Logitech 2013 Annual Report Download - page 180

LOGITECH INTERNATIONAL S.A.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
March 31, 2012
Level 1 Level 2 Level 3 Tota l
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,675 $ — $ — $ 2,675
Equity securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17,513 — — 17,513
Debt securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22,892 — — 22,892
Swiss real estate fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,561 — — 3,561
Hedge fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 3,167 — 3,167
Commodity fund. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 590 — — 590
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 271 — 271
Total plan assets at fair value . . . . . . . . . . . . . . . . . . . . . . $ 47,231 $3,438 $ — $50,669
The funded status of the defined benefit pension plans is the fair value of plan assets 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 $40.3 million and $42.7 million as of
March 31, 2013 and 2012. Amounts recognized on the balance sheet for the plans were as follows (in thousands):
March 31,
2013 2012
Current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ —
$ 752
Current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4,351) (4,129)
Non-current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (35,963) (39,337)
Net liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(40,314) $(42,714)
Amounts recognized in accumulated other comprehensive loss related to defined benefit pension plans were
as follows (in thousands):
March 31,
2013 2012 2011
Net prior service cost................................. $ (2,307) $ (1,918) $ (2,084)
Net actuarial loss .................................... (18,308) (28,172) (16,714)
Amortization of net transition obligation ................. (16) (24) (34)
Accumulated other comprehensive loss .................. (20,631) (30,114) (18,832)
Deferred tax benefit.................................. 315 752 759
Accumulated other comprehensive loss, net of tax.......... $(20,316) $(29,362) $(18,073)
Note 4 — Employee Benefit Plans (Continued)
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