Ricoh 2006 Annual Report Download - page 46

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Thousands of
Millions of Yen U.S. Dollars
2005
2006 2006
Change in plan assets:
Fair value of plan assets at beginning of year ¥ 213,315
¥237,500 $2,029,915
Actual return on plan assets 9,401
49,560 423,590
Employer contribution 12,359
13,853 118,402
Plan participants’ contributions 457
517 4,419
Settlement ( 3,192)
– –
Benefits paid ( 13,534)
(9,855) (84,231)
Foreign exchange im pact 2,783
3,361 28,726
Plan assets acquired in connection with business acquisition 15,911
– –
Fair value of plan assets at end of year ¥ 237,500
¥294,936 $2,520,821
Funded status ¥( 106,123)
¥ (73,877) $ (631,427)
Unrecognized net actuarial loss 102,851
64,714 553,111
Unrecognized prior service cost ( 57,134)
(54,212) (463,350)
Unrecognized net asset at transition, net of am ortization ( 984)
(533) (4,556)
Net amount recognized ¥ ( 61,390)
¥ (63,908) $ (546,222)
Amounts recognized in the balance sheets consist of:
Prepaid benefit cost ¥ 4,685
¥ 18,170 $ 155,299
Accrued benefit liability ( 91,022)
(94,765) (809,957)
Intangible assets 111
55 470
Accum ulated other com prehensive income, gross of tax 24,836
12,632 107,966
Net amount recognized ¥ ( 61,390)
¥ (63,908) $ (546,222)
Accum ulated benefit obligations ¥ 313,715
¥354,060 $3,026,154
Weighted-average assumptions used to determ ine benefit obligations at March 31, 2005 and 2006 were as follows:
2005
2006
Discount rate 3.0%
2 .8 %
Rate of com pensation increase 5.0%
5 .4 %
Weighted-average assumptions used to determ ine the net periodic benefit cost for the years ended March 31, 2004, 2005 and 2006 were as follows:
2004 2005
2006
Discount rate 2.6% 2.9%
3 .0 %
Rate of com pensation increase 3.4% 5.3%
5 .0 %
Expected long-term return on plan assets 2.5% 2.9%
3 .2 %
The net periodic benefit costs of the pension plans for the three years ended March 31, 2006 consisted of the following components:
Thousands of
Millions of Yen U.S. Dollars
2004 2005
2006 2006
Service cost ¥15,694 ¥14,762
¥14,691 $125,564
Interest cost 12,719 9,218
10,192 87,111
Expected return on plan assets ( 5,872) ( 6,571)
(7,645) (65,342)
Net amortization 10,805 1,648
1,833 15,667
Settlement benefit ( 2,537) ( 980)
(140) (1,197)
Total net periodic pension cost ¥30,809 ¥18,077
¥18,931 $161,803
45 ANNUAL REPORT 2006