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H. J. Heinz Company and Subsidiaries
Notes to Consolidated Financial Statements — (Continued)
Accumulated Other Comprehensive Income:
Amounts recognized in accumulated other comprehensive loss, before tax, consist of the
following:
Pension Benefits
Other Retiree Benefits
2011 2010 2011 2010
(Dollars in thousands)
Net actuarial loss. . . . . . . . . . . . . . . . . . . $909,796 $1,085,471 $ 11,816 $ 17,206
Prior service cost/(credit) . . . . . . . . . . . . . 28,649 30,683 (20,335) (21,780)
Net amount recognized. . . . . . . . . . . . . $938,445 $1,116,154 $ (8,519) $ (4,574)
The change in other comprehensive loss related to pension benefit gains arising during the
period was $95.5 million and $106.6 million at April 27, 2011 and April 28, 2010, respectively. The
change in other comprehensive loss related to the reclassification of pension benefit losses to net
income was $82.2 million and $60.6 million at April 27, 2011 and April 28, 2010, respectively.
The change in other comprehensive loss related to postretirement benefit gains arising during
the period is $7.5 million and $11.4 million at April 27, 2011 and at April 28, 2010, respectively. The
change in other comprehensive loss related to the reclassification of postretirement benefit gains to
net income is $3.6 million and $3.2 million at April 27, 2011 and at April 28, 2010, respectively.
Amounts in accumulated other comprehensive loss (income) expected to be recognized as
components of net periodic benefit costs/(credits) in the following fiscal year are as follows:
Pension Benefits Other Retiree Benefits
2011 2010 2011 2010
(Dollars in thousands)
Net actuarial loss . . . . . . . . . . . . . . . . . . . . . . . . $85,932 $76,963 $ 1,095 $ 1,604
Prior service cost/(credit) . . . . . . . . . . . . . . . . . . 2,020 2,373 (6,116) (5,155)
Net amount recognized . . . . . . . . . . . . . . . . . . $87,952 $79,336 $(5,021) $(3,551)
Assumptions:
The weighted-average rates used for the fiscal years ended April 27, 2011 and April 28, 2010 in
determining the projected benefit obligations for defined benefit pension plans and the accumulated
postretirement benefit obligation for other postretirement plans were as follows:
Other Retiree
Pension Benefits
Benefits
2011 2010 2011 2010
Discount rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.5% 5.6% 5.0% 5.5%
Compensation increase rate . . . . . . . . . . . . . . . . . . . . . . 3.8% 4.0% — —
The weighted-average rates used for the fiscal years ended April 27, 2011, April 28, 2010 and
April 29, 2009 in determining the defined benefit plans’ net pension costs and net postretirement
benefit costs were as follows:
Pension Benefits Other Retiree Benefits
2011 2010 2009 2011 2010 2009
Expected rate of return . . . . . . . . . . . . . . . . . . . . 8.2% 8.1% 8.2% — — —
Discount rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.6% 6.5% 6.1% 5.5% 6.4% 5.9%
Compensation increase rate . . . . . . . . . . . . . . . . 4.0% 4.3% 4.5% — — —
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