Panalpina Annual Report 2006

The movement in the defined benefit obligation over the year is as follows:
Consolidated and Annual Financial Statements 2006
in thousand CHF 2006 2005
Changes in defined benefit obligation (DBO)
DBO beginning of year (242,137) (242,836)
Current service cost (13,507) (14,432)
Recogized past service cost 2,729
Interest cost (8,582) (9,068)
Actuarial gains (losses) recognized in equity (14,210) 9,832
Benefit paid 17,746 11,990
Liabilities extinguished on settlement (1,412) 0
Currency impact (1,049) (352)
DBO end of year (263,151) (242,137)
The movement in the fair value of plan assets of the year is as follows:
in thousand CHF 2006 2005
Changes in fair value of plan asset
Fair value beginning of year 261,744 237,033
Employer contributions 6,068 7,720
Member contributions 5,180 5,568
Expected return on assets 11,764 10,660
Actuarial gains (losses) recognized in equity (514) 11,993
Benefit paid (17,729) (11,323)
Currency impact (64) 93
Fair value end of year of plan asset 266,449 261,744
The actual return on plan assets was CHF 22.7 million (2005: CHF 10.9 million).
An analysis of the amounts recognized in equity is shown in the table below:
in thousand CHF 2006 2005
Analysis of amounts recognized in equity
Recognized equity on 1 January 79,160 76,201
Actuarial gains (losses) plan assets 514 (11,993)
Actuarial gains (losses) DBO 14,210 (9,832)
Effect of impact of limit in paragraph 58b (2,527) 24,709
Currency impact 2,146 75
Recognized equity on 31 December 93,503 79,160
Plan assets are comprised as follows:
in thousand CHF 2006 2005
Major Categories of plan assets
Cash and cash equivalents 10,823 10,932
Equity Investments 81,509 77,247
Bonds 143,111 142,550
Investment funds 24,448 24,218
Insurance contracts 6,558 6,797
Panalpina Annual Report 2006 101