Registration document 2007 - Total.com
Registration document 2007 - Total.com
Registration document 2007 - Total.com
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18) Employee benefits obligations<br />
Provisions for employee benefits obligations consist of the following:<br />
Appendix 1 – Consolidated financial statements<br />
Notes to the consolidated financial statement<br />
As of December 31, (in M€) 2006 2005<br />
Pension benefits liabilities 1,918 2,524<br />
Other benefits liabilities 647 718<br />
Restructuring reserves (early retirement plans) 208 171<br />
<strong>Total</strong> 2,773 3,413<br />
The fair value of the defined benefit obligation and plan assets in the consolidated financial statements is detailed as follows:<br />
Pension benefits Other benefits<br />
As of December 31 (in M€) 2006 2005 2006 2005<br />
Change in benefit obligation<br />
Benefit obligation at beginning of year 9,647 8,117 774 675<br />
Service cost 174 168 11 14<br />
Interest cost 392 411 30 36<br />
Curtailments (6) - (1) -<br />
Settlements (243) (14) - -<br />
Special termination benefits - - - -<br />
Plan participants’ contributions 11 15 - -<br />
Benefits paid (444) (436) (36) (48)<br />
Plan amendments 17 139 7 2<br />
Actuarial losses (gains) (151) 1,003 (21) 57<br />
Translation adjustment and other (a) (655) 244 (116) 38<br />
Benefit obligation at year-end 8,742 9,647 648 774<br />
Change in fair value of plan assets<br />
Fair value of plan assets at beginning of year (6,274) (5,362) - -<br />
Expected return on plan assets (353) (356) - -<br />
Actuarial losses (gains) (104) (364) - -<br />
Settlements 201 12 - -<br />
Plan participants’ contributions (11) (15) - -<br />
Employer contributions (b) (617) (323) - -<br />
Benefits paid 327 337 - -<br />
Foreign currency translation and other (c) 430 (203) - -<br />
Fair value of plan assets at year-end (6,401) (6,274) - -<br />
Unfunded status 2,341 3,373 648 774<br />
Unrecognized prior service cost (149) (171) 23 35<br />
Unrecognized actuarial (losses) gains (423) (777) (24) (91)<br />
Asset ceiling 4 5 - -<br />
Net recognized amount 1,773 2,430 647 718<br />
Accrued benefit cost 1,918 2,524 647 718<br />
Prepaid benefit cost (145) (94) - -<br />
(a) In 2006, the change in foreign currency translation and other includes the spin-off of Arkema which amounts to (587) and (107) M€ of benefit obligation for pension benefits and other<br />
pension benefits, respectively.<br />
(b) In 2006, the Group covered certain employee pension benefit plans through insurance <strong>com</strong>panies for an amount of 269 M€.<br />
(c) In 2006, the change in foreign currency translation and other includes the spin-off of Arkema which amounts to 375 M€ of fair value of plan assets.<br />
As of December 31, 2006, the present value of pension benefits and other pension benefits which are entirely or partially funded amounted<br />
to 7,358 M€ and the present value of the unfunded benefits amounted to 2,032 M€ (respectively 8,046 M€ and 2,375 M€ as of December<br />
31, 2005).<br />
9<br />
TOTAL – <strong>Registration</strong> Document 2006 205