AT&S World
AT&S World
AT&S World
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Consolidated Financial Statements as of 31 March 2011<br />
96<br />
The following actuarial parameters were used for the measurement<br />
at the balance sheet date:<br />
18. Other provisions<br />
Retirement benefits Termination benefits<br />
Warranty provision<br />
The provision for warranties relates to the costs for expected<br />
complaints about products still under warranty. The accrued<br />
amount is the best estimate of these costs based on past experience<br />
and actual facts, which due to the uncertainty as to amount<br />
and timing are not yet recognised as liabilities.<br />
Other employee benefits<br />
(anniversary bonuses)<br />
31 March 31 March 31 March<br />
2011 2010 2011 2010 2011 2010<br />
Discount rate 5% 5% 5–8.35% 5–8.25% 3.25–5% 2–5%<br />
Expected return on plan assets<br />
Expected rate of<br />
5.31% 5.55% 8% 8% – –<br />
compensation increase<br />
Expected rate of<br />
2.25% 2.25% 3–7.75% 3–7% 3–10% 3–10%<br />
pension increase 2% 2% – – – –<br />
Retirement age 58–65 58–65 individual<br />
according to 2003<br />
pension reform<br />
individual<br />
according to 2003<br />
pension reform<br />
– –<br />
(in EUR 1,000) Total Warranty Restructuring Leoben Others<br />
Carrying amount 31 March 2010 18,247 901 13,657 3,689<br />
Utilisation (4,644) (202) (888) (3,554)<br />
Reversal (358) (203) – (155)<br />
Addition 1,340 445 – 895<br />
Interest effect 114 – 114 –<br />
Exchange differences (34) (14) – (20)<br />
Carrying amount 31 March 2011 14,665 927 12,883 855<br />
(in EUR 1,000) Total Warranty<br />
Closure<br />
Augsburg plant<br />
Restructuring<br />
Leoben Others<br />
Carrying amount 31 March 2009 10,297 1,265 39 8,533 460<br />
Utilisation (2,048) (535) (39) (1,015) (459)<br />
Reversal (79) (78) – – (1)<br />
Addition 9,762 248 – 6,072 3,442<br />
Interest effect 67 – – 67 –<br />
Exchange differences 248 1 – – 247<br />
Carrying amount 31 March 2010 18,247 901 – 13,657 3,689<br />
31 March<br />
(in EUR 1,000) 2011 2010<br />
thereof non-current 11,967 12,769<br />
thereof current 2,698 5,478<br />
Carrying amount 14,665 18,247<br />
Provision for the restructuring Leoben-Hinterberg<br />
This provision for costs from contractual obligations relates to<br />
future vacancy costs for no longer used building space based on<br />
the non-cancellable property lease obligations. The provision<br />
was recognised in the amount of the present value of the expenses<br />
expected to be incurred largely in the long term.<br />
Others<br />
Sundry other provisions relate to provisions for other short-term<br />
onerous contracts.
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