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Analyzing and Interpreting Pension Disclosures General Mills, Inc. reports the following pension footnote in its 10-K report. Defined Benefit Pension Plan ($ millions) 2013 2012
Analyzing and Interpreting Pension Disclosures General Mills, Inc. reports the following pension footnote in its 10-K report.
Defined Benefit Pension Plan ($ millions) | 2013 | 2012 |
---|---|---|
Change in Plan Assets | ||
Fair value at beginning of year | $ 4,353.9 | $ 4,264.0 |
Actual return on assets | 698.7 | 56.3 |
Employer contributions | 223.1 | 222.1 |
Plan participant contributions | 15.2 | 20.3 |
Benefit payments | (222.6) | (203.3) |
Foreign currency | (2.2) | (5.5) |
Fair value at end of year | $ 5,066.1 | $ 4,353.9 |
Change in Projected Benefit Obligation | ||
Benefit obligation at beginning of year | $ 4,991.5 | $ 4,458.4 |
Service cost | 124.4 | 114.3 |
Interest cost | 237.3 | 237.9 |
Plan amendment | 0.2 | (13.4) |
Curtailment/other | -- | (27.1) |
Plan participant contributions | 15.2 | 20.3 |
Medicare Part D reimbursements | -- | -- |
Actuarial loss (gain) | 237.5 | 405.7 |
Benefits payments | (222.8) | (203.5) |
Foreign currency | (1.9) | (5.9) |
Acquisitions | -- | 4.8 |
Projected benefit obligation at end of year | $ 5,381.4 | $ 4,991.5 |
Estimated benefit payments . . . are expected to be paid from fiscal 2014
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