Annual Report 2011 - Hongkong Land

16 Pension Plans continued
The five year history of experience adjustments is as follows:
2011 2010 2009 2008 2007
US$m US$m US$m US$m US$m
Fair value of plan assets 30.3 33.8 31.4 25.1 38.2
Present value of pension obligations (23.9 ) (23.2 ) (21.4 ) (19.0 ) (20.9 )
Surplus 6.4 10.6 10.0 6.1 17.3
Experience adjustments on plan assets (4.3 ) 0.6 4.3 (14.5 ) 2.5
Percentage of plan assets (%) 14 2 14 58 7
Experience adjustments on pension obligations 0.1 0.1 1.2 – (0.1 )
Percentage of pension obligations (%) – – 6 – –
17 Properties for Sale
2011 2010
US$m
US$m
Properties under development
– land and development costs 1,459.8 1,114.8
– interest and other expenses capitalised 26.7 29.0
1,486.5 1,143.8
Provision for impairment (112.0 ) (156.7 )
1,374.5 987.1
Completed properties 146.7 197.3
1,521.2 1,184.4
At 31st December 2011, no properties for sale (2010: US$404.7 million) were pledged as security for borrowings
(2010: US$41.2 million) as shown in Note 21.
18 Debtors
2011 2010
US$m
US$m
Trade debtors 22.6 32.8
Other debtors
– third parties 278.0 178.3
– associates and joint ventures 84.9 85.5
385.5 296.6
Non-current 72.0 51.5
Current 313.5 245.1
385.5 296.6
Annual Report 2011 49