Annual Report 2001 - Flughafen Wien

Provisions for severance compensation
___Legal regulations and collective bargaining agreements grant employees a one-time payment
on termination or retirement. The amount of severance compensation is based on the
length of service with the company and compensation at the end of employment.
Transition from present value to provision
in T€ 2001 2000
Present value of severance compensation obligations
as of 31.12. 38,147.3 35,211.7
Actuarial gain not recorded (accumulated) -5,549.1 359.0
Provision as of 31.12. per balance sheet 32,598.3 35,570.7
Expenses arising from severance compensation obligations
in T€ 2001 2000
Service cost 2,519.6 2,341.9
Interest expense 2,074.8 2,280.1
Actuarial gain recorded 0.0 0.0
Expenses arising from severance compensation obligations 4,594.5 4,621.9
Development of provision for severance compensation
in T€ 2001 2000
Provision as of 1.1. per balance sheet 35,570.7 40,376.7
Expenses arising from severance compensation obligations 4,594.5 4,621.9
Payments for severance compensation -7,566.8 -9,428.0
Provision as of 31.12. per balance sheet 32,598.3 35,570.7
Development of actuarial gain/loss
in T€ 2001 2000
Actuarial gain not recorded (accumulated) as of 1.1. 359.0 1,517.8
Corridor as of 1.1. 3,521.2 3,885.9
Surplus 0.0 0.0
Distribution period in years 5 5
Actuarial gain not recorded (accumulated) as of 1.1. 359.0 1,517.8
Actuarial gain, current year -5,908.0 -1,158.8
Actuarial gain recorded 0.0 0.0
Actuarial gain not recorded (accumulated) as of 31.12. -5,549.1 359.0
Provisions for Pensions
___Flughafen Wien AG has concluded individual agreements for pensions or supplementary
retirement payments with key employees. Employees who joined the Company after
1 September 1986 are covered by special company agreements. Payments are dependent on
the length of employment and final compensation.
___In the fall of 2001 recipients of pensions were given the option of receiving a one-time
settlement payment equal to 80% of the 2000 provision for pensions, as calculated in accordance
with Austrian commercial law. A total of 344 retirees had accepted this offer by the end
2001. Actuarial gains and losses are shown as a decrease in the cost of pensions for 2001.
88 Notes
Annual Report 2001