Halliburton 2015 Annual Report Download - page 90

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73
Net periodic benefit cost
Net periodic benefit cost for our international pension plans was $42 million in 2015, which included $9 million of net
curtailment and settlement cost arising from reductions in workforce during the year. Net periodic benefit cost for our
international pension plans was $36 million in 2014, and $32 million in 2013.
Actuarial assumptions
Certain weighted-average actuarial assumptions used to determine benefit obligations of our international pension
plans at December 31 were as follows:
2015 2014
Discount rate 4.2% 4.1%
Rate of compensation increase 5.4% 5.3%
Certain weighted-average actuarial assumptions used to determine net periodic benefit cost of our international
pension plans for the years ended December 31 were as follows:
2015 2014 2013
Discount rate 4.1% 4.8% 4.8%
Expected long-term return on plan assets 5.9% 6.4% 6.4%
Rate of compensation increase 5.3% 5.4% 5.5%
Assumed long-term rates of return on plan assets, discount rates for estimating benefit obligations, and rates of
compensation increases vary by plan according to local economic conditions. Discount rates were determined based on the
prevailing market rates of a portfolio of high-quality debt instruments with maturities matching the expected timing of the
payment of the benefit obligations. Expected long-term rates of return on plan assets were determined based upon an evaluation
of our plan assets and historical trends and experience, taking into account current and expected market conditions.
Other information
Contributions. Funding requirements for each plan are determined based on the local laws of the country where such
plan resides. In certain countries the funding requirements are mandatory, while in other countries they are discretionary. We
currently expect to contribute $14 million to our international pension plans in 2016.
Benefit payments. The following table presents expected benefit payments over the next 10 years for our international
pension plans.
Millions of dollars
2016 $ 51
2017 37
2018 39
2019 44
2020 44
Years 2021 - 2025 280