Dow Chemical 2014 Annual Report Download - page 137
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113
Increasing the assumed medical cost trend rate by one percentage point in each year would decrease the accumulated
postretirement benefit obligation at December 31, 2014 by $16 million and decrease the net periodic postretirement benefit cost
for the year by $2 million. Decreasing the assumed medical cost trend rate by one percentage point in each year would increase
the accumulated postretirement benefit obligation at December 31, 2014 by $10 million and the net periodic postretirement
benefit cost for the year by $2 million.
Net Periodic Benefit Cost for All Significant Plans
Defined Benefit Pension Plans Other Postretirement Benefits
In millions 2014 2013 2012 2014 2013 2012
Service cost $ 411 $ 471 $ 378 $ 14 $ 19 $ 17
Interest cost 1,096 1,012 1,093 72 78 92
Expected return on plan assets (1,322) (1,248) (1,262) — — (1)
Amortization of prior service cost (credit) 22 25 26 (2) (4) (4)
Amortization of unrecognized (gain) loss 500 788 519 (14) 4 1
Curtailment/settlement/other (1) (2) (3) (2) 5 — — — 9
Net periodic benefit cost $ 705 $ 1,053 $ 754 $ 70 $ 97 $ 114
(1) Included $9 million of curtailment costs recorded in 2012 related to the 4Q12 Restructuring plan (see Note 3).
(2) The 2013 impact primarily relates to settlements associated with the wind-up of a Canadian pension plan.
(3) The 2014 impact relates to settlements associated with the wind-up of a pension plan in The Netherlands and a pension plan in
Canada.
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive (Income) Loss
for All Significant Plans
Defined Benefit Pension Plans Other Postretirement Benefits
In millions 2014 2013 2012 2014 2013 2012
Net (gain) loss $ 3,528 $ (2,343) $ 3,135 $ 63 $ (404) $ 163
Prior service credit arising during period (500) — — — — —
Amortization of prior service (cost) credit (22) (25) (26) 2 4 4
Amortization of unrecognized gain (loss) (498) (793) (519) 14 (4) (1)
Total recognized in other comprehensive
(income) loss $ 2,508 $ (3,161) $ 2,590 $ 79 $ (404) $ 166
Total recognized in net periodic benefit
cost and other comprehensive (income)
loss $ 3,213 $ (2,108) $ 3,344 $ 149 $ (307) $ 280