Philips 2006 Annual Report Download - page 154
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Philips Annual Report 2006154
The components of the net period cost of postretirement benefi ts other than pensions are:
Netherlands other
2006
Service cost − 4
Interest cost on accumulated postretirement benefi t obligation − 26
Amortization of unrecognized transition obligation − 5
Net actuarial loss recognized − 4
Curtailments − −
Net periodic cost − 39
2005
Service cost 16 3
Interest cost on accumulated postretirement benefi t obligation 17 23
Amortization of unrecognized transition obligation 3 6
Net actuarial loss recognized 6 1
Curtailments (187 ) −
Net periodic cost
1) (145 ) 33
2004
Service cost 13 4
Interest cost on accumulated postretirement benefi t obligation 17 24
Amortization of unrecognized transition obligation 3 6
Net actuarial loss recognized 5 3
Curtailments − 3
Net periodic cost
2) 38 40
1) of which EUR (11) million (Netherlands EUR (13) million, other EUR 2 million) is related to discontinued operations
2) of which EUR 5 million (Netherlands EUR 3 million, other EUR 2 million) is related to discontinued operations
The estimated net loss and transition obligation for the other defi ned-benefi t postretirement plans that will be
amortized from accumulated other comprehensive income into net periodic benefi t cost over the next year (2007)
is EUR 2 million and EUR 5 million, respectively.
The weighted average assumptions used to calculate the postretirement benefi t obligations as of December 31
were as follows:
2005 2006
Netherlands other Netherlands other
Discount rate − 6.9% − 7.2%
Compensation increase (where applicable) − 5.6% − 5.6%
The weighted average assumptions used to calculate the net cost for years ended December 31:
2005 2006
Netherlands other Netherlands other
Discount rate 4.5% 6.6% − 6.9%
Compensation increase (where applicable) − 5.3% − 5.6%
112 Group fi nancial statements
Notes to the group fi nancial statements
172 IFRS information 218 Company fi nancial statements