Ford 2014 Annual Report Download - page 139

Download and view the complete annual report

Please find page 139 of the 2014 Ford annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 200

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200

FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 12. RETIREMENT BENEFITS (Continued)
The year-end status of these plans was as follows (in millions):
Pension Benefits
U.S. Plans Non-U.S. Plans Worldwide OPEB
2014 2013 2014 2013 2014 2013
Change in Benefit Obligation
Benefit obligation at January 1 $ 43,182 $52,125 $30,851 $30,702 $5,889 $ 6,810
Service cost 507 581 468 484 54 64
Interest cost 1,992 1,914 1,189 1,137 269 256
Amendments — — 11 (1) — —
Separation programs and other (50)(75)139 141 —(11)
Curtailments — — — — — —
Settlements — (3,089) (116)(51) — —
Plan participant contributions 26 26 25 25 23 27
Benefits paid (3,028) (3,120) (1,423) (1,416) (406) (421)
Foreign exchange translation — — (2,997) 229 (138) (131)
Actuarial (gain)/loss 3,692 (5,180) 5,076 (399)697 (705)
Benefit obligation at December 31 46,321 43,182 33,223 30,851 6,388 5,889
Change in Plan Assets
Fair value of plan assets at January 1 41,217 42,395 23,843 21,713 — —
Actual return on plan assets 6,542 1,539 3,656 1,689 — —
Company contributions 130 3,535 1,715 1,852 — —
Plan participant contributions 26 26 25 25 — —
Benefits paid (3,028) (3,120) (1,423) (1,416) — —
Settlements — (3,089) (116)(51) — —
Foreign exchange translation — — (2,019) 49 — —
Other (43)(69) (6) (18) — —
Fair value of plan assets at December 31 44,844 41,217 25,675 23,843 — —
Funded status at December 31 $(1,477) $ (1,965) $ (7,548) $ (7,008) $ (6,388)$ (5,889)
Amounts Recognized on the Balance Sheet
Prepaid assets $ 377 $443 $696 $219 $—$ —
Other liabilities (1,854) (2,408) (8,244) (7,227) (6,388)(5,889)
Total $ (1,477) $ (1,965) $ (7,548) $ (7,008) $ (6,388)$ (5,889)
Amounts Recognized in Accumulated Other
Comprehensive Loss (pre-tax)
Unamortized prior service costs/(credits) $ 609 $764 $347 $417 $(710) $ (959)
Unamortized net (gains)/losses 5,810 6,179 11,254 9,902 2,278 1,701
Total $ 6,419 $6,943 $11,601 $10,319 $1,568 $742
Pension Plans in which Accumulated Benefit
Obligation Exceeds Plan Assets at December 31
Accumulated benefit obligation $ 1,906 $25,828 $11,018 $15,393
Fair value of plan assets 150 23,498 4,109 9,518
Accumulated Benefit Obligation at December 31 $44,919 $42,078 $30,098 $28,312
Pension Plans in which Projected Benefit Obligation
Exceeds Plan Assets at December 31
Projected benefit obligation $ 2,004 $25,906 $12,874 $23,653
Fair value of plan assets 150 23,498 4,630 16,426
Projected Benefit Obligation at December 31 $46,321 $43,182 $33,223 $30,851
FS-33