Philips 2007 Annual Report Download - page 160

Philips Annual Report 2007166
The components of net periodic pension costs and other amounts recognized in Other comprehensive income
were as follows:
Netherlands other total
2007
Service cost 147 118 265
Interest cost on the projected benet obligation 521 399 920
Expected return on plan assets (813) (384) (1,197)
Net amortization of unrecognized net transition assets/liabilities − − −
Net acturial (gain) loss recognized (6) 79 73
Amortization of prior-service cost (43) 14 (29)
Settlement loss − (7) (7)
Curtailment gain − 2 2
Net periodic cost (income) (194) 221 27
Items recognized in other comprehensive income (not applicable for 2006 and 2005)
Current year
- Net actuarial loss (gain) (174) (139) (313)
- Prior service cost (credit) − (2) (2)
Reclassied/included in pension costs
- Amortization of net actuarial gains and losses 6 (79) (73)
- Amortization prior service costs (credits) 43 (14) 29
(125) (234) (359)
Recognized in net periodic benet cost and other comprehensive income (319) (13) (332)
2006
Service cost 198 129 327
Interest cost on the projected benet obligation 531 411 942
Expected return on plan assets (808) (390) (1,198)
Net amortization of unrecognized net transition assets/liabilities − 1 1
Net actuarial (gain) loss recognized (49) 84 35
Amortization of prior-service cost (56) 25 (31)
Settlement loss 8 2 10
Curtailment gain (21) (1) (22)
Other 5 23 28
Net periodic cost (income)1) (192) 284 92
2005
Service cost 211 132 343
Interest cost on the projected benet obligation 557 392 949
Expected return on plan assets (739) (360) (1,099)
Net amortization of unrecognized net transition assets/liabilities − 1 1
Net actuarial (gain) loss recognized (28) 44 16
Amortization of prior-service cost (57) 27 (30)
Settlement loss − 12 12
Curtailment loss − − −
Other (4) (1) (5)
Net periodic cost (income)2) (60) 247 187
1) Of which EUR 17 million (Netherlands EUR (12) million, other EUR 29 million) is related to discontinued operations
2) Of which EUR 30 million (Netherlands EUR (5) million, other EUR 35 million) is related to discontinued operations
The estimated net actuarial loss and prior-service cost (credit) for the dened-benet pension plans that will
be amortized from accumulated other comprehensive income into net periodic benet cost over next year (2008)
are EUR 46 million and EUR (33) million, respectively.
The Company also sponsors dened-contribution and similar types of plans for a signicant number of salaried employees.
The total cost of these plans amounted to EUR 84 million (2006: EUR 80 million, 2005: EUR 56 million). In 2007, the dened-contribution
cost includes contributions to multi-employer plans of EUR 4 million (2006: EUR 4 million, 2005: EUR 3 million).
128 Group nancial statements
Notes to the group nancial statements
188 IFRS information 240 Company nancial statements