Mercedes 2012 Annual Report Download - page 225

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Present value of defined pension benefit obligations and
fair value of plan assets. The development of these metrics
in the reported periods is shown in table  7.5 4 .
Experience adjustments. The experience related adjust-
ments, which are the differences between the earlier actuarial
assumptions applied and actual developments, are as shown
in table  7.55 (based on the pension benefit plans and plan
assets at December 31).
Composition of plan assets. At December 31, 2012, plan
assets were invested in diversified portfolios that consisted
primarily of debt and equity securities. Plan assets and income
from plan assets are used solely to pay pension benefits and
to administer the plans. The Group’s plan asset allocations are
presented in table  7.56.
Alternative investments consist of private equity and debt
investments as well as investments in commodities and hedge
funds.
Present value of defined pension benefit obligations and fair value of plan assets
2012 2011
Total
German
plans
Non-German
plans Total
German
plans
Non-German
plans
In millions of euros
Present value of the defined benefit obligation
at January 1
19,067 16,053 3,014
17,684 15,040 2,644
Current service cost 404 320 84 354 282 72
Interest cost 864 734 130 849 730 119
Contributions by plan participants 116 114 2 103 100 3
Actuarial losses 4,380 4,144 236 744 564 180
Past service cost/income (-) 1 – 1 3 – 3
Curtailments 2 – 2 3 – 3
Settlements – – – -40 – -40
Pension benefits paid -822 -680 -142 -761 -666 -95
Currency exchange-rate and other changes -79 8 -87 128 3 125
Present value of the defined benefit obligation
at December 31
23,933 20,693 3,240
19,067 16,053 3,014
Thereof pension plans financed with plan assets 23,171 20,072 3,099 17,741 14,851 2,890
Thereof pension plans financed without plan assets 762 621 141 1,326 1,202 124
Fair value of plan assets at January 1 12,597 10,726 1,871 11,177 9,542 1,635
Expected return on plan assets 589 470 119 653 546 107
Actuarial gains/losses 719 644 75 -611 -626 15
Actual return/losses on plan assets 1,308 1,114 194 42 -80 122
Contributions by the employer 1,067 911 156 2,041 1,858 183
Contributions by plan participants 3 – 3 2 – 2
Settlements – – – -40 – -40
Benefits paid -736 -608 -128 -672 -594 -78
Currency exchange-rate and other changes -32 – -32 47 – 47
Fair value of plan assets at December 31 14,207 12,143 2,064 12,597 10,726 1,871
7. 5 4