Porsche 2008 Annual Report Download - page 207

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Plan assets consist of the following components:
The table below presents experience adjustments, meaning differences between changes in as-
sets and obligations expected on the basis of actuarial assumptions and actual changes in those
assets and obligations:
[27] Non-current and current tax provisions and other provisions
Provisions for employee expenses are recognized for long-service awards, time credits, the
phased retirement scheme, severance payments and similar obligations, among other things.
Provisions for obligations arising from sales primarily concern warranty obligations, marketing
services and bonuses. The warranty obligations in the Porsche group mainly arise from product
warranties granted for the vehicles it produces. The provisions include both estimated expenses
from legal and contractual guarantee claims as well as estimated expenses for constructive war-
ranty. The timing of the utilization of the warranty obligation depends on the occurrence of the
warranty claim and can extend over the entire legal and constructive warranty period.
31/7/2009 31/7/2009 31/7/2008
%
Porsche
without VW
Shares 21 12 0
Fixed-interest securities 55 46 91
Other securities 0 09
Cash reserve 15 42 0
Real estate 5 00
Other 4 00
€ million 2008/09 2007/08 2006/07 2005/06
Defined benefit obligation 17,222 760 744 758
Plan assets – 3,510 – 41 – 43 – 37
Deficit (+)/Surplus (–) 13,712 719 701 721
Experience adjustments on pension obligation – 0.7% + 13.1% + 6.0% – 2.6%
Experience adjustments on plan assets – 0.5% – 1.7% + 1.3% 1.0%
31/7/2009 31/7/2009 31/7/2008
Porsche without VW
€ million
Thereof
due within
one year
Thereof
due within
one year
Thereof
due within
one year
Income tax provisions 6,058 2,280 1,401 1,401 2,008 2,008
Provisions for employee expenses 2,811 1,650 327 226 639 535
Provisions for obligations arising from sales 11,205 5,584 688 312 893 347
Sundry other provisions 5,425 2,509 186 179 308 308
Other provisions 19,441 9,743 1,201 717 1,840 1,190