Reebok 2008 Annual Report Download - page 179

adidas Group Annual Report 2008 175
Movement in plan assets
€ in millions
2008 2007
Fair value of plan assets at January 1 60 46
Currency translation differences (5) (3)
Pensions paid (2) (1)
Contributions by the employer 3 10
Contributions by plan participants 1 —
Actuarial (loss) /gain (8) 4
Expected return on plan assets 4 4
Fair value of plan assets at December 31 53 60
In 2009, the expected payments consisting of benefi ts paid immediately by the company and
contributions paid by the company into plan assets amount to € 8 million. In 2008, the actual
return on plan assets is negative € 4 million (2007: € 7 million).
Constitution of plan assets
€ in millions
Dec. 31, 2008 Dec. 31, 2007
Equity instruments 15 28
Bonds 11 5
Real estate 1 —
Pension plan reinsurance 16 16
Other assets 10 11
Fair value of plan assets 53 60
Historical development
€ in millions
Dec. 31, 2008 Dec. 31, 2007 Dec. 31, 2006 Dec. 31, 2005 Dec. 31, 2004
Present value of defi ned benefi t obligation 172 171 170 131 118
Fair value of plan assets 53 60 46 — —
Thereof: defi ned benefi t assets (5) (4) (2) — —
Defi cit in plan 124 115 126 131 118
Experience adjustments 2 (1) 4 1 —
Difference between expected and actual
return on plan assets (8) 4 — — —
19 Other non-current liabilities
Other non-current liabilities consist of the following:
Other non-current liabilities
€ in millions
Dec. 31, 2008 Dec. 31, 2007
Finance lease obligations 2 3
Liabilities due to personnel 10 6
Deferred income 17 14
Financial liabilities
Interest rate derivatives 9 10
Currency options 13 16
Forward contracts 1 16
Other fi nancial liabilities — 1
Sundry — 3
Other non-current liabilities 52 69
Information regarding fi nance lease obligations, forward contracts as well as currency options
and interest rate derivatives is also included in these Notes see Notes 22 and 23.
Liabilities due after more than fi ve years amounted to € 17 million at December 31, 2008 (2007:
€ 15 million).
20 Minority interests
This line item within equity comprises the equity of third parties in a number of our consolidated
companies. Minority interests are attributable to six subsidiaries as at December 31, 2008 and
three subsidiaries as at December 31, 2007 see Shareholdings /Attachment II to these Notes.
These subsidiaries were partly acquired in connection with the acquisition of the Reebok busi-
ness and partly through purchases in 2008.
In accordance with IAS 32, the following minority interests are not reported within minority inter-
ests: GEV Grundstücksgesellschaft Herzogenaurach mbH & Co. KG (Germany), as the company
is a limited partnership, and adidas Hellas A.E. (Greece), as this minority is held with a put
option. The fair value of these minorities is shown within other liabilities. The result for these
minorities is reported within fi nancial expenses.