National Grid 2015 Annual Report Download - page 130

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Financial Statements
22. Pensions and other post-retirement benefits continued
Amounts recognised in the income statement and statement of other comprehensive income
UK pensions US pensions US other post-retirement benefits
2015
£m
2014
£m
2013
£m
2015
£m
2014
£m
2013
£m
2015
£m
2014
£m
2013
£m
Included within operating costs
Administration costs 66 6 75 4 11 2
Included within payroll costs
Defined contribution scheme costs 26 19 16 22 21 23 –– –
Defined benefit scheme costs:
Current service cost 70 96 90 77 85 87 39 44 43
Past service costs – augmentations 715 2–– – –– –
Past service cost/(credit) –
redundancies 1(19) (7) –– – –– –
Past service (credit)/cost –
planamendments –(11) –1– – –– –
Special termination benefit cost –
redundancies 20 39 20 –– – –– –
LIPA MSA transition –– – –(16) ––(198) –
Net loss on disposal of businesses –– – –– 3 –– 1
124 139 121 100 90 113 39 (154) 44
Included within finance income
andcosts
Net interest cost 27 47 31 25 27 34 49 54 70
Total included in income statement 157 192 158 132 122 151 89 (99) 116
Remeasurements of net retirement
benefit obligations (46) 354 (560) (408) 81 (35) (317) 50 (119)
Exchange adjustments –– – (88) 60 (37) (148) 126 (75)
Total included in the statement of
other comprehensive income (46) 354 (560) (496) 141 (72) (465) 176 (194)
Reconciliation of the net defined benefit liability
UK pensions US pensions US other post-retirement benefits
2015
£m
2014
£m
2013
£m
2015
£m
2014
£m
2013
£m
2015
£m
2014
£m
2013
£m
Opening net defined benefit liability (753) (1,16 9) (668) (523) ( 740) (766) (1,135) (1,588) (1,504)
(Cost)/credit recognised in the
incomestatement (131) (173) (142) (110) (101) (128) (89) 99 (116)
Remeasurement effects recognised
inthe statement of other
comprehensive income (46) 354 (560) (496) 141 (72) (465) 176 (194)
Employer contributions 258 235 201 126 174 224 124 187 262
Other movements –– – –3 2 (18) (9) (36)
Closing net defined benefit liability (672) (753) (1,169) (1,003) (523) (740) (1,583) (1,135) (1,588)
– analysis of items in the primary statements continued
Notes to the consolidated financial statements
128