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FINANCIAL STATEMENTS
6
CONSOLIDATED FINANCIAL STATEMENTS
NET LIABILITY RECOGNISED IN THE STATEMENT OF FINANCIAL POSITION
In millions of euros
2016
2015
Present value of funded or partially-funded post-employment benefit obligations
27.6
24.9
Fair value of plan assets
(1.2)
(1.4)
Provision recognised in the statement of financial position
26.4
23.5
CHANGE IN THE NET LIABILITY RECOGNISED IN THE STATEMENT OF FINANCIAL POSITION
In millions of euros
2016
2015
Net liability at 1 January
23.5
24.3
Current service cost
1.9
2.2
Interest expense
0.4
0.4
Remeasurement of the net liability recognised in equity
1.1
(3.6)
Currency translation differences
0.1
0.2
Effect of changes in scope of consolidation
0.1
1.5
Benefits paid
(0.9)
(1.6)
Benefits paid directly by the fund
0.2
0.1
Net liability at 31 December
26.4
23.5
Current service cost is recognised under “Depreciation, amortisation
and provisions for recurring operating items, net” and interest expense
is recorded under “Other financial income and expenses”.
The actuarial gains and losses recognised directly in other comprehensive
income mainly relate to the effect of changes in the discount rate (1.5%
for France and Germany in 2016
versus
2.5% in 2015). The composite
rate applied for 2016 was determined by reference to the Bloomberg
and Iboxx rates.
PRESENT VALUE OF THE POST-EMPLOYMENT BENEFIT OBLIGATION
In millions of euros
2016
2015
Present value of the post-employment benefit obligation at 1 January
24.9
25.8
Service cost
1.9
2.2
Interest expense
0.4
0.4
Remeasurement of the net liability recognised in equity
1.1
(3.6)
Currency translation differences
0.1
0.2
Effect of changes in scope of consolidation
0.1
1.5
Benefits paid
(0.9)
(1.6)
Present value of the post-employment benefit obligation at 31 December
27.6
24.9
PLAN ASSETS
In millions of euros
2016
2015
Fair value of plan assets at 1 January
1.4
1.5
Benefits paid
(0.2)
(0.1)
Fair value of plan assets at 31 December
1.2
1.4
Plan assets are mainly split between two funds representing €0.7 million and €0.5 million respectively.
ASSYSTEM
REGISTRATION DOCUMENT
2016
99