McKesson 2016 Annual Report Download - page 109

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McKESSON CORPORATION
FINANCIAL NOTES (Continued)
Information regarding the changes in benefit obligations and plan assets for our pension plans is as follows:
U.S. Plans
Years Ended March 31,
Non-U.S. Plans
Years Ended March 31,
(In millions) 2016 2015 2016 2015
Change in benefit obligations
Benefit obligation at beginning of period (1) $ 583 $ 540 $ 963 $ 934
Service cost 4 1 20 16
Interest cost 18 19 24 34
Actuarial loss (gain) (13) 53 (64) 194
Benefit payments (54) (30) (35) (49)
Amendments — — (2) (6)
Expenses paid (3) — — —
Foreign exchange impact and other — — (7) (160)
Benefit obligation at end of period (1) $ 535 $ 583 $ 899 $ 963
Change in plan assets
Fair value of plan assets at beginning of period $ 298 $ 300 $ 612 $ 590
Actual return on plan assets (3) 16 2 88
Employer and participant contributions 24 12 44 73
Benefits paid (54) (30) (35) (49)
Expenses paid (3) — — —
Foreign exchange impact and other — — (16) (90)
Fair value of plan assets at end of period $ 262 $ 298 $ 607 $ 612
Funded status at end of period $(273) $(285) $(292) $(351)
Amounts recognized on the balance sheet
Assets $ — $ — $ 21 $ —
Current liabilities (2) (17) (11) (6)
Long-term liabilities (271) (268) (302) (345)
Total $(273) $(285) $(292) $(351)
(1) The benefit obligation is the projected benefit obligation.
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
March 31,
Non-U.S. Plans
March 31,
(In millions) 2016 2015 2016 2015
Projected benefit obligation $535 $583 $899 $963
Accumulated benefit obligation 535 583 855 897
Fair value of plan assets 262 298 607 612
103