Lenovo 2016 Annual Report Download - page 234
Download and view the complete annual report
Please find page 234 of the 2016 Lenovo annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224 -
225 -
226 -
227 -
228 -
229 -
230 -
231 -
232 -
233 -
234 -
235 -
236 -
237 -
238 -
239 -
240 -
241 -
242 -
243 -
244 -
245
-
246
-
247
 |
 |
232 Lenovo Group Limited 2015/16 Annual Report
NOTES TO THE FINANCIAL STATEMENTS
35 RETIREMENT BENEFIT OBLIGATIONS (continued)
(a) Pension benefits
The amounts recognized in the consolidated balance sheet are determined as follows:
2016
US$’000
2015
US$’000
Present value of funded obligations 600,288 585,237
Fair value of plan assets (292,742)(284,229)
Deficit of funded plans 307,546 301,008
Present value of unfunded obligations 111,586 86,556
Liability in the balance sheet 419,132 387,564
Representing:
Pension benefits obligation 419,132 387,564
The principal actuarial assumptions used are as follows:
2016 2015
Discount rate 0.5%-2.75%1%-2.75%
Future salary increases 0%-2%0%-3%
Future pension increases 0%-1.75%0%-1.75%
Life expectancy for male aged 60 21 24
Life expectancy for female aged 60 31 27
The sensitivity of the defined benefit obligation to changes in the weighted principal assumptions is:
Impact on defined benefit obligation
2016
Change in
assumption
Increase in
assumption
Decrease in
assumption
Discount rate 0.5%Decrease by 6.0%Increase by 13.2%
Salary growth rate 0.5%Increase by 0.1%Decrease by 1.6%
Pension growth rate 0.5%Increase by 7.2%Decrease by 6.7%
Increase by 1 year
in assumption
Decrease by 1 year
in assumption
Life expectancy Increase by 1.9%Decrease by 4%