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Annual Report 2011
100
FINANCIAL STATEMENTS Aer Lingus Group Plc
Notes to the consolidated financial statements (continued)
The movement in the defined benefit obligation over the year is as follows:
2
20
01
11
12010
¤
¤’
’0
00
00
0¤’000
At 1 January 1
12
2,
,4
47
76
614,038
Interest cost 6
62
26
6642
Actuarial losses/(gains) 2
2,
,1
18
86
6(2,551)
Past service (credit)/cost (
(4
45
57
7)
)640
Benefits paid (
(3
35
50
0)
)(293)
At 31 December 1
14
4,
,4
48
81
112,476
The movement in the fair value of plan assets of the year is as follows:
2
20
01
11
12010
¤
¤’
’0
00
00
0¤’000
At 1 January 9
9,
,0
08
80
07,672
Expected return on plan assets 5
58
86
6562
Actuarial (losses)/gains (
(1
1,
,0
03
32
2)
)81
Employer contributions 1
1,
,1
12
28
81,059
Benefits paid (
(3
34
49
9)
)(294)
Taxes paid (
(8
8)
)-
At 31 December 9
9,
,4
40
05
59.080
The amounts recognised in the income statement are as follows:
2
20
01
11
12010
¤
¤’
’0
00
00
0¤’000
Interest cost - recognised in finance expense 6
62
26
6642
Expected return on plan assets - recognised in finance income (
(5
58
87
7)
)(561)
Past service cost - recognised in staff costs (
(4
45
57
7)
)640
Total recognised in income statement (
(4
41
18
8)
)721
The actual return on plan assets was ¤0.4m (2010: ¤0.6m)
K
Ke
ey
y A
As
ss
su
um
mp
pt
ti
io
on
ns
s
The principal actuarial assumptions were as follows:
2
20
01
11
12010
¤
¤’
’0
00
00
0¤’000
Discount rate 4
4.
.2
25
5%
%5.00% - 6.00%
Inflation rate 2
2.
.0
00
0%
%2.00%
Expected return on plan assets 4
4.
.5
59
9%
% -
- 7
7.
.0
00
0%
%5.23% - 7.00%
Future salary increases N
N/
/A
AN/A
Future pension increases 0
0.
.0
00
0%
%0.00%