Avon 2012 Annual Report Download - page 97
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
We are required, among other things, to recognize the funded status of pension and other postretirement benefit plans on the balance
sheet. Each overfunded plan is recognized as an asset and each underfunded plan is recognized as a liability. The recognition of prior service
costs or credits and net actuarial gains or losses, as well as subsequent changes in the funded status, are recognized as components of
accumulated other comprehensive income, net of tax, in shareholders’ equity, until they are amortized as a component of net periodic
benefit cost. We recognize prior service costs or credits and actuarial gains and losses beyond a 10% corridor to earnings based on the
estimated future service period of the participants. The determination of the 10% corridor utilizes a calculated value of plan assets for our
more significant plans, whereby gains and losses are smoothed over three- and five-year periods.