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Included in the United States in the preceding table is a benefit obligation of $36.0 million and $32.4 million for 2004 and 2003, respectively, related to an unfunded pension plan. The accrued liability related to this plan was $31.7 million and $27.6 million as of November 30, 2004 and 2003, respectively. The assets related to this plan are held in a Rabbi Trust and accordingly have not been included in the preceding table. These assets were $19.0 million and $14.4 million as of November 30, 2004 and 2003, respectively. 

Amounts recognized in the consolidated balance sheet consist of the following: 

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The accumulated benefit obligation is the present value of pension benefits (whether vested or unvested) attributed to employee service rendered before the measurement date and 

based on employee service and compensation prior to that date. The accumulated benefit obligation differs from the projected benefit obligation in that it includes no assumption about future compensation levels. The accumulated benefit obligation for the U.S. pension plans was $299.1 million and $281.2 million as of September 30, 2004 and 2003, respectively. The accumulated benefit obligation for the international pension plans was $124.9 million and $98.9 million as of November 30, 2004 and 2003, respectively. 

Minimum pension liability adjustments result when the accumulated benefit obligation exceeds the fair value of plan assets and are recorded so that the recorded pension liabil- ity is at a minimum equal to the accumulated benefit obligation. Minimum pension liability adjustments are non- cash adjustments that are reflected as an increase (or decrease) in the pension liability and an offsetting charge to shareholders’ equity, net of tax, through comprehensive income rather than net income. 

At the September 30, 2004 measurement date, the defi- ciency of the pension plans’ assets compared to the accumulated benefit obligations decreased resulting in a decrease in the minimum pension liability of $7.3 million. This amount was recorded as a decrease in accrued pension liability, a $4.4 million increase in other comprehensive income, a $2.8 million decrease in deferred taxes, and $0.1 million decrease in intangible assets. At the September 30, 2003 measurement date, the deficiency of the pension plans’ assets compared to the accumulated benefit obligations increased resulting in an increase in the minimum pension liability of $20.6 million. This amount was recorded as an increase in accrued pension liability, a $14.4 million decrease in other comprehensive income, a $6.4 million increase in deferred taxes and a $0.2 million decrease in intangible assets. 

The Company’s actual and target weighted-average asset allocations of U.S. pension plan assets as of September 30, 2004 and 2003, by asset category, are as follows: 

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The average actual and target asset allocations of the inter- national pension plans’ assets as of November 30, 2004 and 2003, by asset category, are as follows: 

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