BKC » Topics » Pension Benefits

This excerpt taken from the BKC 10-K filed Aug 28, 2008.
Pension Benefits
 
The Company sponsors noncontributory defined benefit pension plans for its salaried employees in the United States (the “U.S. Pension Plans”) and certain employees in the United Kingdom and Germany (the “International Pension Plans”). Effective December 31, 2005, all benefits accrued under the U.S. Pension Plans were frozen at the benefit level attained as of that date. As a result, the Company recognized a curtailment gain of $6 million, as a component of net periodic benefit cost for the year ended June 30, 2006.
 
This excerpt taken from the BKC 10-K filed Sep 7, 2007.
Pension Benefits
 
The Company sponsors noncontributory defined benefit pension plans for its salaried employees in the United States (the “U.S. Pension Plans”) and certain employees in the United Kingdom and Germany (the “International


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Table of Contents

 
BURGER KING HOLDINGS, INC. AND SUBSIDIARIES
 
Notes to Consolidated Financial Statements — (Continued)
 
Pension Plans”). Effective December 31, 2005, all benefits accrued under the U.S. Pension Plans were frozen at the benefit level attained as of that date. As a result, the Company recognized a curtailment gain of $6 million, as a component of net periodic benefit cost for the year ended June 30, 2006. In conjunction with the curtailment gain, the Company made a one-time distribution totaling $6 million on behalf of those U.S. Pension Plan participants who were affected by the curtailment. The distribution was paid by the Company in cash or contributed to the Burger King Savings Plan or Executive Retirement Plan account of the participant.
 

EXCERPTS ON THIS PAGE:

10-K
Aug 28, 2008
10-K
Sep 7, 2007
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