Lenovo 2009 Annual Report Download - page 148
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2008/09 Annual Report Lenovo Group Limited
146
NOTES TO THE FINANCIAL STATEMENTS (Continued)
37 Retirement benefit obligations (continued)
(c) Additional information on post-employment benefits (pension and medical) (continued)
Reconciliation of movements in present value of defined benefit obligations of the Group:
Pensions Medical
2009 2008 2009 2008
US$’000 US$’000 US$’000 US$’000
Opening defined benefit obligation 204,406 199,877 16,244 13,898
Reclassification – (9,670) – (178)
Exchange adjustment (6,406) 22,167 (116) 991
Current service cost 7,522 8,273 1,650 1,765
Interest cost 6,186 6,027 739 638
Contributions by plan participants – 117 – –
Actuarial (gains)/losses (12,592) (14,338) (456) 496
Benefits paid (6,539) (8,074) (264) (63)
Curtailments 1,390 (196) (1,151) (1,303)
Others – 223 – –
Closing defined benefit obligation 193,967 204,406 16,646 16,244
Summary of pensions and post-retirement medical benefits
Group
2009 2008 2007 2006
US$’000 US$’000 US$’000 US$’000
Present value of defined benefit
obligations 210,613 220,650 213,775 178,568
Fair value of plan assets 142,613 135,160 110,827 32,581
Deficit 68,000 85,490 102,948 145,987
Actuarial losses/(gains) arising on plan
assets
Amount of losses/(gains) 6,023 (11,384) (2,152) 32
Percentage of the fair value of
plan assets (4.2%) 8.4% 1.9% (0.1%)
Actuarial (gains)/losses arising
on plan liabilities
Amount of (gains)/losses (13,048) 10,081 8,040 (510)
Percentage of the present value
of the defined benefit obligation (6.2%) 4.6% 4.0% (0.3%)
The Group’s pension and post-retirement medical benefits plans are established during the year ended March 31, 2006.