Volvo 2015 Annual Report Download - page 144

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GROUP PERFORMANCE 2015 NOTES
Obligations in defined-benefit plans Sweden
Pensions US Pensions France Pensions
Great
Britain
Pensions
US
Other
benefits Other plans Total
Obligations opening balance 2014 11,333 13,686 2,356 5,315 3,181 4,082 39,953
Acquisitions, divestments and other changes 1 1 – – 44 151 197
Current year service costs 500 344 89 52 47 322 1,354
Interest costs 446 589 81 239 134 130 1,619
Past service costs 85 3 – – –32 –35 21
Settlements – – –54 – – –37 –91
Employee contributions – – – 12 – 4 16
Remeasurements:
– Effect of changes in demographic assumptions – –257 – –23 –176 –59 –515
– Effect of changes in financial assumptions 3,781 597 372 586 35 462 5,833
– Effect of experience adjustments 62 114 19 –3 –125 111 178
Exchange rate translation – 2,846 156 724 633 307 4,666
Benefits paid –377 –1,082 –170 –231 –225 –198 –2,283
Obligations as of December 31, 2014 15,831 16,841 2,849 6,671 3,516 5,241 50,948
of which
Funded defined-benefit plans 15,396 16,238 10 6,671 26 3,683 42,024
Acquisitions, divestments and other changes ––––––59–59
Current year service costs 772 402 92 57 109 370 1,802
Interest costs 430 681 55 257 137 120 1,680
Past service costs 84 19 – – – 20 124
Settlements 160 – –20 – –184 –416 –461
Employee contributions –2 – – 14 – 4 16
Remeasurements:
– Effect of changes in demographic assumptions –166 335 – 11 39 –43 176
– Effect of changes in financial assumptions –2,707 –265 –79 –36 –111 11 –3,186
– Effect of experience adjustments –663 59 –87 –8 229 –27 –496
Exchange rate translation – 1,174 –112 128 241 –112 1,319
Benefits paid –436 –1,199 –122 –273 –304 –488 –2,824
Obligations as of December 31, 2015 13,302 18,048 2,574 6,820 3,673 4,621 49,038
of which
Funded defined-benefit plans 12,938 17,386 10 6,820 24 3,190 40,367
Fair value of plan assets in funded plans Sweden
Pensions US Pensions France Pensions
Great
Britain
Pensions US Other benefits Other plans Total
Plan assets opening balance 2014 8,229 11,916 7 5,274 23 2,204 27,653
Acquisitions, divestments and other changes –––––2164162
Interest income 329 527 – 240 1 85 1,182
Remeasurements 636 512 – 656 –3 67 1,868
Employer contributions 318 736 2 98 – 258 1,412
Employee contributions – – – 12 – 3 15
Exchange rate translation – 2,549 – 723 7 167 3,446
Benefits paid –1 –1,025 –1 –231 – –89 –1, 347
Plan assets as of December 31, 2014 9,511 15,215 8 6,772 26 2,859 34,391
Acquisitions, divestments and other changes –2–––––105–107
Interest income 261 621 – 263 1 65 1,211
Settlements ––– ––309–309
Remeasurements 285 –391 – –167 –5 30 –247
Employer contributions 216 397 1 107 – 230 950
Employee contributions – – – 14 – 4 18
Exchange rate translation – 1,071 – 132 2 –96 1,110
Benefits paid –1 –1,139 – –273 – –202 –1,615
Plan assets as of December 31, 2015 10,270 15,774 9 6,847 23 2,477 35,400