Brambles 2006 Annual Report - Alle jaarverslagen

124
Brambles
2006 Annual Report
NOTES TO AND FORMING PART OF
THE CONSOLIDATED FINANCIAL STATEMENTS continued
for the year ended 30 June 2006
Note 26.
Retirement benefit obligations continued
f) Defined benefit obligation
Changes in the present value of the defined benefit obligation were as follows:
2006
US$m
At 1 July 583.6 499.6
Current service cost 20.3 22.2
Interest cost 27.7 30.1
Contributions from plan members 3.9 5.4
Actuarial gains and losses 4.3 47.4
2005
US$m
Currency variations 18.8 (8.6)
Benefits paid (13.8) (13.1)
Past service cost (0.6) 0.6
Disposal of subsidiaries (42.1) –
At 30 June 602.1 583.6
A number of the defined benefit pension arrangements are closed to new entrants. Under the projected unit method, the current service
cost of these arrangements will increase as a percentage of payroll as the members of the plan approach retirement.
g) Plan assets
Assets held in the plans fell within the following categories:
2006
Fair value
2005
Fair value
US$m % US$m %
Equities 317.7 70.1 267.7 67.8
Bonds 78.0 17.2 72.0 18.2
Insurance bonds 5.6 1.2 5.9 1.5
Cash 13.7 3.0 10.2 2.6
Other 38.1 8.5 38.8 9.9
Changes in the fair value of the plan assets were as follows:
453.1 100.0 394.6 100.0
2006
US$m
At 1 July 394.6 322.1
Expected return on plan assets 24.2 22.1
Actuarial gains and losses 31.1 38.2
2005
US$m
Currency variations 8.9 (8.8)
Contributions from the sponsoring employers 23.2 28.7
Contributions from plan members 3.9 5.4
Benefits paid (13.8) (13.1)
Disposal of subsidiaries (19.0) –
At 30 June 453.1 394.6
The actual return on plan assets was US$55.3 million (2005: US$60.3 million).