ICICI Bank 2009 Annual Report Download - page 102

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F28
Experience adjustment
Rupees in million
Particulars Year ended
March 31, 2009 Year ended
March 31, 2008 Year ended
March 31, 2007
Plan assets ........................................................................... 2,145.3 1,490.1 988.5
Defined benefit obligations .................................................. 1,932.2 1,678.1 1,029.4
Amount not recognised as an asset (limit in para 59 (b)) .... 51.2 ——
Surplus/(deficit) .................................................................... 161.9 (188.0) (40.9)
Experience adjustment on plan assets ................................ 144.8 (117.9) (110.1)
Experience adjustment on plan liabilities ............................ 6.6 (121.9) 32.8
Gratuity
Reconciliation of opening and closing balance of the present value of the defined benefit obligation for gratuity benefits is
given below: Rupees in million
Particulars Year ended
March 31, 2009 Year ended
March 31, 2008
Opening obligations ............................................................................................ 1,840.4 1,142.1
Add: Adjustment for exchange fluctuation on opening obligations .................... 6.4 —
Add: Addition due to amalgamation/initial recognition of foreign branches ....... 0.9 506.6
Service cost ........................................................................................................... 321.6 292.8
Interest cost .......................................................................................................... 183.9 136.4
Actuarial (gain)/loss ............................................................................................... 140.3 (62.0)
Transitional obligation/(asset) ............................................................................... —(0.2)
Liability assumed on acquisition/(settled on divestiture) ..................................... (28.8) —
Benefits paid ......................................................................................................... (269.0) (175.3)
Obligations at end of year .................................................................................. 2,195.7 1,840.4
Opening plan assets, at fair value ...................................................................... 1,506.7 891.7
Add: Addition due to amalgamation ..................................................................... —73.1
Expected return on plan assets ............................................................................ 128.5 74.4
Actuarial gain/(loss) ............................................................................................... (118.0) (24.8)
Contributions ......................................................................................................... 1,052.7 667.6
Assets acquired on acquisition/(distributed on divestiture) ................................. (28.8) —
Benefits paid ......................................................................................................... (269.0) (175.3)
Closing plan assets, at fair value ........................................................................ 2,272.1 1,506.7
Fair value of plan assets at the end of the year .................................................... 2,272.1 1,506.7
Present value of the defined benefit obligations at the end of the year .............. 2,195.7 1,840.4
Amount not recognised as an asset (limit in Para 59(b)) ...................................... 7.9 —
Asset/(liability) .................................................................................................... 68.5 (333.7)
Cost for the year ..................................................................................................
Service cost ........................................................................................................... 321.6 292.8
Interest cost .......................................................................................................... 183.9 136.4
Expected return on plan assets ............................................................................ (128.5) (74.4)
Actuarial (gain)/loss ............................................................................................... 258.3 (37.2)
Exchange fluctuation loss/(gain) ........................................................................... 6.4 —
Transitional obligation/(asset) ............................................................................... —(0.2)
Effect of the limit in para 59(b) ............................................................................. 7.9 —
Net cost ................................................................................................................ 649.6 317.4
forming part of the Accounts (Contd.)
schedules