XML 52 R37.htm IDEA: XBRL DOCUMENT v2.4.0.8
Pension Plans (Tables)
12 Months Ended
Sep. 30, 2013
Pension Plans  
Reconciliations of the changes in the U.S. and international plans' benefit obligations

 

 

 
  Fiscal Year Ended  
 
  September 30,
2013
  September 30,
2012
  September 30,
2011
 
 
  U.S.   Int'l   U.S.   Int'l   U.S.   Int'l  
 
  (in millions)
 

Change in benefit obligation:

                                     

Benefit obligation at beginning of year

  $ 192.9   $ 574.0   $ 171.0   $ 504.3   $ 169.9   $ 441.8  

Service cost

        0.9         1.1         4.0  

Participant contributions

    0.4     0.3     0.6     0.3     0.4     1.9  

Interest cost

    6.6     23.8     7.7     25.6     8.2     27.0  

Benefits paid

    (11.0 )   (18.8 )   (10.0 )   (25.7 )   (11.3 )   (19.3 )

Actuarial (gain) loss

    (8.6 )   49.0     23.6     50.3     5.7     (23.7 )

Curtailment gain

                        (8.2 )

Plan settlements

        (5.7 )       (2.4 )   (1.9 )    

Net transfer in/(out)/acquisitions

                        89.5  

Foreign currency translation (gain) loss

        (1.4 )       20.5         (8.7 )
                           

Benefit obligation at end of year

  $ 180.3   $ 622.1   $ 192.9   $ 574.0   $ 171.0   $ 504.3  
                           
Reconciliations of the changes in the fair value of assets

 

 
  Fiscal Year Ended  
 
  September 30,
2013
  September 30,
2012
  September 30,
2011
 
 
  U.S.   Int'l   U.S.   Int'l   U.S.   Int'l  
 
  (in millions)
 

Change in plan assets

                                     

Fair value of plan assets at beginning of year

  $ 112.3   $ 462.4   $ 91.5   $ 417.3   $ 84.6   $ 362.8  

Actual return on plan assets

    11.3     37.4     17.0     39.0     0.6     10.0  

Employer contributions

    6.8     16.2     13.2     17.2     19.1     18.6  

Participant contributions

    0.4     0.3     0.6     0.3     0.4     1.9  

Benefits paid

    (11.0 )   (18.8 )   (10.0 )   (25.7 )   (11.3 )   (19.3 )

Plan settlements

        (5.7 )       (2.4 )   (1.9 )    

Net transfer in/(out)/acquisitions

                        50.5  

Foreign currency translation (loss) gain

        (1.9 )       16.7         (7.2 )
                           

Fair value of plan assets at end of year

  $ 119.8   $ 489.9   $ 112.3   $ 462.4   $ 91.5   $ 417.3  
                           
Reconciliations of the funded status


 

 
  Fiscal Year Ended  
 
  September 30, 2013   September 30, 2012   September 30, 2011  
 
  U.S.   Int'l   U.S.   Int'l   U.S.   Int'l  
 
  (in millions)
 

Reconciliation of funded status:

                                     

Funded status at end of year

  $ (60.5 ) $ (132.2 ) $ (80.6 ) $ (111.6 ) $ (79.5 ) $ (87.0 )

Contribution made after measurement date

    N/A     N/A     N/A     N/A     N/A     N/A  
                           

Net amount recognized at end of year

  $ (60.5 ) $ (132.2 ) $ (80.6 ) $ (111.6 ) $ (79.5 ) $ (87.0 )
                           
Amounts recognized in the consolidated balance sheets

 

 

 
  Fiscal Year Ended  
 
  September 30, 2013   September 30, 2012   September 30, 2011  
 
  U.S.   Int'l   U.S.   Int'l   U.S.   Int'l  
 
  (in millions)
 

Amounts recognized in the consolidated balance sheets:

                                     

Other non-current assets

  $   $ 0.6   $   $   $   $ 0.5  

Accrued expenses and other current liabilities

    (1.4 )       (1.7 )       (1.4 )    

Other long-term liabilities

    (59.1 )   (132.8 )   (78.9 )   (111.6 )   (78.1 )   (87.5 )
                           

