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BP » Topics » Note 12 - Pension and other post-retirement benefits

This excerpt taken from the BP 6-K filed Aug 9, 2007.

Note 12 – Pension and other post-retirement benefits

    Three months ended 30 June 2007  
    (Unaudited)  
   
 
    UK   US   Other   Total  
   
 
 
 
 
    ($ million)  
Current service cost   122   67   33   222  
Past service cost   –   –   –   –  
Settlement, curtailment and special termination
   benefits		   7   –   –   7  
Payments to defined contribution plans   –   44   5   49  
   
 
 
 
 
Total operating charge   129   111   38   278  
   
 
 
 
 
Expected return on plan assets   (514 ) (152 ) (42 ) (708 )
Interest on plan liabilities   297   152   97   546  
   
 
 
 
 
Interest net of expected return on plan assets   (217 ) –   55   (162 )
   
 
 
 
 


    Three months ended 30 June 2006  
    (Unaudited)  
   
 
    UK   US   Other   Total  
   
 
 
 
 
    ($ million)  
Current service cost   108   64   33   205  
Past service cost   –   –   10   10  
Settlement, curtailment and special termination
   benefits		   13   –   2   15  
Payments to defined contribution plans   –   39   4   43  
   
 
 
 
 
Total operating charge   121   103   49   273  
   
 
 
 
 
Expected return on plan assets   (424 ) (142 ) (33 ) (599 )
Interest on plan liabilities   250   153   81   484  
   
 
 
 
 
Interest net of expected return on plan assets   (174 ) 11   48   (115 )
   
 
 
 
 

-31-

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BP p.l.c. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

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