The amounts in accumulated other comprehensive income (loss) as of December 31, 2009, that are expected to be recognized as
components of net periodic benefit cost (credit) during 2010 are as follows, in millions of dollars:
PENSION
BENEFITS
PLANS IN THE
UNITED STATES
PENSION BENEFITS
PLANS OUTSIDE OF
THE UNITED STATES
OTHER
POSTRETIREMENT
BENEFITS
ALL PLANS TOTAL
Prior service cost (credit) $ .8 $ 1.0 $ (3.4) $ (1.6)
Net loss 38.6 5.9 1.5 46.0
Total $ 39.4 $ 6.9 $ (1.9) $ 44.4
The Corporation’s overall investment strategy is to achieve an asset allocation of approximately 65% equity securities, 30% fixed
income securities, and 5% alternative investments. The Corporation’s overall investment strategy provides that, to the extent the actual
allocation of plan assets differs from the targeted asset allocation by more than 5% for any category, plan assets are rebalanced. The
Corporation further allocates assets within the equity securities and fixed income securities between investments that attempt to
approximate the return achieved by broadly established investment indexes as well as investments that are actively managed and
attempt to exceed the returns achieved by these broadly established investment indexes. Equity securities include investments in
individual stocks and collective investment funds (referred to as mutual funds), including an allocation of those investments to U.S.
equity securities, including large-cap, mid-cap and small-cap companies, and non-U.S. equity securities. Fixed income securities
include U.S. Treasury securities, corporate bonds of companies from diversified industries, mortgaged-backed securities, and mutual
funds. The Corporation does not believe there is a significant concentration risk within the plan assets given the diversification of asset
types, fund strategies, and fund managers.
The three levels of input used to measure fair value are more fully described in Note 1 of Notes to the Consolidated Financial
Statements. The fair values, by asset category, of assets of defined benefit pension plans in the United States at December 31, 2009,
were as follows, in millions of dollars:
ASSET CATEGORY
QUOTED PRICES
IN ACTIVE
MARKETS FOR
IDENTICAL
ASSETS
(LEVEL 1)
SIGNIFICANT
OTHER
OBSERVABLE
INPUTS
(LEVEL 2)
SIGNIFICANT
UNOBSERVABLE
INPUTS
(LEVEL 3)
DECEMBER 31, 2009
TOTAL
Cash and cash equivalents $ .3 $ 4.9 $ — $ 5.2
Equity securities:
U.S. companies 107.0 — — 107.0
Mutual funds 163.1 193.6 — 356.7
Fixed income:
U.S. treasury securities — 43.4 — 43.4
Corporate bonds — 43.2 — 43.2
Mortgage-backed securities — 8.1 — 8.1
Mutual funds — 93.8 8.0 101.8
Other fixed income — 1.5 — 1.5
Alternative investments — — 23.1 23.1
Other (10.8) — — (10.8)
Total $ 259.6 $ 388.5 $ 31.1 $ 679.2
54
Source: BLACK & DECKER CORP, 10-K, February 19, 2010 Powered by Morningstar
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