Annual Report 2010 - SBM Offshore

The historic overview of the deficit / (surplus) of the
pension plans can be displayed as follows:
in thousands of US$ 2010 2009 2008 2007 2006
Present value defined benefit obligation 72,267 70,336 57,195 62,626 50,156
Fair value of plan assets (67,137) (67,431) (48,173) (52,497) (42,648)
Deficit / (Surplus) 5,130 2,905 9,022 10,129 7,508
Changes in the present value of the pension plans
defined benefit obligation are as follows:
in thousands of US$ 2010 2009
Opening defined benefit obligation 70,336 57,195
Interest cost 2,368 1,961
Current service cost 2,141 1,879
Benefits paid (2,003) (1,822)
Actuarial (gains)/losses on obligation 4,293 -
Other movements (223) 9,550
Exchange differences on foreign plans (4,645) 1,573
Closing defined benefit obligation at 31 December 72,267 70,336
Changes in the fair value of plan assets of the pension
plans are as follows:
Financial Review / Financial Statements 2010
in thousands of US$ 2010 2009
Opening fair value of plan assets (67,431) (48,173)
Expected return (2,088) (2,183)
Contributions by employer (2,862) (1,837)
Benefits paid 2,003 1,822
Actuarial (gains)/losses (1,907) (5,983)
Other movements 733 (9,550)
Exchange differences on foreign plans 4,415 (1,527)
Closing fair value of plan assets at 31 December (67,137) (67,431)
SBM Offshore – Annual Report 2010 133