Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
<strong>Harman</strong> International Industries, Incorporated and Subsidiaries<br />
(Dollars in thousands, except per-share data and unless otherwise indicated)<br />
Summary Plan Results<br />
The following is a reconciliation of the benefit obligations, plan assets and funded status of the plans as well<br />
as the amounts recognized on the balance sheet as of and for the years ended June 30, 2009 and 2008:<br />
Year Ended June 30,<br />
2009 2008<br />
Change in benefit obligation:<br />
Benefit obligation at beginning of year ......................... $130,674 $ 120,058<br />
Service cost ............................................... 2,185 2,529<br />
Interest cost ............................................... 7,449 7,153<br />
Amendments .............................................. — 9,891<br />
Actuarial loss/(gain) ........................................ 4,671 (9,946)<br />
Asset transfer ............................................. — —<br />
Curtailment ............................................... 805 —<br />
Benefits paid .............................................. (9,879) (8,464)<br />
Foreign currency exchange rate changes ........................ (7,015) 9,453<br />
Benefit obligation at end of year .................................. $128,890 $ 130,674<br />
Change in plan assets:<br />
Fair value of assets at beginning of year ........................ — —<br />
Asset transfer ............................................. — —<br />
Employer contributions ..................................... $ 9,879 $ 8,464<br />
Benefits paid .............................................. (9,879) (8,464)<br />
Foreign currency exchange rate changes ........................ — —<br />
Fair value of assets at end of year ................................. $ — $ —<br />
Reconciliation of funded status:<br />
Funded status ............................................. $(128,890) $(130,674)<br />
Unrecognized prior service cost ............................... 11,485 13,252<br />
Unrecognized net loss ....................................... <strong>10</strong>,394 5,517<br />
Accrued pension cost ........................................... $(<strong>10</strong>7,011) $(111,905)<br />
Accrued liabilities .......................................... $ (7,703) $ (9,216)<br />
Other non-current liabilities .................................. (121,187) (121,458)<br />
Accumulated other comprehensive income ...................... 21,879 18,769<br />
Accrued pension cost ........................................... $(<strong>10</strong>7,011) $(111,905)<br />
Amounts recognized in accumulated other comprehensive income for the years ended June 30, 2009 and<br />
2008 are as follows:<br />
Year Ended June 30,<br />
2009 2008<br />
Amounts recorded in accumulated other comprehensive income<br />
Prior service cost .............................................. $11,485 $13,252<br />
Net actuarial loss .............................................. <strong>10</strong>,394 5,517<br />
21,879 18,769<br />
Income tax benefits related to above items .......................... (8,058) (6,822)<br />
Total recognized in accumulated other comprehensive income ........... $13,821 $11,947<br />
83