Endeavour Energy Annual Performance Report - Parliament of New ...

14 Employee Benefits – Superannuation continued
(d) Movement in the present value of the defined benefit obligation
2011
$’000
2010
$’000
Defined benefit obligation at 1 July 329,764 294,602
Current service cost 10,378 12,593
Interest cost 18,842 17,162
Contributions by scheme participants 4,266 4,225
Actuarial (gains)/losses in other comprehensive income 12,983 12,133
Benefits paid by the plan (21,487) (10,951)
Defined benefit obligation at 30 June 354,746 329,764
(e) Movement in the present value of plan assets
2011
$’000
2010
$’000
Fair value of plan assets at 1 July 268,056 233,120
Expected return on plan assets 21,440 18,691
Actuarial gains/(losses) in other comprehensive income 7,541 8,567
Employer contributions 9,795 14,404
Contributions paid into the plan 4,266 4,225
Benefits paid by the plan (21,487) (10,951)
Fair value of plan assets at 30 June 289,611 268,056
(f) Expense recognised in profit or loss
2011
$’000
2010
$’000
Current service cost 10,378 12,593
Interest on obligation 18,842 17,162
Expected return on plan assets (21,441) (18,691)
Expense recognised in profit or loss 7,779 11,064
The superannuation expense recognised in profit or loss is included in the line item ‘total other expenses relating
to operating activities’ Superannuation actuarial losses of $5.4m (2010 $3.6m) are separately identified in other
comprehensive income.
(g) Actuarial gains/(losses) recognised in other comprehensive income
2011
$’000
2010
$’000
Cumulative amount at 1 July (83,539) (79,973)
Recognised during the period (5,443) (3,566)
Cumulative amount at 30 June (88,982) (83,539)
Endeavour Energy Annual Performance Report 2010–11
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