GE 2015 Annual Report Download - page 197

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FINANCIAL STATEMENTS POSTRETIREMENT BENEFIT PLANS
GE 2015 FORM 10-K 169
PROJECTED BENEFIT OBLIGATIONS
Principal pension plans
(In millions) 2015 2014
Balance at January 1 $ 70,735 $ 58,113
Service cost for benefits earned 1,424 1,205
Interest cost on benefit obligations 2,778 2,745
Participant contributions 155 153
Plan amendments 902 -
A
ctuarial loss (gain) (4,017)(a) 11,718 (b)
Benefits paid (3,255) (3,199)
Balance at December 31(c) $ 68,722 $ 70,735
(a) Principally associated with discount rate changes.
(b) Principally associated with discount rate and mortality assumption changes.
(c) The PBO for the GE Supplementary Pension Plan, which is an unfunded plan, was $6,099 million and $6,632 million at year-end 2015 and
2014, respectively.
THE COMPOSITION OF OUR PLAN ASSETS
The fair value of our pension plans' investments is presented below. The inputs and valuation techniques used to measure the fair
value of these assets are described in Note 1 and have been applied consistently.
Principal pension plans
December 31 (in millions) 2015 201
4
Equity securities
U.S. equity securities(a) $ 12,447 $ 12,956
Non-U.S. equity securities(a) 9,088 9,153
Debt securities
Fixed income and cash investment funds 3,252 4,500
U.S. corporate(b) 5,529 5,155
Other debt securities(c) 5,131 5,729
Private equities(a) 4,885 5,249
Real estate(a) 3,186 3,129
Other investments(d) 2,202 2,409
Total plan assets $ 45,720 $ 48,280
(a) Included direct investments and investment funds.
(b) Primarily represented investment-grade bonds of U.S. issuers from diverse industries.
(c) Primarily represented investments in residential and commercial mortgage-backed securities, non-U.S. corporate and government bonds and
U.S. government, federal agency, state and municipal debt.
(d) Substantially all represented hedge fund investments.
Virtually all of the private equity, real estate and other investments are considered Level 3 investments. The remaining investments are
substantially all considered Level 1 or Level 2. A description of the fair value leveling hierarchy is provided in the Accounting Principles
and Policy section of Note 1.
FAIR VALUE OF PLAN ASSETS
Principal pension plans
(In millions) 2015 2014
Balance at January 1 $ 48,280 $ 48,297
A
ctual gain on plan assets 307 2,793
Employer contributions 233 236
Participant contributions 155 153
Benefits paid (3,255) (3,199)
Balance at December 31 $ 45,720 $ 48,280
GE 2015 FORM 10-K 169