NATIXIS -2020 Universal Registration Document
FINANCIAL DATA Consolidated financial statements and notes
Separate assets
31/12/2020
31/12/2019
Post-employment defined-benefit plan
Post-employment defined-benefit plan
Supplementary pension benefits and other
Supplementary pension benefits and other
End-of-career awards
End-of-career awards
Total
(in millions of euros)
Total
Total revaluation adjustments at start of period o/w effect of ceiling on assets
7
6
13
38
5 0
43
0
0
Revaluation adjustments over the period
1 0
1 0
2 0
(29)
1
(29)
o/w effect of ceiling on plan assets Total revaluation adjustments at end of period o/w effect of ceiling on assets
8
7
15
7
6
13
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 V beneficiaries over the period; past service costs, arising from possible plan changes or V curtailments as well as the effects of possible plansettlements;
the net interest cost reflecting the impact of unwinding the V 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 immediately recognized in income.
5
31/12/2020
31/12/2019
Post-employment defined-benefit plan
Other long-term employee benefits
Supplementary pension benefits and other
End-of-career awards
Long-service awards
Other
Total
(in millions of euros)
Total
Service cost
6
12
4 1 0 0 0
18
40
50 (2) 19
Past service cost
(13)
0 1
0 0 0 1
(12)
Interest cost
12
13
Interest income
(10)
(1) (0)
(10)
(14)
Other
3
4
(1)
TOTAL EXPENSE FOR THE FISCAL YEAR
(2)
13
5
19
34
53
g) Main actuarial assumptions at December 31, 2020 The amount of the provision for post-employmentdefined-benefitplans is calculatedon an actuarial basis using a number of demographicand financial assumptions.
31/12/2020
31/12/2019
Europe United States (a)
France
France
Europe United States
Discount rate (excluding Time Savings Account)
0.16% 1.60% 2.28% 2.40%
1.34% 2.61% 2.44% 0.00%
2.35%
0.40% 1.60% 2.27% 2.42%
1.43% 2.32% 2.58% 0.00%
3.11% 2.64% 3.99% 3.90%
Inflation rate
- -
Rate of increase in salaries
Rate of increase in healthcare costs
3.90%
Duration (in years)
13
23
15
13
18
14
The two parameters of inflation rate and wage growth rate are no longer taken into account for the valuation of liabilities in the United States. (a)
377
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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020
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