Archer Daniels Midland 2009 Annual Report Download - page 75
Download and view the complete annual report
Please find page 75 of the 2009 Archer Daniels Midland 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.![](/annual_reports_html/ArcherDanielsMidland-2009-Annual-Report-d1227e1/bg_75.png)
69
Archer Daniels Midland Company
Notes to Consolidated Financial Statements (Continued)
Note 14.
Employee Benefit Plans (Continued)
Pension Benefits
Postretirement Benefits
2009
2008
2009
2008
(In millions)
(In millions)
Benefit obligation, beginning
$ 1,851
$ 1,916
$ 206
$ 208
Service cost
52
68
7
9
Interest cost
111
109
13
12
Actuarial loss (gain)
160
(242)
48
(15)
Employee contributions
2
3
–
–
Settlements
(15)
–
(8)
–
SFAS No. 158 measurement date adjustment
39
–
6
–
Benefits paid
(94)
(78)
(8)
(8)
Plan amendments
(2)
6
(8)
–
Foreign currency effects
(92)
69
–
–
Benefit obligation, ending
$ 2,012
$ 1,851
$ 256
$ 206
Fair value of plan assets, beginning
$ 1,662
$ 1,611
$ –
$ –
Actual return on plan assets
(283)
5
–
–
Employer contributions
217
69
8
8
Employee contributions
2
3
–
–
Settlements
(15)
–
–
–
SFAS No. 158 measurement date adjustment
27
–
–
–
Benefits paid
(94)
(78)
(8)
(8)
Foreign currency effects
(89)
52
–
–
Fair value of plan assets, ending
$ 1,427
$ 1,662
$ –
$ –
Funded status
$ (585)
$ (189)
$ (256)
$ (206)
Adjustment for fourth quarter contributions
–
7
–
–
Pension liability recognized in the balance sheet
$ (585)
$ (182)
$ (256)
$ (206)
Prepaid benefit cost
$ 17
$ 68
–
$ –
Accrued benefit liability – current
(13)
(11)
(8)
(8)
Accrued benefit liability – long-term
(589)
(239)
(248)
(198)
Net amount recognized in the balance sheet
$ (585)
$ (182)
$ (256)
$ (206)