Emerson 2006 Annual Report Download - page 50

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Notes to Consolidated Financial Statements

Retirement plan expense includes the following components:
  u.s.plansnon-u.s.plans
2004  2005  2006 2004  2005  2006
Defined benefit plans:
Service cost (benefits earned during the period) $ 49 48 58 15 14 19
Interest cost 136 145 145 27 31 32
Expected return on plan assets (196) (207) (202) (21) (27) (32)
Net amortization 65 64 100 14 13 16
Net periodic pension expense 54 50 101 35 31 35
Defined contribution and multiemployer plans 66 69 85 22 23 25
Total retirement plan expense $ 120 119 186 57 54 60
The reconciliations of the actuarial present value of the projected benet obligations and of the fair value of plan assets for dened
benet pension plans follow:
  u.s.plansnon-u.s.plans
2005  2006 2005  2006
Projected benefit obligation, beginning $2,330 2,747 607 707
Service cost 48 58 14 19
Interest cost 145 145 31 32
Actuarial loss (gain) 320 (386) 101 (53)
Benefits paid (118) (122) (27) (29)
Acquisitions/divestitures, net 19 17 – 24
Foreign currency translation and other 3 5 (19) 11
Projected benefit obligation, ending $2,747 2,464 707 711
Fair value of plan assets, beginning $2,292 2,566 433 492
Actual return on plan assets 258 233 47 37
Employer contributions 122 91 52 33
Benefits paid (118) (122) (27) (29)
Acquisitions/divestitures, net 10 16 – 18
Foreign currency translation and other 2 1 (13) 4
Fair value of plan assets, ending $2,566 2,785 492 555
Plan assets in excess of (less than) benefit obligation as of June 30 $ (181) 321 (215) (156)
Unrecognized net loss 1,079 564 240 179
Unrecognized prior service cost (benefit) 9 10 (3) (2)
Adjustment for fourth quarter contributions 1 1 1 1
Net amount recognized in the balance sheet $ 908 896 23 22
Accumulated benefit obligation $2,535 2,344 595 612