Xerox 2013 Annual Report Download - page 117

Download and view the complete annual report

Please find page 117 of the 2013 Xerox annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 152

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152

Note 15 – Employee Benefit Plans
We sponsor numerous defined benefit and defined contribution pension and other post-retirement benefit plans,
primarily retiree health care, in our domestic and international operations. December 31 is the measurement date for
all of our post-retirement benefit plans.
Pension Benefits
U.S. Plans Non-U.S. Plans Retiree Health
2013 2012 2013 2012 2013 2012
Change in Benefit Obligation:
Benefit obligation, January 1 $ 5,033 $4,670 $6,708 $5,835 $989 $ 1,007
Service cost 10 112 91 83 9 9
Interest cost 154 282 260 270 33 42
Plan participants' contributions — — 6 914 19
Actuarial (gain) loss (440)480 (203)537 (88) 18
Currency exchange rate changes — — 98 232 (10)4
Curtailments — — (10) (1) — —
Benefits paid/settlements (864)(509)(264)(256)(91) (103)
Other — (2) (22) (1) — (7)
Benefit Obligation, December 31 $3,893 $5,033 $6,664 $6,708 $856 $ 989
Change in Plan Assets:
Fair value of plan assets, January 1 $ 3,573 $3,393 $5,431 $4,884 $ — $ —
Actual return on plan assets 139 358 326 434 — —
Employer contribution 27 331 203 163 77 84
Plan participants' contributions — — 6 914 19
Currency exchange rate changes — — 88 197 — —
Benefits paid/settlements (864)(509)(264)(256)(91) (103)
Other 1— (1) — — —
Fair Value of Plan Assets, December 31 $2,876 $3,573 $5,789 $5,431 $ — $ —
Net Funded Status at December 31(1) $(1,017) $ (1,460) $ (875) $ (1,277) $ (856) $ (989)
Amounts Recognized in the Consolidated Balance
Sheets:
Other long-term assets $ — $ — $ 55 $ 35 $ — $ —
Accrued compensation and benefit costs (25)(23)(30)(25)(71) (80)
Pension and other benefit liabilities (992) (1,437) (900) (1,287) — —
Post-retirement medical benefits — — — — (785) (909)
Net Amounts Recognized $(1,017) $ (1,460) $ (875) $ (1,277) $ (856) $ (989)
_______________
(1) Includes under-funded and un-funded plans.
Benefit plans pre-tax amounts recognized in AOCL at December 31:
Pension Benefits
U.S. Plans Non-U.S. Plans Retiree Health
2013 2012 2013 2012 2013 2012
Net actuarial loss $ 672 $1,255 $1,741 $2,013 $6$ 97
Prior service credits (15)(17)(20) — (85) (128)
Total Pre-tax Loss (Gain) $657 $1,238 $1,721 $2,013 $(79) $ (31)
Accumulated Benefit Obligation $3,887 $5,027 $6,368 $6,359
Xerox 2013 Annual Report
100