Michelin couv courteGB

13.4. Change in the financial situation of defined benefit plans
(in € thousand)
Defined benefit pension plan Pensions Other benefit Aggregate
Other defined benefit plans plans
(including medical care)
Present value of obligations
Opening balance at January 1, 2004 5,013,019 2,022,475 7,035,494
Exchange rate variations (160,958) (96,567) (257,525)
Variation in scope of consolidation – – –
Current service cost 98,513 52,366 150,879
Interest cost 283,713 113,070 396,783
Plan reorganization cost recognized in the year 4,058 – 4,058
Benefits paid (238,906) (139,964) (378,870)
Other items 3,690 779 4,469
(-)Unrecognized actuarial gain/loss generated during the year 420,528 16,352 436,880
Unrecognized plan reorganization costs – – –
At December 31, 2004 A 5,423,657 1,968,511 7,392,168
Fair value of plan assets
Opening balance at January 1, 2004 3,761,919 41 3,761,960
Exchange rate variations (139,721) – (139,721)
Expected return on plan assets 274,663 – 274,663
Contributions 212,331 – 212,331
Administration costs (4,160) – (4,160)
Benefits paid (219,825) – (219,825)
Other items 41 (41) –
Unrecognized actuarial gain/(-)loss generated during the year 80,097 – 80,097
At December 31, 2004 B 3,965,345 – 3,965,345
Benefit plan unrecognized actuarial gain/loss of the year
Opening balance at January 1, 2004 1,114,794 355,808 1,470,602
Exchange rate variations (43,094) (28,692) (71,786)
Variation in scope of consolidation (34) 34 –
Amortization of unrecognized actuarial differences (48,232) (20,775) (69,007)
Amortization of unrecognized plan reorganization costs (67) 12,055 11,988
Unrecognized actuarial differences generated during the year 340,570 16,350 356,920
Unrecognized plan reorganization costs generated during the year (555) – (555)
At December 31, 2004 C 1,363,382 334,780 1,698,162
Net liability in balance sheet
At December 31, 2004 D=A-B-C 94,930 1,633,731 1,728,661