Saab 2011 Annual Report Download - page 116

NOTE 37, CONT.
Group
MSEK 31-12-2011 31-12-2010
Wholly or partially funded obligations
Present value of defined-benefit obligations 6,319 4,969
Fair value of assets under management -4,446 -4,298
Net wholly or partially funded obligations 1,873 671
Present value of unfunded defined-benefit obligations 222 264
Present value of net obligation 2,095 935
Unreported actuarial losses -2,678 -1,404
Net obligation employee benefits -583 -469
The net amount is reported in the following items in the statement of financial
position
Provisions for pensions 12 5
Long-term receivables 595 474
The net amount is divided among plans in the
following countries
Sweden -523 -413
USA -72 -61
Germany 5 5
Switzerland 7 -
Net amount in the statement of financial position -583 -469
Unreported actuarial losses amount to  , (,). Actuarial losses
are calculated as the dierence between pension obligations and the liability
according to the statement of nancial position. If the actuarial losses are
more than  per cent of the pension obligation, the portion exceeding  per
cent is amortised over the remaining period of employment for employees
covered by dened-benet plans. According to the above table, the actuarial
losses exceed the pension obligation for  by more than  per cent. is
means that the dierence between   and  , will be distrib-
uted over anticipated remaining years in service.
During , amortisation will be approximately  .
Unreported actuarial losses
Group 31 December
MSEK 2011 2010 2009 2008 2007
Present value of defined-benefit
obligations -6,541 -5,233 -5,577 -5,004 -4,679
Fair value of assets under man-
agement 4,446 4,298 3,907 3,356 3,565
Net obligation in the statement of
financial position -583 -469 -475 -424 101
Losses -2,678 -1,404 -2,145 -2,072 -1,013
e unreported actuarial loss amounted to  , in , primarily due
to two negative factors. e return on assets under management was lower
than expected at -. per cent, compared to an anticipated per cent, which
produced an actuarial loss of  . e actuarial loss on pension obliga-
tions amounted to  ,, which was due to a  bp lower discount rate.
e actuarial loss was amortised by   during the year. e net loss
increased by  ,.
Changes in net obligation for defined-benefit plans reported
in the statement of financial position
Group
MSEK 2011 2010
Net obligation for defined-benefit plans, 1 January -469 -475
Compensation paid -208 -189
Deposits to pension fund and other funding -132 -170
Cost reported in income statement 216 339
Settlement/Translation difference -9 3
Withdrawals from pension fund 19 23
Net obligation for defined-benefit plans, 31 December -583 -469
Change in pension obligation
Group
MSEK 2011 2010
Opening fair value, 1 January 5,233 5,577
Benefits vested during the year 156 170
Interest expense 249 226
Pension disbursements -208 -189
Settlement 56 -14
Actuarial gain/loss 1,048 -523
Translation differences 7-14
Closing fair value, 31 December 6,541 5,233
Change in assets under management
Group
MSEK 2011 2010
Opening fair value, 1 January 4,298 3,907
Assumed return 259 201
Withdrawals -19 -23
Settlement 60 -14
Contributions 132 170
Actuarial gain/loss -290 68
Translation differences 6 -11
Closing fair value, 31 December 4,446 4,298
Cost reported in income statement
Group
MSEK 2011 2010
Costs for employment during current year 156 170
Interest expense for obligation 249 226
Assumed return on assets under management -259 -201
Amortised actuarial losses 70 144
Cost of defined-benefit plans in income statement 216 339
Cost of defined-contribution plans 531 490
Payroll tax 146 185
Total cost of post-employment compensation 893 1,014
FINANCIAL INFORMATION > NOTES
112 SAAB ANNUAL REPORT 2011