HERSHEY CO | 2013 | FY | 3


A summary of the changes in benefit obligations and plan assets is as follows:
 
 
Pension Benefits 
 
Other Benefits 
December 31,
 
2013
 
2012
 
2013
 
2012
In thousands of dollars
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Change in benefit obligation
 
 
 
 
 
 
 
 
Projected benefits obligation at beginning of year
 
$
1,237,778

 
$
1,156,756

 
$
318,415

 
$
318,536

Service cost
 
31,339

 
30,823

 
1,094

 
1,172

Interest cost
 
43,962

 
49,909

 
10,747

 
13,258

Plan amendments
 
55

 
2

 

 

Actuarial (gain) loss
 
(100,872
)
 
112,700

 
(33,412
)
 
7,916

Curtailment
 
(8,833
)
 

 

 

Settlement
 
(319
)
 
(49,876
)
 

 

Currency translation and other
 
(5,976
)
 
1,903

 
(1,030
)
 
370

Benefits paid
 
(76,642
)
 
(64,439
)
 
(24,877
)
 
(22,837
)
 
 
 
 
 
 
 
 
 
Projected benefits obligation at end of year
 
1,120,492

 
1,237,778

 
270,937

 
318,415

 
 
 
 
 
 
 
 
 
Change in plan assets
 
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
 
988,167

 
961,421

 

 

Actual return on plan assets
 
152,976

 
118,073

 

 

Employer contribution
 
32,336

 
21,371

 
24,877

 
22,837

Settlement
 
(319
)
 
(49,876
)
 

 

Currency translation and other
 
(4,533
)
 
1,617

 

 

Benefits paid
 
(76,642
)
 
(64,439
)
 
(24,877
)
 
(22,837
)
 
 
 
 
 
 
 
 
 
Fair value of plan assets at end of year
 
1,091,985

 
988,167

 

 

 
 
 
 
 
 
 
 
 
Funded status at end of year
 
$
(28,507
)
 
$
(249,611
)
 
$
(270,937
)
 
$
(318,415
)

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