Xerox 2013 Annual Report Download - page 118

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Aggregate information for pension plans with an Accumulated benefit obligation in excess of plan assets is presented
below:
December 31, 2013 December 31, 2012
Projected
benefit
obligation
Accumulated
benefit
obligation
Fair value of
plan assets
Projected
benefit
obligation
Accumulated
benefit
obligation
Fair value of
plan assets
Underfunded Plans:
U.S. $ 3,571 $3,565 $2,876 $4,679 $4,672 $ 3,574
Non U.S. 5,350 5,104 4,964 5,997 5,686 5,213
Unfunded Plans:
U.S. $ 322 $ 322 $ — $ 355 $355 $ —
Non U.S. 540 526 —527 520 —
Total Underfunded and Unfunded Plans:
U.S. $ 3,893 $3,887 $2,876 $5,034 $5,027 $ 3,574
Non U.S. 5,890 5,630 4,964 6,524 6,206 5,213
Total $ 9,783 $9,517 $7,840 $11,558 $11,233 $ 8,787
Our pension plan assets and benefit obligations at December 31, 2013 were as follows:
(in billions)
Fair Value of
Pension Plan
Assets
Pension Benefit
Obligations Net Funded Status
U.S. funded $ 2.9 $ 3.6 $ (0.7)
U.S. unfunded —0.3 (0.3)
Total U.S. $ 2.9 $ 3.9 $ (1.0)
U.K. 3.7 3.9 (0.2)
Canada 0.7 0.9 (0.2)
Other funded 1.4 1.4 —
Other unfunded —0.5 (0.5)
Total $ 8.7 $ 10.6 $ (1.9)
Prior to the freeze of current benefits (see below), most of our defined benefit pension plans generally provided
employees a benefit, depending on eligibility, calculated under a highest average pay and years of service formula.
Our primary domestic defined benefit pension plans provided a benefit at the greater of (i) the highest average pay and
years of service formula, (ii) the benefit calculated under a formula that provides for the accumulation of salary and
interest credits during an employee's work life or (iii) the individual account balance from the Company's prior defined
contribution plan (Transitional Retirement Account or TRA).
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