BMW 2005 Annual Report Download - page 104
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103
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
Group’s pension plans:
Pension provisions relating to pension plans in
other countries amounted to euro 202 million
(2004: euro 181 million).This includes euro 82 mil-
lion (2004: euro 69 million) relating to externally
funded plans.
The increase in the defined benefit obligations
was attributable to changes in the discount rates
used in the actuarial computation and to changes in
mortality rate assumptions.
in euro million Germany UK Other Total
31 December 2005 2004*2005 2004*2005 2004*2005 2004*
Present value of pension benefits
covered by accounting provisions 4,234 3,336 ––112 104 4,346 3,440
Present value of funded pension
benefits – –6,576 5,764 315 249 6,891 6,013
Defined benefit obligations 4,234 3,336 6,576 5,764 427 353 11,237 9,453
Fair value of plan assets – –5,784 5,086 233 180 6,017 5,266
Net obligation 4,234 3,336 792 678 194 173 5,220 4,187
Income (+) expense (–) from
past service cost not yet
recognised – ––––2 –2 –2 –2
Amount not recognised as
an asset because of the
limit in IAS 19.58 – –––10 910 9
Balance sheet amount at 31.12. 4,234 3,336 792 678 202 180 5,228 4,194
thereof pension provision 4,234 3,336 819 707 202 181 5,255 4,224
thereof pension asset (–) – ––27 –29 ––1 –27 –30
*adjusted in accordance with Note [8] (b)