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Consolidated financial statements at December 31, 2006
3. Change in projected benefit obligation Dec. 31, 2006 Dec. 31, 2005 Dec. 31, 2004
o/w US plans o/w US plans o/w US plans
Projected benefit obligation at beginning
of year 1,993.5
972.1
1,665.6
747.5
1,614.9
760.1
Service cost 54.2
18.1
51.8
15.9
48.5
14.8
Interest cost (impact of discounting) 93.4
52.0
92.9
50.5
87.9
48.7
Plan participants' contributions 5.6
0.0
5.5
0.0
3.3
0.0
Benefits paid (92.8)
(41.5)
(104.7)
(39.2)
(49.9)
(36.4)
Actuarial (gains)/losses recognized in equity 43.6
20.6
148.6
70.0
10.0
19.7
Modification of pension plan (0.3)
0.0
6.3
6.0
(0.8)
Changes in the scope of consolidation 28.3
0.0
2.4 11.6
Translation adjustments (98.5)
(103.7)
139.9
121.4
(59.9)
(59.4)
Other (including curtailments and settlements) 8.4
0.0
(14.8)
Projected benefit obligation at end of year 2,035.4
917.6
1,993.5
972.1
1,665.6
747.5
Actuarial gains and losses have been fully recognized in other reserves (note 14.7).
They stem from changes in actuarial assumptions (primarily the discount rates) used to measure obligations in
the United Kingdom, the euro zone and Canada.
Actuarial gains and losses related to experience adjustments amount to 12.1 million in the United States and
the United Kingdom.
4. Change in fair value of plan assets Dec. 31, 2006 Dec. 31, 2005 Dec. 31, 2004
o/w US plans o/w US plans o/w US plans
Fair value of plan assets at beginning of year 1,395.4
918.8
1,143.2
736.8
1,083.3
726.3
Expected return on plan assets 104.1
75.0
97.1
71.8
87.4
64.6
Plan participants' contributions 5.6
0.0
5.4 - 3.3 -
Employer contributions 19.6
5.1
34.4
23.6
18.2
1.0
Benefits paid (60.4)
(41.5)
(55.6)
(39.2)
(46.9)
(36.4)
Actuarial gains/(losses) recognized in equity 49.6
28.4
31.4
8.2
44.7
40.2
Modification of pension plan - - -
Changes in the scope of consolidation 0.4 0.7 0.8
Translation adjustments (105.8)
(99.0)
134.3
117.6
(47.6)
(58.9)
Other (including curtailments and settlements) 9.2 4.5
Fair value of plan assets at end of year 1,417.7
886.8
1,395.4
918.8
1,143.2
736.8
Actuarial gains and losses have been fully recognized in other reserves (note 14.7).
T
hey stem from changes in the effective and expected return on assets in the United States and the United Kingdom.
5. Funded status 31.12.2006 31.12.2005 31.12.2004
o/w US plans o/w US plans o/w US plans
Projected benefit obligation (2,035.4)
(917.6)
(1,993.5)
(972.1)
(1,665.6)
(747.5)
Fair value of plan assets 1,417.7
886.8
1,395.4
918.8
1,143.2
736.8
Effect of the asset ceiling - - - -
Deferred items:
Unrecognized past service cost 0.9
0.6
(1.9)
1.1
1.3
1.9
Net Asset/(Liability)
recognized in the balance sheet (616.8)
(30.2)
(600.0)
(52.2)
(521.1)
(8.8)
15.3 - Provision for other post-employment benefits
Changes in provisions for other post-employment and long-term benefits were as follows:
124