Emerson 2011 Annual Report Download - page 41

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Annual Report | 39
(10) Retirement Plans
Retirement plans expense includes the following components:
u.s. plans non-u.s. plans
2009 2010 2011 2009 2010 2011
Defined benefit plans:
Service cost (benefits earned
during the period) $ 46 51 52 22 24 30
Interest cost 174 175 172 45 45 50
Expected return on plan assets (243) (263) (279) (37) (42) (49)
Net amortization 70 122 147 17 20 22
Net periodic pension expense 47 85 92 47 47 53
Defined contribution plans 80 81 98 37 36 50
Total retirement plans expense $ 127 166 190 84 83 103
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
2010 2011 2010 2011
Projected benefit obligation, beginning $ 3,202 3,466 864 1,061
Service cost 51 52 24 30
Interest cost 175 172 45 50
Actuarial (gain) loss 207 114 112 (125)
Benefits paid (157) (167) (45) (53)
Acquisitions/divestitures, net (15) – 61 –
Foreign currency translation and other 3 7 – (3)
Projected benefit obligation, ending $ 3,466 3,644 1,061 960
Fair value of plan assets, beginning $ 2,822 3,206 634 714
Actual return on plan assets 328 29 60 –
Employer contributions 212 112 35 30
Benefits paid (157) (167) (45) (53)
Acquisitions/divestitures, net – – 41 –
Foreign currency translation and other 1 2 (11) (1)
Fair value of plan assets, ending $ 3,206 3,182 714 690
Net amount recognized in the balance sheet $ (260) (462) (347) (270)
Amounts recognized in the balance sheet:
Noncurrent asset $ – – 5 4
Noncurrent liability $ (260) (462) (352) (274)
Accumulated other comprehensive loss $(1,439) (1,659) (338) (240)
Approximately $184 of the $1,899 of losses deferred in accumulated other comprehensive income at September 30,
2011, will be amortized into earnings in 2012. As of September 30, 2011, retirement plans in total were under-
funded by $732.