Telstra 2007 Annual Report Download - page 196

Telstra Corporation Limited and controlled entities
193
Notes to the Financial Statements (continued)
(a) Net defined benefit plan asset - historical summary
Our net defined benefit plan asset recognised in the balance sheet for
the current and previous periods is determined as follows:
(i) At 30 June the fair value of defined benefit plan assets exceeds the
present value of defined benefit obligations resulting in a net surplus.
We recognise the net surplus as an asset as we have the ability to
control this surplus to generate future funds that are available to us in
t he f orm of reduct ions in f ut ure cont ribut ions, or as a cash refund. The
asset recognised does not exceed the present value of any economic
benefits available in the form of refunds from t he plan or reductions in
future contributions to the plan.
28. Post employment benefits (continued)
Telst ra Group
As at 30 June
2007 2006 2005
$m $m $m
Fair value of defined benefit plan assets (d) . . . . . . . . . . . . . . . . . . . . . . . . . 4,342 4,553 4,518
Present value of the defined benefit obligation (e). . . . . . . . . . . . . . . . . . . . . 3,646 3,675 4,308
Net defined benefit asset before adjustment for contribut ions tax . . . . . . . . . . . 696 878 210
Adjustment for contributions tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 118 151 37
Net defined benefit asset in the balance sheet at 30 June (i) . . . . . . . . . . . . . 814 1,029 247
Experience adjustments:
Experience adjustments arising on defined benefit plan assets - gain . . . . . . . . . 261 480 155
Experience adjustments arising on defined benefit obligations - gain/(loss) . . . . . 69 (206) (44)
Telstra Entity
As at 30 June
2007 2006 2005
$m $m $m
Fair value of defined benefit plan assets (d) . . . . . . . . . . . . . . . . . . . . . . . . . 4,244 4,458 4,439
Present value of the defined benefit obligation (e). . . . . . . . . . . . . . . . . . . . . 3,578 3,605 4,234
Net defined benefit asset before adjustment for contribut ions tax . . . . . . . . . . . 666 853 205
Adjustment for contributions tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 118 151 37
Net defined benefit asset in the balance sheet at 30 June (i) . . . . . . . . . . . . . 784 1,004 242
Experience adjustments:
Experience adjustments arising on defined benefit plan assets - gain . . . . . . . . . 252 474 152
Experience adjustments arising on defined benefit obligations - gain/(loss) . . . . . 70 (206) (47)