APC 2012 Annual Report Download - page 209

2012 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 207
CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER31, 2012
5
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Full year 2012 Full year 2011
2. Change in projected benefi t obligation
Projected benefi t obligation at beginning of year 440 445
Service cost 17 7
Interest cost (effect of discounting) 18 20
Plan participants’ contribution 22
Benefi ts paid (29) (21)
Actuarial (gains)/losses recognized in equity 29 20
Past service cost (23) (41)
Changes in the scope of consolidation 21 (1)
Translation adjustments (7) 9
Other (including curtailments and settlements) 2 -
PROJECTED BENEFIT OBLIGATION AT END OF YEAR 470 440
Actuarial gains and losses have been fully recognized in Other
reserves except for long-term benefi ts for active employees,
notably long service awards in France, for which all actuarial gains
and losses are recognized in the income statement. Actuarial gains
and losses stem from changes in actuarial assumptions (primarily
discount rates).
At December 31, 2012, actuarial losses relative to the effects of
experience on healthcare costs, life insurance and other post-
employment benefi ts totaled EUR11million for the Group. Actuarial
losses totaled EUR21million at December31, 2011.
Dec.31, 2012 Dec.31, 2011
3. Funded status
Projected benefi t obligation (470) (440)
Deferred items:
Unrecognized past service cost (18) (20)
PROVISION RECOGNIZED IN BALANCE SHEET (488) (460)
Amounts related to healthcare costs and other post-employment obligations as of2012 and the fi ve previous periods are as follows:
Dec.31, 2012 Dec.31, 2011 Dec.31, 2010 Dec.31, 2009 Dec.31, 2008
4. Historical data
Projected benefi t obligation (470) (440) (445) (406) (401)
Deferred items:
Unrecognized past service cost (18) (20) (27) (29) (35)
PROVISION RECOGNIZED IN BALANCE SHEET (488) (460) (472) (435) (436)