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54 SUZUKI MOTOR CORPORATION
Consolidated Financial Statements
NOTE 7:Retirementandseverancebenet
(Year ended 31 March 2014)
1 Outlineofadoptedretirementbenetsystems
As for The Company, cash balance corporate pension plan and lump-sum retirement benet plan are established. And as for some
of consolidated subsidiaries, dened benet corporate pension plan and lump-sum retirement benet plan are established. As for
some foreign consolidated subsidiaries, dened contribution plan are established.
Some consolidated subsidiaries adopt simplied methods for the calculation of retirement benets.
2 Denedbenetplan
(a) Reconciliationofretirementbenetobligationfromtheopeningbalancetotheclosingbalance
Millions of yen
Opening balance of retirement benet obligation ¥108,739
Service cost 6,024
Interest cost 2,199
Actuarial differences arised in current scal year (611)
Retirement allowance paid (4,940)
Past service cost arised in current scal year 159
Others (475)
Closing balance of retirement benet obligation ¥111,096
(b) Reconciliation of pension assets from the opening balance to the closing balance
Millions of yen
Opening balance of pension assets ¥83,842
Expected return on pension assets 825
Actuarial differences arised in current scal year 808
Contribution from employers 8,028
Retirement allowance paid (3,512)
Others 48
Closing balance of pension assets ¥90,040
(c) Reconciliationbetweenclosingbalanceofretirementbenetobligationandpensionassetsandnetamountofliability/assetfor
retirementbenetsrecognizedinconsolidatedbalancesheet
Millions of yen
Dened benet obligation of funded severance plan ¥82,668
Plan asset (90,040)
(7,371)
Dened benet obligation of unfunded severance plan 28,427
Net amount of liability and asset for retirement benets
recognized in consolidated balance sheet ¥21,056
Liability for retirement benets ¥36,918
Asset for retirement benets (15,862)
Net amount of liability and asset for retirement benets
recognized in consolidated balance sheet
¥21,056
(d) Breakdownofretirementbenetexpenses
Millions of yen
Service cost ¥6,024
Interest cost 2,199
Expected return on plan assets (825)
Recognition of actuarial gains and losses 527
Amortization of past service cost (636)
Others (656)
Total amount of retirement benet expenses for dened
benet plans ¥6,633