Estee Lauder 2007 Annual Report Download - page 77

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The signifi cant components of the above mentioned plans as of and for the years ended June 30 are summarized
as follows:
Other than
Pension Plans Pension Plans
U.S. International Post-retirement
2007 2006 2007 2006 2007 2006
(In millions)
Change in benefi t obligation:
Benefi t obligation at beginning of year $417.5 $423.2 $284.3 $255.5 $ 101.8 $ 92.6
Service cost 18.4 21.5 16.2 16.2 4.1 5.1
Interest cost 25.0 21.2 12.8 10.8 5.9 5.6
Plan participant contributions — — 1.5 1.3 0.3 0.4
Actuarial loss (gain) 4.4 (28.2) (10.2) (7.1) (4.0) (10.5)
Foreign currency exchange rate impact — — 11.9 6.9 0.7 (0.1)
Benefi ts, expenses, taxes and premiums paid (24.8) (20.2) (20.3) (16.5) (3.5) (3.2)
Plan amendments — — — — — —
Special termination benefi ts — — 1.6 0.3 — —
Acquisitions, divestitures, adjustments — — (1.7) 18.2 — 11.9
Settlements and curtailments — — (1.3) (1.3) — —
Benefi t obligation at end of year $440.5 $417.5 $294.8 $284.3 $ 105.3 $ 101.8
Change in plan assets:
Fair value of plan assets at beginning of year $376.0 $353.3 $242.1 $187.2 $— $—
Actual return on plan assets 54.0 35.5 26.1 28.9 — —
Foreign currency exchange rate impact — — 9.7 4.7 — —
Employer contributions 25.3 7.4 24.0 25.7 3.2 2.8
Plan participant contributions — — 1.5 1.3 0.3 0.4
Settlements and curtailments — — (1.3) — — —
Acquisitions, divestitures, adjustments — — — 10.8 — —
Benefi ts, expenses, taxes and premiums
paid from plan assets (24.8) (20.2) (20.3) (16.5) (3.5) (3.2)
Fair value of plan assets at end of year $430.5 $376.0 $281.8 $242.1 $— $—
Funded status $ (10.0) $ (41.5) $ (13.0) $ (42.2) $(105.3) $(101.8)
Unrecognized net actuarial loss 70.8 61.2 14.3
Unrecognized prior service cost 5.8 1.8 (0.1)
Unrecognized net transition obligation — — —
Prepaid (accrued) benefi t cost $ 35.1 $ 20.8 $ (87.6)
Amounts recognized in the Balance Sheet
consist of:
Other assets, net $ 79.2 $ 48.8 $—
Other accrued liabilities (11.3) (4.6) (3.1)
Other noncurrent liabilities (77.9) (57.2) (102.2)
Funded status (10.0) (13.0) (105.3)
Accumulated other comprehensive income 53.4 35.3 10.0
Net amount recognized $ 43.4 $ 22.3 $ (95.3)
Prepaid benefi t cost $ 88.3 $ 78.0 $ —
Accrued benefi t liability (61.9) (58.6) (87.6)
Intangible asset 0.5 0.3 —
Minimum pension liability 8.2 1.1 —
Net amount recognized $ 35.1 $ 20.8 $ (87.6)
200
7
$
417.5
1
8.4
25
.
0
—
4
.4
—
(
24.8
)
—
—
—
—
$
440.5
$
376.0
5
4.
0
—
2
5.
3
—
—
—
(
24.8
)
$
430.5
$
(10.0)
$
79.2
(
11.3
)
(
77.9
)
(
10.0
)
53
.4
$
43.4
200
7
$
284.3
1
6.2
1
2.
8
1
.5
(
10.2
)
1
1.
9
(
20.3
)
—
1
.
6
(
1.7
)
(
1.3
)
$
294.8
$
242.1
26
.1
9
.7
2
4.
0
1
.
5
(
1.3
)
—
(
20.3
)
$
281.8
$
(13.0)
$
48.8
(
4.6
)
(
57.2
)
(
13.0
)
35
.
3
$
22.3
200
7
$
101.8
4
.1
5
.
9
0
.
3
(
4.0
)
0
.7
(
3.5
)
—
—
—
—
$
105.3
$
—
—
—
3
.
2
0
.
3
—
—
(
3.5
)
$
—
$
(105.3)
$
—
(
3.1
)
(
102.2
)
(
105.3
)
10
.
0
$
(95.3)
76 THE EST{E LAUDER COMPANIES INC.