Coca Cola 2010 Annual Report Download - page 132

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Pension and other benefit amounts recognized in our consolidated balance sheets are as follows (in millions):
Pension Benefits Other Benefits
December 31, 2010 2009 2010 2009
Noncurrent asset $66$65$—$—
Current liability (55) (42) (21) (1)
Long-term liability (1,806) (987) (681) (309)
Net liability recognized $ (1,795) $ (964) $ (702) $ (310)
Effective January 1, 2010, the Company’s existing primary U.S. pension plan was transitioned from a traditional final
average pay formula to a cash balance formula. In general, employees may receive credits based on age, service, pay
and interest under the new method. The primary pension plan acquired by the Company in connection with our
acquisition of CCE’s North American business is expected to transition to a cash balance formula in 2011.
Certain of our pension plans have projected benefit obligations in excess of the fair value of plan assets. For these
plans, the projected benefit obligations and the fair value of plan assets were as follows (in millions):
December 31, 2010 2009
Projected benefit obligation $ 7,024 $ 3,718
Fair value of plan assets 5,172 2,687
Certain of our pension plans have accumulated benefit obligations in excess of the fair value of plan assets. For these
plans, the accumulated benefit obligations and the fair value of plan assets were as follows (in millions):
December 31, 2010 2009
Accumulated benefit obligation $ 6,503 $ 3,139
Fair value of plan assets 4,981 2,418
Pension Plan Assets
The following table presents total assets for our U.S. and non-U.S. pension plans (in millions):
U.S. Plans Non-U.S. Plans
December 31, 2010 2009 2010 2009
Cash and cash equivalents $88$ 169 $38$41
Equity securities:
U.S.-based companies 1,324 744 30 —
International-based companies 631 154 107 11
Fixed income securities:
Government bonds 268 61 163 164
Corporate bonds and debt securities 625 339 20 16
Mutual, pooled and commingled funds1431 256 700 736
Hedge funds/limited partnerships 415 80 23 —
Real estate 230 107 12 46
Other 106 65 286 43
Total pension plan assets2$ 4,118 $ 1,975 $ 1,379 $ 1,057
1Mutual, pooled and commingled funds include investments in equity securities, fixed income securities and combinations of both.
There are a significant number of mutual and pooled funds from which investors can choose. The selection of the type of fund is
dictated by the specific investment objectives and needs of a given plan. These objectives and needs vary greatly between plans.
2Fair value disclosures related to our pension assets are included in Note 16. Fair value disclosures include, but are not limited to,
the level within the fair value hierarchy on which the fair value measurements in their entirety fall, a reconciliation of the beginning
and ending balances of Level 3 assets and information about the valuation techniques and inputs used to measure the fair value of
our pension and other postretirement assets.
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