Philips 2006 Annual Report Download - page 149
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Philips Annual Report 2006 149
2020
The table below provides a summary of the changes in the pension benefi t obligations and defi ned pension plan
assets for 2006 and 2005 and a reconciliation of the funded status of these plans to the amounts recognized in
the consolidated balance sheets:
2005 2006
Netherlands other total Netherlands other total
Projected benefi t obligation
Projected benefi t obligation at beginning of year 12,500 7,010 19,510 12,936 8,198 21,134
Service cost 211 132 343 198 129 327
Interest cost 557 392 949 531 411 942
Employee contributions 4 10 14 1 9 10
Actuarial (gains) losses 419 645 1,064 (325 ) 299 (26 )
Plan amendments (36 ) 1 (35 ) − 3 3
Curtailments − − − (185 ) (76 ) (261 )
1)
Settlements − (92 ) (92 ) (76 ) (103 ) (179 )
1)
Changes in consolidation (45 ) 47 2 − (173 ) (173 )
1)
Benefi ts paid (670 ) (444 ) (1,114 ) (684 ) (463 ) (1,147 )
Exchange rate differences − 500 500 − (223 ) (223 )
Miscellaneous (4 ) (3 ) (7 ) − 3 3
Projected benefi t obligation at end of year 12,936 8,198 21,134 12,396 8,014 20,410
Present value of funded obligations at end of year 12,913 7,162 20,075 12,378 7,154 19,532
Present value of unfunded obligations at end of year 23 1,036 1,059 18 860 878
Plan assets
Fair value of plan assets at beginning of year 13,129 5,499 18,628 14,491 6,339 20,830
Actual return on plan assets 1,701 794 2,495 559 491 1,050
Employee contributions 4 10 14 1 9 10
Employer contributions 319 48 367 232 696 928
Settlements − (87 ) (87 ) (79 ) (103 ) (182 )
2)
Changes in consolidations − 9 9 − (23 ) (23 )
2)
Benefi ts paid (662 ) (368 ) (1,030 ) (683 ) (393 ) (1,076 )
Exchange rate differences − 434 434 − (185 ) (185 )
Miscellaneous − − − − − −
Fair value of plan assets at end of year 14,491 6,339 20,830 14,521 6,831 21,352
Funded status 1,555 (1,859 ) (304 ) 2,125 (1,183 ) 942
1) of which EUR (237) million (curtailments); EUR (79) million (settlements other); EUR (173) million (changes in consolidation)
is discontinued operations
2) of which EUR (79) million (settlements other); EUR (23) million (changes in consolidation) is discontinued operations
226 Corporate governance224 Reconciliation of
non-US GAAP information
234 The Philips Group
in the last ten years
236 Investor information