XML 33 R14.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Benefit Plans
3 Months Ended
Jun. 30, 2011
Notes To Financial Statements [Abstract]  
Benefit Plans
Benefit Plans


We provide defined benefit pension plans for certain current and former manufacturing and plant administrative personnel throughout the world as determined by collective bargaining agreements or employee benefit standards set at the time of acquisition of certain businesses. In addition to providing pension benefits to certain employees, we sponsor an unfunded postretirement welfare benefits plan for two groups of United States employees; including the same employees who receive pension benefits under the United States defined benefit pension plan. Benefits under this plan include retiree life insurance and retiree medical coverage, including prescription drug coverage. Additional information regarding our defined benefit pension plans and other postretirement benefits plan is included in our consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2011, filed with the SEC on May 27, 2011.


Components of the net periodic benefit cost for our defined benefit pension plans and other postretirement medical benefits plan were as follows:
 
 
 
Defined Benefit Pension Plans
 
Other
Postretirement
Benefits Plan
 
 
U.S. Qualified
 
International
 
Three Months Ended June 30,
 
2011
 
2010
 
2011
 
2010
 
2011
 
2010
Service cost
 
$
51


 
$
47


 
$
127


 
$
117


 
$


 
$


Interest cost
 
609


 
654


 
74


 
75


 
248


 
292


Expected return on plan assets
 
(821
)
 
(758
)
 
(75
)
 
(82
)
 


 


Recognized losses
 
267


 
267


 


 


 
106


 
97


Amortization of prior service cost
 


 


 


 


 
(816
)
 
(816
)
Net periodic benefit cost (income)
 
$
106


 
$
210


 
$
126


 
$
110


 
$
(462
)
 
$
(427
)




We contribute amounts to the defined benefit pension plans at least sufficient to meet the minimum requirements as stated in applicable employee benefit laws and local tax laws. We record liabilities for the difference between the fair value of the plan assets and the benefit obligation (the projected benefit obligation for pension plans and the accumulated postretirement benefit obligation for other postretirement benefits plans) on our accompanying Consolidated Balance Sheets.