HP 2010 Annual Report Download - page 144
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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 16: Retirement and Post-Retirement Benefit Plans (Continued)
Defined benefit plans with projected benefit obligations exceeding the fair value of plan assets
were as follows:
Non-U.S.
U.S. Defined Defined
Benefit Plans Benefit Plans
2010 2009 2010 2009
In millions
Aggregate fair value of plan assets ...................... $ 9,427 $3,516 $11,907 $ 9,247
Aggregate projected benefit obligation ................... $10,902 $6,144 $15,331 $12,167
Defined benefit plans with accumulated benefit obligations exceeding the fair value of plan assets
were as follows:
Non-U.S.
U.S. Defined Defined
Benefit Plans Benefit Plans
2010 2009 2010 2009
In millions
Aggregate fair value of plan assets ....................... $ 9,427 $3,515 $10,529 $7,040
Aggregate accumulated benefit obligation ................. $10,900 $6,141 $13,140 $9,263
Fair Value Considerations
The table below sets forth the fair value of our plan assets as of October 31, 2010 by asset
category, using the same three-level hierarchy of fair-value inputs described in Note 9.
U.S. Defined Benefit Plans Non-U.S. Defined Benefit Plans Post-Retirement Benefit Plans
Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total
In millions
Asset Category:
Equity securities
U.S. .................. $1,460 $ 4 $ — $1,464 $1,028 $ 195 $ 64 $ 1,287 $ 68 $ — $ — $ 68
Non-U.S. ............... 1,193 — — 1,193 5,265 652 — 5,917 40 — — 40
Debt securities
Corporate ............... — 2,931 — 2,931 2,031 887 6 2,924 — 57 — 57
Government(1) ............ 1,314 992 — 2,306 626 376 — 1,002 14 30 — 44
Alternative Investments
Private Equities(2) .......... 2 — 1,034 1,036 — — 14 14 — — 154 154
Hybrids ................ — — 6 6 3 18 — 21 — — 1 1
Hedge Funds ............. — — — — 102 7 231 340 — — — —
Real Estate Funds ........... — — — — 363 171 225 759 — — — —
Insurance Group Annuity Contracts . — — — — 17 54 74 145 — — — —
Cash and Cash Equivalents(3) .... 7 484 — 491 305 27 — 332 5 5 — 10
Other(4) .................. — — — — 7 10 2 19 — — — —
Total ................... $3,976 $4,411 $1,040 $9,427 $9,747 $2,397 $616 $12,760 $127 $92 $155 $374
(1) Includes debt issued by national, state and local governments and agencies.
(2) Includes limited partnerships and venture capital partnerships.
(3) Includes cash and cash equivalents such as short-term marketable securities.
(4) Includes international insured contracts and unsettled transactions.
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