Experian 2014 Annual Report Download - page 154
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Financial statements • Notes to the Group financial statements
Notes to the Group financial statements
for the year ended 31 March 2014 continued
150
34. Post-employment benefit assets and obligations continued
(b) Movements in net post-employment benefit assets recognised in the balance sheet
Fair value of
plan assets
US$m
Present value of obligations Net post-
employment
benefit assets
US$m
Defined
pension
benefits –
funded
US$m
Defined
pension
benefits –
unfunded
US$m
Post-
employment
medical
benefits
US$m
Total
US$m
At 1 April 2013 994 (914) (45) (11) (970) 24
Income statement (charge)/credit:
Current service cost – (8) (1) – (9) (9)
Administration expenses – (2) – – (2) (2)
Interest income/(expense) 46 (42) (2) – (44) 2
Total (charge)/credit to income statement 46 (52) (3) – (55) (9)
Remeasurements:
Return on plan assets other than interest (2) – – – – (2)
Gains/(losses) from change in
demographic assumptions – (17) (1) (1) (19) (19)
Gains/(losses) from change in
financial assumptions – 8 – – 8 8
Experience gains/(losses) – (4) 1 2 (1) (1)
Remeasurement of post-employment benefit
assets and obligations (2) (13) – 1 (12) (14)
Differences on exchange 96 (90) (3) (1) (94) 2
Contributions paid by the Group 7 – 2 1 3 10
Contributions paid by employees 3 (3) – – (3) –
Benefits paid (40) 42 (1) (1) 40 –
At 31 March 2014 1,104 (1,030) (50) (11) (1,091) 13
Fair value of
plan assets
US$m
Present value of obligations Net post-
employment
benefit assets
US$m
Defined
pension
benefits –
funded
US$m
Defined
pension
benefits –
unfunded
US$m
Post-
employment
medical
benefits
US$m
Total
US$m
At 1 April 2012 957 (827) (41) (12) (880) 77
Income statement (charge)/credit:
Current service cost – (8) – – (8) (8)
Administration expenses –(2) – – (2) (2)
Settlement or curtailment – 1 – – 1 1
Interest income/(expense) 48 (41) (2) (1) (44) 4
Total (charge)/credit to income statement 48 (50) (2) (1) (53) (5)
Remeasurements:
Return on plan assets other than interest 72 – – – – 72
Gains/(losses) from change in financial
assumptions – (128) – – (128) (128)
Experience gains/(losses) – – – – – –
Remeasurement of post-employment benefit
assets and obligations 72 (128) – – (128) (56)
Differences on exchange (52) 50 (2) 1 49 (3)
Contributions paid by the Group 11 – – – – 11
Contributions paid by employees 3 (3) – – (3) –
Benefits paid (45) 44 – 1 45 –
At 31 March 2013 994 (914) (45) (11) (970) 24