Experian 2008 Annual Report Download - page 111

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109Experian Annual Report 2008
Introduction
2 – 5
Business review
6 – 37
Governance
38 – 64
Financial statements
Group financial statements
Financial statements
Group financial statements
27. Retirement benefit assets/obligations (continued)
The cumulative actuarial gain/(loss) included in the Group statement of recognised income and expense comprises:
2008 2007
US$m US$m
Continuing operations 142 127
Discontinued operations (81) (81)
Total cumulative actuarial gain included in Group statement of recognised income and expense 61 46
Changes in the present value of the total defined benefit obligation
2008 2007
US$m US$m
At 1 April 984 1,989
Differences on exchange 11 198
Additions through business combinations 6 –
Demerger of Home Retail Group – (1,100)
Current service cost 20 53
Interest on schemes’ liabilities 53 78
Settlement or curtailment (8) (9)
Actuarial gain on liabilities (116) (118)
Contributions paid by employees 6 14
Contributions paid from outside the Group 3 2
Benefits paid (46) (123)
At 31 March 913 984
The total defined benefit obligation of US$913m (2007: US$984m) includes US$863m (2007: US$928m) in respect of the
Group’s funded arrangements and US$50m (2007: US$56m) in respect of the Group’s unfunded arrangements.
Changes in the market value of the plan assets
2008 2007
US$m US$m
At 1 April 1,069 2,020
Differences on exchange 11 208
Demerger of Home Retail Group – (1,141)
Additions through business combinations 6 –
Expected return on schemes’ assets 76 107
Settlement or curtailment – (3)
Actuarial loss on assets (101) (53)
Contributions paid by the Group 21 38
Contributions paid by employees 6 14
Contributions paid from outside the Group 3 2
Benefits paid (46) (123)
At 31 March 1,045 1,069
The actual return on plan assets was a loss of US$25m (2007: gain of US$54m).
The estimated amount of contributions expected to be paid to the Experian defined benefit pension schemes during the next
financial year is US$16m by the Group and US$5m by employees.