Energizer 2011 Annual Report Download - page 79

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ENERGIZER HOLDINGS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in millions, except per share and percentage data)
the dates indicated.
Projected benefit obligation
Accumulated benefit obligation
Fair value of plan assets
September 30,
2011
$ 1,158.9
1,146.3
711.3
2010
$ 932.6
891.7
641.3
Pension plan assets in the U.S. plan represent 80% of assets in all of the Company’s defined benefit pension plans. Investment
policy for the U.S. plan includes a mandate to diversify assets and invest in a variety of asset classes to achieve that goal. The
U.S. plan's assets are currently invested in several funds representing most standard equity and debt security classes. The broad
target allocations are: (a) equities, including U.S. and foreign: 56%, (b) debt securities, U.S. bonds: 39% and (c) other: 5%.
Actual allocations at September 30, 2011 approximated these targets. The U.S. plan held no shares of ENR stock at
September 30, 2011. Investment objectives are similar for non-U.S. pension arrangements, subject to local regulations.
The following table presents pension and postretirement expense:
Service cost
Interest cost
Expected return on plan assets
Amortization of unrecognized prior service cost
Amortization of unrecognized transition asset
Recognized net actuarial loss/(gain)
Curtailment loss recognized
Special termination benefits recognized
Settlement loss recognized
Net periodic benefit cost
For The Years Ended September 30,
Pension
2011
$ 28.9
55.9
(63.3)
(5.6)
0.2
14.5
0.9
9.6
5.2
$ 46.3
2010
$ 32.7
50.2
(62.1)
(6.1)
0.2
7.7
—
—
—
$ 22.6
2009
$ 31.7
52.4
(60.7)
(2.9)
0.4
2.9
—
—
3.2
$ 27.0
Postretirement
2011
$ 0.5
2.7
—
(2.7)
—
(1.3)
—
—
—
$(0.8)
2010
$ 0.5
2.5
(0.1)
(2.7)
—
(1.5)
—
—
—
$(1.3)
2009
$ 0.4
2.6
—
(2.5)
—
(1.6)
—
—
—
$(1.1)
Amounts expected to be amortized from accumulated other comprehensive loss into net period benefit cost during the year
ending September 30, 2012, are as follows:
Net actuarial (loss)/gain
Prior service credit
Pension
$(20.5)
5.5
Postretirement
$ 1.9
2.6
The following table presents assumptions, which reflect weighted-averages for the component plans, used in determining the
above information:
69