2010Annual Report - Schneider Electric CZ, s.r.o.

5 CONSOLIDATED FINANCIAL STATEMENTS
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
194
Dec. 31, 2010 Dec. 31, 2009
Of which SE
USA
Of which SE
USA
3. Change in projected benefi t obligation
Projected benefi t obligation at beginning of year 2,055 937 2,036 1,013
Service cost 43 2 55 18
Interest cost (effect of discounting) 109 56 109 57
Plan participants’ contributions 4 - 3 -
Benefi ts paid (134) (48) (132) (43)
Actuarial (gains)/losses recognised in equity 42 14 75 16
Past service cost 5 - 1 -
Changes in the scope of consolidation 87 - - -
Translation adjustments 130 73 1 (33)
Curtailments and settlements (7) - (92) (92)
Other 6 - (1) 1
PROJECTED BENEFIT OBLIGATION
AT END OF YEAR 2,340 1,034 2,055 937
Actuarial gains and losses have been fully recognised in Other
reserves.
They stem mainly from changes in actuarial assumptions (primarily
discount rates) used to measure obligations in the United States, the
United Kingdom and the euro zone.
At December 31, 2010, actuarial gains relative to the effects of
experience on pension and termination benefi t obligations totaled
EUR49 million for the Group.
At December 31, 2009, actuarial gains relative to the effects of
experience totaled EUR64 million for the Group. At December 31,
2008, actuarial losses relative to the effects of experience totaled
EUR445 million. At December 31, 2007, actuarial losses relative to
the effects of experience totaled EUR2 million.
Dec. 31, 2010 Dec. 31, 2009
Of which SE
USA
Of which SE
USA
4. Change in fair value of plan assets
Fair value of plan assets at beginning of year 1,112 643 1,010 611
Expected return on plan assets 82 56 74 50
Plan participants’ contribution 4 - 4 -
Employer contributions 21 1 18 1
Benefi ts paid (76) (47) (68) (43)
Actuarial gains/(losses) recognised in equity 38 32 71 47
Changes in the scope of consolidation 29 - - -
Translation adjustments 90 50 3 (22)
Curtailments and settlements - - - -
Other 4 - - (1)
FAIR VALUE OF PLAN ASSETS AT END OF YEAR 1,304 735 1,112 643
The actual return on plan assets was EUR120 million.
Actuarial gains and losses have been fully recognised in Other reserves.
They stem mainly from the differential between the effective and expected return on plan assets in the US, UK and Canada.
2010 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC