National Oilwell Varco 2003 Annual Report Download - page 43

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42
Additional disclosures for the U.S.defined benefit plan and defined benefit health care plans
in the United States follow (in thousands):
Fiscal Period January 1 to December 31 FYE 2003 FYE 2002
Disclosure Assumptions
For determining benefit obligations at year-end:
Discount rate 6.25% 6.50%
Salary increase n/a n/a
For determining net periodic cost for year:
Discount rate 6.50% 6.87%
Salary increase n/a n/a
Expected return on assets 8.50% 8.50%
Measurement date 9/30/2003 9/30/2002
Plan Asset Allocation
Asset category Target 2004
FYE
12/31/2003
FYE
12/31/2002
Equity securities 55-65% 60.5% 57.0%
Debt securities 35-45% 38.0% 40.2%
Real estate - - -
Other - 1.5% 2.8%
Total 100% 100%
Information for Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets
Projected benefit obligation 17,536$ 17,549$
Accumulated benefit obligation 17,536 17,549
Fair value of assets 12,341 11,210
Additional Information for Defined Benefit Pension Plans
Accumulated benefit obligation 17,536$ 17,549$
Increase in minimum liability included in other comprehensive income (573) (6,065)
Cash Flows
Employer contributions (expected during fiscal year beginning in 2004) 1,200$
National Oilwell Defined Benefit Pension Plan