2.0.0.10 false Note 13 - Employees Post retirement Benefits and Other Benefits 00912 - Disclosure - Note 13 - Employees Post retirement Benefits and Other Benefits true false false false 1 usd $ false false Dollars Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 2 Notes to Financial Statements [Abstract] 0 pbra_NotesToFinancialStatementsAbstract pbra false na duration string No definition available. false false false false false true false false false false false false 1 false false false false 0 0 false false false No definition available. false 3 Note 13 - Employees Postretirement Benefits and Other Benefits 1 us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock us-gaap true na duration string No definition available. false false false false false false false false false false false false 1 false false false false 0 0 <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%"> 13. Employees Postretirement Benefits and Other Benefits a) Employees postretirement benefits balances The Company sponsors a contributory defined benefit pension plan covering substantially all of its employees and provides certain health care benefits for a number of active and retired employees. During 2010, the Company made contributions of US$178 to pension and health care plans (US$586 in 2009). The balances related to Employees Postretirement Benefits are represented as follows: <div align="left"> <table style="FONT-SIZE: 9pt; WIDTH: 100%; FONT-FAMILY: ''''''''''''''''''''''Times New Roman''''''''''''''''''''''" cellspacing="0" border="0"> <tr> <td width="36%"></td> <td width="11%"></td> <td width="13%"></td> <td width="10%"></td> <td width="10%"></td> <td width="10%"></td> <td width="7%"></td> </tr> <tr valign="bottom"> <td align="left"> </td> <td align="center" style="border-bottom:1px solid #000000;"> </td> <td align="center" style="border-bottom:1px solid #000000;"> </td> <td align="center" style="border-bottom:1px solid #000000;">As of </td> <td align="center" style="border-bottom:1px solid #000000;"> </td> <td align="center" style="border-bottom:1px solid #000000;"> </td> <td align="center" style="border-bottom:1px solid #000000;"> </td> </tr> <tr valign="bottom"> <td align="left"> </td> <td align="center" colspan="2" style="border-bottom:1px solid #000000;">March 31, 2010 </td> <td align="center" style="border-bottom:1px solid #000000;"> </td> <td align="center" colspan="3" style="border-bottom:1px solid #000000;">December 31, 2009 </td> </tr> <tr valign="bottom"> <td align="left"> </td> <td align="center"> </td> <td align="center">Health </td> <td align="center"> </td> <td align="center"> </td> <td align="center">Health </td> <td align="center"> </td> </tr> <tr valign="bottom"> <td align="left"> </td> <td align="center">Pension </td> <td align="center">Care </td> <td align="center"> </td> <td align="center">Pension </td> <td align="center">Care </td> <td align="center"> </td> </tr> <tr valign="bottom"> <td align="left"> </td> <td align="center" style="border-bottom:1px solid #000000;">Benefits </td> <td align="center" style="border-bottom:1px solid #000000;">Benefits </td> <td align="center" style="border-bottom:1px solid #000000;">Total </td> <td align="center" style="border-bottom:1px solid #000000;">benefits  </td> <td align="center" style="border-bottom:1px solid #000000;">Benefits</td> <td align="center" style="border-bottom:1px solid #000000;">Total </td> </tr> <tr valign="bottom"> <td align="left">Current liabilities </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> </tr> <tr valign="bottom"> <td align="left" style="TEXT-INDENT:2.000000px"> Defined-benefit plan </td> <td align="right">359 </td> <td align="right">318 </td> <td align="right">677 </td> <td align="right"> 182 </td> <td align="right"> 325 </td> <td align="right"> 507 </td> </tr> <tr valign="bottom"> <td align="left" style="TEXT-INDENT:2.000000px"> Variable Contribution plan </td> <td align="right" style="border-bottom:1px solid #000000;">26 </td> <td align="right" style="border-bottom:1px solid #000000;">- </td> <td align="right" style="border-bottom:1px solid #000000;">26 </td> <td align="right" style="border-bottom:1px solid #000000;"> 187 </td> <td align="right" style="border-bottom:1px solid #000000;"> - </td> <td align="right" style="border-bottom:1px solid #000000;"> 187 </td> </tr> <tr> <td colspan="7"> </td> </tr> <tr valign="bottom"> <td align="left" style="TEXT-INDENT:2.000000px"> Employees.postretirement>projected </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> </tr> <tr valign="bottom"> <td> benefits obligation </td> <td align="right" style="border-bottom:1px solid #000000;">385 </td> <td align="right" style="border-bottom:1px solid #000000;">318 </td> <td align="right" style="border-bottom:1px solid #000000;">703 </td> <td align="right" style="border-bottom:1px solid #000000;"> 369 </td> <td align="right" style="border-bottom:1px solid #000000;"> 325 </td> <td align="right" style="border-bottom:1px solid #000000;"> 694 </td> </tr> <tr> <td colspan="7"> </td> </tr> <tr valign="bottom"> <td align="left">Long-term liabilities </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> </tr> <tr valign="bottom"> <td align="left" style="TEXT-INDENT:2.000000px"> Defined-benefit plan </td> <td align="right" style="border-bottom:1px solid #000000;">4,375 </td> <td align="right" style="border-bottom:1px solid #000000;">6,546 </td> <td align="right" style="border-bottom:1px solid #000000;">10,921 </td> <td align="right" style="border-bottom:1px solid #000000;"> 4,419 </td> <td align="right" style="border-bottom:1px solid #000000;"> 6,544 </td> <td align="right" style="border-bottom:1px solid #000000;"> 10,963 </td> </tr> <tr valign="bottom"> <td align="left" style="TEXT-INDENT:2.000000px"> Employees postretirement projected </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> </tr> <tr valign="bottom"> <td> benefits obligation </td> <td align="right" style="border-bottom:3px double #000000;">4,760 </td> <td align="right" style="border-bottom:3px double #000000;">6,864 </td> <td align="right" style="border-bottom:3px double #000000;">11,624 </td> <td align="right" style="border-bottom:3px double #000000;"> 4,788 </td> <td align="right" style="border-bottom:3px double #000000;"> 6,869 </td> <td align="right" style="border-bottom:3px double #000000;"> 11,657 </td> </tr> <tr> <td colspan="7"> </td> </tr> <tr valign="bottom"> <td align="left">Shareholders equity - Accumulated </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> </tr> <tr valign="bottom"> <td align="left" style="TEXT-INDENT:1.000000px">other comprehensive income </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> </tr> <tr> <td colspan="7"> </td> </tr> <tr valign="bottom"> <td align="left" style="TEXT-INDENT:2.000000px"> Defined-benefit plan </td> <td align="right">2,213 </td> <td align="right">118 </td> <td align="right">2,331 </td> <td align="right"> 2,282 </td> <td align="right"> 121 </td> <td align="right"> 2,403 </td> </tr> <tr valign="bottom"> <td align="left" style="TEXT-INDENT:2.000000px"> Variable Contribution plan </td> <td align="right">91 </td> <td align="right">- </td> <td align="right">91 </td> <td align="right"> 91 </td> <td align="right"> - </td> <td align="right"> 91 </td> </tr> <tr valign="bottom"> <td align="left" style="TEXT-INDENT:2.000000px"> Tax effect </td> <td align="right" style="border-bottom:1px solid #000000;">(783) </td> <td align="right" style="border-bottom:1px solid #000000;">(40) </td> <td align="right" style="border-bottom:1px solid #000000;">(823) </td> <td align="right" style="border-bottom:1px solid #000000;"> (807) </td> <td align="right" style="border-bottom:1px solid #000000;"> (41) </td> <td align="right" style="border-bottom:1px solid #000000;"> (848) </td> </tr> <tr> <td colspan="7"> </td> </tr> <tr valign="bottom"> <td align="left" style="TEXT-INDENT:2.000000px"> Net balance recorded in </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> </tr> <tr valign="bottom"> <td> shareholders equity </td> <td align="right" style="border-bottom:3px double #000000;">1,521 </td> <td align="right" style="border-bottom:3px double #000000;">78 </td> <td align="right" style="border-bottom:3px double #000000;">1,599 </td> <td align="right" style="border-bottom:3px double #000000;"> 1,566 </td> <td align="right" style="border-bottom:3px double #000000;"> 80 </td> <td align="right" style="border-bottom:3px double #000000;"> 1,646 </td> </tr> </table> </div>   </div> <div style="page-break-before: always"></div> <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%"> b) Funded status of the plans Net periodic benefit cost includes the following components: <div align="left"> <table style="FONT-SIZE: 9pt; WIDTH: 100%; FONT-FAMILY: ''''''''''''''''''''''Times New Roman''''''''''''''''''''''" cellspacing="0" border="0"> <tr> <td width="32%"></td> <td width="12%"></td> <td width="13%"></td> <td width="10%"></td> <td width="9%"></td> <td width="13%"></td> <td width="9%"></td> </tr> <tr valign="bottom"> <td align="left"> </td> <td align="center" style="border-bottom:1px solid #000000;"> </td> <td align="center" style="border-bottom:1px solid #000000;"> </td> <td align="center" colspan="2" style="border-bottom:1px solid #000000;">As of March 31, </td> <td align="center" style="border-bottom:1px solid #000000;"> </td> <td align="center" style="border-bottom:1px solid #000000;"> </td> </tr> <tr valign="bottom"> <td align="left"> </td> <td align="center" style="border-bottom:1px solid #000000;"> </td> <td align="center" style="border-bottom:1px solid #000000;">2010 </td> <td align="center" style="border-bottom:1px solid #000000;"> </td> <td align="center" style="border-bottom:1px solid #000000;"> </td> <td align="center" style="border-bottom:1px solid #000000;">2009 </td> <td align="center" style="border-bottom:1px solid #000000;"> </td> </tr> <tr valign="bottom"> <td align="left"> </td> <td align="center" colspan="2" style="border-bottom:1px solid #000000;">Pension Plans </td> <td align="center"> </td> <td align="center" colspan="2" style="border-bottom:1px solid #000000;">Pension Plans </td> <td align="center"> </td> </tr> <tr> <td colspan="7"> </td> </tr> <tr valign="bottom"> <td align="left"> </td> <td align="center"> </td> <td align="center"> </td> <td align="center">Health </td> <td align="center"> </td> <td align="center"> </td> <td align="center">Health </td> </tr> <tr valign="bottom"> <td align="left"> </td> <td align="center">Defined-</td> <td align="center">Variable </td> <td align="center">Care </td> <td align="center">Defined- </td> <td align="center">Variable </td> <td align="center">Care </td> </tr> <tr valign="bottom"> <td align="left"> </td> <td align="center" style="border-bottom:1px solid #000000;">Benefits</td> <td align="center" style="border-bottom:1px solid #000000;">Contribution </td> <td align="center" style="border-bottom:1px solid #000000;">Benefits </td> <td align="center" style="border-bottom:1px solid #000000;">Benefits </td> <td align="center" style="border-bottom:1px solid #000000;">Contribution </td> <td align="center" style="border-bottom:1px solid #000000;">Benefits </td> </tr> <tr> <td colspan="7"> </td> </tr> <tr valign="bottom"> <td align="left"> Service cost-benefits earned during </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> </tr> <tr valign="bottom"> <td align="left" style="TEXT-INDENT:2.000000px"> the period </td> <td align="right">60 </td> <td align="right">21 </td> <td align="right">28 </td> <td align="right"> 44 </td> <td align="right"> 11 </td> <td align="right"> 15 </td> </tr> <tr valign="bottom"> <td align="left"> Interest cost on projected benefit </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> <td align="left"> </td> </tr> <tr valign="bottom"> <td align="left" style="TEXT-INDENT:2.000000px"> obligation </td> <td align="right">744 </td> <td align="right">8 </td> <td align="right">186 </td> <td align="right"> 478 </td> <td align="right"> 4 </td> <td align="right"> 127 </td> </tr> <tr valign="bottom"> <td align="left"> Expected return on plan assets </td> <td align="right">(625) </td> <td align="right">(4) </td> <td align="right">- </td> <td align="right"> (403) </td> <td align="right"> (2) </td> <td align="right"> - </td> </tr> <tr valign="bottom"> <td align="left"> Amortization of net actuarial loss </td> <td align="right">16 </td> <td align="right">2 </td> <td align="right">- </td> <td align="right"> - </td> <td align="right"> - </td> <td align="right"> - </td> </tr> <tr valign="bottom"> <td align="left"> Amortization of prior service cost </td> <td align="right" style="border-bottom:1px solid #000000;">- </td> <td align="right" style="border-bottom:1px solid #000000;">- </td> <td align="right" style="border-bottom:1px solid #000000;">- </td> <td align="right" style="border-bottom:1px solid #000000;"> 11 </td> <td align="right" style="border-bottom:1px solid #000000;"> 2 </td> <td align="right" style="border-bottom:1px solid #000000;"> - </td> </tr> <tr valign="bottom"> <td align="left"> </td> <td align="right">195 </td> <td align="right">27 </td> <td align="right">214 </td> <td align="right"> 130 </td> <td align="right"> 15 </td> <td align="right"> 142 </td> </tr> <tr> <td colspan="7"> </td> </tr> <tr valign="bottom"> <td align="left"> Employees contributions </td> <td align="right" style="border-bottom:1px solid #000000;">(55) </td> <td align="right" style="border-bottom:1px solid #000000;">(4) </td> <td align="right" style="border-bottom:1px solid #000000;">- </td> <td align="right" style="border-bottom:1px solid #000000;"> (49) </td> <td align="right" style="border-bottom:1px solid #000000;"> (5) </td> <td align="right" style="border-bottom:1px solid #000000;"> - </td> </tr> <tr> <td colspan="7"> </td> </tr> <tr valign="bottom"> <td align="left"> Net periodic benefit cost </td> <td align="right" style="border-bottom:3px double #000000;">140 </td> <td align="right" style="border-bottom:3px double #000000;">23 </td> <td align="right" style="border-bottom:3px double #000000;">214 </td> <td align="right" style="border-bottom:3px double #000000;"> 81 </td> <td align="right" style="border-bottom:3px double #000000;"> 10 </td> <td align="right" style="border-bottom:3px double #000000;"> 142 </td> </tr> </table> </div>   b.1) Defined benefits plan Petrobras and its subsidiaries sponsoring the Petros plan, trade unions and Petros executed a Financial Commitment Agreement on October 23, 2008, after legal homologation on August 25, 2008, to cover commitments with pension plans, which will be paid in semi-annually installments with interest of 6% p.a. on the debtor balance updated by the IPCA, for the next 20 years, as previously agreed during the renegotiation. At March 31, 2010, the balance of the obligation of Petrobras and subsidiaries referring to the Financial Commitment Agreement was US$2,497, of which US$57 matures in 2010. </div> <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%"> The Companys obligation, through the Financial Commitment Agreement, presents a counterpart to the concessions made by the members/beneficiaries of the Petros Plan in the amendment of the plan's regulations, in relation to the benefits, and in the closing of existing litigations. At March 31, 2010, Petrobras had long-term National Treasury Notes in the amount of US$2,394 (US$2,363 at December 31, 2009), acquired to balance liabilities with Petros, which will be held in the Company's portfolio and used as a guarantee for the Financial Commitment Agreement. As from July 01, 2007, the Company implemented the new supplementary pension plan, a Variable Contribution (CV) or mixed plan, called Petros Plan 2, for employees with no supplementary pension plan. b.2) Variable contribution plan A portion of this plan with defined benefits characteristics refers to the risk coverage for disability and death, a guarantee of a minimum benefit and a lifetime income, and the related actuarial commitments are recorded according to the projected credit unit method. The portion of the plan with defined contribution characteristics, earmarked for forming a reserve for programmed retirement, was recognized in the results for the year as the contributions are made. In the three-month period ended March 31, 2010, the contribution of Petrobras and subsidiaries to the defined contribution portion of this plan was US$47. Petrobras and the other sponsors fully assumed the contributions corresponding to the period in which the participants had no plan. This past service shall consider the period as from August 2002, or from the date of hiring, until August 29, 2007. The plan will continue to admit new subscribers after this date but no longer including any payment for the period relating to past service. </div> <div style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%"> The disbursements related to the cost of past service will be made on a monthly basis over the same number of months during which the participant had no plan and, therefore, should cover the part related to the participants and the sponsors. </div> 13. Employees Postretirement Benefits and Other Benefits a) Employees postretirement benefits balances The Company sponsors a contributory false false false Description containing the entire pension and other postretirement benefits disclosure as a single block of text. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Staff Position (FSP) -Number FAS106-2 -Paragraph 20, 21, 22 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 5, 6, 7, 8 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 87 -Paragraph 264 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Implementation Guide (Q and A) -Number FAS88 -Paragraph 63 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 158 -Paragraph 7, 21, 22 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 5 -Subparagraph b Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 30 -Paragraph 26 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 106 -Paragraph 518 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 03-2 -Paragraph 8 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 8 -Subparagraph m Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 5 -Subparagraph h Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 5 -Subparagraph a Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 5 -Subparagraph q false false 1 2 false UnKnown UnKnown UnKnown false true