Philips 2005 Annual Report Download - page 157

Philips Annual Report 2005 157
Thetablebelowprovidesasummaryofthechangesinthepensionbenetobligationsanddenedpensionplanassetsfor2005and2004anda
reconciliation of the funded status of these plans to the amounts recognized in the consolidated balance sheets:
2004 2005
Netherlands other total Netherlands other total
Projected benet obligation
Projectedbenetobligationatbeginningofyear 12,357 6,567 18,924 12,500 7,010 19,510
Service cost 175 128 303 211 132 343
Interest cost 598 386 984 557 392 949
Employee contributions 18 11 29 4 10 14
Actuarial losses 1,226 412 1,638 419 645 1,064
Plan amendments (766) −(766) (36) 1 (35)
Settlements (468) (14) (482) −(92) (92)
Changes in consolidation −152 152 (45) 47 2
Benetspaid (638) (440) (1,078) (670) (444) (1,114)
Exchange rate differences −(197) (197) −500 500
Miscellaneous (2) 5 3 (4) (3) (7)
Projected benet obligation at end of year 12,500 7,010 19,510 12,936 8,198 21,134
Present value of funded obligations at end of year 12,425 6,070 18,495 12,913 7,162 20,075
Present value of unfunded obligations at end of year 75 940 1,015 23 1,036 1,059
Plan assets
Fair value of plan assets at beginning of year 12,495 5,254 17,749 13,129 5,499 18,628
Actual return on plan assets 1,474 617 2,091 1,701 794 2,495
Employee contributions 18 11 29 4 10 14
Employer contributions 252 119 371 319 48 367
Settlements (480) (14) (494) −(87) (87)
Changes in consolidation −44 44 −9 9
Benetspaid (630) (368) (998) (662) (368) (1,030)
Exchange rate differences −(167) (167) −434 434
Miscellaneous −3 3 −−−
Fair value of plan assets at end of year 13,129 5,499 18,628 14,491 6,339 20,830
Funded status 629 (1,511) (882) 1,555 (1,859) (304)
Unrecognized net transition obligation −3 3 −2 2
Unrecognized prior-service cost (723) 108 (615) (702) 89 (613)
Unrecognized net loss 1,050 1,113 2,163 490 1,367 1,857
Net balances 956 (287) 669 1,343 (401) 942
Classication of the net balances is as follows:
Prepaid pension costs under other non-current
assets
•
1,031 298 1,329 1,366 310 1,676
Accrued pension costs under other non-current
liabilities
•
−(451) (451) −(665) (665)
Provisions for pensions under provisions• (75) (904) (979) (23) (976) (999)
Intangible assets• −107 107 −86 86
Deferred income tax assets• −234 234 −299 299
Accumulated other comprehensive income• −429 429 −545 545
956 (287) 669 1,343 (401) 942
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