2007 Reference document (PDF) - Valeo

Consolidated fi nancial statements at December 31, 2007
Notes to consolidated financial statements
Contributions of 25 million euros were paid to external funds in 2007. Contributions in 2008 are estimated at 18 million euros. The effective
return on plan assets amounted to 23 million euros in 2007, versus 20 million euros in 2006 and 26 million euros in 2005.
The effects of a one-point change in the rate of increase in medical costs in the United States are as follows:
(In millions of euros)
2007 2006 2005
Increase Decrease Increase Decrease Increase Decrease
Effect on service cost and interest cost - - - - 2 (2)
Effect on obligations 1 (1) 2 (2) 3 (3)
■ Actuarial gains and losses recognized through equity
Since opting to publish a statement of recognized income and
expense (SORIE) as permitted under IAS 19 (see note 1.1), actuarial
differences recognized in equity before deferred taxes represent:
■
actuarial losses of 42 million euros for the year ended
December 31, 2004;
4.9.3. Other provisions
At December 31
■
■
■
actuarial losses of 50 million euros for the year ended
December 31, 2005;
actuarial gains of 27 million euros for the year ended
December 31, 2006;
actuarial gains of 79 million euros for the year ended
December 31, 2007.
(In millions of euros) 2007 2006 2005
Provisions for product warranties 164 180 226
Other (1) 204 251 264
Other provisions 368 431 490
(1) Other provisions mainly concern contractual, labor, environmental or tax risks and litigation.
4.10. Debt
4.10.1. Gross debt
At December 31
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(In millions of euros) 2007 2006 2005
Long-term debt (note 4.10.2) 1,283 1,274 1,303
Current maturities of long-term debt (note 4.10.2) 29 54 581
Short-term debt (note 4.10.3) 260 274 157
Gross debt 1,572 1,602 2,041
2007 Reference document - VALEO
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