BMW 2007 Annual Report Download - page 113

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Benefit obligations are covered in Germany by
accounting provisions. In the United Kingdom, a
Plan assets in the United Kingdom and other countries comprise the following:
substantial portion of plan assets is invested in debt
securities in order to minimise value fluctuations.
in euro million United Kingdom
Defined benefit obligation Plan assets Net obligation
2007 2006 2007 2006 2007 2006
1 January 6,568 6,576 – 6,134 – 5,784 434 792
Expense from pension obligations 387 371 – 335 – 300 52 71
Payments to external funds – – – 47 – 98 – 47 – 98
Pension payments – 293 – 278 293 278 – –
Actuarial gains (–) and losses (+) 211 – 241 42 – 98 253 – 339
Translation differences and other changes – 546 140 495 – 132 – 51 8
31 December 6,327 6,568 – 5,686 – 6,134 641 434
in euro million Other countries
Defined benefit obligation Plan assets Net obligation
2007 2006 2007 2006 2007 2006
1 January 450 427 – 298 – 233 152 194
Expense from pension obligations 51 59 – 23 – 14 28 45
Payments to external funds – – – 57 – 51 – 57 – 51
Pension payments – 16 – 10 6 6 – 10 – 4
Actuarial gains (–) and losses (+) 8 8 2 – 19 10 – 11
Translation differences and other changes – 38 – 34 27 13 – 11 – 21
31 December 455 450 – 343 – 298 112 152
in euro million Components of plan assets
United Kingdom Other countries Total
2007 2006 2007 2006 2007 2006
Equity instruments 1,266 1,902 205 172 1,471 2,074
Debt securities 3,135 3,323 111 106 3,246 3,429
Real estate 487 664 6 5 493 669
Other 798 245 21 15 819 260
31 December 5,686 6,134 343 298 6,029 6,432