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Retirement Plans (Tables) - Pension Plans, Defined Benefit
6 Months Ended
Jun. 30, 2018
Schedule of Components of Net Periodic Benefit Cost

The Company’s net periodic benefit costs for the Existing Veoneer Plans for the three and six months ended June 30, 2017 and 2018 were as follows:

 

Three Months Ended June 30

 

 

Six Months Ended June 30

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Service cost

$

1

 

 

$

1

 

 

$

2

 

 

$

2

 

Interest cost

 

1

 

 

 

1

 

 

 

1

 

 

 

1

 

Expected return on plan assets

 

-

 

 

 

(1

)

 

 

(1

)

 

 

(1

)

Net periodic benefit cost

$

2

 

 

$

1

 

 

$

2

 

 

$

2

 

 

Schedule of Changes in Benefit Obligations and Plan Assets

Changes in Benefit Obligations and Plans Assets

 

 

 

As of

 

 

 

June 30, 2018

 

Benefit obligation as of April 1, 2018

 

$

-

 

Service cost

 

 

-

 

Interest cost

 

 

-

 

Benefits paid

 

 

-

 

Obligation transferred in

 

 

6

 

Benefit obligation at end of the period

 

$

6

 

Fair value of plan assets as of April 1, 2018

 

 

 

 

Company contributions

 

 

-

 

Benefits paid

 

 

-

 

Plan assets transferred in

 

 

-

 

Fair value of plan assets at end of the period

 

$

-

 

Funded status recognized in the balance sheet

 

$

(6

)

 

Schedule of Components of Accumulated Other Comprehensive Income Before Tax

Components of Accumulated other Comprehensive Income Before Tax

 

 

 

As of

 

 

 

June 30, 2018

 

Net actuarial loss (gain)

 

$

(1

)

Prior service cost (credit)

 

 

-

 

Total accumulated other comprehensive income

   recognized in the balance sheet

 

$

(1

)

 

Transferred Veoneer Plans  
Schedule of Legal Name of the Plans

Prior to the plan transfers to Veoneer legal entities on April 1, 2018, eligible Veoneer employees participated in the following Autoliv-sponsored plans:

 

Country

 

Name of Defined Benefit Pans

Germany

 

Direct Pension Promises Plan

India

 

Gratuity Plan

Japan

 

Retirement Allowances Plan

 

Defined Benefit Corporate Plan

South Korea

 

Severance Pay Plan (statutory plan)

 

Autoliv Sponsored Plans  
Schedule of Legal Name of the Plans

Prior to certain legal decisions or plan amendments, Veoneer employees in Sweden and in the U.S. participated in a multiemployer plan with Autoliv. The legal name of the plans are as follow:

 

Country

 

Name of Defined Benefit Pans

Sweden

 

ITP plan

U.S.

 

Autoliv ASP, Inc. Pension Plan

 

 

Autoliv ASP, Inc. Excess Pension Plan

 

 

Autoliv ASP, Inc. Supplemental Pension Plan