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H. J. Heinz Company and Subsidiaries
Notes to Consolidated Financial Statements — (Continued)
projected benefit obligations in excess of the fair value of plan assets at April 28, 2010, the projected
benefit obligations and the fair value of plan assets were $160.9 million and $20.3 million,
respectively.
The accumulated benefit obligation for all defined benefit pension plans was $2,602.0 million at
April 27, 2011 and $2,414.3 million at April 28, 2010.
Certain of the Company’s pension plans have accumulated benefit obligations in excess of the
fair value of plan assets. For these plans, the accumulated benefit obligations, projected benefit
obligations and the fair value of plan assets at April 27, 2011 were $154.3 million, $175.0 million and
$27.0 million, respectively. For pension plans having accumulated benefit obligations in excess of the
fair value of plan assets at April 28, 2010, the accumulated benefit obligations, projected benefit
obligations and the fair value of plan assets were $137.0 million, $160.9 million and $20.3 million,
respectively.
Components of Net Periodic Benefit Cost and Defined Contribution Plan Expense:
Total pension cost of the Company’s principal pension plans and postretirement plans consisted
of the following:
Pension Benefits
Other Retiree Benefits
2011 2010 2009 2011 2010 2009
(Dollars in thousands)
Components of defined benefit
net periodic benefit cost:
Service cost . . . . . . . . . . . . . . . $ 32,329 $ 30,486 $ 33,321 $ 6,311 $ 5,999 $ 6,501
Interest cost . . . . . . . . . . . . . . . 142,133 149,640 143,601 12,712 15,093 15,357
Expected return on assets . . . . (229,258) (211,408) (207,774) — — —
Amortization of:
Prior service cost/(credit) . . . 2,455 2,173 3,182 (5,155) (3,796) (3,812)
Net actuarial loss . . . . . . . . . 77,687 53,882 33,206 1,604 540 3,681
Loss due to curtailment,
settlement and special
termination benefits. . . . . . . 2,039 612 635 — — —
Net periodic benefit cost . . . . . . . 27,385 25,385 6,171 15,472 17,836 21,727
Defined contribution plans . . . . . 49,089 47,356 36,404 — — —
Total cost . . . . . . . . . . . . . . . . . . . 76,474 72,741 42,575 15,472 17,836 21,727
Less periodic benefit cost
associated with discontinued
operations . . . . . . . . . . . . . . . . — 618 1,376 — — —
Periodic benefit cost associated
with continuing operations . . . $ 76,474 $ 72,123 $ 41,199 $15,472 $17,836 $21,727
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