NATIXIS - 2018 Registration document and annual financial report
5 FINANCIAL DATA
Consolidated financial statements and notes
SEPARATE ASSETS R
31/12/2018
31/12/2017
Post-employment defined-benefit plans
Post-employment defined-benefit plans
Supplementary pension benefits and other
Supplementary pension benefits and other
End-of-career awards
End-of-career awards
Total
Total
(in millions of euros)
Total revaluation adjustments at start of period o/w effect of ceiling on assets Revaluation adjustments over the period o/w effect of ceiling on plan assets Changes associated with non-current assets held for sale (a) Total revaluation adjustments at end of period
51
2
54
44
1
45
(14)
3
(10)
7
1
8
38
5
43
51
2
54
o/w effect of ceiling on assets Corresponds to the changes in separate asset revaluation adjustments (in respect of post-employment plans) by SFS subsidiaries recognized in (a) non-current assets held for sale as at December 31, 2018 (see Notes 3.6 and 6.9).
the net interest cost reflecting the impact of unwinding the a discount on the net obligation. Obligations in respect of other long-term employee benefits are accounted for using the same actuarial valuation method as that used for post-employment defined-benefit obligations, except for revaluation adjustments, which are taken directly to profit or loss.
f) Analysis of expenses for the period The annual payroll costs recognized in respect of defined-benefit plans consist of: the costs of services rendered, representing rights vested by a beneficiaries over the period; past service costs, arising from possible plan changes or a curtailments as well as the effects of possible plan settlements;
31/12/2018
31/12/2017
Post-employment defined-benefit plans
Other long-term employee benefits
Supplementary pension benefits and other
End-of-career awards
Long-service
awards Other benefits
Total
Total
(in millions of euros)
Service cost
4 0
14 (0)
5 0 1 0
69 (0)
92 (0) 19
72
Past service cost
(30)
Interest cost
14
4
0 0 0
19
Interest income
(12)
(1) (1)
(13)
(13)
Other
0
(3)
(4)
(2)
TOTAL EXPENSE FOR THE YEAR (A)
7 46 At December 31, 2017, €41 million of income was recognized in income in connection with the plan reduction following the new collective (a) agreement on complementary health insurance for employees. An expense of €7 million for an additional end-of-career award commitment was also recorded. g) Main actuarial assumptions at December 31, 2018 The amount of the provision for post-employment defined-benefit plans is calculated on an actuarial basis using a number of demographic and financial assumptions. 15 2 69 94
31/12/2018
31/12/2017
France 1.28% 1.70% 2.29% 2.77%
Europe United States
France 0.98% 1.70% 2.27% 4.18%
Europe United States
Discount rate Inflation rate
2.40% 2.55% 2.58% 4.20%
4.15% 3.00% 4.00% 5.00%
2.25% 2.53% 2.55% 1.60%
3.53% 3.00% 4.00% 5.00%
Rate of increase in salaries
Rate of increase in healthcare costs
Duration (in years)
12
16
13
13
18
18
370
Natixis Registration Document 2018
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