Hertz 2007 Annual Report Download - page 156

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HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
The expected return on plan assets for each funded plan is based on expected future investment returns
considering the target investment mix of plan assets.
Pension Benefits
U.S. Non-U.S
Successor Predecessor Successor Predecessor
Years ended Years ended
December 31, For the periods from December 31, For the periods from
December 21, January 1, December 21, January 1,
2005 to 2005 to 2005 to 2005 to
December 31, December 20, December 31, December 20,
2007 2006 2005 2005 2007 2006 2005 2005
Components of Net
Periodic Benefit
Cost:
Service cost ...... $27.6 $ 28.0 $ 0.7 $ 23.7 $ 10.9 $ 9.5 $ 0.2 $ 6.9
Interest cost ...... 26.4 22.2 0.6 19.0 10.3 8.4 0.2 6.1
Expected return on
plan assets ..... (25.7) (24.0) (0.6) (20.8) (10.9) (8.5) (0.2) (5.4)
Amortization:
Transition ...... — — — — — — — —
Amendments .... — — — 0.5 — — — —
Losses and other . 1.0 — 0.1 3.5 — — 0.1 1.8
Curtailment gain . . (5.1) — — — (0.1) — — —
Settlement loss
(gain) ....... 3.5 — — 1.1 (0.3) — — —
Special termination
cost ........ 4.5 — — — — — — —
Net pension expense $32.2 $ 26.2 $ 0.8 $ 27.0 $ 9.9 $ 9.4 $ 0.3 $ 9.4
Weighted-average
discount rate for
expense (January 1) . 5.70% 5.50% 5.75% 5.75% 4.81% 4.65% 5.14% 5.14%
Weighted-average
assumed long-term
rate of return on
assets (January 1) . . 8.75% 8.75% 8.75% 8.75% 7.22% 6.88% 6.90% 6.90%
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