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Pension plans with a benefit obligation in excess of plan assets at December 31:
Benefit
Obligation
Plan
Assets
Benefit
Obligation
Plan
Assets
2008 2007
Plans with projected benefit obligation in excess of
plan assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $664.5 $391.8 $664.6 $597.7
Plans with accumulated benefit obligation in excess of
plan assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 661.0 391.6 659.9 597.5
Components of net periodic benefit cost:
2008 2007 2006 2008 2007 2006
Pension Benefits
Other Postretirement
Benefits
Net Periodic Benefit Cost:
Service cost . . . . . . . . . . . . . . . . . . . . . . . $ 3.5 $ 2.6 $ 7.9 $ 1.5 $ 1.7 $ 1.8
Interest cost . . . . . . . . . . . . . . . . . . . . . . . 45.0 42.3 42.0 2.7 2.5 2.5
Expected return on plan assets . . . . . . . . (50.0) (48.8) (49.2) — — —
Amortization of prior service cost
(credit) . . . . . . . . . . . . . . . . . . . . . . . . . — — — (3.9) (4.0) (3.8)
Amortization of net loss . . . . . . . . . . . . . . 11.2 15.1 17.2 0.5 0.9 1.0
Settlement, curtailment or special
termination (gains) losses . . . . . . . . . . . 1.7 2.0 (5.4) (0.3) 0.1 (0.1)
Net periodic benefit cost . . . . . . . . . . . . . . . $ 11.4 $ 13.2 $ 12.5 $ 0.5 $ 1.2 $ 1.4
Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive
income (“AOCI”) (pre-tax) for the year ended December 31, 2008:
Pension
Benefits
Other
Postretirement
Benefits
Net loss (gain) arising during the period . . . . . . . . . . . . . . . . . . . . . . . . . $221.1 $(4.6)
Effect of foreign currency exchange rate changes on amounts included
in AOCI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5.0) —
Less amounts recognized as a component of net periodic benefit cost:
Amortization or settlement recognition of net loss . . . . . . . . . . . . . . . . (11.2) (0.5)
Amortization or curtailment recognition of prior service cost (credit) . . . — 4.2
Total amount recognized in AOCI for the period . . . . . . . . . . . . . . . . . . . 204.9 (0.9)
Total amount recognized in net periodic benefit cost and AOCI for the
period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $216.3 $(0.4)
The estimated net loss for the defined benefit pension plans that will be amortized from Accumulated other
comprehensive earnings (loss) into net periodic benefit cost over the next fiscal year is $15 million. The
estimated prior service credit for the other defined benefit postretirement plans that will be amortized from
Accumulated other comprehensive earnings (loss) into net periodic benefit cost over the next fiscal year is
$4 million.
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