Harman Kardon 2009 Annual Report Download - page 104
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Harman International Industries, Incorporated and Subsidiaries
(Dollars in thousands, except per-share data and unless otherwise indicated)
Summary Plan Results
The following is a reconciliation of the benefit obligations, plan assets and funded status of the plans as well
as the amounts recognized on the balance sheet as of and for the years ended June 30, 2009 and 2008:
Year Ended June 30,
2009 2008
Change in benefit obligation:
Benefit obligation at beginning of year ......................... $130,674 $ 120,058
Service cost ............................................... 2,185 2,529
Interest cost ............................................... 7,449 7,153
Amendments .............................................. — 9,891
Actuarial loss/(gain) ........................................ 4,671 (9,946)
Asset transfer ............................................. — —
Curtailment ............................................... 805 —
Benefits paid .............................................. (9,879) (8,464)
Foreign currency exchange rate changes ........................ (7,015) 9,453
Benefit obligation at end of year .................................. $128,890 $ 130,674
Change in plan assets:
Fair value of assets at beginning of year ........................ — —
Asset transfer ............................................. — —
Employer contributions ..................................... $ 9,879 $ 8,464
Benefits paid .............................................. (9,879) (8,464)
Foreign currency exchange rate changes ........................ — —
Fair value of assets at end of year ................................. $ — $ —
Reconciliation of funded status:
Funded status ............................................. $(128,890) $(130,674)
Unrecognized prior service cost ............................... 11,485 13,252
Unrecognized net loss ....................................... 10,394 5,517
Accrued pension cost ........................................... $(107,011) $(111,905)
Accrued liabilities .......................................... $ (7,703) $ (9,216)
Other non-current liabilities .................................. (121,187) (121,458)
Accumulated other comprehensive income ...................... 21,879 18,769
Accrued pension cost ........................................... $(107,011) $(111,905)
Amounts recognized in accumulated other comprehensive income for the years ended June 30, 2009 and
2008 are as follows:
Year Ended June 30,
2009 2008
Amounts recorded in accumulated other comprehensive income
Prior service cost .............................................. $11,485 $13,252
Net actuarial loss .............................................. 10,394 5,517
21,879 18,769
Income tax benefits related to above items .......................... (8,058) (6,822)
Total recognized in accumulated other comprehensive income ........... $13,821 $11,947
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