ADT 2000 Annual Report Download - page 60

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FIFTY EIGHT
The net pension cost recognized at September 30, 2000 and 1999 for all U.S. and non-U.S. defined benefit plans is as follows:
U.S. PLANS N ON-U.S. PLANS
($ IN M I LLIONS) 2 0 0 0 1 9 99 2 00 0 1 9 9 9
CHANGE IN BENEFIT OBLIGATION
Benefit obligation at beginning of year $1,142.5 $1,191.8 $ 1 ,3 3 9 .9 $ 835.4
Service cost 9 .6 35.8 5 9 .6 45.7
Interest cost 8 4 .6 86.2 7 5 .1 48.0
Employee contributions
——
8 .7 8.7
Plan amendments 0 .1 8.3 0 .6 0.8
Actuarial (gain) loss (1 5 .1 ) (74.4) (5 5 .1 ) 28.1
Benefits paid (7 7 .0 ) (68.8) (4 4 .1 ) (49.2)
Acquisitions 1 9 .2 190.9 1 3 2 .3 404.9
Divestitures
—
(69.8)
—
(5.9)
Plan curtailments (9 .0 ) (136.3) (2 .9 ) (10.7)
Plan settlements (7 1 .0 ) (25.7) (1 0 .1 ) (2.4)
Special termination benefits 1 .9 4.5 3 .0 9 .2
Currency translation adjustment
——
(1 3 9 .4 ) 27.3
Benefit obligation at end of year $1,085.8 $1,142.5 $ 1 ,3 6 7 .6 $1,339.9
CHANGE IN PLAN ASSETS
Fair value of plan assets at beginning of year $1,165.8 $ 997.4 $ 1 ,1 7 5 .2 $ 700.5
Actual return on plan assets 258.7 169.3 1 2 1 .7 86.0
Employer contributions 2 3 .9 24.7 5 5 .6 38.8
Employee contributions
——
8 .7 8.8
Acquisitions 7 .7 155.8 7 4 .7 376.9
Divestitures
—
(84.2)
—
(7.5)
Plan settlements (7 1 .0 ) (25.7) (9 .9 ) (2.4)
Benefits paid (7 7 .0 ) (68.9) (4 4 .1 ) (49.2)
Administrative expenses paid (3 .9 ) (2.6) (1 .7 ) (1.8)
Currency translation adjustment
——
(1 2 7 .1 ) 25.1
Fair value of plan assets at end of year $1,304.2 $1,165.8 $ 1 ,2 5 3 .1 $1,175.2
Funded status $ 2 1 8 . 4 $ 23.3 $ (1 1 4 .5 ) $ (164.7)
Unrecognized net actuarial (gain) loss (2 8 4 .7 ) (128.8) (2 .3 ) 89.4
Unrecognized prior service cost 4 .4 6.7 5 .3 6 .0
Unrecognized transition asset (4 .0 ) (5.1) (3 .8 ) (4.5)
Net amount recognized $ (6 5 .9 ) $ (103.9) $ (1 1 5 .3 ) $ (73.8)
AMOUNTS RECOGNIZED IN THE CONSOLIDATED BALANCE SHEETS
Prepaid benefit cost $ 4 7 .6 $ 29.2 $ 1 0 7 . 6 $ 106.8
Accrued benefit liability (1 1 7 .6 ) (141.7) (2 5 5 .8 ) (222.1)
Intangible asset 0 .8 1.0 4 .9 6.3
Accumulated other comprehensive income 3 .3 7.6 2 8 . 0 35.2
Net amount recognized $ (6 5 .9 ) $ (103.9) $ (1 1 5 .3 ) $ (73.8)
WEIGHTED-AVERAGE ASSUMPTIONS
Discount rate 8.00% 7.75% 5 .7 5 % 5.65%
Expected return on plan assets 9 .7 5 8.60 7 .4 0 7.39
Rate of compensation increase 4 .4 0 4.30 4 .0 7 4.03