Tyson Foods 2014 Annual Report Download - page 84
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Amounts recognized in the Consolidated Balance Sheets consist of:
At September 27, 2014 , seven pension plans had an accumulated benefit obligation in excess of plan assets. At September 28, 2013 , three
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:
The accumulated benefit obligation for all qualified pension plans was $1,849 million and $86 million at September 27, 2014 , and
September 28, 2013 , 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:
As of September 27, 2014 , 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 $4 million , respectively.
76
in millions
Pension Benefits
Other Postretirement
Qualified
Non-Qualified
Benefits
2014
2013
2014
2013
2014
2013
Other current liabilities
$
—
$
—
$
(
5
)
$
—
$
(
7
)
$
—
Other liabilities
(202
)
(1
)
(174
)
(85
)
(156
)
(71
)
Accumulated other comprehensive (income)/loss:
Actuarial loss
39
30
36
23
—
—
Prior service cost/(credit)
—
—
—
—
(
2
)
(3
)
Net amount recognized
$
(163
)
$
29
$
(143
)
$
(62
)
$
(165
)
$
(74
)
in millions
Pension Benefits
Qualified
Non-Qualified
2014
2013
2014
2013
Projected benefit obligation
$
1,829
$
27
$
182
$
85
Accumulated benefit obligation
1,829
27
172
72
Fair value of plan assets
1,627
26
3
—
in millions
Pension Benefits
Other Postretirement
Qualified
Non-Qualified
Benefits
2014
2013
2012
2014
2013
2012
2014
2013
2012
Service cost
$
1
$
—
$
—
$
7
$
5
$
5
$
2
$
2
$
1
Interest cost
10
4
4
5
3
3
3
2
2
Expected return on plan assets
(13
)
(5
)
(6
)
—
—
—
—
—
—
Amortization of prior service cost
—
—
—
—
1
1
—
(
1
)
(1
)
Recognized actuarial (gain) loss, net
2
4
3
2
3
1
(8
)
7
24
Net periodic benefit cost
$
—
$
3
$
1
$
14
$
12
$
10
$
(3
)
$
10
$
26