Toyota 2005 Annual Report Download - page 107

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS >105
Information regarding Toyota’s defined benefit plans follow:
U.S. dollars
Yen in millions in millions
March 31, March 31,
2004 2005 2005
Change in benefit obligation
Benefit obligation at beginning of year ...................................................................... ¥2,346,127 ¥1,891,051 $17,609
Service cost .................................................................................................................. 75,988 60,715 565
Interest cost ................................................................................................................. 48,674 37,790 352
Plan participants’ contributions................................................................................. 2,245 1,078 10
Plan amendments........................................................................................................ (7,903) (47,535) (443)
Projected benefit obligation settled due to the separation of
substitutional portion ............................................................................................... (752,646) (304,184) (2,832)
Actuarial gain............................................................................................................... (11,280) (80,370) (748)
Acquisition and other ................................................................................................. 265,969 (32,816) (306)
Benefits paid ................................................................................................................ (76,123) (74,990) (698)
Benefit obligation at end of year ............................................................................ 1,891,051 1,450,739 13,509
Change in plan assets
Fair value of plan assets at beginning of year............................................................. 932,166 1,049,815 9,776
Actual return on plan assets........................................................................................ 171,600 43,866 408
Acquisition and other ................................................................................................. 128,031 (10,304) (96)
Employer contributions.............................................................................................. 213,790 86,128 802
Plan participants’ contributions................................................................................. 2,245 1,078 10
Assets transferred to the government due to the separation of
substitutional portion ............................................................................................... (321,894) (160,909) (1,498)
Benefits paid ................................................................................................................ (76,123) (74,990) (698)
Fair value of plan assets at end of year.................................................................. 1,049,815 934,684 8,704
Funded status................................................................................................................... 841,236 516,055 4,805
Unrecognized actuarial loss ............................................................................................ (478,830) (256,628) (2,389)
Unrecognized prior service costs .................................................................................... 129,965 171,753 1,599
Unrecognized net transition obligations........................................................................ (27,572) (13,290) (124)
Net amount recognized .......................................................................................... ¥ 464,799 ¥ 417,890 $ 3,891
In connection with the enactment of the CDBPPL and
the transfer of the Substitutional Portion, the parent
company performed its pension funding calculations for
the Toyota Motor Pension Fund as required by the
CDBPPL and contributed ¥115,294 million to plan assets
in cash during the year ended March 31, 2004, equivalent
to the unfunded “Corporate Portion” of the EPF.
Amounts recognized in the consolidated balance sheets are comprised of the following:
U.S. dollars
Yen in millions in millions
March 31, March 31,
2004 2005 2005
Accrued pension and severance costs............................................................................. ¥725,569 ¥646,989 $6,025
Prepaid pension and severance costs.............................................................................. (164,176) (173,078) (1,612)
Investments and other assets........................................................................................... (18,627) (7,027) (66)
Accumulated other comprehensive income................................................................... (77,967) (48,994) (456)
Net amount recognized .............................................................................................. ¥464,799 ¥417,890 $3,891
The accumulated benefit obligation for all defined benefit pension plans was ¥1,688,666 million and ¥1,284,339 million
($11,959 million) at March 31, 2004 and 2005, respectively.