Black & Decker 2015 Annual Report Download - page 101

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87
The amounts in Accumulated other comprehensive loss expected to be recognized as components of net periodic benefit costs
during 2016 total $17.3 million, representing amortization of actuarial losses.
The changes in the pension and other post-retirement benefit obligations, fair value of plan assets, as well as amounts
recognized in the Consolidated Balance Sheets, are shown below.
U.S. Plans Non-U.S. Plans Other Benefits
(Millions of Dollars) 2015 2014 2015 2014 2015 2014
Change in benefit obligation
Benefit obligation at end of prior year.................. $ 1,460.5 $ 1,315.9 $ 1,540.4 $ 1,517.6 $ 69.8 $ 75.1
Service cost ........................................................... 7.0 8.9 14.4 13.1 0.5 1.0
Interest cost ........................................................... 54.0 56.4 46.8 59.3 2.1 2.7
Settlements/curtailments....................................... ——(8.0)(7.1)——
Actuarial (gain) loss.............................................. (45.8) 178.3 (86.7)168.6 (2.1)1.7
Plan amendments .................................................. 5.8 0.1 0.2 0.2 ——
Foreign currency exchange rates........................... ——(76.2)(132.7)(1.5)(1.0)
Participant contributions ....................................... ——0.3 0.3 ——
Expenses paid from assets and other..................... (3.4) (4.7)(1.3)(4.8)——
Benefits paid ......................................................... (92.4) (94.4)(55.7)(74.1)(7.8)(9.7)
Benefit obligation at end of year........................... $ 1,385.7 $ 1,460.5 $ 1,374.2 $ 1,540.4 $ 61.0 $ 69.8
Change in plan assets
Fair value of plan assets at end of prior year ........ $ 1,174.1 $ 1,052.9 $ 1,115.7 $ 1,075.9 —$ —
Actual return on plan assets .................................. (19.3) 116.1 8.3 169.2 ——
Participant contributions ....................................... ——0.3 0.3 ——
Employer contributions......................................... 22.5 104.2 35.5 41.1 7.8 9.7
Settlements............................................................ ——(6.4)(5.2)——
Foreign currency exchange rate changes .............. ——(48.2)(86.0)——
Expenses paid from assets and other..................... (3.4) (4.7)(2.2)(5.5)——
Benefits paid ......................................................... (92.4) (94.4)(55.7)(74.1)(7.8)(9.7)
Fair value of plan assets at end of plan year ......... $ 1,081.5 $ 1,174.1 $ 1,047.3 $ 1,115.7 $ — $ —
Funded status — assets less than benefit
obligation .............................................................. $ (304.2) $(286.4)$(326.9)$(424.7)$(61.0)$(69.8)
Unrecognized prior service cost (credit)............... 9.1 5.1 2.3 3.2 (6.6)(7.9)
Unrecognized net actuarial loss ............................ 255.8 214.7 233.5 298.7 1.4 3.6
Unrecognized net transition obligation................. ——0.1 0.1 ——
Net amount recognized ......................................... $ (39.3) $(66.6)$(91.0)$(122.7)$(66.2)$(74.1)