10-K FY 2022 FINAL MOOG Inc - Flipbook - Page 66
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
2022
2021
2022
2021
$ 704,989
19,827
18,246
—
(198,538)
—
(12,845)
—
—
(733)
$ 530,946
$ 688,689
22,488
17,103
—
(13,815)
—
(8,298)
—
—
(1,178)
$ 704,989
$ 205,093
4,248
2,413
184
(48,255)
(28,435)
(5,136)
—
(2,312)
(61)
$ 127,739
$ 264,419
5,290
2,277
380
2,224
68
(5,271)
(5,690)
(58,604)
—
$ 205,093
$ 640,513
(186,536)
5,324
—
(12,845)
—
—
(733)
$ 445,723
$ (85,223)
$ 615,872
28,718
5,399
—
(8,298)
—
—
(1,178)
$ 640,513
$ (64,476)
$ 127,766
(17,686)
8,210
184
(5,136)
(2,312)
(19,971)
(61)
$ 90,994
$ (36,745)
$ 170,765
11,552
8,119
380
(5,271)
(58,604)
825
—
$ 127,766
$ (77,327)
$
$
40,873
(105,349)
$ (64,476)
$
10,672
(47,417)
(36,745)
$
$
$
724
13,209
13,933
$
$
$
—
(85,223)
(85,223)
—
160,659
$ 160,659
—
158,445
$ 158,445
$
$
$
$
9,266
(86,593)
(77,327)
940
49,196
50,136
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
$611,225 in 2022 and $832,053 in 2021. At the measurement date in 2022, our plans had fair values of plan assets
totaling $536,717. The following table provides aggregate information for the pension plans, which have accumulated
benefit obligations in excess of plan assets:
October 1,
2022
$
130,315
11,231
Accumulated benefit obligation
Fair value of plan assets
66
October 2,
2021
$
223,933
48,884