Technologies · Systems · Solutions - Dürr

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dependent on years of service. In addition, the pension benefits available to the employees
of Dürr’s German subsidiaries include a life insurance program (BZV) of € 701 thousand
(2003: € 708 thousand) in line with the tariff group.
The 1998 mortality tables published by Dr. Heubeck have been used to calculate the German
benefit obligations.
The US subsidiaries of Dürr have pension plans covering all non-union employees at these subsidiaries.
The plan provides benefits based on the average salaries earned in the past five years.
The US subsidiaries contribute to external pension funds for union employees. In the 2004
reporting period, the pension expenses for these employees came to around € 1,312 thousand
(2003: € 699 thousand).
In addition, Dürr’s US subsidiaries have a 401(k) profit-sharing plan for certain employees. The
benefits are based on years of service and the employees’ compensation. The Group’s contribution
is discretionary and is determined annually by the management. In the 2004 reporting period, the
pension expenses for these employees came to around € 2,660 thousand (2003: € 2,355 thousand).
The following table presents further information on these plans:
Amounts in €k
Dec. 31, 2004 Dec. 31, 2003
Changes in defined benefit obligation
Defined benefit obligation at the beginning of year 66,729 68,330
Effect of currency translation –1,794 –3,328
Service cost 3,097 2,819
Interest cost 3,767 3,778
Actuarial gains or losses 2,791 646
Benefits paid –4,038 –4,584
Reduction of pension pledges – –1,472
Other 452 540
Defined benefit obligation at end of year 71,004 66,729
Amounts in €k
Dec. 31, 2004 Dec. 31, 2003
Change in plan assets
Fair value of plan assets at beginning of year 16,810 18,173
Effect of currency translation –1,437 –3,116
Actual return on plan assets 1,199 1,966
Employer contributions 715 1,060
Benefits paid –1,192 –1,783
Plan assets from reinsurance 936 364
Others 53 146
Fair value of plan assets at end of year 17,084 16,810