Fujitsu 2014 Annual Report Download - page 148

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<Outside Japan>
Projected benefit obligation and plan assets
Yen
(millions)
U.S. Dollars
(thousands)
At March 31 2013 2014 2014
Defined benefit obligation*1¥ 719,178 ¥ 821,111 $ 7,971,951
Plan assets (618,440) (689,351) (6,692,728)
Asset ceiling adjustments*2248 244 2,369
Projected benefit obligation in excess of plan assets 100,986 132,004 1,281,592
Net defined benefit liability ¥102,357 ¥133,187 $1,293,078
Net defined benefit asset (1,371) (1,183) (11,485)
Net amount of defined benefit liability and asset on the balance sheet ¥100,986 ¥132,004 $1,281,592
Yen
(millions)
U.S. Dollars
(thousands)
At March 31 2013 2014 2014
Unrecognized actuarial gains and losses*3¥150,278 ¥175,164 $1,700,621
Movements of asset ceiling adjustments*3(554) (558) (5,417)
Total ¥149,724 ¥174,606 $1,695,204
Remeasurements of defined benefit plans (Amount before related income tax effects) ¥149,724 ¥174,606 $1,695,204
*1 Defined benefit obligation for the funded plan and the unfunded plan is ¥712,414 million ($6,916,641 thousand) and ¥108,697 million ($1,055,311 thousand),
respectively, as of March 31, 2014.
*2 If the fair value of the plan assets exceeds the defined benefit obligation, net defined benefit asset is adjusted for any effect of limiting it to the asset ceiling in
accordance with “Employee Benefits” (IAS 19, issued June 16, 2011).
*3 The Company’s consolidated subsidiaries outside Japan have applied IAS 19 “Employee Benefits” (issued June 16, 2011) at the beginning of the year ended March
31, 2014. Accordingly, unrecognized actuarial gains and losses are reflected in remeasurements of defined benefit plans, net of taxes under net assets, and the
funded status is fully recognized as a defined benefit liability or asset. These changes in accounting standard are applied retrospectively, and the consolidated
financial statements for the year ended March 31, 2013 reflect this retrospective application.
The asset allocation of the plan assets for the year ended March 31, 2014 is as follows: equity securities: 12%, fixed income securities:
50%, life insurance general accounts: 1%, Liability Driven Investment portfolios: 31%, other: 6%. Liability Driven Investment portfolios are
portfolios that consist primarily of fixed income securities and swap contracts, designed to hedge the interest rate and inflation risks associ-
ated with the scheme obligations.
Components of net periodic benefit cost
Yen
(millions)
U.S. Dollars
(thousands)
Years ended March 31 2013 2014 2014
Service cost*4¥ 3,471 ¥ 4,961 $ 48,165
Net interest cost 7,265 3,754 36,447
Amortization of actuarial gains and losses*511,185 22,318 216,680
Amortization of past service cost 151 (75) (728)
Net periodic benefit cost 22,072 30,958 300,563
Loss on termination of retirement benefit plan (120) (5,753) (55,854)
Total ¥21,952 ¥25,205 $244,709
*4 Service cost includes net periodic benefit costs related with multi-employer plans.
*5 Amortization of actuarial gains and losses includes ¥4,550 million ($44,175 thousand) of one-time amortization expense stemming from a partial buyout of the retire-
ment benefit plans at a European subsidiary for the year ended March 31, 2014.
In addition to the net periodic benefit cost above, contributions to defined contribution plans of ¥14,642 million and ¥17,693 mil-
lion ($171,777 thousand) were recorded for the years ended March 31, 2013 and 2014, respectively.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
146 FUJITSU LIMITED ANNUAL REPORT 2014