Unilever 2005 Annual Report Download - page 124
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Financial Statements
Unilever Annual Report and Accounts 2005 121
Notes to the consolidated accounts
Unilever Group
22 Pensions and similar obligations (continued)
Funded status
The funded status of the plans, reconciled to the amount reported in the statement of financial position is as follows:
€ million € million € million € million
Other post- Other post-
Pension Pension employment employment
plans plans benefit plans benefit plans
2005 2004 2005 2004
Fair value of plan assets 15 989 13 441 17 14
Benefit obligations (19 927) (17 512) (1 306) (1 175)
Funded status at 31 December (3 938) (4 071) (1 289) (1 161)
Unrecognised net transition liability/(asset) (46) (82) ––
Unrecognised net actuarial loss/(gain) 3 008 2 966 319 290
Unrecognised prior service cost 91 118 (59) (2)
Other (FAS 112 liabilities) n/a n/a ––
Net amount recognised at 31 December (885) (1 069) (1 029) (873)
Amount recognised in the statement of financial position consists of:
Prepaid benefit cost 1 603 1 333 3–
Accrued benefit liability (2 488) (2 402) (1 032) (873)
Additional minimum liability (2 442) (2 208) ––
Intangible asset 52 99 ––
Accumulated other comprehensive income 2 390 2 109 ––
Net amount recognised at 31 December (885) (1 069) (1 029) (873)
The projected benefit obligation (PBO), accumulated benefit obligation (ABO), and fair value of plan assets, in total and for plans where the
projected benefit obligation or accumulated benefit obligation is in excess of plan assets is as follows:
€ million € million € million € million € million € million
Plans where Plans where Plans where Plans where
Pension Pension PBO exceeds PBO exceeds ABO exceeds ABO exceeds
plans plans plan assets plan assets plan assets plan assets
2005 2004 2005 2004 2005 2004
As at 31 December
Projected benefit obligations 19 927 17 512 15 175 13 330 14 749 12 767
Accumulated benefit obligations 18 687 16 343 14 290 12 459 13 849 11 930
Fair value of plan assets 15 989 13 441 10 067 8 532 9 659 7 987
Net periodic cost
€ million € million € million € million
Other post- Other post-
Pension Pension employment employment
plans plans benefit plans benefit plans
Components of net periodic benefit cost 2005 2004 2005 2004
Service cost (gross) 339 324 28 24
Interest cost 915 909 68 64
Expected returns on plan assets (930) (917) (1) –
Employee contributions (19) (32) ––
Amortisation of prior service cost 30 33 (2) –
Amortisation of transition (asset) (35) (35) ––
Amortisation of actuarial loss/(gain) 162 163 17 12
Total before FAS 88 events 462 445 110 100
Adjustments for FAS 88 events 81 120 (3) 6
Net periodic benefit cost 543 565 107 106