Lenovo 2014 Annual Report Download - page 192

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190 Lenovo Group Limited 2013/14 Annual Report
NOTES TO THE FINANCIAL STATEMENTS
36 Retirement benefit obligations
(continued)
(c) Additional information on post-employment benefits (pension and medical)
(continued)
Summary of pensions and post-retirement medical benefits of the Group:
2014 2013 2012 2011 2010
US$’000 US$’000 US$’000 US$’000 US$’000
Present value of defined
benefit obligations 428,935 445,183 435,760 255,673 239,566
Fair value of plan assets 272,420 281,300 230,942 180,803 158,699
Deficit 156,515 163,883 204,818 74,870 80,867
Actuarial (gains)/losses
arising on plan assets (588) (7,840) 1,786 3,642 (386)
Actuarial (gains)/losses
arising on plan liabilities (3,400) 25,014 35,751 3,548 11,226
(3,988) 17,174 37,537 7,190 10,840
The amounts recognized in the consolidated income statement are as follows:
Pension Medical
2014 2013 2014 2013
US$’000 US$’000 US$’000 US$’000
Current service cost 15,850 16,233 495 522
Past service cost (695) 26,031 (34) –
Interest cost 9,689 10,407 685 707
Interest income (5,965) (5,904) (160) (174)
Curtailment losses 2,920 (166) (494) –
Total expense recognized in
the consolidated income
statement 21,799 46,601 492 1,055
(d) The Company does not have any pension plan or post-employment medical benefits plan.
37 Business combinations
During the year, the Group has finalized the fair value assessments for the net assets acquired (including intangible assets)
from the business combination activities in respect of Stoneware and CCE. The goodwill of Stoneware and CCE, amounting to
approximately US$163 million (March 31, 2013: US$150 million) has been allocated to the AG market segment. The movement
mainly represents additional indirect tax provisions recognized following the relevant tax reviews that were completed during the
year, and certain minor adjustments on working capital balances and non-current asset items (including intangible assets), net of
exchange adjustments.