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FINANCIAL INFORMATION – FINANCIAL STATEMENTS
Note 34, cont.
Cost reported in the income statement
2015 Group
MSEK Sweden USA Switzerland Total
Current service costs 230 16 10 256
Past service costs - - -3 -3
Net interest expense 66 -3 - 63
Cost of defined-benefit plans in
the i ncome statement 296 13 7 316
Cost of defined-contribution plans 653
Special employer’s contribution 250
Total cost of post-employment
benefits 1,219
2014 Group
MSEK Sweden USA Switzerland Total
Current service costs 173 13 6 192
Net interest expense 60 -3 - 57
Cost of defined-benefit plans in
the i ncome statement 233 10 6 249
Cost of defined-contribution plans 565
Special employer’s contribution 197
Total cost of post-employment
benefits 1,011
Items included in the statement of cash flow
2015 Group
MSEK Sweden USA Switzerland Total
Deposits to pension fund and
other funding -6 -14 -8 -28
Payments -248 -40 -3 -291
Withdrawals - 40 3 43
Total impact on cash flow -254 -14 -8 -276
2014 Group
MSEK Sweden USA Switzerland Total
Deposits to pension fund and
other funding -199 -21 -7 -227
Payments -236 -13 - -249
Withdrawals 194 13 - 207
Total impact on cash flow -241 -21 -7 -269
Estimated payments during 2016 amount to approximately MSEK 270.
Actuarial gains and losses are reported in other comprehensive income.
Actuarial gains related to pensions amounted to MSEK 672 in 2015 primarily due
to the following. The return on assets under management was higher than expec-
ted due to experience adjustments, which produced an actuarial gain of MSEK 79.
The actuarial gain on pension obligations amounted to MSEK 593 due to 75 basis
points higher discount rate, experience adjustments, and 25 basis points higher
inflation assumptions. Changes in demographic assumptions have not had a signi-
ficant effect.
The actuarial gain related to special employer’s contribution amounted to
MSEK167 in 2015. The actuarial gain related to other long-term service awards
amounted to MSEK 1.
Changes in net obligation for defined-benefit plans reported in the
statement of financial position
Group
MSEK 2015 2014
Net obligation for defined-benefit plans, 1 January 2,528 1,389
Compensation paid -291 -249
Deposits to pension fund and other funding -28 -227
Cost reported in the income statement 316 249
Income (-) /cost (+) reported in
comprehensive income -672 983
Settlement/translation differences -3 -6
Withdrawals from pension funds 43 207
Transferred operations - 182
Net obligation for defined-benefit plans,
31 December 1,893 2,528
Change in pension obligation
Group
MSEK 2015 2014
Fair value, 1 January 8,153 6,413
Benefits vested during the year 256 192
Benefits vested previous years -3 -
Interest expense 207 257
Pension disbursements -291 -249
Settlement -16 -9
Transferred operations - 182
Actuarial gain (-)/loss (+) -593 1,307
Translation differences 29 60
Fair value, 31 December 7,742 8,153
Change in assets under management
Group
MSEK 2015 2014
Fair value, 1 January 5,625 5,024
Financial income 146 202
Withdrawals -43 -207
Settlement -18 -11
Contributions 28 227
Actuarial gain 79 324
Translation differences 32 66
Fair value, 31 December 5,849 5,625
The cost is reported on the following lines in the income statement
Group
MSEK 2015 2014
Cost of goods sold 896 755
Marketing expenses 104 82
Administrative expenses 63 66
Research and development costs 92 51
Financial expenses 64 57
Total cost of post-employment compensation 1,219 1,011
Interest expense on the pension obligation less financial income on assets under
management is classified as financial expense. Other pension costs are divided by
function in the income statement in relation to how payroll expenses are charged to
the various functions.
SAAB ANNUAL REPORT 2015– 99