Johnson Controls 2014 Annual Report Download - page 100

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100
Net Periodic Benefit Cost
The table that follows contains the components of net periodic benefit cost (in millions):
Pension Benefits
Postretirement Benefits U.S. Plans Non-U.S. Plans
Year ended September 30, 2014 2013 2012 2014 2013 2012 2014 2013 2012
Components of Net Periodic
Benefit Cost (Credit):
Service cost $ 70 $ 90 $ 69 $ 38 $ 38 $ 41 $ 5 $ 5 $ 5
Interest cost 138 151 150 71 64 73 12 11 13
Expected return on plan assets (207) (232) (214) (75)(71)(75)(12)(13)(11)
Net actuarial (gain) loss 126 (433) 432 172 48 30 (24)(20)(15)
Amortization of prior service
cost (credit) 1 1 1 (1)(1)(1)(7)(17)(17)
Curtailment gain — — — (2)(26)(2) — — —
Settlement (gain) loss 15 (69) — 1 (1)————
Net periodic benefit cost
(credit) $ 143 $ (492) $ 438 $ 204 $ 51 $ 66 $ (26) $ (34) $ (25)
Expense Assumptions:
Discount rate 4.90% 4.15% 5.25% 3.60% 3.40% 4.00% 4.90% 4.15% 5.25%
Expected return on plan assets 8.00% 8.00% 8.50% 4.75% 4.55% 5.15% 5.80% 5.80% 6.30%
Rate of compensation increase 3.30% 3.25% 3.30% 2.60% 2.45% 2.45% NA NA NA
16. SIGNIFICANT RESTRUCTURING AND IMPAIRMENT COSTS
To better align its resources with its growth strategies and reduce the cost structure of its global operations to address the softness
in certain underlying markets, the Company committed to significant restructuring plans in fiscal 2014, 2013 and 2012 and recorded
$324 million, $957 million and $287 million, respectively, of restructuring and impairment costs in the consolidated statements
of income. The restructuring actions related to cost reduction initiatives in the Company’s Automotive Experience, Building
Efficiency and Power Solutions businesses and included workforce reductions, plant closures, and asset and goodwill impairments.
The restructuring actions are expected to be substantially complete by the end of fiscal 2015.
Additionally, the Company recorded $53 million, $28 million and $10 million of restructuring and impairment costs within
discontinued operations related to the Automotive Experience Electronics business in fiscal 2014, 2013 and 2012, respectively.