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STERIS CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (dollars in thousands, except per share amounts) Obligations and Funded Status. The following table reconciles the funded status of the defined benefit pension plans and the other postretirement medical benefit plan to the amounts recorded on our Consolidated Balance Sheets at March 31, 2008 and 2007, respectively. Benefit obligation balances presented in the following table reflect the projected benefit obligations for our defined benefit pension plans and the accumulated other post-retirement benefit obligation for our other post-retirement medical benefit plan. The measurement date of our defined benefit pension plans and the other post-retirement medical benefit plan is March 31 for both periods presented. Change in Benefit Obligations: Pension Plans Other U.S. Qualified International Post-retirement Plan 2008 2007 2008 2007 2008 2007 Benefit obligations at beginning of year $ 48,431 $ 47,793 $ 10,952 $ 10,323 $ 81,064 $ 81,005 Service cost 105 76 513 454 — — Interest cost 2,796 2,769 337 331 4,643 4,673 Actuarial loss (gain) 875 1,076 1,128 (42) 1,982 1,379 Benefits paid (4,343) (3,283) (1,370) (1,514) (4,976) (5,993) Employee contributions — — 649 620 — — Impact of foreign currency exchange rate changes — — 2,494 780 — — Benefit obligations at end of year 47,864 48,431 14,703 10,952 82,713 81,064 Change in Plan Assets: Fair value of plan assets at beginning of year 38,971 35,715 8,946 7,587 — — Actual (loss) return on plan assets (1,248) 3,414 1,750 1,031 — — Employer contributions 2,404 3,125 649 620 4,976 5,993 Employee contributions — — 649 620 — — Benefits and expenses paid (4,343) (3,283) (1,370) (1,514) (4,976) (5,993) Impact of foreign currency exchange rate changes — — 2,101 602 — — Fair value of plan assets at end of year 35,784 38,971 12,725 8,946 — — Funded Status of the Plans (1) $ (12,080) $ (9,460) $ (1,978) $ (2,006) $ (82,713) $ (81,064) 88
STERIS CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (dollars in thousands, except per share amounts) (1) The current and long-term portions of the accrued benefit obligations are included in “Accrued payroll and other related liabilities” and “Other liabilities,” respectively, on the accompanying Consolidated Balance Sheets. Accumulated other comprehensive loss, net of deferred income tax expense of $14,194 and $12,024 at March 31, 2008 and 2007, respectively, is included in shareholders’ equity. Defined benefit plans with an accumulated benefit obligation exceeding the fair value of plan assets had the following plan assets and obligations at March 31, 2008 and 2007: U.S. Qualified International Total 2008 2007 2008 2007 2008 2007 Aggregate fair value of plan assets $ 35,784 $ 37,737 $ 12,725 NA $ 48,509 $ 37,737 Aggregate accumulated benefit obligations 47,864 47,317 13,403 NA 61,267 47,317 NA – Not applicable. Defined benefit plans with a projected benefit obligation exceeding the fair value of plan assets had the following plan assets and obligations at March 31, 2008 and 2007: U.S. Qualified International Total 2008 2007 2008 2007 2008 2007 Aggregate fair value of plan assets $ 35,784 $ 37,737 $ 12,725 $ 8,946 $ 48,509 $ 46,683 Aggregate projected benefit obligations 47,864 47,317 14,703 10,952 62,567 58,269 89
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On the Surface FISCAL 2008 ANNUAL R
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“ We intend to give Customers mor
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ON THE SURFACE NET REVENUES and ded
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ON THE SURFACE large population of
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ON THE SURFACE Advanced Visualizati
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ON THE SURFACE Behind the Names Tec
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ON THE SURFACE Customer-Centric Com
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United States Securities and Exchan
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PART I Throughout this Annual Repor
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support services such as constructi
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Restructuring - European Restructur
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we cannot assure you that future or
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Our success depends, in part, on ou
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We conduct manufacturing, sales and
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• consent decree, which could res
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U.S. Locations (including Puerto Ri
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We believe we have adequately reser
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PART II ITEM 5. MARKET FOR REGISTRA
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ITEM 6. SELECTED FINANCIAL DATA Yea
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We use this measure to gauge our ab
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A detailed discussion of our fiscal
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FISCAL 2008 AS COMPARED TO FISCAL 2
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Compensation and benefit costs, fee
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Liabilities related to restructurin
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We operate in three reportable busi
Page 51 and 52: STERIS Isomedix Services segment op
Page 53 and 54: Operating Expenses. The following t
Page 55 and 56: March 31, 2006 European Restructuri
Page 57 and 58: The following table compares our re
Page 59 and 60: Net Cash Provided by Operating Acti
Page 61 and 62: • Stock option and other equity t
Page 63 and 64: CONTRACTUAL AND COMMERCIAL COMMITME
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Page 67 and 68: Our self-insured liabilities contai
Page 69 and 70: Amendment of FASB Statements No. 87
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Page 73 and 74: REPORT OF MANAGEMENT Board of Direc
Page 75 and 76: STERIS CORPORATION AND SUBSIDIARIES
Page 95 and 96: 9. INCOME TAXES STERIS CORPORATION
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Page 123 and 124: ITEM 9B. OTHER INFORMATION None. PA
Page 125 and 126: PART IV ITEM 15. EXHIBITS AND FINAN
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Page 129 and 130: EXHIBIT INDEX Exhibit Number Exhibi
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Page 133 and 134: EXHIBIT 23.1 CONSENT OF INDEPENDENT
Page 135 and 136: EXHIBIT 31.1 CERTIFICATION OF THE P
Page 137 and 138: EXHIBIT 32.1 CERTIFICATION PURSUANT
Page 139 and 140: Corporate Information BOARD OF DIRE
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