Burger King 2012 Annual Report Download - page 109
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Table of Contents
The discount rate used in the calculation of the benefit obligation at December 31, 2012 and December 31, 2011 for the U.S. Plans is derived from a
yield curve comprised of the yields of approximately 650 and 540 market-weighted corporate bonds, respectively, rated AA on average by Moody’s,
Standard & Poors, and Fitch, matched against the cash flows of the U.S. Plans.
The weighted-average assumptions used in computing the net periodic benefit cost of the U.S. Pension Plans, International Pension Plans and the
U.S. Retiree Medical Plan are as follows:
Discount rate 4.58% 5.35% 5.06% 5.16% 6.37%
Expected long-term rate of return on plan assets 6.50% 7.50% 7.50% 7.50% 7.50%
Discount rate 4.58% 5.35% 5.06% 5.16% 6.37%
Expected long-term rate of return on plan assets N/A N/A N/A N/A N/A
Discount rate 4.86% 5.38% 5.15% 5.09% 6.07%
Range of compensation rate increase 3.47% 3.79% 3.66% 3.58% 3.57%
Expected long-term rate of return on plan assets 5.25% 6.49% 6.10% 6.37% 6.42%
The expected long-term rate of return on plan assets is determined by expected future returns on the asset categories in target investment allocation. These
expected returns are based on historical returns for each asset’s category adjusted for an assessment of current market conditions.
The assumed healthcare cost trend rates are as follows:
Healthcare cost trend rate assumed for next year 8.00% 8.00% 8.00% 8.00% 8.00%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 5.00% 5.00% 5.00% 5.00% 5.00%
Year that the rate reaches the ultimate trend rate 2020 2020 2020 2020 2020
Assumed healthcare cost trend rates do not have a significant effect on the amounts reported for the postretirement healthcare plans, since a one-
percentage point increase or decrease in the assumed healthcare cost trend rate would have a minimal effect on service and interest cost for the postretirement
obligation.
108
Source: Burger King Worldwide, Inc., 10-K, February 22, 2013 Powered by Morningstar® Document Research℠
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