Harman Kardon 2011 Annual Report Download - page 104

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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 in our Consolidated Balance Sheets as of and for the fiscal years ended June 30, 2011
and 2010:
Year Ended June 30,
2011 2010
Change in benefit obligation:
Benefit obligation at beginning of year ............................. $144,331 $ 128,890
Benefit obligation at the beginning of the year of plans not previously
reported(1) .................................................. 7,330 0
Service cost ................................................... 3,292 2,165
Interest cost ................................................... 7,702 7,585
Actuarial (gain)/loss ............................................ (10,286) 23,107
Effects of settlements and curtailments ............................. 0 758
Plan amendments .............................................. 95 0
Benefits paid .................................................. (7,657) (9,598)
Foreign currency translation ...................................... 11,478 (8,576)
Benefit obligation at end of year ...................................... $156,285 $ 144,331
Change in plan assets:
Fair value of assets at beginning of year ............................ $ 0 $ 0
Fair value of assets at beginning of year for plans not previously
reported(1) .................................................. 4,507 0
Actual return on plan assets ...................................... 139 0
Employer contributions ......................................... 7,932 9,598
Benefits paid .................................................. (7,657) (9,598)
Foreign currency translation ...................................... 337 0
Fair value of assets at end of year ...................................... $ 5,258 $ 0
Reconciliation of funded status:
Funded status ................................................. $(151,027) $(144,331)
Unrecognized prior service cost ................................... 8,672 10,078
Unrecognized net loss ........................................... 19,790 31,586
Accrued pension cost ............................................... $(122,565) $(102,667)
Accrued liabilities .............................................. $ (8,913) $ (7,030)
Other non-current liabilities ...................................... (142,114) (137,301)
AOCI ........................................................ 28,462 41,664
Accrued pension cost ............................................... $(122,565) $(102,667)
(1) Certain foreign defined benefit plans were not disclosed in prior years based on the immateriality of amounts
involved in these plans. The above disclosures for fiscal year 2011 include amounts recorded for these plans as
adjustments to the beginning balances for the current year.
Amounts recognized in AOCI for the fiscal years ended June 30, 2011 and 2010 are as follows:
Year Ended June 30,
2011 2010
Amounts recorded in AOCI:
Prior service cost ................................................ $ 8,672 $ 10,078
Net actuarial loss ................................................ 19,790 31,586
Total recognized in AOCI, before taxes ............................... 28,462 41,664
Income tax benefits ............................................... (10,159) (14,244)
Total recognized in AOCI, net of income taxes ......................... $18,303 $ 27,420
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