Ryanair 2012 Annual Report Download - page 179
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179
Analysis of amounts included in the Consolidated Statements of Comprehensive Income (―CSOCI‖);
Year ended
March 31,
2012
Year ended
March 31,
2011
Year ended
March 31,
2010
€M
€M
€M
Actual return less expected return on pension scheme assets ................................
(0.8)
(0.3)
5.6
Experience (losses)/gains on scheme liabilities ...........................................................
(0.8)
1.0
0.5
Changes in assumptions underlying the present value of scheme
liabilities ..................................................................................................................
(5.5)
5.0
(6.1)
Actuarial (losses)/gains recognised in the CSOCI .......................................................
(7.1)
5.7
-
Related deferred tax (liability) .....................................................................................
0.8
(0.7)
-
Net actuarial (losses)/gains recognised in the CSOCI ..................................................
(6.3)
5.0
-
Changes in the present value of the defined-benefit obligation of the plans are as follows:
At March 31,
2012
2011
2010
€M
€M
€M
Projected benefit obligation at beginning of year ........................................................
32.9
35.9
28.1
Service cost ..................................................................................................................
0.6
0.8
0.6
Interest cost ..................................................................................................................
1.9
1.9
1.7
Plan participants‘ contributions ...................................................................................
0.3
0.3
0.3
Actuarial loss/(gain) ................................................................................................
6.2
(6.0)
5.3
Benefits paid ................................................................................................................
(0.2)
(0.2)
(0.4)
Foreign exchange rate changes ....................................................................................
0.5
0.1
0.3
Projected benefit obligation at end of year funded.......................................................
42.2
32.8
35.9
Changes in fair values of the plans‘ assets are as follows:
At March 31,
2012
2011
2010
€M
€M
€M
Fair value of plan assets at beginning of year .............................................................
27.9
25.6
17.9
Expected return on plan assets ....................................................................................
2.0
1.8
1.2
Actual (losses)/gains on plan assets ................................................................
(0.8)
(0.3)
5.4
Employer contribution ................................................................................................
0.7
0.8
0.9
Plan participants‘ contributions ..................................................................................
0.3
0.3
0.3
Benefits paid ...............................................................................................................
(0.2)
(0.2)
(0.4)
Foreign exchange rate changes ...................................................................................
0.4
(0.1)
0.3
Fair value of plan assets at end of year ................................................................
30.3
27.9
25.6
The fair value of the plans‘ assets at March 31 of each year is analysed as follows:
At March 31,
2012
2011
2010
€M
€M
€M
Equities ........................................................................................................................
22.5
21.5
19.2
Bonds ...........................................................................................................................
5.4
4.4
4.3
Property .......................................................................................................................
0.7
0.6
0.6
Other assets ..................................................................................................................
1.7
1.4
1.5
Total fair value of plan assets ......................................................................................
30.3
27.9
25.6
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 6.15% (2011: 6.75%; 2010: 6.67%) for the Irish
scheme was calculated based on the assumptions of the following returns for each asset class: Equities 7.50%