LensCrafters 2009 Annual Report Download - page 85

Download and view the complete annual report

Please find page 85 of the 2009 LensCrafters 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.

Page out of 128

  • 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

NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS | 83 <
The following tables provide key information pertaining to the Company’s pension plans and SERPs.
(Euro 000) Pension Plans SERP
2009 2008 2009 2008
Change in benefi t obligations:
Benefi t obligation - beginning of period 313,520 266,786 12,015 10,095
Service cost 18,443 21,666 466 543
Interest cost 19,476 21,210 663 870
Actuarial (gain)/loss 1,952 55 (1,142) 92
Benefi ts paid (9,526) (11,111) (366) (294)
Translation difference (9,850) 14,913 (338) 709
Benefi t obligation - end of period 334,015 313,520 11,298 12,015
(Euro 000) Pension Plans SERP
2009 2008 2009 2008
Change in plan assets:
Fair value of plan assets - beginning of period 184,379 226,575
Actual return on plan assets 38,994 (55,679)
Employer contribution 31,267 16,318 366 294
Benefi ts paid (9,526) (11,111) (366) (294)
Translation difference (6,945) 8,275
Fair value of plan assets - end of period 238,168 184,379 0 0
Funded status (95,846) (129,141) (11,298) (12,015)
Amounts recognized in the consolidated balance sheets as of December 31, 2009 and 2008, consist of the
following:
(Euro 000) Pension Plans SERP
2009 2008 2009 2008
Liabilities:
Current liabilities - 627 443
Noncurrent liabilities 95,846 129,141 10,671 11,572
Total accrued pension liabilities 95,846 129,141 11,298 12,015
Other comprehensive income:
Net loss 90,295 104,015 2,436 3,566
Prior service cost 174 217 1 5
Contributions after measurement date -
Accumulated other comprehensive income 90,469 104,232 2,437 3,571