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67
Qualified and Non-qualified Postretirement
Pension Benefits Benefits
United States International
(Millions) 2007 2006 2007 2006
2007 2006
Amounts recognized in the Consolidated
Balance Sheet as of Dec. 31,
Non-current assets $1,246 $ 269 $ 132 $ 126 $ – $ –
Accrued benefit cost
Current liabilities (27) (26) (6) (5) (2) –
Non-current liabilities (338) (332) (558) (601)
(452) (504)
Ending balance $ 881 $ (89) $(432) $(480) $(454) $(504)
Amounts recognized in accumulated other
comprehensive income as of Dec. 31,
Net transition obligation (asset) $ – $ – $ 1 $ 3 $ – $ –
Net actuarial loss (gain) 1,210 2,027 884 899 768 874
Prior service cost (credit) 68 64 (45) (65)
(365) (339)
Ending balance $1,278 $2,091 $ 840 $ 837 $ 403 $ 535
The accumulated benefit obligation of the U.S. pension plans was $9.643 billion and $9.560 billion at December 31,
2007 and 2006, respectively. The accumulated benefit obligation of the international pension plans was $4.421 billion
and $3.756 billion at December 2007 and 2006, respectively.
The U.S. nonqualified pension plan had a projected benefit obligation of $360 million and $354 million, respectively,
as of December 31, 2007 and 2006, and has no plan assets due to the nature of the plan. The accumulated benefit
obligation of the nonqualified pension plan is equal to the projected benefit obligation.
The following amounts relate to international pension plans with projected benefit obligations in excess of plan assets
as of December 31:
(Millions)
2007 2006
Projected benefit obligation $4,346 $3,680
Accumulated benefit obligation 3,989 3,049
Fair value of plan assets 3,782 3,073
The following amounts relate to international pension plans with accumulated benefit obligations in excess of plan
assets as of December 31:
(Millions)
2007 2006
Projected benefit obligation $3,497 $1,020
Accumulated benefit obligation 3,271 854
Fair value of plan assets 2,984 578