Sunbeam 2011 Annual Report Download - page 63

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61
Notes to Consolidated Financial Statements
Jarden Corporation Annual Report 2011 (Dollars in millions, except per share data and unless otherwise indicated)
Net Periodic Expense
The components of net periodic pension and postretirement benefit expense for 2011, 2010 and 2009 are as follows:
The amount of AOCI expected to be recognized in net periodic benefit cost for the year ending December 31, 2012 is as follows:
Pension Benefits
2011 2010 2009
(In millions) Domestic Foreign Total Domestic Foreign Total Domestic Foreign Total
Service cost $ 0.2 $ 1.9 $ 2.1 $ 0.2 $ 1.6 $ 1.8 $ 0.2 $ 0.9 $ 1.1
Interest cost 15.9 2.8 18.7 17.6 2.5 20.1 18.4 1.8 20.2
Expected return on plan assets (15.6) (1.4) (17.0) (13.6) (1.2) (14.8) (12.5) (0.9) (13.4)
Amortization:
Net actuarial loss 3.2 — 3.2 3.3 — 3.3 4.8 — 4.8
Net periodic cost 3.7 3.3 7.0 7.5 2.9 10.4 10.9 1.8 12.7
Curtailments and settlements 1.6 — 1.6 1.9 (0.1) 1.8 0.5 0.1 0.6
Total expense $ 5.3 $ 3.3 $ 8.6 $ 9.4 $ 2.8 $ 12.2 $ 11.4 $ 1.9 $ 13.3
Assumptions
Weighted average assumption used to calculate net periodic cost:
Discount rate 5.25% 4.78% 5.18% 5.79% 5.12% 5.69% 6.19% 5.57% 6.13%
Expected return on plan assets 8.00% 4.83% 7.63% 8.21% 5.16% 7.87% 8.18% 5.19% 7.94%
Rate of compensation increase — 2.98% 2.98% — 2.98% 2.98% — 2.95% 2.95%
Pension Benefits
(In millions) Domestic Foreign Total Postretirement
Prior service cost $ — $ — $ — $ 0.4
Net actuarial loss (gain) 7.0 (0.1) 6.9 0.1
$ 7.0 $ (0.1) $ 6.9 $ 0.5
Postretirement Benefits
(In millions) 2011 2010 2009
Service cost $ 0.3 $ 0.3 $ 0.1
Interest cost 0.7 0.7 0.5
Amortization:
Prior service benefit (0.8) (0.8) (0.8)
Net actuarial gain (0.1) — (0.1)
Net periodic cost (credit) 0.1 0.2 (0.3)
Curtailments and settlements (7.3) — —
Total expense (credit) $ (7.2) $ 0.2 $ (0.3)
Assumptions
Weighted average assumption used to calculate net periodic cost:
Discount rate 5.50% 5.96% 6.25%