Vodafone 2002 Annual Report Download - page 138

Download and view the complete annual report

Please find page 138 of the 2002 Vodafone 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.

Page out of 156

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156

Vodafone Group Plc Annual Report & Accounts and Form 20-F Notes to the Consolidated Financial Statements136
Notes to the Consolidated Financial Statements continued
37. US GAAP information continued
UK defined benefit pension plan
The net pension cost, benefit obligations, plan assets and funded status under US GAAP comprised the following:
2002 2001 2000
£m £m £m
Service cost 27 24 19
Interest costs on projected benefit obligation 11 11 8
Actual loss/(return) on plan assets 721 (21)
Net deferred items (19) (33) 15
Net periodic pension cost 26 23 21
Change in benefit obligation
Benefit obligation at 1 April 184 168 135
Service cost 27 24 19
Interest cost 11 11 8
Members’ contributions 986
Amendments –– 1
Actuarial loss/(gain) 33 (24) 1
Benefits paid (estimated) (6) (3) (2)
Benefit obligation at 31 March 258 184 168
Change in plans’ assets
Fair value of assets at 1 April 178 167 120
Actual (loss)/return on plans’ assets (7) (21) 21
Employer’s contributions 55 27 22
Members’ contributions 986
Benefits paid (estimated) (6) (3) (2)
Fair value of assets at 31 March 229 178 167
Funded status
Projected benefit obligation (258) (184) (168)
Fair value of plan assets 229 178 167
Unrecognised net loss 80 27 17
Prior period service cost 122
Prepaid pension cost 52 23 18
Weighted-average actuarial assumptions
Discount rate 6.5% 5.9% 5.75%
Rate of compensation increase 4.0% 4.0% 4.5%
Expected long-term return on plan assets 8.0% 6.5% 6.5%