Toyota 2009 Annual Report Download - page 90

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Financial Section
TOYOTA MOTOR CORPORATION
88
Information regarding defi ned benefi t plans
Information regarding Toyota’s defined benefit plans is as follows:
U.S. dollars
Yen in millions in millions
March 31, March 31,
2008 2009 2009
Change in benefit obligation
Benefit obligation at beginning of year .................................................................................. ¥1,707,969 ¥1,693,155 $17,237
Service cost ............................................................................................................................... 96,454 84,206 857
Interest cost ............................................................................................................................... 54,417 52,959 539
Plan participants’ contributions ............................................................................................... 767 750 8
Plan amendments ..................................................................................................................... (7,619) (2,096) (21)
Net actuarial gain ..................................................................................................................... (22,112) (47,272) (481)
Acquisition and other ............................................................................................................... (55,960) (64,784) (660)
Benefits paid ............................................................................................................................. (80,761) (84,139) (857)
Benefit obligation at end of year ......................................................................................... 1,693,155 1,632,779 16,622
Change in plan assets
Fair value of plan assets at beginning of year ........................................................................ 1,425,451 1,282,048 13,051
Actual return on plan assets..................................................................................................... (206,101) (307,293) (3,128)
Acquisition and other ............................................................................................................... (26,851) (43,851) (446)
Employer contributions ............................................................................................................ 169,543 131,412 1,338
Plan participants’ contributions ............................................................................................... 767 835 9
Benefits paid ............................................................................................................................. (80,761) (84,139) (857)
Fair value of plan assets at end of year ............................................................................... 1,282,048 979,012 9,967
Funded status ............................................................................................................................... ¥ 411,107 ¥ 653,767 $ 6,655
Amounts recognized in the consolidated balance sheet as of March 31, 2008 and 2009 are comprised of the following:
U.S. dollars
Yen in millions in millions
March 31, March 31,
2008 2009 2009
Accrued expenses (Accrued pension and severance costs) ..................................................... ¥ 30,345 ¥ 30,658 $ 312
Accrued pension and severance costs ....................................................................................... 632,297 634,612 6,460
Investments and other assets—other (Prepaid pension and severance costs) ....................... (251,535) (11,503) (117)
Net amount recognized ........................................................................................................... ¥ 411,107 ¥653,767 $6,655
Amounts recognized in accumulated other comprehensive income (loss) as of March 31, 2008 and 2009 are comprised of the following:
U.S. dollars
Yen in millions in millions
March 31, March 31,
2008 2009 2009
Net actuarial loss .......................................................................................................................... ¥(217,138) ¥(497,055) $(5,060)
Prior service costs ......................................................................................................................... 125,553 109,570 1,115
Net transition obligation .............................................................................................................. (7,458) (5,514) (56)
Net amount recognized ........................................................................................................... ¥ (99,043) ¥(392,999) $(4,001)
The accumulated benefit obligation for all defined benefit pen-
sion plans was ¥1,547,218 million and ¥1,524,556 million ($15,520
million) at March 31, 2008 and 2009, respectively.
The projected benefit obligation, accumulated benefit obliga-
tion and fair value of plan assets for which the accumulated bene-
fit obligations exceed plan assets are as follows:
U.S. dollars
Yen in millions in millions
March 31, March 31,
2008 2009 2009
Projected benefit obligation ........................................................................................................ ¥508,505 ¥1,076,362 $10,958
Accumulated benefit obligation ................................................................................................. 467,421 1,039,314 10,580
Fair value of plan assets ............................................................................................................... 91,723 614,377 6,254