ANNUAL REPORT 2009 - GAM Holding AG

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20 PENSION PLANS AND OTHER EMPLOYEE BENEFITS Actuarial calculation of pension obligations with respect to employees 1 1. Development of pension obligations and assets 2009 2008 CHF 1000 CHF 1000 Present value of funded obligation at the beginning of the year -1 573 907 -1 581 396 Service cost -64 154 -83 193 Past service cost - -10 Interest cost -45 986 -56 347 Settlements -1 389 -1 595 Benefits paid 68 263 28 047 Actuarial gain/(loss) 24 364 37 468 Disposal of subsidiaries 1 291 078 - Translation differences 36 994 83 119 Present value of funded obligation at the end of the year -264 737 -1 573 907 Fair value of plan assets at the beginning of the year 1 406 927 1 644 267 Expected return on plan assets 52 627 78 713 Employer’s contributions 82 392 67 570 Employees’ contributions 20 395 25 506 Settlements -75 -583 Benefits paid -68 263 -28 047 Actuarial gain/(loss) 46 395 -298 322 Disposal of subsidiaries -1 270 644 - Translation differences -32 029 -82 177 Fair value of plan assets at the end of the year 237 725 1 406 927 2. Balance sheet 31.12.2009 31.12.2008 CHF 1000 CHF 1000 Fair value of plan assets 237 725 1 406 927 Present value of funded obligation -264 737 -1 573 907 (Unfunded)/funded status -27 012 -166 980 Unrecognised assets -2 803 - Unrecognised actuarial (gains)/losses 21 154 186 561 Translation differences 5 267 4 716 (Accrued)/prepaid pension cost -3 394 24 297 Deferred taxes 906 -6 527 Amounts recognised in the balance sheet (included in other assets/other liabilities) -2 488 17 770 1 Benefit obligations and pension costs appear with a negative sign. The pension plan assets are invested in accordance with local laws and include no shares of GAM Holding Ltd. GAM Holding Ltd. Annual Report 2009 83 GROUP FINANCIAL REPORT
3. Income statement 2009 2008 CHF 1000 CHF 1000 represented Service cost -64 154 -83 193 Interest cost -45 986 -56 347 Expected net return on plan assets 52 627 78 713 Amortisation of actuarial gain/(loss) -504 2 268 Past service cost - -10 Recognised actuarial gains/(losses) 1 295 -60 340 Increase/(decrease) of unrecognised plan assets -2 803 37 204 Settlements -2 708 -2 644 Net periodic pension cost -62 233 -84 349 Employees’ contributions 20 395 25 506 Discontinued operations 32 127 49 483 Expense recognised in the income statement -9 711 -9 360 4. Movement in the net asset/(liability) 2009 2008 CHF 1000 CHF 1000 Prepaid pension cost at the beginning of the year 24 297 9 806 Disposal of subsidiaries -67 368 - Translation differences -877 5 764 Expense recognised in the income statement -9 711 -9 360 Discontinued operations -32 127 -49 483 Employer’s contributions 82 392 67 570 Prepaid pension cost 40 554 8 727 Amounts recognised in the balance sheet -3 394 24 297 Prepaid pension cost 734 36 730 Accrued pension liability -4 128 -12 433 (Accrued)/prepaid pension cost -3 394 24 297 Actual return on plan assets 99 022 -219 608 84 GAM Holding Ltd. Annual Report 2009
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ANNUAL REPORT 2009
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2 GAM Holding Ltd. Annual Report 20
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As we emerge from the financial cri
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1. GROUP STRUCTURE AND SHAREHOLDERS
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2. CAPITAL STRUCTURE 2.1 CAPITAL As
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3. BOARD OF DIRECTORS All the membe
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Attendance of the members of the Bo
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Committee oversees the compensation
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4. SENIOR MANAGEMENT 4.1 MEMBERS OF
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from the Group Head of Human Resour
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5.4 COMPENSATION OF THE BOARD OF DI
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6. SHAREHOLDERS’ PARTICIPATION RI
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9. INFORMATION POLICY GAM Holding L
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CONSOLIDATED STATEMENT OF COMPREHEN
Page 33 and 34: CONSOLIDATED STATEMENT OF CHANGES I
Page 35 and 36: CONSOLIDATED STATEMENT OF CASH FLOW
Page 37 and 38: SUMMARY OF SIGNIFICANT ACCOUNTING P
Page 39 and 40: The recoverable amount equals the p
Page 41 and 42: financial liability, any gain or lo
Page 43 and 44: Debt issued Issued bonds are initia
Page 45 and 46: CHANGES IN ACCOUNTING POLICIES The
Page 47 and 48: Classification of Rights Issues (am
Page 49 and 50: COMMENT ON RISK AND CAPITAL MANAGEM
Page 51 and 52: The following tables show the credi
Page 53 and 54: The following table shows the Group
Page 55 and 56: VaR method and regulatory capital I
Page 57 and 58: Capital risk management In managing
Page 59 and 60: NOTES TO THE CONSOLIDATED INCOME ST
Page 61 and 62: 6 INCOME TAXES 2009 2008 CHANGE CHF
Page 63 and 64: 7 REPORTING BY SEGMENT TOTAL CONSOL
Page 65 and 66: 8 EARNINGS PER REGISTERED SHARE AND
Page 67 and 68: 9C ALLOWANCE FOR CREDIT LOSSES 2009
Page 69 and 70: 11 OTHER FINANCIAL INVESTMENTS AND
Page 71 and 72: 11C OTHER FINANCIAL LIABILITIES Tra
Page 73 and 74: Goodwill BALANCE ON ADDITIONS/ DISP
Page 75 and 76: Brand impairment testing Whenever t
Page 77 and 78: 16A DEFERRED TAX ASSETS 31.12.2009
Page 79 and 80: 17 PROVISIONS 2009 2008 RESTRUCTURI
Page 81 and 82: Distribution of dividend In 2009 an
Page 83: For Information on compensation, lo
Page 87 and 88: 21 SECURITIES TRANSACTIONS 31.12.20
Page 89 and 90: 23A FINANCIAL INSTRUMENTS BY CATEGO
Page 91 and 92: 23B FINANCIAL INSTRUMENTS - FAIR VA
Page 93 and 94: The following table presents the ch
Page 95 and 96: DOMICILE CURRENCY SHARE CAPITAL EQU
Page 97 and 98: Name changes in the companies conso
Page 99 and 100: 26 ACQUISITIONS Purchase of Creinve
Page 101 and 102: Out of the total option grant to ma
Page 103 and 104: GAM Holding Ltd. Share Option Schem
Page 105 and 106: 104 GAM Holding Ltd. Annual Report
Page 111 and 112: BALANCE SHEET Assets Current assets
Page 113 and 114: NOTES CONTINGENT LIABILITIES 31.12.
Page 115 and 116: COMPENSATION, LOANS AND SHARE AND O
Page 117 and 118: NUMBER OF SHARES NUMBER OF VESTED O
Page 119 and 120: Loans to the members of the Senior
Page 121 and 122: PROPOSED APPROPRIATION OF RETAINED
Page 125 and 126: GAM HOLDING LTD Klausstrasse 10 P.O
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ANNUAL REPORT 2009 - GAM Holding AG

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