XML 53 R43.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2011
U.S. pension plans [Member] |
Defined Benefit Plan Disclosure [Line Items] |
Funded status for pension plans |
|  | 2011 |  |  | 2010 |
Change in benefit obligation: |  |  |  |  |  |  |  |
Projected benefit obligation at beginning of period |  | $ | 54.8 |  |  | $ | 55.1 |
Service cost |  |  | 1.1 |  |  |  | 1.0 |
Interest cost |  |  | 4.8 |  |  |  | 2.8 |
Actuarial (gain) loss |  |  | 10.2 |  |  |  | (1.9 | )
Benefits paid |  |  | (9.3 | ) |  |  | (2.2 | )
Acquisition of Diversey |  |  | 150.5 |  |  |  | — |
Projected benefit obligation at end of period |  | $ | 212.1 |  |  | $ | 54.8 |
Change in plan assets: |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of period |  | $ | 40.8 |  |  | $ | 37.9 |
Actual gain on plan assets |  |  | 7.5 |  |  |  | 3.9 |
Employer contributions |  |  | 4.4 |  |  |  | 1.2 |
Benefits paid |  |  | (9.3 | ) |  |  | (2.2 | )
Acquisition of Diversey |  |  | 127.8 |  |  |  | — |
Fair value of plan assets at end of period |  |  | 171.2 |  |  |  | 40.8 |
Underfunded status at end of year |  | $ | (40.9 | ) |  | $ | (14.0 | )
Components of net periodic benefit cost |
|  | 2011 |  |  | 2010 |  |  | 2009 |
Components of net periodic benefit cost: |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 1.1 |  |  | $ | 1.0 |  |  | $ | 1.5 |
Interest cost |  |  | 4.8 |  |  |  | 2.8 |  |  |  | 3.1 |
Expected return on plan assets |  |  | (5.1 | ) |  |  | (2.7 | ) |  |  | (2.6 | )
Amortization of net prior service cost |  |  | 0.2 |  |  |  | 0.3 |  |  |  | 0.5 |
Amortization of net actuarial loss |  |  | 1.3 |  |  |  | 1.2 |  |  |  | 1.4 |
Net periodic benefit cost |  | $ | 2.3 |  |  | $ | 2.6 |  |  | $ | 3.9 |
Amounts in accumulated other comprehensive loss, net of taxes, not yet recognized |
Unrecognized prior service costs |  | $ | 0.5 |
Unrecognized net actuarial loss |  |  | 23.7 |
Total |  | $ | 24.2 |
Changes in plan assets and benefit obligations recognized in other comprehensive loss |
Current year actuarial gain |  | $ | 7.8 |
Amortization of actuarial loss |  |  | (1.3 | )
Amortization of prior service cost |  |  | (0.2 | )
Total recognized in other comprehensive loss |  | $ | 6.3 |
Amounts in accumulated other comprehensive loss expected to be recognized in next fiscal year |
Unrecognized prior service costs |  | $ | 0.2 |
Unrecognized net actuarial loss |  |  | 2.0 |
Total |  | $ | 2.2 |
Information for plans with accumulated benefit obligations in excess of plan assets |
Accumulated benefit obligation |  | $ | 207.5 |
Fair value of plan assets |  |  | 171.2 |
Weighted average assumptions used to determine benefit obligations |
|  | 2011 |  |  | 2010 |
Discount rate |  |  | 4.6 | % |  |  | 5.4 | %
Rate of compensation increase |  |  | 3.5 |  |  |  | 3.5 |
Weighted average assumptions used to determine net periodic benefit cost |
|  | 2011 |  |  | 2010 |  |  | 2009 |
Discount rate |  |  | 4.9 | % |  |  | 5.5 | % |  |  | 6.0 | %
Expected long-term rate of return |  |  | 6.7 |  |  |  | 7.3 |  |  |  | 8.0 |
Rate of compensation increase |  |  | 3.5 |  |  |  | 3.5 |  |  |  | 3.5 |
Estimated Future Benefit Payments |
Year |  | Amount |
2012 |  | $ | 11.4 |
2013 |  |  | 12.8 |
2014 |  |  | 11.7 |
2015 |  |  | 12.4 |
2016 |  |  | 14.7 |
2017 — 2021 |  |  | 71.7 |
Fair values of pension plan assets, by asset category and level of fair values |
