APC 2006 Annual Report Download - page 127
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125
5
Note 16 - Provisions for contingencies
1. Components of net cost Dec. 31, 2006 Dec. 31, 2005 Dec. 31, 2004
recognized in the statement of income
Service cost 6.2 6.0 6.4
Interest cost (impact of discounting) 25.2 24.6 26.2
Expected return on plan assets - - -
Past service cost (5.0) (8.0) (5.1)
Net cost recognized in the statement of income 26.4 22.6 27.5
2. Change in projected benefit obligation Dec. 31, 2006 Dec. 31, 2005 Dec. 31, 2004
Projected benefit obligation at beginning of year 543.6 471.0 489.8
Service cost 6.2 6.0 6.4
Interest cost (effect of discounting) 25.2 24.6 26.2
Plan participants' contribution 1.7 1.3 0.7
Benefits paid (27.2) (23.5) (23.6)
Actuarial (gains)/losses recognized in equity (23.7) 14.9 0.9
Past service cost (16.3)
Changes in the scope of consolidation (0.7) 3.0
Translation adjustments (48.1) 67.1 (30.3)
Other (including curtailments and settlements) 0.2 (4.5) 0.9
Projected benefit obligation at end of year 477.2 543.6 471.0
Actuarial gains and losses have been fully recognized in other reserves (note 14.7). They stem from changes in
actuarial assumptions (primarily the discount rate). Substantially all plan changes concern the United States.
3. Funded status Dec. 31, 2006 Dec. 31, 2005 Dec. 31, 2004
Projected benefit obligation 477.2 543.6 471.0
Deferred items:
Unrecognized past service cost 39.7 49.8 34.0
Provision recognized in the balance sheet 516.9 593.4 505.0
Economic Customer Product Environmental Restructuring Other Provisions
risks risks risks risks
Dec. 31, 2004 59.6 47.0 120.3 34.7 108.0 59.2 428.8
Long-term portion 55.6 47.0 32.1 34.7 22.9 192.3
Additions 16.9 9.1 63.8 2.4 68.5 25.1 185.8
Discounting effect 0.3 4.8 (0.4) 0.6 (0.8) 0.5 5.0
Utilizations (5.6) (8.0) (51.0) (2.6) (81.9) (8.6) (157.7)
Reversals of surplus provisions (3.1) - (10.3) - (11.3) (3.0) (27.7)
Translation adjustments 2.2 7.7 8.7 1.7 3.6 3.7 27.6
Changes in the scope
of consolidation and other 4.8 7.1 8.8 2.9 7.7 (6.4) 24.9
Dec. 31, 2005 75.1 67.7 139.9 39.7 93.8 70.5 486.7
Long-term portion 37.0 43.6 34.4 32.6 20.0 42.4 210.0
Additions 99.5 7.6 70.9 5.6 49.9 25.8 259.3
Discounting effect (0.3) 0.0 0.2 0.3 0.3 0.0 0.5
Utilizations (9.9) (10.2) (59.0) (1.6) (53.8) (9.3) (143.8)
Reversals of surplus provisions (7.5) (1.0) (17.6) (0.3) (1.6) (4.7) (32.7)
Translation adjustments (0.5) (5.8) (5.1) (1.2) (1.2) (5.9) (19.7)
Changes in the scope
of consolidation and other 4.5 (1.5) 16.1 1.3 (2.8) 1.9 19.5
Dec. 31, 2006 160.9 56.8 145.4 43.8 84.6 78.3 569.8
Long-term portion 83.8 50.0 34.9 32.1 15.2 67.1 283.1