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General Dynamics Annual Report 2011 55
Amounts deferred in AOCI consisted of the following:
The following is a reconciliation of the benefit obligations and plan/trust assets, and the resulting funded status, of our defined-benefit retirement plans:
Amounts recognized on the Consolidated Balance Sheet consisted of the following:
The following is a reconciliation of the change in AOCI for our defined-benefit retirement plans:
Pension Benefits Other Post-retirement Benefits
Year Ended December 31 2010 2011 2010 2011
Change in Benefit Obligation
Benefit obligation at beginning of year $ (8,127) $ (9,238) $ (987) $ (1,145)
Service cost (211) (245) (10) (13)
Interest cost (509) (517) (59) (62)
Amendments (23) (16) (38) (3)
Actuarial loss (736) (670) (126) (40)
Settlement/curtailment/other (74) (2) (5) 3
Benefits paid 442 446 80 81
Benefit obligation at end of year $ (9,238) $ (10,242) $ (1,145) $ (1,179)
Change in Plan/Trust Assets
Fair value of assets at beginning of year $ 5,673 $ 6,250 $ 378 $ 389
Actual return on plan assets 622 80 28 10
Employer contributions 300 351 35 31
Settlement/curtailment/other 69 4 – –
Benefits paid (414) (435) (52) (51)
Fair value of assets at end of year $ 6,250 $ 6,250 $ 389 $ 379
Funded status at end of year $ (2,988) $ (3,992) $ (756) $ (800)
Pension Benefits Other Post-retirement Benefits
December 31 2010 2011 2010 2011
Noncurrent assets $ 106 $ 110 $ – $ –
Current liabilities (72) (90) (182) (185)
Noncurrent liabilities (3,022) (4,012) (574) (615)
Net liability recognized $ (2,988) $ (3,992) $ (756) $ (800)
Pension Benefits Other Post-retirement Benefits
December 31 2010 2011 2010 2011
Net actuarial loss $ 3,778 $ 4,790 $ 177 $ 234
Prior service (credit) cost (321) (258) 33 30
Total amount recognized in AOCI, pretax $ 3,457 $ 4,532 $ 210 $ 264
Pension Benefits Other Post-retirement Benefits
Year Ended December 31 2010 2011 2010 2011
Net actuarial loss $ 714 $ 1,189 $ 130 $ 61
Prior service cost 23 16 38 3
Amortization of:
Net actuarial (loss) gain from prior years (87) (173) 5 (4)
Prior service credit (cost) 41 40 (2) (6)
Other* 10 3 6 –
Change in AOCI, pretax $ 701 $ 1,075 $ 177 $ 54
* Includes foreign exchange translation adjustments.