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74 PepsiCo, Inc. 2009 Annual Report
Notes to Consolidated Financial Statements
Selected financial information for our pension and retiree medical plans is as follows:
Pension Retiree Medical
2009 20082009 2008 2009 2008
U.S. International
Change in projected benefit liability
Liability at beginning of year $«6,217 $«6,048 $1,270 $1,595 $«1,370 $«1,354
Measurement date change –(199) –113 –(37)
Service cost 238 244 54 61 44 45
Interest cost 373 371 82 88 82 82
Plan amendments –(20) –2–(47)
Participant contributions ––10 17 ––
Experience loss/(gain) 70 28 221 (165) (63) 58
Benefit payments (296) (277) (50) (51) (80) (70)
Settlement/curtailment loss –(9) (8) (15) –(2)
Special termination benefits –31 –2–3
Foreign currency adjustment ––130 (376) 6(10)
Other 4––(1) –(6)
Liability at end of year $«6,606 $«6,217 $1,709 $1,270 $«1,359 $«1,370
Change in fair value of plan assets
Fair value at beginning of year $«3,974 $«5,782 $1,165 $1,595 $÷÷÷÷– $÷÷÷÷–
Measurement date change –(136) –97 ––
Actual return on plan assets 697 (1,434) 159 (241) 2–
Employer contributions/funding 1,041 48 167 101 91 70
Participant contributions ––10 17 ––
Benefit payments (296) (277) (50) (51) (80) (70)
Settlement/curtailment loss –(9) (8) (11) ––
Foreign currency adjustment ––118 (341) ––
Other 4––(1) ––
Fair value at end of year $«5,420 $«3,974 $1,561 $1,165 $÷÷÷13 $÷÷÷÷–
Funded status $(1,186) $(2,243) $÷(148) $÷(105) $(1,346) $(1,370)
Amounts recognized
Other assets $÷÷÷÷– $÷÷÷÷– $÷÷«50 $÷÷«28 $÷÷÷÷– $÷÷÷÷–
Other current liabilities (36) (60) (1) (1) (105) (102)
Other liabilities (1,150) (2,183) (197) (132) (1,241) (1,268)
Net amount recognized $(1,186) $(2,243) $÷(148) $÷(105) $(1,346) $(1,370)
Amounts included in accumulated other
comprehensive loss (pre-tax)
Net loss $«2,563 $«2,826 $÷«625 $÷«421 $÷÷190 $÷÷266
Prior service cost/(credit) 101 112 20 20 (102) (119)
Total $«2,664 $«2,938 $÷«645 $÷«441 $÷÷÷88 $÷÷147
Components of the (decrease)/increase in net loss
Measurement date change $÷÷÷÷– $÷«(130) $÷÷÷«– $÷«105 $÷÷÷÷– $÷÷«(53)
Change in discount rate 47 247 97 (219) 11 36
Employee-related assumption changes –(194) 70 52 (38) 6
Liability-related experience different from assumptions 23 (25) 51 (4) (36) 10
Actual asset return different from expected return (235) 1,850 (54) 354 (2) –
Amortization of losses (111) (58) (9) (19) (11) (8)
Other, including foreign currency adjustments and 2003 Medicare Act 13 –49 (135) –(1)
Total $÷«(263) $«1,690 $÷«204 $÷«134 $÷÷«(76) $÷÷«(10)
Liability at end of year for service to date $«5,784 $«5,413 $1,414 $1,013
88045_pepsico-09ar_64-86_R1.indd 74 2/24/10 5:05 PM