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PBR » Topics » c) Movement of provisioned amounts

This excerpt taken from the PBR 6-K filed Jun 26, 2006.

c) Movement of provisioned amounts

    R$ Thousand 
   
    Consolidated    Parent Company 
     
        Health       Health
        care       Care
    Pensions   benefits   Pensions   Benefits
         
 
Balance as of December 31, 2005    2,381,302    7,030,939    2,210,884    6,477,127 
(+) Costs incurred at the period    365,990    435,745    335,220    406,926 
(-) Benefits paid    (103,284)   (93,096)   (94,550)   (88,858)
(+) Others    37,459             
         
Balance as of March 31, 2006    2,681,467    7,373,588    2,451,554    6,795,195 
         
 
Current liabilities    415,397        395,880     
Non current liabilities    2,266,070    7,373,588    2,055,674    6,795,195 
         

The net expense associated with the pension and retirement benefits granted and to be granted to employees, retirees and pensioners for the period January to March of 2006, according to the actuarial calculation made by an independent actuary, includes the following components:

    R$ Thousand 
   
    Consolidated    Parent Company 
     
        Health       Health
        care       Care
    Pensions   benefits   Pensions   Benefits
         
 
Current service cost    96,981    45,090    85,087    39,517 
Interest cost    930,510    322,181    874,330    301,694 
Estimated return on plan assets    (686,434)       (648,382)    
Amortization of unrecognized losses    123,994    68,534    118,735    65,715 
Contributions from participants    (99,271)       (94,550)    
Others    210    (60)        
         
 
Net cost for the period    365,990    435,745    335,220    406,926 
         

63

The restatement of the provisions was recorded under income for the quarter, as described below:

    R$ Thousand 
   
    Consolidated    Parent Company 
     
        Health       Health
        care       Care
    Pensions   benefits   Pensions   Benefits
         
 
Related with active employees:                 
Absorbed in the cost of operating activities    95,148    89,789    91,396    87,551 
Directly to income    69,777    62,530    54,727    52,624 
Related with inactive members (recorded                 
under other                 
operating income and expenses)   201,065    283,426    189,097    266,751 
         
 
    365,990    435,745    335,220    406,926 
         

This excerpt taken from the PBR 6-K filed Aug 19, 2005.

c) Movement of provisioned amounts

    R$ thousand 
   
    Consolidated    Parent Company 
     
  Pensions    Supplementary
Medical
Assistance 		   Pensions    Supplementary
Medical
Assistance 
         
 
Balance at December 31, 2004                 
    1.137.647    5.673.650    1.016.212    5.214.410 
(+) Costs for the period                 
    829.016    847.887    771.504    792.000 
(-) Contributions made    (189.084)   (124.837)   (168.405)   (115.718)
(-) Others    (2.474)            
 
         
Balance at June 30, 2005    1.775.105    6.396.700    1.619.311    5.890.692 
         
 
Current liabilities    385.474        353.718     
Noncurrent liabilities    1.389.631    6.396.700    1.265.593    5.890.692 
         

60

The net expense associated with the pension and retirement benefits granted and to be granted to employees, retirees and pensioners for the period January to June of 2005, according to the actuarial calculation made by an independent actuary, includes the following components:

    R$ thousand 
   
   
Consolidated 
Parent Company 
     
    Pensions    Health
care
benefits 		   Pensions    Health
care
benefits 
         
         
         
 
Current service cost    179.531    89.956    162.462    80.201 
Interest cost    1.679.086    594.794    1.584.308    555.544 
Estimated return on plan assets    (1.126.720)       (1.065.090)    
Amortization of unrecognized losses    273.983    163.137    258.229    156.255 
Contributions from participants    (177.047)       (168.405)    
Other    183             
         
 
Net cost for the 1st 2005 half    829.016    847.887    771.504    792.000 
         

The restatement of the provisions was recorded under income for the quarter, as described below:

    R$ thousand 
   
   
Consolidated 
Parent Company 
     
    Pensions    Health
care
benefits 		   Pensions    Health
care
benefits 
         
         
         
 
Related with active employees:                 
Absorbed in the cost of operating activities                 
    366.382    208.475    332.915    185.905 
Directly to income    61.490    127.588    37.445    94.271 
 
Related with inactive members (recorded                 
under other                 
operating income and expenses)   401.144    511.824    401.144    511.824 
         
 
    829.016    847.887    771.504    792.000 
         

61

EXCERPTS ON THIS PAGE:

6-K
Jun 26, 2006
6-K
Aug 19, 2005

RELATED TOPICS for PBR:

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