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These excerpts taken from the ICI 6-K filed Mar 21, 2007. Components of net periodic benefit cost
The net periodic benefit cost under SFAS No. 87 and SFAS No. 88 for the Group’s pension benefit plans, and under SFAS No. 106 in respect of other post-retirement benefit plans, comprised:
Total amount credited to IFRS income statement £14m resulting in a GAAP difference of £191m. This is presented as £164m within post-retirement expense and £27m in disposal of businesses. There are no charges in 2005 or 2006 for contractual terminations included in net periodic benefit costs, which are included within the relevant IFRS statutory headings.
(viii) Pensions and other post-retirement
benefits – US GAAP (continued)
Components of net periodic benefit cost The net periodic benefit cost under SFAS No. 87 and SFAS No. 88 for the Group’s pension benefit plans, and under SFAS No. 106 in respect of other post-retirement benefit plans, comprised:
Total amount credited to IFRS income statement £14m resulting in a GAAP difference of £191m. This is presented as £164m within post-retirement expense and £27m in disposal of businesses. There are no charges in 2005 or 2006 for contractual terminations included in net periodic benefit costs, which are included within the relevant IFRS statutory headings. The healthcare cost trend has a significant effect on the amounts reported. For the Group, increasing the assumed healthcare cost rates by 1% in every year would increase the accumulated post-retirement benefit obligation as of 31 December 2006 by £4m (2005 £7m) and the aggregate of the service and interest cost components of net periodic post-retirement benefit cost for the year ended 31 December 2006 by £nil (2005 £1m).
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36 Differences between IFRS and US accounting principles (continued) (viii) Pensions and other post-retirement benefits – US GAAP (continued) This excerpt taken from the ICI 20-F filed Apr 1, 2005. Components of net periodic benefit cost
The net periodic benefit cost under SFAS No. 87 and SFAS No. 88 for the Group’s major pension benefit plans, and under SFAS No. 106 in respect of other post-retirement benefit plans comprised:
There are no charges in 2003 or 2004 for contractual terminations included in net periodic benefit costs, which are included within the relevant UK GAAP statutory headings. The healthcare cost trend has a significant effect on the amounts reported. For the Group, increasing the assumed health care cost rates for the major schemes by 1% in every year would increase the accumulated post-retirement benefit obligation as of 31 December 2004 by £12m (2003 £11m) and the aggregate of the service and interest cost components of net periodic post-retirement cost for the year ended 31 December 2004 by £1m (2003 £1m). This excerpt taken from the ICI 6-K filed Mar 16, 2005. Components of net periodic benefit cost
The net periodic benefit cost under SFAS No. 87 and SFAS No. 88 for the Group’s major pension benefit plans, and under SFAS No. 106 in respect of other post-retirement benefit plans comprised:
There are no charges in 2003 or 2004 for contractual terminations included in net periodic benefit costs, which are included within the relevant UK GAAP statutory headings. The healthcare cost trend has a significant effect on the amounts reported. For the Group, increasing the assumed health care cost rates for the major schemes by 1% in every year would increase the accumulated post-retirement benefit obligation as of 31 December 2004 by £12m (2003 £11m) and the aggregate of the service and interest cost components of net periodic post-retirement cost for the year ended 31 December 2004 by £1m (2003 £1m). | EXCERPTS ON THIS PAGE:
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