ADP 2008 Annual Report Download - page 58

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The Company’ s pension plans funded status as of June 30, 2008 and 2007 is as follows:
The impact of the adoption of SFAS No. 158 resulted in a reduction to stockholders’ equity of $63.1 million, which consists of the following
adjustments to the Consolidated Balance Sheet as of June 30, 2007:
After the adoption of SFAS No. 158, the amounts recognized on the Consolidated Balance Sheets as of June 30, 2008 and 2007 consisted of:
58
June 30, 2008 2007
Change in plan assets:
Fair value of plan assets at beginning of year $ 976.2 $ 821.8
Actual return on plan assets (49.9) 150.7
Employer contributions 55.6 24.4
Benefits paid (29.7) (20.7)
Fair value of plan assets at end of year $ 952.2 $ 976.2
Change in benefit obligation:
Benefit obligation at beginning of year $ 830.3 $ 762.7
Service cost 46.1 42.2
Interest cost 50.7 49.0
Actuarial and other gains (54.6) (2.9)
Benefits paid (29.7) (20.7)
Projected benefit obligation at end of year $ 842.8 $ 830.3
Funded status - plan assets less benefit obligations $ 109.4 $ 145.9
Current assets $1.6
N
oncurrent assets (51.3)
Current liabilities (2.8)
N
oncurrent liabilities (10.6)
Impact to stockholders' equity $(63.1)
June 30,
2008 2007
N
oncurrent assets $
180.6 $
201.3
Current liabilities (3.6) (2.9)
N
oncurrent liabilities (67.6) (52.5)
N
et amount recognized $
109.4 $
145.9