Experian 2012 Annual Report Download - page 138

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136 Experian Annual Report 2012 Financial statements
Notes to the Group financial statements continued
34. Retirement benefit assets and obligations (continued)
(v) Amounts recognised in the Group statement of comprehensive income
2012
US$m
2011
US$m
Labour costs:
Current service cost (9) (10)
Credit in respect of past service costs - 29
(Charge)/credit included in labour costs (9) 19
Finance income/(expense):
Expected return on plans’ assets 57 56
Interest on plans’ liabilities (46) (50)
Net finance income 11 6
Total credit to Group income statement 2 25
Actuarial gains recognised within other comprehensive income 9 107
Total credit recognised in the Group statement of comprehensive income 11 132
Actuarial gains recognised within other comprehensive income comprise:
2012
US$m
2011
US$m
(Losses)/gains on liabilities (7) 97
Gains on assets 16 10
Total gains recognised within other comprehensive income 9 107
During the year ended 31 March 2011, the UK Government changed to the use of the Consumer Prices Index (the ‘CPI’) rather than the Retail
Prices Index as the inflation measure for determining the minimum pension increases to be applied to statutory index-linked features of
retirement benefits. As a result of using the lower CPI rate, there was a reduction in obligations with a credit in respect of past service costs of
US$29m recognised in the Group income statement and a further reduction in obligations of US$18m included within the total actuarial gain of
US$107m recognised within other comprehensive income.
(vi) Cumulative actuarial gains and losses recognised in the Group retained earnings reserve
2012
US$m
2011
US$m
Gains in Experian plans (28) (19)
Losses in Home Retail Group plans recognised prior to the demerger 81 81
Total charge to the Group retained earnings reserve 53 62
(vii) Future contributions
Contributions expected to be paid to the Experian Pension Scheme during the year ending 31 March 2013 are US$9m by the Group and US$4m
by its employees.