The following table summarizes the relationship between our plans’ benefit obligations and assets:
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The following table presents the pre-tax net loss, prior service cost/(credits) and transition assets/(obligations) recognized in
accumulated other comprehensive income (loss) not affecting retained earnings:
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The following table presents estimated net loss, estimated prior service costs/(credits) and estimated transition assets/(obligations) of
our pension plans that will be amortized from accumulated other comprehensive income (loss) not affecting retained earnings into
net periodic pension cost and recorded in the Consolidated Statements of Income during the fiscal year ending May 31, 2008:
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In measuring the projected benefit obligation and net periodic pension cost for our plans, we utilize actuarial valuations. These
valuations include specific information pertaining to individual plan participants, such as salary, age and years of service, along
with certain assumptions. The most significant assumptions applied include discount rates, expected return on plan assets and rate
of compensation increases. We evaluate these assumptions, at a minimum, on an annual basis, and make required changes,
as applicable. In developing our expected long-term rate of return on pension plan assets, we consider the current and expected
target asset allocations of the pension portfolio, as well as historical returns and future expectations for returns on various
categories of plan assets.
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