ING Direct 2011 Annual Report Download - page 154

Notes to the consolidated annual accounts of ING Group continued
As of 31 December 2011 and 31 December 2010, ING Group had no significant temporary differences associated with the parent
company’s investments in subsidiaries, branches and associates and interest in joint ventures as any economic benefit from those
investments will not be taxable at parent company level.
Changes in reorganisation provision
2011 2010
Opening balance 434 644
Changes in the composition of the group –1 38
Additions 531 285
Interest 55
Releases –14 –77
Charges –358 –461
Exchange rate differences 16
Other changes 1–6
Closing balance 599 434
As at 31 December 2011, the provision for reorganisation, of which EUR 457 million relates to termination benefits, relates to Dutch Retail
Banking activities as well as other restructuring activities.
As at 31 December 2010, the provision for reorganisation, of which EUR 317 million relates to termination benefits, mainly related to the
merger of the Dutch Retail Banking activities as well as other restructuring activities.
Changes in other provisions
Litigation Other Total
2011 2010 2011 2010 2011 2010
Opening balance 304 307 229 440 533 747
Changes in the composition of the group –3 –26 –12 –1 –15 –27
Additions 19 25 162 52 181 77
Releases –7 –1 –2 –15 –9 –16
Charges –21 –13 –56 –59 –77 –72
Exchange rate differences –5 333–2 6
Other changes 10 917 –191 27 –182
Closing balance 297 304 341 229 638 533
The provision for the estimated cost of the agreement with regard to unit-linked policies is included in ‘Insurance and investment contracts’
as disclosed in Note 17.
In general, Reorganisation and Other provisions are of a short-term nature.
The amounts included in other provisions are based on best estimates with regard to amounts and timing of cash flows required to settle
the obligation.
Pension and post-employment benefits
Summary of pension benefits
2011 2010 2009 2008 2007
Defined benefit obligation 16,212 16,183 14,209 14,271 14,499
Fair value of plan assets 20,077 17,36 4 15,310 13,366 14,708
–3,865 –1,181 –1,101 905 –209
Unrecognised past service costs –2 –3 –3 –5 –3
Unrecognised actuarial gains/(losses) 483 –1,731 –1,450 –2,072 198
Net liability (asset) recognised in the balance sheet –3,384 –2,915 –2,554 –1,172 –14
Presented as:
– Other liabilities 378 543 589 609 425
– Other assets –3,762 –3,458 –3,143 –1,781 –439
–3,384 –2,915 –2,554 –1,172 –14
152 ING Group Annual Report 2011