Food Lion 2013 Annual Report Download - page 137
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Defined Benefit Plans
(in millions of €)
2013
2012
2011
United
States
Plans
Plans
Outside
of the
United
States Total
United
States
Plans
Plans
Outside
of the
United
States Total
United
States
Plans
Plans
Outside
of the
United
States Total
Change in benefit obligation:
Benefit obligation at January 1
180
153
333
174
122
296
161
117
278
Current service cost
1
5
6
2
5
7
8
4
12
Interest expense
7
3
10
8
5
13
8
5
13
Remeasurement (gain) loss
Effect of changes in demographic
assumptions
— — — — 6 6 — — —
Effect of changes in financial
assumptions
(4) (12) (16) (3) 20 17 13 3 16
Effect of experience adjustment
3
(8)
(5)
(2)
4
2
(2)
—
(2)
Past service cost
—
(1)
(1)
—
—
—
(10)
1
(9)
Currency translation effect
(7)
—
(7)
(3)
—
(3)
6
—
6
Benefit payments from the plan
(24)
(9)
(33)
(19)
(12)
(31)
(10)
(9)
(19)
Benefit payments from the employer
—
—
—
—
—
—
(1)
—
(1)
Settlement payments
—
1
1
—
1
1
—
1
1
Plan participants’ contributions
1
1
2
1
1
2
1
1
2
Business combinations/divestures/ transfers
—
—
—
22
1
23
—
—
—
Other
—
(1)
(1)
—
—
—
—
(1)
(1)
Benefit obligation at December 31
157
132
289
180
153
333
174
122
296
Change in plan assets:
Fair value of plan assets at January 1
125
72
197
130
73
203
123
74
197
Interest income
4
1
5
5
3
8
6
3
9
Remeasurement gain (loss)
Return on plan asset (excluding interest
income)
(6) (4) (10) 4 5 9 (4) 3 (1)
Changes in asset ceiling (excluding
interest income)
— — — — — — — — —
Currency translation effect
(5)
—
(5)
(2)
—
(2)
4
—
4
Employer contributions
9
8
17
6
3
9
12
2
14
Plan participants’ contributions
1
1
2
1
1
2
1
1
2
Benefits payments from the plan
(24)
(9)
(33)
(19)
(12)
(31)
(11)
(9)
(20)
Settlement payments
—
— — — — — — — —
Expenses, taxes and premiums paid
—
—
—
—
(1)
(1)
—
(1)
(1)
Business combinations/divestures/
transfers
— — — — — — — — —
Other
—
(1)
(1)
—
—
—
(1)
—
(1)
Fair value of plan assets at December 31
104
68
172
125
72
197
130
73
203
Amounts recognized in the balance
sheet:
Present value of defined benefit obligations
157
132
289
180
153
333
174
122
296
Fair value of plan assets
104
68
172
125
72
197
130
73
203
Net deficit/(surplus)
53
64
117
55
81
136
44
49
93
Defined benefit liability
53
64
117
59
81
140
44
49
93
Defined benefit asset
—
—
—
(4)
—
(4)
—
—
—
Net defined benefit liability
53
64
117
55
81
136
44
49
93
Weighted average assumptions used to
determine benefit obligations:
Discount rate
4.85%
3.19%
3.49%
2.27%
4.17%
3.99%
Rate of compensation increase
4.25%
3.03%
4.25%
2.66%
4.25%
3.02%
Rate of price inflation
3.48%
2.02%
3.05%
2.00%
3.05%
2.00%
Interest crediting rate (only applicable for
the Hannaford Cash Balance Plan)
4.00% —
4.00% — 3.00% —
DELHAIZE GROUP ANNUAL REPORT 2013 FINANCIAL STATEMENTS
135