80
Notes to the Financial Statements Year Ended 31 December 2008
Del Monte Pacific Ltd
Annual Report 2008
19. Retirement Benefit Obligations (cont'd)
Present value of funded obligations Group 2008 US$’000
Liability at 1 January Benefits paid by the plan Current service costs and interests Actuarial loss/(gain) Currency realignment Liability at 31 December
2007 US$’000
43,647 (4,103) 4,926 (5,667) (5,912) 32,891
28,507 (2,772) 4,528 7,664 5,720 43,647
Fair value of plan assets Group
Government bonds and foreign currencies Property occupied by a lessee Property occupied by the Group
2008 US$’000
2007 US$’000
21,675 3,831 29 25,535
26,167 4,991 369 31,527
Movement in plan assets: Group 2008 US$’000
Fair value of plan assets at 1 January Contributions paid into the plan Benefits paid by the plan Expected return on plan assets Actuarial loss Currency realignment Fair value of plan assets at 31 December
2007 US$’000
31,527 3,143 (4,103) 2,570 (3,476) (4,126) 25,535
26,227 2,497 (2,772) 2,798 (2,030) 4,807 31,527
Expenses recognised in the income statement Group 2008 US$’000
Current service cost Interest cost Expected return on plan assets Amortisation for past service cost Total pension expense
2007 US$’000
1,906 3,020 (2,570) 251 2,607
1,588 2,940 (2,798) 251 1,981
1,790 350 467 2,607
1,388 287 306 1,981
Recognised in: Cost of sales Distribution and selling expenses General and administrative expenses