Emerson 2005 Annual Report Download - page 53

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E M E R S O N 2 0 0 5 4 1
(10) RETIREMENT PLANS
Retirement plan expense includes the following components:
U.S. Plans Non-U.S. Plans
2003 2004 2005 2003 2004 2005
Defined benefit plans:
Service cost (benefits earned during the period) $ 41 49 48 11 15 14
Interest cost 136 136 145 22 27 31
Expected return on plan assets (187) (196) (207) (22) (21) (27)
Net amortization 34 65 64 3 14 13
Net periodic pension expense 24 54 50 14 35 31
Defined contribution and multiemployer plans 60 66 69 22 22 23
Total retirement plan expense $ 84 120 119 36 57 54
The reconciliations of the actuarial present value of the projected benefit obligations and of the fair value of plan assets for defined benefit
pension plans follow:
U.S. Plans Non-U.S. Plans
2004 2005 2004 2005
Projected benefit obligation, beginning $2,264 2,330 526 607
Service cost 49 48 15 14
Interest cost 136 145 27 31
Actuarial loss (gain) (82) 320 2 101
Benefits paid (108) (118) (16) (27)
Acquisitions/divestitures, net 67 19 6 —
Foreign currency translation and other 4 3 47 (19)
Projected benefit obligation, ending $2,330 2,747 607 707
Fair value of plan assets, beginning $1,962 2,292 326 433
Actual return on plan assets 318 258 30 47
Employer contributions 67 122 60 52
Benefits paid (108) (118) (16) (27)
Acquisitions/divestitures, net 51 10 4 —
Foreign currency translation and other 2 2 29 (13)
Fair value of plan assets, ending $2,292 2,566 433 492
Plan assets in excess of (less than) benefit
obligation as of June 30 $ (38) (181) (174) (215)
Unrecognized net loss 872 1,079 176 240
Unrecognized prior service cost (benefit) 10 9 (3) (3)
Adjustment for fourth quarter contributions 51 1 1 1
Net amount recognized in the balance sheet $ 895 908 — 23
Accumulated benefit obligation $2,151 2,535 540 595