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64
Pension Retiree Medical
2005 2004 2005 2004 2005 2004
U.S. International
Change in projected benefit liability
Liability at beginning of year $4,968 $4,456 $ 952 $758 $1,319 $1,264
Service cost 213 193 32 27 40 38
Interest cost 296 271 55 47 78 72
Plan amendments –(17) 31(8) (41)
Participant contributions ––10 9––
Experience loss/(gain) 517 261 203 73 (45) 58
Benefit payments (241) (205) (28) (29) (74) (76)
Settlement/curtailment loss –(9) –(2) ––
Special termination benefits 21 18 –124
Foreign currency adjustment ––(68) 67 ––
Other (3) –104 –––
Liability at end of year $5,771 $4,968 $1,263 $952 $1,312 $1,319
Liability at end of year for service to date $4,783 $4,164 $1,047 $779
Change in fair value of plan assets
Fair value at beginning of year $4,152 $3,558 $ 838 $687 $– $–
Actual return on plan assets 477 392 142 77 ––
Employer contributions/funding 699 416 104 37 74 76
Participant contributions ––10 9––
Benefit payments (241) (205) (28) (29) (74) (76)
Settlement/curtailment loss –(9) –(2) ––
Foreign currency adjustment ––(61) 59 ––
Other (1) –94 –––
Fair value at end of year $5,086 $4,152 $1,099 $838 $– $–
Funded status as recognized in our Consolidated Balance Sheet
Funded status at end of year $ (685) $ (817) $(164) $(113) $(1,312)$(1,319)
Unrecognized prior service cost/(benefit) 5917 13 (113) (116)
Unrecognized experience loss 2,288 2,013 474 380 402 473
Fourth quarter benefit payments 554719 19
Net amounts recognized $1,613 $1,210 $ 331 $ 287 $(1,004) $ (943)
Net amounts as recognized in our Consolidated Balance Sheet
Other assets $2,068 $1,572 $367 $294 $– $–
Intangible assets ––15––
Other liabilities (479) (387) (41) (37) (1,004) (943)
Accumulated other comprehensive loss 24 25 425 ––
Net amounts recognized $1,613 $1,210 $331 $287 $(1,004) $(943)
Components of increase in unrecognized experience loss
Decrease in discount rate $ 365 $– $194 $4 $61 $–
Employee-related assumption changes 57 196 265 –109
Liability-related experience different from assumptions 95 65 74(54) 31
Actual asset return different from expected return (133) (67) (73) (12) ––
Amortization of losses (106) (81) (15) (9) (26) (19)
Other, including foreign currency adjustments
and 2003 Medicare Act (3) (5) (22) 26 (52) (82)
Total $ 275 $108 $93 $78 $(71) $39
Selected information for plans with liability for service to date in excess of plan assets
Liability for service to date $(374) $(320) $(65) $(191) $(1,312) $(1,319)
Projected benefit liability $(815) $(685) $(84) $(227) $(1,312) $(1,319)
Fair value of plan assets $8 $11 $33 $161 $– $–
Of the total projected pension benefit liability at year-end 2005, $765 million relates to plans that we do not fund because the
funding of such plans does not receive favorable tax treatment.