HP 2012 Annual Report Download - page 148

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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 16: Retirement and Post-Retirement Benefit Plans (Continued)
Funded Status
The funded status of the defined benefit and post-retirement benefit plans was as follows for the
following fiscal years ended October 31:
U.S. Defined Non-U.S. Defined Post-Retirement
Benefit Plans Benefit Plans Benefit Plans
2012 2011 2012 2011 2012 2011
In millions
Change in fair value of plan assets:
Fair value—beginning of year ................ $10,662 $ 9,427 $13,180 $12,760 $ 394 $ 374
Acquisition/addition of plans ................. — — 8 51 — —
Actual return on plan assets ................. 1,411 1,389 1,327 20 36 56
Employer contributions ..................... 50 279 582 458 31 24
Participants’ contributions ................... — — 57 65 59 55
Benefits paid ............................ (556) (424) (462) (450) (125) (115)
Settlements ............................. (31) (9) (193) (49) — —
Currency impact ......................... — — (478) 325 — —
Fair value—end of year ..................... 11,536 10,662 14,021 13,180 395 394
Change in benefit obligation:
Projected benefit obligation—beginning of year .... $11,945 $10,902 $16,328 $16,089 $ 816 $ 845
Acquisition/addition of plans ................. — — 25 36 — 9
Service cost ............................. 1 1 294 343 7 9
Interest cost ............................ 566 594 690 694 35 35
Participants’ contributions ................... — — 57 65 59 55
Actuarial loss (gain) ....................... 1,479 881 2,143 (632) 34 (23)
Benefits paid ............................ (556) (424) (462) (450) (125) (115)
Plan amendments ......................... — — (67) (154) — —
Curtailment ............................. — — 5 — 5 —
Settlement ............................. (31) (9) (395) (50) — —
Special termination benefits .................. 833 — 17 16 227 —
Currency impact ......................... — — (538) 371 (2) 1
Projected benefit obligation—end of year .......... 14,237 11,945 18,097 16,328 1,056 816
Plan assets less than benefit obligation ............ (2,701) (1,283) (4,076) (3,148) (661) (422)
Net amount recognized ...................... $(2,701) $(1,283) $(4,076) $ (3,148) $ (661) $(422)
Accumulated benefit obligation ................. $14,236 $11,943 $17,070 $15,413
The net amounts recognized for HP’s defined benefit and post-retirement benefit plans in HP’s
Consolidated Balance Sheets as of October 31, 2012 and October 31, 2011 were as follows:
U.S. Defined Non-U.S. Defined Post-Retirement
Benefit Plans Benefit Plans Benefit Plans
2012 2011 2012 2011 2012 2011
In millions
Non-current assets ..................... $ — $ — $ 260 $ 418 $ — $ —
Current liability ....................... (33) (32) (39) (43) (124) (30)
Non-current liability .................... (2,668) (1,251) (4,297) (3,523) (537) (392)
Net amount recognized .................. $(2,701) $(1,283) $(4,076) $(3,148) $(661) $(422)
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