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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
59
The following table provides a reconciliation of the changes in the pension and postretirement healthcare plans’ benefi t obligations
and fair value of assets over the two-year period ended May 31, 2009 and a statement of the funded status as of May 31, 2009 and
2008 (in millions):
Pension Plans (1) Postretirement Healthcare Plans (1)
2009 2008 2009 2008
Accumulated Benefi t Obligation (“ABO”) $ 10,745 $ 11,212
Changes in Projected Benefi t Obligation (“PBO”) and
Accumulated Postretirement Benefi t Obligation (“APBO”)
PBO/APBO at the beginning of year $ 11,617 $ 12,209 $ 492 $ 525
Adjustments due to change in measurement date
Service cost plus interest cost during gap period 309 – 16 –
Additional experience during gap period (302) – (19) –
Changes due to gap period cash fl ow (83) – (5) –
Service cost 499 518 31 35
Interest cost 798 720 33 31
Actuarial (gain) loss (1,420) (1,531) (94) (56)
Benefi ts paid (351) (318) (42) (40)
Amendments (1) 1 – –
Other (16) 18 21 (3)
PBO/APBO at the end of year $ 11,050 $ 11,617 $ 433 $ 492
Change in Plan Assets
Fair value of plan assets at beginning of year $ 11,879 $ 11,506 $ – $ –
Adjustments due to change in measurement date
Additional experience during gap period 522 – – –
Changes due to gap period cash fl ow (76) – – –
Actual return on plan assets (2,306) 141 – –
Company contributions 1,146 548 21 64
Benefi ts paid (351) (318) (42) (40)
Other (2) 2 21 (24)
Fair value of plan assets at end of year $ 10,812 $ 11,879 $ – $ –
Funded Status of the Plans $ (238) $ 262 $ (433) $ (492)
Employer contributions after measurement date – 15 – 5
Net amount recognized $ (238) $ 277 $ (433) $ (487)
Amount Recognized in the Balance Sheet at May 31:
Noncurrent pension assets $ 311 $ 827 $ – $ –
Current pension, postretirement healthcare
and other benefi t obligations (31) (32) (26) (30)
Noncurrent pension, postretirement healthcare
and other benefi t obligations (518) (518) (407) (457)
Net amount recognized $ (238) $ 277 $ (433) $ (487)
Amounts Recognized in AOCI and not yet refl ected in
Net Periodic Benefi t Cost:
Net actuarial loss (gain) $ 3,731 $ 2,455 $ (248) $ (144)
Prior service (credit) cost and other (1,220) (1,362) 2 2
Total $ 2,511 $ 1,093 $ (246) $ (142)
Amounts Recognized in AOCI and not yet refl ected in
Net Periodic Benefi t Cost expected to be amortized
in next year’s Net Periodic Benefi t Cost:
Net actuarial loss (gain) $ 130 $ 51 $ (12) $ (7)
Prior service credit and other (113) (114) – –
Total $ 17 $ (63) $ (12) $ (7)
(1) The measurement date for 2009 is May 31, 2009, and the measurement date for 2008 is February 29, 2008.