Siemens 2005 Annual Report Download - page 180

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For fiscal 2005 and 2004, the PBO, ABO and fair value of plan assets for the principal pension
benefit plans whose ABO exceeded the fair value of plan assets at the measurement date were as
follows:
The underfunded ABO of €2,751 (the Minimum Liability) was recorded as an accrued pension
liability. Subsequent to the measurement date, the accrued pension liability was reduced by cash
contributions in the U.S. of €43. Including a pension liability of €41 for principal pension benefit
plans whose ABO was not underfunded at their measurement date, the total pension liability for
the principal pension benefit plans as of September 30, 2005 totaled €2,749.
Excluding the AML adjustment, the Company has a net prepaid pension asset of €7,884, prima-
rily related to the transfer of Infineon shares to the domestic pension plans in fiscal 2001 and
from the supplemental funding of the domestic pension plans in the past years. This amount
together with the underfunded ABO of €2,751, resulted in an AML adjustment of €10,635. Of this
amount, €10,573 (€6,749 net of tax) was recorded in AOCI as a separate component of sharehold-
ers’ equity and €62 was recorded as an intangible asset.
Management’s discussion and analysis
September 30, 2005 September 30, 2004
Total Domestic Foreign Total Domestic Foreign
Projected benefit obligation 24,569 15,932 8,637 18,446 13,851 4,595
Germany 15,932 13,851
U.S. 3,881 866
U.K. 3,098 2,200
Other 1,658 1,529
Accumulated benefit obligation 23,686 15,853 7,833 17,829 13,757 4,072
Germany 15,853 13,757
U.S. 3,476 776
U.K. 2,749 1,966
Other 1,608 1,330
Fair value of plan assets 20,935 14,349 6,586 15,467 11,965 3,502
Germany 14,349 11,965
U.S. 2,973 586
U.K. 2,253 1,643
Other 1,360 1,273
Underfunding of accumulated benefit obligation (2,751) (1,504) (1,247) (2,362) (1,792) (570)
Germany (1,504) (1,792)
U.S. (503) (190)
U.K. (496) (323)
Other (248) (57)