2007 Reference document (PDF) - Valeo

3 Consolidated
PAGE 114
fi nancial statements at December 31, 2007
Notes to consolidated financial statements
■ Movements in provisions
(In millions of euros)
2007 Reference document - VALEO
France Other
European
countries
North
America
Other
countries
Provisions at January 1, 2005 152 269 393 42 856
Actuarial gains and losses recognized through equity 7 40 15 (12) 50
Amounts used during the year (1) (19) (14) (49) (7) (89)
Impact of changes in scope of consolidation 5 1 2 7 15
Reclassification: pensions/reorganization expenses - - 13 - 13
Translation adjustments - 1 54 7 62
Expense/(income) for the year 24 20 (79) (2) 11 (24)
Provisions at December 31, 2005 169 317 349 48 883
Actuarial gains and losses recognized through equity 3 (4) (28) 2 (27)
Amounts used during the year (1) (22) (14) (18) (8) (62)
Impact of changes in scope of consolidation - (25) (1) (1) (27)
Reclassification: pensions/reorganization expenses - 1 (42) - (41)
Translation adjustments - 1 (32) (2) (33)
Expense/(income) for the year 27 22 (3) 9 55
Provisions at December 31, 2006 177 298 225 48 748
Actuarial gains and losses recognized through equity (3) (7) (42) (29) (1) (79)
Amounts used during the year (1) (25) (17) (29) (8) (79)
Impact of changes in scope of consolidation (7) (6) - - (13)
Translation adjustments - (2) (20) (4) (26)
Expense/(income) for the year 21 20 8 8 57
Provisions at December 31, 2007 159 251 155 43 608
Of which current portion (less than 1 year) 14 13 26 4 57
(1)
Including benefits paid directly to beneficiaries or contributions paid to external funds, depending on the plan concerned.
(2)
Income booked for 2005 results mainly from amendments to healthcare insurance plans.
(3)
Actuarial gains and losses recognized through equity for the year ended December 31, 2007 chiefly reflect the rise in discount rates (see above – Actuarial assumptions).
Actuarial gains and losses arising on experience adjustments amount to 11 million euros.
■ Movements in obligations
(In millions of euros)
France Other
European
countries
North
America
< Contents >
Other
countries
Obligations at January 1, 2007 208 343 429 94 1,074
Service cost 9 9 2 6 26
Interest cost 9 13 23 3 48
Benefits paid (24) (15) (18) (14) (71)
Actuarial gains and losses (7) (41) (28) (1) (77)
Plan amendments - - - - -
Impact of changes in scope of consolidation (7) (6) - - (13)
Other 2 (2) 1 - 1
Translation adjustments - (6) (43) (6) (55)
Obligations at December 31, 2007 190 295 366 82 933
Total
Total
1
2
3
4
5
6