Ricoh 2002 Annual Report Download - page 46

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43
Change in benefit obligation:
Benefit obligation at beginning of year
Service cost
Interest cost
Plan participants’ contributions
Actuarial loss ( gain)
Acquisition
Settlem ent
Benefits paid
Foreign exchange impact
Benefit obligation at end of year
Change in plan assets:
Fair value of plan assets at beginning of year
Actual return on plan assets
Acquisition
Employer contribution
Plan participants’ contributions
Settlem ent
Benefits paid
Foreign exchange impact
Fair value of plan assets at end of year
Funded status
Unrecognized net actuarial loss
Unrecognized net asset at transition, net of am ortization
Net am ount recognized
Am ounts recognized in the balance sheets consist of:
Prepaid benefit cost
Accrued benefit liability
Accum ulated other com prehensive income, gross of tax
Net am ount recognized
Thousands of
U.S. dollars
2 0 0 2
Millions of yen
2 0 0 2
¥ 4 2 4 ,1 7 6
1 5 ,6 3 6
1 3 ,6 9 3
1 ,5 8 5
8 ,3 0 9
—
( 3 ,0 0 5 )
( 1 2 ,5 5 8 )
4 ,7 2 6
¥ 4 5 2 ,5 6 2
¥ 2 7 4 ,3 2 3
( 1 1 ,7 1 5 )
—
1 2 ,6 8 0
1 ,5 8 5
( 2 ,8 5 8 )
( 9 ,7 6 7 )
4 ,1 2 9
¥ 2 6 8 ,3 7 7
¥ ( 1 8 4 ,1 8 5 )
143,448
( 2 ,9 5 3 )
¥ ( 4 3 ,6 9 0 )
¥ 1 ,2 6 2
( 1 1 3 ,6 8 5 )
6 8 ,7 3 3
¥ ( 4 3 ,6 9 0 )
2001
¥ 368,026
15,449
11,706
1,513
18,024
16,712
—
( 10,586)
3,332
¥ 424,176
¥ 285,830
( 31,986)
12,402
11,879
1,513
—
( 7,959)
2,644
¥ 274,323
¥ ( 149,853)
113,056
( 3,492)
¥ ( 40,289)
¥ 1,575
( 82,706)
40,842
¥ ( 40,289)
$ 3 ,1 8 9 ,2 9 3
1 1 7 ,5 6 4
1 0 2 ,9 5 5
1 1 ,9 1 7
6 2 ,4 7 4
—
( 2 2 ,5 9 4 )
( 9 4 ,4 2 1 )
3 5 ,5 3 4
$ 3 ,4 0 2 ,7 2 2
$ 2 ,0 6 2 ,5 7 9
( 8 8 ,0 8 3 )
—
9 5 ,3 3 8
1 1 ,9 1 7
( 2 1 ,4 8 8 )
( 7 3 ,4 3 6 )
3 1 ,0 4 5
$ 2 ,0 1 7 ,8 7 2
$ ( 1 ,3 8 4 ,8 5 0 )
1 ,0 7 8 ,5 5 7
( 2 2 ,2 0 3 )
$ ( 32 8 ,4 9 6 )
$ 9 ,4 8 9
( 8 5 4 ,7 7 4 )
5 1 6 ,7 8 9
$ ( 32 8 ,4 9 6 )
Discount rate
Rate of increase in com pensation levels
Expected long-term rate of return on plan assets
2 0 0 2
2001
3.0% – 7.75%
3.7% – 5.5%
4.5% – 9.0%
2 .8 %– 7 .2 5 %
2 .5 %– 4 .7 5 %
1 .5 %– 9 .5 %
1 1 . PENSION AND RETIREMENT ALLOWANCES PLANS
The Company and certain of its subsidiaries have various trusted contributory
and noncontributory em ployees pension fund ( “EPF”) plans covering substan-
tially all of their em ployees. Under the plans, em ployees are entitled to lump-sum
payments at the time of term ination or retirement, or to pension payments. Under
the term s of the dom estic EPF plan, the Governm ent welfare pension insurance
benefit is substituted and comm ingled with the prim ary benefit provided by the
plan.
The am ounts of lum p-sum or pension payments under the plans are
generally determined on the basis of length of service and rem uneration at the
time of term ination.
It is Ricoh’s policy to fund am ounts required to m aintain sufficient plan as-
sets to provide for accrued benefits based on a certain percentage of wage and
salary costs. The plan assets consist principally of interest-bearing bonds and list-
ed equity securities.
The changes in the benefit obligation and plan assets of the defined benefit
plans for the years ended March 31, 2001 and 2002 are as follows: