Nokia 2004 Annual Report Download - page 190
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Notes to the Consolidated Financial Statements (Continued)
37. Differences between International Financial Reporting Standards and U.S. Generally
Accepted Accounting Principles (Continued)
The following table sets forth the changes in the benefit obligation and fair value of plan assets
during the year and the funded status of the significant defined benefit pension plans showing the
amounts that would be recognized in the Group’s consolidated balance sheet in accordance with
U.S. GAAP at December 31: 2004 2003
Domestic Foreign Domestic Foreign
plans plans plans plans
EURm EURm
Projected benefit obligation at beginning
of year ......................... (666) (343) (539) (261)
Remeasurement .................... ——— (52)
Foreign exchange ................... —(4)—6
Service cost ....................... (43) (20) (37) (17)
Interest on projected benefit obligation . (37) (20) (31) (14)
Plan participants’ contributions ........ —(6)— (3)
Past service cost gain (-) loss (+) ....... (3) — ——
Actuarial gain (loss) ................. 13 (14) (76) (9)
Curtailment ....................... ——10 —
Benefits paid ...................... 9977
Projected benefit obligation at end of
year ............................ (727) (398) (666) (343)
Plan assets at fair value at beginning of
year ............................ 683 204 636 126
Remeasurement .................... ———52
Foreign exchange ................... —4— (3)
Actual return on plan assets .......... 69 15 27 13
Employer contribution ............... 25 83 27 20
Plan participants’ contributions ........ —6—3
Benefits paid ...................... (9) (9) (7) (7)
Plan assets at fair value at end of year . . 768 303 683 204
Excess (deficit) of plan assets over
projected benefit obligation ......... 41 (95) 17 (139)
Unrecognized transition obligation ..... 1122
Unrecognized net (gain)/loss from
experience differences ............. 53 43 95 21
Unamortized prior service cost ........ 33 — 32 —
Net amount recognized .............. 128 (51) 146 (116)
Amounts recognized in the statement of
financial positions consist of:
Prepaid benefit cost ................. 132 60 146 1
Accrued benefit liability .............. (9) (112) — (117)
Intangible asset .................... 51——
Accumulated other comprehensive
income ......................... ————
Net amount recognized .............. 128 (51) 146 (116)
F-65