Annual Report 2010/11 - Sonova

138
Amounts recognized in the income statement CHF 1,000 2010/11 2009/10
Current service cost 19,338 17,699
Participants’ contributions (8,103) (7,373)
Interest cost 5,454 4,731
Expected return on plan assets (6,716) (4,890)
Total employee benefit expenses 9,973 10,167
The amount recognized in the consolidated income statement 2010/11 has been charged to cost of sales (CHF 3.6 million,
previous year CHF 3.0 million), research and development (CHF 2.6 million, previous year CHF 3.0 million), sales and
marke ting (CHF 1.4 million, previous year CHF 1.5 million) as well as general and administration (CHF 2.3 million, previous
year CHF 2.7 million) in the income statement.
Movement in the present value of the defined benefit obligation CHF 1,000 2010/11 2009/10
Beginning of the year 167,311 144,956
Interest cost 5,454 4,731
Current service cost 19,338 17,699
Benefits received/(paid), net 963 (633)
Actuarial loss on obligation 5,799 532
Exchange differences (138) 26
Present value of obligation at end of period 198,727 167,311
Movement in the fair value of the plan assets CHF 1,000 2010/11 2009/10
Beginning of the year 167,890 122,205
Expected return on plan assets 6,716 4,890
Employer’s contributions paid 10,972 10,056
Participants’ contributions 8,103 7,373
Benefits received/(paid), net 1,110 (544)
Actuarial (loss)/gain on plan assets (1,215) 23,870
Exchange differences (116) 40
Fair value of plan assets at end of period 193,460 167,890
Principal actuarial assumptions (weighted average) 2010/11 2009/10
Discount rate 3.10% 3.25%
Future salary increases 1.75% 1.75%
Future pension increases 0% 0%
Expected return on plan assets 4% 4%
Fluctuation rate 10% 10%