Hasbro 2011 Annual Report Download - page 82
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HASBRO, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements — (Continued)
(Thousands of Dollars and Shares Except Per Share Data)
Reconciliations of the beginning and ending balances for the projected benefit obligation, the fair value of
plan assets and the funded status are included below for the years ended December 25, 2011 and December 26,
2010.
Pension Postretirement
2011 2010 2011 2010
Change in Projected Benefit Obligation
Projected benefit obligation — beginning ...................... $333,512 306,220 34,492 30,873
Service cost ............................................. 1,729 2,018 685 609
Interest cost ............................................. 16,852 17,014 1,764 1,795
Actuarial loss ............................................ 14,845 28,197 314 2,903
Plan amendment .......................................... — — — 273
Benefits paid ............................................ (19,596) (18,647) (2,059) (1,961)
Expenses paid ............................................ (1,187) (1,290) — —
Projected benefit obligation — ending ........................ $346,155 333,512 35,196 34,492
Accumulated benefit obligation — ending ..................... $346,155 333,512 35,196 34,492
Change in Plan Assets
Fair value of plan assets — beginning ......................... $270,145 250,378 — —
Actual return on plan assets ................................. 11,914 36,321 — —
Employer contribution ..................................... 3,799 3,383 — —
Benefits and settlements paid ............................... (19,596) (18,647) — —
Expenses paid ............................................ (1,187) (1,290) — —
Fair value of plan assets — ending ........................... $265,075 270,145 — —
Reconciliation of Funded Status
Projected benefit obligation ................................. $(346,155) (333,512) (35,196) (34,492)
Fair value of plan assets .................................... 265,075 270,145 — —
Funded status ............................................ (81,080) (63,367) (35,196) (34,492)
Unrecognized net loss ..................................... 104,872 87,553 4,321 4,045
Unrecognized prior service cost ............................. 725 923 244 273
Net amount recognized .................................... $ 24,517 25,109 (30,631) (30,174)
Accrued liabilities ........................................ $ (3,020) (2,940) (2,400) (2,400)
Other liabilities .......................................... (78,060) (60,427) (32,796) (32,092)
Accumulated other comprehensive earnings .................... 105,597 88,476 4,565 4,318
Net amount recognized .................................... $ 24,517 25,109 (30,631) (30,174)
In fiscal 2012, the Company expects amortization of unrecognized net losses and unrecognized prior service
cost related to its defined benefit pension plans of $6,165 and $193, respectively, to be included as a component
of net periodic benefit cost. The Company expects amortization of unrecognized net losses and unrecognized
prior service cost in 2012 related to its postretirement plan of $51 and $29, respectively.
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