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 />
The estimated amount that will be amortized from accumulated other comprehensive income into net<br />
periodic benefit cost in fiscal 20<strong>10</strong> is as follows:<br />
Amounts expected to be recognized in net periodic benefit cost<br />
Recognized net actuarial loss (gain) ......................................... $ 708<br />
Amortization of prior service cost (credit) ..................................... 1,407<br />
Total .................................................................. $2,115<br />
Amounts for pension plans with accumulated benefit obligations in excess of fair value of plan assets as of<br />
June 30, 2009 and 2008 are as follows:<br />
Year Ended June 30,<br />
2009 2008<br />
Projected benefit obligation ................................... $128,890 $130,674<br />
Accumulated benefit obligation ................................ 118,563 122,<strong>10</strong>1<br />
Presented below are the components of net periodic benefit costs for the years ended June 30, 2009, 2008<br />
and 2007 were as follows:<br />
Year Ended June 30,<br />
2009 2008 2007<br />
Components of net periodic benefit cost:<br />
Service cost ................................................... $ 2,185 $ 2,529 $ 3,292<br />
Interest cost ................................................... 7,449 7,153 6,0<strong>10</strong><br />
Amortization of prior service cost .................................. 1,625 4,152 887<br />
Amortization of net loss .......................................... (<strong>10</strong>1) 1,349 2,147<br />
Curtailment .................................................... 947 — —<br />
Net periodic benefit cost ......................................... $12,<strong>10</strong>5 $15,183 $12,336<br />
Plan Assumptions<br />
The following table presents the assumptions used to determine our benefit obligations and net periodic<br />
pension and other postretirement benefit costs:<br />
2009<br />
Year Ended June 30,<br />
2008 2007<br />
Assumptions:<br />
Weighted average rates used to determine benefit<br />
obligations at June 30:<br />
Range of discount rates for pension plans ..........<br />
Range of rates of compensation increase for pension<br />
6.00% – 6.25% 5.50% – 6.73% 4.75% – 6.15%<br />
plans .....................................<br />
Weighted average rates used to determine net periodic<br />
benefit cost at June 30:<br />
2.5% – 4.0% 2.0% – 4.0% 2.0% – 4.0%<br />
Range of discount rates for pension plans ..........<br />
Range of rates of compensation increase for pension<br />
6.00% – 6.25% 5.50% – 6.73% 4.75% – 6.25%<br />
plans ..................................... 2.5% – 4.0% 2.0% – 4.0% 2.0% – 4.0%<br />
84
Change language