PART II  NOTE 13 Pensions and Other Postretirement Benefi ts NOTE 13 Pensions and Other Postretirement Benefi ts We are required to recognize in our consolidated balance sheets the  overfunded and underfunded status of our defi ned benefi t postretirement  plans. The overfunded or underfunded status is defined as the diff erence  between the fair value of plan assets and the projected benefi t obligation.  We are also required to recognize as a component of other comprehensive  income the actuarial gains and losses and the prior service costs and  credits that arise during the period. The funded status of our U.S. qualified and nonqualifi ed defi ned benefi t  pension plans, our United Kingdom, Ireland and Norway defi ned  benefi t pension plans, plus our U.S. other postretirement healthcare  and life insurance benefi t plans for continuing operations, together  with the associated balances and net periodic benefi t cost recognized  in our consolidated financial statements as of December 31, are shown  in the tables below. The following table summarizes the weighted-average assumptions used and components of our defi ned benefit postretirement plans. Th  e following  tables also reflect a measurement date of December 31: 56 FMC CORPORATION    2010 Form 10K (in Millions) December 31, Pensions Other Benefi ts  (1) 2010 2009 2010 2009 Following are the weighted average assumptions used  to determine the benefit obligations at December 31: Discount Rate 5.40% 5.90% 5.40% 5.90% Rate of compensation increase 4.20% 4.20% — — Accumulated benefi t obligation: Plans with unfunded accumulated benefit obligation $1,106.5 $1,046.7 $ — $ — Change in projected benefi t obligation Projected benefit obligation at January 1 $1,098.6 $944.0 $42.3 $40.0 Service cost 18.2 16.7 0.2 0.2 Interest cost 63.2 64.2 2.5 2.6 Actuarial loss (gain) 66.5 128.7 2.9 4.1 Amendments 5.7 0.7 — — Foreign currency exchange rate changes (3.9) 7.0 — — Plan participants’ contributions 0.2 0.2 6.4 5.5 Settlements (15.6) (3.0) — — Other — — 0.1 — Curtailments (0.5) (1.7) — — Benefi ts paid (56.9) (58.2) (9.0) (10.1) Projected benefit obligation at December 31 1,175.5 1,098.6 45.4 42.3 Change in fair value of plan assets: Fair value of plan assets at January 1 766.7 607.9 — — Actual return on plan assets 111.7 124.8 — — Foreign currency exchange rate changes (2.9) 5.7 — — Company contributions 102.6 88.8 2.6 4.6 Plan participants’ contributions 0.2 0.2 6.4 5.5 Settlements (15.6) (2.5) — — Benefi ts paid (56.9) (58.2) (9.0) (10.1) Fair value of plan assets at December 31 905.8 766.7 — — Funded status of the plan (liability) $(269.7) $(331.9) $(45.4) $(42.3) Amount recognized in the consolidated balance sheets: Pension other asset $1.9 $ — $ — $ — Accrued benefi t liability (271.6) (331.9) (45.4) (42.3) TOTAL $(269.7) $(331.9) $(45.4) $(42.3) The amounts in accumulated other comprehensive income (loss)  that has not yet been recognized as components of net periodic  benefit cost at December 31, 2010 and 2009 are as follows: Net transition asset $0.1 $0.1 $ — $ — Prior service (cost) credit (9.5) (5.2) 0.3 0.4 Net actuarial (loss) gain (480.0) (481.1) 3.1 6.4 Accumulated other comprehensive income (loss) — pretax $(489.4) $(486.2) $3.4 $6.8 Accumulated other comprehensive income (loss) — net of tax $(306.5) $(305.9) $4.1 $5.8