Pension plans and other postretirement benefits

The Company has several defined benefit pension plans covering substantially all of its employees in the United States (U.S.) and certain employees in other countries. The plans provide retirement benefits based on years of service and on earnings. In the first quarter of fiscal 2013, the Company approved and communicated changes to its U.S. pension plan, which is the most significant of the Company's pension obligations. Effective January 1, 2014, the pension benefit earned to date by active participants under the legacy Energizer U.S. pension plan will be frozen and future service benefits will no longer be accrued under this retirement program. For the three months ended December 31, 2012, the Company recorded a non-cash, pre-tax curtailment gain of $37.4 ($23.5 after-tax) as a result of this plan change. The pension curtailment gain was reported on a separate line in the Consolidated Statements of Earnings and Comprehensive Income (Condensed).

In the fourth quarter of fiscal 2013, the Company finalized and communicated a decision to discontinue certain post-retirement medical and life insurance benefits in the U.S. The communication was provided to all eligible participants of the impacted plans and advised that the Company would discontinue all benefits associated with the impacted plans effective December 31, 2013.

The Company also sponsors or participates in a number of other non-U.S. pension arrangements, including various retirement and termination benefit plans, some of which are required by local law or coordinated with government-sponsored plans, which are not significant in the aggregate and, therefore, are not included in the information presented below.

As a result of the feminine care acquisition, the Company assumed certain pension and post-retirement obligations of approximately $20 related to the plans in place at the manufacturing plant in Montreal, Canada.

As previously disclosed in the third quarter of fiscal 2013, the Company identified an error in how the pension curtailment transactions were recorded in the period ended December 31, 2012. Presentation of amounts were corrected in the third quarter of fiscal 2013. The correction related solely to the reported amount of previously reported Comprehensive Income and had no impact on previously reported consolidated earnings before income taxes, net earnings, earnings per share or consolidated cash flows for any periods presented during fiscal 2013. The Company assessed the materiality of this item on previously issued interim financial statements for fiscal 2013 in accordance with SEC Staff Accounting Bulletin No. 99 and No. 108, and concluded that the corrections were not material to the Condensed Consolidated Financial Statements for the first quarter of fiscal 2013. The Consolidated Statements of Earnings and Comprehensive Income (Condensed) and the Guarantor and Non-Guarantor Financial Information for the period ended December 31, 2012 included herein has been revised. Comprehensive income as previously reported and as revised for the quarter ended December 31, 2012 was $151.8 and $128.3, respectively.

The Company’s net periodic benefit cost for these plans are as follows:



	Pension
	Quarter Ended December 31,
	2013			2012
Service cost	$	3.7		$	7.0
Interest cost	13.8			12.3
Expected return on plan assets	(17.5		)	(17.0		)
Amortization of prior service cost	—			(0.4		)
Amortization of unrecognized net loss	4.7			7.4
Settlement charge	0.1			—
Curtailment gain	—			(37.4		)
Net periodic benefit cost/(income)	$	4.8		$	(28.1	)



	Postretirement
	Quarter Ended December 31,
	2013		2012
Service cost	$	0.5	$	0.2
Interest cost	0.2		0.3
Amortization of prior service cost	—		(0.9		)
Amortization of unrecognized net gain	—		(0.5		)
Net periodic benefit cost	$	0.7	$	(0.9	)