Audi 2008 Annual Report Download - page 225

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The present value of the defined benefit commitments changed as follows:
EUR million 2008 2007
Present value on January 1 2,325 2,280
Changes in the group of consolidated companies
and first-time adoption of IAS 19 91 8
Service cost 64 79
Interest cost 129 104
Actuarial gains (-) / losses (+) – 111 – 70
Pension payments from company assets – 72 – 69
Effects from transfers 2 – 6
Pension payments from fund assets – 19 –
Currency differences 1 – 1
Present value on December 31 2,410 2,325
The reconciliation for the fair value of the plan assets is as follows:
EUR million 2008 2007
Plan assets on January 1 368 306
Changes in the group of consolidated companies
and first-time adoption of IAS 19 86 –
Expected return on plan assets 23 17
Actuarial gains (+) / losses (-) – 47 – 19
Employer contributions 59 64
Benefits paid – 19 –
Effects of transfers 1 –
Plan assets on December 31 471 368
In the past fiscal year, actual losses from the plan assets amounted to EUR 26 million.
The long-term overall yield on the plan assets is determined on a uniform basis and depends on
the actual long-term earnings of the portfolio, historical overall market yields and a forecast of
the anticipated yields of the classes of security in the portfolio.
Employer contributions to the fund assets totaling EUR 60 (52) million are expected for the
following fiscal year.
The composition of fund assets is as follows, by category:
% of fund assets Dec. 31, 2008 Dec. 31, 2007
Shares 13.9 38.0
Fixed-income securities 45.0 53.8
Cash 25.2 8.2
Other 15.9 0.0
100.0 100.0
Actuarial gains and losses result from changes in the entitlement base and from deviations in
the actual trends (e.g. increases in pay or retirement benefits) from the figures assumed for
calculation purposes. In accordance with the requirements of IAS 19, such gains and losses are
recognized without affecting income under a separate line item within equity, taking deferred
tax into account.