| Pension plans |
|
| The
Group is accounting for pension costs in accordance with International
Accounting Standard 19. |
|
|
|
| The
disclosures shown here are in respect of the Group's Defined Benefit
Obligations. Other plans operated by the Group were either Defined
Contribution plans or were |
| deemed
immaterial for the purposes of IAS19 reporting. Full IAS 19 disclosure for
the year ended 31st December 2008 is include in the Group's Annual Report. |
|
|
|
| The
Defined Benefit plan expense is recognised in the income statement as
follows: |
|
|
|
|
UK Pensions |
Overseas pensions and
medical |
Total |
|
|
Six
months to 30th June |
Six
months to 30th June |
Six
months to 30th June |
Six
months to 30th June |
Six
months to 30th June |
Six
months to 30th June |
Year ended
31st December |
|
|
2009 |
2008 |
2009 |
2008 |
2009 |
2008 |
2008 |
|
| |
£000 |
£000 |
£000 |
£000 |
£000 |
£000 |
£000 |
|
| Current service cost |
(3,100) |
(2,900) |
(732) |
(642) |
(3,832) |
(3,542) |
(7,718) |
|
| Settlement,
curtailment |
- |
- |
(108) |
- |
(108) |
- |
- |
|
| Interest on schemes' liabilities |
(5,900) |
(5,600) |
(1,388) |
(1,017) |
(7,288) |
(6,617) |
(13,325) |
|
| Expected return on schemes' assets |
5,700 |
6,700 |
807 |
852 |
6,507 |
7,552 |
15,250 |
|
| Total
expense recognised in income statement |
(3,300) |
(1,800) |
(1,421) |
(807) |
(4,721) |
(2,607) |
(5,793) |
|
|
| The expense
is recognised in the following line items in the income statement: |
|
|
Six
months to 30th June |
Six
months to 30th June |
Year ended
31st December |
|
|
2009 |
2008 |
2008 |
|
| |
£000 |
£000 |
£000 |
|
| Operating costs |
(3,940) |
(3,542) |
(7,718) |
|
| Financial expenses |
(7,288) |
(6,617) |
(13,325) |
|
| Financial income |
6,507 |
7,552 |
15,250 |
|
| Total
expense recognised in income statement |
(4,721) |
(2,607) |
(5,793) |
|
|
| The amounts
recognised in the balance sheet are determined as follows: |
|
|
UK Pensions |
Overseas pensions and
medical |
Total |
|
|
30th June |
30th June |
30th June |
30th June |
30th June |
30th June |
31st December |
|
|
2009 |
2008 |
2009 |
2008 |
2009 |
2008 |
2008 |
|
| |
£000 |
£000 |
£000 |
£000 |
£000 |
£000 |
£000 |
|
| Fair value of schemes' assets |
150,500 |
167,887 |
21,376 |
23,207 |
171,876 |
191,094 |
170,442 |
|
| Present value of schemes'
liabilities |
(217,200) |
(200,211) |
(45,328) |
(37,918) |
(262,528) |
(238,129) |
(244,159) |
|
| Retirement benefit liability |
|
|
|
|
|
|
|
| recognised in the balance sheet |
(66,700) |
(32,324) |
(23,952) |
(14,711) |
(90,652) |
(47,035) |
(73,717) |
|
| Related deferred tax |
18,676 |
9,050 |
6,963 |
4,650 |
25,639 |
13,700 |
24,528 |
|
| Net
pension liability |
(48,024) |
(23,274) |
(16,989) |
(10,061) |
(65,013) |
(33,335) |
(49,189) |
|
|
| Share based payments |
|
| The charge
to the income statement in respect of share-based payments is made up as
follows: |
|
|
Six
months to 30th June |
Six
months to 30th June |
Year ended 31st December |
|
|
|
2009 |
2008 |
2008 |
|
| |
£000 |
£000 |
£000 |
|
|
| Share Option Scheme |
425 |
458 |
809 |
|
| Performance Share Plan |
347 |
266 |
605 |
|
| Employee Share Ownership Plan |
372 |
351 |
691 |
|
| |
1,144 |
1,075 |
2,105 |
|
|
|
|
|
|
|
|
|
|
