Vtech 2001 Annual Report Download - page 56

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18. PENSION SCHEMES (Continued)
For the defined benefit scheme, the amounts recognized in the balance sheet are as follows:
2001 2000
Note US$ million US$ million
Fair value of Scheme assets 12.3 15.6
Present value of the defined benefit obligation (12.4) (13.0)
Unrecognized actuarial gains/(losses) 2.2 (1.2)
Assets recognized in the balance sheet 15 2.1 1.4
The amounts recognized in the income statement are as
follows:
Current service cost 1.9 2.0
Interest cost 1.0 1.0
Expected return on plan assets (1.5) (1.1)
Net actuarial losses recognized in the year Ð 0.1
Expenses recognized in the income statement* 21.42.0
Theactualreturnonplanassetswasasfollows:
Expected return on plan assets 1.5 1.1
Actuarial (losses)/gains on plan assets (4.4) 2.0
Actual return on plan assets (2.9) 3.1
Movement in the assets recognized in the balance sheet:
At beginning of year 1.4 1.4
Totalexpensesasabove* (1.4) (2.0)
Contributions paid 2.1 2.0
At end of year 2.1 1.4
The principal actuarial assumptions used for accounting
purposes were:
Discount rate 7.0% 8.0%
Expected return on plan assets 8.0% 9.0%
Future salary increases 6.0% 8.0%
19. PROVISIONS FOR LIABILITIES AND CHARGES
Warranties Returns
Restructuring
costs
Employee
compensated
leave
entitlements Total
US$ million US$ million US$ million US$ million US$ million
At 1st April 2000 23.1 14.0 Ð 0.8 37.9
Additional provision 36.6 7.4 50.9 (0.8) 94.1
Unused amount reversed Ð (1.3) Ð 0.8 (0.5)
Charged to income statement 36.6 6.1 50.9 Ð 93.6
Utilized during the year (39.2) (5.4) (20.6) Ð (65.2)
At 31st March 2001 20.5 14.7 30.3 0.8 66.3
54
Notes to the Financial Statements