Assystem - 2015 Registration Document

FINANCIAL STATEMENTS

CONSOLIDATED FINANCIAL STATEMENTS

EMPLOYEE BENEFIT OBLIGATIONS

NOTE 21

Employee benefit obligations consist mainly of statutory retirement bonuses payable in accordance with the Syntec collective bargaining agreement applicable in France. These bonuses correspond to vested entitlements determined based on length of service.

Net liability recognised in the statement of financial position

31/12/2015

31/12/2014

In millions of euros

Present value of funded or partially-funded post-employment benefit obligations

24.9 (1.4) 23.5

25.8 (1.5) 24.3

Fair value of plan assets

PROVISION RECOGNISED IN THE STATEMENT OF FINANCIAL POSITION

Impact on the income statement

2015

2014

In millions of euros

Current service cost

(2.2) (0.4) (2.6) (2.2) (0.4) (2.6)

(2.0) (0.3) (2.3) (2.0) (0.3) (2.3)

Interest expense

Amount recognised in the income statement

Amount recognised in “Depreciation, amortisation and provisions for recurring operating items, net”

Amount recognised in “Other financial income and expenses” AMOUNT RECOGNISED IN THE INCOME STATEMENT

Change in the net liability recognised in the statement of financial position

2015

2014

In millions of euros

Net liability at beginning of year

24.3

17.2

Current service cost

2.2 0.4

2.0 0.3 5.8

Interest expense

Remeasurement of the defined benefit liability recognised in equity

(3.6)

Currency translation differences

0.2 1.5

– –

Effect of changes in scope of consolidation

6

Benefits paid

(1.6)

(1.1)

Benefits paid directly by the fund NET LIABILITY AT YEAR-END

0.1

0.1

23.5

24.3

The actuarial gains and losses recognised directly in other comprehensive income relate to the change in the discount rate applied (2.5% for France and Germany in 2015 versus 1.3% in 2014). The composite rate applied for 2015 was determined based on the Bloomberg and Iboxx rates.

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ASSYSTEM

FINANCIAL REPORT 2015