General Motors 2011 Annual Report Download - page 134
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GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The following table summarizes the total accumulated benefit obligations (ABO), the fair value of plan assets for defined benefit
pension plans with ABO in excess of plan assets, and the projected benefit obligation (PBO) and fair value of plan assets for defined
benefit pension plans with PBO in excess of plan assets (dollars in millions):
Successor
December 31, 2011 December 31, 2010
U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans
ABO............................................................ $108,195 $25,404 $103,110 $24,371
Plans with ABO in excess of plan assets
ABO.......................................................... $108,195 $24,687 $103,090 $23,519
Fair value of plan assets .......................................... $ 94,349 $13,738 $ 90,983 $13,959
Plans with PBO in excess of plan assets
PBO .......................................................... $108,562 $25,024 $103,375 $24,350
Fair value of plan assets .......................................... $ 94,349 $13,739 $ 90,983 $14,419
The following tables summarize the components of net periodic pension and OPEB expense along with the assumptions used to
determine benefit obligations (dollars in millions).
Successor
Year Ended December 31, 2011
U.S. Plans
Pension Benefits
Non-U.S. Plans
Pension Benefits
U.S. Plans
Other Benefits
Non-U.S. Plans
Other Benefits
Components of expense
Servicecost ............................................... $ 632 $ 399 $ 23 $ 30
Interest cost ............................................... 4,915 1,215 265 186
Expected return on plan assets ................................ (6,692) (925) — —
Amortization of prior service credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2) (2) (39) (9)
Recognized net actuarial loss ................................. — — 6 —
Curtailments, settlements, and other (gains) losses ................ (23) (7) — (749)
Net periodic pension and OPEB (income) expense ................ $(1,170) $ 680 $ 255 $ (542)
Weighted-average assumptions used to determine benefit
obligations
Discount rate .............................................. 4.15% 4.50% 4.24% 4.37%
Rate of compensation increase ................................ 4.50% 3.11% 4.50% 4.20%
Weighted-average assumptions used to determine net expense
Discount rate .............................................. 4.96% 5.16% 5.05% 5.01%
Expected return on plan assets ................................ 8.00% 6.50% N/A N/A
Rate of compensation increase ................................ 3.96% 3.25% 4.50% 4.42%
132 General Motors Company 2011 Annual Report