Amadeus IT Holding, S.A. and Subsidiaries - Investor relations at ...

AMADEUS IT HOLDING, S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED ANNUAL ACCOUNTS FOR THE YEARS ENDED
DECEMBER 31, 2011, AND 2010
(EXPRESSED IN THOUSANDS OF EUROS - KEUR)
47
31/12/2011 31/12/2010
Equity instruments 6,447 4,323
Defined benefit plan assets 1,320 -
Other loans and deposits 8,657 40,041
Total other non current financial assets 16,424 44,364
Defined benefit plans liability 41,021 29,439
Other 1,088 1,147
Total other non current financial liabilities 42,109 30,586
The decrease in “Other non-current financial assets” caption, is mainly due to the
transfer of the deposit held as guarantee for the equity forward contract by KEUR
30,509 to “Other current financial assets”, as the settlement of this deposit will take
place on May 3, 2012.
Certain Group companies operate defined benefit plans. Depending on the country,
these plans are offered on a voluntary basis or are mandatory as a result of the
respective legal or Collective Agreement requirements. The benefits consist mainly
of a life long annuity or lump sum payable at retirement, death, disability or early
retirement when certain conditions are met. Some of the plans provide death and
retirement benefits to spouses subject to member contributions at higher rates. The
Group provides for post-retirement medical plan and post-retirement life insurance
benefits to a group of beneficiaries in the U.S.A.. Most of the obligations under
defined benefit plans are voluntary based and operate on a funded basis with plan
assets covering the obligations whilst mandatory plans are generally unfunded and
book reserved.
The amounts related to defined benefit plans recognized in the statement of financial
position at December 31 for the years ended 2011, and 2010 were the following:
31/12/2011 31/12/2010
Present value of wholly unfunded obligations 20,256 17,136
Present value of partially or wholly funded obligations 68,411 55,605
Present value of defined benefit obligations 88,667 72,741
Fair value of plan assets (48,966) (43,302)
Net liability in the statement of financial position 39,701 29,439