THE NATURE OF OUR BUSINESS – STABLE GROWTH - Symrise
THE NATURE OF OUR BUSINESS – STABLE GROWTH - Symrise
THE NATURE OF OUR BUSINESS – STABLE GROWTH - Symrise
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The entity in the US provides healthcare benefits to its employees.<br />
The costs are determined based on the assumption that the cost<br />
trend for 2009 and 2010 remains unchanged at 9% (2007: 9%) and<br />
then falls by 2% every two years until it reaches a minimum level<br />
of 5%, which is expected to be applicable in 2013 and later years.<br />
The pension liability has changed as follows:<br />
2007<br />
T€<br />
Liability<br />
Liability as benefit<br />
obligation as at January 1<br />
Exchange gains/losses<br />
Pension expense<br />
Employer contributions<br />
Benefit payments<br />
Disposal USA<br />
Pension liability as at<br />
December 31<br />
2008<br />
T€<br />
Liability<br />
Liability as benefit<br />
obligation as at January 1<br />
Exchange gains/losses<br />
Pension expense<br />
Employer contributions<br />
Benefit payments<br />
Disposal USA<br />
Pension liability as at<br />
December 31<br />
All significant pension obligations are measured using annual<br />
actuarial valuation appraisals.<br />
Annual Report 2008 <strong>Symrise</strong> AG 135<br />
Defined<br />
benefit plans<br />
of the Group<br />
163,822<br />
-793<br />
20,269<br />
-2,123<br />
-8,548<br />
-918<br />
171,709<br />
Defined<br />
benefit plans<br />
of the Group<br />
171,709<br />
-382<br />
17,189<br />
-1,841<br />
-9,020<br />
-492<br />
177,163<br />
Post-employment<br />
healthcare<br />
benefits, USA<br />
16,642<br />
-1,724<br />
17<br />
-349<br />
0<br />
0<br />
14,586<br />
Post-employment<br />
healthcare<br />
benefits, USA<br />
14,586<br />
545<br />
28<br />
-400<br />
0<br />
0<br />
14,759<br />
Total<br />
pension<br />
plans of<br />
the Group<br />
180,464<br />
-2,517<br />
20,286<br />
-2,472<br />
-8,548<br />
-918<br />
186,295<br />
Total<br />
pension<br />
plans of<br />
the Group<br />
186,295<br />
163<br />
17,217<br />
-2,241<br />
-9,020<br />
-492<br />
191,922<br />
The Group made statutory and other retirement benefit contributions<br />
amounting to € 10.0 million (2007: € 10.3 million). Of this<br />
amount, the share attributable to German companies amounted<br />
to € 9.9 million. These contributions were classified as being to<br />
defined contribution plans.<br />
Historical information:<br />
T€<br />
Present value of<br />
defined benefit<br />
obligation<br />
Fair value of<br />
plan assets<br />
Deficit in plan<br />
Experience<br />
adjustments<br />
arising on<br />
plan liabilities<br />
(Germany)<br />
Experience<br />
adjustments<br />
arising on<br />
plan assets<br />
2004<br />
183,221 217,017 219,383 200,567<br />
-15,691<br />
167,530<br />
n.a.<br />
n.a.<br />
2005<br />
-17,126<br />
199,891<br />
n.a.<br />
n.a.<br />
2006<br />
-18,681<br />
200,702<br />
-1,334<br />
420<br />
2007<br />
-20,613<br />
179,954<br />
-3,074<br />
-217<br />
2008<br />
204,449<br />
-19,593<br />
184,856<br />
4,502<br />
-4,771<br />
In 2009, the Group expects contributions of T€ 225 into the<br />
funded defined benefit plans.<br />
The experience adjustments to liabilities arising from defined<br />
benefit plan obligations for Germany amounted to € 4.5 million<br />
(actuarial loss) (2007: € 3.1 million actuarial gain).<br />
Notes
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