Connect - Schneider Electric

CONSOLIDATED FINANCIAL STATEMENTS
NOTES TO THE CONSOLIDATED FINANCIAL
Dec. 31, 2011 Dec. 31, 2010
2. Change in projected benefi t obligation
Projected benefi t obligation at beginning of year 445 406
Service cost 7 7
Interest cost (effect of discounting) 20 22
Plan participants’ contribution 2 2
Benefi ts paid (21) (26)
Actuarial (gains)/losses recognized in equity 20 -
Past service cost (41) -
Changes in the scope of consolidation (1) 5
Translation adjustments 9 29
Other (including curtailments and settlements) - -
PROJECTED BENEFIT OBLIGATION AT END OF YEAR 440 445
Actuarial gains and losses have been fully recognised in Other
reserves except for long-term benefi ts for active employees,
notably long service awards in France, for which all actuarial gains
and losses are recognised in the income statement. Actuarial
gains and losses stem from changes in actuarial assumptions
(primarily discount rates).
At December 31, 2011, actuarial losses relative to the effects
of experience on healthcare costs, life insurance and other
post- employment benefi ts totaled EUR21 million for the Group.
Actuarial gains totaled EUR26 million at December 31, 2010.
At December 31, 2009, actuarial losses relative to the effects of
experience totaled EUR18 million for the Group. They totaled
EUR10 million at December 31, 2008. And at December 31, 2007,
actuarial gains relative to the effects of experience totaled
EUR59 million.
Dec. 31, 2011 Dec. 31, 2010
3. Funded status
Projected benefi t obligation
Deferred items:
(440) (445)
Unrecognized past service cost (20) (27)
PROVISION RECOGNIZED IN BALANCE SHEET (460) (472)
Amounts related to healthcare costs and other post-employment obligations as of 2011 and the four previous periods are as follows:
Dec. 31, 2011 Dec. 31, 2010 Dec. 31, 2009 Dec. 31, 2008 Dec. 31, 2007
4. Historical data
Projected benefi t obligation
Deferred items:
(440) (445) (406) (401) (366)
Unrecognized past service cost (20) (27) (29) (35) (33)
PROVISION RECOGNIZED IN BALANCE SHEET (460) (472) (435) (436) (399)
2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC
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