Annual Review 2012 - Luxottica

Consolidated financial statements - NOTES
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The following tables provide key information pertaining to the Lux Pension Plan and SERPs.
Obligation and funded status
(thousands of Euro)
Change in benefit obligations:
Pension Plan
SERPs
2012 2011 2012 2011
Benefit obligation - beginning
of period 483,738 409,316 12,344 11,339
Service cost 22,366 19,171 510 491
Interest cost 24,189 21,323 488 625
Actuarial (gain)/loss 54,071 29,051 1,153 896
Benefits paid (15,209) (12,719) (18) (969)
Settlements - - (3,897) -
Plan amendment - (85) - (453)
Translation difference (11,590) 17,681 (192) 415
Benefit obligation - end of period 557,565 483,738 10,388 12,344
(thousands of Euro)
Pension Plan
SERPs
2012 2011 2012 2011
Change in plan assets:
Fair value of plan assets - beginning
of period 355,563 314,502 - -
Expected return on plan assets 27,985 24,992 - -
Actuarial gain/(loss) on plan assets 21,594 (28,762) - -
Employer contribution 48,898 45,100 - -
Direct benefit payments made
by the Company - - 3,915 969
Benefits paid (15,209) (12,719) (18) (969)
Settlements (3,897)
Translation difference (9,056) 12,450 - -
Fair value of plan assets - end
of period 429,775 355,563 - -
Unfunded status - end of period 127,790 128,175 10,388 12,344