Pepsi 2014 Annual Report Download - page 116
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96
Pension Retiree Medical
U.S. International
2014 2013 2014 2013 2014 2013
Amounts recognized
Other assets $ 97 $ 603 $ 37 $ 74 $ — $ —
Other current liabilities (42) (41) (1) (1) (57) (72)
Other liabilities (1,240) (925) (281) (155) (967) (906)
Net amount recognized $ (1,185) $ (363) $ (245) $ (82) $ (1,024) $ (978)
Amounts included in accumulated other comprehensive loss (pre-tax)
Net loss/(gain) $ 2,918 $ 2,069 $ 1,003 $ 849 $ (49) $ (222)
Prior service (credit)/cost (18) 125 (7) (6) (166) (69)
Total $ 2,900 $ 2,194 $ 996 $ 843 $ (215) $ (291)
Components of the increase/(decrease) in net loss/(gain) included in accumulated other comprehensive loss
Change in discount rate $ 1,424 $ (1,532) $ 636 $ (166) $ 98 $ (117)
Employee-related assumption changes 345 24 (112) 91 58 2
Liability-related experience different from assumptions (104) (14) (12) 10 34 (13)
Actual asset return different from expected return (470) (336) (225) (108) (19) (49)
Amortization and settlement of losses (316) (285) (61) (68) 4(1)
Other, including foreign currency adjustments (30) —(72) (6) (2) —
Total $ 849 $ (2,143) $ 154 $ (247) $ 173 $ (178)
Liability at end of year for service to date $ 12,206 $ 10,803 $ 2,721 $ 2,369
The components of benefit expense are as follows:
Pension Retiree Medical
U.S. International
2014 2013 2012 2014 2013 2012 2014 2013 2012
Components of benefit expense
Service cost $ 393 $ 467 $ 407 $ 98 $ 111 $ 100 $ 36 $ 45 $ 50
Interest cost 580 527 534 131 118 115 58 54 65
Expected return on plan assets (784) (823) (796) (176) (157) (146) (27) (27) (22)
Amortization of prior service cost/(credit) 21 18 17 —1 1 (28) (23) (26)
Amortization of net loss/(gain) 175 289 259 53 66 53 (4) 1 —
385 478 421 106 139 123 35 50 67
Settlement/curtailment loss/(gain)(a) 141 (4) 185 77 4 —— —
Special termination benefits 24 22 8 —— 1 32 5
Total $ 550 $ 496 $ 614 $ 113 $ 146 $ 128 $ 38 $ 52 $ 72
(a) U.S. includes pension lump sum settlement charge of $141 million in 2014 and $195 million in 2012. These charges are reflected in items
affecting comparability (see additional unaudited information in “Items Affecting Comparability” in Management’s Discussion and Analysis
of Financial Condition and Results of Operations).
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