Ryanair 2009 Annual Report Download - page 170

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170
The amounts recognised in the consolidated income statements in respect of our defined-benefit plans
are as follows:
Year ended
March 31,
2009
Year ended
March 31,
2008
Year ended
March 31,
2007
€000 €000 €000
Included in payroll costs
Service cost ................................................................................................
..
764 1,303 1,722
Included in finance expense
Interest on pension scheme liabilities ................................
...........................
1,749 1,803 1,682
Expected return on plan assets ................................................................
.....
(1,876) (2,059) (1,697)
Net finance expense ................................................................
.....................
(127) (256) (15)
Net periodic pension cost
................................
................................
...........
637 1,047 1,707
Analysis of amounts included in the Statements of Recognised Income and Expense (“SORIE”);
Year ended
March 31,
2009
Year ended
March 31,
2008
Year ended
March 31,
2007
€000 €000 €000
Actual return less expected return on pension scheme assets
.......................
(9,760) (6,602) 748
Experience gains on scheme liabilities ................................
.........................
925 1,633 1,586
Changes in assumptions underlying the present value of scheme
liabilities ................................................................................................
..
255 10,109 (62)
Actuarial (losses) / gains recognised in the SORIE ................................
......
(8,580) 5,140 2,272
Related deferred tax asset / (liability)................................
...........................
1,073 (643) (284)
Net actuarial (losses) / gains recognised in the SORIE
................................
(7,507) 4,497 1,988
Changes in the present value of the defined-benefit obligation of the plans are as follows:
At March 31,
2009 2008 2007
€000 €000 €000
Projected benefit obligation at beginning of year ................................
...........
26,989 35,596 33,367
Service cost ................................................................................................
....
764 1,303 1,722
Interest cost ................................................................................................
....
1,749 1,803 1,682
Plan participants’ contributions ................................................................
......
368 456 642
Actuarial (gain) ................................................................
..............................
(450) (10,519) (1,783)
Benefits paid ................................................................................................
..
(295) (427) (294)
Foreign exchange rate changes ................................................................
......
(1,036) (1,223) 260
Projected benefit obligation at end of year funded ................................
.........
28,089 26,989 35,596
Changes in fair values of the plans’ assets are as follows:
At March 31,
2009 2008 2007
€000 €000 €000
Fair value of plan assets at beginning of year ................................
................
24,969 28,616 24,690
Expected return on plan assets ................................................................
.......
1,876 2,059 1,697
Actual (losses) / gains on plan assets ................................
.............................
(9,031) (5,581) 575
Employer contribution ................................................................
...................
775 867 1,133
Plan participants’ contributions ................................................................
......
368 456 642
Benefits paid ................................................................................................
..
(295) (427) (294)
Foreign exchange rate changes ................................................................
......
(730) (1,021) 173
Fair value of plan assets at end of year ................................
..........................
17,932 24,969 28,616