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v2.3.0.11

Employee Benefit Plans (Tables) | 12 Months Ended
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Jun. 30, 2011
Employee Benefit Plans |
Retirement plan expense |
|  | Pension Benefits |  | Postretirement Benefits |
|  | 2011 |  | 2010 |  | 2009 |  | 2011 |  | 2010 |  | 2009 |
|  | (In millions) |  | (In millions) |
Retirement plan expense |  |  |  |  |  |  |  |  |  |  |  |  |
Defined benefit plans: |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost (benefits earned during the period) |  | $ | 71 |  | $ | 58 |  | $ | 52 |  | $ | 8 |  | $ | 9 |  | $ | 7 |
Interest cost |  | 120 |  | 119 |  | 111 |  | 13 |  | 16 |  | 13 |
Expected return on plan assets |  | (132 | ) | (117 | ) | (113 | ) | — |  | — |  | — |
Curtailment/Plan settlements |  | — |  | — |  | — |  | — |  | — |  | (15 | )
Amortization of actuarial loss |  | 59 |  | 31 |  | 2 |  | — |  | 5 |  | 1 |
Other amortization |  | 5 |  | 6 |  | 6 |  | (1 | ) | (1 | ) | (1 | )
Net periodic defined benefit plan expense |  | 123 |  | 97 |  | 58 |  | 20 |  | 29 |  | 5 |
Defined contribution plans |  | 43 |  | 40 |  | 35 |  | — |  | — |  | — |
Total retirement plan expense |  | $ | 166 |  | $ | 137 |  | $ | 93 |  | $ | 20 |  | $ | 29 |  | $ | 5 |
Changes in defined benefit obligation and fair value of defined benefit plan assets |
|  | Pension Benefits |  | Postretirement Benefits |
|  | 2011 |  | 2010 |  | 2011 |  | 2010 |
|  | (In millions) |  | (In millions) |
Benefit obligation, beginning |  | $ | 2,299 |  | $ | 2,012 |  | $ | 224 |  | $ | 256 |
Service cost |  | 71 |  | 58 |  | 8 |  | 9 |
Interest cost |  | 120 |  | 119 |  | 13 |  | 16 |
Actuarial loss (gain) |  | (63 | ) | 271 |  | (32 | ) | (51 | )
Employee contributions |  | 2 |  | 2 |  | — |  | — |
Curtailments |  | — |  | (3 | ) | — |  | — |
Business combinations |  | 36 |  | 2 |  | 22 |  | — |
Benefits paid |  | (90 | ) | (86 | ) | (6 | ) | (6 | )
Plan amendments |  | (9 | ) | — |  | — |  | — |
Foreign currency effects |  | 104 |  | (76 | ) | — |  | — |
Benefit obligation, ending |  | $ | 2,470 |  | $ | 2,299 |  | $ | 229 |  | $ | 224 |
Fair value of plan assets, beginning |  | $ | 1,721 |  | $ | 1,427 |  | $ | — |  | $ | — |
Actual return on plan assets |  | 283 |  | 182 |  | — |  | — |
Employer contributions |  | 116 |  | 249 |  | 6 |  | 6 |
Employee contributions |  | 2 |  | 2 |  | — |  | — |
Business combinations |  | 22 |  | 2 |  | — |  | — |
Benefits paid |  | (90 | ) | (86 | ) | (6 | ) | (6 | )
Foreign currency effects |  | 80 |  | (55 | ) | — |  | — |
Fair value of plan assets, ending |  | $ | 2,134 |  | $ | 1,721 |  | $ | — |  | $ | — |
Funded status |  | $ | (336 | ) | $ | (578 | ) | $ | (229 | ) | $ | (224 | )
Prepaid benefit cost |  | $ | 51 |  | $ | 17 |  | $ | — |  | $ | — |
Accrued benefit liability – current |  | (16 | ) | (13 | ) | (8 | ) | (7 | )
Accrued benefit liability – long-term |  | (371 | ) | (582 | ) | (221 | ) | (217 | )
Net amount recognized in the balance sheet |  | $ | (336 | ) | $ | (578 | ) | $ | (229 | ) | $ | (224 | )
Principal assumptions in developing net periodic pension cost |
|  | Pension Benefits |  | Postretirement Benefits |
|  | 2011 |  | 2010 |  | 2011 |  | 2010 |
Discount rate |  | 5.2 | % | 6.1 | % | 5.4 | % | 6.3 | %
Expected return on plan assets |  | 7.1 | % | 7.1 | % | N/A |  | N/A |
Rate of compensation increase |  | 3.9 | % | 3.8 | % | N/A |  | N/A |
Principal assumptions in developing year-end actuarial present value of the projected benefit obligation |
|  | Pension Benefits |  | Postretirement Benefits |
|  | 2011 |  | 2010 |  | 2011 |  | 2010 |
Discount rate |  | 5.5 | % | 5.2 | % | 5.5 | % | 5.4 | %
Rate of compensation increase |  | 3.9 | % | 3.9 | % | N/A |  | N/A |
Impact of 1% change in assumed health care cost trend rates |
|  | 1% Increase |  | 1% Decrease |
|  | (In millions) |
Effect on combined service and interest cost components |  | $ | 3 |  | $ | (2 | )
Effect on accumulated postretirement benefit obligations |  | $ | 33 |  | $ | (27 | )
Schedule of fair value of plan assets |
|  | Fair Value Measurements at June 30, 2011 |
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total |
|  | (In millions) |
Common stock |  |  |  |  |  |  |  |  |
U.S. companies |  | $ | 180 |  | $ | — |  | $ | — |  | $ | 180 |
International companies |  | 5 |  | — |  | — |  | 5 |
Equity mutual funds |  |  |  |  |  |  |  |  |
Emerging markets |  | 70 |  | — |  | — |  | 70 |
International |  | 99 |  | — |  | — |  | 99 |
Large cap U.S. |  | 378 |  | — |  | — |  | 378 |
Other |  | 1 |  | — |  | — |  | 1 |
Common collective trust funds |  |  |  |  |  |  |  |  |
International equity |  | — |  | 341 |  | — |  | 341 |
Large cap U.S. equity |  | — |  | 24 |  | — |  | 24 |
