Bradken Limited Annual Report 2015 - page 103

BRADKEN LIMITED ANNUAL REPORT 2015 l 68
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Notes to the consolidated financial statements
30 June 2015
(continued)
19 Employee defined benefit liability (continued)
Defined
Fair value
benefit
of
Benefit
obligation plan assets Liability
$'000
$'000
$'000
Balance at 1 July 2014
(60,735)
51,618
(9,117)
Pension costs charged to profit or loss
Service cost
(1,343)
(89)
Net Interest
(2,658)
2,261
Subtotal included in profit or loss
(4,001)
2,172
(1,829)
Benefits paid
2,826
(2,826)
-
Re-measurement gains/(losses) in other comprehensive income
Return on plan assets (excluding amounts included in net interest expense)
-
(157)
(157)
Actuarial changes arising from changes in demographic assumptions
(4,187)
-
(4,187)
Actuarial changes arising from changes in financial assumptions
473
-
473
Experience adjustments
(31)
-
(31)
Sub-total included in OCI
(3,745)
(157)
(3,902)
Contributions by employer
-
2,278
2,278
Foreign currency exchange differences
(8,983)
7,180
(1,803)
Balance at 30 June 2015
(74,638)
60,265
(14,373)
(c) Categories of the plan assets
2015
2014
$'000
$'000
Cash equivalents
13,067
10,311
Fixed interest
7,947
8,117
Equity securities
39,251
33,190
60,265
51,618
(d) Principal assumptions
2015
2014
$'000
$'000
Discount rate:
US Defined benefit retirement plan
4.09% 3.92%
Canadian defined benefit retirement plans
4.10% 4.90%
The major categories of plan assets included in the fair value of the total plan assets are as follows:
The principal assumptions used in determining pension obligations for the Group's plans are shown below:
1...,93,94,95,96,97,98,99,100,101,102 104,105,106,107,108,109,110,111,112,113,...131
Powered by FlippingBook