Connect - Schneider Electric

5 CONSOLIDATED FINANCIAL STATEMENTS
NOTES TO THE CONSOLIDATED FINANCIAL
194 2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC
Dec. 31, 2011 Dec. 31, 2010
Of which SE USA Of which SE USA
5. Funded status
Projected benefi t obligation (2,685) (1,210) (2,340) (1,034)
Fair value on plan assets 1,421 814 1,304 735
Surplus/ (Defi cit) (1,264) (396) (1,036) (299)
Effect of the asset ceiling
Deferred items:
- - - -
Unrecognized past service cost 1 1 4 -
(LIABILITIES)/NET ASSET RECOGNIZED IN THE
BALANCE SHEET (1,263) (395) (1,032) (299)
Amounts related to pensions and termination benefi t obligations as of 2011 and the four previous periods are as follows:
22.3 – Provisions for healthcare costs, life insurance benefits and other post-employment
benefits
Changes in provisions for other post-employment and long-term benefi ts were as follows:
Dec. 31, 2011 Dec. 31, 2010 Dec. 31, 2009 Dec. 31, 2008 Dec. 31, 2007
6. Historical data
Projected benefi t obligation (2,685) (2,340) (2,055) (2,036) (1,958)
Fair value on plan assets 1,421 1,304 1,112 1,010 1,402
Surplus/ (Defi cit) (1,264) (1,036) (943) (1,026) (556)
Effect of the asset ceiling
Deferred items:
- - (1) (2) (10)
Unrecognized past service cost 1 4 0 1 1
(LIABILITIES)/NET ASSET RECOGNIZED
IN THE BALANCE SHEET (1,263) (1,032) (944) (1,027) (565)
Dec. 31, 2011 Dec. 31, 2010
1. Components of net cost recognized in the statement of income
Service cost 7 7
Interest cost (effect of discounting) 20 22
Expected return on plan assets - -
Past service cost (7) (4)
Curtailments and settlements (42) -
Amortization of actuarial gains & losses - -
NET COST RECOGNIZED IN THE STATEMENT OF INCOME (22) 25
Amortisation of actuarial gains and losses concerns long-term
benefi ts for active employees, notably long service awards in
France.
In 2011, healthcare plan curtailment in the US decreased the benefi t
obligation.