Audi 2010 Annual Report Download - page 222

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The present value of the defined benefit commitments changed as follows:
EUR million 2010 2009
Present value on January 1 2,681 2,410
Changes in the group of consolidated companies and
first-time adoption of IAS 19 12 –
Service cost 80 74
Interest cost 142 135
Actuarial gains (–) / losses (+) + 180 + 148
Pension payments from company assets – 87 – 79
Effects from transfers – 2 – 1
Pension payments from fund assets – 5 – 4
Currency differences 1 –
Present value on December 31 3,001 2,681
The reconciliation for the fair value of the plan assets is as follows:
EUR million 2010 2009
Plan assets on January 1 583 471
Changes in the group of consolidated companies and
first-time adoption of IAS 19 – –
Expected return on plan assets 30 24
Actuarial gains (+) / losses (–) – 6 + 36
Employer contributions 68 64
Benefits paid – 5 – 4
Effects of transfers 0 –
Other reconciliation effects – – 7
Plan assets on December 31 670 583
In the past fiscal year, actual gains from the plan assets amounted to EUR 24 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 67 (65) million are expected for the
following fiscal year.
The composition of fund assets is as follows, by category:
% of fund assets 2010 2009
Shares 31.2 31.1
Fixed-income securities 42.4 42.8
Cash 9.3 7.4
Real estate 3.1 3.3
Other 14.0 15.5
Total 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.