Experian 2008 Annual Report Download - page 113

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111Experian 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)
History of experience gains and losses
2008 2007 2006 2005
US$m US$m US$m US$m
Present value of defined benefit obligation (913) (984) (1,989) (2,025)
Fair value of schemes’ assets 1,045 1,069 2,020 1,814
Net pension asset/(obligation) 132 85 31 (211)
2008 2007 2006 2005
Experience adjustment arising on defined benefit obligation:
Amount – Loss/(gain) (US$m) 8 (5) 2 (110)
Percentage of the present value of defined benefit obligation 0.9% 0.5% – 5.4%
Experience adjustment arising on schemes’ assets:
Amount – Loss/(gain) (US$m) 101 53 (241) –
Percentage of schemes’ assets 9.7% 5.1% 11.6% –
(b) Defined contribution schemes
The pension cost represents contributions payable by the Group to such schemes and amounted to US$37m (2007: US$33m).
28. Available for sale financial assets
(a) The analysis of available for sale financial assets disclosed in the Group balance sheet is as follows:
2008 2007
US$m US$m
At 1 April 38 37
Differences on exchange 1 (2)
Additions 4 3
Fair value losses on available for sale financial assets (1) –
At 31 March 42 38
(b) Available for sale financial assets comprise:
2008 2007
US$m US$m
Listed equity securities – UK 34 29
Listed equity securities – North America 8 9
42 38
(c) Available for sale financial assets are denominated in the following currencies:
2008 2007
US$m US$m
Sterling 34 29
US Dollar 8 9
42 38
There is no material difference between the fair value of available for sale financial assets and the book value stated above.
None of the available for sale financial assets is either past due or impaired.