Target 2014 Annual Report Download - page 61

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retirement and prior to Medicare eligibility, team members also become eligible for certain health care benefits if they
meet minimum age and service requirements and agree to contribute a portion of the cost.
Change in Projected Benefit Obligation Pension Benefits
Qualified Plans Nonqualified Plans
Postretirement
Health Care Benefits
2014 2013
$ 73 $ 121
(millions)
Benefit obligation at beginning of period
2014 2013 2014 2013
$ 3,173 $ 3,164 $ 35 $ 37
Service cost 111 117 1 1 5 6
Interest cost 148 136 1 1 2 2
Actuarial (gain)/loss 556 (125) 9 — (10) (3)
Participant contributions 3 1 — — 4 5
Benefits paid (147) (122) (3) (4) (9) (14)
Plan amendments
Benefit obligation at end of period
—
$ 3,844 $
2
3,173
—
$ 43 $
—
35
(9)
$ 56 $
(44)
73
Change in Plan Assets Pension Benefits
Qualified Plans Nonqualified Plans
Postretirement
Health Care Benefits
(millions) 2014 2013 2014 2013 2014 2013
Fair value of plan assets at beginning of
period $ 3,267 $ 3,223 $ — $ — $ — $ —
Actual return on plan assets 507 161 — — — —
Employer contributions 154 4 3 4 5 9
Participant contributions 3 1 — — 4 5
Benefits paid (147) (122) (3) (4) (9) (14)
Fair value of plan assets at end of
period 3,784 3,267 — — — —
Benefit obligation at end of period 3,844 3,173 43 35 56 73
Funded/(underfunded) status $ (60)$ 94 $ (43) $ (35) $ (56) $ (73)
Recognition of Funded/(Underfunded) Status Qualified Plans Nonqualified Plans (a)
(millions) 2014 2013 2014 2013
Other noncurrent assets $ — $ 112 $ — $ —
Accrued and other current liabilities (1) (2) (8) (9)
Other noncurrent liabilities (59) (16) (91) (99)
Net amounts recognized $ (60) $ 94 $ (99) $ (108)
(a) Includes postretirement health care benefits.
The following table summarizes the amounts recorded in accumulated other comprehensive income, which have not
yet been recognized as a component of net periodic benefit expense:
Amounts in Accumulated Other Comprehensive Income
Pension Plans
Postretirement
Health Care Plans
(millions)
Net actuarial loss
Prior service credits
Amounts in accumulated other comprehensive income
$
$
2014
1,018 $
(69)
949 $
2013
792
(80)
712
$
$
2014
33 $
(55)
(22) $
2013
49
(62)
(13)
56