Volvo 2013 Annual Report Download - page 152

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Obligations in defi ned-benefi t plans Sweden
Pensions US
Pensions France
Pensions
Great
Britain
Pensions
US
Other
benefi ts Other
plans Total
Obligations at January 1, 2012 12,944 14,360 1,765 4,369 3,577 4,324 41,339
Acquisitions, divestments and other changes (1,362) (9) 84 0 (3) (45) (1,335)
Current year service costs 442 299 59 22 131 259 1,212
Interest costs 419 576 78 215 138 131 1,557
Past service costs 14 (1) 1 – 3 (112) (95)
Settlement payments from plan –––––––
Employee contributions – – 1 10 – 3 14
Remeasurements:  
– Effect of changes in assumptions 747 1,629 157 383 391 395 3,702
– Effect of experience adjustments 568 (83) 12 7 (79) (13) 412
Exchange rate translation – (879) (67) (81) (237) (298) (1,562)
Benefi ts paid (330) (763) (88) (185) (184) (241) (1,791)
Obligations as of December 31, 2012 13,442 15,129 2,002 4,740 3,737 4,403 43,453
of which
Funded defi ned-benefi t plans 11,866 14,645 6 4,740 – 2,724 33,981
Acquisitions, divestments and other changes (5) 16 – – – (160) (149)
Current year service costs 523 368 70 45 68 305 1,379
Int ere s t cost s 4 4 8 4 82 74 2 07 111 113 1,435
Past service costs 38 117 – – (65) 18 108
Settlement payments from plan –––––(30)(30)
Employee contributions – – – 10 – 3 13
Remeasurements: 
– Effect of changes in demographic assumptions (642) 103 143 (23) 16 55 (348)
– Effect of changes in fi nancial assumptions (1,946) (1,450) 74 406 (425) (100) (3,441)
– Effect of experience adjustments (176) (328) 43 8 (42) (25) (520)
Exchange rate translation 5 75 117 (174) 23
Benefi ts paid (349) (756) (125) (195) (219) (326) (1,970)
Obligations as of December 31, 2013 11,333 13,686 2,356 5,315 3,181 4,082 39,953
of which
Funded defi ned-benefi t plans 10,980 13,262 8 5,315 23 2,693 32,281
Fair value of plan assets in funded plans Sweden
Pensions US
Pensions France
Pensions
Great
Britain
Pensions US Other
benefi ts Other
plans Total
Plan assets at January 1, 2012 7,580 9,842 – 4,680 24 1,747 23,873
Acquisitions, divestments and other changes (938) 1 6 – – (25) (956)
Interest income 234 414 – 233 – 65 946
Remeasurements 339 710 – 102 – 40 1,191
Employer contributions 25 1,022 – 87 139 209 1,482
Employee contributions – – – 10 – 18 28
Exchange rate translation – (624) – (86) (1) (39) (750)
Benefi ts paid (1) (773) – (189) (139) (94) (1,196)
Plan assets as of December 31, 2012 7,239 10,592 6 4,837 23 1,921 24,618
Acquisitions, divestments and other changes – – – – – 70 70
Interest income 235 337 – 210 1 61 844
Remeasurements 376 861 – 188 (1) 80 1,504
Employer contributions 380 819 2 88 – 215 1,504
Employee contributions – – – 10 – 4 14
Exchange rate translation – (12) – 125 – 14 127
Benefi ts paid (1) (681) (1) (184) – (161) (1,028)
Plan assets as of December 31, 2013 8,229 11,916 7 5,274 23 2,204 27,653
148
FINANCIAL INFORMATION 2013