Chrysler 2014 Annual Report Download - page 226
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224 2014 | ANNUAL REPORT
Consolidated
Financial Statements
Notes to the Consolidated
Financial Statements
Health care and life insurance plans
Liabilities arising from these plans comprise obligations for retiree health care and life insurance granted to employees
and to retirees in the U.S. and Canada by FCA US companies. Upon retirement from the Group, these employees may
become eligible for continuation of certain benefits. Benefits and eligibility rules may be modified periodically. These
plans are unfunded. The expected benefit payments for unfunded health care and life insurance plans are as follows:
Expected
benefit payments
(€ million)
2015 136
2016 134
2017 133
2018 132
2019 131
2020-2024 651
Changes in the net defined benefit obligations for healthcare and life insurance plans were as follows:
2014 2013
(€ million)
Present value of obligations at January 1, 1,945 2,289
Included in the Consolidated income statement 126 112
Included in OCI:
Actuarial losses (gains) from:
- Demographic assumptions (95) (21)
- Financial assumptions 187 (207)
- Other —11
Effect of movements in exchange rates 244 (112)
Other changes
Benefits paid (128) (126)
Other (3) (1)
Present value of obligations at December 31, 2,276 1,945
Amounts recognized in the Consolidated income statement were as follows:
For the years ended December 31,
2014 2013 2012
(€ million)
Current service cost 21 23 22
Interest expense 98 89 103
Past service costs (credits) and gains or losses arising from settlements 7— (6)
Total recognized in the Consolidated income statement 126 112 119
Health care and life insurance plans are accounted for on an actuarial basis, which requires the selection of various
assumptions, in particular, it requires the use of estimates of the present value of the projected future payments to all
participants, taking into consideration the likelihood of potential future events such as health care cost increases and
demographic experience.