Siemens 2012 Annual Report Download - page 265

135 D. Consolidated Financial Statements 239 E. Additional Information
140 D. Consolidated Statements of Changes in Equity
142 D. Notes to Consolidated Financial Statements
232 D. Supervisory Board and Managing Board
136 D. Consolidated Statements of Income
137 D. Consolidated Statements of Comprehensive Income
138 D. Consolidated Statements of Financial Position
139 D. Consolidated Statements of Cash Flow

In addition to the above, the Company has foreign defined con-
tribution plans for pensions and other post-employment bene-
fits or makes contributions to social pension funds based on
legal regulations (state plans). The recognition of a liability is
not required because the obligation of the Company is limited
to the payment of the contributions into these plans or funds.
 
The pension benefit plans cover , participants, includ-
ing , active employees, , former employees with
vested benefits and , retirees and surviving depen-
dents. Individual benefits are generally based on eligible com-
pensation levels and / or ranking within the Company hierarchy
and years of service. Retirement benefits under these plans
vary depending on legal, fiscal and economic requirements in
each country. The majority of Siemens’ active employees in
Germany participate in a pension scheme introduced in fiscal
, the BSAV (Beitragsorientierte Siemens Altersversor-
gung). The BSAV is a funded defined benefit pension plan
whose benefits are predominantly based on contributions
made by the Company and returns earned on such contribu-
tions, subject to a minimum return guaranteed by the Company.
The BSAV is funded via the BSAV Trust. In connection with the
implementation of the BSAV, benefits provided under defined
benefit pension plans funded via the Siemens German Pension
Trust were modified to substantially eliminate the effects of
compensation increases by freezing the accrual of benefits un-
der the majority of these plans.
The Company ’s pension benefit plans are explicitly explained
in the subsequent sections with regard to:
> Pension obligations, plan assets and funded status,
> Components of NPBC,
> Amounts recognized in the Consolidated Statements of
Comprehensive Income,
> Assumptions used for the calculation of the DBO and NPBC,
> Sensitivity analysis,
> Plan assets and
> Pension benefit payments.
Pension benefits: pension obligations,
plan assets and funded status
A reconciliation of the funded status of the pension benefit
plans to the amounts recognized in the Consolidated Statements
of Financial Position is as follows:
September ,  September , 
(in millions of €) Total Domestic Foreign Total Domestic Foreign
Fair value of plan assets 24,052 13,956 10,096 20,965 12,309 8,656
Total defined benefit obligation 33,020 19,999 13,021 27,121 16,624 10,497
Defined benefit obligation (funded) 31,945 19,794 12,151 26,189 16,406 9,783
Defined benefit obligation (unfunded) 1,075 205 870 932 218 714
Funded status (8,968) (6,043) (2,925) (6,156) (4,315) (1,841)
Germany (6,043) (6,043) (4,315) (4,315)
U.S. (1,276) (1,276) (1,083) (1,083)
U.K. (248) (248) 148 148
Other (1,401) (1,401) (906) (906)
Unrecognized past service cost (benefits) (69) – (69) (84) – (84)
Effects due to asset ceiling (170) – (170) (163) – (163)
Net amount recognized (9,207) (6,043) (3,164) (6,403) (4,315) (2,088)
Amounts recognized in the Consolidated
Statements of Financial Position consist of:
Pension asset 39 – 39 149 – 149
Pension liability (9,246) (6,043) (3,203) (6,552) (4,315) (2,237)
The fair value of plan assets, DBO and funded status as of Sep-
tember , , amounted to €, million, €, million
and €(,) million, respectively. As of September , , the
fair value of plan assets, DBO and funded status were €,
million, €, million and €(,) million. As of September
, , the fair value of plan assets, DBO and funded status
were €, million, €, million and €(,) million.
A detailed reconciliation of the changes in the DBO and in plan
assets for fiscal  and  as well as additional information
by country is provided in the following tables (DBO and fair
value of plan assets at beginning of fiscal  and reconcilia-
tion items for fiscal  are presented inclusive of OSRAM in
order to conform to the prior-year presentation):