McKesson 2014 Annual Report Download - page 94

Download and view the complete annual report

Please find page 94 of the 2014 McKesson annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 133

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133

McKESSON CORPORATION
FINANCIAL NOTES (Continued)
91
Information regarding the changes in benefit obligations and plan assets for our pension plans is as follows:
U.S. Plans Non-U.S. Plans
Years Ended March 31, Years Ended March 31,
(In millions) 2014 2013 2014 2013
Change in benefit obligations
Benefit obligation at beginning of period (1) $ 580 $ 527 $ 156 $ 143
Service cost 4 4 6 3
Interest cost 19 21 11 7
Actuarial (gain) loss (24) 58 15 15
Benefit payments (30)(29)(12)(6)
Amendments (9) — — —
Acquisitions — — 740 —
Foreign exchange impact and other — (1) 18 (6)
Benefit obligation at end of period (1) $ 540 $ 580 $ 934 $ 156
Change in plan assets
Fair value of plan assets at beginning of period $ 290 $ 284 $ 135 $ 126
Actual return on plan assets 28 19 11 12
Employer and participant contributions 12 17 12 8
Benefits paid (30)(29)(10)(6)
Acquisitions — — 426 —
Foreign exchange impact and other — (1) 16 (5)
Fair value of plan assets at end of period $ 300 $ 290 $ 590 $ 135
Funded status at end of period $ (240) $ (290) $ (344) $ (21)
Amounts recognized on the balance sheet
Current liabilities $ (13) $ (3) $ (9) $ —
Long-term liabilities (227)(287)(335)(21)
Total $ (240) $ (290) $ (344) $ (21)
(1) The benefit obligation is the projected benefit obligation.
The projected and accumulated benefit obligations for our pension plans increased significantly from last year due to the
acquisition of Celesio. The following table provides the projected benefit obligation, accumulated benefit obligation and fair value
of plan assets for all our pension plans with an accumulated benefit obligation in excess of plan assets.
U.S. Plans Non-U.S. Plans
March 31, March 31,
(In millions) 2014 2013 2014 2013
Projected benefit obligation $ 540 $ 580 $ 934 $ 156
Accumulated benefit obligation 540 579 894 154
Fair value of plan assets 300 290 590 135