Fixed income |  | — |  | 444 |  | — |  | 444 |
Other |  | — |  | 60 |  | — |  | 60 |
Debt instruments |  |  |  |  |  |  |  |  |
Corporate bonds |  | — |  | 442 |  | — |  | 442 |
U.S. Treasury instruments |  | 49 |  | — |  | — |  | 49 |
U.S. government agency, state and local government bonds |  | — |  | 35 |  | — |  | 35 |
Other |  | — |  | 6 |  | — |  | 6 |
Total assets at fair value |  | $ | 782 |  | $ | 1,352 |  | $ | — |  | $ | 2,134 |
|  | Fair Value Measurements at June 30, 2010 |
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total |
|  | (In millions) |
Common stock |  |  |  |  |  |  |  |  |
ADM common stock |  | $ | 19 |  | $ | — |  | $ | — |  | $ | 19 |
U.S. companies |  | 64 |  | — |  | — |  | 64 |
International companies |  | 3 |  | — |  | — |  | 3 |
Equity mutual funds |  |  |  |  |  |  |  |  |
Emerging markets |  | 53 |  | — |  | — |  | 53 |
International |  | 70 |  | — |  | — |  | 70 |
Large cap U.S. |  | 230 |  | — |  | — |  | 230 |
Other |  | 1 |  | — |  | — |  | 1 |
Common collective trust funds |  |  |  |  |  |  |  |  |
International equity |  | — |  | 365 |  | — |  | 365 |
Small cap U.S. equity |  | — |  | 76 |  | — |  | 76 |
Large cap U.S. equity |  | — |  | 52 |  | — |  | 52 |
Fixed income |  |  |  | 252 |  | — |  | 252 |
Other |  |  |  | 32 |  | — |  | 32 |
Debt instruments |  |  |  |  |  |  |  |  |
Corporate bonds |  | — |  | 383 |  | — |  | 383 |
U.S. Treasury instruments |  | 84 |  | — |  | — |  | 84 |
U.S. government agency, state and local government bonds |  | — |  | 16 |  | — |  | 16 |
Other |  | — |  | 21 |  | — |  | 21 |
Total assets at fair value |  | $ | 524 |  | $ | 1,197 |  | $ | — |  | $ | 1,721 |
Actual asset allocation for global pension plan assets |
|  | 2011(1), (2) |  | 2010 |
Equity securities |  | 52 | % | 48 | %
Debt securities |  | 47 | % | 50 | %
Other |  | 1 | % | 2 | %
Total |  | 100 | % | 100 | %
Expected future benefit payments to be paid |
|  | Pension Benefits |  | Postretirement Benefits |
|  | (In millions) |
2012 |  | $ | 102 |  | $ | 8 |
2013 |  | 106 |  | 9 |
2014 |  | 111 |  | 10 |
2015 |  | 116 |  | 10 |
2016 |  | 123 |  | 11 |
2017 – 2021 |  | 719 |  | 72 |

X
- Definition This element may be used to capture the changes in the benefit obligation and fair value of plan assets. It also discloses the funded status of the plan and the current and non current portions of the pension liability in the statement of financial position. + Details
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- Definition Disclosure of the major categories of plan assets of pension plan and /or other employee benefit plans. This information includes the target allocation of plan assets. + Details
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- Definition Disclosure of the assumptions used to determine pension plans and/or other employee benefit plans, the benefit obligation, including assumed discount rates, rate increase in compensation, and expected long-term rates of return on plan assets. + Details
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- Definition Disclosure of the assumptions used to determine pension plans and/or other employee benefit plans, the net periodic benefit cost, including assumed discount rates, rate increase in compensation, and expected long-term rates of return on plan assets. + Details
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- Definition Disclosure of the major categories of plan assets of pension plans, including the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + Details
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- Definition Disclosure of the components of net benefit costs for pension plans including service cost, interest cost, expected return on plan assets, gain or loss, prior service cost or credit, transition asset or obligation, and gain or loss recognized due to settlements or curtailments. It also discloses the components of the defined contribution plans. + Details
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- Definition Tabular disclosure of the effect of a one-percentage-point increase and the effect of a one-percentage-point decrease in the assumed health care cost trend rates on the aggregate of the service and interest cost components of net periodic postretirement health care benefit costs and the accumulated postretirement benefit obligation for health care benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e1928-114920 -Subparagraph (m) + Details
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- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 715 -SubTopic 20 -Publisher FASB -Number -Article -Subparagraph (f) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e1928-114920 + Details
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