4. Given below is pension information for 2014 from pension footnotes and other sources in millions). Benefit obligation at year-end is total pension
liability based on PBO; pension expense is net periodic benefit cost; prepaid pension cost/obligation is net pension asset or liability position on the
balance sheet (reported as part of other assets or other liabilities, if negative).
	DuPont	Dow	PPG
Benefit Obligation at Year-End	29669	27979	5775
Fair Value of Plan Assets	20446	19629	3584
Net Periodic Benefit Cost	-406	-705	-68
Prepaid Pension Cost	1693	1270	297
Total Assets	49876	68796	17583
Net Income	3636	3432	2159
	51402	48173	9588
a. Calculate funding status (overfunded or underfunded, based on prepaid pension cost ), [pension obligation / total assets];
[prepaid pension cost (obligation) / total assets]; and [pension expense / net income]. Note: Net pension benefit cost is a negative expense for these
companies (increases net income), because of positive expected return on plan assets.
	DuPont	Dow	PPG
Over or Underfunded
Benefit Obligation / Total Assets
Prepaid Pension Cost / Total Assets
Pension Expense / Net Income b. Compare the pension plans of the three chemical companies. Are there any concerns? Explain.