Harbinger Group Inc.
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SEC Filings

10-K
HRG GROUP, INC. filed this Form 10-K on 11/23/2016
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The following tables provide additional information on the Company’s pension plans as of September 30, 2016 and 2015: 
 
 
U.S. Plans
 
Non U.S. Plans
(in millions)
 
2016
 
2015
 
2016
 
2015
Changes in benefit obligation:
 
 
 
 
 
 
 
 
Benefit obligation, beginning of year
 
$
73.9

 
$
70.9

 
$
184.4

 
$
196.2

Obligations assumed from acquisitions
 
—

 
—

 
—

 
0.6

Transfer of obligation
 
—

 
—

 
—

 
(1.8
)
Service cost
 
0.2

 
0.4

 
2.6

 
2.6

Interest cost
 
3.0

 
2.9

 
5.7

 
6.2

Actuarial (gain) loss
 
6.2

 
3.3

 
36.0

 
10.6

Curtailments
 
—

 
—

 
—

 
(0.9
)
Benefits paid
 
(3.8
)
 
(3.6
)
 
(6.1
)
 
(11.8
)
Foreign currency exchange rate changes
 
—

 
—

 
(12.0
)
 
(17.3
)
Benefit obligation, end of year
 
$
79.5

 
$
73.9

 
$
210.6

 
$
184.4

Changes in plan assets:
 
 
 
 
 
 
 
 
Fair value of plan assets, beginning of year
 
$
58.2

 
$
62.4

 
$
116.9

 
$
126.5

Actual return on plan assets
 
5.3

 
(1.2
)
 
8.9

 
3.6

Employer contributions
 
4.1

 
0.6

 
6.6

 
7.8

Benefits paid
 
(3.8
)
 
(3.6
)
 
(6.1
)
 
(11.8
)
Foreign currency exchange rate changes
 
—

 
—

 
(11.3
)
 
(9.2
)
Fair value of plan assets, end of year
 
$
63.8

 
$
58.2

 
$
115.0

 
$
116.9

Funded Status
 
$
(15.7
)
 
$
(15.7
)
 
$
(95.6
)
 
$
(67.5
)
Amounts recognized in statement of financial position
 
 
 
 
 
 
 
 
Other accrued expenses
 
$
0.5

 
$
0.6

 
$
2.3

 
$
2.2

Other long-term liabilities
 
15.2

 
15.1

 
93.3

 
65.3

Accumulated other comprehensive income (loss)
 
(20.0
)
 
(20.4
)
 
(64.2
)
 
(23.4
)
Weighted average assumptions
 
 
 
 
 
 
 
 
Discount rate
 
3.50%
 
4.25%
 
1.00 - 13.50%
 
1.75 - 13.81%
Expected return on plan assets
 
7.00%
 
7.25%
 
1.00 - 3.70%
 
3.50 - 5.26%
Rate of compensation increase
 
N/A
 
N/A
 
2.25 - 7.00%
 
2.25 - 5.50%
Amounts reclassified from Accumulated Other Comprehensive Loss associated with employee benefit plan costs and recognized on the Company’s Consolidated Statements of Income for the years ended September 30, 2016, 2015 and 2014 were as follows:
(in millions)
 
2016
 
2015
 
2014
Cost of goods sold
 
$
1.4

 
$
0.6

 
$
0.6

Selling expenses
 
0.3

 
0.3

 
0.3

General and administrative expenses
 
0.7

 
0.5

 
0.5

Amounts reclassified from accumulated other comprehensive income
 
$
2.4

 
$
1.4

 
$
1.4

The net loss in Accumulated Other Comprehensive Loss expected to be recognized during the year ended September 30, 2017 is $5.3 million.

S-38
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