Net Periodic Benefit Cost - Defined Benefit Plans

6 Months Ended

Jul. 01, 2011

Net Periodic Benefit Cost - Defined Benefit Plans

Net Periodic Benefit Cost - Defined Benefit Plans

NOTE 9. NET PERIODIC BENEFIT COST – DEFINED BENEFIT PLANS

In connection with the acquisition of Beckman Coulter, the Company acquired the assets and liabilities associated with Beckman Coulter's existing U.S. and Non-U.S. retirement plans. The following sets forth the funded position of the acquired plans as of May 31, 2011 ($ in millions):

	Pension Plans
	U.S			Non – U.S.			Other Post- Retirement Plans
Estimated benefit obligation	$	852.7		$	323.5		$	125.9
Fair value of plan assets		650.9			243.3			—
Net un-funded position	$	(201.8	)	$	(80.2	)	$	(125.9	)

The following sets forth the components of the Company's net periodic benefit cost of the non-contributory defined benefit plans for the three and six months ended July 1, 2011 and July 2, 2010 respectively ($ in millions):

U.S. Pension Benefits

	Three Months Ended						Six Months Ended
	July 1, 2011			July 2, 2010			July 1, 2011			July 2, 2010
Service cost	$	1.6		$	0.5		$	3.2		$	1.0
Interest cost		17.3			18.2			34.6			36.4
Expected return on plan assets		(22.4	)		(20.7	)		(44.8	)		(41.4	)
Amortization of actuarial loss		7.3			5.2			14.6			10.4
Net periodic cost	$	3.8		$	3.2		$	7.6		$	6.4

Non-U.S. Pension Benefits

	Three Months Ended						Six Months Ended
	July 1, 2011			July 2, 2010			July 1, 2011			July 2, 2010
Service cost	$	3.2		$	2.8		$	6.4		$	5.7
Interest cost		8.4			7.3			16.4			15.1
Expected return on plan assets		(5.3	)		(4.6	)		(10.4	)		(9.4	)
Amortization of actuarial loss		0.9			0.3			1.6			0.6
Amortization of prior service credits		—			(0.1	)		(0.1	)		(0.2	)
Other		(0.3	)		—			(0.3	)		—
Net periodic cost	$	6.9		$	5.7		$	13.6		$	11.8

The following sets forth the components of the Company's other post-retirement employee benefit plans for the three months ended July 1, 2011 and July 2, 2010 respectively ($ in millions):

Other Post-Retirement Benefits

	Three Months Ended						Six Months Ended
	July 1, 2011			July 2, 2010			July 1, 2011			July 2, 2010
Service cost	$	0.3		$	0.2		$	0.6		$	0.4
Interest cost		1.5			1.4			3.0			2.8
Amortization of prior service credits		(1.4	)		(1.9	)		(2.8	)		(3.8	)
Amortization of actuarial loss		0.9			0.3			1.8			0.6
Net periodic cost	$	1.3		$	—		$	2.6		$	—

Employer Contributions

During the six months ended July 1, 2011, the Company contributed approximately $23 million to the U.S. pension plan. During 2011, the Company expects to contribute approximately $55 million in aggregate to its U.S. plans, including amounts related to the acquired Beckman Coulter plan, although the ultimate amounts to be contributed will depend upon, among other things, legal requirements, underlying asset returns, the plan's funded status, the anticipated tax deductibility of the contribution, local practices, market conditions, interest rates and other factors. During 2011, the Company expects to contribute approximately $40 million, including amounts related to the acquired Beckman Coulter plans, in employer contributions and unfunded benefit payments to its non-U.S. plans.