Print Page  |  Close Window

Sensata Technologies Holding N.V.'s SEC Filings

S-1/A
SENSATA TECHNOLOGIES HOLDING PLC filed this Form S-1/A on 03/09/2010
Entire Document
 


Table of Contents

Other changes in plan assets and benefit obligations, net of tax, recognized in other comprehensive loss for the years ended December 31, 2009, 2008 and 2007 are as follows:

 

    For the year ended December 31,
    2009     2008     2007
    U.S. Plans     Non-U.S.
Plans
    U.S. Plans   Non-U.S.
Plans
    U.S. Plans   Non-U.S.
Plans
    Defined
Benefit
    Retiree
Healthcare
    Defined
Benefit
    Defined
Benefit
    Retiree
Healthcare
  Defined
Benefit
    Defined
Benefit
    Retiree
Healthcare
  Defined
Benefit

Net (gain)/loss

  $ (2,019   $ 12      $ (2,881   $ 16,638      $ 622   $ 7,343      $ 966      $ 78   $ 2,536

Amortization of net loss

    (139     (28     (335     (212     —       (9     (109     —       —  

Amortization of prior service cost

    —          —          (768     —          —       —          —          —       —  

Settlement loss

    (808     —          (1,301     (591     —       (743     —          —       —  
                                                                 

Total recognized in other comprehensive loss

  $ (2,966   $ (16   $ (5,285   $ 15,835      $ 622   $ 6,591      $ 857      $ 78   $ 2,536
                                                                 

 

Assumptions and Investment Policies

 

Weighted-average assumptions used to calculate the projected benefit obligations of the Company’s defined benefit pension and retiree healthcare plans as of December 31, 2009 and 2008 are as follows:

 

     December 31, 2009     December 31, 2008  
     Defined
Benefit
    Retiree
Healthcare
    Defined
Benefit
    Retiree
Healthcare
 

U.S. assumed discount rate

   4.75   5.25   5.25   5.25

Non-U.S. assumed discount rate

   3.12   —        2.66   —     

U.S. average long-term pay progression

   4.00   —   (1)    4.00   —   (1) 

Non-U.S. average long-term pay progression

   3.20   —   (1)    3.23   —   (1) 

 

  (1)   Rate of compensation increase is not applicable to the Company’s retiree healthcare benefits as compensation levels do not impact earned benefits.

 

Weighted-average assumptions used to calculate the net periodic benefit cost of the Company’s defined benefit pension and retiree healthcare plans for the years ended December 31, 2009, 2008 and 2007 are as follows:

 

    For the year ended December 31,  
    2009     2008     2007  
    Defined
Benefit
    Retiree
Healthcare
    Defined
Benefit
    Retiree
Healthcare
    Defined
Benefit
    Retiree
Healthcare
 

U.S. assumed discount rate

  5.25   5.25   5.50   5.75   5.50   5.75

Non-U.S. assumed discount rate

  2.66   —        3.14   —        2.76   —     

U.S. average long-term rate of return on plan assets

  7.00   —        7.00   3.25   7.00   3.25

Non-U.S. average long-term rate of return on plan assets

  2.58   —        2.92   —        4.20   —     

U.S. average long-term pay progression

  4.00   —   (1)    4.00   —   (1)    4.00   —   (1) 

Non-U.S. average long-term pay progression

  3.23   —   (1)    3.12   —   (1)    2.88   —   (1) 

 

  (1)   Rate of compensation increase is not applicable to the Company’s retiree healthcare benefits as compensation levels do not impact earned benefits.

 

In order to select a discount rate for purposes of valuing the plan obligations the Company uses returns of long-term investment grade bonds. For non-U.S. plans, available indices are adjusted as needed to fit the estimated duration of the plan liabilities. For the U.S. plans an analysis is performed in which the projected cash flows from the defined benefit and retiree healthcare plans are matched with a yield curve based on an

 

F-43