BMW 2005 Annual Report Download - page 108
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Plan assets in the United Kingdom and other countries comprise the following:
Benefit obligations are covered in Germany by
accounting provisions. In the United Kingdom, a
substantial portion of plan assets is invested in debt
securities in order to minimise value fluctuations.
107
*adjusted in accordance with Note [8] (b)
in euro million Other countries
Defined benefit obligation Plan assets Net obligation
2005 2004*2005 2004*2005 2004*
1 January 353 313 –180 –156 173 157
Expense from pension obligations 48 46 –12 –10 36 36
Payments to external funds – ––27 –25 –27 –25
Pension payments – 9 –7 56–4 –1
Actuarial gains (–) and losses (+) – 4 17 12–3 19
Translation differences and other changes 39 –16 –20 319 –13
31 December 427 353 – 233 – 180 194 173
in euro million Components of plan assets
United Kingdom Other countries Total
2005 2004 2005 2004 2005 2004
Equity instruments 1,471 1,103 141 106 1,612 1,209
Debt securities 3,461 3,259 85 68 3,546 3,327
Real estate 621 562 44625 566
Other 231 162 32234 164
31 December 5,784 5,086 233 180 6,017 5,266