Asset Category |  | Total Fair Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Cash and cash equivalents(1) |  | $ | 4.2 |  |  | $ | — |  |  | $ | 4.2 |  |  | $ | — |
Fixed income funds (2) |  |  | 96.4 |  |  |  | — |  |  |  | 96.4 |  |  |  | — |
Equity funds (3) |  |  | 64.8 |  |  |  | — |  |  |  | 64.8 |  |  |  | — |
Other (4) |  |  | 5.8 |  |  |  | — |  |  |  | 0.5 |  |  |  | 5.3 |
Total |  | $ | 171.2 |  |  | $ | — |  |  | $ | 165.9 |  |  | $ | 5.3 |
(1) | Short-term investment fund that invests in a collective trust that holds short-term highly liquid investments with principal preservation and daily liquidity as its primary objectives. Investments are primarily comprised of certificates of deposit, U.S. government treasuries, commercial paper, and time deposits.
(2) | A diversified portfolio of publicly traded government bonds, corporate bonds, and mortgage-backed securities. There are no restrictions on these investments and they are valued at the net asset value of the shares held at year end, which are supported by the value of the underlying securities and by the unit prices of actual purchase and sale transactions occurring as of or close to the financial statement date.
(3) | A diversified portfolio of publicly traded domestic and international common stock. There are no restrictions on these investments, and they are valued at the net asset value of the shares held at year end, which are supported by the values of the underlying securities and by the unit prices of actual purchase and sale transactions occurring as of or close to the financial statement date.
(4) | More than 90% is invested in real estate funds with less than $0.5 million invested in alternative investments such as private equity funds, hedge funds and commodities. The level 3 amount were from Diversey’s plans.
Non-U.S. pension plans [Member] |
Defined Benefit Plan Disclosure [Line Items] |
Funded status for pension plans |
|  | 2011 |  |  | 2010 |
Change in benefit obligation: |  |  |  |  |  |  |  |
Projected benefit obligation at beginning of period |  | $ | 285.9 |  |  | $ | 289.7 |
Service cost |  |  | 8.6 |  |  |  | 5.5 |
Interest cost |  |  | 23.1 |  |  |  | 15.5 |
Actuarial (gain) loss |  |  | 24.3 |  |  |  | (9.0) |
Settlement/curtailment |  |  | (6.9) |  |  |  | (2.3) |
Benefits paid |  |  | (20.7) |  |  |  | (13.0) |
Employee contributions |  |  | 2.3 |  |  |  | 1.4 |
Other |  |  | 3.0 |  |  |  | (1.3) |
Foreign exchange impact |  |  | (4.8) |  |  |  | (0.6) |
Acquisition of Diversey |  |  | 614.0 |  |  |  | — |
Projected benefit obligation at end of period |  | $ | 928.8 |  |  | $ | 285.9 |
Change in plan assets: |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of period |  | $ | 218.3 |  |  | $ | 204.0 |
Actual gain on plan assets |  |  | 31.9 |  |  |  | 15.8 |
Employer contributions |  |  | 23.5 |  |  |  | 9.3 |
Employee contributions |  |  | 2.3 |  |  |  | 1.4 |
Benefits paid |  |  | (20.7) |  |  |  | (13.0) |
Assets transferred to defined contribution plan |  |  | — |  |  |  | — |
Settlement/curtailment |  |  | (7.0) |  |  |  | (0.8) |
Other |  |  | 4.1 |  |  |  | (1.9) |
Foreign exchange impact |  |  | (2.8) |  |  |  | 3.5 |
Acquisition of Diversey |  |  | 501.2 |  |  |  | — |
Fair value of plan assets at end of period |  |  | 750.8 |  |  |  | 218.3 |
Underfunded status at end of year |  | $ | (178.0) |  |  | $ | (67.6) |
Amounts included in consolidated balance sheets |
|  | 2011 |  |  | 2010 |
Other assets |  | $ | 62.3 |  |  | $ | 6.1 |
