Estee Lauder 2004 Annual Report Download - page 75

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THE EST{E LAUDER COMPANIES INC.73
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
2004 2003 2004 2003 2004 2003
(In millions)
Change in benefit obligation:
Benefit obligation at beginning of year $358.7 $310.3 $191.0 $154.7 $ 61.8 $ 43.7
Service cost 16.9 15.1 10.4 8.5 3.2 2.2
Interest cost 20.0 21.2 8.3 8.1 3.8 3.2
Plan participant contributions ——1.2 1.1 0.1 0.1
Actuarial loss (gain) (7.7) 19.8 (7.5) 18.9 (2.8) 14.5
Foreign currency exchange rate impact ——13.3 15.0 ——
Benefits paid (13.5) (11.5) (9.3) (6.0) (2.1) (1.9)
Plan amendments —3.8 0.2 ———
Special termination benefits ——1.5 ———
Acquisitions, divestitures, adjustments ——2.0 ———
Settlements and curtailments ——(3.7) (9.3) ——
Benefit obligation at end of year $374.4 $358.7 $207.4 $191.0 $ 64.0 $ 61.8
Change in plan assets:
Fair value of plan assets at beginning of year $277.4 $201.8 $120.9 $116.3 $— $—
Actual return on plan assets 42.0 9.3 13.6 (13.2) ——
Foreign currency exchange rate impact ——9.0 9.9 ——
Employer contributions 35.5 77.8 22.9 16.4 2.0 1.8
Plan participant contributions ——1.2 1.1 0.1 0.1
Settlements and curtailments ——(3.7) (3.6) ——
Benefits paid from plan assets (13.5) (11.5) (9.3) (6.0) (2.1) (1.9)
Fair value of plan assets at end of year $341.4 $277.4 $154.6 $120.9 $— $—
Funded status $ (33.0) $ (81.3) $ (52.8) $ (70.1) $(64.0) $(61.8)
Unrecognized net actuarial loss 92.8 128.1 63.5 73.4 3.4 6.4
Unrecognized prior service cost 7.2 7.6 2.4 2.4 (0.1) (0.2)
Unrecognized net transition obligation ——0.1 0.3 ——
Prepaid (accrued) benefit cost $ 67.0 $ 54.4 $ 13.2 $ 6.0 $(60.7) $(55.6)
Amounts recognized in the Balance Sheet consist of:
Prepaid benefit cost $118.5 $101.5 $ 26.0 $ 12.9 $— $—
Accrued benefit liability (52.8) (56.4) (47.8) (60.6) (60.7) (55.6)
Intangible asset 0.7 0.7 0.4 0.5 ——
Minimum pension liability 0.6 8.6 34.6 53.2 ——
Net amount recognized $ 67.0 $ 54.4 $ 13.2 $ 6.0 $(60.7) $(55.6)
PostretirementInternationalU.S.