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<strong>METRO</strong> 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.
<strong>METRO</strong> gROUP : ANNUAL REPORT 2011 : BUsiNEss → noTes : noTes To THe BalanCe sHeeT 33. Other provisions (non-current)/provisions (current) In the reporting year, other provisions (non-current)/provisions (current) changed as follows: € million Real estate- related obligations provisions for real estate-related obligations essentially concern location risks in the amount of €79 million (previous year: €72 million), uncovered rental commitments of €59 million (previous year: €84 million), rental commitments of €21 million (previous year: €20 million) as well as re- ins tatement obligations in the amount of €20 million (previous year: €20 million). other real estate obligations in the amount of €15 million (previous year: €20 million) stem essentially from maintenance obligations. significant components of the obligations from merchandise trading are provisions for rebates from customer loyalty programmes in the amount of €78 million (previous year: €78 million) as well as provisions for guarantee services in the amount of €56 million (previous year: €53 million). → p. 224 Obligations from merchandise trading Restructuring Taxes Others Total at 1/1/2011 216 147 179 200 262 1,004 Currency translation –1 –1 –2 0 1 –3 addition 79 168 95 164 131 637 Disposal –38 –1 –30 –57 –60 –186 Utilisation –51 –135 –93 –107 –80 –466 Change in consolidation group 0 0 0 1 1 2 Interest portion in addition/change in interest rate 7 3 2 0 2 14 Transfer –18 8 8 –10 19 7 At 31/12/2011 194 189 159 191 276 1,009 non-current 129 15 49 153 132 478 Current 65 174 110 38 144 531 As of 31/12/2011 194 189 159 191 276 1,009 The other provisions item contains mainly provisions for litigation costs/risks in the amount of €47 million (previous year: €35 million), termination benefits of €22 million (previous year: €18 million) as well as surety and guarantee risks of €19 million (previous year: €12 million). provisions for share-based payments amount to €9 million (previous year: €60 million). supplementary explanations on share-based payments are provided in no. 48 “share-based compensation for executives”. Transfers concern both reclassifications within other provisions as well as reclassifications between other provisions and other balance sheet items. Depending on the respective terms and countries, interest rates of non-interest-bearing, non-current provisions range from 2.5 percent to 13.3 percent.
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METRO gROup : ANNuAL REpORT 2011
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ASIA E F G H SALES EASTERN EUROPE (
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