PRECISION CASTPARTS CORP | 2013 | FY | 3


 
Pension Benefits
 
Other
Postretirement Benefits
Fiscal
2013
 
2012
 
2013
 
2012
Change in plan assets:
 
 
 
 
 
 
 
Beginning fair value of plan assets
$
1,719.3

 
$
1,680.2

 
$

 
$

Actual return on plan assets
193.1

 
53.4

 

 

Business acquisition
246.9

 
3.9

 

 

Company contributions
69.1

 
69.4

 
8.4

 
8.5

Plan participants’ contributions
2.2

 
2.2

 

 

Benefits paid
(83.4
)
 
(81.6
)
 
(8.4
)
 
(8.5
)
Exchange rate and other
(28.2
)
 
(8.2
)
 

 

Ending fair value of plan assets
$
2,119.0

 
$
1,719.3

 
$

 
$

Change in projected benefit obligations:
 
 
 
 
 
 
 
Beginning projected benefit obligations
$
1,919.2

 
$
1,642.8

 
$
90.7

 
$
83.5

Service cost
43.5

 
34.5

 
0.8

 
0.7

Interest cost
96.1

 
92.1

 
4.3

 
4.6

Plan participants’ contributions
2.2

 
2.2

 

 

Amendments/curtailments/settlement
(0.2
)
 
4.6

 

 
1.8

Business acquisition/other
358.9

 
5.3

 
12.7

 

Actuarial losses
158.1

 
227.0

 
6.3

 
8.6

Benefits paid
(83.4
)
 
(81.6
)
 
(8.4
)
 
(8.5
)
Exchange rate and other
(28.5
)
 
(7.7
)
 

 

Ending projected pension and postretirement benefit obligations
$
2,465.9

 
$
1,919.2

 
$
106.4

 
$
90.7

Funded Status:
 
 
 
 
 
 
 
Fair value of plan assets less than projected pension and postretirement benefit obligations
$
(346.9
)
 
$
(199.9
)
 
$
(106.4
)
 
$
(90.7
)
Amounts recognized in the balance sheets:
 
 
 
 
 
 
 
Noncurrent asset
$
39.7

 
$
13.4

 
$

 
$

Current liabilities
(5.5
)
 
(5.4
)
 
(8.0
)
 
(7.0
)
Noncurrent liabilities
(381.1
)
 
(207.9
)
 
(98.4
)
 
(83.7
)
Net amount recognized
$
(346.9
)
 
$
(199.9
)
 
$
(106.4
)
 
$
(90.7
)
Amounts recognized in accumulated other comprehensive loss consist of:
 
 
 
 
 
 
 
Net actuarial loss
$
717.4

 
$
669.6

 
$
20.6

 
$
15.4

Prior service cost
14.3

 
17.7

 
1.3

 
1.6

Unrecognized net transition obligation

 
0.1

 

 

Net amount recognized, before tax effect
$
731.7

 
$
687.4

 
$
21.9

 
$
17.0

 
 
 
 
 
 
 
 

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