Kia 2012 Annual Report Download - page 85
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(f) Changes in fair value of plan assets for the years ended December 31, 2012 and 2011 are summarized as follows:
(e) Changes in present value of defined benefit obligations for the years ended December 31, 2012 and 2011 are summarized as
follows:
2012 2011
Balance at January 1 ₩ 674,271 973,230
Expected returns on plan assets 26,516 32,685
Contribution paid into the plan 470,000 -
Transference between affiliates, net 129 -
Benefit paid by the plan (231,132) (325,597)
Actuarial losses in other comprehensive income 300 (6,047)
Balance at December 31 ₩ 940,084 674,271
2012 2011
Balance at January 1 ₩ 948,871 1,037,965
Current service costs 201,105 191,916
Interest costs 37,737 48,177
Increase (decrease) due to transference between affiliates 214 (6,176)
Benefit paid by the plan (423,445) (426,226)
Actuarial losses in other comprehensive income 197,053 103,215
Balance at December 31 ₩ 961,535 948,871
(In millions of won)
(In millions of won)
The Company provides general warranty to the ultimate consumer for each product sold and accrues warranty expense at the time
of sale based on the history of actual claims. Also, the Company accrues potential expenses, which may occur due to change of
fix component of any product or voluntary recalls pending as of the end of the reporting period.
Other provision are comprised of provision related to loss on lawsuits.