Sony 2006 Annual Report Download - page 116

Download and view the complete annual report

Please find page 116 of the 2006 Sony annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 146

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146

114
Foreign plans:
Dollars in
Yen in millions millions
Years ended March 31 2004 2005 2006 2006
Service cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
¥11,252 ¥ 6,419 ¥ 6,852 $ 59
Interest cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8,566 8,091 8,318 71
Expected return on plan assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(6,812) (6,712) (7,112) (61)
Amortization of net transition asset . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(27) (18) 21 0
Recognized actuarial loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1,569 1,637 1,674 14
Amortization of prior service cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(117) (114) (240) (2)
Losses on curtailments and settlements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5,574 1,713 915 8
Net periodic benefit cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
¥20,005 ¥11,016 ¥10,428 $ 89
The changes in benefit obligation and plan assets, funded status and composition of amounts recognized in the consolidated
balance sheets were as follows:
Japanese plans Foreign plans
Dollars in Dollars in
Yen in millions millions Yen in millions millions
March 31 2005 2006 2006 2005 2006 2006
Change in benefit obligation:
Benefit obligation at beginning of the fiscal year . . . . . . . . . . . .
¥ 993,542 ¥ 901,726 $ 7,707 ¥155,838 ¥153,598 $1,313
Service cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
31,971 26,561 227 6,419 6,852 59
Interest cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
21,364 16,504 141 8,091 8,318 71
Plan participants’ contributions . . . . . . . . . . . . . . . . . . . . . . . .
2,111 ——873 609 5
Amendments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(120,873) (11,522) (98) 286 238 2
Actuarial (gain) loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1,641 (3,200) (27) 12,210 20,183 173
Foreign currency exchange rate changes . . . . . . . . . . . . . . . . .
———14,288 17,506 149
Curtailments and settlements . . . . . . . . . . . . . . . . . . . . . . . . . .
(2,988) ——(628) (4,465) (38)
Benefits paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(25,042) (18,630) (160) (11,639) (8,670) (74)
Divestiture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
———(32,140) ——
Transfer of the substitutional portion to the government . . . . . .
—(291,570) (2,492) ———
Benefit obligation at end of the fiscal year. . . . . . . . . . . . . . . . .
¥ 901,726 ¥ 619,869 $ 5,298 ¥153,598 ¥194,169 $1,660
Change in plan assets:
Fair value of plan assets at beginning of the fiscal year . . . . . . .
¥ 513,095 ¥ 534,451 $ 4,568 ¥85,662 ¥ 92,025 $ 786
Actual return (loss) on plan assets . . . . . . . . . . . . . . . . . . . . . .
(354) 51,766 442 7,513 11,209 96
Foreign currency exchange rate changes . . . . . . . . . . . . . . . . .
———3,517 5,059 43
Employer contribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
34,581 32,867 281 18,406 5,493 47
Plan participants’ contributions . . . . . . . . . . . . . . . . . . . . . . . .
2,111 ——873 609 5
Curtailments and settlements . . . . . . . . . . . . . . . . . . . . . . . . . .
———(112) (4,006) (34)
Benefits paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(14,982) (11,911) (102) (11,168) (5,995) (51)
Divestiture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
———(12,666) ——
Transfer of the substitutional portion to the government . . . . . .
—(117,845) (1,007) ———
Fair value of plan assets at end of the fiscal year . . . . . . . . . . .
¥ 534,451 ¥ 489,328 $ 4,182 ¥92,025 ¥104,394 $ 892
In connection with the establishment of the SONY BMG joint venture with Bertelsmann AG as discussed in Note 6, Sony transferred
¥32,140 million of its benefit obligation and ¥12,666 million of its plan assets which were included in Sony’s foreign plans to the joint
venture as of August 1, 2004.