Logitech 2010 Annual Report Download - page 209

ANNUAl REPORT
197
The funded status of the defined benefit pension plans is the fair value of plan assets as determined by the
governmental regulatory agency less benefit obligations. The funded status of the non-retirement post-employment
benefits is the fair value of the benefit obligations. Projected benefit obligations exceeded plan assets for all plans
by $22.1 million and $24.7 million as of March 31, 2010 and 2009. Amounts recognized on the balance sheet for the
plans were as follows (in thousands):
March 31,
2010 2009
Current assets ................................................ $936 $990
Current liabilities ............................................. (2,761)(4,899)
Non-current liabilities ......................................... (19,343)(19,822)
Net liability .................................................. $(21,168) $ (23,731)
Amounts recognized in other comprehensive income related to defined benefit pension plans were as follows
(in thousands):
March 31,
2010 2009
Net prior service cost .......................................... $ 2,075 $2,077
Net actuarial loss ............................................. 9,641 14,000
Amortization of net transition obligation ........................... 33 35
Accumulated other comprehensive income ......................... 11,749 16,112
Deferred tax benefit ........................................... (936)(990)
Accumulated other comprehensive loss, net of tax . . . . . . . . . . . . . . . . . . . $ 10,813 $15,122
Changes in accumulated other comprehensive loss related to the defined benefit pension plans were as follows
(in thousands):
March 31,
2010 2009
Accumulated other comprehensive loss, beginning of year . . . . . . . . . . . . $ 15,122 $9,067
Transition obligation recognized . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4)(5)
Prior service cost recognized .................................... (120) —
Loss recognized .............................................. (1,276)(415)
Settlement/curtailment loss recognized ............................ —(6,225)
Prior service cost occurred ...................................... —2,443
(Gain) loss occurred ........................................... (4,143)10,812
Deferred tax expense (benefit) ................................... 122 (182)
Foreign currency exchange rate changes . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,112 (373)
Accumulated other comprehensive loss, end of year .................. $10,813 $15,122