BMW 2002 Annual Report Download - page 84
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83
Actuarial gains or losses may result from in-
creases or decreases in either the present value of
the defined benefit obligation or in the fair value of
the plan assets. Causes of actuarial gains or losses
include the effect of changes in the measurement
parameters, changes in estimates caused by the
actual development of risks impacting on pension
obligations and differences between the actual and
expected return on plan assets. Past service cost
arises where a BMW Group company introduces a
defined benefit plan or changes the benefits payable
under an existing plan.
Based on the measurement principles contained
in IAS 19, the following funding status applies to the
Groups pension plans:
in euro million Germany GB Other countries Total
31 December 2002 2001 2002 2001 2002 2001 2002 2001
Present value of pension benefits
covered by accounting provisions 2,186 1,902 73 66 2,259 1,968
Present value of funded
pension benefits 5,329 6,746 209 192 5,538 6,938
Defined benefit obligation 2,186 1,902 5,329 6,746 282 258 7,797 8,906
Fair value of fund assets 4,722 6,504 144 151 4,866 6,655
Net obligation 2,186 1,902 607 242 138 107 2,931 2,251
Surplus of fund assets ()
Actuarial gains (+) and
losses () not yet recognised 69 43 617 309 52 30 738 296
Income (+) or expense ()
from past service cost not yet
recognised 3 3
Amount not recognised as an
asset because of the limit in
IAS 19.58 23 23 23 23
Balance sheet amount at 31.12. 2,117 1,945 10 67 106 100 2,213 1,978
thereof pension provision 2,117 1,945 33 107 101 2,257 2,046
thereof pension asset () 43 67 1 1 44 68