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Pension And Post Retirement Benefits
9 Months Ended
Sep. 30, 2011
Pension And Post Retirement Benefits 
Pension And Post Retirement Benefits

 

(2)

Pension and Post-retirement Benefits

The components of net periodic benefit costs for the Company's pension and the other post-retirement benefit plans for the third quarter of 2011 and 2010 are as follows:

 

     Pension Plans     Other
Post-retirement
Benefit Plans
 
     Three Months  Ended
September 30,
    Three Months  Ended
September 30,
 
         2011             2010             2011              2010      

Net periodic benefit costs:

         

Service cost

   $ 0.4      $ 0.4      $       $   

Interest cost

     8.1        8.5        0.2         0.2   

Expected return on plan assets

     (8.7     (8.0               

Amortization of actuarial loss

     1.3        1.2                0.1   
  

 

 

   

 

 

   

 

 

    

 

 

 
     1.1        2.1        0.2         0.3   

Portion allocated to Revlon Holdings LLC

     (0.1                      
  

 

 

   

 

 

   

 

 

    

 

 

 
   $ 1.0      $ 2.1      $ 0.2       $ 0.3   
  

 

 

   

 

 

   

 

 

    

 

 

 

The components of net periodic benefit costs for the Company's pension and the other post-retirement benefit plans for the first nine months of 2011 and 2010 are as follows:

 

     Pension Plans     Other
Post-retirement
Benefit Plans
 
     Nine Months Ended
September 30,
    Nine Months Ended
September 30,
 
         2011             2010             2011              2010      

Net periodic benefit costs:

  

Service cost

   $ 1.0      $ 1.2      $       $   

Interest cost

     24.3        25.4        0.6         0.6   

Expected return on plan assets

     (26.2     (24.1               

Amortization of actuarial loss

     4.0        3.8        0.2         0.2   
  

 

 

   

 

 

   

 

 

    

 

 

 
     3.1        6.3        0.8         0.8   

Portion allocated to Revlon Holdings LLC

     (0.1     (0.1               
  

 

 

   

 

 

   

 

 

    

 

 

 
   $ 3.0      $ 6.2      $ 0.8       $ 0.8   
  

 

 

   

 

 

   

 

 

    

 

 

 

In the three and nine months ended September 30, 2011, compared to the prior year periods, the Company recognized lower net periodic benefit costs primarily due to the increase in the fair value of pension plan assets at December 31, 2010, partially offset by a decrease in the weighted-average discount rate. The Company expects that its net periodic benefit costs for its pension and the other post-retirement benefit plans will be approximately $5 million for all of 2011, compared with $9.3 million in 2010.

During the third quarter of 2011, $13.5 million and $0.2 million were contributed to the Company's pension plans and other post-retirement benefit plans, respectively. During the first nine months of 2011, $28 million and $0.7 million were contributed to the Company's pension plans and other post-retirement benefit plans, respectively. The Company currently expects to contribute approximately $30 million in the aggregate to its pension plans and other post-retirement benefit plans in 2011.

Relevant aspects of the qualified defined benefit pension plans, nonqualified pension plans and other post-retirement benefit plans sponsored by Products Corporation are disclosed in Revlon, Inc.'s 2010 Form 10-K.