Other current liabilities |  |  | (5.1) |  |  |  | (2.6) |
Other liabilities |  |  | (235.2) |  |  |  | (71.1) |
Net amount recognized |  | $ | (178.0) |  |  | $ | (67.6) |
Components of net periodic benefit cost |
|  | 2011 |  |  | 2010 |  |  | 2009 |
Components of net periodic benefit cost: |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 8.6 |  |  | $ | 5.5 |  |  | $ | 6.2 |
Interest cost |  |  | 23.1 |  |  |  | 15.5 |  |  |  | 14.4 |
Expected return on plan assets |  |  | (21.8 | ) |  |  | (13.0 | ) |  |  | (10.9 | )
Amortization of net prior service cost |  |  | 0.1 |  |  |  | 0.1 |  |  |  | 0.1 |
Amortization of net actuarial loss |  |  | 4.2 |  |  |  | 7.8 |  |  |  | 6.9 |
Net periodic benefit cost |  | $ | 14.2 |  |  | $ | 15.9 |  |  | $ | 16.7 |
Amounts in accumulated other comprehensive loss, net of taxes, not yet recognized |
Unrecognized prior service costs |  | $ | 0.5 |
Unrecognized net actuarial loss |  |  | 62.1 |
Total |  | $ | 62.6 |
Changes in plan assets and benefit obligations recognized in other comprehensive loss |
Current year actuarial loss |  | $ | 14.2 |
Amortization of actuarial loss |  |  | (4.2) |
Amortization of prior service cost |  |  | (0.1) |
Settlement/curtailment loss |  |  | (2.6) |
Other |  |  | (1.1) |
Effects of changes in foreign currency exchange rates |  |  | (0.2) |
Total recognized in other comprehensive loss |  | $ | 6.0 |
Amounts in accumulated other comprehensive loss expected to be recognized in next fiscal year |
Unrecognized prior service costs |  | $ | — |
Unrecognized net actuarial loss |  |  | 4.9 |
Total |  | $ | 4.9 |
Information for plans with accumulated benefit obligations in excess of plan assets |
Accumulated benefit obligation |  | $ | 504.9 |
Fair value of plan assets |  |  | 299.8 |
Weighted average assumptions used to determine benefit obligations |
|  | 2011 |  |  | 2010 |
Discount rate |  |  | 4.3% |  |  |  | 5.7% |
Rate of compensation increase |  |  | 2.8% |  |  |  | 3.5% |
Weighted average assumptions used to determine net periodic benefit cost |
|  | 2011 |  |  | 2010 |  |  | 2009 |
Discount rate |  |  | 4.6% |  |  |  | 5.6% |  |  |  | 6.0% |
Expected long-term rate of return |  |  | 5.8 |  |  |  | 6.8 |  |  |  | 6.6 |
Rate of compensation increase |  |  | 2.9 |  |  |  | 3.9 |  |  |  | 3.6 |
Estimated Future Benefit Payments |
Year |  | Amount |
2012 |  | $ | 40.6 |
2013 |  |  | 43.5 |
2014 |  |  | 39.3 |
2015 |  |  | 42.8 |
2016 |  |  | 45.0 |
2017 — 2021 |  | $ | 230.3 |
Fair values of pension plan assets, by asset category and level of fair values |
Asset Category |  | Total Fair Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Cash and cash equivalents(1) |  | $ | 15.3 |  |  | $ | 8.2 |  |  | $ | 7.1 |  |  | $ | — |
Fixed income funds(2) |  |  | 383.0 |  |  |  | — |  |  |  | 383.0 |  |  |  | — |
Equity funds(3) |  |  | 257.4 |  |  |  | — |  |  |  | 257.4 |  |  |  | — |
Insurance asset(4) |  |  | 15.4 |  |  |  | — |  |  |  | — |  |  |  | 15.4 |
Other (5) |  |  | 79.7 |  |  |  | — |  |  |  | 43.4 |  |  |  | 36.3 |
Total |  | $ | 750.8 |  |  | $ | 8.2 |  |  | $ | 690.9 |  |  | $ | 51.7 |
(1) | Short-term investment fund that invests in a collective trust that holds short-term highly liquid investments with principal preservation and daily liquidity as its primary objectives. Investments are primarily comprised of certificates of deposit, government securities, commercial paper, and time deposits.
