ASSYSTEM_Registration_Document_2017
FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS
ACTUARIAL ASSUMPTIONS
2017
2016
In %
France Discount rate
1.5% 1.5%
1.5% 1.5%
Projected rate of salary increases
Germany Discount rate
- -
1.5% 2.0%
Projected rate of salary increases
DEFINED CONTRIBUTION PLANS
2017 (9.7)
2016 (10.0)
In millions of euros
Amount expensed for defined contribution plans
SENSITIVITY ANALYSIS The liability recognised for statutory retirement bonuses payable in accordance with the Syntec collective bargaining agreement is calculated based on actuarial assumptions relating to the following: mortality rate, staff turnover, future salaries, discount rate and expected return on plan assets. Changes in these assumptions can impact the liability to a greater or lesser extent. The Group has chosen to present a sensitivity analysis for the discount rate applicable for France, since any change in this assumption could significantly affect equity (net of tax):
1% decrease 0.5% decrease
0.5% increase
1% increase
Impact on equity (in millions of euros)
(1.1)
(0.5)
0.5
0.9
Impact on equity (%)
(0.3)%
(0.1)%
(0.1)% (3.6)%
0.2%
Impact on the net liability (%)
8.0%
3.6%
(6.6)%
5.3.3 SHARE-BASED PAYMENTS
In accordance with IFRS 2 – Share-based Payment, when the Group receives services from employees as consideration for share-based payments, the fair value of the employee services received in exchange for the grant of the share-based payments is recognised as an expense. The total amount to be expensed is determined by reference to the fair value of the benefits granted to the employees concerned under stock option plans or free share/performance share plans. The expense is recognised on a straight-line basis over the vesting period. For stock options, the fair value of the options is determined using the Black & Scholes pricing model. Although the share-based payment expense – which is recognised as a non-recurring expense in the consolidated income statement – reduces profit for the period, it has no impact on total equity.
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ASSYSTEM
REGISTRATION DOCUMENT 2017
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