Tyson Foods 2013 Annual Report Download - page 65

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65
Amounts recognized in the Consolidated Balance Sheets consist of:
in millions
Pension Benefits Other Postretirement
Qualified Non-Qualified Benefits
2013 2012 2013 2012 2013 2012
Accrued benefit liability $(1) $ (15) $ (85) $ (81) $ (71) $ (64)
Accumulated other comprehensive (income)/loss:
Unrecognized actuarial loss 30 39 23 29 — —
Unrecognized prior service (cost)/credit — — — 1 (3) (4)
Net amount recognized $ 29 $ 24 $ (62) $ (51) $ (74) $ (68)
At September 28, 2013, three pension plans had an accumulated benefit obligation in excess of plan assets. At September 29, 2012, all
pension plans had an accumulated benefit obligation in excess of plan assets. Plans with accumulated benefit obligations in excess of
plan assets are as follows:
in millions
Pension Benefits
Qualified Non-Qualified
2013 2012 2013 2012
Projected benefit obligation $ 27 $ 101 $ 85 $ 81
Accumulated benefit obligation 27 101 72 69
Fair value of plan assets 26 86 — —
The accumulated benefit obligation for all qualified pension plans was $86 million and $101 million at September 28, 2013, and
September 29, 2012, respectively.
Net Periodic Benefit Cost
Components of net periodic benefit cost for pension and postretirement benefit plans recognized in the Consolidated Statements of
Income are as follows:
in millions
Pension Benefits Other Postretirement
Qualified Non-Qualified Benefits
2013 2012 2011 2013 2012 2011 2013 2012 2011
Service cost $ — $ — $ — $ 5 $ 5 $ 3 $ 2 $ 1 $ —
Interest cost 445332222
Expected return on plan assets (5) (6) (6) — — — — — —
Amortization of prior service cost — — — 1 1 1 (1)(1) (1)
Recognized actuarial loss, net 4 3 3 3 1 — 7 24 1
Net periodic benefit cost $ 3 $ 1 $ 2 $ 12 $ 10 $ 6 $ 10 $ 26 $ 2
As of September 28, 2013, the amounts expected to be reclassified into earnings within the next 12 months related to net periodic
benefit cost for the qualified and non-qualified pensions are $2 million and $2 million, respectively.