Curtailments

FORD MOTOR COMPANY AND SUBSIDIARIESNOTES TO THE FINANCIAL STATEMENTSNOTE 17.  RETIREMENT BENEFITS (Continued)  
The year-end status of these plans was as follows (in millions):

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   |  | Pension Benefits |  |   |  |   |
|   |  | U.S. Plans |  | Non-U.S. Plans |  | Worldwide OPEB |
|   |  | 2020 |  | 2021 |  | 2020 |  | 2021 |  | 2020 |  | 2021 |
| Change in Benefit Obligation |  |   |  |   |  |   |  |   |  |   |  |   |
| Benefit obligation at January 1 |  | $ | 45,672  |  |  | $ | 49,020  |  |  | $ | 35,373  |  |  | $ | 39,835  |  |  | $ | 6,072  |  |  | $ | 6,575  |  |
| Service cost |  | 520  |  |  | 526  |  |  | 529  |  |  | 557  |  |  | 47  |  |  | 49  |  |
| Interest cost |  | 1,291  |  |  | 928  |  |  | 514  |  |  | 420  |  |  | 169  |  |  | 127  |  |
| Amendments |  | —  |  |  | —  |  |  | —  |  |  | 4  |  |  | 21  |  |  | —  |  |
| Separation programs/other |  | (10) |  |  | (25) |  |  | 219  |  |  | 185  |  |  | —  |  |  | —  |  |
| Curtailments |  | —  |  |  | —  |  |  | —  |  |  | (4) |  |  | —  |  |  | —  |  |
| Settlements |  | (25) |  |  | (1,297) |  |  | (189) |  |  | —  |  |  | —  |  |  | —  |  |
| Plan participant contributions |  | 23  |  |  | 20  |  |  | 14  |  |  | 13  |  |  | 21  |  |  | 21  |  |
| Benefits paid |  | (3,055) |  |  | (2,522) |  |  | (1,394) |  |  | (1,565) |  |  | (339) |  |  | (356) |  |
| Foreign exchange translation |  | —  |  |  | —  |  |  | 1,131  |  |  | (1,432) |  |  | 28  |  |  | —  |  |
| Actuarial (gain)/loss |  | 4,604  |  |  | (1,762) |  |  | 3,638  |  |  | (3,581) |  |  | 556  |  |  | (376) |  |
| Benefit obligation at December 31 |  | 49,020  |  |  | 44,888  |  |  | 39,835  |  |  | 34,432  |  |  | 6,575  |  |  | 6,040  |  |
| Change in Plan Assets |  |   |  |   |  |   |  |   |  |   |  |   |
| Fair value of plan assets at January 1 |  | 44,253  |  |  | 48,355  |  |  | 29,958  |  |  | 33,820  |  |  | —  |  |  | —  |  |
| Actual return on plan assets |  | 7,018  |  |  | 1,150  |  |  | 4,149  |  |  | 788  |  |  | —  |  |  | —  |  |
| Company contributions |  | 186  |  |  | 247  |  |  | 744  |  |  | 912  |  |  | —  |  |  | —  |  |
| Plan participant contributions |  | 23  |  |  | 20  |  |  | 14  |  |  | 13  |  |  | —  |  |  | —  |  |
| Benefits paid |  | (3,055) |  |  | (2,522) |  |  | (1,394) |  |  | (1,565) |  |  | —  |  |  | —  |  |
| Settlements |  | (25) |  |  | (1,297) |  |  | (189) |  |  | —  |  |  | —  |  |  | —  |  |
| Foreign exchange translation |  | —  |  |  | —  |  |  | 547  |  |  | (855) |  |  | —  |  |  | —  |  |
| Other |  | (45) |  |  | (44) |  |  | (9) |  |  | (28) |  |  | —  |  |  | —  |  |
| Fair value of plan assets at December 31 |  | 48,355  |  |  | 45,909  |  |  | 33,820  |  |  | 33,085  |  |  | —  |  |  | —  |  |
| Funded status at December 31 |  | $ | (665) |  |  | $ | 1,021  |  |  | $ | (6,015) |  |  | $ | (1,347) |  |  | $ | (6,575) |  |  | $ | (6,040) |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |
| Amounts Recognized on the Balance Sheets |  |   |  |   |  |   |  |   |  |   |  |   |
| Prepaid assets |  | $ | 1,578  |  |  | $ | 3,130  |  |  | $ | 2,673  |  |  | $ | 5,404  |  |  | $ | —  |  |  | $ | —  |  |
| Other liabilities |  | (2,243) |  |  | (2,109) |  |  | (8,688) |  |  | (6,751) |  |  | (6,575) |  |  | (6,040) |  |
| Total |  | $ | (665) |  |  | $ | 1,021  |  |  | $ | (6,015) |  |  | $ | (1,347) |  |  | $ | (6,575) |  |  | $ | (6,040) |  |
| Amounts Recognized in Accumulated Other Comprehensive Loss (pre-tax) |  |   |  |   |  |   |  |   |  |   |  |   |
| Unamortized prior service costs/(credits) |  | $ | 4  |  |  | $ | 2  |  |  | $ | 206  |  |  | $ | 170  |  |  | $ | (11) |  |  | $ | 22  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pension Plans in which Accumulated Benefit Obligation Exceeds Plan Assets at December 31 |  |   |  |   |  |   |  |   |  |   |  |   |
| Accumulated benefit obligation |  | $ | 2,295  |  |  | $ | 2,192  |  |  | $ | 14,595  |  |  | $ | 12,586  |  |  |   |  |   |
| Fair value of plan assets |  | 145  |  |  | 140  |  |  | 7,203  |  |  | 6,835  |  |  |   |  |   |
|  |  |  |  |  |  |  |  |  |  |  |  |  |
| Accumulated Benefit Obligation at December 31 |  | $ | 47,848  |  |  | $ | 43,879  |  |  | $ | 36,272  |  |  | $ | 31,850  |  |  |   |  |   |
|  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pension Plans in which Projected Benefit Obligation Exceeds Plan Assets at December 31 |  |  |  |  |  |  |  |  |  |  |  |  |
| Projected benefit obligation |  | $ | 2,389  |  |  | $ | 2,249  |  |  | $ | 15,951  |  |  | $ | 13,651  |  |  |  |  |  |
| Fair value of plan assets |  | 145  |  |  | 140  |  |  | 7,264  |  |  | 6,900  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |
| Projected Benefit Obligation at December 31 |  | $ | 49,020  |  |  | $ | 44,888  |  |  | $ | 39,835  |  |  | $ | 34,432  |  |  |  |  |  |

  
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