ANNUAL REPORT 2011 - Kuehne + Nagel

2011 2010
CHF million Funded Unfunded Total Funded Unfunded Total
plans plans plans plans
Movements of present value of
defined benefit obligations
Opening liability for defined
benefit obligations
Liabilities assumed through
126 220 346 122 240 362
business combinations 15 – 15 – 1 1
Employee contribution 4 – 4 3 – 3
Current service costs 6 4 10 5 4 9
Interest costs 5 10 15 5 11 16
Benefits paid by the plan
Actuarial (gains)/losses recognised
–4 –10 –14 – –11 –11
in other comprehensive income 13 –2 11 5 14 19
Amendments/settlements –2 2 – –5 –2 –7
Curtailment –2 – –2 – – –
Exchange differences
Closing liability for defined
– –6 –6 –9 –37 –46
benefit obligations 161 218 379 126 220 346
Expense recognised in the
income statement
Consolidated Financial Statements 2011 _ _ _ _ _ _ Other Notes
Current service costs 6 4 10 5 4 9
Interest costs 5 10 15 5 11 16
Expected return on plan assets
Expense recognised in
personnel expenses
–5 – –5 –4 – –4
(refer to note 21) 6 14 20 6 15 21
Actuarial gains/(losses)
recognised in other
comprehensive income
excluding tax
Cumulative amount as of January 1 –17 –8 –25 –14 7 –7
Recognised during the year –19 2 –17 –3 –14 –17
Exchange differences
Cumulative amount
– – – – –1 –1
as of December 31 –36 –6 –42 –17 –8 –25
93