GE 2015 Annual Report Download - page 199

FINANCIAL STATEMENTS ALL OTHER LIABILITIES
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AMOUNTS INCLUDED IN 6+$5(2:1(56¶ EQUITY
Amounts included in VKDUHRZQHUV¶ equity that will be amortized in future reporting periods follow.
Principal retiree
Other pension plans benefit plans
December 31 (In millions) 2015 2014 2015 201
4
Prior service cost (credit) $ (29) $ (23) $ (3,132) $ (24)
Net actuarial loss (gain) 3,080 3,533 (464) (71)
Total $ 3,051 $ 3,510 $ (3,596) $ (95)
In 2016, we estimate that we will amortize $1 million of prior service cost and $275 million of net actuarial loss for the other pension
plans from VKDUHRZQHUV¶ equity into pension cost. For principal retiree benefit plans, the estimated prior service credit and net actuarial
gain to be amortized in 2016 will be $165 million and $55 million, respectively. Comparable amounts amortized in 2015, respectively,
were an insignificant amount and $289 million of net actuarial loss for the other pension plans and $8 million of prior service credit and
$25 million of net actuarial gain for the principal retiree benefit plans.
OUR FUNDING POLICY
Our policy for funding the GE Pension Plan is to contribute amounts sufficient to meet minimum funding requirements under employee
benefit and tax laws. We may decide to contribute additional amounts beyond this level. We did not make contributions to the GE
Pension Plan in 2015 and 2014. The minimum funding requirements under U.S. law do not require a contribution to be made in 2016.
We expect to pay approximately $250 million for benefit payments under our GE Supplementary Pension Plan and administrative
expenses of our principal pension plans and expect to contribute approximately $930 million to other pension plans in 2016. In 2015,
comparative amounts were $233 million and $549 million, respectively.
We fund retiree health benefits on a pay-as-you-go basis and the retiree life insurance trust at our discretion. We expect to contribute
approximately $490 million in 2016 to fund such benefits. In 2015, we contributed $501 million for these plans.
Further information about our pension plans and principal retiree benefit plans can be found in Note 27.
NOTE 13. ALL OTHER LIABILITIES
This caption includes liabilities for various items including deferred income, interest on tax liabilities, unrecognized tax benefits,
environmental remediation, asset retirement obligations, derivative instruments, product warranties and a variety of sundry items.
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 $1,869 million at December 31, 2015.
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