Other than  Pension Plans Pension Plans 2003 2002 2001 2003 2002 2001 2003 2002 2001 Weighted-average assumptions Pre-retirement discount rate 5.75% 7.00% 7.50% 2.75– 2.75– 3.00– 5.75% 7.00% 7.50% 7.00% 7.00% 7.25% Postretirement discount rate 4.75% 5.75% 6.00% — — — — — — Expected return on assets 8.50% 9.00% 9.00% 4.50– 4.50– 5.00– N/A N/A N/A 8.25% 8.25% 8.50% Rate of compensation increase 3.00– 4.50– 5.00– 1.75– 1.75– 2.00– N/A N/A N/A 9.50% 11.00% 11.50% 4.00% 4.00% 5.50% Components of net periodic  benefit cost (In millions) Service cost, net $ 15.1 $ 13.5 $ 12.3 $8 . 5 $ 8.0 $ 8.0 $2.2 $ 1.8 $ 1.9 Interest cost 21.2 20.6 19.7 8.1 7.2 6.7 3.2 2.9 3.0 Expected return on assets (18.3) (17.3) (16.2) (9.2) (8.3) (7.4) — — — Amortization of: Transition (asset) obligation (1.5) (1.5) (1.4) 0.3 0.2 0.2 — — — Prior service cost 0.2 0.4 0.4 0.2 0.2 0.2 — — — Actuarial loss (gain) 5.1 2.6 1.1 1.5 1.0 0.9 (0.1) (0.4) (0.2) Settlements and curtailments — — — 2.3 — — — — — Net periodic benefit cost $ 21.8 $ 18.3 $ 15.9 $11.7 $ 8.3 $ 8.6 $5.3 $ 4.3 $ 4.7 Postretirement International U.S. One-Percentage-Point Increase One-Percentage-Point Decrease (In millions) Effect on total service and interest costs $0.7 $(0.6) Effect on postretirement benefit obligations $6.8 $(6.1) 2003 2002 2003 2002 2003 2002 (In millions) Projected Benefit Obligation $286.6 $244.7 $72.1 $65.6 $191.0 $154.7  Accumulated Benefit Obligation 238.7 191.5 56.4 47.3 160.7 127.9 Fair Value of Plan Assets 277.4 201.8 — — 120.9 116.3 International Restoration Retirement  Growth Account THEEST{E LAUDER COMPANIES INC. 74 Pension Plans The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the Company’s pension plans at June 30 are as follows: Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. A one- percentage-point change in assumed health care cost trend rates for fiscal 2003 would have had the following effects: