Michelin couv courteGB
Michelin couv courteGB
Michelin couv courteGB
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13.4.1. Regional breakdown of the financial<br />
situation of other defined benefit plans<br />
Present value of obligations<br />
Strategy • Fundamentals • Businesses • Résultats Earnings<br />
Notes to the Consolidated Financial Statements<br />
(in € thousand)<br />
Other defined benefit plans (including medical care)<br />
North Europe Other Aggregate<br />
America zones<br />
Opening balance at January 1, 2004 2,484,878 2,501,654 26,487 5,013,019<br />
Exchange rate variations (158,087) (2,951) 80 (160,958)<br />
Change in scope of consolidation – – – –<br />
Current service cost 52,799 45,061 653 98,513<br />
Interest cost 146,850 135,908 955 283,713<br />
Plan reorganization cost recognized in the year 1,681 1,958 419 4,058<br />
Benefits paid (131,530) (107,304) (72) (238,906)<br />
Other items<br />
(-) Unrecognized actuarial gain/loss generated<br />
3,758 (914) 846 3,690<br />
during the year 90,808 329,220 500 420,528<br />
Unrecognized plan reorganization costs – – – –<br />
At December 31, 2004 A 2,491,157 2,902,632 29,868 5,423,657<br />
Fair value of plan assets<br />
Opening balances at January 1, 2004 2,224,952 1,530,322 6,645 3,761,919<br />
Exchange rate variations (137,443) (2,330) 52 (139,721)<br />
Expected return on plan assets 173,297 100,753 613 274,663<br />
Contributions 144,336 67,995 – 212,331<br />
Administration costs – (4,160) – (4,160)<br />
Benefits paid (131,486) (88,267) (72) (219,825)<br />
Other items<br />
Unrecognized actuarial gain/(-)loss generated<br />
– 41 – 41<br />
during the year 34,160 45,567 370 80,097<br />
At December 31, 2004 B 2,307,816 1,649,921 7,608 3,965,345<br />
Unrecognized actuarial gains/losses<br />
Opening balance at January 1, 2004 627,529 487,844 (579) 1,114,794<br />
Exchange rate variations (42,257) (833) (4) (43,094)<br />
Variation in scope of consolidation – – 34 – (34)<br />
Amortization of unrecognized actuarial differences (26,461) (21,771) – (48,232)<br />
Amortization of unrecognized plan reorganization costs<br />
Unrecognized actuarial differences generated<br />
(67) – – (67)<br />
during the year<br />
Unrecognized plan reorganization costs generated<br />
56,784 283,656 130 340,570<br />
during the year (554) – 1 – (555)<br />
At December 31, 2004 C 614,974 748,861 (453) 1,363,382<br />
Net liability in balance sheet<br />
At December 31, 2004 D=A-B-C (431,633) 503,850 22,713 94,930<br />
86•87
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