Energizer 2009 Annual Report Download - page 39

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ENERGIZER HOLDINGS INC. 2009 ANNUAL REPORT PAGE 37
Pension Postretirement
September 30, 2009 2008 2009 2008
Change in Projected Benefit Obligation
Benefit obligation at beginning of year $ 800.0 $ 815.4 $ 37.7 $ 35.5
Impact of Playtex acquisition – 69.6 – 8.1
Service cost 31.7 33.9 0.4 0.4
Interest cost 52.4 50.6 2.6 2.5
Plan participants’ contributions 1.1 1.1 – –
Actuarial loss/(gain) 133.5 (107.7) 4.1 (2.9)
Benefits paid (37.5) (48.5) (1.2) (2.7)
Plan amendments (46.8) (2.6) – (2.9)
Plan settlements – (6.8) – –
Foreign currency exchange rate changes 1.9 (5.0) – (0.3)
Projected Benefit Obligation at end of year $ 936.3 $ 800.0 $ 43.6 $ 37.7
Change in Plan Assets
Fair value of plan assets at beginning of year $ 696.0 $ 795.2 $ 1.7 $ 2.0
Impact of Playtex acquisition – 61.4 – –
Actual return on plan assets 26.4 (118.7) – 0.1
Company contributions 16.0 18.7 1.8 2.3
Plan participants’ contributions 1.1 1.1 5.6 4.0
Benefits paid (37.5) (48.5) (6.9) (6.7)
Plan settlements – (6.8) – –
Foreign currency exchange rate changes (2.6) (6.4) – –
Fair value of plan assets at end of year $ 699.4 $ 696.0 $ 2.2 $ 1.7
Funded status at end of year $(236.9) $(104.0) $(41.4) $(36.0)
The following table presents the amounts recognized in the Consolidated
Balance Sheets and Consolidated Statements of Shareholders’ Equity.
Pension Postretirement
September 30, 2009 2008 2009 2008
Amounts Recognized in the
Consolidated Balance Sheets
Noncurrent assets $ 4.8 $ 42.5 $ – $ –
Current liabilities (6.6) (6.5) (1.0) (1.9)
Noncurrent liabilities (235.1) (140.0) (40.4) (34.1)
Net amount recognized $(236.9) $(104.0) $(41.4) $(36.0)
Amounts Recognized in
Accumulated Other
Comprehensive (Loss)/Income
Net loss/(gain) 267.2 106.6 (21.0) (27.0)
Prior service credit (53.9) (9.7) (24.2) (26.7)
Transition obligation 1.0 1.4 – –
Net amount recognized,
pre-tax
$ 214.3
$ 98.3
$ (45.2) $(53.7)
Changes recognized in other comprehensive loss for the year ended
September 30, 2009 are as follows:
Pension Postretirement
Changes in plan assets and benefit obligations
recognized in other comprehensive income
New prior service credit $ (46.8) $ –
Net loss arising during the year 171.0 4.3
Amounts recognized as a component of net
periodic benefit cost
Amortization, settlement or curtailment
recognition of net transition obligation (0.4)
–
Amortization or curtailment recognition
of prior service credit 2.6 2.5
Amortization or settlement recognition
of net (loss)/gain (10.4) 1.7
Total recognized in other comprehensive loss $116.0 $8.5