DuPont 2005 Annual Report Download - page 103

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E. I. du Pont de Nemours and Company
Notes to Consolidated Financial Statements (continued)
(Dollars in millions, except per share)
Obligations and Funded Status at December 31,
Summarized information on the company’s postretirement plans is as follows:
Pension Benefits Other Benefits
2005 2004 2005 2004
Change in benefit obligation
Benefit obligation at beginning of year $21,757 $21,196 $ 4,807 $ 5,064
Service cost 349 351 33 36
Interest cost 1,160 1,198 261 266
Plan participants’ contributions 11 12 123 97
Actuarial loss (gain) 1,537 1,409 (600) 441
Foreign currency exchange rate changes (402) 275 1 (1)
Benefits paid (1,503) (1,528) (518) (532)
Amendments 3 6 (19) (526)1
Net effects of acquisitions/divestitures 23 (1,162) 1 (38)
Benefit obligation at end of year $22,935 $21,757 $ 4,089 $ 4,807
Change in plan assets
Fair value of plan assets at beginning of year $18,250 $17,967 $ – $ –
Actual gain on plan assets 2,038 2,182 – –
Foreign currency exchange rate changes (261) 187 – –
Employer contributions 1,253 709 395 435
Plan participants’ contributions 11 12 123 97
Benefits paid (1,503) (1,528) (518) (532)
Net effects of acquisitions/divestitures 4 (1,279) – –
Fair value of plan assets at end of year $19,792 $18,250 $ – $ –
Funded status:
U.S. plans with plan assets $ (1,335) $ (1,639) $ – $ –
Non-U.S. plans with plan assets (385) (406) – –
All other plans (1,423) 2(1,462) 2(4,089) (4,807)
Total $ (3,143) $ (3,507) $(4,089) $(4,807)
Unrecognized prior service cost 211 247 (1,432) (1,569)
Unrecognized actuarial loss 5,275 4,754 860 1,551
Unrecognized transition asset (2) (2) – –
Net amount recognized $ 2,341 $ 1,492 $(4,661) $(4,825)
Amounts recognized in the Consolidated Balance Sheet consist of:
Prepaid benefit cost $ 3,280 $ 2,487 $ – $ –
Accrued benefit cost (1,810) (1,880) (4,661) (4,825)
Intangible asset 28 35 – –
Accumulated other comprehensive income 843 850 – –
Net amount recognized $ 2,341 $ 1,492 $(4,661) $(4,825)
1In January 2004, the company amended its U.S. parent company medical plan to be secondary to Medicare for prescription drug coverage beginning in 2006 for
eligible retirees and survivors.
2Includes pension plans maintained around the world where full funding is not permissible or customary.
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