FINANCIAL STATEMENTS
Plans outside of the
Change in United States plans United States
(in millions of assumption Increase Decrease Increase Decrease
Discount rate
0.50%
(6)
7
(9)
10
Rate of compensation increase
0.50%
10
(9)
Mortality rate improvement
1 year
2
1
Interest crediting rate (only applicable for the Hannaford
Cash Balance Plan)
0.25%
5
(4)
2014
2013
2012
(in millions of
United
States
Plans
Plans
Outside
of the
United
States
Total
United
States
Plans
Plans
Outside
of the
United
States
Total
United
States
Plans
Plans
Outside
of the
United
States
Total
Components of defined benefit cost:
Components of defined benefit cost
recognized in the income statement:
Current service cost
1
4
5
1
5
6
2
5
7
Past service cost
(1)
(1)
Interest expense
8
4
12
7
3
10
8
5
13
Interest income
(5)
(2)
(7)
(4)
(1)
(5)
(5)
(3)
(8)
Administrative expenses and taxes
2
2
1
1
(Gain) loss on settlement
1
1
1
1
1
1
Components of defined benefit cost
recognized in the income statement
6
7
13
4
7
11
5
9
14
Components of defined benefit cost
recognized in OCI:
Remeasurements of defined benefit
obligation
Effect of changes in demographic
assumptions
3
3
6
6
Effect of changes in financial
assumptions
2
26
28
(4)
(12)
(16)
(3)
20
17
Effect of experience adjustment
(9)
(9)
3
(8)
(5)
(2)
4
2
Remeasurement of plan assets
Return on plan asset
3
(12)
(9)
6
4
10
(4)
(5)
(9)
Components of defined benefit cost
recognized in OCI
8
5
13
5
(16)
(11)
(9)
25
16
Total components of defined benefit cost
14
12
26
9
(9)
(4)
34
30
The plan assets of the Group's defined benefit pension plan in Belgium is funded through a group insurance program and are
part of the insurance company's overall investments, benefiting from a guaranteed minimum return. The insurance company's
asset allocation was as follows:
December 31,
2014
2013
2012
Equities (all instruments have quoted price in active market)
5%
6%
5%
Debt (all instruments have quoted price in active market)
90%
92%
91%
Other assets (e.g., cash and cash equivalents)
5%
2%
4%
In 2015, the Group expects to contribute approximately €3 million to the defined benefit pension plan in Belgium.
The weighted average duration of the plans outside the United States is 12.7 years (11.0 years in 2013 and 11.9 years in 2012).
The expected timing of the benefit payments for these plans is as follows:
Within the
(in millions of next year In 2 years In 3 years In 4 years In 5 years Thereafter Total
As of December 31, 2014 9 4 4 7 7 226 257
