3M 2005 Annual Report Download - page 85

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59
Following is a reconciliation of the beginning and ending balances of the benefit obligation and the fair value of
plan assets as of December 31:
Qualified and Non-qualified Postretirement
Pension Benefits Benefits
United States International
(Millions) 2005 2004 2005 2004 2005 2004
Reconciliation of projected benefit obligation
Beginning balance $ 8,949 $8,270 $3,896 $3,350 $1,792 $1,712
Acquisitions 53 –13 –––
Service cost 177 164 102 101 53 52
Interest cost 502 483 176 166 101 100
Participant contributions –– 910 35 34
Foreign exchange rate changes ––
(388) 273 25
Plan amendments –3 – (16) (78) –
Actuarial (gain) loss 876 618 363 187 167 74
Benefit payments (512) (613) (137) (118) (154) (185)
Settlements, curtailments, special termination
benefits and other 724 (150) (57) ––
Ending balance $10,052 $8,949 $3,884 $3,896 $1,918 $1,792
Reconciliation of plan assets at fair value
Beginning balance 8,422 7,094 3,305 2,731 1,133 877
Acquisitions 42 –10 –––
Actual return on plan assets 807 1,616 435 230 91 209
Company contributions 526 325 128 271 134 198
Participant contributions –– 911 35 34
Foreign exchange rate changes ––
(324) 237 ––
Benefit payments (512) (613) (147) (118) (154) (185)
Settlements, curtailments, special termination
benefits and other ––
(76) (57) – –
Ending balance $ 9,285 $8,422 $3,340 $3,305 $1,239 $1,133
For the 12 months ended December 31, 2004, U.S. qualified and non-qualified pension benefit payments totaled
$494 million, U.S. Company contributions totaled $320 million, postretirement benefit payments totaled $145
million and postretirement Company contributions totaled $168 million. Due to the U.S. plan measurement date
change in 2004, the 2004 numbers for these items in the table above represent 15 months of activity.