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Ford Motor Company | 2012 Annual Report 107
FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 16. RETIREMENT BENEFITS (Continued)
The year-end status of these plans was as follows (dollar amounts in millions):
Pension Benefits
U.S. Plans Non-U.S. Plans Worldwide OPEB
2012 2011 2012 2011 2012 2011
Change in Benefit Obligation
Benefit obligation at January 1 $ 48,816 $46,647 $25,163 $23,385 $6,593 $ 6,423
Service cost 521 467 372 327 67 63
Interest cost 2,208 2,374 1,189 1,227 290 327
Amendments (39) 5 222 38 (156)(62)
Separation programs and other (40)(52)202 196 3 10
Curtailments — — — — — (50)
Settlements (1,123) — — (152) — —
Plan participant contributions 27 23 36 46 29 29
Benefits paid (3,427) (3,534) (1,420) (1,373) (454) (473)
Foreign exchange translation — — 803 (441) 47 (62)
Divestiture — — — — — —
Actuarial (gain)/loss 5,182 2,886 4,135 1,910 391 388
Benefit obligation at December 31 $ 52,125 $48,816 $30,702 $25,163 $6,810 $ 6,593
Change in Plan Assets
Fair value of plan assets at January 1 $ 39,414 $39,960 $19,198 $18,615 $ — $ —
Actual return on plan assets 5,455 2,887 1,637 934 — —
Company contributions 2,134 132 1,629 1,403 — —
Plan participant contributions 27 23 36 46 — —
Benefits paid (3,427) (3,534) (1,420) (1,373) — —
Settlements (1,123) — — (152) — —
Foreign exchange translation — — 641 (267) — —
Divestiture — — — — — —
Other (85)(54) (8) (8) — —
Fair value of plan assets at December 31 $ 42,395 $39,414 $21,713 $19,198 $ — $ —
Funded status at December 31 $ (9,730) $ (9,402) $ (8,989) $ (5,965) $ (6,810) $ (6,593)
Amounts Recognized on the Balance Sheet
Prepaid assets $ — $ — $ 85 $ 114 $ — $ —
Accrued liabilities (9,730) (9,402) (9,074) (6,079) (6,810)(6,593)
Total $ (9,730) $ (9,402) $ (8,989) $ (5,965) $ (6,810) $ (6,593)
Amounts Recognized in Accumulated Other
Comprehensive Loss (pre-tax)
Unamortized prior service costs/(credits) $ 938 $1,197 $487 $323 $(1,263) $ (1,648)
Unamortized net (gains)/losses 11,349 9,394 11,375 7,612 2,594 2,305
Total $ 12,287 $10,591 $11,862 $7,935 $1,331 $657
Pension Plans in which Accumulated Benefit
Obligation Exceeds Plan Assets at December 31
Accumulated benefit obligation $ 50,821 $47,555 $21,653 $18,138
Fair value of plan assets 42,395 39,414 14,625 13,207
Accumulated Benefit Obligation at December 31 $50,821 $47,555 $28,136 $23,524
Pension Plans in which Projected Benefit Obligation
Exceeds Plan Assets at December 31
Projected benefit obligation $ 52,125 $48,816 $29,984 $24,184
Fair value of plan assets 42,395 39,414 20,910 18,105
Projected Benefit Obligation at December 31 $52,125 $48,816 $30,702 $25,163
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