Rayovac 2013 Annual Report Download - page 124

SPECTRUM BRANDS HOLDINGS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)
(Amounts in thousands, except per share figures)
The following table sets forth the fair value of the Company’s pension plan assets as of September 30, 2013
segregated by level within the fair value hierarchy. See Note 8, “Fair Value of Financial Instruments”, for
discussion of the fair value hierarchy and fair value principles:
Level 1 Level 2 Level 3 Total
U.S. Defined Benefit Plan Assets:
Common collective trust—equity ......................... $32,772 $ 9,393 $— $ 42,165
Common collective trust—fixed income .................... — 16,293 — 16,293
Total U.S. Defined Benefit Plan Assets ......................... $32,772 $ 25,686 $— $ 58,458
International Defined Benefit Plan Assets:
Common collective trust—equity ......................... $ — $ 46,521 $— $ 46,521
Common collective trust—fixed income .................... — 15,868 — 15,868
Insurance contracts—general fund ......................... — 37,690 — 37,690
Other ................................................ 6,658 10,289 — 16,947
Total International Defined Benefit Plan Assets .................. $ 6,658 $110,368 $— $117,026
The following table sets forth the fair value of the Company’s pension plan assets as of September 30, 2012
segregated by level within the fair value hierarchy.
Level 1 Level 2 Level 3 Total
U.S. Defined Benefit Plan Assets:
Common collective trust—equity ......................... $20,520 $ 16,667 $— $ 37,187
Common collective trust—fixed income .................... — 14,534 — 14,534
Total U.S. Defined Benefit Plan Assets ......................... $20,520 $ 31,201 $— $ 51,721
International Defined Benefit Plan Assets:
Common collective trust—equity ......................... $ — $ 38,507 $— $ 38,507
Common collective trust—fixed income .................... — 15,661 — 15,661
Insurance contracts—general fund ......................... — 40,651 — 40,651
Other ................................................ — 7,387 — 7,387
Total International Defined Benefit Plan Assets .................. $ — $102,206 $— $102,206
The Company’s Fixed Income Securities portfolio is invested primarily in commingled funds and managed
for overall return expectations rather than matching duration against plan liabilities; therefore, debt maturities are
not significant to the plan performance.
The Company’s Other portfolio consists of all pension assets, primarily insurance contracts, in the United
Kingdom and Germany.
The Company’s expected future pension benefit payments for Fiscal 2014 through its fiscal year 2023 are as
follows:
2014 ............................................................. $ 9,241
2015 ............................................................. 8,536
2016 ............................................................. 10,135
2017 ............................................................. 10,376
2018 ............................................................. 10,924
2019-2023 ......................................................... 62,547
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