Estee Lauder 2013 Annual Report Download - page 167
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Plan Summaries
The significant 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
2013 2012 2013 2012 2013 2012
(In millions)
Change in benefit obligation:
Benefit obligation at beginning of year $706.1 $ 574.1 $483.4 $ 451.3 $ 201.1 $ 156.3
Service cost 33.8 27.7 24.0 22.3 4.3 3.8
Interest cost 26.6 29.8 17.9 18.8 7.8 8.6
Plan participant contributions — — 3.0 3.3 0.9 0.7
Actuarial loss (gain) (61.1) 107.2 14.1 52.6 (36.2) 32.7
Foreign currency exchange rate impact — — (8.7) (34.1) (1.0) (1.5)
Benefits, expenses, taxes and premiums paid (29.4) (32.7) (23.3) (21.7) (7.2) (6.3)
Plan amendments — — — (8.8) — 6.8
Settlements and curtailments — — (4.0) (0.3) — —
Special termination benefits — — 2.2 — — —
Benefit obligation at end of year $676.0 $ 706.1 $508.6 $ 483.4 $ 169.7 $ 201.1
Change in plan assets:
Fair value of plan assets at beginning of year $645.6 $ 554.7 $415.3 $ 391.3 $ 26.0 $ 15.4
Actual return on plan assets 37.4 41.4 36.9 34.2 1.7 1.2
Foreign currency exchange rate impact — — (15.4) (21.6) — —
Employer contributions 6.1 82.2 25.9 29.7 6.3 15.0
Plan participant contributions — — 3.0 3.4 0.9 0.7
Settlements — — (3.8) — — —
Benefits, expenses, taxes and premiums paid
from plan assets (29.4) (32.7) (23.3) (21.7) (7.2) (6.3)
Fair value of plan assets at end of year $659.7 $ 645.6 $438.6 $ 415.3 $ 27.7 $ 26.0
Funded status $ (16.3) $ (60.5) $ (70.0) $ (68.1) $(142.0) $(175.1)
Amounts recognized in the Balance Sheet
consist of:
Other assets $ 94.0 $ 51.1 $ 50.0 $ 41.6 $— $—
Other accrued liabilities (11.9) (10.5) (5.2) (3.0) (6.0) (0.3)
Other noncurrent liabilities (98.4) (101.1) (114.8) (106.7) (136.0) (174.8)
Funded status (16.3) (60.5) (70.0) (68.1) (142.0) (175.1)
Accumulated other comprehensive loss 150.8 219.5 138.0 157.7 26.2 67.2
Net amount recognized $134.5 $ 159.0 $ 68.0 $ 89.6 $(115.8) $(107.9)
20
13
$
706.
1
33.
8
2
6
.
6
—
(
61.1
)
—
(29.4
)
—
—
—
$
676.
0
$
645.
6
3
7.4
—
6
.
1
—
—
(
29.4
)
$
659.
7
$
(16.3
)
$
94.
0
(
11.9
)
(
98.4
)
(
16.3
)
150
.
8
$
134.
5
20
1
3
$
483.
4
2
4.
0
1
7.
9
3
.
0
1
4
.1
(
8.7
)
(23.3
)
—
(
4.0
)
2.2
$
508.
6
$
415.
3
36.
9
(
15.4
)
25.
9
3
.
0
(
3.8
)
(
23.3
)
$
438.
6
$
(70.0
)
$
50.
0
(
5.2
)
(
114.8
)
(
70.0
)
138
.
0
$
68.0
20
1
3
$
201.
1
4.
3
7
.
8
0
.
9
(
36.2
)
(
1.0
)
(7.2
)
—
—
—
$
169.
7
$
26.
0
1
.7
—
6
.
3
0
.
9
—
(
7.2
)
$
27.
7
$
(142.0
)
$
—
(
6.0
)
(
136.0
)
(
142.0
)
2
6
.
2
$
(115.8
)
THE EST{E LAUDER COMPANIES INC. 165