Vodafone 2003 Annual Report Download - page 138

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Vodafone Group Plc Annual Report & Accounts and Form 20-F 2003
136
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Continued
UK defined benefit pension plan
2003 2002 2001
£m £m £m
Service cost 23 27 24
Interest costs on projected benefit obligation 16 11 11
Actual loss on plan assets 73 721
Net deferred items (87) (19) (33)
Net periodic pension cost 25 26 23
Change in benefit obligation
Benefit obligation at 1 April 258 184 168
Service cost 23 27 24
Interest cost 16 11 11
Members’ contributions 998
Amendments –––
Actuarial loss/(gain) 28 33 (24)
Benefits paid (estimated) (7) (6) (3)
Benefit obligation at 31 March 327 258 184
Change in plans’ assets
Fair value of assets at 1 April 229 178 167
Actual loss on plans’ assets (73) (7) (21)
Employer’s contributions 106 55 27
Members’ contributions 998
Benefits paid (estimated) (7) (6) (3)
Fair value of assets at 31 March 264 229 178
Funded status
Projected benefit obligation (327) (258) (184)
Fair value of plan assets 264 229 178
Unrecognised net loss 195 80 27
Prior period service cost 112
Prepaid pension cost 133 52 23
Weighted-average actuarial assumptions:
Discount rate 5.9% 6.5% 5.9%
Rate of compensation increase 4.0% 4.0% 4.0%
Expected long term return on plan assets 7.5% 8.0% 6.5%
Amount recognised in the statement of financial position:
Unfunded benefit obligation 15
Net amount recognised 133
Accrued benefit liability 148
Intangible asset 1
Other comprehensive income 147
37. US GAAP information continued