Ameriprise 2012 Annual Report Download - page 176
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The following tables provide a reconciliation of the changes in the benefit obligation and fair value of assets for the pension
plans:
2012 2011
(in millions)
Benefit obligation, January 1 $ 546 $ 469
Service cost 41 38
Interest cost 24 23
Benefits paid (7) (6)
Actuarial loss 51 40
Settlements (15) (18)
Foreign currency rate changes 3—
Benefit obligation, December 31 $ 643 $ 546
2012 2011
(in millions)
Fair value of plan assets, January 1 $ 362 $ 327
Actual return on plan assets 49 (12)
Employer contributions 45 72
Benefits paid (7) (6)
Settlements (15) (18)
Foreign currency rate changes 3(1)
Fair value of plan assets, December 31 $ 437 $ 362
The following table provides the amounts recognized in the Consolidated Balance Sheets, which equal the funded status of
the Company’s pension plans:
December 31,
2012 2011
(in millions)
Benefit liability $ (214) $ (189)
Benefit asset 85
Net amount recognized $ (206) $ (184)
The Company complies with the minimum funding requirements in all countries.
The amounts recognized in accumulated other comprehensive income, net of tax, as of December 31, 2012 but not
recognized as components of net periodic benefit cost included an unrecognized actuarial loss of $101 million and an
unrecognized prior service credit of $4 million. The estimated amounts that will be amortized from accumulated other
comprehensive income, net of tax, into net periodic benefit cost in 2013 include a prior service credit of $1 million.
The accumulated benefit obligation for all pension plans as of December 31, 2012 and 2011 was $576 million and
$493 million, respectively. The accumulated benefit obligation and fair value of plan assets for pension plans with
accumulated benefit obligations that exceeded the fair value of plan assets were as follows:
December 31,
2012 2011
(in millions)
Accumulated benefit obligation $ 503 $ 434
Fair value of plan assets 333 282
The projected benefit obligation and fair value of plan assets for pension plans with projected benefit obligations that
exceeded the fair value of plan assets were as follows:
December 31,
2012 2011
(in millions)
Projected benefit obligation $ 547 $ 470
Fair value of plan assets 333 282
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