Mercedes 2012 Annual Report Download - page 226
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235
7 | Consolidated Financial Statements | Notes to the Consolidated Financial Statements
Assumptions. The measurement date for the Group’s defined
benefit pension obligations and plan assets is generally
December 31. The measurement date for the Group’s net
periodic pension cost is generally January 1. The assumptions
used to calculate the projected benefit obligations together
with the expectations regarding long-term rates of return
on plan assets vary according to the economic conditions
of the country in which the pension plans are situated.
Table 7.57 shows the weighted average assumptions which
the Group used to determine pension benefit obligations.
Experience adjustments
At December 31,
2012 2011 2010 2009 2008
In millions of euros
Present value of defined benefit obligation 165 140 550 -43 -194
Fair value of plan assets 719 -611 226 -32 -3,970
7. 5 5
Composition of plan assets
Plan assets
German plans
Plan assets
Non-German plans
At December 31, At December 31,
2012 2011 2012 2011
In % of plan assets
Equity securities 29 30 37 31
Debt securities 51 51 51 53
Alternative investments 8944
Real estate 3333
Liquidity and other plan assets 9759
7. 5 6
Assumptions used to determine pension benefit obligations
German plans Non-German plans
At December 31, At December 31,
2012 2011 2012 2011
In %
Discount rates 3.1 4.7 3.8 4.3
Expected long-term remuneration increases1––3.0 3.6
Expected increase in cost of living21.8 1.7 ––
1 For most German plans, expected increases in long-term remuneration are not a part of the benefit formula.
2 For most non-German plans, expected increases in cost of living are not a part of the benefit formula.
7. 57