Raytheon 2011 Annual Report Download - page 113

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
105
The table below reflects the total Pension Benefits expected to be paid from the plans or from our assets, including both our
share of the benefit cost and the participants’ share of the cost, which is funded by participant contributions. Other Benefit
payments reflect our portion only.
(In millions)
2012
2013
2014
2015
2016
Thereafter
Pension
Benefits
$ 1,249
1,296
1,346
1,360
1,360
7,405
Other
Benefits
$ 64
63
63
62
62
303
Defined-Benefit Retirement Plan Summary Financial Information
The tables below outline the components of net periodic benefit cost and related actuarial assumptions of our domestic and
foreign Pension Benefits and Other Benefits plans.
Components of Net Periodic Benefit Cost
(In millions)
Service cost
Interest cost
Expected return on plan assets
Amounts reflected in net funded status
Amortization of prior service credit
Recognized net actuarial loss
Loss due to curtailments/settlements
Amounts reclassified during the year
Net periodic benefit cost
Pension Benefits
2011
$ 471
1,069
(1,272)
268
11
792
2
805
$ 1,073
2010
$ 442
1,058
(1,215)
285
13
596
2
611
$ 896
2009
$ 401
1,031
(1,221)
211
13
422
—
435
$ 646
Net periodic benefit cost also includes expense from foreign Pension Benefits plans of $11 million, $21 million and $19
million in 2011, 2010 and 2009, respectively.
Components of Net Periodic Benefit Cost (Credit)
(In millions)
Service cost
Interest cost
Expected return on plan assets
Amounts reflected in net funded status
Amortization of transition obligation
Amortization of prior service credit
Recognized net actuarial loss
Amounts reclassified during the year
Net periodic benefit cost (credit)
Other Benefits
2011
$ 9
41
(34)
16
4
(10)
3
(3)
$ 13
2010
$ 9
48
(32)
25
4
(45)
5
(36)
$(11)
2009
$ 9
53
(30)
32
4
(52)
5
(43)
$(11)
Funded Status – Amounts Recognized on the Balance Sheets
(In millions) December 31:
Noncurrent assets
Current liabilities
Noncurrent liabilities
Net amount recognized on the balance sheets
Pension Benefits
2011
$ 2
(51)
(6,012)
$(6,061)
2010
$ 103
(48)
(4,093)
$(4,038)
Other Benefits
2011
$ —
(16)
(400)
$(416)
2010
$ —
(16)
(339)
$(355)