AGL Energy Limited Annual Report 2012 119 2012  $m 2011  $m Amounts recognised in the statement of comprehensive income Actuarial (loss)/gain incurred during the year and recognised in the statement of comprehensive income Actuarial (loss)/gain (70.0) 3.6  Tax effect 21.0  (1.1) Actuarial (loss)/gain, net of tax (49.0) 2.5  Cumulative actuarial loss recognised in the statement of comprehensive income (99.8) (50.8) Amounts recognised in the income statement Current service cost 3.8  4.7  Interest cost 9.0  9.2  Expected return on plan assets (11.1) (10.8) Effect of curtailments (0.1) (1.0) Expense recognised in the income statement as part of employee benefits expense (Note 9) 1.6  2.1  Amounts included in the statement of financial position Fair value of plan assets 396.4  157.6  Present value of defined benefit obligations (621.3) (198.2) Deficit (224.9) (40.6) Past service cost not yet recognised 1.3  –  Net liability – non-current (223.6) (40.6) Net liability at beginning of year (40.6) (53.4) Net liabilities assumed in a business combination (121.4) –  Expense recognised in the income statement (1.6) (2.1) Amount recognised in the statement of comprehensive income (70.0) 3.6  Employer contributions 10.0  11.3  Net liability at end of year (223.6) (40.6) Movements in the present value of defined benefit obligations Opening defined benefit obligations 198.2  209.1  Liabilities assumed in a business combination 355.9  –  Current service cost 3.8  4.7  Interest cost 9.0  9.2  Contributions by plan participants 2.4  2.7  Actuarial loss/(gain) 71.5  (1.9) Benefits paid (13.4) (12.0) Taxes and premiums paid (1.7) (1.9) Net transfers in 0.9  0.1  Curtailments (0.1) (1.0) Settlements (5.2) (10.8) Closing defined benefit obligations 621.3  198.2  Movements in the fair value of plan assets Opening fair value of plan assets 157.6  155.7  Assets acquired in a business combination 233.2  –  Expected return on plan assets 11.1  10.8  Actuarial gain 1.5  1.7  Employer contributions 10.0  11.3  Contributions by plan participants 2.4  2.7  Benefits paid (13.4) (12.0) Taxes and premiums paid (1.7) (1.9) Net transfers in 0.9  0.1  Settlements (5.2) (10.8) Closing fair value of plan assets 396.4  157.6 