Actuarial valuation methodActuarial valuation method

Actuarial valuation method

67 An entity shall use the projected unit credit method to determine the present value of its defined benefit obligations and the related current service cost and, where applicable, past service cost.

68 The projected unit credit method (sometimes known as the accrued benefit method pro-rated on service or as the benefit/years of service method) sees each period of service as giving rise to an additional unit of benefit entitlement (see paragraphs 70–74) and measures each unit separately to build up the final obligation (see paragraphs 75–98).

<table cellspacing="0" cellpadding="0" style="width:454.35pt; margin-left:21.25pt; border-collapse:collapse"><tbody><tr><td colspan="11" style="width:272.1pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding:3.62pt 3.62pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span style="font-weight:bold">Example illustrating paragraph 68</span></p></td></tr><tr><td colspan="11" style="width:272.1pt; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding:4pt 3.62pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:3pt"><span>A lump sum benefit is payable on termination of service and equal to 1 per cent of final salary for each year of serv</span><span>ice.</span><span> </span><span>The salary in year 1 is </span><span>CU</span><span>10,000 and is assumed to increase at 7 per cent (compound) each year.</span><span> </span><span>The discount rate used is 10 per cent per year.</span><span> </span><span>The following table shows how the obligation builds up for an employee who is expected to leave at the end of year 5, assuming that there are no changes in actuarial assumptions.</span><span> </span><span>For simplicity, this example ignores the additional adjustment needed to reflect the probability that the employee may leave the entity at an earlier or later date.</span></p></td></tr><tr><td style="width:102.8pt; border-left:0.75pt solid #000000; padding:4pt 4pt 2pt 3.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span>Year</span></p></td><td style="width:19.9pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>1</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.5pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>2</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>3</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>4</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.6pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>5</span></p></td><td style="width:1pt; border-right:0.75pt solid #000000; padding:4pt 3.62pt 2pt 4pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td></tr><tr><td style="width:102.8pt; border-left:0.75pt solid #000000; padding:4pt 4pt 2pt 3.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:19.9pt; padding:4pt 4pt 2pt; vertical-align:middle"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>CU</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:middle"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.5pt; padding:4pt 4pt 2pt; vertical-align:middle"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>CU</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:middle"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; padding:4pt 4pt 2pt; vertical-align:middle"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>CU</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:middle"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; padding:4pt 4pt 2pt; vertical-align:middle"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>CU</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:middle"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.6pt; padding:4pt 4pt 2pt; vertical-align:middle"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>CU</span></p></td><td style="width:1pt; border-right:0.75pt solid #000000; padding:4pt 3.62pt 2pt 4pt; vertical-align:middle"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td></tr><tr><td style="width:102.8pt; border-left:0.75pt solid #000000; padding:4pt 4pt 2pt 3.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span>Benefit attributed to:</span></p></td><td style="width:19.9pt; padding:4pt 4pt 2pt; vertical-align:bottom"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:bottom"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.5pt; padding:4pt 4pt 2pt; vertical-align:bottom"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:bottom"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.6pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:1pt; border-right:0.75pt solid #000000; padding:4pt 3.62pt 2pt 4pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td></tr><tr><td style="width:102.8pt; border-left:0.75pt solid #000000; padding:4pt 4pt 2pt 3.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span>– prior years</span></p></td><td style="width:19.9pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span><span>0</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.5pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>131</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>262</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>393</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.6pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>524</span></p></td><td style="width:1pt; border-right:0.75pt solid #000000; padding:4pt 3.62pt 2pt 4pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td></tr><tr><td style="width:102.8pt; border-left:0.75pt solid #000000; padding:4pt 4pt 2pt 3.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span>– current year (1% of final salary)</span></p></td><td style="width:19.9pt; border-bottom:0.75pt solid #000000; padding:4pt 4pt 1.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>131</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.5pt; border-bottom:0.75pt solid #000000; padding:4pt 4pt 1.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>131</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; border-bottom:0.75pt solid #000000; padding:4pt 4pt 1.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>131</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; border-bottom:0.75pt solid #000000; padding:4pt 4pt 1.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>131</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.6pt; border-bottom:0.75pt solid #000000; padding:4pt 4pt 1.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>131</span></p></td><td style="width:1pt; border-right:0.75pt solid #000000; padding:4pt 3.62pt 2pt 4pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td></tr><tr><td style="width:102.8pt; border-left:0.75pt solid #000000; padding:4pt 4pt 2pt 3.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span>– current and prior years</span></p></td><td style="width:19.9pt; border-bottom:0.75pt solid #000000; padding:4pt 4pt 1.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>131</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.5pt; border-bottom:0.75pt solid #000000; padding:4pt 4pt 1.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>262</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; border-bottom:0.75pt solid #000000; padding:4pt 4pt 1.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>393</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; border-bottom:0.75pt solid #000000; padding:4pt 4pt 1.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>524</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.6pt; border-bottom:0.75pt solid #000000; padding:4pt 4pt 1.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>655</span></p></td><td style="width:1pt; border-right:0.75pt solid #000000; padding:4pt 3.62pt 2pt 4pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td></tr><tr><td style="width:102.8pt; border-left:0.75pt solid #000000; padding:4pt 4pt 2pt 3.