Years Ended March 31, | |||||||
(In millions) | 2013 | 2012 | |||||
Change in benefit obligations | |||||||
Benefit obligation at beginning of period | $ | 670 | $ | 625 | |||
Service cost | 7 | 7 | |||||
Interest cost | 28 | 31 | |||||
Actuarial loss | 73 | 42 | |||||
Benefit payments | (35 | ) | (34 | ) | |||
Foreign exchange impact and other | (7 | ) | (1 | ) | |||
Benefit obligation at end of period (1) | $ | 736 | $ | 670 | |||
Change in plan assets | |||||||
Fair value of plan assets at beginning of period | $ | 410 | $ | 416 | |||
Actual return on plan assets | 31 | 12 | |||||
Employer and participant contributions | 25 | 17 | |||||
Benefits paid | (35 | ) | (34 | ) | |||
Foreign exchange impact and other | (6 | ) | (1 | ) | |||
Fair value of plan assets at end of period | $ | 425 | $ | 410 | |||
Funded status at end of period | $ | (311 | ) | $ | (260 | ) | |
Amounts recognized on the balance sheet | |||||||
Current liabilities | $ | (3 | ) | $ | (13 | ) | |
Long-term liabilities | (308 | ) | (247 | ) | |||
Total | $ | (311 | ) | $ | (260 | ) | |
(1) | The benefit obligation is the projected benefit obligation. |