Cathay Pacific 2007 Annual Report Download - page 70

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Notes to the Accounts
Balance Sheet
15. Retirement benefits (continued)
Group Company
2007
HK$M
2006
HK$M
2007
HK$M
2006
HK$M
Net liability recognised in the balance sheet:
Present value of funded obligations 8,223 7,844 7,549 7,196
Fair value of plan assets (9,131) (8,065) (8,353) (7,369)
(908) (221) (804) (173)
Net unrecognised actuarial gains 1,176 391 1,091 376
268 170 287 203
Group Company
2007
HK$M
2006
HK$M
2007
HK$M
2006
HK$M
Movements in present value of funded
obligations comprise:
At 1st January 7,844 7,341 7,196 6,818
Movements for the year
– current service cost 376 325 341 299
– interest cost 277 336 255 300
– employees contributions 24 27 24 27
– benefits paid (503) (530) (445) (509)
– purchase of a subsidiary –78 ––
– actuarial losses 205 267 178 261
At 31st December 8,223 7,844 7,549 7,196
Group Company
2007
HK$M
2006
HK$M
2007
HK$M
2006
HK$M
Movements in fair value of plan
assets comprise:
At 1st January 8,065 7,387 7,369 6,833
Movements for the year
– expected return on plan assets 520 437 478 403
– employees contributions 24 27 24 27
– employer contributions 35 127 34 120
– benefits paid (503) (530) (445) (509)
– purchase of a subsidiary –88 ––
– actuarial gains 990 529 893 495
At 31st December 9,131 8,065 8,353 7,369
Cathay Pacific Airways Limited Annual Report 2007
68