Experian 2014 Annual Report Download - page 153
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Financial statements • Notes to the Group financial statements 149
34. Post-employment benefit assets and obligations
An overview of the Group’s post-employment benefit arrangements is given in note 33. Experian adopted IAS 19 (revised) ‘Employee
benefits’ with effect from 1 April 2013 and the results for the year ended 31 March 2013 are re-presented accordingly. The disclosures
required by IAS 19 (revised), which relate to the Group’s defined benefit pension arrangements and post-employment medical
benefits obligations only, are set out below.
(a) Post-employment benefit amounts recognised in the Group financial statements
(i) Balance sheet assets/(obligations)
2014
US$m
2013
US$m
Retirement benefit assets/(obligations) – funded plans:
Fair value of funded plans’ assets 1,104 994
Present value of funded plans’ obligations (1,030) (914)
Assets in the balance sheet for funded defined pension benefits 74 80
Obligations in the balance sheet for unfunded post-employment benefits:
Present value of defined pension benefits – unfunded plans (50) (45)
Present value of post-employment medical benefits (11) (11)
Liabilities in the balance sheet (61) (56)
Net post-employment benefit assets 13 24
(ii) Income statement charge/(credit)
2014
US$m
2013
(Re-presented)
(Note 3)
US$m
By nature of expense:
Current service cost 98
Administration expenses 22
Settlement or curtailment –(1)
Charge within labour costs and operating profit 11 9
Interest income (2) (4)
Total charge to income statement 9 5
By type of plan:
Defined pension benefits 84
Post-employment medical benefits 1 1
Total charge to income statement 9 5
(iii) Remeasurement recognised in the statement of comprehensive income
2014
US$m
2013
(Re-presented)
(Note 3)
US$m
Defined pension benefits (15) (56)
Post-employment medical benefits 1 –
(14) (56)