Energizer 2010 Annual Report Download - page 99

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Exhibit 13
ENERGIZER HOLDINGS, INC.
(Dollars in millions, except per share and percentage data)
89
The Company also sponsors or participates in a number of other non-U.S. pension
arrangements, including various retirement and termination benefit plans, some of which are
required by local law or coordinated with government-sponsored plans, which are not significant
in the aggregate and therefore are not included in the information presented in the following
tables.
The Company currently provides other postretirement benefits, consisting of health care and life
insurance benefits for certain groups of retired employees. Certain retirees are eligible for a
fixed subsidy, provided by the Company, toward their total cost of health care benefits. Retiree
contributions for health care benefits are adjusted periodically to cover the entire increase in total
plan costs. Cost trend rates no longer materially impact the Company’s future cost of the plan
due to the fixed nature of the subsidy.
The following tables present the benefit obligation, plan assets and funded status of the plans:
September 30,
Pension Postretirement
2010 2009 2010 2009
Change in Projected Benefit Obligation
Benefit obligation at beginning of year 936.3$ 800.0$ 43.6$ 37.7$
Service cost 32.7 31.7 0.5 0.4
Interest cost 50.2 52.4 2.5 2.6
Plan participants' contributions 1.2 1.1 - -
Actuarial loss/(gain) 81.2 133.5 (0.1) 4.1
Benefits paid (57.3) (37.5) (1.2) (1.2)
Plan amendments - (46.8) (1.2) -
Foreign currency exchange rate changes 2.6 1.9 0.3 -
Projected Benefit Obligation at end of year 1,046.9$ 936.3$ 44.4$ 43.6$
Change in Plan Assets
Fair value of plan assets at beginning of year 699.4$ 696.0$ 2.2$ 1.7$
Actual return on plan assets 81.5 26.4 - -
Company contributions 23.2 16.0 0.9 1.8
Plan participants' contributions 1.2 1.1 5.4 5.6
Benefits paid (57.3) (37.5) (7.5) (6.9)
Foreign currency exchange rate changes 4.8 (2.6) - -
Fair value of plan assets at end of year 752.8$ 699.4$ 1.0$ 2.2$
Funded status at end of year (294.1)$ (236.9)$ (43.4)$ (41.4)$