Changes in the fair value of US plan assets
|
Group |
| (all amounts in Euro thousands) |
2013 |
2012 |
| Fair value of plan assets at the beginning of the period |
8.205 |
7.384 |
| Expected return |
1.159 |
789 |
| Company contributions |
570 |
866 |
| Benefits paid |
-805 |
-666 |
| Exchange difference |
-389 |
-168 |
| Fair value of plan assets at the end of the period |
8.740 |
8.205 |
A quantitative sensitivity analysis for significant assumptions as at 31 December 2013 is shown below:
Assumptions
|
Greece |
USA |
| (all amounts in Euro thousands) |
0.5%
increase |
0.5%
decrease |
1.0%
increase |
1.0%
decrease |
| Impact on the net defined benefit obligation: |
|
|
|
|
| Discount rate |
-723 |
789 |
-1.160 |
1.378 |
| Salary |
788 |
-729 |
- |
- |
| Health care costs |
- |
- |
126 |
-109 |
| Impact on the current service costs: |
|
|
|
|
| Discount rate |
-45 |
50 |
72 |
-93 |
| Salary |
53 |
-48 |
- |
- |
| Health care costs |
- |
- |
5 |
-4 |
The sensitivity analyses above have been determined based on a method that extrapolates the impact on net defined benefit obligation as a result of reasonable changes in key assumptions occurring at the end of the reporting period.
The following payments are expected contributions to be made in the future years out of the defined benefit plan obligation:
|
2013 |
| (all amounts in Euro thousands) |
Group |
Company |
| Not later than 1 years |
2.963 |
1.971 |
| Later than 1 years and not later than 5 years |
3.865 |
528 |
| Later than 5 years and not later than 10 years |
8.347 |
3.398 |
| Beyond 10 years |
25.189 |
10.477 |
| Total expected payments |
40.364 |
16.374 |
The components of re-measurement (gains)/losses recognized immediately in the other comprehensive (loss)/income for the years ended December 31, 2013 and 2012 are as follows:
|
Group |
Company |
| (all amounts in Euro thousands) |
2013 |
2012 |
2013 |
2012 |
| Due to experience |
-576 |
2.610 |
-330 |
3.078 |
| Due to assumptions |
-1.425 |
-2.098 |
-321 |
-3.824 |
| Re-measurement (gains)/losses on DBO |
-2.001 |
512 |
-651 |
-746 |
| Re-measurement gains on plan assets |
-883 |
-469 |
- |
- |
| Re-measurement (gains)/losses for the period |
-2.884 |
43 |
-651 |
-746 |