Asus 2010 Annual Report Download - page 166
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162
D. Tangible net assets (stockholders equity (including minority interset) – intangible
assets): should be no less than $90,000,000.
(4) The Group provided assets for secured bank loans. Please refer to Note 6 for details of
property, plant and equipment pledged as collateral.
17) Pension
(1) Because of the spin-off, except for a few foreign employees, the Company had settled its
financial obligation to employees under the pension plan accounted for based on SFAS
No. 18 as of December 31, 2007. Thereafter, the Company is subject to the Labor
Pension Act.
(2) The Company obtained permission from the Labor Affairs Bureau, Taipei, to suspend the
appropriation of pension funds for those foreign employees subject to the Labor
Standards Laws in 2010.
(3) The pension cost for the years ended December 31, 2010 and 2009, consisted of the
following:
2010/1/1~2010/12/31 2009/1/1~2009/12/31
Net pension cost
Defined benefit pension plan $ 5,029 $ 9,923
Defined contribution pension plan $ 708,434 $ ,1,490,923
(including annuity)
(4) In 2010, the Company and the subsidiaries in R.O.C. had an actuarial valuation of their
defined benefit pension plan as of December 31, 2010 and 2009. According to the
actuarial reports, the funded status was reconciled with prepaid pension cost as follows:
2010/1/1~12/31 2009/1/1~12/31
Benefit obligation:
Vested benefit obligation ($ 10,791) ($ 3,543)
Non-vested benefit obligation ( 83,519) ( 166,470)
Accumulated benefit obligation ( 94,310) ( 170,013)
Projected future employee compensation
increases
( 37,565) ( 102,442)
Projected benefit obligation ( 131,875) ( 272,455)
Fair value of plan assets 193,576 278,262
Funded status 61,701 5,807
Net unrecognized transition assets 468 48,523
Unrecognized net gain ( 49,067) ( 53,419)
Additional accrued pension liability - ( 10,490)
Accrued pension liability $13,102 ($ 9,579)
Prepaid pension cost $ 33,212 $ 33,064
Accrued pension liability ( 20,110) ( 42,643)
$ 13,102 ($ 9,579)