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:19.9pt; padding:4pt 4pt 2pt; vertical-align:bottom"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:bottom"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.5pt; padding:4pt 4pt 2pt; vertical-align:bottom"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:bottom"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.6pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:1pt; border-right:0.75pt solid #000000; padding:4pt 3.62pt 2pt 4pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td></tr><tr><td style="width:102.8pt; border-left:0.75pt solid #000000; padding:4pt 4pt 2pt 3.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span>Opening obligation</span></p></td><td style="width:19.9pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>–</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.5pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>89</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>196</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>324</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.6pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>476</span></p></td><td style="width:1pt; border-right:0.75pt solid #000000; padding:4pt 3.62pt 2pt 4pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td></tr><tr><td style="width:102.8pt; border-left:0.75pt solid #000000; padding:4pt 4pt 2pt 3.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span>Interest at 10%</span></p></td><td style="width:19.9pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>–</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.5pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>9</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>20</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>33</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.6pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>48</span></p></td><td style="width:1pt; border-right:0.75pt solid #000000; padding:4pt 3.62pt 2pt 4pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td></tr><tr><td style="width:102.8pt; border-left:0.75pt solid #000000; padding:4pt 4pt 2pt 3.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span>Current service cost</span></p></td><td style="width:19.9pt; border-bottom:0.75pt solid #000000; padding:4pt 4pt 1.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>89</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.5pt; border-bottom:0.75pt solid #000000; padding:4pt 4pt 1.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>98</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; border-bottom:0.75pt solid #000000; padding:4pt 4pt 1.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>108</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; border-bottom:0.75pt solid #000000; padding:4pt 4pt 1.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>119</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.6pt; border-bottom:0.75pt solid #000000; padding:4pt 4pt 1.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>131</span></p></td><td style="width:1pt; border-right:0.75pt solid #000000; padding:4pt 3.62pt 2pt 4pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td></tr><tr><td style="width:102.8pt; border-left:0.75pt solid #000000; padding:4pt 4pt 2pt 3.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span>Closing obligation</span></p></td><td style="width:19.9pt; border-bottom:1.5pt double #000000; padding:4pt 4pt 1.25pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>89</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.5pt; border-bottom:1.5pt double #000000; padding:4pt 4pt 1.25pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>196</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; border-bottom:1.5pt double #000000; padding:4pt 4pt 1.25pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>324</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:15.65pt; border-bottom:1.5pt double #000000; padding:4pt 4pt 1.25pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>476</span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span></span></p></td><td style="width:16.6pt; border-bottom:1.5pt double #000000; padding:4pt 4pt 1.25pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; text-align:right"><span>655</span></p></td><td style="width:1pt; border-right:0.75pt solid #000000; padding:4pt 3.62pt 2pt 4pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td></tr><tr><td style="width:102.8pt; border-left:0.75pt solid #000000; padding:4pt 4pt 2pt 3.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:19.9pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:16.5pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:15.65pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:15.65pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:16.6pt; padding:4pt 4pt 2pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:1pt; border-right:0.75pt solid #000000; padding:4pt 3.62pt 2pt 4pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td></tr><tr><td style="width:102.8pt; border-left:0.75pt solid #000000; padding:4pt 4pt 2pt 3.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt; page-break-after:avoid"><span>Note:</span></p></td><td style="width:19.9pt; padding:4pt 4pt 2pt; vertical-align:bottom"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:bottom"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:16.5pt; padding:4pt 4pt 2pt; vertical-align:bottom"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:bottom"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:15.65pt; padding:4pt 4pt 2pt; vertical-align:bottom"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:bottom"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:15.65pt; padding:4pt 4pt 2pt; vertical-align:bottom"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:1pt; padding:4pt 4pt 2pt; vertical-align:bottom"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:16.6pt; padding:4pt 4pt 2pt; vertical-align:bottom"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td><td style="width:1pt; border-right:0.75pt solid #000000; padding:4pt 3.62pt 2pt 4pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td></tr><tr><td colspan="10" style="width:263.1pt; border-left:0.75pt solid #000000; padding:4pt 4pt 2pt 3.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-left:17.85pt; margin-bottom:0pt; text-indent:-17.85pt"><span style="font-style:italic"><span>1</span></span><span style="font:7pt 'Times New Roman'"> </span><span style="font-style:italic">The opening obligation is the present value of the benefit attributed to prior years.</span></p></td><td style="width:1pt; border-right:0.75pt solid #000000; padding:4pt 3.62pt 2pt 4pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td></tr><tr><td colspan="10" style="width:263.1pt; border-left:0.75pt solid #000000; padding:4pt 4pt 2pt 3.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-left:17.85pt; margin-bottom:0pt; text-indent:-17.85pt"><span style="font-style:italic"><span>2</span></span><span style="font:7pt 'Times New Roman'"> </span><span style="font-style:italic">The current service cost is the present value of the benefit attributed to the current year.</span></p></td><td style="width:1pt; border-right:0.75pt solid #000000; padding:4pt 3.62pt 2pt 4pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td></tr><tr><td colspan="10" style="width:263.1pt; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:4pt 4pt 1.62pt 3.62pt; vertical-align:top"><p class="NoNumPlain1" style="margin-left:17.85pt; margin-bottom:3pt; text-indent:-17.85pt"><span style="font-style:italic"><span>3</span></span><span style="font:7pt 'Times New Roman'"> </span><span style="font-style:italic">The closing obligation is the present value of the benefit attributed to current and prior years.</span></p></td><td style="width:1pt; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding:4pt 3.62pt 1.62pt 4pt; vertical-align:top"><p class="NoNumPlain1" style="margin-bottom:0pt"><span></span></p></td></tr></tbody></table>