Volvo 2008 Annual Report Download - page 112

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Notes to consolidated fi nancial statements
108
THE VOLVO GROUP
Financial information 2008
Net provision for
post-employment benefi ts Sweden
Pensions
United
States
Pensions
France
Pensions
Great
Britain
Pensions
US Other
benefi ts
Other
plans Total
Funded status at December 31, 2007 (1,803) 988 (1,800) 303 (5,446) (2,458) (10,216)
Unrecognized actuarial (gains) and losses 1,616 (111) 115 255 67 278 2,220
Unrecognized past service costs – (1) 422 – (66) (2) 353
Net provisions for post-employment
benefi ts at December 31, 2007 (187) 876 (1,263) 558 (5,445) (2,182) (7,643)
whereof reported as
Prepaid pensions and other assets 12 1,226 – 558 242 93 2,131
Provisions for post-employment benefi ts (199) (350) (1,263) – (5,687) (2,275) (9,774)
Funded status at December 31, 2008 (3,630) (2,976) (2,087) (43) (6,867) (3,463) (19,066)
Unrecognized actuarial (gains) and losses 3,476 4,021 207 604 382 630 9,320
Unrecognized past service costs – (1) 464 – (8) 27 482
Net provisions for post-employment
benefi ts at December 31, 2008 (154) 1,044 (1,416) 561 (6,493) (2,806) (9,264)
whereof reported as
Prepaid pensions and other assets 14 1,422 0 561 320 124 2,441
Provisions for post-employment benefi ts (168) (378) (1,416) 0 (6,813) (2,930) (11,705)
Plan assets by category 2007 % 2008 %
Shares and participation, Volvo 313 1 138 1
Shares and participations, other 12,422 48 9,046 41
Bonds 10,578 41 10,564 48
Property 427 2 732 3
Other 2,028 8 1,625 7
Total 25,768 100 22,105 100
Actuarial gains and losses 2007 2008
Experience-based adjustments in obligations 151 (871)
Experience-based adjustments in plan assets (222) (6,208)
Effects of changes in actuarial assumptions 959 69
Actuarial gains and (losses), net 888 (7,010)