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72 Textron Inc. Annual Report ● 2012
We also have domestic and foreign funded and unfunded defined benefit pension plans that cover certain of our U.S. and foreign
employees. In addition, several defined contribution plans are sponsored by our various businesses. The largest such plan is the
Textron Savings Plan, which is a qualified 401(k) plan subject to ERISA in which a significant number of our U.S.-based
employees participate. Our defined contribution plans cost approximately $88 million, $85 million and $88 million in 2012, 2011
and 2010, respectively; these amounts include $21 million, $23 million and $25 million, respectively, in contributions to the RAP.
We also provide postretirement benefits other than pensions for certain retired employees in the U.S., which include healthcare,
dental care, Medicare Part B reimbursement and life insurance benefits.
Periodic Benefit Cost
The components of our net periodic benefit cost and other amounts recognized in OCI are as follows:
Pension Benefits
Postretirement Benefits
Other than Pensions
(In millions) 2012 2011 2010 2012 2011 2010
Net periodic benefit cost
Service cost $ 119 $ 129 $ 124 $ 6 $ 8 $ 8
Interest cost 305 327 328 25 33 34
Expected return on plan assets (407) (393) (385) — — —
Amortization of prior service cost (credit) 16 16 16 (11) (8) (4)
Amortization of net actuarial loss 118 75 41 7 11 11
Curtailment and special termination charges — (1) 2 — — —
N
et periodic benefit cos
t
$ 151 $ 153 $ 126 $ 27 $ 44 $ 49
Other changes in plan assets and benefit obligations
recognized in OCI, including foreign exchange
Current year actuarial loss (gain) $ 402 $ 556 $ 171 $ 15 $ (17) $ —
Current year prior service cost (credit) — 7 5 (2) (23) (16)
Amortization of net actuarial loss (118) (75) (41) (7) (11) (11)
Amortization of prior service credit (cost) (16) (16) (16) 11 8 4
Curtailments and settlements — 1 (1) — — —
Total recognized in OCI, before taxes $ 268 $ 473 $ 118 $ 17 $ (43) $ (23)
Total recognized in net periodic benefit cost and OCI $ 419 $ 626 $ 244 $ 44 $ 1 $ 26
The estimated amount that will be amortized from Accumulated other comprehensive loss into net periodic pension costs in 2013
is as follows:
(In millions)
Pension
Benefits
Postretirement
Benefits
Other than
Pensions
N
et actuarial loss $ 184 $ 7
Prior service cost (credit) 15 (11)
$ 199 $ (4)