DuPont 2014 Annual Report Download - page 84

E. I. du Pont de Nemours and Company
Notes to the Consolidated Financial Statements (continued)
(Dollars in millions, except per share)
F-31
The changes and after-tax balances of components comprising accumulated other comprehensive loss are summarized below:
Cumulative
Translation
Adjustment
Net Revaluation
and Clearance of
Cash Flow Hedges
to Earnings Pension Benefit Plans Other Benefit Plans
Unrealized Gain
(Loss) on
Securities Total
2012
Balance January 1, 2012 $ (244) $ 41 $ (8,276) $ (274) $ 3 $ (8,750)
Other comprehensive income (loss)
before reclassifications 77 (1)(1,006) 514 (1)(417)
Amounts reclassified from accumulated
other comprehensive income (loss) — (37) 596 (38) — 521
Balance December 31, 2012 $ (167) $ 3 $ (8,686) $ 202 $ 2 $ (8,646)
2013
Other comprehensive income (loss)
before reclassifications 27 (36) 2,197 468 — 2,656
Amounts reclassified from accumulated
other comprehensive income (loss) — (15) 740 (176) — 549
Balance December 31, 2013 $ (140) $ (48) $ (5,749) $ 494 $ 2 $ (5,441)
2014
Other comprehensive income (loss)
before reclassifications (876) 33 (2,601)(131) — (3,575)
Amounts reclassified from accumulated
other comprehensive income (loss) — 9 401 (101) — 309
Balance December 31, 2014 $ (1,016) $ (6) $ (7,949) $ 262 $ 2 $ (8,707)
17. LONG-TERM EMPLOYEE BENEFITS
The company offers various long-term benefits to its employees. Where permitted by applicable law, the company reserves the
right to change, modify or discontinue the plans.
Defined Benefit Pensions
The company has both funded and unfunded noncontributory defined benefit pension plans covering a majority of the U.S.
employees. Most employees hired on or after January 1, 2007 are not eligible to participate in the U.S. defined benefit pension
plans. The benefits under these plans are based primarily on years of service and employees' pay near retirement. The company's
funding policy is consistent with the funding requirements of federal laws and regulations. Pension coverage for employees of
the company's non-U.S. consolidated subsidiaries is provided, to the extent deemed appropriate, through separate plans. Obligations
under such plans are funded by depositing funds with trustees, covered by insurance contracts, or remain unfunded.
Other Long-term Employee Benefits
The parent company and certain subsidiaries provide medical, dental and life insurance benefits to pensioners and survivors. The
associated plans for retiree benefits are unfunded and the cost of the approved claims is paid from company funds. Essentially all
of the cost and liabilities for these retiree benefit plans are attributable to the U.S. parent company plans. The non-Medicare eligible
retiree medical plan is contributory with pensioners and survivors' contributions adjusted annually to achieve a 50/50 target sharing
of cost increases between the company and pensioners and survivors. In addition, limits are applied to the company's portion of
the retiree medical cost coverage. For Medicare eligible pensioners and survivors, the company provides a company-funded
Health Reimbursement Arrangement (HRA). Beginning January 1, 2015, eligible employees who retire on and after that date will
receive the same life insurance benefit payment, regardless of age.The majority of U.S. employees hired on or after January 1,
2007 are not eligible to participate in the post retirement medical, dental and life insurance plans.
The company also provides disability benefits to employees. Employee disability benefit plans are insured in many countries.
However, primarily in the U.S., such plans are generally self-insured. Obligations and expenses for self-insured plans are reflected
in the figures below.