Financial statements I Notes to the consolidated financial statements continued
28. Employee benefits continued
Movements in the present value of plan assets
2011
Fair value of plan assets as at 1 January
5,646
4,858
Changes in consolidation and reclassification
-
115
Effect of movements in exchange rates
76
127
Contributions paid into the plan
145
226
Benefits paid
(307)
(298)
Expected return on plan assets
315
298
Actuarial gains/(losses) in other comprehensive income
(15)
320
Fair value of plan assets as at 31 December
5,860
5,646
Actual return on plan assets
307
618
Expense recognised in profit or loss
Note
2011
Current service costs
71
77
Interest on obligation
340
334
Expected return on plan assets
(315)
(298)
Past service costs
(5)
(9)
Effect of any curtailment or settlement
(35)
(15)
10
56
89
Comparatives have been adjusted due to the accounting policy change in employee benefits (see note 2e)
Actuarial gains and losses recognised in other comprehensive income
2011
Amount accumulated in retained earnings at 1 January
410
547
Recognised during the year
109
(137)
519
410
Principal actuarial assumptions as at the balance sheet date
The defined benefit plans in the Netherlands and the UK cover 87.2 per cent of the present value of the plan assets (2010:86.8 per cent). 82.8 per
cent of the present value of the defined benefit obligations (2010:81.7 percent) and 57.8 per cent of the present value of net obligations (2010:52.9
per cent) as at 31 December 2011The table below presents the expected return on plan assets compared to the actual return on plan assets
for our main defined benefit plans.
The Netherlands UK
2011
2011
Expected return on plan assets
125
121
152
145
Actual return on plan assets
62
275
226
304
Variance
(63)
154
74
159
120
Heineken N.V. Annual Report 2011
