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Chevron Corporation 2013 Annual Report 57
e funded status of the company’s pension and other postretirement benet plans for 2013 and 2012 follows:
Pension Benets
2013 2012 Other Benets
U.S. Int’l. U.S. Int’l. 2013 2012
Change in Benet Obligation
Benet obligation at January 1 $ 13,654 $ 6,287 $ 12,165 $ 5,519 $ 3,787 $ 3,765
Service cost 495 197 452 181 66 61
Interest cost 471 314 435 320 149 153
Plan participants’ contributions – 8 – 7 154 151
Plan amendments (78) 18 94 37 – 11
Actuarial (gain) loss (1,398) (206) 1,322 417 (636) 44
Foreign currency exchange rate changes – (187) – 114 (23) 1
Benets paid (1,064) (336) (763) (308) (359) (350)
Divestitures – – (51) – – (49)
Benet obligation at December 31 12,080 6,095 13,654 6,287 3,138 3,787
Change in Plan Assets
Fair value of plan assets at January 1 9,909 4,125 8,720 3,577 – –
Actual return on plan assets 1,546 375 1,149 375 – –
Foreign currency exchange rate changes – (21) – 90 – –
Employer contributions 819 392 844 384 205 199
Plan participants’ contributions – 8 – 7 154 151
Benets paid (1,064) (336) (763) (308) (359) (350)
Divestitures – – (41) – – –
Fair value of plan assets at December 31 11,210 4,543 9,909 4,125 – –
Funded Status at December 31 $ (870) $ (1,552) $ (3,745) $ (2,162) $ (3,138) $ (3,787)
Amounts recognized on the Consolidated Balance Sheet for the company’s pension and other postretirement benet plans at
December 31, 2013 and 2012, include:
Pension Benets
2013 2012 Other Benets
U.S. Int’l. U.S. Int’l. 2013 2012
Deferred charges and other assets $ 394 $ 128 $ 7 $ 55 $ – $ –
Accrued liabilities (76) (81) (61) (76) (215) (225)
Noncurrent employee benet plans (1,188) (1,599) (3,691) (2,141) (2,923) (3,562)
Net amount recognized at December 31 $ (870) $ (1,552) $ (3,745) $ (2,162) $ (3,138) $ (3,787)
Amounts recognized on a before-tax basis in “Accumulated other comprehensive loss” for the company’s pension and OPEB
plans were $5,464 and $9,742 at the end of 2013 and 2012, respectively. ese amounts consisted of:
Pension Benets
2013 2012 Other Benets
U.S. Int’l. U.S. Int’l. 2013 2012
Net actuarial loss $ 3,185 $ 1,808 $ 6,087 $ 2,439 $ 256 $ 968
Prior service (credit) costs (22) 167 58 170 70 20
Total recognized at December 31 $ 3,163 $ 1,975 $ 6,145 $ 2,609 $ 326 $ 988
e accumulated benet obligations for all U.S. and international pension plans were $10,876 and $5,108, respectively, at
December 31, 2013, and $12,108 and $5,167, respectively, at December 31, 2012.
Note 21 Employee Benefit Plans – Continued