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METRO gROUP : ANNUAL REPORT 2011 : BUsiNEss
→ noTes : noTes To THe BalanCe sHeeT
Changes in the net present value of defined benefit obligations
(DBo) and plan assets of external pension providers are
shown in the chart below:
€ million
Net present value
2010 2011
at 1 January 1,944 2,026
Interest expenses 101 98
service cost 41 37
past service cost –7 –5
Curtailment/compensation –8 0
plan costs 0 0
pension payments –126 –125
actuarial gains (-)/losses (+) 66 –29
Change in consolidation group 0 0
Currency effects 15 6
At 31 December 2,026 2,008
Changes in plan assets
at 1 January 870 936
expected income on plan assets 41 43
plan costs –1 –1
pension payments –74 –77
employer contributions 34 55
Contributions from plan participants 13 12
actuarial gains (+)/losses (-) 38 2
Currency effects 15 7
At 31 December 936 977
Financing status
net present value (DBo), not fund-financed
net present value (DBo),
744 738
wholly or partly fund-financed 1,282 1,270
subtotal 2,026 2,008
Market value of plan assets –936 –977
at 31 December
actuarial gains (+)/losses (-)
1,090 1,031
not yet considered –244 –203
past service cost
account not shown as an asset
–6 –6
due to definition of Ias 19.58 (b)
Recognised reimbursement claims
0 0
pursuant to Ias 19.104a
Commitments measured based
0 0
on local criteria 2 2
Recognised assets pursuant to Ias 19.58
Provisions for company pensions as
95 131
of 31 December 937 955
→ p. 223
provisions for company pension plans in the amount of
€955 million (previous year: €937 million) are netted against
assets for indirect pension plans, particularly in the United
Kingdom, the netherlands and Belgium, of €131 million (previous
year: €95 million).
The pension expenses of the direct and indirect company
pension plans can be broken down as follows:
€ million 2010 2011
Interest expense on net present value (DBo) 101 98
expected return on plan assets –41 –43
Recognised actuarial gains (-)/losses (+) 26 11
service cost1 28 28
Curtailment –5 0
asset limitation 0 0
past service cost –6 –4
103 90
1 netted against employees’ contributions
In addition to expenses from defined benefit pension commitments,
expenses for payments to external pension providers
relating to defined benefit commitments of €50 million (previous
year: €53 million) were considered in the financial year 2011.
The other provisions for commitments similar to pensions
essentially comprise commitments from employment anniversary
allowances, death benefits and pre-retirement parttime
plans. provisions amounting to €21 million (previous
year: €28 million) were formed for commitments from preretirement
part-time plans. The corresponding expenses
amount to €3 million (previous year: €5 million).
The commitments are valued on the basis of actuarial calculations.
In principle, the parameters used are identical to
those employed in the company pension plan.