GE 2014 Annual Report Download - page 201

GE 2014 FORM 10-K 181
FINANCIAL STATEMENTS ALL OTHER LIABILITIES
POSTRETIREMENT BENEFIT PLANS
2014 COST OF POSTRETIREMENT BENEFIT PLANS AND CHANGES IN OTHER COMPREHENSIVE INCOME
Total Principal Othe
r
Retiree
postretirement pension pension benefit
(In millions) benefit plans plans plans plans
Cost of postretirement benefit plans $ 4,805 $ 3,604 $ 412 $ 789
Changes in other comprehensive income
Prior service cost – current year (615) - (29) (586)
Net actuarial loss – current year(a) 14,843 12,115 1,282 1,446
Net curtailment/settlement (113) (65) - (48)
Prior service cost amortization (573) (214) (6) (353)
Net actuarial gain (loss) amortization (2,620) (2,565) (205) 150
Total changes in other comprehensive income 10,922 9,271 1,042 609
Cost of postretirement benefit plans and
changes in other comprehensive income $ 15,727
$ 12,875 $ 1,454 $ 1,398
(a) Principally associated with discount rate and mortality assumption changes.
NOTE 13. ALL OTHER LIABILITIES
This caption includes liabilities for various items including non-current compensation and benefits, deferred income, interest on
tax liabilities, unrecognized tax benefits, environmental remediation, asset retirement obligations, derivative instruments,
product warranties and a variety of sundry items.
Accruals for non-current compensation and benefits amounted to $42,354 million and $27,853 million at December 31, 2014
and 2013, respectively. These amounts include compensation and benefit liabilities, such as postretirement benefits and
deferred incentive compensation. See Note 12.
We are involved in numerous remediation actions to clean up hazardous wastes as required by federal and state laws.
Liabilities for remediation costs exclude possible insurance recoveries and, when dates and amounts of such costs are not
known, are not discounted. When there appears to be a range of possible costs with equal likelihood, liabilities are based on
the low end of such range. It is reasonably possible that our environmental remediation exposure will exceed amounts
accrued. However, due to uncertainties about the status of laws, regulations, technology and information related to individual
sites, such amounts are not reasonably estimable. Total reserves related to environmental remediation and asbestos claims,
were $2,182 million at December 31, 2014.