Unilever 2001 Annual Report Download - page 75

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Unilever Annual Report & Accounts and Form 20-F 2001
NOTES TO THE CONSOLIDATED ACCOUNTS
Unilever Group
>72
17 Pensions and similar obligations continued
million million million million million million
Other Other Other
Pension plans Pension plans Pension plans benefit plans benefit plans benefit plans
2001 2000 1999 2001 2000 1999
Components of net periodic benefit cost
Service cost (gross) 253 231 217 20 16 14
Interest cost 737 698 518 83 64 45
Expected return on plan assets (1 007) (932) (683) –––
Employee contributions (1) –––––
Amortisation of prior service cost 24 26 25 –––
Amortisation of transition (asset) (63) (66) (64) –––
Amortisation of actuarial loss/(gain) (81) (58) (5) (2) (2) –
Total before SFAS 88 events (138) (101) 8 101 78 59
Adjustments for SFAS 88 events 43 19 21 (2) (1) –
Net periodic benefit cost (95) (82) 29 99 77 59
The projected benefit obligation, accumulated benefit obligation, and fair value of plan assets for the pension plans with accumulated
benefit obligations in excess of plan assets were 2 171 million, 2 035 million, and 1 308 million respectively, as of 31 December 2001
and 2 122 million, 2 019 million, and 1 441 million respectively, as of 31 December 2000.
The Group also maintains a number of smaller defined benefit plans. Approximately 1 685 million (2000: 1 755 million) is provided for
on their behalf in the Group balance sheet. In 2001, 202 million (2000: 151 million; 1999: 130 million) was charged in the accounts.
These amounts would not have been materially different under SFAS 87.
In addition to the special termination benefits included in the table above, during 2001, the Group also charged 49 million
(2000: 56 million; 1999: 28 million) in respect of pension or similar obligations arising on terminations of employment.
Post-retirement health care benefits
Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. A one-percentage-point
change in assumed health care cost trend rates would have the following effects:
million million
1% point 1% point
increase decrease
Effect on total of service and interest cost components 13 (12)
Effect on post-retirement benefit obligation 92 (82)