Ryanair 2008 Annual Report Download - page 83

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83
The amount recognised in the consolidated income statement in respect of our defined benefit plans is
as follows:
Year ended
March 31,
2008
Year ended
March 31,
2007
1000 1000
Included in payroll costs
Service cost............................................................................................................... 1,303 1,722
Included in finance expense
Interest on pension scheme liabilities ....................................................................... 1,803 1,682
Expected return on plan assets.................................................................................. (2,059) (1,697)
Net finance expense.................................................................................................. (256) (15)
Net periodic pension cost.......................................................................................... 1,047 1,707
Analysis of amounts included in the Statements of Recognised Income and Expense (SORIE);
Year ended
March 31,
2008
Year ended
March 31,
2007
1000 1000
Actual return less expected return on pension scheme assets.................................... (6,602) 748
Experience gains on scheme liabilities ..................................................................... 1,633 1,586
Changes in assumptions underlying the present value of scheme liabilities ............. 10,109 (62)
Actuarial gains recognised in the SORIE.................................................................. 5,140 2,272
Related deferred tax asset/(liability) ......................................................................... (643) (284)
Net actuarial gains recognised in the SORIE ............................................................ 4,497 1,988
Changes in the present value of the defined benefit obligation of the plans are as follows:
At March 31,
2008 2007
1000 1000
Projected benefit obligation at beginning of year ..................................................... 35,596 33,367
Service cost............................................................................................................... 1,303 1,722
Interest cost............................................................................................................... 1,803 1,682
Plan participants’ contributions ................................................................................ 456 642
Actuarial (gain)......................................................................................................... (10,519)
(1,783)
Benefits paid ............................................................................................................. (427)
(294)
Foreign exchange rate changes ................................................................................. (1,223)
260
Projected benefit obligation at end of year-funded ................................................... 26,989 35,596