Burger King 2011 Annual Report Download - page 107

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Table of Contents
BURGER KING HOLDINGS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements — (Continued)
Obligations and Funded Status
The following table sets forth the change in benefit obligations, fair value of plan assets and amounts recognized in the balance sheets for the U.S. Pension
Plans, International Pension Plans and U.S. Retiree Medical Plan (in millions):
Successor Predecessor Successor Predecessor
U.S. Pension Plans U.S. Retiree Medical Plan
2011
October 19,
2010 to
December 31,
2010
July 1, 2010 to
October 18,
2010
Fiscal
2010 2011
October 19,
2010 to
December 31,
2010
July 1, 2010 to
October 18,
2010
Fiscal
2010
Change in benefit obligation
Benefit obligation at beginning of year $ 176.5 $ 183.4 $ 179.0 $ 146.0 $ 26.1 $ 26.8 $ 26.0 $ 22.1
Service cost — — — — 0.3 0.1 0.1 0.4
Interest cost 9.2 1.9 2.7 9.1 1.3 0.3 0.4 1.3
Plan amendments — — — — (7.1) — — —
Actuarial (gains) losses 20.2 (6.9) 3.4 29.0 (0.8) (1.1) 0.4 2.7
Part D Rx Subsidy Received — — — — 0.1 — — 0.1
Benefits paid (12.9) (1.9) (1.7) (5.1) (0.4) — (0.1) (0.6)
Benefit obligation at end of year $ 193.0 $ 176.5 $ 183.4 $ 179.0 $ 19.5 $ 26.1 $ 26.8 $ 26.0
Change in plan assets
Fair value of plan assets at beginning of
year $ 122.1 $ 120.7 $ 109.7 $ 97.9 $ — $ — $ — $ —
Actual return on plan assets 7.5 3.3 12.7 14.6 — — — —
Employer contributions 5.5 — — 2.3 — — — —
Benefits paid (6.1) (1.9) (1.7) (5.1) — — — —
Fair value of plan assets at end of year $ 129.0 $ 122.1 $ 120.7 $ 109.7 $ — $ — $ — $ —
Funded status of plan $ (64.0) $ (54.4) $ (62.7) $ (69.3) $ (19.5) $ (26.1) $ (26.8) $ (26.0)
Amounts recognized in the
consolidated balance sheet
Current liabilities $ (1.6) $ (1.4) $ (1.2) $ (1.1) $ (1.1) $ (1.0) $ (1.0) $ (1.0)
Noncurrent liabilities (62.4) (53.0) (61.5) (68.2) (18.4) (25.1) (25.8) (25.0)
Net pension liability, end of fiscal year $ (64.0) $ (54.4) $ (62.7) $ (69.3) $ (19.5) $ (26.1) $ (26.8) $ (26.0)
Amounts recognized in accumulated
other comprehensive income (AOCI)
Prior service cost / (credit) $ — $ — $ — $ — $ (6.8) $ — $ — $ —
Unrecognized actuarial loss (gain) 13.0 (8.2) 47.9 55.1 (1.8) (1.1) (1.9) (2.3)
Total AOCI (before tax) $ 13.0 $ (8.2) $ 47.9 $ 55.1 $ (8.6) $ (1.1) $ (1.9) $ (2.3)
106
Source: Burger King Holdings Inc, 10-K, March 14, 2012 Powered by Morningstar® Document Research℠