Energizer 2013 Annual Report Download - page 85

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ENERGIZER HOLDINGS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in millions, except per share)
Changes recognized in other comprehensive income for the year ended September 30, 2013 are as follows:
Pension Postretirement
Changes in plan assets and benefit obligations recognized in other comprehensive
loss
Prior service cost from plan recent amendment $ — $ (3.3)
Net gain/loss arising during the year (111.0) 0.4
Effect of exchange rates 0.2 0.1
Amounts recognized as a component of net periodic benefit cost
Amortization or curtailment recognition of prior service credit 37.6 29.9
Amortization or settlement recognition of net gain/loss (31.1) 22.6
Total recognized in other comprehensive income $ (104.3) $ 49.7
The Company expects to contribute $31.1 to its pension plans and $1.7 to its postretirement plans in fiscal 2014.
The Company’s expected future benefit payments are as follows:
For The Years Ending September 30,
Pension Postretirement
2014 $ 79.7 $ 1.7
2015 $ 81.9 $ 0.3
2016 $ 85.2 $ 0.3
2017 $ 86.3 $ 0.4
2018 $ 90.5 $ 0.4
2019 to 2023 $ 458.5 $ 2.0
The accumulated benefit obligation for defined benefit pension plans was $1,280.3 and $1,365.3 at September 30, 2013 and
2012, respectively. The following table shows pension plans with an accumulated benefit obligation in excess of plan assets at
the dates indicated.
September 30,
2013 2012
Projected benefit obligation $ 1,178.1 $ 1,270.1
Accumulated benefit obligation $ 1,162.6 $ 1,254.0
Estimated fair value of plan assets $ 868.5 $ 810.0
Pension plan assets in the U.S. plan represent approximately 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 approximately: (a) equities, including U.S. and foreign: 65%, (b) debt
securities, including U.S. bonds: 31% and (c) other: 4%. Actual allocations at September 30, 2013 approximated these targets.
The U.S. plan held no shares of ENR stock at September 30, 2013. Investment objectives are similar for non-U.S. pension
arrangements, subject to local regulations.
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