The year-end status of the North American pension plans was as follows:
Pension Plans | ||||||||||||
December 31, | May 31, | |||||||||||
(in millions) | 2013 | 2013 | 2012 | |||||||||
Change in projected benefit obligation: | ||||||||||||
Benefit obligation at beginning of year | $ | 788.6 | - | $ | 743.3 | - | $ | 694.3 | ||||
Service cost | 4.6 | 6.5 | 5.6 | |||||||||
Interest cost | 19.0 | 32.6 | 34.5 | |||||||||
Plan amendments | - | 15.3 | - | |||||||||
Actuarial (gain) loss | (49.3) | 26.9 | 59.3 | |||||||||
Currency fluctuations | (11.8) | (0.4) | (15.5) | |||||||||
Benefits paid | (23.1) | (35.6) | (34.9) | |||||||||
Projected benefit obligation at end of year | $ | 728.0 | $ | 788.6 | $ | 743.3 | ||||||
Change in plan assets: | ||||||||||||
Fair value at beginning of year | $ | 707.6 | $ | 654.4 | $ | 630.0 | ||||||
Currency fluctuations | (9.1) | (0.3) | (12.9) | |||||||||
Actual return | 18.8 | 53.9 | 45.4 | |||||||||
Company contribution | 42.7 | 35.2 | 26.8 | |||||||||
Benefits paid | (23.1) | (35.6) | (34.9) | |||||||||
Fair value at end of year | $ | 736.9 | $ | 707.6 | $ | 654.4 | ||||||
Funded/(unfunded) status of the plans as of the end of the year | $ | 8.9 | $ | (81.0) | $ | (88.9) | ||||||
Amounts recognized in the consolidated balance sheets: | ||||||||||||
Noncurrent assets | $ | 30.2 | $ | 6.4 | $ | - | ||||||
Current liabilities | (0.6) | (0.6) | (0.6) | |||||||||
Noncurrent liabilities | (20.7) | (86.8) | (88.3) | |||||||||
Amounts recognized in accumulated other | ||||||||||||
comprehensive (income) loss | ||||||||||||
Prior service costs (credits) | $ | 24.9 | $ | 27.1 | $ | 13.2 | ||||||
Actuarial (gain)/loss | 73.1 | 125.4 | 131.3 |