(2) | Fixed income funds that invest in a diversified portfolio primarily consisting of publicly traded government bonds, corporate bonds and mortgage-backed securities. There are no restrictions on these investments, and they are valued at the net asset value of shares held at year end.
(3) | Equity funds that invest in a diversified portfolio of publicly traded domestic and international common stock, with an emphasis in European equities. There are no restrictions on these investments, and they are valued at the net asset value of shares held at year end.
(4) | Represents a guaranteed insurance contract for one of our European plans. This plan asset includes company and employee contributions and accumulated interest income at a guaranteed stated interest rate and provides for benefit payments and plan expenses.
(5) | The majority of these assets are invested in real estate funds in Diversey’s plans.
Reconciliation of plan asset measured using Level 3 inputs |
|  | Insurance Asset |
Balance at December 31, 2010 |  | $ | 14.6 |
Employer contributions |  |  | 1.0 |
Employee contributions |  |  | 0.4 |
Actual return on asset |  |  | (0.3) |
Benefits and expenses paid |  |  | (0.2) |
Foreign exchange impact |  |  | (0.1) |
Balance at December 31, 2011 |  | $ | 15.4 |

X
- Definition Components of net periodic benefit cost. + References No definition available. + Details
Name: | see_ComponentsOfNetPeriodicBenefitCostTableTextBlock
Namespace Prefix: | see_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Reconciliation of plan asset measured using Level 3 inputs. + References No definition available. + Details
Name: | see_ReconciliationOfPlanAssetMeasuredUsingLevelThreeInputsTableTextBlock
Namespace Prefix: | see_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Weighted average assumptions used to determine benefit obligations. + References No definition available. + Details
Name: | see_ScheduleOfWeightedAverageAssumptionsUsedToDetermineBenefitObligationsTableTextBlock
Namespace Prefix: | see_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DefinedBenefitPlanDisclosureLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 715 -SubTopic 20 -Publisher FASB -Number -Article -Subparagraph (d)(5) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income (loss) expected to be recognized as components of net periodic benefit cost over the next fiscal year, including the net gain (loss), net prior service cost or credit, and net transition asset or obligation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 715 -SubTopic 20 -Publisher FASB -Subparagraph (s) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsInAccumulatedOtherComprehensiveIncomeLossToBeRecognizedOverNextFiscalYearTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 715 -SubTopic 20 -Publisher FASB -Subparagraph (c) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 715 -SubTopic 20 -Publisher FASB -Number -Article -Subparagraph (i) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 715 -SubTopic 20 -Publisher FASB -Number -Article -Subparagraph (k) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the aggregate benefit obligation and aggregate fair value of plan assets for pension plans and/or other employee benefit plans with benefit obligations in excess of plan assets as of the measurement date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 715 -SubTopic 20 -Publisher FASB -Number -Article -Subparagraph (a) -Name Accounting Standards Codification -Paragraph 3 -Section 50 -URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e2417-114920 + Details
Name: | us-gaap_ScheduleOfBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 715 -SubTopic 20 -Publisher FASB -Number -Article -Subparagraph (f) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of net funded status of pension plans and/or other employee benefit plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 715 -SubTopic 20 -Publisher FASB -Number -Article -Subparagraph (c) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetFundedStatusTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income or loss that have not yet been recognized as components of net periodic benefit cost, such as the net gain (loss), net prior service cost or credit, and net transition asset or obligation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 715 -SubTopic 20 -Publisher FASB -Number -Article -Subparagraph (j) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetPeriodicBenefitCostNotYetRecognizedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration