Walgreens 2015 Annual Report Download - page 115
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Postretirement Healthcare Plan
The Company provides certain health insurance benefits to retired U.S. employees who meet eligibility
requirements, including age, years of service and date of hire. The costs of these benefits are accrued over the
service life of the employee. The Company’s postretirement health benefit plan is not funded.
Components of net periodic benefit costs (in millions):
2015 2014 2013
Service cost $ 11 $ 8 $ 9
Interest cost 17 17 14
Amortization of actuarial loss 19 11 12
Amortization of prior service cost (24) (23) (22)
Total postretirement benefit cost $ 23 $ 13 $ 13
Change in benefit obligation (in millions):
2015 2014
Benefit obligation at September 1 $427 $350
Service cost 11 8
Interest cost 17 17
Amendments (27) (23)
Actuarial loss (gain) 17 88
Benefits paid (21) (19)
Participants’ contributions 7 6
Benefit obligation at August 31 $431 $427
Change in plan assets (in millions):
2015 2014
Plan assets at fair value at September 1 $— $—
Participants’ contributions 7 6
Employer contributions 14 13
Benefits paid (21) (19)
Plan assets at fair value at August 31 $— $—
Funded status (in millions):
2015 2014
Funded status at August 31 $(431) $(427)
Amounts recognized in the Consolidated Balance Sheets (in millions):
2015 2014
Current liabilities (present value of expected net benefit payments) $ (12) $ (11)
Non-current liabilities (419) (416)
Net liability recognized at August 31 $(431) $(427)
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