Reebok 2013 Annual Report Download - page 219
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adidas Group
/
2013 Annual Report
Consolidated Financial Statements
215
2013
/
04.8
/
Notes
/
Notes to the Consolidated Statement of Financial Position
The actuarial assumptions for withdrawal and mortality rates are based on statistical information available in the
various countries. In Germany, the Heubeck 2005 G mortality tables are used. In the UK, assumptions are based
on the S1NA base table with modified improvement of the life expectancy mortality tables. In Japan, the ”21st Life
Tables revised in 2010” mortality tables are used.
As in the previous year, the calculation of the pension liabilities in Germany is based on a discount rate
determined using the Mercer Yield Curve (MYC) approach.
Remeasurements, such as gains or losses arising from changes in the actuarial assumptions for defined
benefit pension plans during the financial year or a return on the plan assets exceeding the interest income, are
immediately recognised outside the income statement in the consolidated statement of comprehensive income.
The remeasurements recognised in 2013 in the consolidated statement of comprehensive income result in an
increase in other reserves of € 6 million (2012: reduction of € 35 million).
Pension expenses for defined benefit pension plans
(€ in millions) Year ending
Dec. 31, 2013
Year ending
Dec. 31, 2012
Current service cost 16 16
Net interest, thereof 8 8
Interest cost 11 11
Interest income (3) (3)
Expenses for defined benefit pension plans
(considered in the consolidated income statement) 24 24
Actuarial (gains)/losses, thereof: (3) 39
due to experience adjustments 3 3
due to changes in demographic assumptions 1 (1)
due to changes in financial assumptions (7) 37
Return on plan assets (not included in net interest income) (3) (4)
Remeasurements for defined benefit pension plans
(considered in the consolidated statement of comprehensive income) (6) 35
Total 18 59
Of the total pension expenses recorded in the consolidated income statement, an amount of € 16 million (2012:
€ 15 million) relates to employees of adidas AG, € 0.2 million (2012: € 0.0 million) relates to employees in the UK
and € 2 million (2012: € 3 million) relates to employees in Japan. The pension expense is mainly recorded within
other operating expenses. The production-related part of the pension expenses is recognised within cost of sales.
Present value of the defined benefit obligation
(€ in millions) 2013 2012
Present value of the obligation from defined benefit pension plans as at January 1 317 260
Currency translation differences (6) 2
Current service cost 16 16
Interest cost 11 11
Contribution by plan participants 0 0
Pensions paid (10) (11)
Actuarial (gains)/losses, thereof: (3) 39
due to experience adjustments 3 3
due to changes in demographic assumptions 1 (1)
due to changes in financial assumptions (7) 37
Plan settlements 0 0
Present value of the obligation from defined benefit pension plans as at December 31 325 317