Raytheon 2011 Annual Report Download - page 115
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
107
and December 31, 2010, respectively.
The tables below provide a reconciliation of benefit obligations, plan assets, funded status and related actuarial assumptions
of our domestic and foreign Pension Benefits and Other Benefits plans.
Change in Projected Benefit Obligation
(In millions) December 31:
Projected benefit obligation at beginning of year
Service cost
Interest cost
Plan participants’ contributions
Amendments
Actuarial loss (gain)
Foreign exchange loss (gain)
Benefits paid
Net transfer in
Projected benefit obligation at end of year
Pension Benefits
2011
$19,138
471
1,069
19
(45)
2,205
1
(1,245)
—
$21,613
2010
$17,441
442
1,058
21
15
1,340
(27)
(1,152)
—
$19,138
Other Benefits
2011
$ 788
9
41
46
—
26
—
(98)
—
$ 812
2010
$ 846
9
48
45
—
(64)
—
(96)
—
$ 788
The PBO for our domestic and foreign Pension Benefits plans was $20,905 million and $708 million, respectively at
December 31, 2011 and $18,407 million and $731 million, respectively, at December 31, 2010.
Change in Plan Assets
(In millions) December 31:
Fair value of plan assets at beginning of year
Actual return (loss) on plan assets
Company contributions
Plan participants’ contributions
Foreign exchange gain (loss)
Benefits paid
Net transfer in
Fair value of plan assets at end of year
Pension Benefits
2011
$15,099
(148)
1,828
19
(1)
(1,245)
—
$15,552
2010
$12,839
1,508
1,902
21
(19)
(1,152)
—
$15,099
Other Benefits
2011
$ 433
(3)
18
46
—
(98)
—
$ 396
2010
$ 407
45
32
45
—
(96)
—
$ 433
Retirement Plan Assumptions
Weighted-Average Net Periodic Benefit Cost Assumptions
Discount rate
Expected return on plan assets
Rate of compensation increase
Range
Average
Pension Benefits
2011
5.73%
8.68%
2% -7%
4.50%
2010
6.23%
8.68%
2% -7%
4.51%
2009
6.50%
8.62%
2% -7%
4.48%