Chrysler 2007 Annual Report Download - page 294

Changes in the present value of the obligation for post-employment benefits are as follows:
Employee severance indemnity Other Total
(in thousands of euros) 2007 2006 2007 2006 2007 2006
Present value of obligation
at the beginning of the year 8,412 12,792 13,655 18,250 22,067 31,042
Current service cost –621 1,478 1,137 1,478 1,758
Interest costs 273 322 424 410 697 732
Actuarial (gains) losses arising during the year 116 581 (2,855) 2,394 (2,739) 2,975
Benefits paid (1,297) (6,080) (614) (8,397) (1,911) (14,477)
Gains on reduction (1,415) –––(1,415) –
Other changes 191 176 (237) (139) (46) 37
Present value of obligation at the end of the year 6,280 8,412 11,851 13,655 18,131 22,067
The present value of the defined benefit obligations in 2007 and the two previous years is as follows:
(in thousands of euros) At December 31, 2007 At December 31, 2006 At December 31, 2005
Present value of obligation at the end of the year:
- Employee severance indemnity 6,280 8,412 12,792
- Others 11,851 13,655 18,250
To t a l 18,131 22,067 31,042
The effects of the differences between the previous actuarial assumptions and what has actually occurred (experience adjustments)
at December 31, 2007 and 2006, is as follows:
(in thousands of euros) 2007 2006
Experience adjustments actuarial (gains) losses:
- Employee severance indemnity 468 83
- Others (1,671) 1,769
Total effect on the present value of defined benefit obligation (1,203) 1,852
Other non-current provisions
This item amounts to 1,265 thousand euros at December 31, 2007 (33 thousand euros at December 31, 2006) and mainly
represents the future amounts to be paid to employees who left the company during the year under “mobilità lunga” programme
(the long-term benefit to bridge the period prior to retirement) as well as accruals to fund scholarship grants for children of employees.
During 2006 changes in Provisions for employee benefits and other non-current provisions were as follows:
At At
(in thousands of euros) December 31, 2005 Accruals Utilisations Other changes December 31, 2006
Provisions for employee benefits and similar 29,124 3,386 (14,477) 38 18,071
Other non-current provisions 47 – (14) – 33
Total Provisions for employee benefits and other
non-current provisions 29,171 3,386 (14,491) 38 18,104
Fiat S.p.A. Financial Statements at December 31, 2007 - Notes to the Financial Statements 293