BMW 2010 Annual Report Download - page 111

109 GROUP FINANCIAL STATEMENTS
Germany United Kingdom Other To t a l
in euro million 2010 2009 2010 2009 2010 2009 2010 2009
Balance sheet amounts at 1 January 1,475 2,693 1,259 345 234 273 2,968 3,311
Effect of first-time consolidation – – – – 1 – 1 –
Expense from pension obligations 119 237 135 77 50 43 304 357
Pension payments or transfers to external funds –1,851 –1,746 –112 – 99 – 38 – 58 – 2,001 –1,903
Actuarial gains (–) and losses (+)
on defined benefit obligations 441 522 – 7 946 25 – 4 459 1,464
Actuarial gains (–) and losses (+) on plan assets –102 – 234 –110 – 40 –15 –15 –227 – 289
Employee contributions 2 2 – – – – 2 2
Translation differences and other changes 1 1 37 30 18 – 5 56 26
Balance sheet amounts at 31 December 85 1,475 1,202 1,259 275 234 1,562 2,968
thereof pension provision 85 1,475 1,202 1,259 276 238 1,563 2,972
thereof pension assets (–) – – – – –1 – 4 –1 – 4
Germany United Kingdom Other To t a l
in euro million 2010 2009 2010 2009 2010 2009 2010 2009
Current service cost 122 103 57 52 38 33 217 188
Expense from reversing the discounting of pension obligations 241 228 315 275 32 29 588 532
Past service cost – 42 – 9 7 – – – 33 7
Expected return on plan assets (–) – 202 – 94 – 246 – 257 –20 –19 – 468 – 370
Expense from pension obligations 119 237 135 77 50 43 304 357
The changes in the pension provision and the pension
asset (reimbursement claims or right to reduce future
contributions to the funds) as disclosed in the balance
sheet can be derived as follows:
The defined benefit plans of the BMW Group gave rise to
an expense from pension obligations in the financial
The expense from reversing the discounting of pension
obligations and the income from the expected return
onplan assets are reported as part of the financial result.
All other components of pension expense are included
in
the relevant income statement under costs by func-
tion.
year 2010 of euro 304 million (2009: euro 357 million),
comprising the following components:
Depending on the risk structure of the pension obli ga-
tions involved, pension plan assets are invested in
various investment classes, the most predominant one
being bonds. The asset portfolio also includes equity
instruments, property and alternative investments.
Theexpected rate of return is derived on the basis of