Nokia 2007 Annual Report Download - page 172
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5. Pensions (Continued)
during the year and the funded status of the significant defined benefit pension plans showing the
amounts that are recognized in the Group’s consolidated balance sheet at December 31:
Domestic
Plans
Foreign
Plans
Domestic
Plans
Foreign
Plans
2007 2006
EURm EURm EURm EURm
Present value of defined benefit obligations at beginning of
year .............................................. (1 031) (546) (890) (495)
Foreign exchange ..................................... —27— (3)
Current service cost ................................... (59) (66) (63) (38)
Interest cost ......................................... (50) (54) (40) (26)
Plan participants’ contributions.......................... — (8) — (7)
Actuarial gain (loss) ................................... 115 126 (51) 14
Acquisitions ......................................... — (780) ——
Curtailment.......................................... 313—
Settlements ......................................... —15——
Benefits paid ........................................ 11 30 10 9
Present value of defined benefit obligations at end of year. . . . (1 011) (1 255) (1 031) (546)
Plan assets at fair value at beginning of year ............... 985 424 904 372
Foreign exchange ..................................... — (27) —3
Expected return on plan assets .......................... 49 46 41 21
Actuarial gain (loss) on plan assets ....................... (33) (2) (8) (3)
Employer contribution ................................. 73 90 59 32
Plan participants’ contributions.......................... —8—8
Benefits paid ........................................ (11) (30) (11) (9)
Settlements ......................................... — (3) ——
Acquisitions ......................................... — 605 ——
Plan assets at fair value at end of year .................... 1 063 1 111 985 424
Surplus/(Deficit) ...................................... 52 (144) (46) (122)
Unrecognized net actuarial (gains)/losses .................. 97 (41) 187 89
Prepaid/(Accrued) pension cost in balance sheet . . .......... 149 (185) 141 (33)
Present value of obligations include EUR 1 799 million (EUR 300 million in 2006) of wholly funded
obligations, EUR 333 million of partly funded obligations (EUR 1 244 million in 2006) and
EUR 134 million (EUR 33 million in 2006) of unfunded obligations.
The amounts recognized in the profit and loss account are as follows:
2007 2006 2005
EURm EURm EURm
Current service cost ................................................. 125 101 69
Interest cost ....................................................... 104 66 58
Expected return on plan assets ........................................ (95) (62) (64)
Net actuarial losses recognized in year .................................. 10 89
Past service cost gain () loss (+)....................................... —31
Transfer from central pool ............................................ —— (24)
Curtailment ....................................................... (1) (4) (3)
Settlement ........................................................ (12) ——
Total, included in personnel expenses .................................. 131 112 46
F29
Notes to the Consolidated Financial Statements (Continued)