Avon 2003 Annual Report Download - page 60

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The following provides a reconciliation of benefit obligations, plan assets and funded status of these plans:
Pension Benefits
U.S. Plans Non-U.S. Plans Postretirement Benefits
2003 2002 2003 2002 2003 2002
Change in Benefit Obligation:
Beginning balance $(659.0) $(588.6) $(484.5) $(410.8) $(177.5) $(176.1)
Service cost (21.7) (19.0) (20.7) (18.8) (2.4) (2.2)
Interest cost (47.2) (43.6) (30.3) (25.4) (12.1) (12.5)
Actuarial (loss) gain (84.0) (47.1) .2 (18.8) (21.5) (18.2)
Benefits paid 95.0 61.3 36.0 30.9 13.0 14.2
Plan amendments 11.4 (22.0) (.9) (2.0) — 17.4
Settlements/special termination benefits —— 2.7 1.9 .2 —
Foreign currency changes —— (67.8) (38.7) ——
Other — — (6.0) (2.8) (.9) (.1)
Ending balance $(705.5) $(659.0) $(571.3) $(484.5) $(201.2) $(177.5)
Change in Plan Assets:
Beginning balance $ 475.8 $ 467.7 $ 253.2 $ 248.9 $— $—
Actual return(loss) on plan assets 100.3 (56.6) 27.2 (19.7) ——
Company contributions 66.6 126.0 39.0 40.2 13.0 14.2
Plan participant contributions — — 3.0 2.0 ——
Benefits paid (95.0) (61.3) (36.0) (30.9) (13.0) (14.2)
Foreign currency changes —— 33.8 16.3 ——
Settlements/special termination benefits — — (3.0) (3.6) ——
Ending balance $ 547.7 $ 475.8 $ 317.2 $ 253.2 $— $ —
Funded Status:
Funded status at end of year $(157.8) $(183.2) $(254.1) $(231.3) $(201.2) $(177.5)
Unrecognized actuarial loss 382.4 365.4 152.1 145.4 53.6 34.8
Unrecognized prior service cost 2.8 16.1 6.8 6.9 (45.8) (50.7)
Unrecognized net transition obligation — — 1.2 1.8 .3 .3
Accrued benefit cost $ 227.4 $ 198.3 $ (94.0) $ (77.2) $(193.1) $(193.1)
Amount Recognized in Balance Sheet:
Prepaid benefit $— $— $ 24.3 $ 21.5 $ — $ —
Accrued liability (80.9) (130.0) (237.2) (214.5) (193.1) (193.1)
Intangible asset 3.0 16.1 4.4 4.5 — —
Accumulated other comprehensive loss 305.3 312.2 114.5 111.3 — —
Net amount recognized $ 227.4 $ 198.3 $ (94.0) $ (77.2) $(193.1) $(193.1)
Accumulated benefit obligation $ 629.0 $ 605.8 $ 524.5 $ 446.1 N/A N/A
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