Lenovo 2016 Annual Report Download - page 238
Download and view the complete annual report
Please find page 238 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
 |
 |
236 Lenovo Group Limited 2015/16 Annual Report
NOTES TO THE FINANCIAL STATEMENTS
35 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:
Pension Medical
2016
US$’000
2015
US$’000
2016
US$’000
2015
US$’000
Opening defined benefit obligation 671,793 409,357 27,887 19,578
Exchange adjustment 11,432 (50,501)(480)(178)
Current service cost 16,822 14,272 604 455
Past service cost (1,928)(1,542)––
Interest cost 10,982 10,845 1,004 676
Remeasurements:
(Gain)/loss from change in
demographic assumptions (3,498)6,617 1,187 (104)
Loss/(gain) from changes in
financial assumptions 16,700 90,530 (45)310
Experience loss/(gain) 7,748 2,330 (1,010)(526)
Contributions by plan participants 615 408 ––
Benefits paid (17,992)(16,393)(1,182)(258)
Curtailments (800)5,205 (34)(1,859)
Acquisition of businesses –200,665 –9,793
Closing defined benefit obligation 711,874 671,793 27,931 27,887
During the year, benefits of US$763,000 were paid directly by the Group (2015: US$716,000).
Summary of pensions and post-retirement medical benefits of the Group:
2016
US$’000
2015
US$’000
2014
US$’000
2013
US$’000
2012
US$’000
Present value of defined benefit
obligations 739,805 699,680 428,935 445,183 435,760
Fair value of plan assets 296,931 289,562 272,420 281,300 230,942
Deficit 442,874 410,118 156,515 163,883 204,818
Actuarial losses/(gains) arising on
plan assets 3,580 (29,070) (588) (7,840)1,786
Actuarial losses/(gains) arising on
plan liabilities 21,082 99,157 (3,400)25,014 35,751
24,662 70,087 (3,988)17,174 37,537