Estee Lauder 2012 Annual Report Download - page 151
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THE EST{E LAUDER COMPANIES INC. 149
Plan Summaries
The significant 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
2012 2011 2012 2011 2012 2011
(In millions)
Change in benefit obligation:
Benefit obligation at beginning of year $ 574.1 $545.6 $ 451.3 $ 413.7 $ 156.3 $ 145.0
Service cost 27.7 25.8 22.3 21.5 3.8 3.8
Interest cost 29.8 27.8 18.8 19.5 8.6 7.8
Plan participant contributions — — 3.3 3.1 0.7 0.6
Actuarial loss (gain) 107.2 14.4 52.6 (12.4) 32.7 4.6
Foreign currency exchange rate impact — — (34.1) 58.5 (1.5) 1.5
Benefits, expenses, taxes and premiums paid (32.7) (39.5) (21.7) (30.4) (6.3) (6.2)
Plan amendments — — (8.8) 11.4 6.8 (0.8)
Settlements and curtailments — — (0.3) (33.6) — —
Benefit obligation at end of year $ 706.1 $574.1 $ 483.4 $ 451.3 $ 201.1 $ 156.3
Change in plan assets:
Fair value of plan assets at beginning of year $ 554.7 $478.3 $ 391.3 $ 353.1 $ 15.4 $ 6.0
Actual return on plan assets 41.4 71.6 34.2 20.6 1.2 1.0
Foreign currency exchange rate impact — — (21.6) 43.1 — —
Employer contributions 82.2 44.3 29.7 34.1 15.0 14.0
Plan participant contributions — — 3.4 3.1 0.7 0.6
Settlements — — — (32.3) — —
Benefits, expenses, taxes and premiums paid
from plan assets (32.7) (39.5) (21.7) (30.4) (6.3) (6.2)
Fair value of plan assets at end of year $ 645.6 $554.7 $ 415.3 $ 391.3 $ 26.0 $ 15.4
Funded status $ (60.5) $ (19.4) $ (68.1) $ (60.0) $(175.1) $(140.9)
Amounts recognized in the Balance Sheet
consist of:
Other assets $ 51.1 $ 78.0 $ 41.6 $ 47.3 $— $—
Other accrued liabilities (10.5) (9.6) (3.0) (2.2) (0.3) (0.3)
Other noncurrent liabilities (101.1) (87.8) (106.7) (105.1) (174.8) (140.6)
Funded status (60.5) (19.4) (68.1) (60.0) (175.1) (140.9)
Accumulated other comprehensive loss 219.5 123.3 157.7 143.0 67.2 29.8
Net amount recognized $ 159.0 $103.9 $ 89.6 $ 83.0 $(107.9) $(111.1)