General Motors 2014 Annual Report Download - page 102
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GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Pension and OPEB Obligations and Plan Assets
The following table summarizes the change in benefit obligations and related plan assets (dollars in millions):
Year Ended December 31, 2014 Year Ended December 31, 2013
Pension Benefits Other Benefits Pension Benefits Other Benefits
U.S. Plans
Non-U.S.
Plans U.S. Plans
Non-U.S.
Plans U.S. Plans
Non-U.S.
Plans U.S. Plans
Non-U.S.
Plans
Change in benefit obligations
Beginning benefit obligation ............ $ 71,480 $ 27,528 $ 5,110 $ 1,238 $ 82,110 $ 29,301 $ 6,271 $ 1,528
Service cost .......................... 247 358 13 10 298 394 24 13
Interest cost .......................... 3,060 1,031 218 55 2,837 1,010 217 57
Amendments ......................... — 17 — — — (4) — (4)
Actuarial (gains) losses ................. 7,770 3,179 331 117 (7,661) (1,009) (757) (210)
Benefits paid ......................... (5,779) (1,699) (376) (50) (5,719) (1,683) (422) (53)
Foreign currency translation adjustments . . . — (2,536) — (108) — (528) — (98)
Curtailments, settlements and other ....... (54) 19 (7) 74 (385) 47 (223) 5
Ending benefit obligation ............... 76,724 27,897 5,289 1,336 71,480 27,528 5,110 1,238
Change in plan assets
Beginning fair value of plan assets ........ 64,166 14,986 — — 68,085 15,541 — —
Actual return on plan assets ............. 7,346 1,893 — — 2,107 988 — —
Employer contributions ................. 143 770 354 48 128 886 393 51
Benefits paid ......................... (5,779) (1,699) (376) (50) (5,719) (1,683) (422) (53)
Foreign currency translation adjustments . . . — (1,232) — — — (692) — —
Settlements and other .................. (53) (49) 22 2 (435) (54) 29 2
Ending fair value of plan assets .......... 65,823 14,669 — — 64,166 14,986 — —
Ending funded status ................... $ (10,901) $ (13,228) $ (5,289) $ (1,336) $ (7,314) $ (12,542) $ (5,110) $ (1,238)
Amounts recorded in the consolidated
balance sheets
Non-current assets ..................... $ — $ 111 $ — $ — $ — $ 137 $ — $ —
Current liabilities ..................... (69) (383) (338) (58) (131) (379) (368) (83)
Non-current liabilities .................. (10,832) (12,956) (4,951) (1,278) (7,183) (12,300) (4,742) (1,155)
Net amount recorded ................... $ (10,901) $ (13,228) $ (5,289) $ (1,336) $ (7,314) $ (12,542) $ (5,110) $ (1,238)
Amounts recorded in Accumulated other
comprehensive loss
Net actuarial gain (loss) ................ $ 452 $ (5,019) $ (859) $ (83) $ 4,747 $ (3,379) $ (542) $ 47
Net prior service (cost) credit ............ 35 (57) 16 72 38 (87) 19 91
Total recorded in Accumulated other
comprehensive loss .................. $ 487 $ (5,076) $ (843) $ (11) $ 4,785 $ (3,466) $ (523) $ 138
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