Annual Report 2012 - ORCO Germany
Annual Report 2012 - ORCO Germany
Annual Report 2012 - ORCO Germany
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(i) - The movement in the defined obligation over the year is as follows:<br />
31 December <strong>2012</strong> 31 December 2011 31 December 2010<br />
Beginning of the year 9,083 9,194 8,661<br />
Current service cost 0 0 18<br />
Interest cost 408 428 445<br />
Actuarial gains(losses) 1,739 (122) 472<br />
Benefits paid (420) (416) (402)<br />
End of the year 10,810 9,084 9,194<br />
(ii) - The principal actuarial assumptions used were as follows:<br />
31 December <strong>2012</strong> 31 December 2011 31 December 2010<br />
Discount rate 3.17% 4.60% 4.75%<br />
Future salary increases n.a n.a 2.75%<br />
Future pension increases 2.00% 2.00% 2.00%<br />
Corridor n.a 10.00% 10.00%<br />
(iii) - Transition to IAS 19 – 2011 amendment “Employees Benefits”<br />
Application of IAS 19, rev.2011 is compulsory for periods beginning at or after 1 st January 2013.<br />
Disclosures for periods 2011 and <strong>2012</strong> must be reported according to current IAS 19.<br />
The calculation of pension expense must follow IAS 19, rev.2011 for the first time in 2013.<br />
For the purpose of financial reporting as of 31 December 2013 the financial statement for the prior period must be restated on<br />
revised rules.<br />
The impact of the changes amounts to EUR 1.739 KEUR.<br />
In Euro<br />
D e fin e d b e n e fit a s s e t/(lia b ility ) IA S 1 9 (p re -a m e n d m e n t) a s a t 3 1 D e c e m b e r 2 0 1 1 (9 ,2 0 5 )<br />
U n re co g n ise d p a s t s e rvice co s t a s a t 3 1 D e ce m b e r 2 0 1 1 -<br />
U n re co g n ise d n e t a c tu a ria l g a in /(lo s s e s ) a s a t 3 1 D e c e m b e r 2 0 1 1 1 2 3<br />
N e t d e fin e d b e n e fit a s s e t/(lia b ility ) IA S 1 9 re v is e d 2 0 1 1 a s a t 0 1 J a n u a r y 2 0 1 2 (9 ,0 8 3 )<br />
S e rvice co s t -<br />
N e t in te re s t o n n e t d e fin e d b e n e fit lia b ility/(a ss e t) ( 4 0 8 )<br />
R e m e a s u r e m e n t e ffe cts re c o g n ise d in O C I (1 ,7 3 9 )<br />
E m p lo yer c o n trib u tio n s -<br />
B e n e fits p a id d ir e c tly b y th e C o m p a n y 4 1 9<br />
T ra n sfe r p a ym e n ts -<br />
A c q u is itio n s -<br />
D ive stitu re s -<br />
C o s t o f te rm in a tio n b e n e fits -<br />
N e t d e fin e d b e n e fit a s s e t/(lia b ility ) IA S 1 9 re v is e d 2 0 1 1 a s a t 3 1 D e c e m b e r 2 0 1 2 (1 0 ,8 1 0 )<br />
T o ta l<br />
D e fin e d b e n e fit a s s e t/(lia b ility ) IA S 1 9 (p re -a m e n d m e n t) a s a t 3 1 D e c e m b e r 2 0 1 1 (9 ,2 0 5 )<br />
U n re co g n ise d p a s t s e rvice co s t a s a t 3 1 D e ce m b e r 2 0 1 1 -<br />
U n re co g n ise d n e t a c tu a ria l g a in /(lo s s e s ) a s a t 3 1 D e c e m b e r 2 0 1 1 1 2 3<br />
N e t d e fin e d b e n e fit a s s e t/(lia b ility ) IA S 1 9 re v 2 0 1 1 a s a t 0 1 J a n u a ry 2 0 1 2 (9 ,0 8 3 )<br />
S e rvice co s t -<br />
N e t in te re s t o n n e t d e fin e d b e n e fit lia b ility/(a ss e t) ( 4 0 8 )<br />
R e m e a s u r e m e n t e ffe cts re c o g n ise d in O C I (1 ,7 3 9 )<br />
E m p lo yer c o n trib u tio n s -<br />
B e n e fits p a id d ir e c tly b y th e C o m p a n y 4 1 9<br />
T ra n sfe r p a ym e n ts -<br />
A c q u is itio n s -<br />
D ive stitu re s -<br />
C o s t o f te rm in a tio n b e n e fits -<br />
N e t d e fin e d b e n e fit a s s e t/(lia b ility ) IA S 1 9 re v 2 0 1 1 a s a t 3 1 D e c e m b e r 2 0 1 2 (1 0 ,8 1 0 )<br />
ANNUAL CONSOLIDATED FINANCIAL STATEMENTS | 39
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