Aer Lingus 2012 Annual Report Download - page 104

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FINANCIAL STATEMENTS Aer Lingus Group Plc
ANNUAL REPORT 2012
102
Actuarial losses recognised in the statement of other comprehensive income during the year:
2012 2011
€'000 €'000
Funded (a) 299 3,218
Unfunded (b) 4,550 1,675
4,849 4,893
Cumulative actuarial losses/(gains) recognised in the statement of other comprehensive income:
2012 2011
€'000 €'000
Funded (a) 885 586
Unfunded (b) 2,683 (1,867)
3,568 (1,281)
The dates of the most recent actuarial valuations in respect of the various schemes are as follows:
Valuation Date
Funded
North American Pension 31 December 2012
Other 31 December 2012
Unfunded
Post Employment Income Streaming 31 December 2012
North American Post Retirement Medical Benefit 31 December 2012
Valuations are not available for public inspection; however they are available to the members of the above schemes.
(a) Funded
The Group operates a defined benefit scheme for qualifying employees in its operation in North America. Under the scheme, employees
are entitled to retirement benefits of 50% of final average compensation as a lump sum, plus 1% final average compensation for each year
of membership, on attainment of retirement age of 65. Retirement benefits are reduced for service less than 20 years. The scheme has 119
members (2011: 119) with benefit accruals and plan participation frozen.
The Group also operates a non contributory defined benefit scheme in respect of two retired Irish executives.
The movement in the defined benefit obligation over the year is as follows:
2012 2011
€'000 €'000
At 1 January 14,481 12,476
Interest cost 587 626
Actuarial (gains)/losses (31) 2,186
Past service (credit)/cost -(457)
Benefits paid (615) (350)
At 31 December 14,422 14,481
Notes to the consolidated financial statements (continued)