The funded status of the pension plans at the end of Q2 2013 was a deficit of €0.4 billion (year-end 2012: €1.1 billion as reported, €0.9 billion on restated basis). The movement compared to year-end 2012 is primarily due to:
- Changes in accounting standard IAS 19 (effective January 1, 2013) by €183 million
- Top-up payments of €294 million into certain pension plans
- Higher discount rates in all key countries
- Higher inflation
- Lower asset returns.