Estee Lauder 2003 Annual Report Download - page 74

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THEEST{E LAUDER COMPANIES INC.73
The significant components of the above mentioned plans as of and for the year ended June 30 are summarized as follows:
Other than
Pension Plans Pension Plans
2003 2002 2003 2002 2003 2002
(In millions)
Change in benefit obligation:
Benefit obligation at beginning of year $310.3 $ 280.4 $154.7 $131.5 $43.7 $ 43.2
Service cost 15.1 13.5 8.5 7.9 2.2 1.8
Interest cost 21.2 20.6 8.1 7.2 3.2 2.9
Plan participant contributions ——1.1 0.9 0.1 0.1
Actuarial loss (gain) 19.8 10.8 18.9 3.6 14.5 (1.9)
Foreign currency exchange rate impact ——15.0 13.8 ——
Benefits paid (11.5) (14.9) (6.0) (10.2) (1.9) (1.9)
Plan amendments 3.8 (0.1) ———(0.5)
Settlements and curtailments ——(9.3) ———
Benefit obligation at end of year 358.7 310.3 191.0 154.7 61.8 43.7
Change in plan assets:
Fair value of plan assets at beginning of year 201.8 179.7 116.3 104.6 ——
Actual return on plan assets 9.3 (9.5) (13.2) (0.9) ——
Foreign currency exchange rate impact ——9.9 10.5 ——
Employer contributions 77.8 46.5 16.4 11.4 1.8 1.8
Plan participant contributions ——1.1 0.9 0.1 0.1
Settlements and curtailments ——(3.6) ———
Benefits paid from plan assets (11.5) (14.9) (6.0) (10.2) (1.9) (1.9)
Fair value of plan assets at end of year 277.4 201.8 120.9 116.3 ——
Funded status (81.3) (108.5) (70.1) (38.4) (61.8) (43.7)
Unrecognized net actuarial loss (gain) 128.1 104.4 73.4 37.2 6.4 (8.1)
Unrecognized prior service cost 7.6 4.0 2.4 2.5 (0.2) (0.2)
Unrecognized net transition (asset) obligation —(1.5) 0.3 0.6 ——
Prepaid (accrued) benefit cost $54.4 $(1.6) $6.0 $ 1.9 $(55.6) $(52.0)
Amounts recognized in the Balance Sheets consist of:
Prepaid benefit cost $101.5 $ 39.5 $12.9 $ 10.1 $— $—
Accrued benefit liability (56.4) (47.3) (60.6) (40.1) (55.6)(52.0)
Intangible asset 0.7 0.2 0.5 1.0 ——
Minimum pension liability 8.6 6.0 53.2 30.9 ——
Net amount recognized $54.4 $(1.6) $6.0 $ 1.9 $(55.6)$(52.0)
PostretirementInternationalU.S.