Philips 2007 Annual Report Download - page 164
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Philips Annual Report 2007170
The components of the net periodic cost of postretirement benets other than pensions are:
total
2007
Service cost 3
Interest cost on accumulated postretirement benet obligation 26
Amortization of unrecognized transition obligation 5
Net actuarial loss recognized 2
Curtailments −
Net periodic cost 36
Items recognized in other comprehensive income (not applicable for 2006 and 2005)
Current year
Net actuarial loss (gain) 58
Prior-service cost (credit) (6)
Transition obligation (2)
Reclassied/included in pension costs
Amortization of net actuarial gains and losses (2)
Amortization of prior service costs/credits −
Amortization of transition amounts (5)
43
Recognized in net periodic benet cost and other comprehensive income 79
2006
Service cost 4
Interest cost on accumulated postretirement benet obligation 26
Amortization of unrecognized transition obligation 5
Net actuarial loss recognized 4
Curtailments −
Net periodic cost 39
2005
Service cost 19
Interest cost on accumulated postretirement benet obligation 40
Amortization of unrecognized transition obligation 9
Net actuarial loss recognized 7
Curtailments (187)
Net periodic cost1) (112)
1) Of which EUR (11) million is related to discontinued operations
The estimated net loss and transition obligation for the other dened-
benet postretirement plans that will be amortized from accumulated
other comprehensive income into net periodic benet cost over the
next year (2008) is EUR 8 million and EUR 5 million, respectively.
The weighted average assumptions used to calculate the postretirement
benet obligations as of December 31 were as follows:
2006 2007
Discount rate 7.2% 8.5%
Compensation increase (where applicable) 5.6% −
The weighted average assumptions used to calculate the net cost
for years ended December 31:
2006 2007
Discount rate 6.9% 7.2%
Compensation increase (where applicable) 5.6% −
Assumed healthcare cost trend rates at December 31:
2006 2007
Healthcare cost trend rate assumed for next year 8.0% 9.0%
Rate that the cost trend rate will gradually reach 5.0% 7.0%
Year of reaching the rate at which it is assumed
to remain 2014 2015
128 Group nancial statements
Notes to the group nancial statements
188 IFRS information 240 Company nancial statements