Adidas 2001 Annual Report Download - page 84

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79
Consolidated Accounts
Most pension provisions are for employees in Germany where the
actuarial assumptions for the defined benefit plans are as follows:
Defined Benefit Plans
The provision for pensions evolved as follows:
Actuarial assumptions for employee turnover and mortality are based
on empirical data, the latter on the 1998 version of the mortality tables
of Dr. Heubeck as in the prior year. The actuarial assumptions for other
countries are not materially different.
The pension obligation can be analyzed as follows:
On the basis of the actuarial valuations as at December 31, 2001 and 2000
it is not necessary to recognize the actuarial gains or losses pursuant to
the corridor approach of IAS 19.92 (revised 2000).
Pension expense attributable to the defined benefit plans comprises:
16. Other Non-Current Liabilities
Other non-current liabilities include mainly obligations under finance
leases of €9 million (see Note 19) and negative fair values of long-term
interest rate options of €4 million.
Liabilities falling due after more than five years total €3 million and
€5 million as at December 31, 2001 and 2000 respectively.
Dec. 31 Dec. 31
(euros in thousands) 2001 2000
Present value of the defined
benefit obligation 82,367 72,299
Unrecognized actuarial gains/(losses) (724) 2,585
Provision for pensions 81,643 74,884
Year ended Dec. 31
(euros in thousands) 2001 2000
Current service cost 5,236 7,719
Interest cost 4,092 3,447
Past service cost 396 121
Pension expense 9,724 11,287
Dec. 31 Dec. 31
2001 2000
Discount rate 6.00% 6.25%
Salary increases 1.7% - 3.0% 1.7% - 3.0%
Pension increases 1.7% - 2.0% 1.7% - 2.0%
(euros in thousands)
Provision for pensions as at December 31, 2000 74,884
Currency effect (360)
Pension expense 9,724
Pensions paid (2,605)
Provision for pensions as at December 31, 2001 81,643