Experian 2008 Annual Report Download - page 110

Download and view the complete annual report

Please find page 110 of the 2008 Experian 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 148

  • 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
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148

108 Experian Annual Report 2008
27. Retirement benefit assets/obligations (continued)
Amounts recognised in the Group profit and loss account reserve
2008 2007
US$m US$m
Current service cost 20 53
Curtailment gain (8) (6)
Interest on schemes’ liabilities 53 78
Expected return on schemes’ assets (76) (107)
Total (credit)/charge to Group income statement (11) 18
Actuarial gain recognised in Group statement of recognised income and expense (15) (65)
Charge to profit and loss account reserve in respect of the Argos Pension Scheme – 41
Total (credit) to Group profit and loss account reserve (26) (6)
The (credit)/charge to the Group income statement includes US$nil (2007: US$17m) in respect of discontinued operations.
The curtailment gain in the year ended 31 March 2008 of US$8m arises principally from the restructuring of continuing
businesses in the UK. The curtailment gain in the year ended 31 March 2007 arose from the restructuring of the UK Account
Processing and the UK Marketing Services businesses, as well as the cessation of certain corporate functions in GUS plc.
The charge to the Group profit and loss account reserve in the year ended 31 March 2007 in respect of the Argos Pension
Scheme formed part of the dividend in specie on the demerger of Home Retail Group.
Movements during the year in the net retirement benefit asset recognised in the Group balance sheet
2008 2007
US$m US$m
At 1 April 85 31
Differences on exchange – 10
Total amounts recognised in Group income statement – as disclosed below 11 (18)
Actuarial (loss)/gain recognised in Group statement of recognised income and expense 15 65
Charge to profit and loss account reserve in respect of the Argos Pension Scheme – (41)
Contributions paid by the Group 21 38
At 31 March 132 85
Expense recognised in the following lines in the Group income statement
2008 2007
US$m US$m
Administrative costs (after exceptional income of US$5m (2007: US$4m)) 12 17
Net financing income (23) (16)
Continuing operations (11) 1
Discontinued operations – 17
Total charge to Group income statement (11) 18
Actuarial gains and losses recognised in the Group statement of recognised income and expense
2008 2007
US$m US$m
Gain on liabilities 116 75
Loss on assets (101) (3)
Continuing operations 15 72
Discontinued operations – (7)
Total gain included in Group statement of recognised income and expense in year 15 65
Notes to the Group financial statements continued