23 Pensions and other post-employment benefits (continued)
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Ahold Annual Report 2012
Notes to the consolidated
financial statements
^BBBQ 112 Ahold at a glance
Our strategy
Our performance
Governance
Finandals
Investors
The changes in the defined benefit obligations and plan assets in 2012 and 2011 were as follows:
The Netherlands
United States
Total
million
2012
2011
2012
2011
2012
2011
Defined benefit obligations
Beginning of the year
2,155
2,118
1,469 1
,297
3,624
3,415
Current service cost
57
55
19
18
76
73
Interest cost
119
111
76
71
195
182
Actuarial (gains) losses
1,250
(48)
193
93
1,443
45
Contributions by plan participants
12
12
12
12
Benefits paid
(88)
(93)
(68)
(65)
(156)
(158)
Curtailment
(38)
(38)
Settlement
(305)
(305)
Other
3
3
Exchange rate differences
(34)
52
(34)
52
End of the year
3,467
2,155
1,350 1
,469
4,817
3,624
Plan assets
Fair value of assets, beginning of the year
2,762
2,476
1,117
1,020
3,879
3,496
Expected return on plan assets
146
141
75
70
221
211
Actuarial gains (losses)
236
109
32
(15)
268
94
Company contribution
122
117
193
69
315
186
Contributions by plan participants
12
12
12
12
Benefits paid
(88)
(93)
(68)
(65)
(156)
(158)
Settlement
(352)
(352)
Exchange rate differences
(24)
38
(24)
38
Fair value of assets, end of the year 3,190 2,762 973 1,117 4,163 3,879
Surplus (deficit) (277) 607 (377) (352) (654) 255
Unrecognized actuarial (gains) losses
809
(199)
398
349
1,207
150
Unrecognized past service cost
(1)
(1)
(1)
(1)
Net asset (liability)532 40820 (4)552 404
The total defined benefit obligation of €4,817 million as of December 30, 2012, includes €1 78 million related to plans that are wholly unfunded. These plans include other benefits (such as
life insurance and medical care) and supplemental executive retirement plans.
The assets that Ahold has recognized reflect unrecognized actuarial losses as well as Ahold's unconditional right to use surplus assets for the gradual settlement of the plan liabilities over time
until all members have left the plan. Therefore, the defined benefit asset is not realizable immediately as of December 30, 2012.
