General Motors 2010 Annual Report Download - page 202

GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
GMCL will be legally released from all obligations associated with the cost of providing retiree healthcare benefits to CAW active
and retired employees bound by the class action process, and we will account for the related termination of CAW hourly retiree
healthcare benefits as a settlement, based upon the difference between the fair value of the notes and cash contributed and the
healthcare plan obligation at the settlement date. As a result of the conditions precedent to this agreement not having yet been
achieved, there was no accounting recognition for the healthcare trust at December 31, 2010.
The following tables summarize the change in benefit obligations and related plan assets (dollars in millions):
Successor
Year Ended December 31, 2010
U.S. Plans
Pension Benefits
Non-U.S. Plans
Pension Benefits
U.S. Plans
Other Benefits
Non-U.S. Plans
Other Benefits
Change in benefit obligations
Beginning benefit obligation .................................. $101,571 $24,374 $ 5,788 $ 3,797
Service cost ............................................... 451 386 21 32
Interest cost ............................................... 5,275 1,187 288 200
Plan participants’ contributions ................................ — 7 53 9
Amendments .............................................. 2 (5) 3 —
Actuarial losses ............................................ 5,251 168 255 185
Benefits paid .............................................. (9,149) (1,447) (740) (173)
Foreign currency translation adjustments ........................ — 189 — 200
Divestitures ............................................... (6) (75) (2) —
Curtailments, settlements, and other ............................ — (22) 1 2
Ending benefit obligation .................................... 103,395 24,762 5,667 4,252
Change in plan assets
Beginning fair value of plan assets ............................. 84,500 14,027 31 —
Actual return on plan assets .................................. 11,561 1,234 5 —
Employer contributions ...................................... 4,095 777 651 164
Plan participants’ contributions ................................ — 7 53 9
Benefits paid .............................................. (9,149) (1,447) (740) (173)
Foreign currency translation adjustments ........................ — 505 — —
Divestitures ............................................... — (59) — —
Settlements ............................................... — (174) — —
Other .................................................... — 33 — —
Ending fair value of plan assets ............................... 91,007 14,903 — —
Ending funded status ........................................ $(12,388) $ (9,859) $(5,667) $(4,252)
Amounts recorded in the consolidated balance sheet
Non-current asset ........................................... $ — $ 72 $ — $ —
Current liability ............................................ (93) (332) (440) (185)
Non-current liability ........................................ (12,295) (9,599) (5,227) (4,067)
Net amount recorded ........................................ $(12,388) $ (9,859) $(5,667) $(4,252)
Amounts recorded in Accumulated other comprehensive income
(loss)
Net actuarial gain (loss) ..................................... $ 3,609 $ (701) $ (460) $ (259)
Net prior service credit ...................................... 10 12 — 85
Total recorded in Accumulated other comprehensive income (loss) . . . $ 3,619 $ (689) $ (460) $ (174)
200 General Motors Company 2010 Annual Report