BMW 2011 Annual Report Download - page 121

121 GROUP FINANCIAL STATEMENTS
Pension provisions relating to pension plans in other
countries amounted to € 443 million (2010: € 276
mil-
lion). This includes € 350 million (2010: € 190 million)
relating to externally funded plans.
The increase in defined benefit obligations results
mainly from the change in the discount rate used for the
actuarial computation in the UK and USA. The impact
of this on pension provisions was not fully offset by the
better-than-expected return on fund assets in the UK.
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:
Germany United Kingdom Other To t a l
in € million 2011 2010 2011 2010 2011 2010 2011 2010
Balance sheet amounts at 1 January 85 1,475 1,202 1,259 275 234 1,562 2,968
Effect of first-time consolidation – – – – 1 1 1 1
Expense from pension obligations 189 119 113 135 47 50 349 304
Pension payments or transfers to external funds – 153 – 1,851 – 101 – 112 – 61 – 38 – 315 – 2,001
Actuarial gains (–) and losses (+)
on defined benefit obligations – 18 441 376 – 7 135 25 493 459
Actuarial gains (–) and losses (+) on plan assets 334 – 102 – 328 – 110 31 – 15 37 – 227
Employee contributions 3 2 – – – – 3 2
Translation differences and other changes – 1 38 37 14 18 52 56
Balance sheet amounts at 31 December 440 85 1,300 1,202 442 275 2,182 1,562
thereof pension provision 440 85 1,300 1,202 443 276 2,183 1,563
thereof pension assets – – – – – 1 – 1 – 1 – 1
Germany United Kingdom Other To t a l
in € million 2011 2010 2011 2010 2011 2010 2011 2010
Current service cost 142 122 63 57 35 38 240 217
Expense from reversing the discounting of pension obligations 248 241 311 315 35 32 594 588
Past service cost 48 – 42 – 12 9 1 – 37 – 33
Expected return on plan assets – 249 – 202 – 249 – 246 – 24 –20 – 522 – 468
Expense from pension obligations 189 119 113 135 47 50 349 304
The defined benefit plans of the BMW Group gave rise
to an expense from pension obligations in the financial
year 2011 of € 349 million (2010: € 304 million), compris-
ing the following components: