Reebok 2015 Annual Report Download - page 222

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218
4
CONSOLIDATED FINANCIAL STATEMENTS
Notes – Notes to the Consolidated Statement of Financial Position
PENSION EXPENSES FOR DEFINED BENEFIT PENSION PLANS
€ in millions Year ending
Dec. 31, 2015
Year ending
Dec. 31, 2014
Current service cost 15 16
Net interest expense 6 8
Thereof: interest cost 10 12
Thereof: interest income (4) (4)
Past service cost 0 1
Gain on plan settlement (4) –
Expenses for defined benefit pension plans (recognised in the consolidated
income statement) 17 25
Actuarial (gains)/losses (12) 79
Thereof: due to changes in financial assumptions (23) 79
Thereof: due to changes in demographic assumptions (1) 0
Thereof: due to experience adjustments 12 0
Return on plan assets (not included in net interest income) (1) (1)
Asset ceiling effect (0) (1)
Remeasurements for defined benefit pension plans (recognised as (increase)/
decrease in other reserves in the consolidated statement of comprehensive
income) (13) 77
Total 4102
Of the total pension expenses recorded in the consolidated income statement, an amount of € 14 million
(2014: € 17 million) relates to employees of adidas AG, € 0.5 million (2014: € 0.2 million) relates to
employees in the UK and € 3 million (2014: € 2 million) relates to employees in South Korea. The gain on
plan settlements in an amount of € 4 million derives from the changes in the pension plans in Japan as
described above. 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 2015 2014
Present value of the obligation from defined benefit pension plans
as at January 1 427 325
Currency translation differences 8 7
Current service cost 15 16
Interest cost 10 12
Contribution by plan participants 0 0
Pensions paid (14) (13)
Payments for plan settlements (12) –
Actuarial (gains)/losses (12) 79
Thereof: due to changes in financial assumptions (23) 79
Thereof: due to changes in demographic assumptions (1) 0
Thereof: due to experience adjustments 12 0
Past service cost 0 1
Gain on plan settlements (4) 0
Present value of the obligation from defined benefit pension plans
as at December 31 419 427
The payments for plan settlements in an amount of € 12 million result from the changes in the pension
plans in Japan as described above.
In the following table, the effects of reasonably conceivable changes in the actuarial assumptions on the
present value of the obligation from defined benefit pension plans are analysed. In addition, for Germany,
the UK and South Korea the average duration of the obligation is shown.