benefit plans were as follows:
U.S.
Defined Benefit
U.S.
Retiree Health Care
Non-U.S.
Defined Benefit
2014 2013 2014 2013 2014 2013
Change in plan benefit obligation:
Benefit obligation at beginning of year . . . . . . . . . . . . . . . . $ 955 $ 1,098 $ 472 $ 509 $ 2,276 $ 2,414
Service cost . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 26 4539 41
Interest cost . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 45 22 20 68 61
Participant contributions . . . . . . . . . . . . . . . . . . . . . ——19 18 51
Benefits paid . . . . . . . . . . . . . . . . . . . . . . . . . . . (66) (9) (45) (47) (84) (81)
Medicare subsidy . . . . . . . . . . . . . . . . . . . . . . . . ——43——
Actuarial loss (gain) . . . . . . . . . . . . . . . . . . . . . . . 133 (27) 37 (36) 275 96
Settlements . . . . . . . . . . . . . . . . . . . . . . . . . . . (12) (178) ——(7) (30)
Curtailments . . . . . . . . . . . . . . . . . . . . . . . . . . . ————(11) (28)
Effects of exchange rate changes . . . . . . . . . . . . . . . . ————(245) (237)
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . —————39
Benefit obligation at end of year (BO) . . . . . . . . . . . . . . . . . $ 1,076 $ 955 $ 513 $ 472 $ 2,316 $ 2,276
Change in plan assets:
Fair value of plan assets at beginning of year . . . . . . . . . . . . . $ 941 $ 1,071 $ 485 $ 517 $ 2,179 $ 2,218
Actual return on plan assets . . . . . . . . . . . . . . . . . . . 132 124 41 295 201
Employer contributions (funding of qualified plans) . . . . . . . . 75 43 10 —64 62
Employer contributions (payments for
non-qualified plans) . . . . . . . . . . . . . . . . . . . . . . . 12 13 ————
Participant contributions . . . . . . . . . . . . . . . . . . . . . ——19 18 51
Benefits paid . . . . . . . . . . . . . . . . . . . . . . . . . . . (66) (9) (45) (45) (84) (81)
Medicare subsidy . . . . . . . . . . . . . . . . . . . . . . . . ——4———
Settlements . . . . . . . . . . . . . . . . . . . . . . . . . . . (12) (178) ——(7) (30)
Effects of exchange rate changes . . . . . . . . . . . . . . . . ————(239) (232)
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ———(46) —40
Fair value of plan assets at end of year (FVPA) . . . . . . . . . . . . $ 1,082 $ 941 $ 497 $ 485 $ 2,213 $ 2,179
Funded status (FVPA – BO) at end of year . . . . . . . . . . . . . . $ 6 $ (14) $ (16) $ 13 $ (103) $ (97)
Amounts recognized on the Consolidated Balance Sheet as of December 31, 2014, were as follows:
U.S. Defined
Benefit
U.S. Retiree
Health Care
Non-U.S.
Defined Benefit Total
Overfunded retirement plans . . . . . . . . . . . . . . . . . . . . . . . . . $ 72 $ — $ 55 $ 127
Accrued expenses and other liabilities . . . . . . . . . . . . . . . . . . . . (9) — (6) (15)
Underfunded retirement plans . . . . . . . . . . . . . . . . . . . . . . . . (57) (16) (152) (225)
Funded status (FVPA – BO) at end of year . . . . . . . . . . . . . . . . . . $ 6 $ (16) $ (103) $ (113)
Amounts recognized on the Consolidated Balance Sheet as of December 31, 2013, were as follows:
U.S. Defined
Benefit
U.S. Retiree
Health Care
Non-U.S.
Defined Benefit Total
Overfunded retirement plans . . . . . . . . . . . . . . . . . . . . . . . . . . $ 44 $ 16 $ 70 $ 130
Accrued expenses and other liabilities . . . . . . . . . . . . . . . . . . . . . (7) — (5) (12)
Underfunded retirement plans . . . . . . . . . . . . . . . . . . . . . . . . . (51) (3) (162) (216)
Funded status (FVPA – BO) at end of year . . . . . . . . . . . . . . . . . . . $ (14) $ 13 $ (97) $ (98)
Contributions to the plans meet or exceed all minimum funding requirements. We expect to contribute about $100 million to our
retirement benefit plans in 2015. The amounts shown for underfunded U.S. defined benefit plans were for non-qualified pension plans,
which we do not fund because contributions to them are not tax deductible.