Electrolux 2012 Annual Report Download - page 60
Download and view the complete annual report
Please find page 60 of the 2012 Electrolux 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.-
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
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50 -
51 -
52 -
53 -
54 -
55 -
56 -
57 -
58 -
59 -
60 -
61 -
62 -
63 -
64 -
65 -
66 -
67 -
68 -
69 -
70 -
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
 |
 |
annual report 2012 notes all amounts in SEKm unless otherwise stated
Amounts recognized in balance sheet
December 31, 2012 December 31, 2011
Pension
benefits
Healthcare
benefits
Other post-
employment
benefits Total
Pension
benefits
Healthcare
benefits
Other post-
employment
benefits Total
Present value of funded obligations 21,154 2,137 —23,291 19,973 2,249 —22,222
Fair value of plan assets –18,793 –1,391 —–20,184 –18,468 –1,331 —–19,799
Surplus/deficit 2,361 746 —3,107 1,505 918 —2,423
Present value of unfunded obligations 812 —666 1,478 739 —638 1,377
Unrecognized actuarial losses (–) /gains (+) –4,508 –96 –102 –4,706 –3,360 –87 –45 –3,492
Unrecognized past-service cost — — –18 –18 — — –21 –21
Net provisions for post-employment benefits –1,335 650 546 –139 –1,116 831 572 287
Whereof reported as
Prepaid pension cost in
other non-current assets1) 1,875 — — 1,875 1,824 — — 1,824
Provisions for post-employment benefits 540 650 546 1,736 708 831 572 2,111
1) Pension assets are related to Canada, Norway, Sweden, Switzerland and the United Kingdom.
For the Group, total expenses for pensions, healthcare and other
post-employment benefits have been recognized as operating
expenses and classified as cost of goods sold, selling expenses
or administrative expenses depending on the function of the
employee. In the Parent Company, a similar classification has
been made.
Amounts recognized in income statement
December 31, 2012 December 31, 2011
Pension
benefits
Healthcare
benefits
Other post-
employment
benefits Total
Pension
benefits
Healthcare
benefits
Other post-
employment
benefits Total
Current service cost 218 1 4 223 198 1 4 203
Interest cost 809 82 25 916 865 93 28 986
Expected return on plan assets –1,142 –90 —–1,232 –1,099 –88 —–1,187
Amortization of actuarial losses/gains 159 — — 159 29 –8 —21
Other 11 — 4 15 –2 –3 11 6
Total expenses for defined
post-employment benefits 55 –7 33 81 –9 –5 43 29
Expenses for defined contribution plans — — — 446 — — — 396
Total expenses for
post-employment benefits — — — 527 — — — 425
Actual return on plan assets –1,929 — — –1,929 –735 — — –735
Reconciliation of change in present value of defined benefit obligation
for funded and unfunded obligations
2012 2011
Pension
benefits
Healthcare
benefits
Other post-
employment
benefits Total
Pension
benefits
Healthcare
benefits
Other post-
employment
benefits Total
Opening balance, January 1 20,712 2,249 638 23,599 18,998 2,068 657 21,723
Current service cost 218 1 4 223 198 1 4 203
Interest cost 809 82 25 916 865 93 28 986
Contributions by plan participants 40 15 —55 41 16 —57
Actuarial losses/gains 2,059 77 62 2,198 1,458 190 16 1,664
Exchange-rate differences on foreign plans –736 –126 –25 –887 215 38 –6 247
Benefits paid –1,090 –163 –37 –1,290 –1,062 –168 –65 –1,295
Settlements and other –46 2–1 –45 111 414
Closing balance, December 31 21,966 2 ,137 666 24,769 20,712 2,249 638 23,599
Cont. Note 22
58