Download - Ferrovial - Annual Report 2012

Consolidated financial statements at 31 December 2011
Ferrovial S.A. and Subsidiaries
d) Impact on the income statement:
The detail of the impact of the defined benefit pension plans on the income statement is as follows:
Millions of euros
DEFINED BENEFIT PLANS 2011 2010
Amey Ltd Group BAA Amey Ltd Group
Impact on profit before tax
Current service cost 10 57 13
Interest cost 33 151 34
Expected return on assets -38 -161 -33
Past service cost 0 0 -53
Other -18 -14 -10
Total recognised in the income statement -14 35 -49
(*) Expenses are positive and income is negative.
“Other” in the table of the impact on the income statement before tax includes income of EUR 18 million due to the re-estimate of the
pension debt of one of the Group's plans at 31 December 2010 effective from 1 January 2011 onwards, assuming an increase in
pensions of an RPI of 1% instead of an RPI of 1.5%.
e) Complete actuarial reviews:
The Amey Group performs complete actuarial valuations every three years, depending on the plan, and the most recent reviews began
in April 2011. It usually takes one year for the results to become known.
f) Sensitivity analysis:
Set forth below is a sensitivity analysis showing the impact on the income statement and on equity of a change of 50 basis points in
the discount rate.
Sensitivity analysis discount rate
(+ / - 50 b.p.)
Annual impact on the income statement
Before
tax
After
tax
Before
tax
Annual impact on equity
+ 50 b.p. 1 0 69 52
- 50 b.p. -1 0 -69 -52
After
tax
Defined contribution plans
The Amey Group has 23 defined contribution plans with an impact on the income statement of EUR 13 million, covering a total of
3,950 employees.
Ferrovial, S.A. Consolidated financial statements at 31 December 2011 58