Motorola 8167 - Timeport Cell Phone Benutzerhandbuch - Seite 34
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Notes to Consolidated Financial Statements
(In millions,
except
as noted)
Motorola Inc. and Consolidated Subsidiaries
Employee
Benefit
and Incentive
Man*
Retirement Benefits: The Company and certain subsid-
iaries have profit-sharing plans, principally contributory,
in which all eligible employees participate. The Company
makes contributions to profit-sharing funds in the United
States and other nations, which are generally based upon
percentages of pretax earnings, as defined, from those
operations.
Company contributions to all profit-sharing plans
totalled $51 million, $48 million and $44 million in 1990, •
1989 and 1988, respectively.
The Company's noncontributory pension plan covers
most domestic employees after one year of service. The
benefit formula is dependent upon employee earnings and
years of service. The Company's policy is to fund the
accrued pension cost or the amount allowable based on
the full funding limitations of the Internal Revenue
Service, if less.
The Company has a noncontributory pension plan for
its elected officers. The plan contains provisions for fund-
ing the participants' expected retirement benefits when
the participants meet the minimum age and years of
service requirements.
Benefits under all pension plans are valued based upon
the projected unit credit cost method. The assumptions
used to develop the projected benefit obligations for the
plans for 1990 and 1989 were as follows:
Discount rate for obligations
9%
Future compensation increase rate
5.5%
Investment return assumption
9.25%
Components of net U.S. pension expense for the regular
pension plan
1990
1989
1988
Service costs
Interest cost on projected
obligation
Actual return on plan assets
Net amortization and deferral
Net pension expense
8 63
34
(11)
. («)
8 39
$ 57
26
(103)
51
$ 31
$50
20
(45)
(4)
$21
The net U.S. expense for the elected officers pension
plan was $14 million in 1990 and 1989 and $9 million
in 1988.
US. Funded Plans at December 31
1990
1989
Elected
Elected
Regular
Officere
Regular
Officers
Actuarial present value of:
Vested benefit obligation
Accumulated benefit obligation
Projected benefit obligation for service rendered to date
Plan assets at fair value, primarily listed stocks, bonds and cash equivalents
Plan assets in excess of (less than) projected benefit obligation
Unrecognized net (gain) loss from past experience different from assumptions
Unrecognized prior service cost
Unrecognized net transition (asset) liability
Pension asset (liability) recognized in balance sheet
8(341)
8(26)
$(242)
$(27)
(365)
(476)
575
99
(88)
1
(91)
(40)
(54)
34
(20)
11
32
11
(271)
(373)
575
202
(140)
2
(103)
(39)
(53)
29
(24)
13
* 36
12
8 (79)
834
(39)
;37
The Company uses a five-year market-related asset
value method of amortizing actuarial gains and losses.
Net transition amounts and prior service costs are
being amortized over periods ranging from 10 to 15 years.
Certain foreign subsidiaries have varying types of
retirement plans providing benefits for substantially all of
their employees. Amounts charged to earnings for all
foreign plans were $25 million in 1990, $15 million in
1989 and $12 million in 1988.
In addition to providing pension benefits, the Company
provides certain health care benefits to its retired em-
ployees. The majority of its domestic employees may
become eligible for these benefits if they reach normal
retirement age while working for the Company. The cost
of retiree health care benefits is recognized as expense
when claims are paid and totalled $5 million in 1990 and
$4 million in 1989 and 1988. There are no significant post-
retirement health care benefit plans in foreign countries.
32