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Notes to Consolidated Financial Statements
Jarden Corporation Annual Report 2010 (Dollars in millions, except per share data and unless otherwise indicated)
Net Periodic Expense
The components of net periodic pension and postretirement benefit expense for 2010, 2009 and 2008 are as follows:
The amount of AOCI expected to be recognized in net periodic benefit cost for the year ending December 31, 2011 is as follows:
Pension Benefits
2010 2009 2008
(In millions) Domestic Foreign Total Domestic Foreign Total Domestic Foreign Total
Service cost $ 0.2 $ 1.6 $ 1.8 $ 0.2 $ 0.9 $ 1.1 $ 0.2 $ 1.0 $ 1.2
Interest cost 17.6 2.5 20.1 18.4 1.8 20.2 18.3 1.9 20.2
Expected return on plan assets (13.6) (1.2) (14.8) (12.5) (0.9) (13.4) (18.5) (1.2) (19.7)
Amortization:
Prior service cost — — — — — — — — —
Net actuarial loss 3.3 — 3.3 4.8 — 4.8 — — —
Net periodic cost 7.5 2.9 10.4 10.9 1.8 12.7 — 1.7 1.7
Curtailments and settlements 1.9 (0.1) 1.8 0.5 0.1 0.6 0.3 (0.1) 0.2
Total expense $ 9.4 $ 2.8 $ 12.2 $ 11.4 $ 1.9 $ 13.3 $ 0.3 $ 1.6 $ 1.9
Assumptions
Weighted average assumption used to calculate net periodic cost:
Discount rate 5.79% 5.12% 5.69% 6.19% 5.57% 6.13% 6.21% 5.37% 6.12%
Expected return on plan assets 8.21% 5.16% 7.87% 8.18% 5.19% 7.94% 8.14% 5.72% 7.94%
Rate of compensation increase — 2.98% 2.98% — 2.95% 2.95% — 4.07% 4.07%
Pension Benefits
(In millions) Domestic Foreign Total Postretirement
Prior service cost $ — $ — $ — $ 0.8
Net actuarial loss (gain) (4.0) — (4.0) 0.1
$ (4.0) $ — $ (4.0) $ 0.9
Postretirement Benefits
(In millions) 2010 2009 2008
Service cost $ 0.3 $ 0.1 $ 0.2
Interest cost 0.7 0.5 1.1
Amortization:
Prior service benefit (0.8) (0.8) (0.8)
Net actuarial gain — (0.1) (0.5)
Net periodic cost (credit) 0.2 (0.3) —
Curtailments and settlements — — (16.2)
Total expense (credit) $ 0.2 $ (0.3) $ (16.2)
Assumptions
Weighted average assumption used to calculate net periodic cost:
Discount rate 5.96% 6.25% 6.25%
Rate of compensation increase —% —% 3.0%
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