FMC CORP | 2013 | FY | 3

The following table summarizes the weighted-average assumptions used and components of our defined benefit postretirement plans. The following tables also reflect a measurement date of December 31:
 
 
Pensions
 
Other Benefits (1)
 
December 31,
(in Millions, except for percentages)
2013
 
2012
 
2013
 
2012
Following are the weighted average assumptions used to determine the benefit obligations at December 31:
 
 
 
 
 
 
 
Discount rate
4.95
%
 
4.15
%
 
4.95
%
 
4.15
%
Rate of compensation increase
3.40
%
 
3.40
%
 
—
%
 
—
%
Accumulated benefit obligation:
 
 
 
 
 
 
 
Plans with unfunded accumulated benefit obligation
$
1,255.3

 
$
1,367.3

 
$
—

 
$
—

Change in projected benefit obligation
 
 
 
 
 
 
 
Projected benefit obligation at January 1
$
1,428.1

 
$
1,268.3

 
$
29.2

 
$
28.4

Service cost
22.0

 
20.2

 
0.1

 
0.1

Interest cost
57.7

 
61.3

 
1.0

 
1.4

Actuarial loss (gain)
(103.6
)
 
140.7

 
(4.2
)
 
3.0

Amendments
0.7

 
—

 
—

 
—

Foreign currency exchange rate changes
0.6

 
3.4

 
0.1

 
(0.1
)
Plan participants’ contributions
—

 
0.2

 
6.2

 
6.1

Settlements
(16.1
)
 
—

 
—

 
—

Curtailments
—

 
(3.0
)
 
—

 
—

Benefits paid
(74.2
)
 
(63.0
)
 
(8.9
)
 
(9.7
)
Projected benefit obligation at December 31
1,315.2

 
1,428.1

 
23.5

 
29.2

Change in fair value of plan assets:
 
 
 
 
 
 
 
Fair value of plan assets at January 1
1,060.2

 
918.8

 
—

 
—

Actual return on plan assets
250.9

 
127.2

 
—

 
—

Foreign currency exchange rate changes
0.7

 
3.1

 
—

 
—

Company contributions
63.9

 
73.9

 
2.7

 
3.6

Plan participants’ contributions
—

 
0.2

 
6.2

 
6.1

Settlements
(16.1
)
 
—

 
—

 
—

Benefits paid
(74.2
)
 
(63.0
)
 
(8.9
)
 
(9.7
)
Fair value of plan assets at December 31
1,285.4

 
1,060.2

 
—

 
—

Net funded status of the plan (liability)
$
(29.8
)
 
$
(367.9
)
 
$
(23.5
)
 
$
(29.2
)
Amount recognized in the consolidated balance sheets:
 
 
 
 
 
 
 
Pension other asset (2)
$
17.2

 
$
—

 
$
—

 
$
—

Accrued benefit liability
(47.0
)
 
(367.9
)
 
(23.5
)
 
(29.2
)
Total
$
(29.8
)
 
$
(367.9
)
 
$
(23.5
)
 
$
(29.2
)
____________________
(1)
Refer to Note 9 for information on our discontinued postretirement benefit plans.
(2)
Included in “Other assets” on the consolidated balance sheets.



 
Pensions
 
Other Benefits (1)
 
December 31,
(in Millions)
2013
 
2012
 
2013
 
2012
The amounts in accumulated other comprehensive income (loss) that have not yet been recognized as components of net periodic benefit cost are as follows:
 
 
 
 
 
 
 
Prior service (cost) credit
$
(6.3
)
 
$
(7.7
)
 
$
—

 
$
—

Net actuarial (loss) gain
(281.7
)
 
(620.3
)
 
13.0

 
10.7

Accumulated other comprehensive income (loss) – pretax
(288.0
)
 
(628.0
)
 
13.0

 
10.7

Accumulated other comprehensive income (loss) – net of tax
$
(182.5
)
 
$
(394.2
)
 
$
8.1

 
$
6.7

____________________
(1)
Refer to Note 9 for information on our discontinued postretirement benefit plans.

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