Graco 2010 Annual Report Download - page 69

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Newell Rubbermaid Inc. 2010 Annual Report
>
NEWELL RUBBERMAID 2010 Annual Report 65
The Company’s matching contributions to the contributory 401(k) plan were $12.9 million, $14.0 million and $15.9 million for
2010, 2009 and 2008, respectively.
Defined Benefit Pension Plans
The following provides a reconciliation of benefit obligations, plan assets and funded status of the Company’s noncontributory
defined benefit pension plans, including the SERP, as of December 31, (in millions, except percentages):
U.S. International
2010 2009 2010 2009
Change in benefit obligation:
Benefit obligation at beginning of year $ 910.8 $ 863.7 $ 499.8 $ 391.6
Service cost 4.0 4.8 4.8 4.9
Interest cost 50.6 52.1 26.6 24.5
Actuarial (gain) loss 67.2 49.3 (2.2) 71.6
Currency translation — — (19.9) 35.0
Benefits paid (63.0) (59.1) (31.7) (22.5)
Curtailments, settlement costs and other — — 5.2 (5.3)
Benefit obligation at end of year $ 969.6 $ 910.8 $ 482.6 $ 499.8
Change in plan assets:
Fair value of plan assets at beginning of year $ 576.9 $ 492.4 $ 410.6 $ 362.9
Actual return on plan assets 59.0 60.9 33.9 11.2
Acquisitions — — — —
Contributions 62.1 82.7 21.3 21.0
Currency translation — — (13.7) 36.5
Benefits paid (63.0) (59.1) (31.7) (22.5)
Settlement charges and other — — 5.9 1.5
Fair value of plan assets at end of year $ 635.0 $ 576.9 $ 426.3 $ 410.6
Funded status at end of year $ (334.6) $ (333.9) $ (56.3) $ (89.2)
Amounts recognized in the Consolidated Balance Sheets:
Prepaid benefit cost, included in other assets $ — $ — $ 19.4 $ 3.5
Accrued current benefit cost, included in
other accrued liabilities (7.7) (11.7) (4.0) (4.0)
Accrued noncurrent benefi t cost, included in
other noncurrent liabilities (326.9) (322.2) (71.7) (88.7)
Total $ (334.6) $ (333.9) $ (56.3) $ (89.2)
Amounts recognized in AOCI:
Prior service cost $ (10.2) $ (11.5) $ — $ —
Net loss (576.5) (522.0) (61.6) (81.2)
AOCI, pretax $ (586.7) $ (533.5) $ (61.6) $ (81.2)
Accumulated benefit obligation $ 964.1 $ 904.2 $ 474.3 $ 489.1
U.S. International
2010 2009 2010 2009
Weighted-average assumptions used to determine benefit obligation:
Discount rate 5.25% 5.75% 5.37% 5.68%
Long-term rate of compensation increase 2.70% 3.00% 4.16% 4.20%