Sony 2003 Annual Report Download - page 198

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Consolidated Financial Information 2003
- 112 -
Japanese plans Foreign plans
Yen in millions
Dollars in
millions
Yen in millions
Dollars in
millions
March 31 March 31, March 31 March 31,
2002 2003 2003 2002 2003 2003
Funded status ¥412,464 ¥626,512 $5,221 ¥60,608 ¥89,643 $747
Unrecognized actuarial loss (325,637) (513,012) (4,275) (26,040) (38,702) (322)
Unrecognized net transition asset 1,229 854 7 (97) (180) (2)
Unrecognized prior service cost 22,518 21,579 180 1,668 1,283 11
Net amount recognized ¥110,574 ¥135,933 $1,133 ¥36,139 ¥52,044 $434
Amounts recognized in the
consolidated balance sheet consist of:
Accrued pension and severance
costs, including current portion
¥258,597 ¥444,636 $3,705 ¥36,139 ¥72,048 $600
Intangibles (23,602) (22,433) (187)
− (128) (1)
Accumulated other comprehensive
income
(124,421)
(286,270) (2,385) − (19,876)
(165)
Net amount recognized ¥110,574 ¥135,933 $1,133 ¥36,139 ¥52,044 $434
Weighted-average assumptions used as of March 31, 2001, 2002 and 2003 were as follows:
Japanese plans:
March 31
2001 2002 2003
Discount rate 2.7% 2.4% 1.9%
Expected return on plan assets 4.0% 4.0% 4.0%
Rate of compensation increase 3.0% 3.0% 3.0%
Foreign plans:
March 31
2001 2002 2003
Discount rate 6.8% 6.6% 6.3%
Expected return on plan assets 7.7% 8.1% 8.3%
Rate of compensation increase 4.6% 4.5% 4.1%
As required under FAS No. 87, “Employers’ Accounting for Pensions”, the assumptions are reviewed in
accordance with changes in circumstances.
Under FAS No. 87, Sony has recorded a pension liability to cover the amount of the projected benefit
obligation in excess of plan assets, considering unrealized items and the minimum pension liability. The