At December 31,2015, ExxonMobil had 4,156 million shares of outstanding common stock. The closing market price of each share of stock at December 31, 2015, was $77.95.

Present below are excerpts from the 2015 annual report of ExxonMobil Corporation.

The benefit obligations and plan assets associated with the Corporations principal benefit plans are measured on December 31.

	Pension Benefits	Other Postretirement Benefits
	U.S.	Non-U.S.
	2015	2014	2015	2014	2015	2014
			(precent)
Weighted-average assumption used to determine benefits obligations at December 31
Discount rate	4.25	4.00	3.60	3.10	4.25	4.00
Long-term rate of compensation	5.75	5.75	4.80	5.30	5.75	5.75
increase
			(millions of dollars)
Changes in benefits obligation
Benefit obligation at January 1	20,529	17,304	30,047	27,357	9,436	7,868
Service cost	864	677	689	590	170	140
Interest cost	785	807	850	1,138	346	383
Actuarial loss/gain	(545)	3,192	(1,517)	4,929	(617)	1,522
Benefits paid (1) (2)	(2,050)	(1,427)	(1,287)	(1,366	(482)	(525)
Foreign exchange rate changes			(3,242)	(2,540)	(106)	(48)
Amendments, divestments, and other	-	(24)	(423)	(61)	(465)	96
Benefit obligation at December 31	19,583	20,529	25,117	30,047	8,282	9,436
Accumulated benefit obligation at
December 31	15,666	16,385	22,362	26,318

1. Benefit payments for funded and unfunded plans.
2. For 2015 and 2014, other postretirement benefits paid are net of $15 million and $21 million of Medicare subsidy receipts, respectively.

For selection of the discount rate for U.S. plans, several sources of information are considered, including interest rate market indicators and the discount rate determined by use of a yield curve based on high-quality, noncallable bonds with cash flows that match estimated outflows for benefit payments. For major non-U.S. plans, the discount rate is determined by using bond portfolios with an average maturity approximating that of the liabilities or spot yield curves, both of which are constructed using high-quality, local-currency-denominated bonds.

	Pension Benefits	Other Postretirement Benefits
	U.S.	Non-U.S.
	2015	2014	2015	2014	2015	2014
			(millions of dollars)
Change in plan assets
Fair value at January 1	12,915	11,190	20,095	19,283	468	620
Actual return on plan assets	(370)	1,497	918	3,153	-	41
Foreign exchange rate changes			(2,109)	(1,738)	-	-
Company contribution		1,476	515	554	42	31
Benefit paid (1)	(1,632)	(1,248)	(890)	(912)	(96)	(224)
Other			(112)	(245)	-	-
Fair value at December 31	10,985	12,915	18,417	20,095	414	468

1. Benefit payments for funded plans.

At December 31,2014, the following amounts were in accumulated other comprehensive income:

(millions of dollars)	U.S. Pension	Non-U.S. Pension	Other Postretirement Benefits
Net actuarial loss (gain)	$6,589	$9,642	$2,997
Prior service cost	27	429	51
	Pension Benefits	Other Postretirement Benefits
	U.S.	Non-U.S.
	2015	2014	2013	2015	2014	2013	2015	2014	2013
Weighted-average			(percent)
assumptions used to
determine net periodic
benefits cost for years
ended December 31
Discount rate	4.00	5.00	4.00	3.10	4.30	3.80	4.00	5.00	4.00
Long-term rate of return
on funded assets	7.00	7.25	7.25	5.90	6.30	6.40	7.00	7.25	7.25
Long-term rate of
compensation increase	5.75	5.75	5.75	5.30	5.40	5.50	5.75	5.75	5.75
Components of net
periodic benefit cost
Service cost	864	677	801	689	590	697	170	140	176
Interest cost	785	807	749	850	1,138	1,076	346	383	352
Expected return on plan
assets	(830)	(799)	(835)	(1,094)	(1,193)	(1,128)	(28)	(37)	(41)
Amortization of actuarial
loss/(gain)	544	409	646	730	628	852	206	166	228
Amortization of prior
service cost	6	8	7	87	120	117	(24)	14	21
Net pension enhancement
and curtailment/
settlement cost	499	276	723	22	-	22	-	-	-
Net periodic benefit cost	1,868	1,378	2,091	1,284	1,283	1,636	670	616	736

Required:

1. What is the amount of the assets or liabilities recognized on ExxonMobils balance sheet for its U.S. pension benefits at December 31,2015?
2. Compute the December 31, 2015, balance of Accumulated Other Comprehensive Income-Actuarial Losses (Gains) for the U.S. Pension Plans. The amounts are before taxes. Be sure to label your items and show your computations. The Net pension enhancement and curtailment/settlement cost of $499 million in pension expense should be treated in the same way that you treat Amortization of actuarial loss/(gain).
3. Based on information in the pension note, would you expect the 2016 expense for the U.S. pension plans to be higher or lower than its 2015 amount? Explain.
4. Compute the short-term pension risk ratio and the short-term OPEB risk ratio as of December 31, 2015. Consider U.S. and non-U.S. pension plans.
5. Compute the long-term pension risk ratio and the long-term OPEB risk ratio as of December 31,2015. Consider U.S. and non-U.S. pension plans.
6. Based on your answers to requirements 4 and 5, explain whether ExxonMobil has significant pension and OPEB risk.