Alpine 2009 Annual Report Download - page 24

Download and view the complete annual report

Please find page 24 of the 2009 Alpine annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 36

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36

24
7. Provision for Retirement Benefits
Provision for retirement benefits included in the liability in the consolidated balance sheets and the related expenses for 2009 and 2008, which were
determined based on the amounts obtained by actuarial calculations, were as follows:
2009 2008 2009
Provision for retirement benefits:
Projected benefit obligation ¥(9,689) ¥(9,594) $(98,636)
Unamortized actuarial differences 2,333 1,665 23,750
Pension assets 8,095 8,812 82,409
Prepaid pension expense (1,371) (1,552) (13,957)
Provision for retirement benefits: ¥ (632) ¥ (669) $ (6,434)
Thousands of U.S. DollarsMillions of Yen
2009 2008 2007 2009
Provision for retirement benefits:
Service costs – Benefits earned during the year ¥ 476 ¥ 450 ¥ 382 $ 4,846
Interest costs on projected benefit obligation 211 208 200 2,148
Expected return on plan assets (205) (229) (217) (2,087)
Amortization of actuarial differences 171 99 111 1,741
Additional retirement benefit — — 48 —
Other expenses (Defined Contribution, etc.) 144 134 144 1,466
Provision for retirement benefits ¥ 797 ¥ 662 ¥ 668 $ 8,114
Millions of Yen Thousands of U.S. Dollars
An overseas subsidiary has adopted defined benefit pension scheme in a multi-employer pension fund, and the subsidiary accounted for the expenses
based on the amounts of contribution. The pension assets and liabilities of the whole pension fund were as follows:
Pension Assets ¥1,576 $16,044
Pension Liabilities 1,793 18,253
Surplus (Deficit) ¥ (217) $ (2,209)
The ratio of the subsidiary’s contribution to the whole fund was 27.0%.
Thousands of U.S. DollarsMillions of Yen
The discount rate and the rate of expected return on plan assets used by the Company were 2.5% for 2009, 2008 and 2007. The estimated amount of all
retirement benefits to be paid at the future retirement date was allocated equally to each service year using the estimated number of total service years.
Prior service costs were recognized as expense within one year, and actuarial gains or losses were recognized as income or expense using the straight-
line method over 16 years.