Ryanair 2011 Annual Report Download - page 179

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177
Analysis of amounts included in the Consolidated Statements of Comprehensive Income (“CSOCI”);
Year ended
March 31,
2011
Year ended
March 31,
2010
Year ended
March 31,
2009
1M 1M 1M
Actual return less expected return on pension scheme assets
................................
(0.3) 5.6 (9.8)
Experience gains on scheme liabilities ................................
................................
1.0 0.5 0.9
Changes in assumptions underlying the present value of scheme
liabilities ................................................................................................
..................
5.0 (6.1) 0.3
Actuarial gains/(losses) recognised in the CSOCI ................................
.......................
5.7 - (8.6)
Related deferred tax (liability)/asset ................................
................................
(0.7) - 1.1
Net actuarial gains/(losses) recognised in the CSOCI ................................
..................
5.0 - (7.5)
Changes in the present value of the defined-benefit obligation of the plans are as follows:
At March 31,
2011 2010 2009
1M 1M 1M
Projected benefit obligation at beginning of year ................................
........................
35.9 28.1 27.0
Service cost ................................................................................................
..................
0.8
0.6 0.7
Interest cost ................................................................................................
..................
1.9
1.7 1.7
Plan participants’ contributions ................................................................
...................
0.3
0.3 0.4
Actuarial (gain)/loss ................................................................
................................
(6.0)
5.3 (0.5)
Benefits paid ................................................................................................
................
(0.2)
(0.4) (0.3)
Foreign exchange rate changes ................................................................
....................
0.1 0.3 (1.0)
Projected benefit obligation at end of year funded................................
.......................
32.8 35.9 28.0
Changes in fair values of the plans’ assets are as follows:
At March 31,
2011 2010 2009
1M 1M 1M
Fair value of plan assets at beginning of year ................................
.............................
25.6 17.9 25.0
Expected return on plan assets ................................................................
....................
1.8
1.2 1.9
Actual gains/(losses) on plan assets ................................
................................
(0.3)
5.4 (9.1)
Employer contribution ................................................................
................................
0.8
0.9 0.8
Plan participants’ contributions ................................................................
..................
0.3
0.3 0.3
Benefits paid ................................................................................................
...............
(0.2)
(0.4) (0.3)
Foreign exchange rate changes ................................................................
...................
(0.1) 0.3 (0.7)
Fair value of plan assets at end of year ................................
................................
27.9 25.6 17.9
The fair value of the plans’ assets at March 31 of each year is analysed as follows:
At March 31,
2011 2010 2009
1M 1M 1M
Equities ................................................................................................
........................
21.5 19.2 12.0
Bonds ................................................................................................
...........................
4.4 4.3 3.7
Property ................................................................................................
.......................
0.6 0.6 0.6
Other assets ................................................................................................
..................
1.4 1.5 1.6
Total fair value of plan assets ................................................................
......................
27.9 25.6 17.9
The plans’ assets do not include any of our own financial instruments, nor any property occupied by, or
other assets used by us.
The expected long-term rate of return on assets of 6.75% (2010: 6.67%; 2009: 6.40%) for the Irish
scheme was calculated based on the assumptions of the following returns for each asset class: Equities 7.50%