Avon 2015 Annual Report Download - page 117

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Reconciliation of Benefit Obligations, Plan Assets and Funded Status
The following table summarizes changes in the benefit obligation, plan assets and the funded status of our significant defined benefit
pension and postretirement plans. We use a December 31 measurement date for all of our employee benefit plans.
Pension Plans Postretirement
BenefitsU.S. Plans Non-U.S. Plans
2015 2014 2015 2014 2015 2014
Change in Benefit Obligation:
Beginning balance $(705.2) $(668.3) $(777.6) $(734.3) $(93.4) $(93.8)
Service cost (13.0) (14.1) (5.3) (6.0) (.7) (.7)
Interest cost (25.1) (27.8) (23.6) (31.0) (3.7) (4.1)
Actuarial (loss) gain 44.4 (124.6) 54.3 (123.4) 5.7 (2.0)
Plan participant contributions – – – – (2.5) (2.8)
Benefits paid 92.1 129.1 35.6 45.5 7.9 9.3
Plan amendments – 2.0 – – 9.0 –
Curtailments – (1.4) .2 – – .3
Settlements – – – .7 – –
Special termination benefits – (.1) – – – (.2)
Foreign currency changes and other – – 48.7 70.9 1.1 .6
Ending balance $(606.8) $(705.2) $(667.7) $(777.6) $(76.6) $(93.4)
Change in Plan Assets:
Beginning balance $ 506.5 $ 531.1 $ 607.9 $ 608.7 $ – $ –
Actual return on plan assets (13.7) 54.5 16.3 62.8 – –
Company contributions 7.6 50.0 21.6 27.4 5.4 6.5
Plan participant contributions – – – – 2.5 2.8
Benefits paid (92.1) (129.1) (35.6) (45.5) (7.9) (9.3)
Foreign currency changes and other – – (33.9) (45.5) – –
Ending balance $ 408.3 $ 506.5 $ 576.3 $ 607.9 $ – $ –
Funded Status:
Funded status at end of year(1) $(198.5) $(198.7) $ (91.4) $(169.7) $(76.6) $(93.4)
Amount Recognized in Balance Sheet:
Other assets $ – $ – $ 8.1 $ 2.7 $ – $ –
Accrued compensation (6.6) (9.0) (1.6) (3.7) (6.9) (8.0)
Employee benefit plans liability (191.9) (189.7) (97.9) (168.7) (69.7) (85.4)
Net amount recognized(1) $(198.5) $(198.7) $ (91.4) $(169.7) $(76.6) $(93.4)
Pretax Amounts Recognized in
Accumulated Other Comprehensive
Loss:
Net actuarial loss $ 310.2 $ 380.0 $ 239.6 $ 302.5 $ 15.5 $ 23.2
Prior service credit (1.4) (2.1) (1.2) (1.4) (29.1) (24.6)
Total pretax amount recognized $ 308.8 $ 377.9 $ 238.4 $ 301.1 $(13.6) $ (1.4)
Supplemental Information:
Accumulated benefit obligation $ 601.7 $ 701.6 $ 185.0 $ 735.0 N/A N/A
Plans with Projected Benefit Obligation in
Excess of Plan Assets:
Projected benefit obligation $ 606.8 $ 705.2 $ 207.3 $ 750.8 N/A N/A
Fair value plan assets 408.3 506.5 107.8 584.1 N/A N/A
Plans with Accumulated Benefit
Obligation in Excess of Plan Assets:
Projected benefit obligation $ 606.8 $ 705.2 $ 186.3 $ 770.1 N/A N/A
Accumulated benefit obligation 601.7 701.6 173.7 744.7 N/A N/A
Fair value plan assets 408.3 506.5 93.7 597.6 N/A N/A
(1) Includes $145.7 and $148.0 of the U.S. pension plans at December 31, 2015 and 2014, respectively, and $53.6 and $68.6 of the postretirement benefit plans
net liability (related to the U.S.) at December 31, 2015 and 2014, respectively, which are included in discontinued operations. Amounts associated with the
pension and postretirement benefit plans in Canada and the postretirement benefit plan in Puerto Rico, which are included in discontinued operations, have
been excluded from all amounts in the table above.
A V O N 2015 F-35
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