Suzuki 2002 Annual Report Download - page 31

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SUZUKI MOTOR CORPORATION
29
6. Accrued retirement & severance benefits
(a) Outline of an adopted retirement benefit system
In the case of the Company, as a defined benefit plan, Employee Pension Fund, Approved Retirement
Annuity System and Termination Allowance Plan are established.
(b) Items related to a retirement benefit obligation
Remarks:1). The premium retirement allowance paid on a temporary basis is not included.
2). Some of subsidiaries adopt simplified methods for the calculation of retirement benefits.
(c) Items related to retirement benefit cost
Remarks:1) The amount of employees' contribution to Employees' Pension Fund is deducted.
2) The retirement benefit cost of subsidiaries where simplified methods are adopted is accounted
for “a. Service cost”.
Millions of
yen
2002 2001 2002
a. Retirement benefit obligation ¥(251,620) ¥(227,411) $(1,888,333)
b. Pension assets 126,858 130,294 952,030
c. Unrecognized retirement benefit obligation (a + b) ¥(124,762) ¥ (97,116) $ (936,302)
d. Unrecognized transition liability 32,337 43,117 242,686
e. Unrecognized difference by an actuarial calculation 32,822 17,028 246,320
f.
Unrecognized prior service cost(decrease of liabilities)
(68) —(510)
g. Accrued retirement & severance benefits (c+d+e+f) ¥ (59,670) ¥ (36,970) $ (447,806)
Thousands of
U.S. dollars
2002 2001 2002
a. Service cost ¥ 8,392 ¥ 7,872 $ 62,981
b. Interest cost 5,047 4,854 37,880
c. Assumed return on investment (4,483) (4,975) (33,647)
d. Amortized amount of transition liability 10,779 10,779 80,895
e. Amortized amount of actuarial difference 11,743 —88,132
f. Amortized amount of prior service cost (4) —(36)
g. Retirement benefit cost (a+b+c+d+e+f) ¥31,474 ¥18,530 $236,206
Thousands of
U.S. dollars