APC 2014 Annual Report Download - page 223

CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER31,2014
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
22.1 – Changes in provisions for pensions and other post-employment benefit obligations
Changes in provisions for pensions and other post-employment benefit obligations (net of plan assets) were as follows:
Other post- Provisions
employment for pensions other
Pensions and Of which SE Of which SEand long- post-employment
termination benefits USA term benefits USA benefits
Dec.31, 2012 1,489 491 470 314 1,959
Net cost recognized in thestatement of
(33) 25 (1) (21) (34)income
Benefits paid (44) - (32) (19) (76)
Plan participants’ contributions (64) (35) 2 2 (62)
Actuarialitemsrecognizedinequity (262) (196) 6 (5) (256)
Translation adjustment (32) (14) (18) (12) (50)
Changes in the scope ofconsolidation 3 3 (4) - (1)
Other changes 4 - 1 2 5
Dec.31, 2013 1,061 274 424 261 1,485
Net cost recognized in thestatement of
46 16 41 13 87income
Benefits paid (46) 0 (37) (13) (83)
Planparticipants’contributions (10) (47) - - (10)
Actuarialitemsrecognizedinequity 337 126 39 21 376
Translation adjustment 62 47 44 38 106
Changes in the scope ofconsolidation 10 - 1 - 11
Other changes (1) (3) - - (1)
Dec.31, 2014 1,459 413 512 320 1,971
Surplus of plans recognized as assets (228) - - - (228)
Provisions recognized as liabilities 1,687 - 512 - 2,199
The net effect of Invensys acquisition on the balance sheet SE guaranteed all obligations of the Invensys subsidiaries which
provision is EUR11million, because obligations are totally covered participate in the Scheme, up to a maximum amount of
5
by plan assets. GBP1.75billion. At December 31, 2014, plan assets exceed the
value of obligations subject to this guarantee and thus this
Following the agreement reached with the Trustee of the Invensys guarantee cannot be called.
Pension scheme in the UK on February 2014, Schneider Electric
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