Net amount recognized in the balance sheet

  $ (60.5 ) $ (132.2 ) $ (80.6 ) $ (111.6 ) $ (79.5 ) $ (87.0 )
                           
Reconciliation of amounts in the consolidated statements of stockholders' equity

 

 

 
  Fiscal Year Ended  
 
  September 30, 2013   September 30, 2012   September 30, 2011  
 
  U.S.   Int'l   U.S.   Int'l   U.S.   Int'l  
 
  (in millions)
 

Reconciliation of amounts in consolidated statements of stockholders' equity:

                                     

Prior service credit

  $   $ 6.0   $   $ 6.2   $   $ 6.2  

Net (loss)

    (99.4 )   (170.7 )   (115.1 )   (143.2 )   (103.2 )   (104.3 )
                           

Total recognized in accumulated other comprehensive income (loss)

  $ (99.4 ) $ (164.7 ) $ (115.1 ) $ (137.0 ) $ (103.2 ) $ (98.1 )
                           
Components of net periodic cost for the Company's pension plans

 

 

 
  Fiscal Year Ended  
 
  September 30,
2013
  September 30,
2012
  September 30,
2011
 
 
  U.S.   Int'l   U.S.   Int'l   U.S.   Int'l  
 
  (in millions)
 

Components of net periodic (benefit) cost:

                                     

Service costs

  $   $ 1.0   $   $ 1.1   $   $ 4.0  

Interest cost on projected benefit obligation

    6.6     23.8     7.7     25.6     8.2     27.0  

Expected return on plan assets

    (8.5 )   (22.7 )   (8.4 )   (25.3 )   (8.1 )   (27.8 )

Amortization of prior service costs

        (0.2 )       (0.2 )       (0.2 )

Amortization of net loss

    4.3     4.0     3.1     2.3     2.6     2.7  

Curtailment gain recognized

                        (4.2 )

Settlement loss recognized

        2.6         0.5     0.6      
                           

Net periodic cost

  $ 2.4   $ 8.5   $ 2.4   $ 4.0   $ 3.3   $ 1.5  
                           
Amounts included in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year

Amounts included in accumulated other comprehensive loss as of September 30, 2013 that are expected to be recognized as components of net periodic benefit cost during fiscal 2014 are (in millions):

 
  U.S.   Int'l  

Amortization of prior service credit

  $   $ 0.2  

Amortization of net actuarial losses

    (4.0 )   (4.8 )
           

Total

  $ (4.0 ) $ (4.6 )
           
Additional year-end information for pension plans with accumulated benefit obligations in excess of plan assets

 

 

 
  Fiscal Year Ended  
 
  September 30,
2013
  September 30,
2012
  September 30,
2011
 
 
  U.S.   Int'l   U.S.   Int'l   U.S.   Int'l  
 
  (in millions)
 

Projected benefit obligation

  $ 180.3   $ 601.7   $ 192.9   $ 574.0   $ 171.0   $ 496.1  

Accumulated benefit obligation

    180.3     599.8     192.9     570.6     171.0     493.7  

Fair value of plan assets

    119.8     469.0     112.3     462.4     91.5     408.7  
Schedule of expected future benefit payments

The table below provides the expected future benefit payments, in millions:

Year Ending September 30,
  U.S.   Int'l  

2014

  $ 11.2   $ 21.6  

2015

    13.3     23.2  

2016

    11.3     23.9  

2017

    12.7     26.1  

2018

    11.9     27.8  

2019 - 2023

    60.7     151.3  
           

Total

  $ 121.1   $ 273.9  
           
Schedule of underlying assumptions for the pension plans

 

 

 
  Fiscal Year Ended  
 
  September 30,
2013
  September 30,
2012
  September 30,
2011
 
 
  U.S.   Int'l   U.S.   Int'l   U.S.   Int'l  

Weighted-average assumptions to determine benefit obligation:

                                     

Discount rate

    4.40 %   4.44 %   3.50 %   4.39 %   4.65 %   5.12 %

Salary increase rate

    N/A     2.58 %   N/A     2.36 %   N/A     2.65 %

Weighted-average assumptions to determine net periodic benefit cost:

                                     

Discount rate

    3.50 %   4.39 %   4.65 %   5.12 %   4.95 %   5.05 %

Salary increase rate

    N/A     2.36 %   N/A     2.65 %   N/A     3.27 %

Expected long-term rate of return on plan assets

    7.50 %   5.11 %   7.50 %   5.65 %   7.50 %   6.05 %
Summary of the Company's target allocation and pension plan asset allocation, both U.S. and international

 

 

 
   
   
  Percentage of Plan Assets
as of September 30,
 
 
  Target
Allocations
 
 
  2013   2012  
 
  U.S.   Int'l   U.S.   Int'l   U.S.   Int'l  

Asset Category

                                     

Equities

    50 %   3 %   49 %   28 %   51 %   29 %

Debt

    32     45     34     37     33     42  

Cash

    3         1     4     2     3  

Property and other

    15     52     16     31     14     26  
                           

Total

    100 %   100 %   100 %   100 %   100 %   100 %
                           
Fair values of the Company's post-retirement benefit plan assets by major asset categories

 

 

 
   
  Fair Value Measurement as of
September 30, 2013
 
 
  Total
Carrying
Value as of
September 30,
2013
  Quoted
Prices in
Active
Markets
(Level 1)
  Significant
Other
Observable
Inputs
(Level 2)
  Significant
Unobservable
Inputs
(Level 3)
 
 
  (in millions)
 

Cash and cash equivalents

  $ 11.0   $ 11.0   $   $  

Investment funds

                         

Diversified funds

    108.6         108.6      

Equity funds

    192.4         192.4      

Fixed income funds

    220.6         220.6      

Hedge funds

    25.0         12.4     12.6  

Assets held by insurance company

    46.1         46.1      

Real estate

    6.0         6.0      
                   

Total

  $ 609.7   $ 11.0   $ 586.1   $ 12.6  
                   

     

 
   
  Fair Value Measurement as of
September 30, 2012
 
 
  Total
Carrying
Value as of
September 30,
2012
  Quoted
Prices in
Active
Markets
(Level 1)
  Significant
Other
Observable
Inputs
(Level 2)
  Significant
Unobservable
Inputs
(Level 3)
 
 
  (in millions)
 

Cash and cash equivalents

  $ 4.6   $ 4.6   $   $  

Investment funds

                         

Diversified funds

    77.9         77.9      

Equity funds

    181.9         181.9      

Fixed income funds

    226.8         226.8      

Hedge funds

    40.5         29.9     10.6  

Assets held by insurance company

    37.5         37.5      

Real estate

    5.5         5.5      
                   

Total

  $ 574.7   $ 4.6   $ 559.5   $ 10.6  
                   
Changes in the fair value of the Company's post-retirement plan Level 3 assets

 

 

 
  September 30,
2012
Beginning
balance
  Actual return
on plan assets,
relating to
assets still held
at reporting
date
  Actual return
on plan assets,
relating to
assets sold
during the
period
  Purchases,
sales and
settlements
  Transfer
into /
(out of)
Level 3
  Change
due to
exchange
rate
changes
  September 30,
2013
Ending
balance
 
 
  (in millions)
 

Investment funds

                                           

Hedge funds

  $ 10.6   $ 2.0   $   $   $   $   $ 12.6  
                               

Total

  $ 10.6   $ 2.0   $   $   $   $   $ 12.6  
                               

       

 
  September 30,
2011
Beginning
balance
  Actual return
on plan assets,
relating to
assets still held
at reporting
date
  Actual return
on plan assets,
relating to
assets sold
during the
period
  Purchases,
sales and
settlements
  Transfer
into /
(out of)
Level 3
  Change
due to
exchange
rate
changes
  September 30,
2012
Ending
balance
 
 
  (in millions)
 

Investment funds

                                           

Hedge funds

  $ 10.0   $ 0.9   $   $ (0.3 ) $   $   $ 10.6  
                               

Total

  $ 10.0   $ 0.9   $   $ (0.3 ) $   $   $ 10.6