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Unilever Annual Report and Accounts 2010 111
Financial statements
19 Pensions and similar obligations (continued)
Statement of comprehensive income
Amounts recognised in the statement of comprehensive income:
€ million € million € million € million € million € million
Cumulative
since
1 January
2010 2009 2008 2007 2006 2004
Actual return less expected return on pension and other benefit
plan assets 677 1,277 (4,243) (236) 533 (31)
Experience gains/(losses) arising on pension plan and other
benefit plan liabilities 197 250 – 103 51 581
Changes in assumptions underlying the present value of the
pension and other benefit plan liabilities
Actuarial gain/(loss)
(716) (1,489) 1,116 946 474 (2,422)
158 38 (3,127) 813 1,058 (1,872)
Change in unrecognised surplus – – – – 142 103
Refund of unrecognised assets
Net actuarial gain/(loss) recognised in statement of comprehensive
– – – – – 15
income (before tax) 158 38 (3,127) 813 1,200 (1,754)
Reconciliation of change in assets and liabilities
Movements in assets and liabilities during the year:
€ million € million € million € million € million € million
Assets Assets Assets Liabilities Liabilities Liabilities
2010 2009 2008 2010 2009 2008
1 January 14,413 11,719 17,253 (16,995) (15,101) (18,342)
Acquisitions/disposals 3 – – (4) – 2
Current service cost – – – (261) (228) (272)
Employee contributions 13 12 12 – – –
Special termination benefits – – – (22) (50) (54)
Past service costs – – – 60 50 24
Settlements/curtailments (162) (9) (12) 168 29 28
Expected returns on plan assets 983 776 1,131 – – –
Interest on pension liabilities – – – (963) (940) (988)
Actuarial gain/(loss) 677 1,277 (4,243) (519) (1,239) 1,117
Employer contributions 669 1,202 754 – – –
Benefit payments (1,146) (1,204) (1,367) 1,146 1,204 1,367
(b)
Reclassification of benefits 19 – (7) (28) – 7
Currency re-translation 505 640 (1,802) (626) (720) 2,010
31 December 15,974 14,413 11,719 (18,044) (16,995) (15,101)
(b) Certain obligations have been reclassified as employee benefit obligations.
The actual return on plan assets during 2010 was €1,660 million i.e. the sum of €983 million and €677 million from the table above (2009: €2,053 million).
Funded status of plans at the year end
€ million € million € million € million € million
Total assets
2010
15,974
2009
14,413
2008
11,719
2007
17,253
2006
17,278
Total pension liabilities
Net liabilities
(18,044)
(2,070)
(16,995)
(2,582)
(15,101)
(3,382)
(18,342)
(1,089)
(20,358)
(3,080)
Less unrecognised surplus
Pension liabilities net of assets
–
(2,070)
–
(2,582)
–
(3,382)
–
(1,089)
–
(3,080)
20 Comprehensive income
Tax effects of the components of other comprehensive income were as follows:
€ million € million € million € million € million € million
Tax Tax
Before (charged)/ After Before (charged)/ After
tax credit tax tax credit tax
2010 2010 2010 2009 2009 2009
Fair value gains/(losses) on financial instruments 41 2 43 163 (58) 105
Actuarial gains/(losses) on pension schemes 158 (53) 105 38 (20) 18
Currency redistribution gains/(losses) 460 – 460 396 – 396