NATIXIS - 2018 Registration document and annual financial report
FINANCIAL DATA Consolidated financial statements and notes
a) Amounts recognized on the balance sheet at December 31, 2018 The amount of the recognized provision on the liability side of the balance sheet corresponds to the value of the actuarial liabilities under the defined benefit plans, less the market value of the assets to hedge these benefit liabilities.
31/12/2018
31/12/2017
Post-employment defined-benefit plans
Other long-term employee benefits
Post-employment defined-benefit plans
Other long-term employee benefits
Supplemen- tary pension benefits and other
Supplemen- tary pension benefits and other
End-of-career awards
Long-service
End-of-career awards
Long-service
awards Other benefits
awards Other benefits
(in millions of euros)
Total
Total
Actuarial liabilities
526
215
51
144
936
577
256
63
123
1,020
Fair value of plan assets
(255)
(102)
0
0
(357)
(270)
(88)
0
0
(359)
Fair value of separate assets (a)
(147)
(27)
0
0
(174)
(171)
(43)
0
0
(214)
Effect of ceiling on assets
2
0
0
0
2
8
0
0
0
8
Net amount recognized in balance sheet
126
86
51
144
406
143
125
63
123
455
under liabilities
273
113
51
144
581
315
168
63
123
669
under assets 214 Separate asset components are for the most part segregated in the balance sheets of Natixis insurance subsidiaries (ABP Life Insurance), (a) hedging the benefit liabilities of other entities within the Natixis group of consolidated companies which were transferred to hedge the post-employment benefits of a few categories of employees. 147 27 0 0 174 171 43 0 0
5
b) Changes in recognized amounts on the balance sheet (Changes in actuarial liabilities)
12.31.2018
12.31.2017
Post-employment defined-benefit plans
Other long-term employee benefits
Post-employment defined-benefit plans
Other long-term employee benefits
Total
Supplemen- tary pension benefits and other
Supplemen- tary pension benefits and other
End-of-career awards
Long-service
End-of-career awards
Long-service
Total
awards Other benefits
awards Other benefits
(in millions of euros)
Actuarial liabilities at start of period
577
256
63
123
1,020
636
238
60
125
1,059
Changes recorded in income
(7)
5
(3)
18
14
(48)
16
3
(0)
(29)
Service cost
4
14
5
69
92
9
13
5
45
72
Past service cost
0
(0)
0
(0)
(0)
(42)
10
1
0
(30)
o/w plan liquidation and reduction
0
0
0
0
0
(41)
9
0
0
(32)
Interest cost
14
4
1
0
19
16
2
0
0
19
Benefits paid
(25)
(11)
(4)
(51)
(91)
(25)
(10)
(3)
(46)
(84)
o/w amounts paid out in respect of plan liquidation Revaluation adjustments on other long-term employee benefits Changes recognized directly in other comprehensive income with no recycling Revaluation adjustments – demographic assumptions Other
(11)
(6)
(2)
(28)
(48)
(12)
(5)
0
0
(17)
0
0
(1)
(0)
(1)
0
0
(1)
(0)
(1)
(0)
(1)
(3)
0
(4)
(6)
0
(0)
1
(5)
(45)
(15)
0
0
(61)
23
4
0
0
27
0
(7)
0
0
(6)
(0)
4
0
0
4
Revaluation adjustments – financial assumptions Revaluation adjustments – past-experience effect
(26)
(7)
0
0
(34)
26
(2)
0
0
24
(19)
(1)
0
0
(21)
(2)
2
0
0
(0)
Translation adjustments
8
0
0
1
9
(35)
(1)
(0)
(3)
(38)
Changes associated with non-current assets held for sale (a)
(10)
(31)
(10)
(1)
(52)
Changes in scope
3
(0)
0
0
3
2
0
0
0
2
Other
(1)
0
0
3
2
(1)
(2)
1
0
(1)
Actuarial liabilities at end of period
526 1,020 Corresponds to the actuarial liabilities, at December 31, 2018, associated with the SFS entities recognized in non-current assets held for sale as at (a) December 31, 2018 (see Notes 3.6 and 6.9). 215 51 144 936 577 256 63 123
367
Natixis Registration Document 2018
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