APC 2009 Annual Report Download - page 159

2009 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 157
CONSOLIDATED FINANCIAL STATEMENTS
5
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Dec. 31, 2009 Dec. 31, 2008
2. Change in projected benefi t obligation
Projected benefi t obligation at beginning of year 401 366
Service cost 45
Interest cost (effect of discounting) 21 21
Plan participants’ contributuion 21
Benefi ts paid (25) (24)
Actuarial (gains)/losses recognised in equity 11 21
Past service cost - (6)
Changes in the scope of consolidation --
Translation adjustments (9) 17
Other (including curtailments and settlements) 1 -
PROJECTED BENEFIT OBLIGATION AT END OF YEAR 406 401
Actuarial gains and losses have been fully recognised in Other
Comprehensive Income. The only exception concerns long-term
benefi ts for active employees (notably long service awards in France),
for which the actuarial gain or loss is recognised in the income
statement. Actuarial gains and losses stem from changes in actuarial
assumptions (primarily discount rates).
Actuarial losses related to experience adjustments amounted to
EUR 18million at December 31, 2009 for the Group, compared
with EUR 10million at December 31, 2008. At December 31, 2007,
actuarial gains related to experience adjustments amounted to
EUR 59million and to EUR 23million at December 31, 2006.
Dec. 31, 2009 Dec. 31, 2008
3. Funded status
Projected benefi t obligation (406) (401)
Deferred items:
Unrecognized past service cost (29) (35)
PROVISION RECOGNISED IN THE BALANCE SHEET (435) (436)
Amounts related to other post-employment obligations as of 2009 and the four previous periods are as follows:
Dec. 31, 2009 Dec. 31, 2008 Dec. 31, 2007 Dec. 31, 2006 Dec. 31, 2005
4. Historical data
Projected benefi t obligation (406) (401) (366) (477) (544)
Deferred items:
Unrecognized past service cost (29) (35) (33) (40) (50)
PROVISION RECOGNISED
IN THE BALANCE SHEET (435) (436) (399) (517) (594)