Suzuki 2014 Annual Report Download - page 55
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Please find page 55 of the 2014 Suzuki annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Consolidated Financial Statements
SUZUKI MOTOR CORPORATION 53
(Year ended March 31, 2014)
1.Outlineofadoptedretirementbenetsystems
As for The Company, cash balance corporate pension plan and lump-sum retirement benet plan are established. And as for
some of consolidated subsidiaries, dened benet corporate pension plan and lump-sum retirement benet plan are estab-
lished. As for some foreign consolidated subsidiaries, dened contribution plan are established.
Some consolidated subsidiaries adopt simplied methods for the calculation of retirement benets.
2.Denedbenetplan
(a)Reconciliationofretirementbenetobligationfromtheopeningbalancetotheclosingbalance
Millions of yen
Thousands of
US dollars
Opening balance of retirement benet obligation ¥108,739 $1,056,548
Service cost 6,024 58,538
Interest cost 2,199 21,373
Actuarial differences arised in current scal year (611)(5,940)
Retirement allowance paid (4,940)(48,003)
Past service cost arised in current scal year 159 1,551
Others (475)(4,623)
Closing balance of retirement benet obligation ¥111,096 $1,079,445
(b) Reconciliation of pension assets from the opening balance to the closing balance
Millions of yen
Thousands of
US dollars
Opening balance of pension assets ¥83,842 $814,639
Expected return on pension assets 825 8,022
Actuarial differences arised in current scal year 808 7,851
Contribution from employers 8,028 78,002
Retirement allowance paid (3,512)(34,127)
Others 48 468
Closing balance of pension assets ¥90,040 $874,856
(c)Reconciliationbetweenclosingbalanceofretirementbenetobligationandpensionassetsandnetamountofliability/asset
forretirementbenetsrecognizedinconsolidatedbalancesheet
Millions of yen
Thousands of
US dollars
Dened benet obligation of funded severance plan ¥82,668 $803,232
Plan asset (90,040)(874,856)
(7,371)(71,623)
Dened benet obligation of unfunded severance plan 28,427 276,212
Net amount of liability and asset for retirement benets
recognized in consolidated balance sheet ¥21,056 $204,589
Liability for retirement benets ¥36,918 $358,712
Asset for retirement benets (15,862)(154,123)
Net amount of liability and asset for retirement benets
recognized in consolidated balance sheet ¥21,056 $204,589