FY2021 10-K Document - FINAL 11 15 21 - Flipbook - Page 64
Table of Contents
The changes in projected benefit obligations and plan assets and the funded status of the U.S. and non-U.S. defined
benefit plans are as follows:
U.S. Plans
Change in projected benefit obligation:
Projected benefit obligation at prior year measurement date
Service cost
Interest cost
Contributions by plan participants
Actuarial (gains) losses
Foreign currency exchange impact
Benefits paid
Curtailments
Settlements
Other
Projected benefit obligation at measurement date
Change in plan assets:
Fair value of assets at prior year measurement date
Actual return on plan assets
Employer contributions
Contributions by plan participants
Benefits paid
Settlements
Foreign currency exchange impact
Other
Fair value of assets at measurement date
Funded status and amount recognized in assets and liabilities
Amount recognized in assets and liabilities:
Long-term assets
Current and long-term pension liabilities
Amount recognized in assets and liabilities
Amount recognized in AOCIL, before taxes:
Prior service cost (credit)
Actuarial losses
Amount recognized in AOCIL, before taxes
Non-U.S. Plans
2021
2020
2021
2020
$ 688,689
22,488
17,103
—
(13,815)
—
(8,298)
—
—
(1,178)
$ 704,989
$1,065,937
23,033
30,597
—
97,438
—
(40,246)
—
(486,615)
(1,455)
$ 688,689
$ 264,419
5,290
2,277
380
2,224
68
(5,271)
(5,690)
(58,604)
—
$ 205,093
$ 249,575
6,771
2,785
832
(3,572)
16,256
(5,278)
81
(2,999)
(32)
$ 264,419
$ 615,872
28,718
5,399
—
(8,298)
—
—
(1,178)
$ 640,513
$ (64,476)
$1,004,163
134,871
5,154
—
(40,246)
(486,615)
—
(1,455)
$ 615,872
$ (72,817)
$ 170,765
11,552
8,119
380
(5,271)
(58,604)
825
—
$ 127,766
$ (77,327)
$ 166,242
(5,088)
7,017
832
(5,278)
(2,999)
10,071
(32)
$ 170,765
$ (93,654)
$
40,873
(105,349)
$ (64,476)
$
30,887
(103,704)
$ (72,817)
$
9,266
(86,593)
(77,327)
$
$
$
$
940
49,196
50,136
$
—
158,445
$ 158,445
—
184,156
$ 184,156
$
$
$
$
3,862
(97,516)
(93,654)
56
60,721
60,777
Our funding policy is to contribute at least the amount required by law in the respective countries.
The total accumulated benefit obligation as of the measurement date for all defined benefit pension plans was
$832,053 in 2021 and $868,316 in 2020. At the measurement date in 2021, our plans had fair values of plan assets
totaling $768,279. The following table provides aggregate information for the pension plans, which have accumulated
benefit obligations in excess of plan assets:
October 2,
2021
$
223,933
48,884
Accumulated benefit obligation
Fair value of plan assets
64
October 3,
2020
$
277,404
97,872