BP 2010 Annual Report Download - page 210

Notesonnancialstatements
38.Pensionsandotherpost-retirementbenetscontinued
 $million
          2008
           USotherpost- 
         UK US retirement 
         pension pension benet Other
         plans plans plans plans Total
Analysisoftheamountchargedtoprotbeforeinterestandtaxation
Currentservicecosta    448 235 40 128 851
Pastservicecost    7 74 – 1 82
Settlement,curtailmentandspecialterminationbenets    30 – – 12 42
Paymentstodenedcontributionplans    – 170 – 25 195
Totaloperatingchargeb    485 479 40 166 1,170
Analysisoftheamountcredited(charged)toothernanceexpense
Expectedreturnonplanassets    2,094 632 2 194 2,922
Interestonplanliabilities    (1,239) (444) (198) (450) (2,331)
Othernanceincome(expense)    855 188 (196) (256) 591
Analysisoftheamountrecognizedinothercomprehensiveincome
Actualreturnlessexpectedreturnonpensionplanassets    (6,946) (2,895) (8) (404) (10,253)
Changeinassumptionsunderlyingthepresentvalueoftheplanliabilities   1,570 3 215 214 2,002
Experiencegainsandlossesarisingontheplanliabilities    (73) (194) 18 70 (179)
Actuarial(loss)gainrecognizedinothercomprehensiveincome   (5,449) (3,086) 225 (120) (8,430)

a
Thecostsofmanagingtheplan’sinvestmentsaretreatedasbeingpartoftheinvestmentreturn,thecostsofadministeringourpensionsfundbenetsaregenerallyincludedincurrentservicecost,andthe
costsofadministeringourotherpost-retirementbenetplansareincludedinthebenetobligation.
bIncludedwithinproductionandmanufacturingexpensesanddistributionandadministrationexpenses.
At31December2010,reimbursementbalancesduefromortoothercompaniesinrespectofpensionsamountedto$483millionreimbursementassets
(2009$443million)and$13millionreimbursementliabilities(2009$14million).Thesebalancesarenotincludedaspartofthepensionliability,butare
reectedelsewhereinthegroupbalancesheet.
 $million
         2010 2009 2008 2007 2006
Historyofsurplus(decit)andofexperiencegainsandlosses
Benetobligationat31December    41,912 40,073 34,847 43,100 42,433
Fairvalueofplanassetsat31December    34,231 31,453 26,154 42,799 39,910
Decit      (7,681) (8,620) (8,693) (301) (2,523)
Experiencelossesonplanliabilities    (94) (421) (178) (200) (124)
Actualreturnlessexpectedreturnonpensionplanassets    2,037 2,549 (10,253) 302 1,967
Actualreturnonplanassets    4,261 4,528 (7,331) 3,157 4,377
Actuarial(loss)gainrecognizedinothercomprehensiveincome   (320) (682) (8,430) 1,717 2,615
Cumulativeamountrecognizedinothercomprehensiveincome   (3,942) (3,622) (2,940) 5,490 3,773

Estimated future benet payments
Theexpectedbenetpayments,whichreectexpectedfutureservice,asappropriate,butexcludeplanexpenses,upuntil2020areasfollows:
 $million
            US other post-
      UKUS retirement
pension pension benet Other
          plansplans plansplansTotal
2011      994 805 207 612 2,618
2012      1,035 807 209 581 2,632
2013      1,069 810 213 584 2,676
2014      1,122 808 217 588 2,735
2015      1,167 788 221 576 2,752
2016-2020     6,581 3,636 1,132 2,815 14,164

208BPAnnualReportandForm20-F2010