Raytheon 2012 Annual Report Download - page 116
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
108
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)
Pension
Benefits
Other
Benefits
2013 $ 1,419 $ 56
2014 1,469 57
2015 1,514 57
2016 1,511 57
2017 1,504 57
Thereafter (next 5 years) 7,824 279
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 Pension Benefits
(In millions) 2012 2011 2010
Service cost $ 516 $ 471 $ 442
Interest cost 1,047 1,069 1,058
Expected return on plan assets (1,422)(1,272)(1,215)
Amounts reflected in net funded status 141 268 285
Amortization of prior service cost 10 11 13
Recognized net actuarial loss 939 792 596
Loss due to curtailments/settlements 32 2
Amounts reclassified during the year 952 805 611
Net periodic benefit cost $ 1,093 $ 1,073 $ 896
Net periodic benefit cost also includes expense from foreign Pension Benefits plans of $7 million, $11 million and $21 million
in 2012, 2011 and 2010, respectively.
Components of Net Periodic Benefit Cost (Credit) Other Benefits
(In millions) 2012 2011 2010
Service cost $8
$9$9
Interest cost 38 41 48
Expected return on plan assets (31)(34)(32)
Amounts reflected in net funded status 15 16 25
Amortization of transition obligation 14 4
Amortization of prior service credit (3)(10)(45)
Recognized net actuarial loss 33 5
Amounts reclassified during the year 1(3)(36)
Net periodic benefit cost (credit) $ 16 $ 13 $ (11)