NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (Dollars in millions except per share data) The following tables present the benefit obligation and funded status of the plans for the period subsequent to the spin-off. A summary of nonqualified ENR stock options outstanding is as  follows (shares in millions). Energizer has several defined benefit pension plans covering  substantially all of its employees in the United States and certain employees in other countries. The plans provide retirement benefits based on years of service and earnings. Certain other foreign pension arrangements, that include various retirement and termination benefit plans, some of which are required by local law or coordinated with government-sponsored plans, are not significant in the aggregate.  Energizer currently provides other postretirement benefits,  consisting of health care and life insurance benefits for certain groups of retired employees. Retiree contributions for health care benefits are adjusted periodically, and it is expected that such adjustments will continue into the future. Prior to the spin-off, Energizer employees participated in Ralston’s defined benefit plans. In addition, certain groups of retirees and management employees were eligible for certain postretirement  benefits provided by Ralston. See further discussion of pre-spin pension and postretirement benefits below. The following pension and other postretirement benefit information is presented in accordance with SFAS 132, “Employers’ Disclosures about Pensions and Other Postretirement Benefits.” For pension plans with accumulated benefit obligations in  excess of plan assets, the projected benefit obligation was  $9.4 at September 30, 2000. There are no plan assets for  these nonqualified plans as of September 30, 2000. ENERGIZER 2000 ANNUAL REPOR 36 (9) PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS  September 30, 2000 Pension Postretirement Change in Benefit Obligation: Benefit obligation at April 1, 2000 $ 345.6 $ 77.6 Service cost 7.8 0.1 Interest cost 11.8 2.8 Plan participants’ contributions 0.2 – Actuarial (gain)/ loss (1.3) 4.2 Benefits paid (10.0) (1.0) Foreign currency exchange  rate changes (7.0) – Amendments 4.5 – Benefit obligation at end of year $ 351.6 $ 83.7 Change in Plan Assets: Fair value of plan assets at  April 1, 2000 $ 558.9 $ 1.7 Actual return on plan assets 16.6 0.2 Company contributions 1.2 1.0 Plan participants’ contributions 0.2 1.0 Benefits paid  (10.0) (2.0) Foreign currency exchange  rate changes (9.2) – Fair value of plan assets at  end of year $ 557.7 $ 1.9 Funded Status: Funded status of the plan $ 206.1 $ (81.8) Unrecognized net loss/(gain) (113.0) (2.3) Unrecognized prior service cost 0.4 (3.6) Unrecognized net transition asset 1.1 Prepaid/(accrued) benefit cost $ 94.6 $ (87.7) Amounts Recognized in the Consolidated Balance Sheet: Prepaid benefit cost $ 102.0 $ – Accrued benefit liability (9.4) (87.7) Intangible asset 0.2 – Accumulated other  comprehensive income 1.8 – Net amount recognized $ 94.6 $ (87.7) 2000 Weighted-Average  Shares Exercise Price Outstanding on October 1 – $ – Granted 7.37 17.41 Exercised – – Cancelled – – Outstanding on September 30 7.37 17.41 Exercisable on September 30 – $ –