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RETIREMENT PLANS (Tables)
12 Months Ended
Sep. 28, 2012
Schedule Of Funded Status Of The Defined Benefit Pension And Post-Retirement Benefit Plans

The following table presents the funded status of the defined benefit pension and post-retirement benefit plans:

 

     Defined Benefit
Plans
    Post-
Retirement
Benefit Plan
 
(In millions)    September 28,
2012
    September 30,
2011
    September 28,
2012
    September 30,
2011
 

Change in benefit obligation:

        

Benefit obligation—beginning of fiscal year

   $ 160.5      $ 141.1      $ 5.9      $ 5.9   

Service cost

     4.3        3.7        0.0        0.0   

Interest cost

     5.3        5.0        0.3        0.2   

Plan participants’ contributions

     5.3        6.7        0.0        0.0   

Plan settlement

     (2.5     0.0        0.0        0.0   

Plan curtailment

     (0.2     0.0        0.0        0.0   

Actuarial (gain) loss

     14.5        4.6        (0.1     0.3   

Foreign currency changes

     (2.4     5.4        0.0        0.0   

Benefit and expense payments

     (3.7     (6.0     (0.5     (0.5
  

 

 

   

 

 

   

 

 

   

 

 

 

Benefit obligation—end of fiscal year

   $ 181.1      $ 160.5      $ 5.6      $ 5.9   
  

 

 

   

 

 

   

 

 

   

 

 

 

Change in plan assets:

        

Plan assets—beginning of fiscal year

   $ 125.5      $ 113.1      $ 0.0      $ 0.0   

Employer contributions

     9.6        7.4        0.5        0.5   

Actual return on plan assets

     9.8        (0.1     0.0        0.0   

Plan participants’ contributions

     5.3        6.7        0.0        0.0   

Plan settlement

     (2.5     0.0        0.0        0.0   

Foreign currency changes

     (1.4     4.4        0.0        0.0   

Benefit and expense payments

     (3.7     (6.0     (0.5     (0.5
  

 

 

   

 

 

   

 

 

   

 

 

 

Plan assets—end of fiscal year

   $ 142.6      $ 125.5      $ 0.0      $ 0.0   
  

 

 

   

 

 

   

 

 

   

 

 

 

Funded status

   $ (38.5   $ (35.0   $ (5.6   $ (5.9
  

 

 

   

 

 

   

 

 

   

 

 

 

Amounts recognized within the consolidated balance sheet:

        

Current liabilities

   $ 0.0      $ (0.1   $ (0.5   $ (0.5

Noncurrent liabilities

     (38.5     (34.9     (5.1     (5.4
  

 

 

   

 

 

   

 

 

   

 

 

 

Net amount recognized

   $ (38.5   $ (35.0   $ (5.6   $ (5.9
  

 

 

   

 

 

   

 

 

   

 

 

 
Schedule Of Amounts Recognized In Accumulated Other Comprehensive Loss (Before Tax)

The following table presents the amounts recognized in accumulated other comprehensive loss (before tax):

 

     Defined Benefit
Plans
    Post-
Retirement
Benefit Plan
 
(In millions)    September 28,
2012
    September 30,
2011
    September 28,
2012
    September 30,
2011
 

Prior service cost

   $ (0.4   $ (0.6   $ 0.0      $ 0.0   

Net gain (loss)

     (59.7     (53.3     (0.4     (0.6
  

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated other comprehensive loss

   $ (60.1   $ (53.9   $ (0.4   $ (0.6
  

 

 

   

 

 

   

 

 

   

 

 

 
Schedule Of Defined Benefit Pension Plan Balances With Accumulated Benefit Obligation Exceeded Fair Value Of Plan Assets

The following table presents the total fair value of plan assets, projected benefit obligation and accumulated benefit obligation for those defined benefit pension plans where accumulated benefit obligation exceeded the fair value of plan assets:

 

     Defined Benefit
Plans
 
(In millions)    September 28,
2012
     September 30,
2011
 

Projected benefit obligation

   $ 76.4       $ 65.6   

Accumulated benefit obligation

   $ 71.1       $ 61.5   

Fair value of plan assets

   $ 62.9       $ 51.6   
Schedule Of Net Periodic Benefit Costs

The following table shows the components of the Company’s net periodic benefit costs and the other amounts recognized in other comprehensive (income) loss, before tax, related to the Company’s defined benefit pension plans and the Company’s post-retirement benefit plan:

 

     Defined Benefit Plans     Post-Retirement
Benefit Plan
 
     Fiscal Years     Fiscal Years  
(In millions)    2012     2011     2010     2012     2011     2010  

Net Periodic Benefit Costs:

            

Service cost

   $ 4.3      $ 3.7      $ 2.4      $ 0.0      $ 0.0      $ 0.0   

Interest cost

     5.3        5.0        4.9        0.2        0.2        0.3   

Gain (Loss) due to settlement or curtailment

     0.9        0.0        0.0        0.0        0.0        0.0   

Expected return on assets

     (5.3     (4.9     (4.8     0.0        0.0        0.0   

Amortization of transition obligation

     0.0        0.0        0.0        0.0        0.0        0.1   

Amortization of prior service cost

     0.2        0.1        0.1        0.0        0.0        0.0   

Recognized actuarial loss

     2.5        2.1        1.7        0.1        0.1        0.1   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net periodic benefit cost

     7.9        6.0        4.3        0.3        0.3        0.5   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Other Amounts Recognized in Other Comprehensive (Income) Loss:

            

Net (gain) loss arising during the year

     9.9        9.6        9.1        (0.1     0.3        (0.1

Amortization of transition obligation

     0.0        0.0        0.0        0.0        0.0        (0.1

Amortization of prior service cost

     (0.2     (0.1     (0.1     0.0        0.0        0.0   

Amortization, settlement and curtailment of net actuarial loss

     (3.5     (2.1     (1.7     (0.1     (0.1     (0.1
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total recognized in other comprehensive (income) loss

     6.2        7.4        7.3        (0.2     0.2        (0.3
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total recognized in net periodic benefit cost and other comprehensive loss

   $ 14.1      $ 13.4      $ 11.6      $ 0.1      $ 0.5      $ 0.2   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Schedule of Accumulated Other Comprehensive Income (Loss) Expected to be Recognized as Components of Net Periodic Benefit Cost

The amounts in “Accumulated other comprehensive loss” that are expected to be recognized as components of net periodic benefit cost during fiscal year 2013 are as follows:

 

(In millions)    Defined
Benefit

Plans
    Post-Retirement
Benefit Plan
    Total  

Prior service cost

   $ (0.1   $ 0.0      $ (0.1

Net loss

     (2.7     (0.1     (2.8
  

 

 

   

 

 

   

 

 

 
   $ (2.8   $ (0.1   $ (2.9
  

 

 

   

 

 

   

 

 

 
Schedule of Assumptions Used to Determine Net Periodic Benefit Cost

The assumptions used to determine net periodic benefit cost and to compute the expected long-term return on assets for the Company’s defined benefit pension and post-retirement benefit plans were as follows:

 

     Fiscal Years  
Net Periodic Benefit Cost        2012             2011             2010      

Defined benefit plans:

      

Discount rates

     3.38     3.45     4.17

Rates of compensation increase

     2.48     2.44     2.99

Expected long-term return on assets

     4.02     4.13     4.87

Post-retirement benefit plan:

      

Discount rate

     3.90     4.40     5.30
Schedule Of Assumptions Used To Measure Benefit Obligations For Company's Defined Benefit Pension And Post Retirement Benefit Plans

The assumptions used to measure the benefit obligations for the Company’s defined benefit pension and post-retirement benefit plans were as follows:

 

Benefit Obligations    September 28,
2012
    September 30,
2011
 

Defined benefit plans:

    

Discount rates

     2.94     3.38

Rates of compensation increase

     2.37     2.48

Post-retirement benefit plan:

    

Discount rate

     3.00     3.90
Schedule Of Assumed Healthcare Cost Trend Rates For Post-Retirement Benefit Plan

The assumed healthcare cost trend rates for the post-retirement benefit plan are as follows:

 

     Fiscal Years  
Assumed Healthcare Cost Trend Rates        2012             2011             2010      

Post-retirement benefit plan:

      

Current medical cost trend rate

     9.9     11.2     10.5

Ultimate medical cost trend rate

     4.5     4.5     4.5
Schedule Of Fair Values Of Plan Assets

The following table presents the Company’s defined benefit pension plans’ major asset categories, their associated fair values, as well as the actual allocation of equity, debt and fixed income, real estate and all other types of investments:

 

(In millions)    Quoted Prices in
Active Markets

for Identical Assets
(Level 1)
     Significant
Observable Inputs
(Level 2)
     Significant
Unobservable
Inputs

(Level 3)
     Total  

As of September 28, 2012:

           

Investment funds:

           

Mutual funds—equities

   $ 0.0       $ 40.3       $ 0.0       $ 40.3   

Mutual funds—debt

     0.0         23.2         0.0         23.2   

Mutual funds—real estate

     0.0         3.5         0.0         3.5   

Assets held by insurance company:

           

Insurance contracts

     0.0         73.3         0.0         73.3   

Cash and cash equivalents

     2.3         0.0         0.0         2.3   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 2.3       $ 140.3       $ 0.0       $ 142.6   
  

 

 

    

 

 

    

 

 

    

 

 

 

As of September 30, 2011:

           

Debt securities:

           

Corporate debt securities

   $ 0.1       $ 0.0       $ 0.0       $ 0.1   

Investment funds:

           

Mutual funds—equities

     0.0         32.4         0.0         32.4   

Mutual funds—debt

     0.0         20.6         0.0         20.6   

Mutual funds—real estate

     0.0         3.2         0.0         3.2   

Assets held by insurance company:

           

Insurance contracts

     0.0         67.9         0.0         67.9   

Cash and cash equivalents

     1.3         0.0         0.0         1.3   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 1.4       $ 124.1       $ 0.0       $ 125.5   
  

 

 

    

 

 

    

 

 

    

 

 

 
Schedule Of Estimated Future Benefit Payments

Estimated future benefit payments at September 28, 2012 were as follows:

 

(In millions)    Defined Benefit
Plans
     Post-Retirement
Benefit Plan
     Total  

Fiscal Years:

        

2013

   $ 3.5       $ 0.5       $ 4.0   

2014

     4.4         0.5         4.9   

2015

     4.0         0.5         4.5   

2016

     4.4         0.5         4.9   

2017

     4.8         0.5         5.3   

2018-2022

     28.4         2.1         30.5   
  

 

 

    

 

 

    

 

 

 
   $ 49.5       $ 4.6       $ 54.1