Estee Lauder 2002 Annual Report Download - page 70

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The significant components of the above mentioned plans as of and for the year ended June 30 are summarized as follows:
Other than
Pension Plans Pension Plans
2002 2001 2002 2001 2002 2001
(In millions)
Change in benefit obligation:
Benefit obligation at beginning of year $ 280.4 $ 256.2 $131.5 $132.6 $43.2 $ 41.2
Service cost 13.5 12.3 7.9 8.0 1.8 1.9
Interest cost 20.6 19.7 7.2 6.7 2.9 3.0
Plan participant contributions ——0.9 0.9 0.1 0.1
Actuarial loss (gain) 10.8 5.0 3.6 4.8 (1.9) (1.0)
Foreign currency exchange rate impact ——13.8 (14.5) ——
Benefits paid (14.9) (12.9) (10.2) (7.0) (1.9) (2.0)
Plan amendments (0.1) 0.1 ——(0.5) —
Other ——————
Benefit obligation at end of year 310.3 280.4 154.7 131.5 43.7 43.2
Change in plan assets:
Fair value of plan assets at beginning of year 179.7 192.1 104.6 117.7 ——
Actual return on plan assets (9.5) (17.3) (0.9) (6.5) ——
Foreign currency exchange rate impact ——10.5 (11.6) ——
Employer contributions 46.5 17.8 11.4 10.6 1.8 1.9
Plan participant contributions ——0.9 0.9 0.1 0.1
Benefits paid from plan assets (14.9) (12.9) (10.2) (6.5) (1.9) (2.0)
Fair value of plan assets at end of year 201.8 179.7 116.3 104.6 ——
Funded status (108.5) (100.7) (38.4) (26.9) (43.7) (43.2)
Unrecognized net actuarial loss (gain) 104.4 69.6 37.2 24.3 (8.1) (6.6)
Unrecognized prior service cost 4.0 4.3 2.5 2.4 (0.2) 0.2
Unrecognized net transition (asset) obligation (1.5) (3.0) 0.6 0.8 ——
Accrued benefit cost $ (1.6) $(29.8) $1.9 $ 0.6 $(52.0) $(49.6)
Amounts recognized in the Balance Sheets consist of:
Prepaid benefit cost $39.5 $ 6.2 $ 10.1 $ 8.1 — —
Accrued benefit liability (47.3) (46.1) (40.1) (28.0) $(52.0)$(49.6)
Intangible asset 0.2 3.7 1.0 1.1 ——
Other 6.0 6.4 30.9 19.4 ——
Net amount recognized $ (1.6) $(29.8) $1.9 $ 0.6 $(52.0) $(49.6)
PostretirementInternationalU.S.
THEEST{E LAUDER COMPANIES INC.69