CBRE GROUP, INC. | 2013 | FY | 3


The following table sets forth a reconciliation of the benefit obligation, plan assets, plan’s funded status and amounts recognized in the accompanying consolidated balance sheets for both of our defined benefit pension plans (dollars in thousands):

 

     Year Ended December 31,  
     2013     2012  

Change in benefit obligation

    

Benefit obligation at beginning of period

   $ 352,242      $ 316,165   

Interest cost

     15,414        15,513   

Actuarial loss

     31,420        14,447   

Benefits paid

     (8,374     (8,768

Foreign currency translation

     9,513        14,885   
  

 

 

   

 

 

 

Benefit obligation at end of period

   $ 400,215      $ 352,242   
  

 

 

   

 

 

 

Change in plan assets

    

Fair value of plan asset at beginning of period

   $ 288,714      $ 255,305   

Actuarial return on plan assets

     38,328        24,175   

Company contributions

     5,508        5,886   

Benefits paid

     (8,374     (8,768

Foreign currency translation

     8,027        12,116   
  

 

 

   

 

 

 

Fair value of plan assets at end of period

   $ 332,203      $ 288,714   
  

 

 

   

 

 

 

Funded status

   $ (68,012   $ (63,528
  

 

 

   

 

 

 

Amounts recognized in the statement of financial position consist of:

    

Non-current liabilities

   $ (68,012   $ (63,528
  

 

 

   

 

 

 

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