Burger King 2011 Annual Report Download - page 108

Download and view the complete annual report

Please find page 108 of the 2011 Burger King annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 152

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152

Table of Contents
BURGER KING HOLDINGS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements — (Continued)
International Pension Plans
Successor Predecessor
2011
October 19,
2010 to
December 31,
2010
July 1, 2010 to
October 18,
2010 Fiscal 2010
Benefit obligation at end of year $ 30.0 $ 28.5 $ 32.9 $ 29.6
Fair value of plan assets at end of year 21.1 $ 22.1 $ 22.1 $ 18.3
Funded status of plan $ (8.9) $ (6.4) $ (10.8) $ (11.3)
Amounts recognized in the consolidated balance sheet
Noncurrent Assets $ — $ 0.8 $ — $ —
Current liabilities — (0.1) (0.1) (0.1)
Noncurrent liabilities (8.9) (7.1) (10.7) (11.2)
Net pension liability, end of fiscal year $ (8.9) $ (6.4) $ (10.8) $ (11.3)
Amounts recognized in accumulated other comprehensive income (AOCI)
Unrecognized actuarial loss (gain) $ (1.5) $ (3.4) $ 0.6 $ 2.7
Total AOCI (before tax) $ (1.5) $ (3.4) $ 0.6 $ 2.7
Additional year-end information for the U.S. Pension Plans, International Pension Plans and U.S. Retiree Medical Plan with accumulated benefit
obligations in excess of plan assets
The following sets forth the projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the U.S. Pension Plans,
International Pension Plans and U.S. Retiree Medical Plan with accumulated benefit obligations in excess of plan assets (in millions):
Successor Predecessor Successor Predecessor
U.S. Pension Plans U.S. Retiree Medical Plan
As of
December 31, As of June 30,
As of
December 31, As of June 30,
2011 2010 2010 2011 2010 2010
Projected benefit obligation $ 193.0 $ 176.5 $ 179.0 $ 19.5 $ 26.1 $ 26.0
Accumulated benefit obligation $ 193.0 $ 176.5 $ 179.0 $ 19.5 $ 26.1 $ 26.0
Fair value of plan assets $ 129.0 $ 122.1 $ 109.7 $ — $ — $ —
International Pension Plans
Successor Predecessor
As of December 31, As of June 30,
2011 2010 2010
Projected benefit obligation $ 30.0 $ 6.9 $ 8.8
Accumulated benefit obligation $ 21.2 $ 6.9 $ 1.6
Fair value of plan assets $ 21.1 $ — $ 1.3
Components of Net Periodic Benefit Cost
The net periodic benefit costs for the U.S. Pension Plans and U.S. Retiree Medical Plan and International Pension Plans did not exceed $2.0 million in any
comparative period.
107
Source: Burger King Holdings Inc, 10-K, March 14, 2012 Powered by Morningstar® Document Research℠