Raytheon 2015 Annual Report Download - page 117
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
107
Components of Net Periodic PRB Expense (Income) PRB Benefits
(In millions) 2015 2014 2013
Service cost $7
$6$8
Interest cost 30 35 32
Expected return on plan assets (28)(33)(32)
Amounts reflected in net funded status 98 8
Amortization of prior service cost included in net periodic PRB expense (1)(1)(2)
Recognized net actuarial loss 21 4
Loss recognized due to settlements 2— —
Amounts reclassified during the year 3— 2
Net periodic PRB expense (income) $ 12 $ 8 $ 10
Funded Status – Amounts Recognized on our Balance Sheets Pension Benefits PRB Benefits
(In millions) December 31: 2015 2014 2015 2014
Noncurrent assets $ 43 $ 28 $— $—
Current liabilities (114)(98)(13)(12)
Noncurrent liabilities (6,474)(6,359)(352)(352)
Net amount recognized on our balance sheets $(6,545)$(6,429)$(365)$(364)
Reconciliation of Amounts Recognized on our Balance Sheets Pension Benefits PRB Benefits
(In millions) December 31: 2015 2014 2015 2014
Accumulated other comprehensive loss:
Prior service (cost) credit $(14)$(18)$2
$4
Net loss (10,793)(11,325)(107)(98)
Accumulated other comprehensive loss (10,807)(11,343)(105)(94)
Accumulated contributions in excess (below) net periodic benefit or
cost 4,262 4,914 (260)(270)
Net amount recognized on our balance sheets $(6,545)$(6,429)$(365)$(364)
Sources of Change in Accumulated Other Comprehensive Loss Pension Benefits PRB Benefits
(In millions) 2015 2014 2015 2014
Prior service (cost) credit arising during period $(1)$(11)$(1)$—
Amortization of prior service cost (credit) included in net income 77(1)(1)
Net change in prior service (cost) credit not recognized in net
income during that period 6(4)(2)(1)
Actuarial gain (loss) arising during period (609)(4,334)(13)(76)
Amortization of net actuarial (gain) loss included in net income 1,127 891 21
Loss due to curtailments/settlements 2—2—
Net change in actuarial gain (loss) not included in net income
during the period 520 (3,443)(9)(75)
Effect of exchange rates 10 9——
Total change in accumulated other comprehensive loss during period $ 536 $(3,438)$(11)$(76)