Estee Lauder 2009 Annual Report Download - page 144
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Plan Summaries
The signifi cant components of the above mentioned plans as of and for the years ended June 30 are summarized
as follows:
Other than
Pension Plans Pension Plans
U.S. International Post-retirement
2009 2008 2009 2008 2009 2008
(In millions)
Change in benefi t obligation:
Benefi t obligation at beginning of year $432.6 $440.5 $404.4 $294.8 $ 110.4 $ 105.3
Service cost 20.9 19.7 16.3 17.1 3.6 3.8
Interest cost 28.1 26.2 18.1 15.1 7.6 6.2
Plan participant contributions — — 2.4 1.9 0.6 0.4
Actuarial loss (gain) 17.3 (13.1) 1.4 (13.2) 7.2 (2.0)
Foreign currency exchange rate impact — — (43.9) 26.3 (1.6) 0.6
Benefi ts, expenses, taxes and premiums paid (29.3) (42.8) (19.9) (19.8) (5.0) (3.9)
Plan amendments — 2.1 0.8 31.9 — —
Special termination benefi ts — — 2.4 1.2 — —
Acquisitions, divestitures, adjustments — — 1.2 51.8 — —
Settlements and curtailments — — (3.9) (2.7) — —
Benefi t obligation at end of year $469.6 $432.6 $379.3 $404.4 $ 122.8 $ 110.4
Change in plan assets:
Fair value of plan assets at beginning of year $420.0 $430.5 $345.7 $281.8 $— $—
Actual return on plan assets (29.3) (0.4) (31.2) (18.9) — —
Foreign currency exchange rate impact — — (37.1) 20.6 — —
Employer contributions 25.1 32.7 41.8 35.3 4.4 3.5
Plan participant contributions — — 2.4 1.9 0.6 0.4
Settlements and curtailments — — (3.9) (2.7) — —
Acquisitions, divestitures, adjustments — — 1.2 47.5 — —
Benefi ts, expenses, taxes and premiums paid
from plan assets (29.3) (42.8) (19.9) (19.8) (5.0) (3.9)
Fair value of plan assets at end of year $386.5 $420.0 $299.0 $345.7 $— $—
Funded status $ (83.1) $ (12.6) $ (80.3) $ (58.7) $(122.8) $(110.4)
Amounts recognized in the Balance Sheet
consist of:
Other assets $ 2.2 $ 71.9 $ 6.6 $ 23.7 $— $—
Other accrued liabilities (7.6) (6.3) (4.8) (4.6) (4.6) (3.6)
Other noncurrent liabilities (77.7) (78.2) (82.1) (77.8) (118.2) (106.8)
Funded status (83.1) (12.6) (80.3) (58.7) (122.8) (110.4)
Accumulated other comprehensive loss 149.7 72.1 120.4 81.6 15.0 8.0
Net amount recognized $ 66.6 $ 59.5 $ 40.1 $ 22.9 $(107.8) $(102.4)
THE EST{E LAUDER COMPANIES INC. 143