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PENSION AND POST-RETIREMENT BENEFIT PLANS
3 Months Ended
Sep. 30, 2011
PENSION AND POST-RETIREMENT BENEFIT PLANS 
PENSION AND POST-RETIREMENT BENEFIT PLANS

NOTE 6 — PENSION AND POST-RETIREMENT BENEFIT PLANS

 

The Company maintains pension plans covering substantially all of its full-time employees for its U.S. operations and a majority of its international operations.  The Company also maintains post-retirement benefit plans which provide certain medical and dental benefits to eligible employees.  Descriptions of these plans are discussed in the notes to consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended June 30, 2011.

 

The components of net periodic benefit cost for the three months ended September 30, 2011 and 2010 consisted of the following:

 

 

 

 

 

 

 

 

 

 

 

Other than

 

 

 

Pension Plans

 

Pension Plans

 

 

 

U.S.

 

International

 

Post-retirement

 

(In millions)

 

2011

 

2010

 

2011

 

2010

 

2011

 

2010

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

6.9

 

$

6.4

 

$

5.9

 

$

5.1

 

$

0.9

 

$

0.9

 

Interest cost

 

7.4

 

7.0

 

4.9

 

4.7

 

2.1

 

1.9

 

Expected return on plan assets

 

(9.7

)

(8.7

)

(5.4

)

(5.3

)

(0.3

)

(0.1

)

Amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior service cost

 

0.2

 

0.2

 

1.0

 

0.5

 

 

 

Actuarial loss

 

2.0

 

2.4

 

1.2

 

1.4

 

0.5

 

0.5

 

Net periodic benefit cost

 

$

6.8

 

$

7.3

 

$

7.6

 

$

6.4

 

$

3.2

 

$

3.2

 

 

During the three months ended September 30, 2011, the Company made contributions to its international pension plans totaling approximately $4 million.