DuPont 2010 Annual Report Download - page 93
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E. I. du Pont de Nemours and Company
Notes to the Consolidated Financial Statements (continued)
(Dollars in millions, except per share)
Summarized information on the company’s pension and other long-term employee benefit plans is as follows:
Pension Benefits Other Benefits
Obligations and Funded Status at December 31, 2010 2009 2010 2009
Change in benefit obligation
Benefit obligation at beginning of year $ 22,770 $ 21,506 $ 4,132 $ 4,072
Service cost 207 192 29 31
Interest cost 1,262 1,270 238 245
Plan participants’ contributions 18 17 114 138
Actuarial loss 1,218 1,392 96 111
Benefits paid (1,584) (1,608) (435) (461)
Amendments ——(189)1(4)
Net effects of acquisitions/divestitures 33 14—
Benefit obligation at end of year $ 23,924 $ 22,770 $ 3,989 $ 4,132
Change in plan assets
Fair value of plan assets at beginning of year $ 17,143 $ 16,209 $—$—
Actual gain on plan assets 2,015 2,219 ——
Employer contributions 782 306 321 323
Plan participants’ contributions 18 17 114 138
Benefits paid (1,584) (1,608) (435) (461)
Net effects of acquisitions/divestitures 29 ———
Fair value of plan assets at end of year $ 18,403 $ 17,143 $—$—
Funded status
U.S. plans with plan assets $ (3,408) $ (3,594) $—$—
Non-U.S. plans with plan assets (652) (543) ——
All other plans (1,461)2(1,490)2(3,989) (4,132)
Total $ (5,521) $ (5,627) $(3,989) $(4,132)
Amounts recognized in the Consolidated Balance Sheet consist
of:
Other assets (Note 13) 42——
Other accrued liabilities (Note 16) (124) (115) (319) (341)
Other liabilities (Note 18) (5,401) (5,514) (3,670) (3,791)
Net amount recognized $ (5,521) $ (5,627) $(3,989) $(4,132)
1Change is primarily due to an amendment in 2010 to the company’s U.S. parent company retiree medical plan to take advantage of a
50 percent discount from brand name drug manufacturers in the ‘‘coverage gap’’ portion of the Medicare Part D plan. The plan amendment
has no effect on current or future retirees’ coverage.
2Includes pension plans maintained around the world where funding is not customary.
The pre-tax amounts recognized in accumulated other comprehensive loss are summarized below:
Pension Benefits Other Benefits
December 31, 2010 2009 2010 2009
Net loss $(9,032) $(8,904) $(889) $(853)
Prior service (cost) benefit (114) (130) 994 911
$(9,146) $(9,034) $ 105 $58
The accumulated benefit obligation for all pension plans was $22,165 and $21,042 at December 31, 2010 and 2009,
respectively.
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