Employee Benefit Plans

9 Months Ended

Sep. 29, 2012

Employee Benefit Plans

Note H – Employee Benefit Plans

Pension Disclosures

The components of net periodic pension cost (benefit) for our foreign pension plan are as follows:

	Third Quarter				Year-to-Date
(In millions)	2012		2011		2012		2011
Service cost	$	—	$	—	$	—	$	—
Interest cost		2.5		2.5		7.2		7.4
Expected return on plan assets		(3.1)		(2.4)		(8.6)		(7.1)
Net periodic pension cost (benefit)	$	(0.6)	$	0.1	$	(1.4)	$	0.3

Following the significant contribution to the plan in February 2012, as discussed in Note C, the company remeasured the 2012 estimated net periodic pension cost (benefit). No other assumptions in the pension calculation or target allocation of assets changed significantly from the pension valuation performed at December 31, 2011. The change in estimated earnings on plan assets will result in a net periodic pension benefit for the balance of the year. The funding during the quarter ended March 31, 2012 resulted in the pension plan changing from an unfunded liability position of approximately $49.6 million at December 31, 2011 to a net asset position at September 29, 2012 of approximately $10.1 million. There are no additional funding requirements while the plan is in a surplus position.