Barclays 2013 Annual Report Download - page 353

Note 36: Share based payments continued
The weighted average contractual remaining life and number of options and awards outstanding (including those exercisable) at the balance
sheet date are as follows:
2013 2012
Weighted
average
remaining
contractual
life in years
Number of
options/
awards
outstanding
(000s)
Weighted
average
remaining
contractual
life in years
Number of
options/
awards
outstanding
(000s)
SVPa,b 1 524,260 1 540,872
ESASa,c – 16,803 – 77,867
Othersa0-3 215,186 0-4 200,976
There were no significant modifications to the share based payments arrangements in the years 2013, 2012 and 2011.
As at 31 December 2013, the total liability arising from cash-settled share based payments transactions was £26m (2012: £47m).
Holdings of Barclays PLC Shares
Various employee benefit trusts established by the Group, hold shares in Barclays PLC to meet obligations under the Barclays share based payment
schemes. The total number of Barclays shares held in these employee benefit trusts at 31 December 2013 was 3.2 million (2012: 6.8 million).
Dividend rights have been waived on all of these shares. The total market value of the shares held in trust based on the year end share price of
£2.72 (2012: £2.62) was £8.7m (2012: £17.8m).
Note 37: Pensions and post retirement benefits
Accounting for pensions and post retirement benefits
The Group operates a number of pension schemes including defined contribution, defined benefit and post-employment benefit schemes.
Defined contribution schemes – the Group recognises contributions due in respect of the accounting period in the income statement. Any
contributions unpaid at the balance sheet date are included as a liability.
Defined benefit schemes – the Group recognises its obligation to members of the scheme at the period end, less the fair value of the scheme
assets after applying the asset ceiling test. Actuarial gains and losses are recognised in other comprehensive income in the reporting period in
which they occur. Each scheme’s obligations are calculated using the projected unit credit method on the assumptions set out in the note
below. Scheme assets are stated at fair value as at the period end.
IAS 19 (revised) has been adopted by the Group from the mandatory effective date of 1 January 2013 and application is retrospective. The main
change is that the Group recognises the liabilities (or assets) arising from its defined benefit pension schemes in full. The deferral of actuarial
gains and losses, which was an option applied by Barclays under the previous standard, is no longer permitted. The expected return on assets
assumption has also been replaced by an assumed return on assets in line with the discount rate.
Changes in pension scheme liabilities or assets (remeasurements) that do not arise from regular pension cost, interest on net defined benefit
liabilities or assets, past service costs, settlements or contributions to the plan, are recognised in other comprehensive income. For further
details on the impacts of IAS 19 (Revised) restatements please refer to Note 46.
Remeasurements comprise experience adjustments (differences between previous actuarial assumptions and what has actually occurred) and
the effects of changes in actuarial assumptions.
Post-employment benefits – the cost of providing health care benefits to retired employees is accrued as a liability in the financial statements
over the period that the employees provide services to the Group, using a methodology similar to that for defined benefit pension schemes.
Notes
a Options/award granted over Barclays PLC shares.
b Nil cost award and therefore the weighted average exercise price was nil.
c Nil cost options and therefore there was no weighted average exercise price.
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