Virgin Media 2009 Annual Report Download - page 196
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VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 11—Employee Benefit Plans (Continued)
Obligations and Funded Status
The change in projected benefit obligation was as follows (in millions):
Year ended
December 31,
2009 2008
Benefit obligation at beginning of year .................................. £307.8 £323.9
Service cost ...................................................... 1.2 1.4
Interest cost ...................................................... 17.4 18.3
Members’ contributions ............................................. 0.3 0.4
Plan amendments .................................................. — 0.1
Actuarial loss (gain) ................................................ 66.4 (24.9)
Benefits paid ..................................................... (15.3) (11.4)
Benefit obligation at end of year ....................................... £377.8 £307.8
The change in plan assets was as follows (in millions):
Year ended
December 31,
2009 2008
Fair value of plan assets at beginning of year .............................. £273.9 £318.6
Actual return on plan assets .......................................... 33.9 (47.2)
Employer contributions .............................................. 13.4 13.5
Employee contributions ............................................. 0.3 0.4
Benefits paid ..................................................... (15.3) (11.4)
Fair value of plan assets at end of year .................................. £306.2 £273.9
The funded status as of December 31, 2009 and 2008 was as follows (in millions):
Year ended
December 31,
2009 2008
Projected benefit obligation ........................................... £377.8 £307.8
Plan assets ....................................................... 306.2 273.9
Funded status ..................................................... (71.6) (33.9)
Non-current liability ................................................ £(71.6) £(33.9)
The following table presents information for pension plans with a projected benefit obligation in
excess of plan assets (in millions):
December 31,
2009 2008
Projected benefit obligation ........................................... £377.8 £307.8
Fair value of plan assets ............................................. 306.2 273.9
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