Mondelez 2014 Annual Report Download - page 88
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Table of Contents
For the U.S. plans, we determine the expected return on plan assets component of net periodic benefit cost using a calculated
market return value that recognizes the cost over a four year period. For our non-U.S. plans, we utilize a similar approach with
varying cost recognition periods for some plans, and with others, we determine the expected return on plan assets based on asset
fair values as of the measurement date.
As of December 31, 2014, for the combined U.S. and non-U.S. pension plans, we expected to amortize from accumulated other
comprehensive earnings / (losses) into net periodic pension cost during 2015:
We used the following weighted-average assumptions to determine our net pension cost:
Plan Assets:
The fair value of pension plan assets was determined using the following fair value measurements:
85
• an estimated $224 million of net loss from experience differences; and
• less than $1 million of estimated prior service cost.
U.S. Plans
Non
-
U.S. Plans
For the Years Ended December 31,
For the Years Ended December 31,
2014
2013
2012
2014
2013
2012
Discount rate
5.10%
4.20%
4.56%
4.03%
3.81%
4.62%
Expected rate of return on plan assets
7.75%
7.75%
8.00%
6.17%
6.08%
6.47%
Rate of compensation increase
4.00%
4.00%
4.00%
3.63%
3.47%
3.58%
As of December 31, 2014
Quoted Prices
Significant
Asset Category
Total Fair
Value
in Active Markets
for Identical
Assets
(Level 1)
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
(in millions)
U.S. equity securities
$
124
$
124
$
–
$
–
Non-U.S. equity securities
698
698
–
–
Pooled funds - equity securities
2,192
538
1,654
–
Total equity securities
3,014
1,360
1,654
–
Government bonds
2,283
234
2,049
–
Pooled funds
-
fixed
-
income securities
1,151
311
743
97
Corporate bonds and other
fixed
-
income
securities
1,174
314
111
749
Total fixed
-
income securities
4,608
859
2,903
846
Real estate
406
110
4
292
Hedge funds
829
–
–
829
Private equity
237
–
–
237
Cash
253
246
7
–
Other
157
124
30
3
Total
$
9,504
$
2,699
$
4,598
$
2,207